There is a misconception in the business world that needs to be addressed. Some people falsely believe that when a business has established a solid audience and returning customers, it is best equipped for growth. In reality, performance and growth are not interchangeable terms. Contrary to the natural expectation that a performing business is ready to expand, you might be surprised to perform positively with a reliable pool of customers without being in a position to attract new buyers. Building a loyal audience from a limited number of customers is no guarantee for future success. Ultimately, growth is defined by your ability as an entrepreneur to appeal to a diverse audience and encourage effective team building. What’s stopping your growth?
Improve Your Recruiting Strategy
Let’s be honest. You can’t grow your business without growing your team. But recruiting new team members can be time-demanding. What’s stopping you from finding your new star employee? One of the main obstacles for companies to appeal to potential employees is the definition of the job role. Indeed, extending your team means that you are likely to be looking to create new positions, which can be difficult to describe accurately. Are you looking for skills you don’t really need? Could it be that you are not publishing the job specs in the right places? LinkedIn is great for high-level professional roles, but what about entry levels roles? Finally, the job description itself could be a problem. A lot of modern employees demand specific perks. Friday beers may not be appealing enough for someone who prefers remote working options, for instance. In other words, if you can’t grow your team, the first step you need to take is to question your recruiting strategy.
Implement Teamwork Environment
What if you’ve got the best possible team you could dream of, but things still don’t work? A lot of office-based companies struggle with the meeting culture. Indeed, American businesses waste around $37 billion a year in meeting time. As the economist John Kenneth Galbraith sums up, ‘meetings are indispensable when you don’t want to do anything.’ So, it’s fair to evaluate how much time your team is wasting in unproductive meetings. You can significantly improve teamwork and team communication by establishing an activity-based workplace decor so that people who need to work together sit together. This habit can reduce the need for meetings and improve productivity and team efficiency.
Customer Relations Management (CRM)
Do you keep track of all interactions with your customers? Small and medium-size companies can struggle to keep their CRM data up-to-date, especially when customers can engage with various teams – social media, customer services, technical fault, reception, etc. That’s precisely why there are more and more 360° view solutions, such as Medical Director for the healthcare sector, to streamline all interactions and ensure that each customer receives the best possible service in no time. Ultimately, a software solution that can keep operational, customer and management data in the same place saves you both time and money in processes.
Improve Your Technology
For small local-based businesses that are embracing the potential of having an online presence to attract a broader audience, you need to be aware that modern customers are tech-savvy. If your local audience doesn’t mind popping to the shop for their purchases, it’s fair to say that national and international buyers want a website that can deliver. Unfortunately, the digital revolution has created a generation of impatient buyers. If a website needs more than 2 seconds to load, you can expect a high bounce rate. In fact, 79% of shoppers who experience troubles with a website don’t come back. In other words, it could be that the only factor between you and your digital growth is your page speed.
Engaging With Your Audience
You can’t build an online presence without social media platforms. However, the simple fact of creating a social media profile for your company and posting links to your latest products is no guarantee of success. Social media is about engaging your audience, which is one of the biggest challenges as a business. Delivering consistent and high-quality content can be tricky, but you can’t afford to ignore the needs of your digital audience. Engaging brands are perceived as trustworthy. They create a relationship with potential buyers. When your social media posts are not appealing, nobody reads them. What is the point of creating dull content?
Sale figures and growth are often connected, but one doesn’t always lead to the other. It’s vital to identify the key areas you need to address to create room for growth in your company!
Be sure to hop into the Savvy Entrepreneur Private Facebook Community to collaborate, learn and grow with your fellow entrepreneurs and business owners.
Similar Posts by Savvy Entrepreneur:
10 Income Reports by Entrepreneurs for Entrepreneurs
https://savvyentrepreneur.co/10-income-reports-by-entrepreneurs-for-entrepreneurs/
Get More Customers Using Your Website, Email Marketing, and Social Media
https://savvyentrepreneur.co/get-more-customers-using-website-email-marketing-social-media/
Mastermind Groups for Entrepreneurs Foster Accountability
https://savvyentrepreneur.co/mastermind-groups-for-entrepreneurs-foster-accountability/
This is a Collaborative Post
