You can prepare your small business for 2023 after the unprecedented changes of 2022, as businesses and consumers adapted to life after the worst of Covid-19. While many small business owners had high hopes for 2022, the year threw them quite a few curve balls that they were not prepared for.
When customers have a positive experience, they will be more likely to give your business a positive review, share their experience with others and return for a repeat sale. The cost of ‘upselling’ to an existing customer is significantly less than onboarding a new one and therefore it is a good idea to focus on building a loyal customer base in the years to come, he says.Now is a perfect opportunity to do a SWOT analysis for your small business.
“Threats are also regarded as external factors and will include any aspects that may be standing in the way of expanding your business and could include more stringent regulations, rising material costs and changing consumer demands.”Look forward to 2023
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