Being the owner of a small tech business or a start up comes with a unique set of challenges due to the size of the business. The owner has to tackle all the challenges related to selling or delivering the product or service, financing as well as growing the business with very few or even no staff in attempting to make it a success. Here are a few tips to handle these challenges better and retain all stakeholders, including customers and vendors and make a success of your venture.

Taking Assistance from your Banks and SBDCs

You can run your start up more efficiently by taking advantage of all the options that banks offer such businesses. Select the right bank that suits your financial plan. There are many banks that offer you accounts at low fees and provide loans at discounted rates or even programs of free direct deposit. Do your banking with such banks that offer the best deals to stretch your dollar to the maximum.

There are also local SBDCs or small business development centers that can offer assistance at all stage of the business. They can help you with plans of approaching a suitable lender with free counseling thrown in.

Networking

You can get the support of other businesses, by networking, joining business associations and taking part in community events, so that awareness regarding your business is increased in the local community, leading to increased customers for your business.

Using an Answering Service

Every cent and every contact is of utmost significance for a small business. With the help of a small business answering service, you can get your business calls managed by professionals. You can provide them with the necessary directions. These are offered at very affordable rates and will allow you to spend more time on your business activities. Clients and prospective customers are looking out for quick answers. If they call you and you are not available to pick their calls within two to three rings, they usually hang up. Even if you have a voice message on, prospective clients are very likely to immediately call up the next company on their list till they are able to make a quick contact, instead of waiting for you to get back. It also works out much cheaper than hiring a part time or a full time receptionist.

It is very important that you keep your existing customers happy and also keep attracting new customers. A professional small business answering service can be the perfect solution to offer ready answers to queries. You can customize the service with your requirements with customized scripts and guidelines for troubleshooting. A friendly manner and voice can make a world of difference.

Efficient Management of Inventory

A small business thrives on efficient management of inventory, which can make or break your business. Make sure that you are maximizing every penny that you spend. While investing in the inventory, it is a good idea to buy in limited or small quantities and keep a regular check over the numbers, so that you are aware of what is moving steadily and what is not. The inventory should also be rotated on a regular basis, so that slow sellers can be replaced with faster ones or new items.

Organization

Always stay organized regarding financial aspects and with respect to your employees, the inventory and your time. You can create a spreadsheet and keep track of your expenses and other small details. Keep a check of the latest trends in your business to remain competitive. You can also subscribe to magazines and relevant periodicals, so that you can remain aware about the goings on in your business. While employing people, see that you get the services of certified people. This ensures that your business is equipped with certified professionals, who have good skills. It also inspires confidence among customers and prospective clients. Get references from satisfied clients, as this will provide further certification regarding your work to future customers.

A Friendly Answering Service

If you want to run a successful business, you must make efforts to stay in touch with your customers as well as potential clients. Above all, to make a success of your small business, it is a good idea to invest in a professional small business answering service. One of the significant benefits is that it improves your business image. A cheap toll free number with an automatic greeting is not going to get the customers flocking to your product. Research has shown that if the potential customer is not able to hear a live voice on calling, they will hang up and move on to the next option. A pre-recorded message does not provide your business with the necessary credibility. A live professional and friendly voice from a small business answering service that answers customers with your business name gives them a sense of confidence and proves the legitimacy of the business.