Stagnant and ailing businesses need to revamp their business models and stop waiting for the slow economic recovery ahead of us all.
Reviewing your business operations includes looking at your I.T. Establish what is actually working for you and stop wasting time with what is not. There are often inexpensive options that can see you profit the most from your technology.
Many people are energized by the confusion and stress of impending deadlines, but over the long haul, you will not be able to use your limited time wisely if you work in an unorganized environment.
A business plan is important throughout the life of your business – not just at the start – and one of the crucial things you should identify in that plan is why your existing customers should and do buy from you.
Why a business is doing well or poorly is in the details. Measuring takes time and discipline, and forces management to think strategically. Subsequently measuring is often ignored. Measuring results, however, is the only way you can possibly improve upon them.
The mindset of a buyer is much different than that of a seller. The buyer tends to be focused on “what’s in it for me,” whereas the seller tends to focus on the technical aspects of “what we do”. Business needs to understand why customers buy from them so they can focus their marketing efforts on those emotions.
As technology limits the need for an office, the self-management model will be the norm, not the exception. Self-management is about pushing authority and responsibility down to the lowest levels of the organization where the people doing the work can impact the work environment in real time.
Create a mindset in the work place that is encouraging and embraces change. Everyone in this tough economy is either having a hard time or is scared at losing it all. It is time for criticism to be more unusual and praise to be more common.
Business development, advertising, marketing, and public relations are all about growing the number of people who know you and your business. Become a resource for information for your clients and industry to increase your profile.
The most common problem of being environmentally conscious is the cost; it’s expensive to be green. That’s obviously a true statement if you look at the short term. However, being green is by far the most profitable strategy for running your business and can lend itself to business opportunities.
Employing the discipline to consistently dedicate time in refining your business plan and planning strategically is essential to its viability! Entrepreneurs cannot let the day-to-day demands on them prevent them from taking this crucial step.
If you are a leader in your business making plans for the coming year, part of your job is to identify all the direct and indirect stakeholders whose lives you impact, and who impact your business.
How can business best plan for growth and success in these tough economic times? Creatively tapping into the talent pool that exists due to the current economic times is an excellent first step. Business should also make better use of the experience and creativity of staff and even clients.