How to build a successful small business in South Africa

8-Feb-2023-CLOUD

The Start of your SME

Although most new business owners wish their experience will feel like a sprint, running a successful business is definitely more like a marathon – one with plenty of obstacles! One thing we know is that marathons take preparation. While your goal for success may revolve around revenue growth and increasing your physical footprint, a few tried and tested strategies can be implemented to make your preparation for success that much smoother.

5 Steps for Success

01

Stay client-centric

A unique offering of most small businesses is their ability to reign in a customer focussed approach. If customers feel valued in your space, they are more likely to return (and refer you to friends and family). With direct customer access, small business owners tend to be more in touch with what is needed to satisfy their customers. As a result, they can drive profits by meeting these needs.

02

Give yourself a marketing boost

One of the most important and often disregarded parts of running a successful SME involves stellar marketing. How you handle your advertising can be the ‘make or break’ of your brand’s visibility to your target market – so treat it wisely.

03

Analyse your online presence

From your website to social media accounts, your brand carries various digital footprints that have the potential to be your business’s first impression to potential clients. Is it a good one? Taking the time to analyse how your business appears online, and improving it where necessary, can help improve lead generation and sales.

04

Master cash flow management

Sticking to your budget is a key part of what contributes to your business’s success. When starting, things like cutting unnecessary costs and keeping cash in reserve can help ensure that your business only incurs “good” debt.

05

Time to get techy

The innovation of business management systems has flourished in the last few years. From cloud accounting that streamlines your financial operations to CRM systems that help you fine-tune your day-to-day processes, the opportunities are endless!

Supporting the Success of your SME

The financial professionals at MMS Cloud Accounting are trained to work alongside small business owners to maximise their success with outsourced accounting services. Our affordable monthly packages are designed to ensure every SME has access to financial information that supports their needs. Get in touch with our professionals for more information.

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