Three Priorities For Business Growth In 2017

Three Priorities For Business Growth In 2017

Are we crazy to suggest that your business can grow in the middle of a recession, that it can do better than just survive? No, we're not. Even now that times are hard, some businesses are thriving and there's no magic involved. Many of such businesses are focused on these priorities:

1. The value proposition.

You're not just selling a product or offering a service, you're providing value. And at this time when people are holding on very tightly to their hard-earned money, you must convince potential customers that they truly need what you're offering them. Not just that you're offering a good deal but that your product or service can make their lives better in a clear way. For example, the value proposition of a serviced office is that it removes the financial and logistic burdens of managing an office facility so business owners can focus on actually running their business.

2. The customers.

First, your customers.

Loyal customers are the life of your business: they don't take their money elsewhere and they refer their friends and family to you. Satisfying them should always be important to you.

Second, your competitors' customers.

Your competitors' customers are your potential customers. Speak to some of them, ask them how satisfied they are with what they're getting and what they really want. Use the information you get to improve your business and see if you won't win new customers over.

3. The staff. 

Quality people make a quality business, and quality people need to be attracted and retained. Don't stop looking for people who can move your business forward just because we're in a recession. Considering the state of the economy, many people want to switch to a better-paying job or one with better working conditions. Take advantage! Define your business' staffing needs, seek out ideal candidates and interview them. One or two great hires can transform your business.

And as you keep an eye out for great people to add to your staff, keep an eye on your current employees. Take care of them or they'll leave as soon as something more appealing shows up. It's only natural.

We deliver! Subscribe at the bottom of this page to get MARGIN in your inbox twice every week.

14 Ways To Love Your Business

14 Ways To Love Your Business

Five Things Nigerian Businesses Must Not Do In This Recession

Five Things Nigerian Businesses Must Not Do In This Recession