Whether you’re dipping your toe in the water to see if a side hustle could be the basis of a new business or if you’re already all-in and running a corporation, it’s important to create systems that help you attract and land more business.

The best place to start is with a lead management system. Your sales leads are potential customers or clients.

Depending on the product or service you sell, your process may look something like this: 

• You receive a referral or connect with a potential client and have an email exchange to confirm they’re looking for someone like you. Or if you run a brick-and-mortar business, your prospect may walk through your door.
• You have a conversation, which may include offering to schedule a phone or Zoom meeting to learn more or simply chatting in person during their in-person visit.
• The discussion goes well, and you follow up with a proposal or requested information.
• Silence from your potential customer.
• You move on to your next potential client.

I don’t know about you, but when work is overflowing, that’s often my process. I haven’t done much in the way of checking back in, sadly. Yet I know that my business could benefit from more of a process to stay in touch with people who have expressed an interest in my services. Maybe you feel the same way.

Research has shown that organized follow-up converts more prospects into clients. One such statistic indicates that only 2 percent of sales are made during that initial conversation and that 80 percent of leads require five or more follow-ups.

Of course, that’s hard to do if you don’t have an internal system to capture, track, and schedule future follow-ups.

If this makes sense to you, here are some suggestions for creating your own lead management system.

Create a lead capture process

The first step, once you’ve identified someone as a potential customer, is to put all of their information into a database of some sort. I’ve used Excel spreadsheets, but I have found that they can get cumbersome once you have a steady inflow of leads.

You may want to create your own lead capture form (on paper or online) that collects basic information, such as: 

• Name
• Contact details
• How they found you
• Basics of their product or service needs
• Timeline
• Any financials you’ve discussed
• Any notes you took or additional information about what they’re looking for

You can then take those completed forms and use them to enter the details into a lead management system, or delegate that task to someone else on your team. But a completed form is what triggers an entry into your online system.

Characterize your suspects

A Kodak salesman I worked with years ago used to call companies that had not yet confirmed they were interested “suspects.” Once they asked for a conversation or more information, they moved into “prospect” territory.

When you have a lead to enter into your system, you’re going to want to classify them according to their stage of decision-making. Many companies use something like these four basic categories:

• Hot: They have been researching your type of business for a while and are ready to move forward and understand the financial investment required
• Warm: They have expressed interest but are not ready to sign on the dotted line. May need some ongoing nurturing to convert into a client.
• Cold: Either they expressed interest and have gone quiet, or they’re interested but are not actively considering proceeding right now. May become a prospect in the future.
• Not interested: If at some point someone tells you they are no longer interested in your product or service or that they’ve hired someone else, you may want to keep this information for future reference, even if you’re no longer pursuing them.

Every time you interact with your prospects, you may get additional information that helps you reclassify them. They move from warm to hot, or from cold to not interested, for example. Continually updating this data helps you recognize where you should be investing your time.

Choose a centralized tracking system

As you begin to separate your leads by interest level, you’ll want to add other details you’ve collected, such as from your lead capture form or from emails you’ve exchanged or Zoom meetings you’ve had. It’s easiest if you put that in one place.

I’ve used a simple Excel sheet for years, but I’m in the process of switching over to PipeDrive, which is an online platform. 

Other platforms to consider include:

• Notion
• Hubspot
• Monday
• Dubsado

When you’ve chosen where you’ll be storing all of your lead information, you’ll want to decide what information will be useful to you. That will then determine what fields you’ll want in your database. Some of the fields I’m using and adding are:

• Name
• Source (meaning, where they came from, or how they found you)
• Type of work or product specifications
• Date of first contact
• Category (hot, warm, cold—if they’re not interested from the start, don’t bother adding them to your database)
• Last contact date
• Next follow-up date
• Proposal or quote date (if you’ve provided one)
• Estimated project value (some people also attach a percentage to represent how likely the deal is to close, which helps them track the amount of work that they could land)
• Notes (comments and conversation summaries help you recall where you left things and what may be holding them back from hiring you

Using an online system also allows you to automate follow-ups, which are what will turn a warm prospect into a client. Very, very few inquiries will immediately turn into a client. While some products have a short sales cycle, such as clothing or food, others may require months or even years to come to fruition, such as with government contracting or construction.

Decide on your follow-up sequence

You know you need to follow up, but you don’t want to be a nuisance, so determine up front how often you’ll check in. Your cadence could look something like this: 

• Initial inquiry response (immediately): Thank them for contacting you, ask about their project, budget, etc., and suggest a brief discovery call. If you use Calendly or a scheduling app, you could include a link to your schedule and also have some qualifying questions embedded there.
• Meeting follow-up (immediately after discussion): Thank them for their time and reiterate what you promised to do, such as send them a quote by Thursday.
• Post-proposal follow-up (Day 3): Ask if they have any questions about your proposal that you could clarify.
• Post-proposal follow-up (Day 7): Ask if they have a timeline by which they’ll be making a decision, assuming they’re interviewing several potential vendors.
• Post-proposal follow-up (Day 21): Tell them you’re just following up again to see if they’ve made a decision.
• Post-proposal follow-up (Day 40): Tell them it sounds like they’re not ready to move forward right now, so you’ll keep in touch in case something changes.
• Long-term nurture sequence (monthly): Assuming you already have prospects’ permission to stay in touch, you could send out a monthly newsletter with news and tips related to their purchase.
• Birthday and holiday greetings: If you happen to know their birthday, sending a quick “Happy Birthday” note can help keep you top of mind, as well as a short holiday note or card.

Track results

Once you have your lead management system set up, you’ll want to monitor how things are going. While sales are certainly your primary metric, there are other data points you can monitor that will give you a sense of where issues may lie.

For example, if your number of leads isn’t growing or your conversion rate (the percentage of leads that become clients) is declining, you’ll want to take steps to turn that trend around. Similarly, you may want to monitor your average proposal size as well as your best source of leads; where are most of your clients coming from? And how long is your average sales cycle? That’s useful to know during those months when things seem eerily quiet.

If you set up separate fields in your lead management system that track this information, you can see how your sales process is going and know when it’s time to make changes.

Of course, the only way a system like this will be useful to you is if you use it consistently. Whenever you have a Zoom call, conversation, or email exchange, update your lead management system. Otherwise, your data will be out of date and hard to evaluate.

Just don’t give up too soon. Use your system to build relationships that can result in work or refer you to other prospects. And that’s how you continue to build a sustainable business.

The saying, “It’s not what you know, it’s who you know,” has never been truer in business.

Relationships frequently give business owners a foot in the door or a leg up in being considered for a contract. And since the Old Boys Network has been fully operational for generations, women who have entered the business realm often are at a disadvantage; it’s hard to break in .

Fortunately, new tools and communities for networking have emerged, designed to connect women business owners with one another and with supporters who can provide them with a competitive edge in business situations.

However, many women’s business programs, including communities and coaching offers, are targeted more at beginner business owners than at established six and seven-figure entrepreneurs.

That means successful women business owners at that level frequently are doing more to help others get up and running than to work on growing their own businesses. The networking opportunities, in most cases, are at best lateral connections rather than upward-oriented; that is, they’re not meeting many business leaders who are ahead of them in their business journey.

That puts women business owners at a disadvantage. Entrepreneurs trying to figure out how to grow and scale need to hear from founders who have been where they are. They may need help in finding banks willing to lend to them, recruiting services that can deliver a steady stream of capable job candidates, or maybe an attorney with M&A experience. When growth from $1 million to $10 million is the goal, or maybe $250,000 to $500,000, you need peers who can walk you through how they did that.

The Value of Networking with More Established Entrepreneurs

Surrounding yourself with women business owners who have surpassed your own level of success, you can tap into opportunities and information relevant to more established businesses. 

Some of the opportunities you may find with more established networks include:

• Peer mentorship from fellow business owners who have been where you are now.
• Introductions to business leaders, investors, and board members who are active in your industry or region.
• Joint ventures with other businesses similar in size, or in the same industry.
• Investment opportunities with area companies.
• Funding avenues you may never have heard of.
• Counseling and advice regarding complex problems and situations you’re facing.

Being in the same room with business owners who are already where you want to be in terms of growth, you can listen to conversations about what’s keeping them up at night, what solutions they’ve recently implemented, or technology they’re testing that you might never have thought of. The discussions are different because the challenges are different when you have more employees, more products or services, and more customers.

Finding Networks of Established Women Leaders

While there are plenty of online and in-person communities for women business owners, identifying opportunities to connect with six, seven, and eight-figure business owners is more limited. Fortunately, more places to connect are cropping up.

Some of the emerging programs and communities for women entrepreneurs and women leaders include:

Women Presidents Organization 

The Women Presidents Organization supports female entrepreneurs by connecting them with each other and with learning opportunities. To be considered for membership, candidates need to have an ownership interest in and be responsible for the daily management of a privately held business generating at least $1 million in gross revenue (service) or $2 million (product). There are local chapters nationwide.

Chief

Women corporate leaders should consider joining Chief, for C-suite executives, to network with other women at their level. Membership isn’t cheap, but then the opportunity to network with women of this caliber is hard to come by.

Goldman Sachs 10,000 Women 

Women business owners around the world who are looking for business education, access to capital, and networking and mentoring opportunities, Goldman Sachs 10,000 Women program may be a smart starting point. Women who complete all 10 of the courses are invited to join the Goldman Sachs alumni network.

Strategic Coach

This paid coaching program serves established business owners looking to grow or scale. Strategic Coach offers a combination of business and group coaching and mentorship.

Vistage

Vistage offers CEO advisory services and peer-to-peer coaching through regional groups. Created to serve business leaders, this paid program is focused on fostering growth.

All Raise

Women business owners have historically had more difficulty securing needed capital for growth, whether from banks or investors. In response, more women-focused angel investor groups have been formed, including All Raise. This 501(c)3 organization has brought together more than 3,000 women and nonbinary investors to support other women businesses.

Female Founders Fund

For more than 10 years, Female Founders Fund has risen to become the leading source of institutional capital for women entrepreneurs, raising seed capital with $3 billion+ in enterprise value.

Golden Seeds

Similarly, Golden Seeds is focused on helping women entrepreneurs raise capital. Today, it is one of the most active early-stage investor firms.

Over time, your networking needs will inevitably change and shift. The type of support and guidance you needed when yours was a $50,000 company is very different when you hit $500,000 or $5 million. You may need to step down from involvement in programs or communities where you’re doing more advising than receiving coaching, in order to make time for other groups where you can get help leveling up.

Fashion designer Monika Reyes Maldonado, founder of San Juan-based Moy Studio, crafted an award-winning WomensNet grant application. She applied for and won the October 2024 Amber Grant worth $10,000 and then won the 2024 year-end WomensNet grant valued at $25,000.  

Her strong vision for a business that honors past generations of sewers, by “making fashion more responsible, one stitch at a time,” caught the advisory board’s attention. On top of her mission to rejuvenate sewing skills and foster sustainable practices, Reyes Maldonado provides strong evidence of her company’s growth trajectory and the positive impact a grant will have on the business. 

That’s what secured the win for her.

Compelling Story

From the start, Reyes Maldonado grabs the reader by explaining the need for the lost art of sewing and ties it into today’s pollutant-producing fashion industry. She says, “In the past, our grandmothers were skilled at making or altering garments — a tradition that has been largely lost in today’s era of low-quality fast fashion.”

Then she segues into the Moy Studio story. Reyes Maldonado began teaching sewing and pattern making in her living room, eventually growing it into a “fashion design school that teaches sustainable practices, helping people create and repair their clothes while reducing their environmental impact.”

The business was born out of necessity, as Reyes Maldonado had lost her job after Hurricane Maria struck Puerto Rico in 2018. But that job loss also gave her the opportunity to consider what she really wanted to do. It “motivated me to pursue my passion and create something meaningful.” She and her partner wanted to “empower people during uncertain times by providing a peaceful and creative space where they could learn and share their love for sewing.”

For 18 months, they “offered workshops in temporarily rented venues until the pandemic hit in 2020.”

Although the pandemic was disruptive and forced them to halt in-person instruction, it created opportunity by pushing Moy Studio to “pivot to an online format.” Within six months, the business launched its first online course in 2020, although designing and filming it hadn’t been easy; “producing that first course was challenging due to the intricate nature of sewing.”

“That year, we reached a significant revenue milestone…proving that going online was the right move,” Reyes Maldonado says.

What the application team took away was respect for what Reyes Maldonado had been able to do following Hurricane Maria and the pandemic. Her ability to stay true to her calling reflected resilience, adaptability, and dedication to creating something meaningful, all of which WomensNet looks for in its applicants.

Clear Mission and Social Impact

The application emphasizes Moy Studio’s commitment to sustainable practices, tackling fast fashion’s environmental issues and waste. Reyes Maldonado does that by weaving in statistics that underscore the problems endemic to the fashion industry. She explains, “Fast fashion is one of the most polluting industries in the world. To make a single cotton t-shirt requires around 2,700 liters of water, enough to meet one person’s drinking needs for 2.5 years.” She then links to a source article confirming her claims.

She goes on to explain what Moy Studio does to counteract this pollution. “At Moy Studio, we aim to tackle these issues by integrating sustainable practices into traditional sewing and pattern making. We prioritize organic fabrics, zero-waste pattern making, and clothing alterations to extend garment life.”

Reyes Maldonado cites the business’s 500+ students and collaborations with nonprofits as evidence of its community-driven approach, which we appreciate. That is, there is support and market demand for her company’s services.

Well-Defined Vision and Track Record

From the outset, Reyes Maldonado says, “Our focus is on making fashion more responsible, one stitch at a time.” 

But along the way, Moy Studio has been guided by a five-year plan. It has hit important milestones and achieved success at each step, including winning third prize in EnterPRize, which confirmed the business’s potential for growth.

Mentioning other awards won and honors received drives home the point that this is a successful business and that other organizations have recognized it. That adds legitimacy to the application.

She then explains that when COVID restrictions were lifted in 2021, the business reopened its in-person workshops to “overwhelming” demand; “the workshops quickly booked up.”

The sell-out crowds let Reyes Maldonado and her partner to rent a small space in Hato Rey three months later. “While the online model is more scalable, we realized that in-person learning is irreplaceable, as people not only seek new skills but also crave human connection.” For that reason, in-person classes remain an essential part of the business.

In 2022, they began filming the company’s second online course, as part of their efforts to grow the online school. Due to demands from the business, production took 18 months. The team is currently finishing up its third course, which is a slight departure from previous sewing courses; this one is all about clothing alterations and repairs, “to extend the life of their clothes.”

The application clearly articulates the business’s shift and rationale, explaining why the decisions that were made benefited the company’s long-term potential.

Specific Use of Grant Funds

Moy Studio’s proposal for using the $10,000 and $25,000 grants is structured and purposeful. Investing in social media marketing and developing new courses aligns with the company’s strategic goal of scaling its online school to increase reach and impact.

In explaining how the $10,000 grant would be used, Reyes Maldonado focused on two main investments: 1) social media marketing on Instagram, where most of the business’s audience is, to promote the online school and 2) producing a fourth course on pattern making. 

Plans for how the year-end grant funds would be used were equally specific and directly supportive of the company’s growth plans.

Emphasis on Sustainability Education

Moy Studio’s approach to teaching mending and upcycling as practical skills is compelling, given the rising consumer interest in sustainability. The company’s curriculum aligns well with current market demands for eco-friendly fashion alternatives.

Overall, the application is thoughtfully crafted, with a strong vision and mission aligned with sustainability. It communicates both a personal and professional commitment to making a positive impact in fashion.

By expanding on long-term financial plans and quantifying the environmental impact, Moy Studio can present an even more compelling case for grant funding to advance its mission and fuel continued business growth.

Despite all you’ve accomplished, there are probably days when you’ve questioned whether you’re qualified to run your company; someone else could probably do a better job, you tell yourself. 

Imposter syndrome comes on strong. You begin to second-guess your decisions, become pessimistic about a new opportunity you’re considering pursuing, and feel anxious about your company’s long-term prospects.

Every time you allow these thoughts and feelings of self-doubt to surface, you’re costing yourself money. I’m talking real money.

You’ve just experienced the confidence tax, which is the calculated cost of declining opportunities, underpricing your services, and not pushing for all you should in negotiations, says a Psychology Today article. The authors explain, “This invisible tax on confidence erodes self-assurance, slows career progression, creates a scarcity mindset, and reinforces gender inequities in leadership and pay.”

As a woman business owner, you’re probably not even aware that you’re paying this tax. But it is time to stop it, with some specific strategies and tactics you can use to keep more of your hard-earned cash for yourself.

The Real Cost of Self-Doubt 

Self-doubt isn’t just something you experience in your head or your gut; your bank account feels it, too. The three biggest penalties you’re paying are:

Underpricing Services and Products

A FreshBooks study a few years ago reported that women entrepreneurs believe they need to price their services below other businesses in order to win the work. This strategy helps explain why male entrepreneurs outearn female entrepreneurs by 28%.

Women aren’t charging enough. They’re not charging what they’re worth.

Instead, they frequently charge less than market rates because they believe customers won’t pay more. That belief or assumption isn’t based on research, of course. In some cases, women add on free products and services to be helpful, thereby reducing their own profits.

Weak Negotiation Outcomes

Women have a tendency not to want to rock the boat for fear of having opportunities rescinded. This helps explain why 32% of women don’t attempt to negotiate their first job offer, according to Glassdoor Economic Research, when a majority of men do. So, they accept that first salary offer and end up on the lower end of the salary spectrum.

Due to self-doubt, women entrepreneurs also feel the need to over-deliver on services, to be sure their customer feels they got what they paid for. In going overboard to prove their worth, they reduce the amount their business can earn.

Missed Growth Opportunities

Lack of confidence can cause women business owners to hold back on applying for new opportunities. This can include everything from submitting business proposals, grant applications, or award nominations.

Where women are under the impression that they are unqualified if they don’t meet nearly every requirement, men are comfortable throwing their hat in the ring if they only meet 50%. Women need to stop holding themselves back.

Saying “no” to opportunities because they don’t think they’re ready or qualified prevents growth. After all, what’s the worst that can happen if you apply? You might hear a “no.”

On the other hand, hearing a “yes” could be transformative for your company. Not applying is costing you money.

Recognizing When You’re Paying the Confidence Tax 

Now that you know that you’re likely paying the Confidence Tax, here are some ways to spot when self-doubt is creeping in.

Red Flag Phrases and Thoughts:

When you hear your inner dialogue telling you things like these, you’re preventing yourself from pursuing new opportunities and charging what you should:

• “I don’t think I’m qualified yet for that.”
• “They probably won’t pay that much.”
• “I’ll start low and can raise my prices later.”
• “Maybe when I’m more qualified/have a few more years of experience.”

Try to stop those thoughts from emerging and talk back with reminders of your skills and abilities:

• “I can give it a try and see what happens.”
• “I’m worth at least that much.”
• “If they say no, I’ll just go on to the next prospect.”
• “There’s no hurt in trying.”

Behavioral Warning Signs:

Besides those conversations you have with yourself, watch for how you react to opportunities. Ways that you could be self-sabotaging include:

• Stating your fee and then immediately offering a discount or payment plan to fill the silence
• Procrastinating by over researching opportunities, often to the point that you miss an important deadline
• Constantly comparing yourself to colleagues or competitors and feeling less than
• Scheduling several follow up consultations with prospects in order to demonstrate your expertise; you can go overboard with free consulting this way

When you realize that you’re giving away too much of your time or expertise, practice scripts you can use to stop yourself from overpromising before the words leave your mouth.

Also consider creating a file of compliments you receive that you can refer back to when you’re questioning your skills. Putting those types of kudos in front of you on a bulletin board is an even better approach, for constant reminders.

And take time to check how your prices stand up. Are you at market rate, below it, or above? If you discover that you’re undercharging, push yourself to raise your rates and stick to them.

Regular self-assessments can help reframe your self-image and bolster your self-confidence. Your experience and talents have value that you deserve to be paid for.

Make that your mantra.

By charging what you’re worth, you’ll reduce that Confidence Tax and add dollars to your bank account.

Being a small business owner can feel lonely. Unless you have a support system, it can be difficult to share your challenges and fears with people who have never been responsible for running a company. They may not understand what you’re going through.

This is why having a network of mentors and peers is so important, especially for women business owners. That inner circle of advisors, confidants, and champions is key to figuring out how to be successful.

Having mentors and fellow business owners in your corner can make the difference between struggling and thriving.

However, finding such mentors and peers can be a challenge. A recent study by Truist found that 30% of women business owners struggle to find mentors and 35% find it difficult to network with fellow women business owners. Lack of access to business owners who have faced similar roadblocks and can help offer potential solutions or paths to success holds women back.

Fortunately, it is possible to build a support network of mentors and peers. It all starts with proactively seeking out true connections with people who understand where you are and where you want to head in your entrepreneurial journey and who are willing to provide guidance.

Why a Support Network Matters

In addition to offering ideas and solutions to common business problems, an inner circle of business owners offers several types of support:

• Expertise. Mentors can offer recommendations and advice based on their personal experiences. Those “been there, done that” experiences can save you time, money, and frustration.
• Accountability. One of the most useful aspects of having peers and mentors to turn to is the opportunity for reporting and accountability. Knowing that someone is going to check in to find out how much progress you made in reaching your goals and help you stay on track can be game-changing.
• Business opportunities. Well-connected mentors and peers are often the best sources of new business referrals and introductions to potential clients. Your connection with other businesspeople exponentially increases the number of people you are connected to. It can be extremely helpful for your business.
• Emotional support. Every business owner faces times that can be scary and frustrating, just as they can experience big wins worth celebrating. Having mentors and peers you can turn to when you need a shoulder to cry on or someone to share in your excitement is also valuable to your company.

Finding a Supportive Mentor

Although the role of a mentor is to provide feedback and encouragement, often by sharing their own experiences and lessons learned, there are good mentors and bad mentors. To avoid wasting time with a mentor who doesn’t help you progress as an entrepreneur, keep an eye out for someone who has these qualities and characteristics:

• Experience in your industry or type of business
• Similar values to your own
• Has the time available to stay in touch regularly
• Able to be candid without being harsh or hurtful
• Encouraging and invested in your success

There may be other types of experiences that you’ll want to look for that would make a mentor even more helpful to you and your particular type of business, but these are some basics.

Then, where can you come into contact with people — mentors or peers — who could check some of these boxes? Here are some potential places and communities:

• Business groups. These could include those specific to women business owners, such as the National Association of Women Business Owners (NAWBO) or Chief, for C-suite women leaders, for example.
• Online platforms. Places like LinkedIn and Instagram are two places to identify potential mentors and peers and become familiar with their companies. They may not be the best place to try to start a relationship, however.
• Facebook communities. Although social media is a great way to get connected with people and to watch what they’re doing, communities are where women can support each other. In addition to WomensNet, check out Women Helping Women Entrepreneurs, as well as groups specific to your type of business.
• Business incubators. Programs established to help women business owners succeed are another source of potential connections. The NASDAQ Entrepreneurial Center is one such place, as well as the Tory Burch Foundation and Y Combinator (which is not female-specific).
• SCORE. The SBA’s Service Corps of Retired Executives (SCORE) was established to help entrepreneurs overcome obstacles and troubleshoot issues that arise; there may be a local former executive who can offer guidance at no cost.

Building a Network

To be successful as a connector, or someone who surrounds themself with knowledgeable business owners, it’s important to approach your networking looking for ways you can support others and not just expecting others to give you, a stranger, their time and talents right off the bat.

Here are some tips for establishing and nurturing a strong network of supporters:

• Give before you ask for something. That could be an introduction, an idea, or a recent news article you thought would be useful to them. But give without an expectation of receiving anything in return.
• Be clear about what you need. When you get to the point of wanting to establish a relationship, communicate what you’re looking for. Do you want a mentor to give you feedback every few weeks, or to take your call when you have a question? Do you want fellow entrepreneurs to commiserate with and share successes? Are you creating your own mastermind group that you’d like them to join? Make sure you know what you want before asking.
• Stay in touch. Make connecting and reconnecting with your network a part of your daily or weekly schedule. Don’t ask for advice and then drop off the face of the earth for a few months, only to resurface later with another request for more help. That gets old fast. Make sure you’re offering as much support as you’re requesting.
• Consistently work to expand your network. Set a goal to increase your business network by a certain number of people each week or month, so that you’re actively adding to your circle of contacts on a regular basis.

The good news is that you don’t need a huge network to get value from being connected to others. You can create a small circle of your business besties, who are there when you face challenges and cheer you on when you get a big win, or you can focus on volume, steadily building your connections until you know everyone in your industry.

There’s no wrong way to network, unless you start by expecting others to help you because you asked. A much better and more memorable approach is to start sharing your expertise and resources to assist others. They’ll appreciate it and look for ways they can return the favor, even without you having asked.

Marketing is often the tool that can make or break small businesses. The more marketing you do, effectively, the more traffic you can drive to your company and the more word of mouth you can foster. Conversely, if you don’t invest in promotional activities, it’s often harder to make your audience aware that your business even exists.

Marketing is critical.

Of course, there are myriad different types of marketing you can invest in.

Some are expensive, such as advertising (a.k.a. paid media), events, telemarketing, or sponsorships. Others are inexpensive but no less effective.

Social media falls into the less expensive category, at least at the start. You can certainly pour thousands of dollars into social media campaigns, but I’d recommend building up to that — figuring out what works for your product or service on a small scale before you go all-in.

If you’re just getting started or dipping your toe in the social media waters, here are some strategies to use that won’t break the bank but that can help generate results for less money:

Focus on one platform

You’ve probably heard this before, but do not spread yourself thin trying to be on every social media platform out there. It’s hard to get noticed if you’re only posting monthly on six different platforms, for example. A better approach is to be visible daily on one platform.

Choose that one social media site based on where your target market spends its time or is most active. If your business has a visual element, such as interior design or fine art, and your target client is a woman, Pinterest or Instagram would likely be a smart choice. Similarly, if you run a tech company or your target clients are other businesses, LinkedIn is probably your best option. You can also explore Facebook, TikTok, or Threads, to name other options.

Investing your time and resources on one social media platform allows you to build traction, boost your content more quickly, and get noticed faster.

Build a community

By attracting like-minded buyers and clients to your social media account, you can start to build a tribe, a community. With that community of fans and advocates in place, you can then encourage them to help you generate content and engage with each other. They can ask questions, offer advice, and make recommendations to others in the community.

User-generated content is less expensive for you because you don’t have to create it, and it’s more credible since it comes from people who like your products and services or have done business with you. It’s more believable than your own posts, which can be viewed as advertisements.

Although creating a Facebook group is the quickest and easiest way to build an online community, you can also build a following on other platforms.

Content batch

Save yourself time and money by spending a block of time crafting multiple social media posts that you can then schedule and drip out over time. For example, you could take short videos of various clients or of your work and then share them over the next few days or weeks. Or you could write up 5-10 blog posts in one fell swoop and schedule them to be posted weekly.

Using a scheduling app like Buffer or Later helps you plan ahead and stay on top of content creation without it having to take up time every day; that can be distracting and time-consuming. 

Posting regularly helps boost your visibility because social media algorithms prefer accounts that are posting consistently. Just don’t let it run your schedule.

Shoot more video content

Right now, videos seem to be what most platforms want to see, because that’s what users prefer. So, consider doing more video recording than writing.

Fortunately, you don’t need to invest in pricey equipment or set up elaborate photo shoots. Videos that are working the best are more casual, day-in-the-life scenarios that don’t require lots of planning and set-up. Use your cell phone to record and upload it to be edited or straight to social media.

In fact, some of the most popular types of videos are behind-the-scenes looks at your business or your work process, tutorials related to the product or service you sell, or even tips and advice to help your audience do something better. It doesn’t have to be high impact or deep, but help your audience get to know you and see a snippet of your work life.

Pay attention to your data

This holds true for all types of marketing, but whenever possible, look at your analytics to learn what’s working and what’s not before you spend more time or money to potentially give your community what it’s not interested in. Look for clues as to what your audience wants more of, to keep them coming back for more and engaging longer.

Most platforms offer free analytics that track metrics like followers and engagement. You can also see what topics seem to be resonating the most with your audience, so you can give them more of that type of content.

Today, social media is where people of all ages are spending much of their time online, so take advantage of that fact and make sure your company is findable online and that what you have on social media is of interest to your target audience. It doesn’t have to cost much but social media posts can generate significant sales for your business.

Although some users are leaving Facebook, the reality is that it is still a useful platform for connecting with customers, prospects, and fans.

By setting up a free online community, you can provide a way for curious prospects to get more information, demonstrate your expertise and credibility, connect prospects with satisfied customers, and foster excitement about upcoming products or services.

Best Practices

One of the best examples of how a free Facebook group can work is the ALDI Aisle of Shame Community, which has 3.5 million members. Although not officially run by grocery store ALDI, the group brings together fans of ALDI products to talk about their experiences in the store and with products found in the limited-edition area in the center of the store — a.k.a. the “aisle of shame.”

These ALDI superfans in the community provide product reviews, photos of products in use, and share positive experiences they have had while shopping. Approximately 99% of the posts are extremely positive and frequently spur members to run out to try to find the products mentioned.

Imagine having an online community of 3.5 million members who get together to sing your praises and encourage others to buy from you. You can’t buy testimonials or positive press like that. And that’s the potential Facebook groups provide, all at no cost to you or to your members.

Getting Started

Setting up a new Facebook group takes only a couple of minutes. 

Once you’re logged into Facebook, look on the left-hand side of your feed to find the Groups tab. Click on that and then “+Create New Group.”

After you’ve named your community, you can add a description of the group and upload an image to be the cover image at the top.

Next, you’ll want to start inviting members to join. You can do that by making an announcement from your profile, from your business page, on Instagram, via LinkedIn, to your email list, your YouTube channel subscribers, and anywhere else you have a presence.

Encouraging Members to Stick Around

Once you start to get community members joining your group, you’ll want to do things to make them want to stay. 

The more they engage, participate, and enjoy the information being contributed, the more positively they’ll feel about you and your company. And the more they know, like, and trust you, the more they’ll buy from you.

Here are steps you can take to get your members involved and feeling like they’re a valued part of your community:

Welcome them. Depending on how many new members join daily, you can either welcome them one at a time by tagging them or do a group welcome every few days.

Host giveaways. Giving away freebies and prizes is still one of the most effective ways to get new members to join, but they can also encourage existing members to stay. You can schedule a regular monthly giveaway, an occasional event in partnership with other business owners, or a 15-minute Facebook Party like business coach Kimberly Olson runs, where she gives away several of her products as well as other gifts.

Sponsor a contest. Where giveaways are typically done through a random drawing, if you want to encourage your members to take a specific action, consider running a contest with prizes. For example, if you’re a fitness coach, you could have members demonstrate how many steps they walked in a week. If you’re a writer, maybe your members need to prove how many words they wrote on a particular day. Make it fun and worthwhile by offering an enticing prize. 

Hold in-person events. Even if your community is spread across the country or around the world, in-person events can still be effective at drawing local customers in. These events can be appreciation parties, networking sessions, trunk or fashion shows, or paid coaching events or conferences.

Ask questions. The most active groups generally have a daily or weekly question for members to respond to. These questions can be serious, such as, “What’s the best business advice you ever received?” or they can be personal, such as, “What is your pet’s name?” Not only do the responses help you get to know your members better, but they can spark conversations that build community connections.

Conduct polls. Use the Poll function within the group to ask for feedback, for ideas, or to generally gauge how people feel about a certain topic. Polls can help you schedule your next Facebook Live session, for example, choose the cover design of your next book, or select which new product you’ll add to your inventory.

Record Facebook Live videos. Use video to share information live with your group, such as for making an announcement or sharing some training you’ve put together that you think they’ll find valuable. Video is one of the most popular ways people consume information today, so take advantage of it.

Use rules to reinforce good behavior. You can establish rules when you set up your group outlining what you consider to be acceptable behavior. Facebook offers some standard rules you can post and ask everyone to agree to as a condition of admission into the group, but you may want to add your own, too. Some businesses, for example, do not allow members to promote their businesses. Others prohibit political discussions.

Immediately address spammers. Despite stating what your group’s rules are up front, you will frequently find spammers who want to promote their companies or share inappropriate content. You’ll want to remove those members ASAP when you come across them so as not to irritate your legitimate members.

Encourage testimonials. You don’t necessarily want to call them “testimonials,” but invite members to share their successes, especially if they’ve had a good result thanks to your business. Ask members to share their experience, or what they liked most about doing business with you.

To stay on top of what’s going on in the group and what topics are hot buttons for the community, check in daily if you can. You can also ask others to be group moderators so that you have other helpers keeping an eye on things, too.

The goal is to attract more people and encourage useful or interesting discussions. If you can do that, members of your community will naturally want to check in regularly. Over time, the group can help educate and inform prospects and customers and position you as the expert in your market.

In opposition to the current U.S. government’s efforts to dismantle diversity, equity, and inclusion programs across all sectors of the economy, grassroots efforts are springing up to express dissatisfaction with this decision. 

The first economic boycott occurred on Friday, February 28, 2025.

Consumers were asked to refrain from spending any money online or in person anywhere, with a particular prohibition toward buying from big box retailers. The goal, organizers explained, was to win the attention of governmental and corporate leaders who believe that Americans don’t care about such diversity, equity, and inclusion regulations.

Future boycotts are planned to target specific companies, to encourage those corporations to reconsider reinstating their diversity, equity, and inclusion policies and practices. Some of the biggest targets include Amazon, Walmart, and Target, which have all recently rolled back their diversity, equity, and inclusion programs.

Now, whether you are for or against such boycotts, if you run a small business, you may get unintentionally caught in the crossfire. To reduce the damage that such a no-buy movement may cause, here are some tactics to consider trying to insulate your business from the effects of shoppers cutting way back on their spending:

Broadcast that Yours is a Small Business

Numerous activists have indicated that small businesses should be exempt from any boycotts. That is, consumers should be encouraged to continue buying from small businesses and to switch their spending patterns away from corporations and toward smaller ventures.

However, in case that message gets lost, be vocal in letting your customers know that yours is a small business and that you would appreciate their continued support. You can do this through:

• Small business signage or flags on the exterior of your business
• Signage inside your business
• A note on customer receipts
• A note on your website
• A note on your social media accounts
• A note in any advertisements

If you support diversity, equity, and inclusion efforts, you may want to be vocal about that, to avoid any misunderstanding. Emphasize it.

The most important step here is communicating that your company is a small business.

Ask for Other Types of Support

If your customers opt to participate in boycotting larger businesses or to avoid spending money on those days, remind them that they can still show support for your business in several ways that won’t cost them a penny.

These include:

• Liking your shop on social media, such as Instagram, Facebook, and/or TikTok
• Writing a positive Yelp or Google review of your business
• Posting a positive LinkedIn Recommendation of you or your firm
• Commenting on your online posts to boost engagement
• Creating and sharing a post about your company on social media
• Providing a written or video testimonial that you can then share with your audience and they can share with theirs
• Encouraging their friends to shop with you

Even if your customers don’t spend their dollars during a scheduled boycott, encourage their ongoing support of your company in other ways.

Then give them an incentive to buy immediately following a boycott.

Announce a Special Promotion or Incentive

Although some customers may not be spending money during a boycott, take the opportunity to entice them to make a purchase immediately following the blackout period.

The day of or the day after a boycott, make a splash with a special offer to your customers. That could be a rare discount, a special event, or a product or service bundle that is hard to resist. 

For example, a restaurant could offer a special three-course meal for a bargain price. An accounting firm could offer a one-hour consultation to small businesses at no charge to the first 15 respondents. And a dog groomer could throw in a free nail trim with each doggy bath.

But offer it on the day of the boycott for the following day, or right after the boycott period ends.

Consider Closing During Boycotts

Granted, you can’t close up shop during every boycott, or it’s unlikely you would be profitable.

However, if you get wind that no one in your area will be shopping on a particular day, you might consider closing for the day, reducing your hours, or closing early, to reduce your labor costs when you expect no customers.

For example, if you run a bakery and have no orders on February 25th, consider closing early. Or if your nail salon has no appointments in the morning, you may want to open at noon instead of 7:00 am.

If you do that, however, you may want to remain accessible to customers online. Encourage them to get in touch with you so that you can better gauge whether it makes sense to continue closing during boycotts or if you should stay open for your customers’ convenience.

Boycotts have historically been efforts to shine a light on a particular issue or problem. At the moment, economic boycotts are being used to put pressure on corporations, but since small businesses are for-profit ventures, they can be lumped together with other for-profit companies.

Do all you can to position your company as a community asset, to reduce any fallout from consumers who are choosing not to spend money during these blackout periods.