You might not expect it, but Reddit is one of the best places on the web for business advice. Users on Reddit’s Entrepreneur subreddit recently posted a great guide to exceptionally simple tips that make a big business in running a successful business.
Here’s what Almost Millions learned:
Reddit Entrepreneurial Tip #1: Follow Up On Promises ASAP
If you speak with a client or potential customer, follow up with them when you say you will. If you think you might run over deadline on a project, let your client know.
You want to avoid missing deadlines if something unexpected happens and help build your professional reputation. Make sure your customers and your community know that you’re reliable.
Reddit Entrepreneurial Tip #2: Listen To Your Customers
Your customers are your best source of information and the people who make you money. Make sure to listen to your customers, talk and engage with your customers, and to sell to your customers.
Follow these steps and you’ll do great in business.
Reddit Entrepreneurial Tip #3: Underpromise & Overdeliver
One of the biggest challenges people new to self-employment, freelancing, and running a small business face is overpromising clients.
Don’t set expectations that are difficult to live up to down the road. Instead, underpromise & overdeliver.
Reddit Entrepreneurial Tip #4: Have A Set Of Processes
90% of running a business is having processes.
Processes are routines and tasks you know how to do by heart for everyday parts of your business. Set up processes for things like pitching customers, invoicing, checking inventory, marketing on social media, and answering your daily voicemails and emails.
Turn these processes into habits you know by heart and can easily implement.
Reddit Entrepreneurial Tip #5: Track Every Dollar
When you’re self-employed, it’s easy to lose track of your business expenses and the money you spend for work purposes.
This is one of the biggest ways you can get into trouble when you’re self-employed. Business expenses can easily spiral out of control and become a major issue.
Use bookkeeping software like Xero or a detailed spreadsheet to keep track of your spending and identify unnecessary business expenses.
Reddit Entrepreneurial Tip: Other Resources
Reddit For Freelancers & Small Businesses: A Guide (Almost Millions)