Ensuring your business is running like clockwork will keep your clients and customers happy and will give you the possibility of securing new business as time goes on and retaining the business you have. It’s important to keep your business well oiled and organised, as this can lead to issues if you are not working to goals and keeping on top of work. There are ways to become much more efficient in the office and this begins with the team you lead, your systems and your ability to troubleshoot when things are not going well. So what is best to look at?
What Isn’t Working?
Before you make major changes you will need to discuss with your team, listening to their issues and worries and see what is going wrong and what can be improved upon. Do you need to upgrade your systems? Is your current database system not efficient enough and if so you can look at data entry outsourcing or other ways in which to better your business. Are your team members unhappy about the current working systems and are there issues with communication, telephone lines, email issues or is there just too much work being piled onto them. All this combined will cause problems with the workforce and getting the jobs done to schedule.
Build A Community
Build up a way to begin to implement a networking source. For example, if your brand is working with the public on a regular basis or if you operate a call centre where customers have your business the first port of call then start to realise that this is important for business. Build community, email marketing, leaflets, getting people involved with offers and having their feedback as this will ultimately help you grow as a company. Explore new avenues with marketing even if this is collaborations, joining and amalgamating with other like minded companies, to bring in new customers and reach new markets, this should be explored and also this shows that you are willing to collaborate and that you are a growing business.
Minimise travel times and costs -having your business local can have so many benefits; it can boost the local economy and in turn bring more business to you, as well as helping your workers. If they do not have to travel far, there will be less issues with traffic, coming to work late and it will be a generally better working environment. Looking at cheaper and smaller locations will also cut down the costs of any office rentals or insurance you have for your business.
So start to look at what isn’t working and fix that the best you can as you move into this exciting new decade for business. Look at your marketing, look at your costs and how to cut them down and how to look at better working systems that are efficient and easy to manage and maintain for all your staff. There is plenty to look forward to when it comes to the future of your business.
Do you want to grow your small business? Maybe you just want to learn more about the fundamentals so that you can take things to that next level. Either way, there are a few things that you can do to try and help yourself.
Build a Sales Funnel
The fastest and easiest way for you to grow your company would be to try and build your own sales funnel. If you don’t have one already then you could be making a monumental mistake. If you are willing to invest in a sales funnel, then you’ll soon find that this can help you to automate your business and it can also help you to grow and scale much easier too. Sure, you might need to put in some work at the front end but when you have all of the processes established, you’ll soon find that it is smooth sailing from that point on.
Computer Management System
Manually tracking all of your transactions can be difficult to say the least. Nobody likes to do it, and at times it can easily be cumbersome. If you do want to scale your business quickly then it helps to use a computer management system. There are so many of them out there for you to choose from but at the end of the day, you have to choose one that aligns with the way that you work.
Research the Competition
If you want to get ahead of the market then you have to make sure that you understand your competition. You need to research them properly and you also need to do everything you can to uncover their strategy. This will help you to cater your own marketing campaign so that it better meets your needs and it will also help you to really take things to that next level.
Loyalty programs remain to be the best way for you to increase sales. It costs three times more to acquire a new customer when compared to selling to one that you already have. Building a loyalty program will help you to tap into this potential and it will also help you to make your business more accessible.
IT Infrastructure
We live in a very digital world. If you want to get ahead then you need to make sure that your IT infrastructure is completely on-point. If you don’t believe that yours is then you might want to check out: https://www.singlepointglobal.com/services/managed-it/.
Identify new Opportunities
It’s so important that you analyse any new opportunities that may arise in your business. You need to understand everything from your distribution channels to your direct competitors and your demographics too. Only then will you be able to understand any changes that you need to make, and It also gives you the chance to see how you could branch out too, so it’s always worth doing. If you need to boost your efforts then consider networking more, as this will connect you with more people and it will also help you to take things to that next level.
When you are starting up and running a small business you will plough all of your efforts into getting it off the ground. It needs to have a strong start, to build up a good reputation from the outset. But what about beyond those initial weeks and months? How do you keep everything going from strength to strength? Today we are sharing with you 3 ways to ensure your business thrives, beyond that initial surge.
Whilst you will want to stay true to your business’ vision, mission and values, it does pay to be open to new ideas.
Adapting as you discover what works well and what does not makes good business sense. Look out for trends and patterns and look to understand them so that they can be replicated or expanded upon. You might find that the avenues that you were confident would work best for you as you launched are actually surpassed by other income streams so adapt and adjust to these new possibilities.
You should also regularly look around at what competitors and others are doing within your industry. They might come up with innovative ideas that you can learn from, or they might hit walls that you can see a way around.
You will also want to encourage your team to feel confident and able to approach you with any and all new ideas. They are often the first people to spot that there can be better, improved ways to do things as they are the people on the ground, so ensure that everyone has the opportunity and willingness to put new ideas out there.
Always look for new opportunities
Whether you are looking to source government contracts or drum up business within your local area, you will need to be consistently looking out for new opportunities to source your next contracts and find your next customers.
As your business evolves, so might the opportunities that you have, so do maintain contact with as many potential customers as possible. Whilst you might not be in a position to help them today, you might be one day in the future, so keep their needs and requests on record.
Search relevant databases for new contacts and attend local networking meetings regularly. Whilst new business might not present itself instantly, you can build up potential clients over the long term in this way, and develop relationships that could lead somewhere at some point.
Deliver to your customers
Whether your customers are other businesses or consumers, you need to ensure that you deliver to their standards and expectations all of the time.
Maintaining a strong relationship with your customer base should ensure that you get their repeat custom, and develop an excellent reputation leading to more customers. It is worth regularly seeking customer feedback to ensure that you are delivering and exceeding expectations and to gain valuable insights into how you might be able to improve your service to them. Customers will appreciate being asked and respect you for responding to any criticism swiftly and professionally.
Finding risk free ways to fund your side hustle (besides your own savings) would appear to be pretty much impossible. The passion you put into starting your own small business alongside your current employment seems to get stalled by a lack of choices to finance your venture and initially get it off the ground. Luckily, a bit of research and commitment will show you that there are in fact several great ways that you can pay for your side hustle that can help to increase your prospects of success and carry minimal threat to your personal financial situation. Read on to find out more!
One of the best ways that you can find funds is by seeking investment from established professionals or companies, as these people can offer you a lump sum in return for shares. This means that they are prepared to offer money to help you achieve your goals, on the condition that they receive a certain amount of your profit. If you’re confident enough to pitch your business idea and convince investors to trust in your abilities, take every chance you can get. Networking with other entrepreneurs in your industry will help you to create the right links to gain the best opportunities.
Consider Borrowing Money
If you would like to keep all profits from your business but are still outsourcing finance for your venture, borrowing money may be the best option for you. This means that you can approach a bank, who can offer a loan of some kind – a situation in which you are given the money you need, but have to pay back the entire amount plus a certain percentage of interest. These payments can be monthly, which means you have time to generate sufficient income to cover the costs you incur.
Alternative Ideas
There are a few concepts that differ from those mentioned above, which are generally considered alternative funding choices, that can really work in your favour should they suit your lifestyle. A great example is crowdfunding – in this scenario, you begin by setting up a page online detailing the purpose of your business and why you need help, and then add an option for readers to donate any amount they would like. Whether these people are family or friends, or random strangers on the internet that are inspired by your motive, there are more people than you may think that are willing to support you and aid you in succeeding with your new venture.
Hopefully this guide can give you the inspiration you need to head in the right direction towards solid funding for your side hustle. Starting a new venture with the finance you need to perform to your full capabilities will help to increase your chances of success by a mile, so be sure you seek the right kind of scenario for you. From professional investment in return for shares to accepting donations via crowdfunding, every little bit helps!
In essence, these groupings are introverts and extroverts – with a few other defining characteristics thrown in.. And it’s useful to know where you fit on this spectrum – because it really can help you succeed.
What are the true features of introverts and extroverts?
There are distinct features that define people, quite broadly, as being a bit more in one camp or another. If you’re self reflective, contained and thrive in your own company, for example, then you’re introverted. And if your energy comes from being with others, bouncing ideas around – you’re an extrovert.
So how does this affect you in business?
Well, people with both traits can really thrive in business, once they understand what they’re best at. Or might need to work on. Their strengths and weaknesses, if you like – in this particular situation.
The introvert
Self employment can be a great option for an introvert because it allows you to control your own environment.
There are lots of business opportunities that suit introverts – from blogging and web design to floristry. Anything that allows you precious time to yourself and reflects your analytical, creative mind will suit you.
What are the challenges?
A big stumbling block can appear around networking – as this doesn’t always come naturally to an introverted person. And in getting overwhelmed by the range of tasks you need to be responsible for when you start up..
What are the solutions?
Try to focus on what you do best – if networking is difficult, focus more on online marketing, perhaps. But don’t hide away from attending events or face to face meetings. Ease yourself in gently and you’ll gradually build a more rounded skill set.
Set boundaries for yourself
It’s really important to have regular quiet time to reflect – if you’re an introvert – to get inspired and recharge your batteries. So set boundaries, take regular breaks and dont be afraid to ask for help.and advice..
Find like minded people
Try to build a supportive community you connect with around you – become a member of a social network like https://www.seebiz.com for example.
The extrovert
You don’t tend to be a shrinking violet about self promotion or networking, do you – if you’re honest? But spending time alone is where you can come really unstuck – if you’re not careful.
That’s because extroverts tend to find it easier to solve problems, get energised and tap into ideas in a group setting. And you love interaction.
So consider opportunities that will bring you into contact with lots of people. Business coaching, running a shop, bar or cafe – even perhaps a salesperson or speaker.
And, if your work is by nature more isolating, try to maximise client sessions, skype meetings and other interactions. Or try co-working.
In conclusion
We hope you’ve found this post useful, if you’re unsure whether going into business is the right option for you. We think, whatever personality type you are, there are great reasons to become your own boss.
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