There a lot of factors that business experts roll out when the matter of improving one's business is brought up. Like studying your competitors, proper market research, adaptation to market changes, etc and all these factors if properly leveraged can prosper one's business. Handling a business is a very technical affair and requires expertise and skill. Some of those expertise are obvious while some are overlooked. This article focuses on overlooked factors you can leverage to take your business to the next level. They have been tested from time to time and have been found to be very effective. Let's dive in.
Know This First…
Business or entrepreneurship is all about creating a solution to a problem. That is, you identify a problem people are willing to pay for it's solution and you provide the product or service that solves that problem. That's where market research comes in. You identify people's needs and then provide an answer to them. You don't just jump into a business because you feel like it or because it's lucrative. You have to find out if there are people that really need the services or products you want to sell.
Don't Forget The Place Of Mentorship
Improve Your Business With These 7 Tips.
7. Take Note Of Customer Preferences
Always take note of something you do that a customer likes or hates. They may tell you or may not. If you discover they like it, or it puts a smile on their faces or they compliment it please keep repeating that act. If it's one they dislike, never ever do it again. If possible apologize well for that and never let it repeat. Simple tip, but it can keep or repel your customers.
6. Attractive Environment
To be frank, a beautiful, comfortable environment attracts people. That's how a beautiful business environment also attracts. People are often repelled by untidy, unorganized business premises even if the product or service they offer is superb or cost-effective. So upgrade your business by upgrading it's environment. Keep it tidy, clean, well-furnished and comfortable for your customers. I know a guy whose customers almost tripled because he invested into beautifying his business premises.
5. Decent Appearance
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Decent and good dressing and looks can attract customers. So when in your business, dress your best or tell your employees to. As insignificant as it may seem it's a huge factor that can elevate or stagnate your business.
4. Good Customer Service
I was watching a video of the billionaire investor Warren Buffet tell a story of a personal friend that used this trick to grow his car rental business to the biggest car rental in the US. Mr. Buffet said that people will forget the price of the goods purchased from you but they will never forget how you treated them, how you made them feel. Mr Buffet also said, when you treat them well they are more likely to come back and if not they're more likely not to. So be courteous to your customers, pay attention to their complaints and solve them, offer them the best of services. Do things to them that make them feel important as your customer, etc. Even you can testify of going back to business places where you were treated well to make purchases again and running away from ones that treated you like crap.
May I say this: Never, ever exchange words with a customer no matter how annoying they may be. Listen to their bizzare complaints and try your best to calm them down and sovle it. This single act can keep that customer with you like forever. Also try asking about the personal wellfare of your customers, not all the time though. It gives them the idea you're interested in their wellbeing and they will be drawn to you and therefore to your business. Also thank them for their services. Put a smile on that face. Be friendly. These are little psychological tricks, but they work like magic.
3. Hire The Right Employees
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Always hire experienced skilled people, especially if your business deals with technical matters. Make sure the people you hire are overqualified for the job, so to speak, and will handle it expertly even in your absence. It may feel like you are wasting money going for the best employees but when your business starts growing you will find out it's the best decision. All the world's best entrepreneurial institutions from Google to Apple to Microsoft all have a habit of hiring overqualified professionals and experts that's why they stay at the top.
2. Keep Up With Changes Within Your Line Of Business
Monitor what goes on in your line of business and take note of when new changes are introduced so you can adapt or when a particular way of doing things or a style of product becomes outdated. Get information regularly from people in your line of business who know what's happening in it. If an old customer comes to you and see that you are not following a particular trend recently introduced into the market and that customer likes that particular trend, next time they'll go to other places that have adopted those trends and may never come back to you even if you adopt them later. This is one of the mistakes that brought down the smartphone giant, Nokia. So, stay up to date and adapt quickly.
1. Invest In Personal Growth
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Always keep improving your capacity to run your business well. Read books that offer useful knowledge about your particular type of business and business in general. Attend business seminars and conferences, meet with people who have already succeeded in that business space before you. You will keep improving and will run your business better.
I hope you found my article useful. You can read more on these tips I've provided. Links below. These tips can make you achieve more in a year than you'd in ten if you retain your former nonproductive ways of doing things.
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