Keeping a business afloat can be a challenging task. Successfully growing a business can be a particularly formidable one, especially when we consider the possibility that the decisions we make while expanding might actually hamper our ambitions for the long term.
Let’s take a look at three considerations for growth in 2024, and how we might ensure that we develop and prosper without painting ourselves into a corner.
Make sure your goals are SMART
The ‘SMART’ framework for your goals is incredibly useful. This acronym stands for Specific, Measurable, Achievable, Relevant and Time-Bound. For a goal to be considered ‘smart’, it will need to satisfy all of these criteria.
For example, if you say that your goal is to shift more products, then it might be difficult to determine whether you’ve succeeded. How much did you really hope to sell? Of course, the figure you pick had better be achievable. By remembering the acronym, you can refine your targets, and you’ll have a more solid basis via which to judge your success later on.
Incorporate technology and automation
2023 was the year in which artificial intelligence really took a leap into the mainstream. As the technology matures, we might find many new ways for a business’s operations to be streamlined.
If you’re looking to incorporate more tech into your workflow, then it’s a good idea to start by identifying the most time-consuming, mundane tasks. If your organisation is spending a lot of time renaming documents or appending data to a spreadsheet, for example, it might be that there’s an alternative solution that can help you do the same task in the blink of an eye. This is where no-code platforms like Google’s AppSheet can be extremely compelling.
If you’re unsure of how to integrate technological solutions into your business, then you might seek the service of the relevant consultant firms. This way, you’ll be sure that you’re taking every opportunity available to you.
Focus on new customers
If you’re going to grow your business, you’ll need to draw in new customers. As such, you’ll need to market to those customers. Build trust slowly, starting with a professional-looking website. Tailor your email marketing to appeal to those customers.
You might also make hiring decisions based on this customer-focused ethos. Draw in employees with experience in digital marketing and customer-facing roles. Make sure that everyone is on the same page when it comes to the importance of customers, and devise a list of SMART goals that will improve your standing with those new customers.
Of course, you already have a powerful means of attracting new customers. Your existing customers can act as advocates for your brand – but they’ll do this only if they feel moved by the quality of product or service they’ve been given. Through an unremitting pursuit of excellence, you can get the message spreading through word of mouth.
