It's taken me a few weeks to figure out how to address the subject of the election and its impact on small business. There really isn't a reason, except I wanted most of the furor and angst over the election results to resolve into resignation and getting back to business.
There is so much uncertainty with the incoming administration. But that's common, regardless of who is elected, no matter the country. Each person filling the top role in a country's government has their own take on how their government will run; whether or not it actually happens is a different story.
After lots of thought and research, along with many discussions, here's the bottom line on how business is going to run under President Trump:
- Each small business will need to meet the needs of its customer. When a client signs on with your business, you'll need to be careful to make sure you're actually doing what they hired you for.
- Marketing will be critical. Just because you build your business, doesn't mean they're going to come unless you market your company. Social media, email marketing, content marketing and storytelling are all integral to your success under the new president.
- You'll need to know what you're doing. Businesses who slide through and are barely competent won't last more than a year, at most. So make sure you're doing what you say you're going to do and do it well.
- Your customer service will need to be stellar. Your customers will expect to be treated like they're paying you to do your job. I know it might feel unreasonable, but it's the way it is.
You might think I'm doing this tongue-in-cheek and you'd be right. Going into business for yourself is risky. Being a freelancer or a small business owner puts your entire life on the line. It won't change, no matter who is president, who is in Congress. The biggest threat to your business is what it's always been - you. How you run your business will have a bigger impact on whether or not your clients return and whether or not you're successful than anything the federal government can do, regardless of who is president.
The bottom line - do your very best to do what you're best at - running your business.