Small Business Solutions6 Recruiting Tips
Defining Business Objectives
I have a question for you. Name your top 3 business objectives without stating any financial goals such as profit or increased sales.
Not easy is it. The purpose of being in business is to make money, and to make more of it as often as we can. So that should not be the ongoing objective, but the purpose. Slightly semantical I understand. So what are some great business objectives you should adopt? Glad you asked. Here are a few.
As you can see, meeting any of these objectives can in fact either make your company more money, or save your company money. However, these objectives do not originate from the point of making or saving money, but by doing business better. This ensures long term results, not short term gimmicks.
If you target your customers better, you will spend less and have more ROI. But how?
With a brief survey, you can target your customers much better. You will know their needs, how they find solutions to their needs, what motivates them to convert. You can then shift your marketing effort to speak more directly to them and their pain points.
If you work towards reducing customer complaints, the effect is that your products or service improves. You retain customer loyalty and retention, while improving your word-of-mouth metric.
When you streamline your processes, reduce waste, eliminate defects, and remove problems that make you perform the same steps over and over, your cost of producing that product or service goes down. You are also increasing your team's morale as their work gets more satisfying. Your customers will appreciate the quicker turnaround and reduced cost due to savings on your end.
When communicating better with your customers you learn their needs, and they are more open to give suggestions for new or updated products or services, or improvements you can make. They will tend to talk about a problem they had instead of complaining.
Sometimes growth is defined by increasing customers, but when you are saturated, you may need a new product or service. Even if you don't, this is a great exercise in that it forces you to think about your customer and their needs, which is far more important than your needs.
Every business wants to make money, and more of it, I understand. But I really believe the focus should be on doing better business, and here is where I can help, and here are some areas I specialize in.