With a changing economy and technological landscape, building and growing a business is increasingly requiring businesses to ‘tech up’ – take on efficiency driving technology to help reduce their costs, remain competitor and deliver more services. These apps and programs can help you better utilise your data, touch base with customers and market your products. Here’s a few tips on how you can use efficiency strategies to grow your business further.
Use a CRM
A CRM (customer-relationship management system) is a software program or application which can be used as a central point of information and contact for retaining clients contact details, sales data and marketing contact. They use data analysis from a customer’s history with the organisation to help improve the relationship between business and consumer, allowing the business to focus on driving further sales growth. A good quality CRM can help you find more opportunities to provide value to your customers and generated more business accordingly. Each industry has preferred CRMs and you can find in-depth CRM reviews on what to choose for your business.
Prices vary significantly, from free to thousands of dollars a year. Likewise features and benefits are varied – so make sure to use a CRM which fits exactly what your business needs to gain the maximum benefit.
Standardise Your Human Resources (HR)
Most small businesses fail to invest in human resources and fail to gain the efficiency or best utilising their labour accordingly. In medium to large enterprises significant allocation of business resources is spent on human resources, to help identify develop and redeploy talent within the organisation to increase the businesses bottom line. As a small business, you can still gain value by using standardised human resource materials. Build standard templates, policies and procedures. You can even outsource your human resources to a third party to gain a skilled third party to help grow your businesses knowledge base.
Standardising and outsourcing your HR also has the benefit as a protection against potential employment legal issues from maladministration from incorrectly following legislation. With employment laws increasingly becoming incredibly complex, it’s important to have a professional on your side with matters which could otherwise cost you significant time and money.
Work With a Business Coach
There’s a lot of them out there – but most businesses (especially startups) don’t have a business coach. Whether this is an informal or formal training program, having a business coach can help you drive forward long term goals, identify weaknesses in your existing business and give an outside perspective. A coach can also enable a third party to keep you on schedule and committed to your business. It’s simple for a single operator business to fall behind as no one else will notice – but with a mentor you can be held accountable.
When choosing a business coach, ensure you check any testimonials, their experience and clearly articulated what they will provide your business through their services. Pricing can vary widely, so ensure you can have sufficient funds to invest in their services for a long enough time to reap results.