As a company owner, you, of course, want your business to succeed and get ahead, but this can be difficult in such a competitive market. There are so many things to consider, and so many details that need to be right- any of the following things could be letting you down (even to the point where they cause your business to fail!) For this reason, make sure you’re not overlooking these essential elements.
You Don’t Have an App
Research has shown that more sales are now made on mobiles and tablets than laptops and computers, and as a business owner this is something you can’t afford to ignore. People like shopping on their phone, and let’s be honest, most of us are glued to our devices most of the time. For this reason, having a responsive and interesting smartphone app created is one of the best investments you can make for your company. The world’s largest companies got on board with this long ago, but it’s not something you should disregard for your own medium sized or smaller business. In fact, it gives you a chance right now to get ahead of your competition. In the not too distant future, having an app will be as essential to business as a website is now. In the meantime you have chance to get ahead. It’s a way to get right into the pocket of your customer which is a powerful place to be. That way you’re only ever a click or two away. While your website should be optimised for smartphones browsers, go a step further and get an app created.
You’re Using Outdated, Manual Methods
If you’re still using old methods for things like accounting, scheduling rotas and drawing up legal contracts- you are wasting both time and money. These are things that a computer can do in seconds, you don’t need to pay an employee for their time here and can instead put them to work elsewhere. There’s business software for just about any area of a company these days, so do some research and find out what’s out there and what will suit you. It will save you time, hassle and money and can hugely boost productivity.
Your Marketing Strategy Doesn’t Work
It doesn’t matter what your product is and who you sell it to, every business needs the right marketing methods to get their name out there. Your potential customers need to know who you are and what you do, to allow you to make sales and generate profits. With marketing, it’s not one size fits all. If you’re a local business, things like flyers, posters, even using fleet and transit graphics design services can be useful. That’s because you’re targeting your concentrated local area. If you ship globally and sell online then these methods will be no good. Instead, using things like Google adsense, blog advertising, social media marketing and other far-reaching online strategies are your best bet. Have a look at your marketing again and make sure you’re putting money into the right places. Speak to a professional marketing company if you’re not an expert in the area yourself.
Not Listening to Customer Feedback
Negative feedback can be frustrating as a business owner, not to mention damaging if there’s too much of it. However it can also be a chance to learn, grow and adapt. If someone has complained, it means your company has not given them total satisfaction. Providing they’re not simply out to defame you, listen and take note of what has been said. Did you provide a poor quality product? If so, maybe you need to switch manufacturers or change the materials you use. Was the wrong item shipped or did it arrived damaged? Your warehouse staff may need some additional training. Was shipping slow? You may need to swap delivery companies. These are all productive things that can be done based on negative feedback, so don’t let it get to you. Instead, use it as a way to improve so you can do better next time.
When profits take a nosedive, it can be a worrying time for any business owner. But it could be a case of a few small tweaks being all that’s needed. Have a think and work out if anything has changed recently that could be contributing. Speak to your staff, make sure there’s nothing you’re overlooking or haven’t been told about. With a bit of luck, things will pick back up again and you’ll be out of the woods.
