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What Your Business Needs To Do To Survive in 2018

Being successful in business today requires that companies build upon what they know to constantly improve and stay one step ahead of their competition. Regardless of the size of your business, everyone should be working toward improvements on a consistent basis.

Things have changed, especially with the advent of online tools and platforms, and there are many ways to get the job done. As we closeout 2017, focus on avoiding business bankruptcy and keep working to improve your business and you’ll reap the benefits in no time at all.

Respond Truthfully to Customers ASAP

Customers expect to receive an answer as soon as possible and sometimes even faster than you might think. If your customers are happy, you are developing a good reputation. If you have unhappy customers, you are developing a bad reputation and likely twice as fast.

Maybe you have a number of negative reviews, and if so your bottom line will be hit because new customers aren’t going to trust your business. Responding to customers right away, especially on social media, enhances your online reputation and is an absolute must for any company.

Reduce Interruptions at Work

If your staff spends a lot of time doing work on a computer, they might be distracted frequently enough throughout the workday. You could be contributing if you send a large number of emails every day or initiate chats through various online communication platforms. Part of your job is to make sure employees have enough time to get on their to-do list.

While this might not be true for every one of your employees, be aware that everyone works differently and needs an appropriate amount of time to complete all of their work. To be less of a distraction, you can schedule meetings or take advantage of breaks to hold conversations.

Automate What You Can

Automation is the name of the game and companies that harness the power of technology will win out over the competition. By automating tasks of employee jobs when possible, companies can save money. In addition to the cost-savings, work gets done must fast and more efficiently without any human mistakes.

If your company sends a lot of invoices every month, you’ll find that AP automation software increases efficiency and accuracy. If your management team is overwhelmed by project details, consider using software that tracks projects from start to finish. Incorporating such systems frees up time for your staff to focus on things that improve the business instead of barely being able to complete the things that are absolutely necessary.

Automation doesn’t mean that you replace every employee with a computer. It means you give your employees the tools to automate what can be automated so they can stay productive and move forward.

Protect & Backup Your Data

For many companies these days, data is an important asset. As a result, your data needs to protected at all times and backed up on a regular schedule in case recovery is needed. At the very least, you should be making sure your valuable customer information is protected and backed-up.

Even if your company is not in a technology or software industry, you still need to backup your data. This is often overlooked by small businesses and a growing pain as they expand. The bigger the business, the bigger the risk of data loss. That’s why you should choose a storage solution and a DraaS that can expand to meet your needs as your business grows.

Keep Your Employees in the Loop

Innovations in technology benefit employees in more ways than they can imagine. Your employees can learn on the job and increase their productivity with more time devoted to their job. Employees need to know what’s going on if they are to feel motivated and confident in their job.

Most importantly, they want to be appreciated for the work they do and the only way to do that is to keep them up to speed on all relevant happenings. Happier employees work harder and your company benefits.

Empower Young Workers

The workforce is now filled with Millennials who are dedicated to their work and willing to take risks. Help the young members of your staff succeed by showing them everything you wish you would have known at their age. Don’t go easy on them either because they are hungry to learn more. Because millennials make up the majority of the population in the US, you are bound to have some on your staff.

They are the future of your company and you need to invest your time in helping Millennials succeed as leaders of your company.

Focus on Mental Health

Not a lot of people know this, but mental health conditions, just as any physical condition, can land someone on disability, especially if being overworked or being stressed out at work is the cause.

Employers who focus on their employees’ well-being are usually able to keep quality people on board. It’s important to focus on mental health and create an environment where workers are happy to go every day and be the product. If you’re not doing that, you’re missing out on an easy win.  

Embrace Innovations in Technology

Making sure your business is sustainable enough to last long into the future is a process that takes time. Workflow automation can reduce costs over the long run because you won’t need to hire staff to complete small, unskilled tasks and everything gets done more quickly. When you start producing the same results or better in much less time, you’ll enjoy an endless amount of benefits.

Some other advantages of automation include decreased payroll expenses, lower utility bills and a boost in productivity. Innovative technology allows you to harness your resources and stay competitive on an international scale. It’s better to embrace the change and take advantage of the technology than avoid it altogether.

About the author

Susan Ranford

Susan Ranford is a freelance writer who focuses on business, tech, and careers. She's experienced in career tips, business advice, and job search secrets.