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We're heading into the Summer, well vacation period in the next couple of months and we’d like to kick it off with some practical Marketing ideas that you can use!
 
Small businesses are a crucial part of the local economy and many of them are catalysts for bringing about change, but these businesses without a doubt, do have it difficult because they are in a competitive space, and they (many small business owners) lack the “soft-skills” needed for running a business, and they (many) see themselves as simply ‘hustlers’, and not businesses, and don’t set themselves up for growth and long term success. And of course, there are inevitable economic issues that have placed a strain on many of these micro, small and medium-sized businesses — a struggle exacerbated by the coronavirus pandemic.
 
Thankfully, a few persons/organizations have set up initiatives to help support and level the playing field for MSMEs. These initiatives include South Market and others alike which inspire the local community to “shop local and shop small” throughout the year.
 
Today we share some marketing ideas that businesses can apply to help boost sales for any occasion. Let's dive right in, shall we?
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2021 just hit like 2020 and micro and small businesses are no doubt still having some problems either pivoting or adapting.

However, there is still reason to be somewhat optimistic about the future of some micro and small businesses. But this grandeur future won’t come without the work. For the businesses sitting around and waiting for the “normalcy” to return, you may have quite a long wait and your business may suffer while you wait.

In the grand scheme of things, businesses have to literally now “mind their own business!” Your survival depends on what you do now AND what you don’t do.

Here are some key things that can contribute to your survival and success:

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So, this showed up on our feed today.

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In our last article, Is it time to close my business, we mentioned that when the time comes to move on, Entrepreneurs ought to have an exit strategy, as properly...and gracefully closing things off legally and financially will improve your chances of transitioning smoothly into another venture.

No doubt, the idea of ceasing your business will be a tough and difficult one to process, but you would need to put emotions aside and close your business the right way, so as to avoid you further distress and setback.

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This one is going to hurt your pride most, we know.

Though some MSMEs may be seeing the end of their venture, we must send some comfort their way – some doors close so that others may open. For some, this usually means the start of something new.

When the time comes to move on, Entrepreneurs ought to have an exit strategy, as properly...and gracefully closing things off legally and financially will improve your chances of transitioning smoothly into another venture. So how do Entrepreneurs know when it is time to shut the door and move on? It is indeed a difficult realization that most must come to. The end may also be inevitable, and it is just a matter of when. Here then, we find Entrepreneurs holding on with every last bit of hope, cash, and pride, as they slowly come to terms with what has to be done. We do not always have the ability to foresee the end or detect the time at which we need to move on.

Even successful Entrepreneurs can be faced with the decision to fold for one reason or the other. It must be noted that a failed business does not define an Entrepreneur. In this fast-paced, ever-changing, global digital era, adapting, pivoting, transitioning, and even evolving, can mean shutting a present business down to start a new project, perhaps using a different model, different tools, different principles, and different objectives so as to now cater to the changing shift in buyer decisions and consumer demands. Consequently, it is imperative that businesses are able to monitor and identify the signs that will indicate when the time has finally come, to shut the doors on a teetering venture.

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Cherise Castle-Blugh is the author of The Timely Entrepreneur Series and the Director of Entrepreneur Services at The Timely Entrepreneur®. She has been working to grow the Trinidad and Tobago Entrepreneurial community, creating resources and events to support entrepreneurs.