It’s a problem that many businesses face – after an initial period of growth, day-to-day contact with clients, and new leads coming in all the time, things begin to slow down. Now while some businesses are content with being a certain size and maintaining that scale, most others want to continue growing. So, we’ve compiled some of our top tips for driving continual business growth.
Now, everyone knows the value of setting goals, whether they be short or long term. Even more important than these goals is the process by which we review them – after all, what’s the point in setting targets if we don’t keep track of them and analyse them? Here are a few questions to ask at your next review meeting:
Did we meet those targets?
Why didn’t we achieve that?
What do we need to do to keep developing?
Are we being realistic?
Make it your Business
With the growth of your business slowing down, it stands to reason that your competitors are either feeling the strain as well (which could be due to market factors) or they’re doing better than you. Either way, any knowledge you can gain from market factors or your competitors will help you make better informed decisions for your business – and help with the target review process mentioned above. Take what others are doing, and do it better!
Talk, but Listen More
Your client base are ultimately the reason your business is where it is today – so, talk to them, find out where you’re going wrong, but above all else, listen to their feedback (find out about our Slack community here). Looking after your current clients by constantly delivering not only increases your reputation with them, but within their networks too. Many motivational speakers and businessmen claim that “your network is your net worth”, but if you keep your network happy, it is merely the basis for your net worth. Your net worth can also be the extended network that comes from client referrals and having a great reputation.
Look After Your Workforce
Just as important as listening to your clients, is being aware of the needs of your workers. Did your team drive the initial growth that you’re now lacking? Did you properly reward them for this? Would you want to work for you? A satisfied, happy workforce is invaluable to you in driving growth of your business – again, they add to your net worth, and are ambassadors for your business, even on the weekends! Keep your team happy!
How can you expect your business to develop if you still offer exactly the same products and services as you did on day one? If you want to continually attract your client base, let alone work on growing it, you need to constantly add to your products and services. Your clients want to know that you care even after you’ve made a sale, so constant development goes hand in hand with great customer service. The way we do this at Simplifyd is through the continued development of our small business management platform, and by introducing new features and updates at no extra cost to our clients. We feel that by helping our clients sustain their business growth, in turn we will sustain ours.