By Gordon Lee
The survival of small businesses depends on their ability to compete in the market. By identifying its main needs, the company can adopt a system that improves its management, increases its competitiveness, and provides more chances of success.
- Make A Strategic Plan
Establish strategies to achieve the company’s objectives, considering information related to customers, markets, suppliers, employees, their ability to provide services, produce and sell. “This allows us to position the organization competitively and guarantee its continuity. It’s not enough, just planning. The next step is to create action plans, define the people in charge, deadlines, and necessary resources to carry out activities to achieve the main goals and strategies.
- Promote Continuous Improvements
Innovating in products, services, processes, and management methods is a fundamental step to ensure business growth. Listen to contributions from employees and seek information in the market – sources can be other companies, competitors, universities, research centers, and associations, among others. “The implementation of a permanent improvement program and the pursuit of excellence contributes to increasing the company’s competitiveness.
- Control Performance
Creating indicators and targets that allow controlling the main activities and analyzing business performance is essential to ensure good management, serviceminder for example can help you with all these. Regular meetings with the organization’s directors are essential to measure the results obtained and take corrective measures when necessary; indicators and targets must include the company’s main areas, including finance, production, sales, suppliers, customers, employees, and environmental issues.
- Don’t Neglect Your Finances
Keep an eye on your cash flow and always have a budget plan for at least a year. Correa points out that this is “a good strategy to ensure the availability of resources for the purchase of materials and services, the payment of employees and expenses, in addition to investing in equipment for marketing, provision of services, production and delivery.”
- Organize Information
Information necessary for carrying out the company’s activities, analyzing, and conducting business must be organized in a standardized system, which includes effective tools and technologies to meet the needs of employees. “The company must share the information to allow the proper execution of the functions. When registered and documented, this information allows the continuity of activities in case of replacement of professionals”, recommends Correa.
- Keep An Eye On The Competition
Regularly obtain comparative information from other companies in the same industry. “This practice is functional to encourage organizations to adopt new practices and methods to improve services, products, and processes.
- Listen To Customers
Organizing the customer base and grouping them by similar profiles allows the entrepreneur to identify their needs better and format services and products more suitable. “Considering the differences of each client, it is possible to publicize and offer products and services in the most appropriate channel to reach them and arouse interest. Promoting periodic satisfaction assessments and creating adequate channels to hear complaints and suggestions is also important. “It’s the best way to identify opportunities for improvement.
