With today's economic climate, it may feel like you and your business is helpless. But now is the best possible time to start making moves to improve your business. Let the old idiom guide you, "You're either making money, or working on how to make money." Now's the greatest time to start working on the "how."
Improve your processes and procedures
With businesses starting to reopen, it's the best time to take a good hard look at your processes and procedures. Make a list of every stage of our customer's buyer journey. Where are there places that can be automated? Are there stages that make it harder for the customer to complete a sale? What are your procedures for handling your customers after their first purchase? It's time to really look at the problems in your processes and possible ways to solve them.
Plan for diversified growth
A successful business needs to be as agile as possible with plans in place to approach a more diversified growth. Maybe there's a client your services could fit well for that you haven't tried tapping into yet. Create a list of five possible growth avenues for your company. Maybe your coffee shop offers a subscription box service. Or your repair shop does oil changes on location.
Focus on relationships over transactions
Now more than ever people want strong relationships. Focus on the people you're working with rather than worrying about the bottom line. It may seem counter-intuitive at first since the bottom line is king, but in the long run you'll see much better returns. Send your clients a care package, write them a hand written note, or give them a call just to say thanks. You don't need a big budget to be a good person.
With so many changes going on in the world lately, nothing is more important than consistency. Keep to the course you've set out. If you had in person events, try to take them online so people can still enjoy them. If you have a promise to respond to customer questions within 24 hours, keep to that promise. It's easy to make excuses and let things fall through the cracks, but if you can remain consistent through anything, your customers will notice.
Focus on a specific niche or customer group
If budgets are tight and your workforce had to be thinned, try and focus on a specific group or niche so you aren't spreading your team too thin. Take stock of who your usual clientele are and pick one or two groups to focus on that bring in a good percentage of revenue. That way you aren't trying to market to a wide range of people and can focus on providing solid services to one or two.
Doing these five things today will set your business up for success tomorrow. Take the time to work on your business today rather than in it and you'll find that your company can be more agile than ever before. Need help with the first stage? That's our specialty. Contact us for a free consultation on how to improve your processes and procedures.