We have experienced a lot during 2020, both as business owners and on a personal level. It’s been a unique year for the economy, health, and business development. Some of the changes you have made to stay in business may have been inconvenient, but you made them, and you are still here.
Now it’s time to grow!
However, as we examine the new business atmosphere, it can be challenging to understand where to start – and how to support growth in these strange times. Below are several strategies for creating and sustaining growth through this last portion of 2020 – and as you carry on through next year.
How to Support Growth
At Business Success Consulting Group, we always begin by establishing a firm foundation from which to grow. As you examine your existing foundation, pay particular attention to the following:
Creating effective processes and systems
Providing a consistently excellent customer experience is vital to business growth. The most efficient way to do this is by building processes and systems that employees can utilize in every department.
Effective processes and systems affect every part of your company. You may already have a sales process or systems for production, but what about accounting or quality control? Even human resources and company management can utilize processes and procedures to create consistency within the business – and to foster the company culture.
Examine existing systems and processes, and establish new ones to create a firm foundation for growth.
Review and modify company policies to fit with our current times
As your company moves forward with remote work, curbside pick up, or workspace renovations, things look and operate differently within your business right now. Take a look at your company policies to see what needs to change, what doesn’t make sense anymore, and what should remain the same. Not only will these revised policies help your employees understand business expectations, but they will also create a firm foundation as your company moves forward.
Provide employee training
Training employees is now more vital than ever, as the business climate continues to evolve. Your business doesn’t necessarily have to create its own training program in the short term, but you do need to support your employees’ continuing education.
For example, many employees are utilizing new systems right now – and many of these systems are now part of your company’s daily function. But most technology has multiple uses – and most end users don’t utilize all of the functionality for which they are paying. The best way to avoid this trap is to get your employees trained on the systems your business is utilizing. Most systems even supply free training – you just need to provide the time for your employees to use the technology to its fullest extent.
Review and improve remote work processes
If your staff did not work from home previously, your company likely established rapid-fire work-from-home processes and systems back in March. Many of these processes may not have significantly changed or been reviewed since then. If you are ready to focus on growth, then it is time to review these processes and update them to increase efficiency.
We recently wrote about establishing a firm foundation to support business growth during these changing times. If you would like to learn more, be sure to read this article.
How to Create Growth
Now that your company has created a support system, it’s time to focus on growth. Even as times are changing, your company can and should grow. Here are five strategies for creating business growth, no matter the economy.
1. Review and modify your marketing strategy
Getting the word out about your products and services is a necessary action to create growth. As the world around us changes, your products and services are likely useful in new ways.
For example, in real estate, a home’s third bedroom would be more likely to sell the house than a home office. However, as more people work from home, it could be that featuring a home office could get a home sold more rapidly than expected.
In another example, a product that was previously marketed to just about anyone may need to have more focussed targeting to ensure a more effective ad spend.
2. Increase your marketing and advertising
Once your strategy has been established and updated, it’s time to increase your marketing and advertising actions. Get the word out about your company on any channel which connects to your target market. Partner with complementary businesses, create that podcast you’ve been considering, purchase new ads on social media, or contribute to a business blog.
3. Reach out to existing and past customers
Word of mouth is the best way to sell any product. However, many of your clients may have been thinking about other priorities in the past months. Now is the time to remind them of how your company can help them or has helped them in the past.
4. Provide the best service you possibly can
Continue to create excellent word of mouth with fantastic service. This particular “to-do” goes back to the foundational aspect of this article. Work within your company to prioritize excellent service and product development so that customers will share the news about your business far and wide.
5. Find ways to increase efficiency
At the end of the day, your company must be efficient as your staff creates and delivers products and services. The many changes that businesses have made in 2020 have often reduced efficiency. However, even if your entire team is working remotely, efficient service is entirely possible.
Review existing operations and find where things can become more efficient. Discover technology and automations that can improve efficient work. Talk with your employees to find out what they need to help create a better work experience.
Now is the time for business growth. If you are ready to end 2020 on a high note, contact us today. The team at Business Success Consulting Group is here for you.