Contributed post
As the end of the year approaches, it can feel like the right time to reflect on your business practices thus far. How well have you implemented them this year? What decisions have you made that could be considered growth-inducing in the life of your firm? What were the landmark events that your business enjoyed this year? Can you replicate them next time? How have you measured your progress?
For this article, we hope to focus on one important consideration often not considered – are you catering to your niche as well as you could be? While almost all businesses fall into niches of different sizes, sometimes it’s important to consider how to expertly implement the available business practices to you. For example, the billing process might be very different in a hair salon compared to a retail store.
We’d like to offer some examples here to help provide you with fuel for the end-of-year reflections we have spoken of. Perhaps they could offer you something worthwhile to consider:
Billing
How effectively are your business practices being carried out, and are they being fitted correctly for your audience? Of course, this might sound odd to hear to begin with. Surely the tried and tested methodology of your industry is the most important to follow? Well, just how technology companies can make the most from learning the difference between invoicing and integrating your satellite billing into a more cohesive framework, it might be that your personal industry could benefit immensely from considering how improvements in billing security, incentivizing quick payment and potentially opting for the most suitable means can be worthwhile. Consider the case of Adobe.
The software company, offering packages such as Photoshop, once sold their software for thousands of dollars. Now, almost all options are based on a recurring subscription model, blasting open the doors for convenient use from hobbyists and professionals alike, allowing their product to expand. This all occurred thanks to a simple change in billing structure. It’s always good to think outside of the box, so never be afraid to do so, even with considerations as vital as your billing practices.
Policies
How well are your staff policies conforming to the needs of your audience? Is the script your staff follows when dealing with customer actually tailored to the intricacies of your latest product rollout? How well are you conforming to the ethical needs of your industry, especially when business PR seems to be much more exposed than usual? How are you making innovative steps in order to stay relevant and a bright voice in your industry, keeping your audience’s ears open to what you have to say?
Often the systemized nature of your business can benefit from considering these questions, potentially helping you make better decisions in the long run, and giving you the tools to develop as your best, most rational business firmament.
It’s quite incredible to see how these two business changes can mean the most for your firm in the long-term. Without the willingness to see the benefit here, it might be easy to fall victim to continuing the same practices you have. Your audience may not always dictate the direction you head in, but sometimes, with the right sensibilities, following this direction can yield excellent results.