The calendar year is coming to an end. With the turn of a page comes a clean canvas for new trends in the small business market. As many large retail outlets are struggling, 2019 is looking to be a great year for entrepreneurs. Here is everything you need to know for succeeding as a small business owner in 2019.
Ethics Added into Algorithms
In the wake of social media’s influence on elections, algorithms are being taken more seriously. This is especially true for business. If someone searches for a business with location services on, businesses with better reputations are going to appear on a search engine above others that are less favorable. Even if the less favorable place is right around the corner, if there are reputable establishments within a 20-mile radius, the unfavorable business will end up on page 2. As a small business owner who provides good service, try to encourage your loyal base to give a Yelp! Or Google review. Every extra character added to your business’ web presence adds stock to your cumulative rating.
Customization and Demand
From Blue Apron to Amazon Pantry to Dollar Shave Club, the niches have gotten niche…ier. As a small business owner, you’re going to have to play like the big leagues but remain personable. When almost anything in the world is a click away, you need to respond to customer inquiries promptly. In the case of shipping, be sure to complete orders and get them out as fast as possible. Lastly, find any way to personalize your relationship with the customer. Little gestures such as including their actual name in a blast email can go a long way.
Payment Methods Might Change
The world of banking is evolving. From Square on an iPad to Apple Pay to the new EMV chips on debit cards, businesses are expected to keep up with the times. Now Google, Amazon, and Facebook are all looking to get into the payment methods industry. Then, there’s the slow rise of blockchain. Now more than ever, the traditional banking method may be in jeopardy. This can undoubtedly change the way you operate your small business.
Cyber Attacks on the Rise
Digital banking has become the norm. With this being said, the rise of cyber attacks is expected to continue. Nothing will hurt the credibility of your small business more than being a conduit for a data breach. Be sure all of your Wi-Fi signals are secure. Install a malware system on any computer that has access to your business files.
Keep Employees Happy
Unemployment is at a low right now. This is a great thing. However, that means good help is going to be hard to find. That’s why you should do what you can to placate the ones you have. Besides, no one likes to work in a bad environment. Treat the ones you have well, and they’ll be willing to go the extra mile for you.