Successful Businesses: Getting Back To Basics
Successful businesses in today’s economy frequently tout the ability to drill down into metrics, brand reach, large data integration, and more as being the factors for their growth and revenue. However, many up and coming successful businesses are getting back to the fundamentals of commerce, and are reaping the rewards.
Successful Businesses Optimize Their In-House Talent
In pain English, “optimizing talent” just means hiring the right people for the right jobs. However, while people look great on paper or a LinkedIn profile, finding a fit for team projects may be a bit more challenging than matching up skills with role requirements. People need to be self-motivted, able to adapt, and understand objectives. Businesses are also looking for people who want more than just a job. If employees feel invested in your business, they will work harder to ensure success on all fronts.
Your Identity Is More Than A Logo
Successful businesses have identities and brands that are much more than neat logos, “like” buttons, and a large social media presence. Successful businesses gain a large following by what they do, how they conduct transactions, and how they fit into the larger economic and social ecosystems. Some businesses partner with worthwhile charities. Others leverage their marketing to raise social awareness. Others take time to hold workshops to help prepare future generations to be successful in their chosen fields.
Even Niche Businesses Diversify Revenue
Successful businesses never put all their eggs in one basket. Relying on revenue from a very narrow audience will not help to sustain or grow operations. Businesses need new customers in addition to recurring ones. This means breaking into new markets, and some may seem outside the norm. This is where hard data and creative thinking dovetail. Expanding your horizons to run campaigns targeting untapped markets can yield surprisingly lucrative results.
Successful Businesses Engage Their Customers
In the age of automation, most businesses rely on pre-recorded menu options for their phone lines, canned responses, and ineffectual social media interactions. The reason for this is that there is a school of thought which states a customer population over one thousand cannot be engaged by a business on a personal level. While no business will ever be best friends with their customers, direct communication is important. Target, which is not a small chain by any means, has real people maintaining social media accounts to ensure real, rather than manufactured, engagements. The same goes for Wal-Mart, AT&T, Coca-Cola, and myriad other megacorporations. Now, if these large businesses can communicate with their customers, why can’t smaller operations?
Running and growing a business in today’s economic landscape can tempt many entrepreneurs to opt for total automation and digital tricks. However, finding a happy balance between technology and old-fashioned small business values can yield more sales and a positive customer experience.