When you learn from your mistakes, you get closer to success. The best teachers are failures.
With technological advances and new trends, many companies face the process of converting their methodologies and strategies to maintain or achieve business success. Among the aspects that most stand out CEOs in the most recent global survey, innovation is mentioned by 25 percent of the participants, as the main priority for their companies during this year, in addition to highlighting human capital, competitiveness, customer experience or technological capabilities.
The search for growth and innovation is not an easy task, since it is necessary to determine effectively which sectors should grow, the opportunities for this and the establishment of long-term planning, a common need both for consolidated companies and for start-ups.
Based on this context, you can establish the five processes that a company must develop to establish and improve the planning of the growth process.
Have the right personnel
It is essential for companies to establish the requirements and necessary experience in the personnel of the teams, as well as the role they will have within the infrastructure of the company. “It is important to assess whether the type of professional required is one with multiple skills, valid to perform its role in different areas of the business, or seek a specialized professional that fills the gaps in the company’s expertise and helps accelerate new areas of expertise. deal.
You may also like: How To Fire Employees With Bad Attitude
Human capital must be as diverse as the client for whom a service is provided. Have diversity in the staff of professionals, at the level of gender, nationality, experience, etc. will help companies to improve their perception when offering products and services to increasingly diverse societies “, as suggested by a study by McKinsey in which it is pointed out that companies with a diversity of workers in terms of gender and ethnic backgrounds increase 35 percent its benefits.
Focus the business to the client
A successful company is one that manages, in addition to maintaining its customers, acquire new and retain them. “Companies that focus their business on customers are 60% more profitable; and it is important that they maintain this point of view throughout their entire business life, and not only when they start their activity in the market, as is often the case.
To address this situation, it is necessary to analyze the current client base to detect the strengths and weaknesses of the company’s performance when retaining customers, as well as pay close attention to market trends. Conduct surveys, interview new and current clients, and those who for various reasons unsubscribed, and actively listen to them to act accordingly.
Also read: 10 Powerful Ways to Motivate Your Employees… (without money)
The digital revolution and the development of new communication-related technologies allow us to generate two-way conversations in real time, as well as to develop active and efficient user communities. “Paying attention to investment in customer service and customer experience is essential to establish new relationship models that help reinforce the confidence that customers place in the brand.
Adaptation to changing technologies
Going to the new technologies offers numerous possibilities for companies, of all sizes, when it comes to improving their operations and contributing to growth. “The adoption of cloud-based services, for example, is a way to reduce established IT infrastructure, not only by reducing costs and improving efficiency, but by freeing the IT team to explore new ways to use the emerging technology that It will improve the business instead of simply reacting to problems.
The same technology can also provide flexibility for workers to work remotely, which allows them more flexibility when managing daily tasks. The technology also allows the release of equipment to carry out more innovative and strategic tasks that directly reinforce the growth of the business and the final result. “Through the correct use of technology, companies can be more innovative and productive.
Delegation. I learnt the hard way back when I started my company that burning the candle at both ends whilst trying to wear a lot of hats is one of the worst things you can do for both your business and yourself. Delegate. Build a team and delegate work to those who are super talented in that task. This is a sure fire way to accelerated growth, successful projects and a good structured business. James Blake
Getting ahead of events
To establish sustained long-term growth, the promotion of short-term sales through promotions and new products and services that contribute to generating income is not always the best way. “Companies must have a broader vision and have strategies to anticipate market and customer trends, and stay ahead of the competition.
This requires a more holistic and longer-term vision of your company’s operations and businesses: your company’s vision, sales strategies, market positioning, its workforce, its technological infrastructure and processes, etc.
This analysis can help make the business more efficient and effective, as well as create new revenue opportunities and identify ways to reduce risks.
You may also like: 7 SEO Benefits To Dominate The Jungle… (Concrete Jungle).
Focus on the business itself and not the competition
“Instead of focusing on competition, companies must invest time and resources in better understanding their own business, including the development of their teams and commitment to employees. A recent report on employee engagement notes that a 50% increase in active employee participation in strategic aspects for the company equals 3% in revenue growth in the following year. “
Encouraging the growth of a company requires time and effort, a path that must be shared by all members of the organization, to work together for the same goal. Therefore it is essential to involve everyone in the process, when it comes to growing a company.
If you liked this article, share so other may find it.
