Minimalism is one of today’s most popular lifestyle trends. It seems like everybody has a capsule wardrobe and is constantly decluttering their homes.
But did you know that minimalism can also be applied to your business to streamline your processes and save you time and money? Practicing minimalism in your business is all about reducing distractions and focusing on the things that really matter and impact your bottom line.
It also involves making intentional decisions that align with your goals and lifestyle. Instead of saying yes to every opportunity that comes their way, minimalist business owners only take on projects that get them excited and match their vision for their company.
Here are a few ways you can implement minimalism in your business to have more success and less stress.
How to Run a More Minimalist Business
Focus on a Few Marketing Strategies
Many business owners feel pressure to be on all the social media sites and try out every marketing strategy. These days it can seem like you’ll fall behind if you don’t have a business presence on every major app, a company newsletter, frequent digital ad campaigns, and more.
But it’s unrealistic for a solopreneur to do the work of a whole marketing department by themselves. Splitting your time and energy between all of these platforms means your content quality suffers. You can also lose sight of where your ideal customer actually spends their time.
It’s unlikely that your dream client uses both Facebook, a site that appeals to older users, and TikTok, which is dominated by Gen Z. Find out which platforms are best for reaching your ideal customer and stick with those instead of trying to update all of them regularly.
Cut Back Expenses
There’s a popular adage that you have to spend money to make money. While investing in your business is essential, you may not need all the tools, software, and gadgets you think you do.
When I was considering starting a wedding photography business with my partner, I researched the tools and equipment we’d need. I thought it was essential to have a new camera with the latest technology to take high-quality photos.
But many wedding photographers I came across online said they used models that were more than a few years old without issue. When it was finally time to update their kit, many bought pre-owned cameras and lenses instead of new ones, which surprised me.
Sometimes it’s necessary to splurge and get the latest and greatest model. But your customers may not notice if you economize and spend less, enabling you to keep more profit in your pocket.
Best-selling author Paul Jarvis recommends that you experiment to see which business expenses you may be able to cut back on without hurting your bottom line. If spending less on marketing or SEO tools doesn’t work out, you can always revert to the ways things were.
Streamline Your Offerings
More isn’t always better, especially when it comes to offerings. You may think that adding more products and services to your lineup will help attract customers and increase revenue, but it could do the opposite.
A study by Harvard Business Review showed that creating something called decision simplicity is key to building a loyal customer base. Consumers are 86% more likely to buy from a brand that makes the purchase decision journey easy.
One way to do this is to streamline your offerings. Instead of giving customers a wide variety of choices, aim to provide just a few superior products and services and communicate their value. Instead of investing in expanding your product line, it may be better to improve your existing lineup and the way you market it.
Our culture prizes growth and productivity. But you don’t have to scale your operation unless you want to. Not every business needs to be a mega-corp.
As a freelance writer, I’ve felt pressure to turn my solo business into an agency. But I realized I’d be happier as an individual freelancer because I don’t enjoy managing people.
Writing is my passion, and I want to do that day in and day out. I don’t want to be an editor or lose control over the writing process, which gives me the most joy.
Even though I won’t be able to grow my revenue as much on my own, I don’t want to sacrifice my happiness to be more traditionally successful. If you feel the same way, know that it’s ok to turn down opportunities that aren’t a fit for you and only grow in the directions and ways you want to.
Minimalism is a practical philosophy that can help you make more intentional decisions, attract more customers, and reduce waste in your business. Do you plan to implement it in your company? Let us know in the comments section below.
Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.