2024: Thrive with Proactive Planning Strategy
It’s hard to believe that 2023 is almost over. Position your business for success in 2024 with a growth planning strategy. However, instead of ruminating over the past, it is important that business owners are proactive and begin looking to the future!
After all, now is the perfect time to update your business plan so that you’re set up for success in the new year. With that in mind, here are four ways in which you can grow your business in 2024, no matter what your speciality is!
Invest in automation
Automation has been a buzzword in the business landscape for several years now. However, it’s something that many business owners fear. For example, you may be reluctant to rely on automation tools to manage customer communications, as this could mean they lose the “human” touch that many customers crave.
Despite this, automating comms can go a long way toward ensuring customers receive prompt responses to their queries, which could help to improve your conversion rates and bottom line. After all, if they can receive a response within seconds (or when they are still actively browsing your site), they are much more likely to buy something than they are if they wait several days to hear back from you. Furthermore, you can always give them the option to contact a member of your team directly if the automated software does not provide them with the answer they are looking for.
However, this is not the only form of automation that you should consider investing in moving forward. For example, if you find it hard to manage employee rotas, you might want to look into scheduling automation tools. This can help you to better manage your workforce, keeping your business healthy and operational.
Sign up for some additional training
As a business owner, you may have grown accustomed to leading training sessions as opposed to participating in them. However, being open to new learning opportunities will help you to develop and refine the skills you need to become a successful entrepreneur, helping you to stay on the cusp of success moving forward.
For this reason, you may want to sign up for some additional training in the new year. For example, if you’re planning on expanding your team of employees, then a leadership course could come in handy. Alternatively, you may want to sign up for courses that teach you how to use AI technologies to your advantage when running a business so that you’re able to leverage new technological tools as and when they develop. After all, this can go a long way toward helping you stay ahead of the competition.
In short, training courses, programs and academic qualifications can help you to build stronger foundations for your business moving forward. In addition to individual training, you may also want to look out for courses that your entire team could benefit from so that you’re able to work together to reach new heights. For example, this could include courses that explore teamwork in a new light, or help participants improve their communication skills. This way, you’re all able to work more effectively.
Go back to the drawing board
If 2023 was a great year for your business, it’s important that you do not rest on this success. For example, a product that sells well in one year may fall off the customer’s radar the next – meaning that you have to bring something new to the table if you want to remain competitive.
Start the new year by going back to the drawing board with your team and thinking about what you want to offer to your customers this year. While you do not have to discontinue popular products, you should invest in new products/services, too.
During this time, you should pay close attention to what your competitors are doing. That’s not to say you should copy their next launch or try to release a similar product – but you should pay attention to how they are maintaining and growing their consumer base. This should make it easier for you to do the same or to identify a gap in the market that your brand can fill.
Start listening to your customers
If you’ve been running a business for several years, you may feel as though you have a deep understanding of your target consumers. For example, it’s likely that you’ll be able to answer questions relating to their age, hobbies, financial status and more. However, any form of customer understanding is limited to the time when you last actually conducted any form of customer research.
Anything beyond this relies on the data gathered during your last focus group or feedback session – which could mean that your practices, products and services are outdated. After all, consumer habits can change on a monthly basis, which means that businesses looking to succeed must ensure that they are always listening to their customers.
For example, a recent study found that “more than 85% of customers want to experience proactive communication and contact from a business,” which could indicate that you need to update your communication policies. This could be achieved by setting goals for your admin team to respond to queries within a set timeframe or by using automation software as outlined above.
Fortunately, listening to your customers is a relatively straightforward task; you simply need to ask for regular feedback and host focus groups. You should also pay close attention to any comments you receive on social media – negative or positive – as they can help you make more informed decisions moving forward, keeping your customers as happy as possible.
From ensuring that you’re giving your customers the care and attention they deserve to investing in the right kind of technology, there are many ways in which you can set your business up for success in the new year!
Furthermore, making an effort now to put these plans in motion means that you can begin to notice the benefits as soon as you reopen in Q1 of 2024!