7 Tips on How to Successfully Grow Your Business in 2020
Please enjoy this guest post from our friends at Connecteam
Whether you run a small business or a massive enterprise, you are expected to have all the answers. From problem-solving to engaging employees to marketing to managing finances to delivering superb customer support and so much more.
You’ve probably gotten used to wearing a dozen different hats, but the bottom line, you’re a little tired of asking yourself how else to grow your business. Thing is, results won’t happen overnight, but with time and effort, your business will reap the benefits. By following along with our seven tips, you can and will grow your business.
7 Easy Tips on How to Grow a Business:
1. Know your customers.
Developing services or products that sell like hotcakes only works if you know what the needs of your customers are – understand customer needs and wants through research. Ask for honest feedback, even if it’s brutal! Feedback is the best way to develop services or products that meet the demands of the market and your customer wants. Plus, it can help you better understand which areas need improvement.
2. Invest in an employee engagement app.
You really wanna know how to grow a business? Invest in your employees by investing in an employee engagement app. An employee engagement app helps raise engagement and morale, reduces turnover, makes it easier to gain honest feedback and improves everyday productivity. It’s not enough to just have the best product and provide amazing customer service, you need to have the best employees clocking in and out. One way to get the most out of your employees is through engagement.
An employee engagement app provides you with real-time access to how your employees are feeling. So boost engagement by sending birthday wishes, acknowledge personal achievements, send positive customer reviews, share the employee of the month, discuss announcements and updates, and so much more.
3. Invest in a time clock app.
Forbes reported that 89% of employees actually waste time at work and 57% waste about an hour a day – all of which costs your company billions of dollars. So what’s the solution? Investing in an employee time clock app helps eliminate wage and time theft. Using a time tracking app helps reduce the payroll process time by 15%-35% and reduces the total payroll hours by 10%-22% because problems like budding punching and rounding of hours are curbed.
Additionally, accurate time tracking, is crucial to your business success. When employees are sure that their paycheck is right on the money, then they’re happier, engaged and more productive – which only leads to happier customers, a low turnover rate and many other benefits.
4. Make customer service a priority.
It doesn’t matter how good your service or product is, if your customer service is spotty then customer satisfaction just isn’t possible. You have to take that extra step to make your customers feel special.
Make sure your customers know they’re valued and if they have problems, address them immediately. Answer questions that they have, it shouldn’t be a battlefield just to alert you to certain problems. Your customers can be brand ambassadors because the more they recommend your product or service to others, the better for your business.
5. Use social media to the fullest.
When there’s 3.1 billion social media users, you could say that social media is a relevant and powerful tool. Plus, about 80% of people follow at least one business on Instagram alone. Engaging with your customers and potential clients is a lot easier thanks to the many social media channels available – doing so keeps your business relevant and allows you to reach across the globe to promote your business. Read through comments to learn what people think about your brand, positively respond to them, and take action when relevant – maybe your customers have some awesome ideas you can implement.
6. Get organized with an org chart.
During periods of growth in your company, it can be incredibly helpful to keep a source of truth about your workforce and reporting structures. Whether you make this information available by building an org chart in Word and distributing it manually or use an org chart software to keep these insights organized, having an employee database about what team people are in, what each employee is responsible for, and how to contact them is conducive to any company’s growth.
Whenever the opportunity arises to join a networking event, go! This is a huge chance to expand your brand and extend your networks. Building relationships with other people can be highly beneficial for your business growth. Networking is a great way to connect with others that can help build and grow your business, like investors, mentors, customers, employees and so on.
Find what works for you.
Try all of these tips on how to grow a business and stick to what works best for you. Any strategy that fails isn’t one worth pursuing, instead stay on course with the strategies that actually work. If something fails, just refine your approach and focus on what’s working.
At the end of the day, you will see results but just be patient. It’s a marathon, not a sprint. Handle obstacles one at a time and continuously implement strategies to build your company, you’ll get the results you want.