Many small businesses or consultants batch invoices where the volume does not justify it. Invoice as soon as you can. The longer it takes to process invoices, the higher your cost-per-invoice gets. This could prevent possible cash flow issues and less stress about delayed payments.
Simplify your business
Reduce the number of products that are unprofitable. NO business is better than BAD business. Quite simply, unprofitable customers consume more resources than they pay for. They divert attention from a company's profitable customers.
Simplify your Marketing Message
How will you reach more people in order to grow your business? Marketing. Simple marketing can work. How?
Get a website
It is surprising how many business owners either don't have a website or have a below-par website, doing them more harm than good. Template-based cheaper websites are not always better and we believe custom sites are needed to portray your specific brand and message. We can strongly recommend www.crtgroup.co.za a local company able to provide custom as well as template sites. They have not only helped us but numerous clients to get our respective messages across.
Learn to delegate
Find out what you do REALLY well, then delegate the rest, your trust will likely be rewarded with increased capacity leading to increased revenue. Your staff and culture will assist in fostering a devoted team of employees who invest their time and dedication to ensure growth.
Encourage employees to explore more efficient approaches
More efficient approaches will require a critical look at processes. Communication in relaying tasks to your team effectively will be very important as this will determine how they perceive the goal/objective. Clear communication can help with efficiency and performance. Encourage employees to find the best approach to reach the goal when they understand the task at hand.
Work smart, not hard is a typical saying, but if you can work faster and do more jobs in a year because of it, this will help your business grow. Smooth out all business operations and planning processes to find the best yet most efficient way of getting the job done.
Reward your team for meeting budgets and timelines
Rewards will keep your team motivated and constantly striving for more. Track staff performance and give them a 5% bonus for instance. Meeting deadlines and exceeding expectations can become more and more rewarding in this way.
Make sure you have clearly outlined the project scope
Generally, people include what forms part of the project, but rarely include what should not be part of a project. It is better to clearly outline critical points which are not within the scope of the project. Let's consider that you are working on the installation of a new database project in an IT company and the scope is only installation and configuration. It is better to mention that the migration of data from the old databases is out of scope. Because some stakeholders might consider that the new database installation will cover also migration of data as well.
Risks that might affect the project must be communicated as well as constraints and assumptions. If constraints or assumptions of a project do not go as planned, these will affect the project scope and other aspects respectively. Therefore, these must be agreed upon per commencement.
Offer to be a spokesperson on your speciality
When your local media needs an expert opinion, be that person if it is within your field. Send them a relevant press release every month voicing your expert opinion locally can be an important way to find new business. If you want to work with local clients, you should focus on local events. If you sell a product nationally, then you should speak at the largest events you can.
Get your supporters to refer you
You've tried banner ads, sponsored Facebook posts and pay-per-click ads and have been a little dismayed at the return on your investment. Your digital marketing methods might have provided a slight boost in revenue, and now you're asking yourself: "how can you grow your consumer engagement and get noticeable results?". Here are some suggestions.