If you would like to make 2019 your best year yet in business, it is important that you make manageable changes that deliver real results. There are plenty of ways you can reduce your workflow and improve your business every day, including productivity tools, employee training, and making use of big data. If you would like to create a competitive advantage, you will also have to provide more value than other companies out there. If you are looking for new ways to improve your business in 2019, check out the below fifteen ways and implement them in the new year.
1. Create Capacity
One of the things business owners get wrong is that they try to get more business without creating extra capacity. This will, unfortunately, not work. The reason is that you need to free up or create capacity, so you don’t neglect your existing clients and can impress new ones. You will have to either take on new people or train them to do their jobs more effectively. Growing your business requires careful planning, or you will end up being restricted in your development.
2. Automate Your Marketing
One of the ways of freeing up time to focus on your 2019 strategy is getting rid of the small tasks that take up too much of your time and resources. If you are still posting ads and updates on social media manually, you will have to make a change. Instead of outsourcing the process and allowing a marketing company to guess what your clients want to hear and what you want to tell them about your business, you might as well get a custom sales funnel developed that will help you
3. Improve Your Reputation
If you would like to get more conversions in your business and gain new clients in the new year without having to spend too much on sales and marketing, you might as well focus on building trust and maintaining your brand’s reputation. You will have to gather testimonials from existing clients and let your target customers know about the benefits of your products and services backed up by case studies. You will have to monitor your reputation, so you can maintain your relationship with your stakeholders and get more return on your marketing.
4. Add Productivity Tools
If you would like to become a better business owner, it might be time to think about how you can make your employees’ lives easier. You will have to ask those who are actually doing the job how they could be more effective at what they do, and how you can help them become a more valuable asset for your organisation. From calendars to collaboration tools and ways of sharing knowledge, there are several ways you can implement productivity tools in your workflow.
5. Measure Everything
Some people say that measurement is the key to every development. If you would like to improve your workflow and get better results and productivity, you will have to start with measuring the different processes and identifying the bottlenecks in your business. Chances are that there is one person, department or process, maybe an outdated technology or tool, that is holding back the rest of the business areas. You will have to find out what your weakest link is, so you can address the issues.
6. Implement Lean Principles
If you haven’t heard about Lean as a business productivity principle yet, it might be time to update your knowledge. This approach focuses on eliminating waste and risk, no matter if it is related to materials, resources, people, or the environment. You will have to create a culture of knowledge sharing and collaboration, and make addressing risks and problems everyone’s responsibility. Identifying problems before they can escalate will be a huge part of your business change, Talk to due diligence UK to get a compliance review and get a list of areas you should focus on in the new year.
7. Get To Know Your Customers
To improve the product or service you are offering for your market, it is important that you get to know your customers. From questionnaires and surveys to market research, there are plenty of free and cost-effective tools at your disposal, if you figure out what your market is looking for, and find out more about the main problems you can address through your products or services, you are going to be able to improve your strategy and develop the right offers that suit the needs of your customers.
8. Find Your USP
We are all guilty of trying different things without giving our business a chance to stand out from the crowd. If you haven’t sat down yet to find out what your unique selling proposition is, you should get this out of the way before the new year. This will help you get more clarity in your strategy development and help you craft better brand messages and marketing campaigns. Chances are that your mission and values have changed since you started your business, so it might be a good idea to sit down and ask yourself what makes your brand and offers unique.
9. Grow Your Organizational Knowledge
You don’t really have to take on new people to grow your organizational knowledge. If you create a knowledge- sharing culture in your company, you will not only improve the collaboration but also empower people to do their jobs better and more efficiently. From providing training to creating meetings between different teams and specialists in your business, there are so many ways you can grow your talent pool without taking on new people.
10. Simplify Processes
Many business owners are guilty of overcomplicating their processes. If you have to outsource your projects or pass on the knowledge, some of the details might be missed out, resulting in quality issues. This is why you should always look for ways of simplifying the processes and automating measurement and various quality checks. From reducing the turnaround time to improving your sales cycle, you will find plenty of benefits in this approach.
11. Reduce Regular Expenses
Sometimes we need to free up resources in our business to invest in things that will take it further. Smart business owners will take the time off during the end of the year to look through their expenses and find ways of reducing them. Whether it is business insurance, premises, material costs, or services you are looking to change, create a list and work through it. Think about how much value you are getting out of the software you are using, the people you pay monthly, and the marketing campaigns you subscribe to.
12. Find Business Partners
Sometimes a second or third pair of eyes is good for your business. Even if you are only looking for collaboration opportunities and teaming up with companies that offer complimentary services, you can increase your reach and results, as well as your business insights. Whether you need partners for research or product development, you will get the unique view of people looking at your business from a different angle.
13. Monitor Customer Satisfaction
If you would like to improve the value of each customer, you will also have to focus more on the retention rates in the new year. From sending out surveys to asking your main customers how you can improve your products or services to suit their needs better, you can try various methods. Many companies have gone out of business because they disengaged with their clients and target market, and failed to recognise the customer trends that impacted their strategy and industry.
14. Ask for Referrals
One of the best ways of maximising the value of your business without having to spend more on marketing is turning your current customers into raving fans. Please them, offer more value than they expect. Under-promise and over-deliver, and ask for those referrals. You will need to create a social proof, and your current customers can help you. Gather testimonials, ask for public feedback, shares, likes on social media, and you will make them feel special and important. People who are happy with your service or product are less likely to talk about their experience without a prompt than those who are not satisfied.
15. Add More Value to Increase Profits
To improve your business in 2019, it is crucial that you find a way to either reduce your prices or increase the value you are offering to your clients. With the rising cost of running a business and the increasing cost of human resources, for many businesses, the only option is to add more value and increase the price. Think about a complimentary service that will not cost you much, but provide additional value to your customers. If you are a consultant, you can offer follow-ups, reports, or a free support line if you have your own software which you are selling to other businesses.
To make 2019 your best year in business, you will have to focus on main improvement areas; costs, value, marketing, resource allocation, and customer service.