Tips for Business Improvement

I’ve been reading articles about Tips for Business Improvement. Here are a few good points that I wanted to share:

1. Be clear on your purpose.

When you are not clear on your purpose it is hard for other people (customers, staff, and suppliers) to understand and help you achieve your purpose. It is also easier for you to be distracted and not give sufficient attention to your business. There may be more than one objective as part of your purpose. All businesses should have an objective to be profitable. Without profits, a business will not be sustainable and will eventually go out of business. But profit is not the sole objective, you may have personal objectives such as providing future security for your family, not working for other people, you are entrepreneurial, or your product or service can help people or the world.

2. Know your customer.

Not everybody is your customer. Some people prefer your goods or services over your competitors. Why? Maybe they like the quality, speed of delivery, size, after sales service, your location, the look and feel, how it makes them feel and maybe many more benefits and attributes. The people who prefer your goods and services are your target market and hopefully, there is enough of them for your business to make a profit. If you know who the people in your target market are, you can develop goods and services for them and you can let them know (advertise) that you have what they want.

3. Be consistent.

Customers like to know that the value (quality, service, experience) will be the same every time they purchase. And, if they recommend your business to friends or family, they will get the same value. You need to ensure you do things the same way again and again. This is consistency and is generally achieved by implementing policies and procedures into your business. Customers change over time, as does technology. By continuously looking at ways to improve your business, you can make changes that maintain the value customers are receiving and improve your business at the same time.

Want to know more? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at robert@vicleaders.com.au; or call me on 0467 749 378.

Thanks,

Robert