If you’re looking to increase market share, or turn around a stagnant business, then introducing new products or services could be the answer. But there are a number of factors to consider beforehand to ensure your best chance at success. Attract new custom From your experience and knowledge of your business sector, as well as…
Optimise Processes Get the right tasks, to the right people, at the right time. Sync specific jobs with people, who are both available and have the necessary skills. Improve your productivity, by improving your workflows. Cut any unneeded steps, and run processes simultaneously, to reduce the time taken to complete tasks. With workflow management software…
The essential foundation of good customer service is a thorough understanding of who your customers are, and what it is they want from you. What’s the most effective way of achieving this, and seeing concrete results? Understanding customers Collecting relevant, accurate information about your existing customers is the first step. Looking at the goods and…
Complying with regulations imposed on your business can be expensive and time-consuming, often threatening future growth and profitability. The law may require you to gather and track data, compile reports, or even change your business structure and practices entirely. Compliance is an industry in itself, with consultants and lawyers providing advice and counsel for business…
Operating with high overheads is one of the major impediments to growth facing small and medium-sized businesses. Regardless of productivity or profitability, a certain proportion of your revenue will automatically be given over to rent, utilities, administration and taxes. Even if you are able to optimise your business processes to provide better services at a…
Managing risk should be a priority for any company, regardless of size or industry sector. Most business owners and managers are aware of some of the potential threats to their productivity and revenue, but have not yet put a coherent structure in place for dealing with them. Risks need to be identified, evaluated and prioritised…
Pinpointing the exact steps your business needs to take to stay competitive can seem overwhelming. The last thing you want to do is put finite time and resources into activities that don’t lead to results. How can you ensure the policies set in place to keep up in a challenging market really work? Research As…
For a small or medium-sized business, gaining a large client that consistently makes orders and pays on time would seem like an obvious blessing. Being able to rely on a steady flow of work is reassuring, but there are also major downsides if one or two clients make up the majority of your revenue. The…
One method of achieving business growth is expanding your geographic reach. If your immediate market is saturated and new clients are thin on the ground, looking further afield might be the only option. Traditionally, this has meant opening new premises and the overheads that go along with that or trying to manage staff from afar,…
Drawing up a workflow to map out and organise your business processes may seem straightforward, but underestimating the level of accuracy and detail required could cause major problems after implementation. Carefully consider the following factors if you want to see positive productivity results and avoid headaches further down the line. It’s important to remember that…