Businesses fail for a lot of reasons. It can be due to lack of (or poor) customer service, poor leadership and vision and/or strategic planning. Often they don't happen in isolation. Whenever one of these things is not performing at its optimum level (or a sufficient level), business success is adversely affected.
Customer Service is essential as without it a business's capability to generate sales is adversely affected. You need to have employees who can understand the needs and wants of the customer. This encourages customer loyalty and retention. In addition to this, you need to have products and/or services that promote customer retention and/or serve a particular market niche. Loyalty programs can help preserve customer loyalty up to a point. Any product/service that attracts a particular customer segment can help increase loyalty. But it the combination of these elements that has a long lasting effect on keeping customers loyal and adding new clients.
Leadership is important as they are the driving force within your business. They will determine how your vision is implemented within your business. This is because they are responsible for directing the employees and putting into effect ideas, processes and systems that will lead them to the vision of the organisation. Regular communication is important so it matches your own vision, ideas and processes otherwise you may end up at a different place than the one you anticipated.
Vision and Strategic Planning are the final aspect of business you need to get right. This is because you can have all of the above that was mentioned but if you don't know where you are going you won't know where you will end up or worse, you'll end up somewhere where you didn't want to be in the first place. Vision should be encompass everything, you should work out the goal you want to be at that matches your vision. For example, you want your business to focus on customer service (this is your segment) and that you want to have a 5% Return On Investment within 5 years (this is your goal). Your vision is focused on customer service but your strategic plan is focused on the 5% Return on Investment and your strategy will determine what method you will use to get you there. This incidentally is related to your vision of being a customer service focused organisation.
Managing these three areas effectively will help ensure the success and continuing force of your business. Make Customer Service an integral part of your organisation. This will help make sure your sales are continuing to be generated and increased. Leadership and Vision are essential as well to make sure you are headed in the right direction. Keeping these three as the cornerstones of your business will help you succeed.
Customer Service is essential as without it a business's capability to generate sales is adversely affected. You need to have employees who can understand the needs and wants of the customer. This encourages customer loyalty and retention. In addition to this, you need to have products and/or services that promote customer retention and/or serve a particular market niche. Loyalty programs can help preserve customer loyalty up to a point. Any product/service that attracts a particular customer segment can help increase loyalty. But it the combination of these elements that has a long lasting effect on keeping customers loyal and adding new clients.
Leadership is important as they are the driving force within your business. They will determine how your vision is implemented within your business. This is because they are responsible for directing the employees and putting into effect ideas, processes and systems that will lead them to the vision of the organisation. Regular communication is important so it matches your own vision, ideas and processes otherwise you may end up at a different place than the one you anticipated.
Vision and Strategic Planning are the final aspect of business you need to get right. This is because you can have all of the above that was mentioned but if you don't know where you are going you won't know where you will end up or worse, you'll end up somewhere where you didn't want to be in the first place. Vision should be encompass everything, you should work out the goal you want to be at that matches your vision. For example, you want your business to focus on customer service (this is your segment) and that you want to have a 5% Return On Investment within 5 years (this is your goal). Your vision is focused on customer service but your strategic plan is focused on the 5% Return on Investment and your strategy will determine what method you will use to get you there. This incidentally is related to your vision of being a customer service focused organisation.
Managing these three areas effectively will help ensure the success and continuing force of your business. Make Customer Service an integral part of your organisation. This will help make sure your sales are continuing to be generated and increased. Leadership and Vision are essential as well to make sure you are headed in the right direction. Keeping these three as the cornerstones of your business will help you succeed.
No comments:
Post a Comment