Is 2017 Great For Small Businesses?
The start of any new year is traditionally a time when reflect on the past year and try to do more of what made us happy and fulfilled, and less of what didn’t, by taking stock of our personal lives. It’s also the perfect time for small business owners to do the same for their business.
Here is some information to help set your small business up for success in 2017.
Money for Tech Start-Ups
Let’s face it, the era of adoration and adulation of the world of tech start-ups seems to be drawing to a close, in spite of the investment dollars and market opportunities in the tech sector still being plentiful. Blame it on high profile flops, if you would.
More Freelancing
If I were an entrepreneur with a service or product that could be tailored to freelancers, I would be looking at how best to service this growing segment of the economy. This segment will only continue to grow and represents the most disruptive segment in terms of growth and innovation. 2017 will herald a lot of additional services and products that will enable freelancers specifically to have access to credit or additional payment options.
On-Demand Business Models
These will become more common, even in B2B spaces. As the use of these marketplace apps and sites like Airbnb, Uber etc. become so mainstream among consumers, it’s driving even more momentum in the corporate and B2B space. Some of the earliest pioneers in the crowdsourcing and sharing economy movement, who have watched the marketplace business model expand and grow, don’t see any of that momentum letting up. In fact, it is only going to increase.
Newer Technology
When you’re a young company that was built to begin with on an ever-changing, web-based economy, it’s easy to adapt. On the other hand, larger companies, even when they are willing to step out of their comfort zones, have to overhaul larger, more-entrenched payment-processing systems, for example, that have existed for years or decades. Businesses are rapidly embracing artificial intelligence to gain a competitive edge and stay relevant to consumers as brand engagement will be reimagined this year. Ease of access through the latest technology will be a priority. Decide if you want to be B2B or B2C, because it is very difficult if you try to do both. Companies that use newer online payment options have a major edge over competitors. So, use it to your benefit. Embrace technology in its latest form.
More Delegating
A small business owner feels he has to juggle too many different hats and tasks at work that spreads him too thin. As you ramp up 2017, take the time to determine what tasks you can delegate to others, by re-assessing your role in the business. This will not only empower and potentially motivate employees by giving them new opportunities, but also free up your time to focus on driving your broader business goals. As discussed in my post What Not to Do in A Business, figure out what you do that turns dollars. Then delegate the rest. You cannot handle everything yourself. Even if you can, why bother? The time you save after delegating the useless work, you can spend on earning more. After all, an hour of cleaning the office can never earn you as much as an hour of responding to email. And there are only 24 hours in a day!
Because most small business owners start the company with amount that is barely enough to cover the costs of incorporation, they naturally develop an addiction to doing everything themselves. Some tasks take up valuable time and energy that can instead be directed at helping the business grow. Contact HyperEffects to chart out a tailor-made business marketing strategy for your company and see your business show up on television ads, press releases and on major channel partners. We also have a free consultation session that is specifically designed to help small business owners understand the importance of emerging technology. Our experts are always here to help you make the right decisions for your business. This will save you a lot of valuable time spent on other less-reliable methods of getting your business known. Also, this is going to be the new trend in 2017.
