By Evan Vitale
As 2015 begins to close and 2016 starts a new year, a good question to ask yourself is “what’s holding you back” when it comes to growing your business in 2016?
Here are some reasons why business might be slow or why 2015 wasn’t the greatest year you had hoped.
Have a good, workable business plan
While you should have a business plan in place before you start a business, most business owners don’t realize a great business plan is one that is constantly changing and should be updated on a regular basis. What is your plan for the new year? What changes should you be making now in order to plan for a better year for your firm? Do you have plans in place in case of a business crisis?
Do not under-estimate your competition
We all like to think our business, products and services are the best in town, county, state, country, etc., but truth be told, we may not be keeping a close enough eye on our competition (and, yes, your competition is a real threat). Always be aware of your competition; their advertising and marketing techniques; how are they positioning themselves, etc. Do not ignore your competition.
Many business owners still have no idea how their products and services get sold every day. They believe the “if you build it, they will come” marketing strategy. Unfortunately, these myths will soon fail and you’ll find yourself one day worrying about low sales figures and wondering how to pay bills. All businesses need to invest quality time and money into marketing so new customers can find your company and buy from you.
Better customer service
Take better care of your customers and clients this year. Help them. Thank them. Appreciate them.
Invest in your employees
This might come as a surprise to you, but some of your employees may not like working for you. They arrive; punch a clock; do their job and go home. However, a happier employee is a more productive employee. And, believe it or not, a pay raise isn’t always the best way to motivate an employee.