4 Reasons Why Small Business Owners Must Monitor Online Reviews

“Writers … fall into two groups: those who bleed copiously and visibly at any bad review, and those who bleed copiously and secretly at any bad review.” Isaac Asimov specified writers in this famous quote, but his words could apply to business owners as well. You might be too emotionally attached to read what Yelpers are saying about your brainchild, but someone in your business needs to keep an eye on review sites. Explore four reasons why you shouldn’t ignore those online reviewers.

1. You Get a Second Chance

Of course, you wish your customers would talk to you directly when they have an issue and spread the word to others when they’re happy. Customers don’t always follow that model. Instead, they often choose to leave your business by fuming and venting on a review site.

All is not lost, however. Occasionally, you can reach out to that reviewer, briefly explain why the experience isn’t typical of your business, and entice the person to give you a second chance by offering a free product or service.

2. The Feedback Has Value

Not every negative review is valid. Some customers bring unrealistic expectations or personal issues into your business and leave unhappy. But a pattern of customers complaining about similar issues gives you vital information about your own blind spots and the issues you need to resolve to be successful.

If you can’t tolerate reading your own reviews, at least have someone skim them weekly or monthly and ask your review monitor to tell you if a pattern develops. Those bad reviews can help you improve your business operations.

Small Business Owners: Are You Looking After Your Money Carefully?

Money in the bank is everything to small businesses. If you don’t have enough cash, you will experience cash flow problems which could hold up some of your operations. You also need plenty of money to help the business grow and develop. Not only that, though, but it is also useful to have plenty in the bank if you ever hit a rocky patch.

But even though money it acutely important to small businesses, there are still some who aren’t looking after theirs as well as they should. Here are some of the ways various small businesses regularly put their money at risk.

Not Using an Accountant

Many business owners try and track their finances and file their own taxes on their own. This is especially the case for businesses that are only a couple of years’ old. However, if you don’t have any financial experience, this can very quickly go wrong. It is always best to have an accountant from the outset. That way, they can keep you on track, and you can be confident that you aren’t going to be fined for getting your taxes wrong!