The key to business success is not a shrouded in mystery, nor is it the world’s best kept secret. Success will come to you, if you work for it.
The only way to be successful is to have a product or service that people want, and to work smart, as well as hard. To begin, you need to have a strategic and comprehensive business plan in place - know where you are, where you’re going, and where you want to be. Here we discuss different ways you can increase the success of your business and reach your goals…
If you’re not relevant, you’ll alienate your target audience and attract those who are unlikely to buy in to your business. Utilise the relationships you have already, along with software and tools that can help increase your influence within your industry. Engage with existing customers and partners, along with relevant industry websites, blogs and influencers online in order to ensure your business is up to date with all of the latest trends.
Just as Matt Mayberry stated on Entrepreneur.com, “No matter what category your business happens to fall in, one thing is necessary in order for you to provide your customers extreme value: to make the commitment to continuously learn and study what's “hot” in your field.”
Track the results of your efforts to identify what is successful, as knowing what works is just as relevant as the product or service you provide. As they say, “you can’t manage what you can’t measure”. In order to measure it is first important to set objectives. It is important objectives set are SMART – this means they are Specific, Measureable, Achievable, Relevant and Time-bound. By outlining your goals not only can you see if the desired outcome was achieved, it also makes it easier to decide on the appropriate strategy and actions. It’s important to check progress regularly against your objectives to ensure you stay on track, and if something isn’t delivering on expectations you can change tactics.
Once you have the right data, you can anticipate what customers and prospects want, enabling you to adapt your business processes to target their needs and exceed their expectations. Therefore, it is imperative that you have the ability to implement relevant changes quickly and efficiently, which requires you to have an agile business model. An agile business is a productive business.
While making changes to the way you do business it’s imperative you maintain productivity levels, as it is easy to take your eye off the ball, which can result in reduced output. To avoid this, there are a variety of things you can do to maintain (or even increase) productivity - something we have covered in a recent blog post.
An enabler of productivity that should not be over looked is business technology. Many business shy away from utilising technology due to the level of investment required. However, business systems should be viewed as an investment rather than a cost. The right tools can increase productivity significantly, allowing you to focus on your core business.
We recently created an infographic that stated, 66% of UK consumers believe customer service has either stayed the same or deteriorated in the last three years. Be memorable for the right reasons, place your efforts on talking to and learning from your customers to improve their experience, aim to delight your customers. This year businesses should focus on relationships rather than transactions, as the cost of retaining business is much less than attracting new business.
Your employees are the face of your business, so be sure to hire the right employees, make sure they’re qualified and personable. Ensure your employees present themselves in a way that your customers and prospects will not forget. Secondary to this, it is important to have processes to underpin service delivery, this will ensure good service is repeatable...
While you work on being relevant, smart, productive and memorable, it’s important that all of your efforts and activity is consistent. As Blake Finger, Marketing Communications Manager at Leno Communications Corporation said, “A company that is consistently performing their services or producing their product at a high level will succeed.”
Have you got any tips that are not mentioned above to increase the success of a business? Tweet us @XperienceGroup