Articles covering best business practices and important insights

Is Your Business Future Proof?

Is Your Business Future Proof?

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The Future is Here Every Day

With ever developing technology and a constantly evolving market place, there has never been a time where keeping on top of your business has been more important to survive. We know it can all feel a bit complicated, which is why we have created a list of ways to future proof your business.

The Rise of the Millenial Generation

The millenial generation are increasingly taking over the workforce, with over 50% by 2030. And the igeneration is not far behind. It’s imperative your business is online and on social media with strong positioning and authority in order to finding and recruiting younger talent.

But it doesn’t stop there.

If you find invaluable members of staff in this process, it is important you offer an incentive to stay. For better retention of staff, offering training and mentorships is a great way to cement your workforce and for keeping staff happy.

Diversify Your Product Spectrum

The truth is, relying on one great product in this marketplace just will not cut it anymore.

While you might be know for and brilliant at one thing, the chances of your survival are low. You never want to become dependent on anything in your business, because if that one thing becomes redundant, or some other business comes along and does it better than you, you no longer have a business.

The way to future proof your business is to think about natural ways to expand on what you already sell. Diversify your product spectrum by offering similar products for a higher or lower rate to meet to needs of all your potential customers, whilst maintaining the quality you need to survive.

Build a Virtual Marketplace

Whatever has worked for you in the past may not work for you today, because how we acquire customers is always changing and you need to be prepared for that.

Build a Virtual Marketplace

For example, leaflets through the door used to be a great way to get customers, but with the rise of social media these tactics are not so useful anymore.

One way you can future proof your business is to start building your online presence through social media, with a website that has ecommerce capacity. You could even employ a member of staff to start learning about online marketing to attract your ideal customer at a price your business can afford.

We suggest you try a few methods, decide what is working for you and adapt accordingly.

Automate Business Activities

Artificial intelligence (AI) is on the rise and here to help your business. AI helps by taking over a vast amount of tasks, which allows you to focus on what you are best at. Go through your business processes and decide which areas could be helped with technological solutions, and which systems are best suited for you.

Not only can they do tasks for you, but many systems can help improve productivity and reduce costs to your business as well. Make sure your staff are involved in the process too, to ensure they are comfortable and on board with the new technology.

Effective Communication

Effective Communication for Rockstar Business

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Embrace Organizational Communication

Effective communication skills are integral to the success of all your business activities. Without it, you may find that your organization is slowly but surely unraveling and succumbing to conflict and misunderstandings.

Communication is more than the spoken or written word. It is a lifeline for trust, camaraderie, and productivity. If you want to grow your business to rock star level, organizational communication should be your number one priority.

How to Manage Employees

Managing employees comes down to one thing – effective communication. When channels of communication between you and your employees are open, they will not only have a clear vision of the business’s objectives, but they will also know exactly what they have to do to reach those goals.

An employee that knows exactly what is expected of them will typically be more focused and motivated to reach their goals, especially if they are able to take actionable steps that are well-defined and measurable. Instilling a sense of autonomy to let them make decisions that benefit their own work environment not only raises morale, but improves the company’s overall health and progress.

Managing your employees comes down to finding out where they find themselves in the process of reaching their goals, which means listening and understanding. This will help you understand why their performance is on a certain level and allow you to address core issues that they may be struggling with.

Communication goes both ways, and you should ensure that your employees can communicate effectively with you as well.

How to be Efficient with Your Time

Using the correct mediums for communication can be pivotal in improving your time management. It is important that you prioritize communication, much like you would with tasks. Technology has reached a stage where it enables you to schedule your communication, leaving you open to take care of the most important things first.

Designate specific times for emails. If you receive instructions from clients via email throughout the day, put other forms of communication on the backburner. You can update your instant messaging profiles to show when you are available so you don’t have to check your phone every 10 minutes. Caller ID apps can help you filter out spammy calls and increase your time efficiency and focus.

Effective communication can also help you increase your time efficiency. When you are clear on a task or objective, it removes a lot of ambiguity. This means less time-consuming queries and follow-up meetings.

How to be a Good Leader

Being a good leader depends to a great extent on communication. There are many communication methods to a leader’s disposal. As a leader, you also have to remember to listen. This does not only mean hearing people out but also paying attention to their non-verbal communication.

You have to tap into people’s body language and facial expressions to understand what they feel and what they need. This comes down to empathy and is incredibly important when it comes to being a good leader. Try to always put yourself in other’s shoes. This will enable you to communicate with them in a way that they will grasp and take to heart.

Understanding people’s fears, daily struggles, as well as the things that motivate them, can help you put things into perspective for them and lead them towards achievements they may not have reached on their own.