Taking small, strategic risks can reinvigorate your brand and bring in new clients and customers.
We often associate the word “risk” with fear-based emotions: Fear of the unknown can be scary and intimidating, especially when it comes to taking risks with our businesses.
A small business isn’t just an investment. It’s a lifestyle.
It’s your job, but it’s also your contribution to a community (or communities) as a whole.
But here’s the thing: not all risks are bad, and not all risks have dire consequences.
Sometimes, small changes can provide big benefits to your business, or even for your own peace of mind, breaking up monotony and adding a little innovation.
Here are 3 simple yet impactful risks for small businesses to take when you want to shake things up without rocking the boat.
Take advantage of relevant trends
Trends come and go. It’s not necessary to jump on every hot new idea, but staying aware of new and relevant products or services for your customer base can benefit your biz. For example: Many regions are now incorporating bans on plastic shopping bags. Have you developed a branded tote line to sell? Another example: CBD oil has become a popular form of holistic wellness; this is a trend that massage therapists, yoga centers, spas, and other businesses in the wellness industry can begin to offer.
Find an ignored niche
Is there a smaller demographic that often gets overlooked in your industry? Try fitting their needs and then promote, promote, promote. I recently found the Instagram page for a green cleaning company who focuses solely on Airbnbs. And have you heard about this niche brewery marketing company?
Reinvent your brand
Complacency can make your business and its promotions stale. Refreshing your logo, website copy, photos, or entire branding can attract a new audience or expand your current one. (Looking for a copy/text update? Contact me!) It might feel like there’s never a good time to invest in these changes, since other priorities come up during your busy season, and cash flow worries abound during slow season. I typically recommend this type of project during a slower time, since you don’t want to worry about website updates or downtime when customers are visiting your site the most.