Resilience is a valuable commodity for any business to have in the modern world, as who knows what else lies around the corner after the chaos of the pandemic? The stats really don’t lie either, as 1 in 3 Australian businesses fail in the first year. So what is entrepreneurship these days? Of course, it’s success and growth but first comes survival.
This means being able to roll with the punches and adapt to new challenges and shortly we’ll tell you about entrepreneurship courses from OCA that can tip the balance in your favour. However, not before we provide you with 7 small business tips to help you keep your doors open. So, if you’re ready to equip yourself with some resilience, we’ll get right to it.
Tip #1 - Leverage Social Media
There’s no getting around the fact that social media can’t be ignored, particularly with physical restrictions coming and going during the year. Being active on social media allows you to connect with customers and clients, allowing you to attract new business and stay fresh in the mind at all times.
Tip #2 - Have a Budget & Stick to It!
Covered by many good entrepreneurship courses is budgeting and that’s because it’s a perennial factor. Start your year with a freshly reviewed budget, with what you’re expecting covered and you’ll ensure that you don’t overspend in areas that don’t need it.
Tip #3 - Understand Your Target Market
There’s a reason why the best business management courses spend so much time on buyer personas and that’s because knowing what your ideal customer looks like is crucial to your success. Take the time out to focus on your target market and even ask for feedback via social media. It will pay dividends!
Tip #4 - Always Be Looking For Ways to Improve Your Business
During your quieter moments, there can be a tendency to want to take a break, but savvy entrepreneurs use this time to look at ways they can improve. Whether talking about the products you sell or the customer service you provide, improvements often equate to extra revenue.
Tip #5 - Ever Thought of Offering Subscriptions?
Entrepreneurship courses teach us that ongoing income you can count on is something that can be really helpful when business is slow. Recurring payments provided by subscription services - something that’s particularly on-trend right now - can help you gain this regular revenue.
Tip #6 - Streamline Your Business Processes
Automation is all the rage right now, with businesses taking care of many of their time-consuming, labour-intensive tasks with intelligent software. Elements like accounting, scheduling and customer responses can all be automated in this way, saving you both time and money.
Tip #7 - Get Insurance to Protect Your Business Assets
Another fundamental of working for yourself is being protected, as there are literally threats everywhere you look. This puts your assets at great risk, so be sure to speak to your financial advisor and ensure that you’ve got adequate protection against damage, loss, theft, public liability and more.
Boost Your Entrepreneurial Skills With Flexible Online Training
There certainly is a lot to think about as an entrepreneur, but the good news is that any area that you might be lacking in can be addressed with high-quality online training from OCA. Entrepreneurship courses like our Entrepreneurship Certificate give you everything you need for success and being video-based means that learning is a much more enjoyable process.
This course is like all of those we offer in that it follows the micro-learning model, is created in collaboration with top experts and can be paid for in manageable instalments. To learn more about this or any of our industry-leading online learning, visit us today at www.onlinecoursesaustralia.edu.au or give our friendly advisors a call on 1300 611 404 and they’ll be delighted to assist.