RBSS can help you develop your business performance strategies
How do you plan on being successful in your endeavours? Will you have great customer service? Do you plan on building strategic partnerships? Will your supply chain be the source of your success? These are all factors one must consider when launching a new business. Where and how will you network? How will you market your goods and services? We can answer these queries for you based on the information you supply. However, we always suggest that our clients at least make an attempt to answer these questions for themselves. Sometimes, theories are better in our heads than reality. Once you have explored these concepts you can really drill down to the crux of your business. So ask yourself: how can I improve business performance?
Ways to improve business performance:
Sometimes we get caught up in the language of the business world and think that business improvement strategies are complex, but usually they are not. The ideas can often be simple, the execution however may be trickier. Look at the different aspects of your business and listen to your inner voice about what isn't working quite as well as it should be.
Great customer service
You can’t go wrong with great customer service. Whether product or service based, wholesale or retail, your clients will become repeat clients when your customer service is on point. You know what they say, when a customer is not satisfied you won’t see them again but then they go on to tell 100 people about the bad service they received. When you go out of your way to assist your customers, they tell everyone they meet. Wouldn’t you rather be a source of happiness than one of frustration? Enterprises with terrible customer service cannot expect to grow. Is there any way that you can give better customer service? Ask your customers for feedback., perhaps offer them an incentive.
Will you grow your business through various marketing platforms? Will you choose social media, email campaigns, T.V., radio, personal appearances or sponsored events? Sit down with our business consultants and iron out who your customer base is.
You want to know them like the back of your hand. It’s essential for you to know what is important to them, their annual income/revenue, how do they spend their disposable income and where they reside. This is just the beginning of defining who your client is.
Fortunately, you have the world at your fingertips. The internet can provide you with any statistical information you desire. Where you spend your marketing budget is entirely dependent on your demographic’s statistics. Primary market research is equally important and where the business lends itself to test marketing, then do so.
If you are not investing time in marketing your business properly, you are missing out on numerous opportunities.
Strategic partnerships and networking
You will find that your social circle gets smaller once you become an entrepreneur. To expand your market share, you will need to create strategic partnerships with like-minded businesses. The goal is for their clients to become your customers too. We find that our clients spend more time on their computers than interacting with real people. You can spend two hours at a benefit lunch and meet three people who will become clients, because you reminded them of a particular need and they liked your personality. Or you can spend 24 hours staring at your computer screen and not garnering a single sale.
There are so many networking groups across the whole of the country. Look up what's going on in your local area and get out and meet people. As with anything you need to be a regular attendee to allow people to get to know you.
Periodic goal setting and philanthropy
What gets measured, gets done. Goal setting doesn’t stop once the doors are open and your business is up and running. Our business consultants will help you set daily, weekly, monthly, quarterly, bi-annual, annual and 5-to-20 year business goals.
Philanthropy should be woven into your business plan. Not only does the law of reciprocity work in your favour, but if your customer associates you with doing good in the world, they are more likely to purchase from you. TOMS shoes is an excellent example of this. Their shoes are not particularly attractive or practical in urban environments and yet people all over the world purchase them because they feel like they’re doing their part in making the world a better place. What could you do to help your local community?
Benchmarking is about comparing your business processes and performance metrics to industry bests and best practices from other companies. It’s a unique and effective way to objectively compare your business performance against your peers. Some of the benefits to your business are: it helps you improve performance, increases sustainability, improves profitability and enables you to structure your decision-making processes. RBSS consultants are qualified to carry out this activity on your behalf using the Benchmark Index tool.
For many small businesses there is no extensive management or marketing team. Quite often that is the responsibility of one person alone. Thinking through all of these benchmark performance strategies can be daunting and confusing. That's where hiring a business consultant, such as RBSS in Romford, can help you have a professional sounding board, that can help you develop and implement these business performance strategies.
Call 0333 355 1696 to speak to a business advisor and allow them to make suggestions for business improvements.