As a business owner, you understand that competition can be both devastating to your business and a blessing. If the competition is more equipped than you, you might start to slowly lose customers to their more effective sales teams or marketing strategy. However, if you play your cards right, competition can encourage you to make needed changes you to business that inspire more customers to come and use your services. When competition comes to the area, you need to be prepared to step things up to ensure that you come out on top. To help you in this process, here is what you need to do in order to improve your business in 30 days.
1. Train Your Employees
Your employees are the face of sales, the face of marketing, and the face of your business. When potential customers enter the building, they talk with the employees. They are the ones who resolve the problems and concerns. Without proper training, your employees could sever your contact with a potential customer. With proper training, they could help you to gain more and more customers every day. The key is training. When you hire a new employee, make them go through an onboarding process so that they can acclimate to the business faster and more efficiently. They will be able to quickly build a group of people whom they can trust and rely upon. Doing so will make them more effective workers. You should make sure that employees are receiving weekly training on how to recognize and resolve customer concerns. This includes hearing customers and reading their body language. They should practice role-playing frequently so that when a difficult question does come up, they will have a prepared way to solve it. You need to focus time and effort on perfecting your customer service.
2. Understand Where Your Finances Are Going
The next step that you need to take is that you need to understand where you’re spending money. Have a meeting with those in charge of tracking the finances of the company and go through everything on the budget. Then, decide what is vital to the company and what might be drawing unnecessary funds from the bank. Then, create a list of the items from most important to least important. Get rid of the items that are lowest on the list. Those things are taking funds away from the company that could be better spent elsewhere. You could put those funds into improving your customer service or into advertising rather than spending money on something that isn’t helping to expand your business.
3. Make Your Company Name Known
If there is a competitor that is taking your customers, it’s likely because their name is out there while yours is not. Customers like to go with companies that are more well-known because they feel like they are more trustworthy than a company that is more obscure. If you find yourself losing customers to a larger or more well-known business, then you can easily identify your problem. You need to make your name known and respectable in your community. Have a few of your employees come with you to do community service on the weekends while wearing the company logo on their shirts. When people see you, they will recognize the logo and associate you with good deeds. You can also host a charity event so that people will associate you with charity. It’s also a good idea to be out in the community doing public speeches, and talking about your company whenever the opportunity arises.
You always need to remember that your employees are one of the most important aspects of your business. Make sure that they’re happy and well-trained. You should also get rid of anything that isn’t necessary so that you can focus your finances on more important things in the company. And, always make sure that your name is out there in a good light. If you do these three things, your business will flourish in just 30 days.