Every good soldier dreams of becoming a general one day. Every office worker thinks of moving up the corporate ladder. In the same way every business owner dreams of achieving what they perceive as success for their business. Usually it implies growth and development of a company: more customers, more revenue, more publicity and popularity. In our last blog post we have talked about one specific thing that helps to achieve business success – business plan (which is pretty specific thing). Today we would like to continue talking about how to be successful in business (emphasizing more general prerequisites).
Management Practices & Industry Experience
There are a lot of prerequisites of a business success. The opinions of experts differ in number of such prerequisites, but most of them agree on 2 basic things without with reaching success for a company will be almost impossible.
Sound Management Practices. Defining management practices is crucially important for any organization or company. In other words there should be a set of management regulations unto which the coordination of all efforts/programs should be subjected. This is a very wide area of responsibility, nonetheless very important one. It comprises the planning, staffing, resources (human, financial, natural, and technological) administration, etc. To put it simply establishing solid management practices is like establishing the rules for the game. The rules will regulate what you can and can’t do in different situations. Playing a game without knowing the rules is ridiculous. The same thing is with a business – there have to be rules and everyone in a company should know them in order to maximize efficiency.
In this section we would like to emphasize the importance of customer service management. The way you treat your clients can make a huge difference for your company. Providing professional live support (technical support) is extremely important – over 60% of clients claim that it is how they feel they are treated is what defines their buying experience. When you build up management practices, pay special attention to your call center services / online customer support.
Industry Experience. Imagine you want to start working as a doctor saving lives of people, but you don’t even know how to provide first aid response. You may have the desire and passion, but it won’t work out well because after all you won’t be able to treat people because you have never learnt anything about that before. The position of a physician requires rigorous and extensive training before one could ever start treating people. The same with the music teacher. If you want to be a teacher of music, but you know nothing neither about teaching methodologies nor about music, it is unlikely that you will become a great teacher.
For some reason business owners who have decent investment potential assume that they can get in any industry and succeed there without knowing much about the industry itself. But it is not about money. Every specific industry has its own rules and features without knowing which you put everything at risk. Knowing how businesses function within certain industry is extremely important and ignoring this prerequisite may ruin your company. It doesn’t necessarily mean you must have worked within certain industry for 10 years or anything like that. But is surely means you must have experience obtained either through analysis, research, or from other source. Learning what customers need, how other companies behave, what are efficient ways of providing certain services – all of this can either help you grow or make you stumble.
New Employees While Cutting the Costs
At some point you will need to look for hiring new people and cutting the costs. In this case you can consider outsourcing call center or answering services. Those could help you cut the costs, ensuring professional ongoing customer support.