But as a small business owner, the value you add to your community extends well beyond jobs that keep residents working and spending close to home. So, let’s explore how you can benefit from your give-and-take relationship with local clientele.
As the creation of a whole that’s greater than the sum of its parts, synergy is the best way to describe what happens when you contribute to the community that you’re a part of - and that community supports your business in return.
For example:
Your business gives … a personalized customer experience, care and awareness in terms of how your business decisions affect your neighborhood, economic benefits attached to shopping and sourcing supplies locally, and a sense of community identity and cohesion – whether you run the local yoga studio, café, or restaurant.
Your community gives back by … spending money at your business, supporting your entrepreneurial lifestyle, contributing to the neighborhood’s commercial viability by keeping tax dollars in the community, and prompting municipalities and tourism boards to preserve the local flavor created by local businesses like yours – drawing even more customers to the area.
By supporting small businesses in their communities, local residents are also supporting the neighbors who work at them. Those neighbors, in turn, eat, shop, and play locally, creating a healthy, vibrant commercial center that reinvests profit back into the community.
Whether it’s through meeting prospective clients, increasing your company’s exposure, or developing new business partnerships, cultivating your synergistic relationship with the community can boost your success and help your extended neighborhood thrive.
Here are 5 ways your business can continue to add value to your community - and the benefits you can expect in return:
Successful small business owners are actively involved with their communities. Consider demonstrating your neighborly side by:
Not only will initiatives like these give you the opportunity to network locally, they can do wonders for your brand exposure.
Does your town, city, or community boast a market, festival, or annual parade? As a minimum, you should be attending these events to see and be seen. Even better, however, would be taking advantage of the chance to set up a tent, sponsor a float, or compete in a charity run. Participating in local events can help you and your staff become recognizable in the community - and it will give your business something to blog about.
If you’ve got the time and the physical space, why not host local groups or activities at your place of business? The possibilities are endless, but could include:
There’s very little – if any – cost attached to offering opportunities like these. But there’s a good chance your business reputation will benefit - especially if events draw the interest of local news media.
One of the best ways to show appreciation for local clients is to reward them for their loyalty. Consider surprising customers from time to time by:
Remember: the gesture doesn’t need to be large. Finding simple ways to remind your clients they’re valued is a proven way to generate goodwill for your business.
When you join forces with other entrepreneurs in the community, you’ll significantly increase your synergistic reach. If you don’t have ready access to one, consider starting a small business association where local owners can:
Whether directly or indirectly, cooperative efforts like these benefit your business, your business district, and the community as a whole.
Supporting one another’s businesses also encourages benevolence among local companies so that, when any one business succeeds, that success is more likely to ripple outward in the form of increased local traffic and word-of-mouth recommendations.