THE BLOG
11/04/2016 06:35 pm ET Updated Dec 06, 2017

5 New Tricks Old Businesses Should Adapt

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The trick to successful businesses lies in their ability to adapt to changing times even while staying consistent to brand values and goals. What worked for Coca-Cola fifty years ago is most certainly not what's working now. Strategies have changed, implementation procedures have been revised but still they're well within the pursuit of achieving their set goals and objectives.

How well is your business doing in this changing business climate? Are you still stuck on your mode of operation ten years ago or are you set to adapt to the dynamic market space? These few tips should help your business get set for the New Year that's racing towards us in high speed.

1. Keep people informed- People around, your staff, your customers and intending customers need to know what's going on with your business. In a study on workplace motivation, thousands of employees named 'being in the know' as one of the most important factors leading to job satisfaction and staff retention. When necessary, send newsletters that'll update people on promos, news and announcements that pertain to your business. Seek new ways to add value to your customers using information.

2. Keep your brand more accessible- The business sphere is fast evolving and most businesses are 'googled' up almost immediately their names are called. In the same vein, about 80% of people access the Internet via their phones. It tells us the more mobile responsive and friendly your website is, the better positioned your business is. Mobile apps are fast becoming more beneficial to brands who want to reach their customers on the go. It's important to become even more accessible while not compromising on delivering the best of customer experiences.

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3. Keep your brand at the top of every mind- Almost every other day, a new business is born. A problem is created and a new business is created almost immediately to solve that problem or meet that need. In some other parts of the world, a business is rendering same service or selling the same product as your business specializes in. In some cases, your competitor may just have sprung up next door. What then do you do to ensure that your business and brand doesn't get relegated to the back seat? Keep your brand at the top of every mind of your target audience. Build a strong online presence, improve your social media management, update your website with catchy banners and content that'll increase traffic, and keep visitors glued to your site. In some cases, the more your brand keeps coming to mind, the more likely your customer conversion rates will increase.

4. Delegate wisely- It's understandable when some business try with all their might to handle every process in the business. However, when it gets too overwhelming, there's no shame in outsourcing. Especially for bigger firms, outsourcing your cleaning needs to an agency, your security or social media management to agencies specialized in these fields could actually save you more money and man power in the long run. Businesses must identify the two or three core things that they do to add value to the company and outsource the rest. It doesn't quite mean that your business is incapable to getting some things done; it simply means your delegating game is strong and the business can boast of achieving same results through others.

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5. Keep track, report and record- People in an organization have a deep need to know and understand what is going on around them and progress made in relation to their work. They're interested in the output of efforts, the true state of the business and the challenges that need to be combated. They won't know if you don't imbibe the habit of measuring, reporting and giving feedback. The more thoroughly and accurately you pass the details and situation of your business to necessary stakeholders, the happier they'll be and the better for your business.