How to make sure your small business is a huge success

The essential components to having a successful business are hiring the right people, understanding your finances, developing clear strategies, and executing all of them efficiently. In order to make your small business a huge success, you as an owner you must also need to be involved and aware. A small business differs from a large corporation because you have a limited number of executive positions and branches with other leadership positions.

Essentially, you are the main overseer of all it’s moving parts. A successful business is one that is financially sound, which requires the owner to be aware of all financial matters. With a small business, every transaction is a big transaction, so every purchase, contract, and deal needs to be approved by you first, and compared against the books. It is also important that you take the time to hire the right people. Interview multiple candidates and if you decide their skills are a good fit for the position, then make sure that they are a cultural fit as well. Again going back to the small office environment, the rest of your staff must be able to work well and collaboratively with them.


Cartoon with check mark

  • know your numbers
  • create a solid business model
  • execute
  • motivate your employees

Cartoon with x mark

  • hire out of desperation
  • ignore the numbers
  • ignore your database
  • lose touch with essential customers

[publishpress_authors_data]'s recommendation to ExpertBeacon readers: Do

Do know your numbers

The best piece of advice is to have a clear understanding of your financials. Without this you can not propel your business forward successfully. Knowing where you stand financially will allow you to know what your return on investment is, if your current marketing strategies are working, when you should hire the right people, and what the break even is. Everything comes down to the numbers, and that knowledge will allow you to know where you need to expand or where you need to cut back.

Do create a solid business model

Have a business model that you can reference at any time to keep yourself and your staff on track, but also allow for updates as they come up. This will help you map scalable growth, and understand where you are succeeding and where you are coming up short. A solid business model will also help you hire the right people, for the right position which will get you the winning outcome you desire.

Do execute

How well are you executing the strategies outlined in your business model? Are the strategies clear? In order to have a successful business you need to deliver on the strategies, and expect your employees to do the same. But lead by example. If you can not execute something, then perhaps your business model needs tweaking. Never make promises you can not deliver on, or will complete poorly. If your employees need extra training to get there, provide them with that. Your entire team needs to be on the same page in order to deliver the best results for your clients, which is a reflection on your business.

Do motivate your employees

The success of your business hinges on many different factors, such as individual talent, workplace dynamics, and leadership. However, paramount to these factors is teamwork. It is essential to have a team of people that work well together and are focused on a shared goal, whether on specific project or for the overall success of the company.

[publishpress_authors_data]'s professional advice to ExpertBeacon readers: Don't

Do not hire out of desperation

You might be tempted to hire the first candidate that comes through the door because you need help with the workload. Do not do this. First define the role you need filled and outline what the responsibilities are, this will help you during the interview process. If you find someone whose qualifications fit the role perfectly, the next step would to make sure their personality is a match for your office environment. Profile the role for the right personality and skill sets. Hire slowly and fire quickly if the person is not a good fit – not the other way around.

Do not ignore the numbers

Getting a thorough understanding of your numbers is sometimes a frustrating experience because you might learn some bad news regarding your financials. But it is essential that you know this instead of sweeping it under the rug. Stay on top of your finances so that you don’t run into a serious situation. Don’t wait until you can’t make payroll. The easiest way to do this is to use a financial tracking software, all the most successful small businesses do.

Do not ignore your database

A lot of companies don’t understand that their database is their biggest asset. Have an organized master list of your clients, contacts, etc. so you know all the accounts you need to manage. Know the cards you’re holding. Your database is also what you sell if you sell your business – that is what another company will want to absorb, not your great office space with a view. So having an up to date list is key.

Do not lose touch with essential customers

If allow your relationships with your biggest to clients to deteriorate, your employees will start to wonder what the real focus of the business is. If they don’t see you putting in effort they won’t either. Your clients also need to feel like they are your most important priority. If they don’t get updates on the progress of their account or they don’t hear from you weekly, they will start to feel like you and your team are not working at your fullest potential for them. Clients keep you in business.


There are an infinite number of tips for making a small business succeed, depending on the type of industry, size of the company, revenue, etc., but the advice outlined above are applicable to all businesses and are what is currently working in our economic climate. Be involved, take initiative in hiring employees, learn about your financials, and map out strategies that you and your staff will be able to deliver on. Your small business needs care and attention at the most basic level. Creating a strong foundation for your business will turn it into a thriving, successful company.

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