8 Important Steps Every SME Should Take
September 27 2021 - These are interesting times for SMEs - not just global brand names.
If anything, SMEs are under the most pressure to perform and survive the economic tidal waves that keep crashing from country to country. Big names such as Apple, Coca-Cola, and Amazon have naturally had to adapt and change over the past couple of years, but itís easier for them to survive due to having greater resources. At this present moment, navigating an SME to safety and success is - undoubtedly - much more difficult.
But if youíre the owner of a small or medium-sized business, you donít need to panic (not even a little bit). This is because you can follow this 8-step guide tailored specifically for SMEs. In fact, after reading it, you wonít be able to live without it!
So, are you ready? Let the guide begin.
1. Modernize your website
Thousands upon thousands of SMEs struggle because of one key reason: their websites are terrible.
The text is poorly written, the images are dated, itís difficult to navigate, placing products in the virtual cart takes forever, and at a secondís notice the whole page can crash. Ah, nightmare!
In the 21st century, thereís really no excuse for having a poor business website. After all, there are so many professional and competent web design companies ready and waiting to help you - quite simply, you need to optimize them.
Learn more about white label website development.
2. Adapt to the needs of your team
A happy and prosperous team is often all you need for a business to succeed.
Therefore, as a business owner or manager, you need to adapt to the needs of your team; and listen carefully to their requirements. Some employees might like weekly feedback, while others might prefer day-to-day correspondence, so try to get a feel for each individual.
Interestingly, thereís recently been a huge culture shift in the business world that youíve no doubt heard about on the news: companies are now letting employees work remotely from home.
If this is something that certain members of your team (or future employees) want, then itís worth analyzing your business model to see if itís possible.
3. Gain large-scale feedback from customers
Customers love to give feedback when prompted, so donít be concerned about asking them for it.
You can gain customer feedback in various ways, including:
- Email surveys
- Social media questionnaires
- Direct phone calls
- In-store consultations
- SMS messages
Feedback is invaluable when it comes to growing your business. For example, you may discover that your customers want to have the option for next day deliver; or that the vast majority really dislike a particular product in your range.
4. Pull the plug on unsuccessful products
Speaking of unsuccessful products, you should never hesitate to pull the plug on them (even if you think theyíll come good one day).
5. Adapt to current economic circumstances
The economy is a bit chaotic at the moment, to say the least. Therefore, itís important to adapt to any changes that occur; such as the above-mentioned remote working trend.
Have you considered shipping your products abroad? This is often a profitable move to make during the era of globalization.
7. Go green
Climate change is a big topic, right now. To future-proof your business, go green.
8. Automate tiresome business tasks
Automating business tasks is becoming increasingly popular.