Basic Areas Your Business Needs to Change to Succeed in Competition
Not quite long, I woke up to this positive productivity quote and it actually keeps me moving. “In this world nothing can be said to be certain, except death and taxes”. Says, Benjamin Franklin. This means even a successful business is not certain to stay healthy and alive till eternity, ‘change’ may ply the way, either positive or negative.
Resultant, multi million dollars’ business or most successful ones are not the types that do start out great and maintain such vision to the very end; instead, most of these business ventures started out imperfect and flawed, and the highly successful ones from the inception are rare, because it is only few among the countless entrepreneurs that take their priceless time to learn how and ways to change, switch and adapt over the time.
There is this assertion that I would begged to dispute, that “all great businesses are byproduct of great ideas— which implies that; one concrete idea in conjunction with a workable business plan which many a time leads companies to its greatest height. But come to think of it friends, this is most time never the case.
How? Fine…. For your business to thrive in hard time, flourish, grow well and eventually succeed, the best option to go by it is to embrace a ‘change for survival’. This is also applicable to human life, and the animals in the jungle on the hand adopt ‘change in habitat’ to survive, grow and flourish from hand of the cruel ones.
However, during the course of developing your businesses, let it be part of you that these areas of your business needs to change and improve to survive:
1. Packaging and Branding
Talking about areas your business needs to change to survive; packaging and branding should never be over emphasized. The power of the two combined in business can destroy already developed business likewise revive the one with a lost glory.
Your business brand shouldn’t be changed over the time if the business is making waves but rather remain consistent and the same for a long and unknown period of years as far as you are making more sales and it doesn’t look primitive and old, and even if, it should be change or adjust with ease, slowly, gradually and carefully.
In fact, adequate announcement needs to be made to your potential and seasonal customers before doing such because if care isn’t taking; the products may be mistaken by your prospective consumers for something else from, maybe, different company as such lead to the premature death of the business.
Packaging on the other hand, is what some consumers do value in patronizing one product to the other; so if such product is being repackage it may ward off such prospect and this may lead to the death of the business. Gradual incremental tweak could ensure this is not harmful and again, only if the business is not doing fine over the time.
Endeavor to make an effort to join professional network with other entrepreneurs in your locality even if you are not sure of them to offer you something special. You never can tell when your business might change out of ordinary and suddenly, they will become the next option and a perfect candidate to help you through.
For this reason, it’s ideal and advisable you learn to seeing opportunities coming everywhere, plus, don’t hesitate to try affiliating or networking with other professional business owner in your area —you can always go back and see them if things doesn’t work out well or go as planned.
3. Staff and Team Restructure
Another area your business needs to change to survive is to try to convey a vital message regarding the in house structures and the overall performance of the team and working staffs. At least, letting some inactive members of the staffs or under-performing team go for good if they are not actively participating and contributing to the business.
Change your staff and restructure your team by constantly searching and looking out for new candidates to refill the vacant spaces. Don’t be too remorseful, dump the bad eggs for the fertile ones, if your goals and priorities are profitability and really needs business survival.
As a business owner whose aim is to maximize profits for a long time, it’s your onus to tirelessly monitor how your operations are being planned and executed. During the course of doing this, it will serve as eye opener to you to see new, odd or strange things or some areas in the operations that need changes or to improve upon to increase productivity, and subsequently quality and profitability.
Your ability to sniff the bad odor that may cause problem to your business comes tomorrow unseen, and taking necessary action by adopting a new idea or taking different mode of operating, the prospective business may lead to something exceptional, hence brings out a better outcome and productivity cum a steady cash flow for the business.
5. Adopt Technology Trends
Verily, emergence of technology in term of business has done more good than harm. Embracing technology sometimes is a great idea to consider when it comes to changing business from one perspective to the other for survival.
Thanks to technologies, you don’t need to go down to a radio or TV station before you market out your product; from the comforts zone of your room, you can incorporate a workable marketing strategy into your business, communicate to your customers on your latest operations, branding and packaging and many other inevitable areas of the business online. This is the magnificent power of technology to today business!
Failure to embrace technology in some certain areas of your business will leave you on a great disadvantage, as such giving your competitor a clean and neat opportunity to climb over you.
Even multi million dollars’ business that has reach a premium brand in the market and every household required marketing from time to time. And if we are to take a clue from any existing businesses with huge potential prospect, you will believe with me that their marketing strategies is being changed over the time.
The marketing strategies are always being changed for the business to survive and even last longer amidst it peers in the competitive market.
If you really mean your business and want to win the competition in the market, you need to start working on these areas I have mentioned in this post. These should be done with much passion and consistence to outpace other competitor.