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How do you measure success as a local business? If you are running a successful business and you are at 80% + capacity, there is still room for you to grow. Local advertising is becoming more important as more and more competitors come into your market for the very same product and service you offer. As population growth continues across Canada, more opportunities become available. Running a successful business is challenging enough but would you stop advertising if you relied solely on referrals and word of mouth? Here are the top reasons when you do not need to advertise because you are too busy.
There is a 2 week to several months waiting list year round for your product/service
If you are running a service industry and you run into this situation where you have a wait list for weeks or months in advance, you are running at over 100% capacity. You may want to consider expanding (multi-location) or increasing your staff to satisfy your growing demand for your service. If you are a retailer that makes your clients wait for products to be shipped, find ways to be more efficient on your inventory system management. Or else those clients will be purchasing elsewhere or even online.
You no longer are able to take on new customers/clients
If you are at a point where you are turning down business, please think about ways to service these new prospects. Most businesses would love to be in your situation so why not help them out by referring some new clients to them, build a strong referral network or find partners who can help you scale your business.
I am working 80 hours a week just to service all my clients
Having a well-balanced life is the key to happiness. Although you may enjoy working 80 hours a week, try not to burn out doing so. Having balance in your work and personal life is very important. If working 80 hrs a week is what you need to do to pay all your bills and expenses and it is for a short period then yes that is ok to do. However don’t make it a habit to work 80 hours a week for multiple years. Ask the question: Are you working to live or living to work?
You are finding it hard to do what you love most, servicing your clients
What are you busy doing for your local business? Servicing your clients or are you spending your time doing customer service, book keeping, collecting outstanding invoices, running your day to day operation, etc. If you are investing your time on things that don’t drive you revenue, then why not find someone to do those tedious tasks and so you can focus on your strengths. Time management is critical for all local businesses owners who want to become successful.
If you are a local business that are in one of the situations above and you feel that advertising is no longer important for your business, be careful because your competitors are still advertising and maybe convincing your existing clients to switch over to them. There are many ways to advertise, however, it gets neglected by local business owners when they get too busy. Consult Local SEO Search to find ways how search engine optimization can help you maintain your existing clients and cultivate new clients from major search engines like Google, BING and Yahoo.