Have you been feeling like your business just isn’t quite reaching the heights you predicted? Things might be going relatively well, but there’s just something holding you back. As it happens, that something usually ends up being multiple different things. They all contribute in their own little way, and the result is that your company can’t get to where it deserves to be.
It’s hard to really nail down what’s holding you back as plenty of things can be contributing. But, if you look at some of the most common reasons below, then you’ll likely find the answers you’ve been searching for.
A Lack Of Productivity
So many entrepreneurs are undone by a severe lack of productivity in their business. Let me ask you this; what happens when a company isn’t as productive as it can be?
Basically, you don’t maximize your time, which means you end up getting less done every day. This could mean you don’t have the time to follow up on a lead, and you end up losing them as they take their interest elsewhere. It could mean you don’t respond to customers quickly enough, leading to a decline in satisfaction, which damages your reputation and can result in negative reviews.
Of course, it’s hard to run a genuinely productive business, but there are ways you can help. The easiest idea – which requires minimal effort on your behalf – is automation. As you can see from this SAP insiders guide, there’s software out there that small businesses can use to automate lots of different processes across the board.
This saves an awful lot of time, which contributes to the productivity of your company. Another idea is ensuring your workplace is designed to encourage productivity, and you should also review your hiring policy to make sure you’re bringing the right people on-board.
No Clear Uniqueness
Here’s the thing about being unique; it’s not essential if you want to open a business. Walk up and down your local high street or take a look online, and you’ll find dozens of companies that all offer the same thing. For the most part, you will still enjoy a fair amount of success if there’s no clear uniqueness about your company. But, we’re talking about things that are holding you back, and this is definitely one of them.
Yes, you’ll get customers, but how do you ensure that you keep finding new ones and take them away from your rivals? It’s only possible if you clearly offer something unique to them. The great thing about business is that this can relate to almost anything.
Unique customer loyalty perks, a special customer service method that no-one else has, a unique product/service, and so on. If there’s nothing about your company that really differentiates you from the competition, then you’re always going to plateau at some point.
There are lots of small businesses that do fairly well for themselves but have a below-par marketing strategy. To me, this is so painful. If you’re already successful without a good marketing strategy, then imagine what you can achieve with one in place!
Marketing is the key to promoting your company and raising awareness. If you think your business is being held back, then it could well be down to this. A good indication of lackluster marketing is to turn your attention online. What’s your digital presence like? Do you have any of the following:
- A modern website that’s regularly updated
- A good search ranking for keywords relating to your company – preferably in the top ten results
- Active social media accounts
If you’re answering no to each of these things, then your marketing campaign is poor. Work on improving your online presence by getting all of the things on this list. In essence, they help spread the word to a broader audience and ensure more people know you exist. This opens the door for new customers to find you, which helps you make more sales.
The interesting thing about marketing is that it’s ever-changing. So, if you had a great strategy when you first started your business, that doesn’t mean it’s still effective right now. A lot of companies are held back because they forget to alter their marketing strategy to see continued success!
When your business is being held back, two things can happen. You either let it get dragged down into the dirt or you free it from the shackles and achieve what you envisioned when you started it. Most likely, your stunted progress is down to one (or all) of these things. Work on improving them, and you’ll see the success you deserve.