How to Keep Your Business Running Smoothly in Uncertain Times
Here at LBT, providers of the Cloud Associate package, we are acutely aware of the needs of SMEs and business leaders. That’s why we’ve written this short blog to share some tips to help you navigate through times of uncertainty.
We’re in the midst of Uncertainty:
Markets and technologies are advancing at a pace like we’ve never witnessed before. As business owners, professionals and entrepreneurs, it’s likely your business, or the organisation you work for, has been presented with an array of opportunities. At the same time this brings additional pressures for an organisation to keep up or face becoming outdated, maybe even extinct! With the likes of Brexit, increasing regulation surrounding everything from tax, data, digital media, property, through to pressures on business over plastics and recent calls for urgency in tackling climate change, these all ad to the mix of factors buffeting your business, implying it is a very unpredictable future in which to invest.
Here are our Top Tips for Keeping Your Business on Track…
Keep investing in your marketing
The marketing budget is often one of the first things companies cut back when things become uncertain, but usually only serves to compound problems with maintaining sales further down the line. It’s your marketing activity that will bring about new opportunities and lead to new sales, to replace orders that may drop off during a lull. Continuous targeted marketing will help to ensure your sales stay up during the most testing of times.
Embrace the latest technologies
People and organisations are often reluctant to embrace change, but many innovations and new ways of thinking will help you to work more efficiently. Not only that, if you don’t embrace them, it’s likely a competitor will soon take advantage of the opportunity for themselves so don’t miss out on your chance to stay ahead of the pack!
Keep in regular contact with your customers and prospects
It’s all too easy to assume your customers will come to you when they need something new, but you need to keep them up to date about what you can offer or they might look elsewhere. Plus, most of us have been guilty of losing touch with longer-term prospects when we get busy. Unfortunately, we cannot expect these opportunities to be there waiting when things get hard and the last job comes to an end! Using a tool like Cloud Associate as an entrepreneur or small business owner will help you to manage relationships with your customers and prospects more efficiently, meaning that you make contact at the right time, with the right message.
Ditch the Spreadsheets
Utilising a simple software solution like Cloud Associate for customer relationship management (CRM) means you won’t be spending unnecessary time looking for information in ever expanding spreadsheets. Get the information you need at your fingertips within seconds.
Build a flexible strategy for your work-life / business
Set some clear goals about what you want to achieve in your career or where you want your business to get to. At the same time factor in some flexibility and acknowledge that how you get there may be subject to change, depending on the external environment – some factors will simply be out of your control and accepting this help you to stay positive as you tackle new challenges.
Look for ways to embrace new legislation
New legislation is often seen in a negative light, especially by businesses who see yet another layer of red tape. Let’s face it, some of it can be a real pain! However, once implemented much of this legislation is here to stay, so why not try to embrace the opportunities it presents rather than fighting against it? Respond to changes faster than competitors, learn about the intricacies of the legislation and then offer consultancy or see how demonstrating compliance can help to reassure customers and bring on new business.
Avoid unprofitable contracts
If things get tough, don’t panic by taking on unprofitable contracts to fill the order book. This will only tie up your resources and put further burdens on your team, meaning that you have less time to go out and look for new business.
Get the most from your time
Time is precious so look for ways that you and your business can utilise the time you have most effectively. With a limited set of resources at your disposal, you need to maximise efficiency to get the most benefit from them. There is a plethora of time management tips online, but we believe our Cloud Associate app, to manage your personal and business life more efficiently, beats most of them hands down– a unique way of organising and highly customisable, the app will help you to organise your past, present and future.
Cloud Associate – Never miss a meeting, recall correspondence with the touch of a button, store important documents and much more. It’s free to use and everything is encrypted and held securely in the cloud so what are waiting for? Download from the app store today http://bit.ly/download-cloud-associate