How do you compare to the competition?
Successful companies always know where they stand in their industry. New sales and products will of course be a priority, but keeping an eye on the competition means less chance of being caught out.
One quick way to find out where your business stands is to ask your staff. They are probably your best source of information as they’ll quite likely have half an eye on them, just in case they look a better career option.
And what else? What other ways can you understand where you stand, to stay ahead?
Review your business plan
Is your business plan still relevant? Things can change in any industry, and so take your current plan out of your drawer and read it. If your targets still stand true, then what about your staff? Can they remember what you are all working toward? If not, spend an hour checking to make sure no one is wasting time or money on the wrong thing.
Empower your staff
Speaking of your staff, when was the last time you let any of them leave the office? Let them go to an event then spoke about what they learned? Showing trust in them may result in some surprise findings, as well as reaffirming their confidence in you as their leader.
Update your technology
Are you still finding staff and clients the same way as when you began? There is nothing wrong with consistency, but if you want to keep impressing clients, then you have to innovate. Using platforms like SHORTLIST is one way to find ambitious candidates as it allows you to find the ones you really need, rather than the ones who see your ads.
Free your time
As your business has grown, which repetitive aspects take up most of your time? Time you should be using to network? A CRM will help you manage your clients or candidates (sending out reminders for anniversaries or responding to enquiries), or letting a graduate run your social media will free up your staff’s to use it more profitably.
Review your Unique Selling Point
Are you still the only or best company in your sector? Chances are, if your specialist area has shown profit, then others have been attracted to it. You don’t want to lose contacts by changing, so how will you cement your position? If you are no longer the only agency in your sector, then perhaps you are the most successful, the longest standing; the most award-winning agency? Re-promote yourself on this basis as if you were launching for the first time and remind your clients why you are the only choice for them.
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