You can leave the competition in the dust with a good strategy!
This then allows you to expand your business. The keys to growing your business are to always keep your customers happy, and to add value to your product offerings and services. To begin, implement the following points:
Spend time outside the company, look at what you’re doing right, and where you can improve. Perform a SWOT analysis (strengths, weaknesses, opportunities and threats) to find new ideas and methods to move your company forward.
Accept the opinions of other people involved in your business. While it is important that entrepreneurs and managers make their own decisions and actions, it is just as important to have the opinions and ideas of others, both internally and externally. You can get valuable information after talking to the production people that are constantly involved in your business. Your employees and suppliers can be a great source of ideas and contacts, so make sure you take into account their contributions.
As an entrepreneur, you need a support system to share and discuss new business opportunities or potential problems. It is important that you find and develop a relationship with a business mentor to accompany you during the ups and downs that come with owning a business. Of course, it’s not easy to find time to meet with a mentor in the endless cycle of urgency in your business. But for help, you have to commit your own time and energy to meet with your mentor. Think of it like exercise, in the end you’ll be glad about the decision and will feel energised when you finish.
One of the biggest challenges of the leaders in a business is to build a high performance team. Successful businesses have strong processes of selection interviews to hire staff to ensure only the right people. People have a load of initial cost, and it takes time to develop before they are really productive. To compose a winning team, you must integrate your team members, creating synergy and getting the best of each, in order to overcome the desired results. As the owner of your business you need to think carefully about the type of person you want to attract to your business and establish a recruitment strategy.
Consumers are getting smarter today. Mostly driven by the web, buying habits have changed in recent years. E-commerce ensures customers are well informed and this makes them more demanding. It is essential to understand how the virtual world impacts your business and it serves advantage. It is essential that you monitor how your customers arrive to ensure that you meet your needs.
All products have a life cycle and know when you need to renew your product. Not all companies diversify their product offerings significantly, but those who keep their products a specialised focus, keep your business updated, constantly developing and evolving. To diversify supply and add new product lines and services must invest in market research. Discusses what opportunities are available in the market and how you can excel against the competition.
The business is about people and relationships with customers. As old values such as trust, loyalty and transparency are appreciated more than ever before. People like to deal with people. One of the most important characteristics of a successful business is honesty. If you say you will do something, you must comply. Sometimes you must also say “no” but if you have valid reasons people will understand.
8. Social Media
To attract and engage the fans and followers of social media (and always consider converting them into customers) you have to have an effective plan. These are some basic steps to follow for your company on social networks.
Adapt the content to each platform
Certain types of content generally perform better than others in certain social platforms. For example, Facebook, Pinterest, Google+ and Instagram are substantially visual, so striking images of your products, company events and perhaps “snapshots behind the scenes” of employees in the workplace can be effective options for those specific platforms. Text-only updates in the “status” section on Facebook without bonds or links also works, especially when questions are asked.
On Twitter you have to find the balance to send tweets about your business and do retweet others, including messages from your partners and industry influencers. LinkedIn is popular to share company news, tips and articles productivity leadership.
It is advisable to shuffle a diverse mix of content types (photos, featured clips, tips, links and questions of interest, etc.) through your social platforms to keep things fresh. You will see that when you do, your fans will come back for more.