Your business might be doing just fine, mostly due to those loyal clients you acquired a few years (or even decades) ago. But if things are feeling stagnant and there’s a general sense of frustration at the lack of growth in recent times, then your company might simply be stuck in the 1990s in terms of technology, skills and work practices. So what can you do to bring things up to speed and put yourself back on the path to prosperity?
Invest in the right technology
Technology, and particularly mobile devices and the internet, are now evolving so rapidly that it’s getting hard to ignore the impact it has on how we do business. It goes without saying that every company should have a website, but is yours truly effective? Does it bring new clients and leads? As a minimum, it should have a clean and modern design, be mobile device compatible and visible to search queries. If this sounds daunting, there are many online marketing companies that can assist with these. Be sure to list your business in online directories such as Google Places for Business, which has replaced the Yellow Pages as the spot many customers go when they want to buy local.People are your best resource!
Reassess your workforce
This doesn’t mean letting everybody go, as you probably have staff whose skills and experience would be missed. But you should be conducting a skills assessment at least every two years, so you know which parts of the business provide the most value. People are your best resource so it pays to invest in professional development programs and training. Also, outsourcing simpler roles such as personal assistants and couriers to an external specialist can deliver big savings and help to keep you focused on the big picture.
Do you need better customers?
If you’ve been a service provider for a few years with in-demand skills, it might be time to hike up your fees so you can attract and better serve higher-quality clients. Getting your digital marketing in order can help you achieve this and it comes with the benefit of highly targeted marketing campaigns.
Things have come a long way since businesses needed little more than a fax machine, a landline, and a volunteer for a pamphlet run. As labour becomes more globalised and digital reshapes our lives, we must get with the times or get left behind.