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Five tips to grow your business

Small Biz Resources | by Patricia Jones
Make 2015 the most profitable year

Five tips to grow your business and make profit. Whether you have just started or already running your business for a couple of years – whether your business is on an upward track or on its way down – what you essentially need to focus on is improvement. In this scenario of cut throat competition – you really cannot let your business remain stagnantly working for long. So making improvement to better it should be proactively done. And what better time to plan for it than now when we are about to enter a new year.

If planned and implemented right, 2015 can indeed be the year of your business to rise and shine.

In what follows are five compelling tips that hold the potency to take your business to the next level. Read, understand and implement and see your business grow like never before –

#1 Minimize your unnecessary Costs

Is a major chunk of your capital getting spent on acquiring, managing and integrating different business applications? If yes, think of a solution that fills this gap of budget and resources. For instance – why not opt for the new-age small business CRM that function as an all-inclusive solution for the SMBs. Right from sales, marketing, customer service and collaboration – it streamlines and manages all from a single source point. And what’s best – CRMs built on the cloud platform deliver flexibility, agility, and extensibility to configure it as per the business’s current and future needs. Utilizing its open APIs – you can build custom solutions, and other organization-specific application enhancements.

#2 Keep Score

Even if you have the best of professionals in town to manage your processes – do not keep yourself in the dark. Know –

  • Where your company is progressing in terms of sales?
  • Which leads have the maximum likelihood of getting converted into deals?
  • Are your customers really happy with your service or is it only in your mind?
  • Are your marketers following the new age targeted approach?

It’s amazing how small businesses do not have much idea of the daily, weekly, and monthly sales, marketing and service stats of their organization. Do not be in that category anymore. Spend the necessary time keeping these things on check. Once you have the stats in hand, start thinking ahead. Collaborate with your managers and plan what you will need to keep growing, going forward.

#3 Monitor Industry Trends

You cannot operate in vacuum. Whether you like it or not: the changes in your industry have an effect on your business too. So stay current on trends. And the best way to do is to monitor what the industry leaders are doing.

So if your competitors are using the BYOD policy; see what benefits lay behind doing that and if found useful embrace the trend too. Virtualize your workspace with cloud based applications. Shift all your business data to the web based CRM solutions and give your employees the benefit of working effectively from anywhere by accessing the data from any internet connected device.

All in all – make working smarter, faster, and more enjoyable.

#4 Sharpen your Selling

Talented and motivated sales people can impact the most to your bottom-line. Learn what motivates your sales employees to higher levels of performance. Assist them with all the tools and technologies. Ensure that they are at par with the sales teams of your competitors.

#5 Establish Priorities

Making a profit is an obvious goal, but there can be infinite ways to do so. Be more precise with your aims. Do you want to double the lead generation in the next quarter? Do you want to open more channels of communication to make it easier for your customers to reach you? Do you want to accelerate lead generation, sales opportunities, service cases and marketing campaigns by using a collaboration platform that lets your customers, partners and employees engage with each other easily?

UNDERSTAND: Identifying your priorities will determine the future course of your business, and help you invest time and money on the right area that makes the biggest impact.

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