Before we get into it, I have a two question survey for you to fill out. It'll only take you 10 seconds, I promise. Merci!
Run your small business like a startup
In this issue, we're examining how you should run your business like it's a tech startup. Don't worry, we're not suggesting you open an office you can't afford with unlimited granola and ping pong. We're talking about how big companies scaling fast use tactics that you deserve to employ, too. You're already using the most important one, by having a subscription arm to your business.
Here are three areas to focus on
Think in quarters
Each quarter of the year deserves its own attention. Every business has busy times and downtimes, and they're usually seasonal. Each quarter deserves a fresh start, it's own relevant strategy, goals and... you guessed it, bite-sized to do lists so it stays manageable. They also deserve post mortems. What high-functioning startups do really well is they examine what didn't work. You shouldn't only measure bottom lines and what you're going to repeat, you should also be thoughtful about losses. Plan a retrospective for yourself and go through the learnings, follow what works and drop whatever didn't.
A wise woman once said that your strategy is your boss's to do list. You're the boss. Make those to do lists every quarter and get growing.
Create Spaces Where Everyone Can Belong
It's 2021 and big businesses are trying to do better. Your small business should be doing the same. If you're not focusing on diversity, inclusion and belonging, it's time to wake up. By opening your heart and mind to the unfair systems around you, you'll become more empathetic and grow your core community (and your bottom line).
Who are the people in your neighbourhood? Who do you serve? Who don't you serve yet, but want to? Are you participating in your community in a way that makes it better for everyone in it? Does your clientele represent the world you stand for?
That paragraph was all questions, as it should be. Belonging work is asking hard questions and growing for the better.
If you're new to this, but committed to this important growth, this is a good place to start.
Know Before You Grow
Take the guess work out of success by using tools available to you, both on Subkit and within your own personal toolkit, AKA your ever-evolving subscription knowledge.
On Subkit, the waitlist feature is designed to keep you from wasting your time with a plan that doesn't work for your community. Use it. Find out what your community wants and what it's worth to them. If that lines up with something you're excited to offer, then launch that plan. Tech companies are always using waitlists to create buzz and capture information before they put something live. Do the same.
As for the personal toolkit in question, go back to point one. This is just about being thoughtful with the information you have. Always be learning from wins, mistakes and keep iterating on your core offering. The homework never ends, but that's OK, you love what you do. Take the time each quarter to sharpen and tighten. In turn, you'll spend more time on what works and less time burning yourself out.
Want to continue chatting about one of the above topics? You know I'm here for you: evelyn@subkit.com