5 Ways To Reinvent Your One Person Business

To stay competitive, you need maintain your business in excellent condition.  Maybe time has passed and a full scale overhaul is in order. Perhaps you just need a couple of patches here and there.  In any case, it's time for a refresh.

Here's 5 ways to reinvent your One Person business.

 1. Create a new strategy

Identify the obstacles facing your business and determine the challenges you need to overcome.  Once you have listed your difficulties, consider possible actions to overcome the hurdles.  Is your industry saturated with competition?  Can you explore new markets to serve? How can you appeal to a new target market? Can you add a product or service to make your offers more compelling?  Set a new vision, mission, and goal for your business.  Challenge the assumption of your business and ask why your business exists. Lastly, consider speaking to a consultant or external advisor for some objective insight.

 2. Change the feel of your business

Devise a new logo and color configuration.  Refresh your website.  If you aren't on social media, get involved by creating a blog and beginning new channels across the major platforms (FB, LinkedIN, Twitter, G+).  Rewrite your marketing material with a new position and spin on your business.  The key is to shed your old business skin and transform your look to reflect the underlying change that you are preparing with your new strategy.

3. Make quality your top priority

Consumers are empowered with plenty of choice.  No longer can you offer good service and expect to retain clients.  You must focus on delivering remarkable service and truly go above and beyond the call of duty.  Delight your clients by presenting them with unexpected value.  If they are expecting X, give them X+1.  People will remember exceptional service and products. Strive for quality in every aspect of your business.

4. Communicate with your clients

Listen to your customers carefully and take their insight to learn where your business can improve.  Ask them questions in a LinkedIN group page.  Invite them for their input at a live webinar. Run a contest for your customers.  Send them a weekly or monthly news bite with relevant and helpful information.  Make sure you are in contact with them frequently in order to develop and solidify your relationship with them.  

5. Get your costs down

In a time when you are looking to reinvent yourself, cost cutting measures are a must. You can cut up to 40% of your medical costs by using a Health Spending Account by having your company pay your medical expenses. Most Health Spending Accounts have no premiums, no deductibles, and are specifically designed for a one person business. Get cost control with a Health Spending Account and your business will thank you for it.

Do you operate a one person business in Canada? Find out how to significantly lower your business costs with a Health Spending Account by downloading the free Beginner's Guide to Health Spending Accounts.