18 Jan How to Revitalize Your Company From Stagnation?
Have you ever wondered what sets apart top businesses from the rest? Think of Jeff Bezos – Amazon and Howard Shultz – Starbucks as examples. What type of grass root approaches did they take when they first begun and how have they made them grow the levels they are for sustainable success?
I have looked at business icons and companies they run for quite some time. Here are ( ) attributes that can revitalize your business out of stagnation to take to the next level for sustainable success.
- Superior Customer Service
Many companies have customer service department inside or subcontract out to handle customer questions and issues. However, the reality is the level of service is way below standard because there is not enough focus directed to this area. They reply upon automation and reduce training to personal to cut expenses. This reduction with expense plays a major role why companies remain stagnant and do not grow each year. The simple fact is that when you truly show people you are human and that you care, they will appreciate your company even more. For example, Zappos is highly focused and committed to customer service. Their list of testimonials seems never ending and are unsolicited which means they are doing something right.
A well-defined customer strategy builds your existing customer base where they become life-long buyers. You have to show your customers that you are willing to take care of them. You have to treat them like humans and cater to their feelings. There is nothing better than a happy existing customer base because despite the retention they often refer new business to you. Word of mouth advertising is best way to build your business from a foundation of satisfied customers. Although you may spend more money to have superior customer service, the outcome will be far more than the expense. Never undervalue customer service when building your business. If you have not been focusing on customer service, start now this is the single most important thing you can do to revitalize your business out of stagnation.
- Create Consistent Value
Many businesses put too much emphasis on the balance sheet short term rather than focus long term creating value that will grow their business. Although it’s important to keep a close eye on your financial situation, it is even more important to focus on creating an exceptional product and providing superior customer service.
When you combine creating consistent value with customer service, the result is higher quality products and better service. This leads to increase in sales which mean higher revenues for sustainable success. This is why companies like LL Bean are successful. They offer multiple platforms for customers to buy their clothes and products. This is via direct mail, online, and store front. In addition, the quality of their products is much higher so while the cost is often higher, the exchange of value is there customers to see it to keep coming back. Their service is also exceptional as there is focus is always on the consumer first.
The problem is that many companies take short cuts producing products and often lack quality. If you take shortcuts with your customers, you will business will not become successful long term. You need to allow your business to revolve around your community. It pays to give value. It is a smart strategic business move.
- Focus on Community
Consumers tend to favor companies that have vested interest in their communities. It is vitally important to create a community-oriented business. People become committed and follow your company when aligned around their community.
Applebee’s is an example of a restaurant chain that has locations within communities. They offer a variety of different food options that cater to people’s preference and service is very good. They adapt to the community culture as evident with décor within individual establishments. This builds a connection with people that reside there to make them feel comfortable and welcomed.
There you go. If you desire to take your company from stagnation toward sustainable success, these key attributes are ones to follow including the companies provided here as examples. Make it a priority for your organization to stop playing small and begin playing big using these principles provided here.
To your health & prosperity,