How Effective Are Your Business Operations?

Collaborative post – may contain affiliate links

Everyone knows the value of optimizing their output. In a business, it’s practically necessary. Let’s take the example of a restaurant. A restaurant must keep with the times, and provide a contemporary and excellent menu for their guests. To do this, they must routinely assess buyers, routinely check how long dishes take to be created, routinely access if they have the correct amount of staff in the kitchen, and funnily enough, routinely care for routines. If the restaurant fails to do this, then it starts taking on dead weight. No business can afford dead weight.

There are many forms of this. It might be keeping too many or too little bodies in employment. It might be the quality of your office lighting is impacting the alertness levels of your staff. Optimizing your output express itself in thousands of different ways, and they all have an affect. In order know how to prioritize this, and to know what to look for, you should consider the following:

Process Management

Digital systems allow us to handle many aspects of a business at once, and keep track of many variables. How well are you exercising this? Are your business efforts disorganized, between many different applications, and fragmented amongst people with different levels of authority? Might centralizing these processes be the best solution? If you’re able to do this, you might notice that time is saved, you are more easily able to manage projects, communicating with your staff about the finesse of a certain responsibility and generally your working ease are all improved. For this, it’s important to use the best software. You can find that with BPM Online https://www.bpmonline.com/l/bpm/definition/business-process-management, one of the best resources to educating yourself on this topic.

The Customer Experience

Remember that the core of most of your efforts is the driving energy to take care of the customer experience. In order to cater to this, you need to prioritize it well. Businesses can often fall into habits of catering for their own convenience, and this might sacrifice the end result. For example, sometimes improving the speed at which your manufacturing process is taken care of can impact the end quality of the goods, even if that means saving money and time, that might not translate to the customer feedback and return business you enjoy. Consider how what ‘effectiveness’ means to you, and how this affects the functional relationship you keep with your business.

Suppliers

There is always a better price available for a certain supply, but that doesn’t mean you should go for that option. In order to stay the best business practitioner you can be, sometimes you need to ask for a better deal, negotiate terms, and sometimes even shop around. This is one of the last things that many business leaders take care of, because sometimes the perceived benefits of loyalty seem preferable to gaining a better product or paying less money for the same service. This can be the case. However, without the willingness to review your connections in this regard, you’ll often find yourself limited to only one option, and that can be an issue.

With these simple reviewing efforts, you are sure to optimize your business output week after week, month after month, year after year.

The New Marketing Paradigm: Wants, Needs & Expectations

Marketing to customer’s needs is dead. Wants are the new needs.

Wherever lies a successful industry the perceived “need” is really a want.

Take for instance Uber. The average person does own and can afford a car (need), but some prefer not to pay for insurance, repairs, gas, etc. because ride sharing provides convenience (want).

I’ve applied this concept to my new venture, online tutoring. There is a huge market for this due to competitive parents/students. Colleges do take into account SAT/ACT scores and any advantage a parent can give their child is welcomed. Tutors aren’t necessary to get high school students into college, but they do have the inside track on test taking skills. Parents/students want to attend their dream school so hiring a tutor is a leg up on the competition.

Expectations, on the other hand, are determined by experience. Yelp is known as a food review site, but what it actually reveals is the customer experience (CX). Read any Yelp Elite member’s reviews and you’ll learn how the business made them feel. This is key to selling any product/service.

Nike, Apple and Disney all market experiences, a.k.a. how you feel interacting with their brand.

The hospitality industry lives and dies by customer reviews.

Marketing today depends on identifying what your target audience wants, then meeting or surpassing their expectations with a phenomenal experience. That means no matter how technologically savvy your company is, what matters is how “soft” your touch points are.

That doesn’t mean you need a customer service hotline for your mobile app you create, but it does mean when something goes wrong you’ll be judged on the response time and solution offered.

Artificial intelligence, robots and technology make our lives easier, but the need for human connection is at an all-time high.

For your current or future business idea make sure you are meeting a want and exceeding expectations from your customers. Do that and you’ll be converting your marketing investment into sales.