We all set out with the best intentions when it comes to our business. There are plans and goals we strive to abide by, but then the daily grind gets in the way and we only tend to focus on the requirement right before our eyes. It’s common to feel as though we are simply scratching the surface of what is possible in our business, and this can feel pretty disarming to those who want to do it all. If you’re looking to shape up your operations and revise your current business processes to align with your core objectives, start here with your need priorities.
First up, accounting
If we’re categorizing business priorities into want and need, then having a comprehensive accounting framework is absolutely a need. Implementing quality accounting software in the UK has spelled success for many SME’s, and it will likely save your business some time and human error. These software solutions will give you a dashboard view of your business for the day, month and year – eliminating the need to pull and analyze complex reports. It will also make paying invoices and tracking incoming payments easier for all, with the information available at a finger stroke wherever you are.
Review your headcount
SMEs have a way of creating hard-working teams, who can wear a number of hats at work from time to time. This isn’t something you should change, but it is advisable to see who is accountable for what, and whether that structure still makes sense. Perhaps your receptionist manages your social media accounts because there is an interest there, but if you’re being honest – it may not be the best way to communicate with your audience. By the same token, you may find that some members of your team can afford to take on some other responsibilities. Have an audit and figure out what departments need more or less support.
Ask the most important stakeholder
There is a range of ways to gauge the sentiment of your audience and target customer. Some businesses will view this as a negative, but it’s also an opportunity to turn lemons into lemonade. What better way will you learn what needs to be revised if not hearing so from your core audience? Take stock of your Google reviews, verbal reviews and any other channels that you hear from your audience. To take this a step further, you can implement an NPS (net promoter score) system within your business to discern where the strengths lie and what opportunities you can improve upon. Fostering an environment of feedback and development will encourage innovation and creativity, the building blocks of a thriving business unit.
Deploy AB testing
Now that business optimization is on your radar, you’ll likely want to throw many strategies at the wall to see what sticks. This is when AB testing provides value, as it will uniquely identify every strategy or stream that is new in a split test, so you can assess where the traffic spike or conversion increase has come from. If you believe that AB testing is for marketers only, you’ll be surprised to learn that businesses use this model in customer service, design, and language capacity also. Start fleshing out your strategies, and make sure they are tagged and identified so that only the successful solutions will garner the greatest returns.
Several, if not all, business owners will tell you that they are not always exactly where they want to be, with so many optimizations and ideas on the long list of things to get started. The challenge comes down to identifying what has the greatest cut through and starting there first.