Owning your own business can be stressful. There are so many different areas that need your focus; it can be easy for one or a few of those areas to slip below the performance line. The good news is that these areas of your business can be fixed, with a few quick and simple tweaks. If you need to make a few foundational fixes to revitalize your business, then consider these simple tips to help you along the way.
Gone are the days of having to do every process in your business manually, and thank god for that. Making the change to automated systems and processes can have a huge impact on your overall performance. For example, stop trying to track every individual transaction in your business and instead utilize online accounting. These types of software mean you no longer have to track suppliers work with paper systems. An electronic database and software system can remove the wasted time creating, sorting, and storing paper invoices. Not only will this help give you time back to focus on other areas of your business, but the reporting and auditing of supplier invoices become much more efficient.
There is a reason that this management concept has swept the world; it works. One of the fundamental fixes any business can make is taking a step back and reviewing processes and procedures for waste. Lean methodology is very simple, so just review your processes and actions for any wasted effort or unproductive time. Not only is this a great way to reshape your business, but it also facilitates a culture of sharing and collaboration that may not have been there before. Lean will help optimize your business to ensure that each minute or step in a process is contributing value.
Voice of the customer
This may seem like a very obvious and simple process that should or may already exist in your business. To truly benefit and see the real value; however, you need to formalize how you capture the voice of the customer. Comment cards or using social media are good interim measures, but to truly revitalize your business, consider implementing a data capture system. Whether it is customer satisfaction surveys, net promoter score, or even customer effort scores, formalizing the process of capturing customer feedback can change your business for the better. These types of systems allow you to focus your effort where it is truly important to your customer, not just what you think is crucial.
Customers are always demanding more, whether it is better products or services or simply just knowing their expectations. One of the simplest ways to revitalize your business is changing the way you help your customers. Most businesses focus on the sell or asking their customers to do something. Instead, try helping your customer without the sell or the ask. Create content that serves to educate customers in your business’ expertise, help them understand the market or guide them on the best choice for their needs. Personalization like this is what customers are calling for. Most people have heard the saying “customers don’t know what they want,” but this is just a lazy strategy. Instead of going for the hard sell, help them decide by presenting relevant content on the options to satisfy their needs.
Revitalizing your business is something all businesses should consider looking into regularly. As markets and customer trends continue to change, it is important that your business keeps up. Whether it is looking for ways to automate processes or new ways to capture customer feedback, making some foundational fixes could help transform your business for the better.