Improving your business in an ever-changing world is an ongoing process that never really ends.
Everything you do must be analyzed and revised, ideally with technology replacing manual processes.
Change can be frightening when it interrupts your business and negatively impacts your market share. However, every business is going through the same challenges, so while any change can be nerve-wracking and exciting, disruption can be minimized when you plan for success.
What you learn about technology adoption and running a small business is valuable when you’ve created a multi-million dollar empire. 🙂
Certain principles remain the same regarding the growth and scaling of your enterprise. This business blog reviews the must-have tenets to keeping your business on its growth trajectory.
Create A Strong First Impression
A compelling first impression is invaluable in the marketplace.
Attention spans are fleeting, so having something that catches the eye and imagination can do wonders. There are no second chances for a first impression, so it pays to have this squared away as soon as possible.
It’s a good idea to have a logo and website with a clean and interesting design. Research suggests that aspects which contribute to an attractive web design includes not feeling overloaded, and emotional engagement.
Nobody likes going on a website that gives you claustrophobia by merely looking at it. Consider modeling the website on a different one that you emulate. It’s never a bad idea to put yourself in the shoes of a consumer to orient your perspective.
Set Clear Goals
There’s no way to attain success if the success is not defined. It’s been shown that setting goals can improve performance for individuals. Improved performance means a successful workforce and, in turn, a well-oiled machine of a company. This puts everyone on the same page concerning the company’s direction.
People often make mistakes when pursuing their aspirations: failing to define exactly what they want. “Success” then becomes an elusive and hazy concept that is never truly fulfilled. Choose to use the SMART goals methodology to set up objectives you can not fail to achieve.
As humans, we are wired to progress through life via goal-setting and accomplishment. In fact, our brains have a built-in reward system that confers physiological benefits to the body when activated.
Know When To Take Risks
Taking a chance with your life or business elicits a visceral response in the body. A person’s risk tolerance is associated with dopamine release and has deeply rooted implications for us as a species.
While undeniably a daunting proposition at times, taking risks, in turn, allows you to become better at handling them. You will better understand what you can manage and what is simply unfeasible. Getting in touch with this part of yourself can do you well in the long run, but be smart about it.
If your company operates sufficiently in a small market niche, consider whether expanding your market share is feasible. An integral part of taking risks involves impromptu learning, so if fear is holding you back, don’t let it.
Sometimes forcing yourself into a sink-or-swim scenario is the only way to know how to do something. For example, you can read books all day on how to play basketball, but you can only get good at it by doing it.
Taking risks is the only way to discover untapped potential. This is true for a company, as well as people individually. Jeff Bezos started Amazon as a small online book vendor. Over time, he learned more about running a business and wisely decided when it was time to expand. Successful people will tell you their triumph is laden with failure, so be willing to fall on your knees every now and then.
It can be easy to fall behind on technological innovation, given the rate at which it flourishes. The best businesses use the tools available, as this increasingly makes short work of formerly tedious tasks.
You should also place a high value on your company’s security, as one data breach can bring your company to a screeching halt.
Data breaches are also at an all-time high and show little sign of slowing. It would be a savvy move to explore backup aid in an emergency, so your company’s order is not disrupted.
Insufficient backup for your data can mean a tremendous setback, potentially costing way more than you can afford and suspending business indefinitely. The problem is compounded when you realize all this work needs to be made up when systems come back on.
Although planning for an emergency is something many people don’t want to consider, it deserves serious consideration. Plus, if you’ve evolved your eCommerce to include crypto payments you’ll want to ensure your systems are compliant and secure, including best practices.
Don’t Be Afraid To Delegate
Understand the logic and practicality of delegating work to other employees. If your operation expands beyond your time and resources or your current team, know that hiring another person can significantly raise your business’s competence level.
People sometimes lose track of how much work they are doing on their own, only to realize they are spreading themselves too thin.
Every now and then, take a moment to step back and see if you could increase the quality of your business by lightening the load on your shoulders.