for when you think about some of the most successful businesses in the world, who do you think about? We’re going to be some of the giants like Microsoft, Google, Nike etc. come to mind. But do you know they’ve done, or what they do to make themselves so successful?
Chances are you might not even have a clue, but whatever they’re doing is getting them to where they are today. What do we know for sure is it takes a lot of hard work and determination to make it to the big leagues, and not every business is cut out to do it. So many decisions to fall at the first hurdle and refuse to get back up again. We’re here to make sure you don’t do this as a company.
We’re here to make sure you go as far as possible in the business world by following a few of the tips that we’ve got below for you. Here’s a little hint for you, they’re not really that hard for you to do! Have a read on to find out more.
Customer security should always be the most important thing to you. Even some of the biggest companies out there are struggling to keep their customers’ data safe due to the high level of hackers that will try to enter different systems daily. It is something that can’t be helped, but will soon have massive consequences if a data protection breach occurs.
A new law has passed that holds the company responsible for the loss or theft data. If the theft is proven, there could be a fine in the hundreds or thousands of dollars. So, it might be worth considering different, more safe methods of storing data that will keep your customers safe. There are so many alternative methods to use that are better than the mainstream ones out there. For example, you’ve got companies such as Onlime that are rivalling big data companies such as Dropbox and beating them.
Onlime challenges Dropbox in many different ways. One is the level of customer service that they offer. They believe customer service should be in multiple different languages, this is something a lot of companies actually fail at. If you’re managing your data using an in-house server, or perhaps even a managed server, you must be keeping everything encrypted, and the encryptions are kept up to date regularly.
The latest company to have a significant security breach scandal is Facebook, arguably one of the biggest companies in the world. They were sharing data in specific ways that they shouldn’t have, and that the consumer wasn’t aware of. So, if you’re going to share data with anyone, always make sure full permission is given within the terms and conditions, and make sure you’re still following your own terms and conditions.
You might start to notice a pattern that your customers should be the most essential thing in the world to you. They’re what keeps your business ticking, alongside your employees, of course, so you want to make sure they’re as satisfied as possible at all times. One of the best ways of doing this is through the aid of market research.
Knowing precisely what your customers want from your products or services is essential, and you best believe that all of the biggest companies out there are conducting market research daily. In fact, a lot of companies don’t roll out a new product without doing this!
The benefits of it are as follows; you’ll save a lot of time in the long run, even if the upfront cost is a bit high, and you’re guaranteed to always keep your customers happy! Then you need to make sure the people working for you are keeping your customers happy. Long gone are the days where company owners take a back seat in things like this, it’s time to take the bull by the horns and tackle any issues in this area. Because at the end of the day, the people who work with you just won’t have the same values as you. You’ll have the odd person or two who can meet your standards, but the rest will only be in it for the money. What can be the complication with this? Bad customer service. And what does that lead to?
A lack of customer satisfaction. We believe that a business should constantly be updating their employees with new ways to make the customer happy. Just a simple smile, or perhaps a nice question about how their day was is all it’ll take to keep them happy. The number one golden rule of business is to remember that the customer is always right, pretty much in everything they complain about.
Money management is one of the things that bigger companies are really good at, or really not in some cases. There have been some big learning curves that we can take from some of the biggest companies in the world that have fallen over the last few years. Just think of some of the biggest and the best.
There’s Blockbusters, Monarch, Carillion…. The list could go on. What did all these companies do wrong? Well, they left debts mounting up and up until eventually, a multi-million-pound company couldn’t even pay them off. So it begs the question of who was in charge of managing such a thing. That’s why the person looking after your finances has to be one of the most trustworthy people on your team. Whether it be you, or someone you outsource it to, you should always oversee any final decisions.
Don’t keep taking out loan after loan just because your business is making enough profit and you want to invest further. Use the earnings for better uses, and you won’t have to do so. The more debts you have, the messier things get. You should also be looking to put the money you do have to good use. You can either think about investing back into the business to try and push for growth, or you could invest in things such as stocks and shares to bring more profits in.
There’s two parts of productivity that we need to talk about. The first is productivity with yourself.
If you haven’t heard of Elon Musk, then you’re probably living under a rock. He is the owner of multiple companies, Tesla and Space X, to name but a few. He believes that he can function from six hours of sleep, and still manage the time in his day to even see his family and do leisurely things. This is one of the reasons why he makes so much money. He doesn’t take a back seat in his companies, and he plays such an active role in the production of new ideas, and the smooth running of companies in general. The same can’t be said for a lot of other business owners.
As the years go by, it’s so easy to lose motivation, therefore creating a lack of energy that your business might so desperately need. The second area that you could be getting let down in is productivity from your employees. They’re the ones who are doing the same job day in, day out. After a while, this is bound to get a little boring, and productivity levels are going to drop. All you need to do is give them a little motivation, whether it be from the promise of a pay rise, random incentives, or a day out to boost team morale.
The more prominent companies out there, like the ones that we have listed, all have their own ways of using different marketing techniques to their advantage. A lot of them actually use a range of different methods to give the most significant boost to their business.
Smaller companies are a bit intimidated by techniques such as TV advertising, but there’s no reason why they should be. It is one of the most effective marketing techniques to use, but it can also be one of the easiest to get wrong. We all know how an annoying advert can put us off a perfectly good company, so make sure you’re careful when using a jingle perhaps. Then you’ve got to think about other techniques, more relaxed ones that will still yield the same effect.
One of the biggest to try and use is SEO, and there are plenty of companies out there that will be willing to help you with a campaign. Make no mistake, SEO is a risky technique to use, and if you do it wrong, you could do more damage than good. Do it right, and it will massively improve your rankings within Google!
So, after reading this, do you feel as though you could rival some of the biggest companies out there? Probably not, but with a lot of hard work, you can definitely get close to being just as successful as they are.