As workplaces and highstreets gently reopen after lockdown, thousands of Australian small-business owners may now be looking at the road ahead with a sense of trepidation. While restrictions are easing, there’s a lot of hard work on the horizon and none of us quite know exactly what the “new normal” will look like. But for those who are resilient and motivated to overcome challenges in the pursuit of a more autonomous and rewarding career, running a small business can provide immense satisfaction.
Sometimes tackling a significant challenge can feel more achievable by breaking it down into smaller, more manageable milestones. In times like these, setting and achieving milestones could help provide small-business owners with the satisfaction that comes with overcoming obstacles, strength for tougher times and make the journey all the more meaningful. Here are a few of the milestones that may break the current challenge down into more manageable and celebratory nuggets.
Choosing your business name and registering your domain name
Many small businesses pivoted online during the pandemic. And while restrictions are easing and high streets are reopening in Australia, the benefits of a digital presence don’t diminish because of that. Businesses active both online and as a bricks-and-mortar store can provide a more holistic, convenient experience for their customers. Therefore, if you’re not yet online, milestones like registering a domain name could be the first source of satisfaction as you plot a longer-term digital strategy.
With an online presence potentially an important platform long-term, it could be a significant milestone for many more small-business owners as they seek to evolve and grow after restrictions have lifted.
Your first day
Whether you’re opening a physical store or activating your website or eCommerce store, your first day is an exciting step. Almost one in four business owners surveyed told us their first day, and the excitement of being open for business, is one of the most important business milestones. If you’re already a business owner, your first day has been and gone. But what about setting another milestone, and celebrating your first day back in your store after restrictions lift, or the first day your sleek, updated website goes live?
Making the first sale
Our research showed making the first sale, engaging the first client or locking in the first job were some of the most important milestones for nearly half of (44 per cent) small-business owners. With small businesses feeling the economic effects of COVID-19, it’s important to not just recognise the first sale, but each and every sale thereafter, too. Take a regional small businesses like Giant Tennis, for example. While they’ve taught countless people to play tennis over the years, the first few in-person lessons in their re-opening might feel like a real ace for them!
Reaching a significant revenue milestone
Whatever stage you’re at in your small business’ life, consider how to maintain growth and treat that pursuit as a source of inspiration. Financial targets, for example, are a great way of not only tracking this growth, and can be rewarding milestones over the coming months. So consider setting small, manageable financial goals and focus on making them happen.
While it’s likely there will be ups and downs along your business journey, even after COVID-19 restrictions are fully lifted, celebrating the victories, whether big or small, can help remind you why you began your journey in the first place. Not only that, but the milestones you can still chase over both the short- and long-term can be a source of great satisfaction and make you more resilient for the road ahead.
Suzanne Mitchell, Australia Marketing Director, GoDaddy
