In
today’s competitive world, it’s very important to have a strong
grip over yourself – Be it personally or professionally.If you are
running or currently a part of a business and have to not only
sustain but also grow in the market, then the only way is your
conscience, persistence and adaptability to change.
Being
a business owner you definitely cannot be a “one man army” and
you need a pool of equally passionate team members to take your
business to the next level. This team performs a significant role in
envisioning and achieving the company goals & common objectives.
Be it excelling at what you are doing already or foreseeing the
bigger opportunities and threats coming your way, it’s imperative
to keep your contingency plan ready.
Let us understand a few key areas that any business should consider to think of! Either prior starting up a business or while running one. It’s never too late.
1 Competitive Analysis
Inspect
what the market is doing v/s what your goal is. Perform a thorough
business analysis of your current position in the market. Conduct
ample research and come up with a solid and detailed business plan
(sample).
If you’re not competitive yet, you’re not hustling enough. There is a market for everyone, you just need to present yourself well at the right time to the right people. Keep updating your techniques to make your business more advanced, creative and innovative along with multiple revenue channels.
If you’re not competitive yet, you’re not hustling enough. There is a market for everyone, you just need to present yourself well at the right time to the right people. Keep updating your techniques to make your business more advanced, creative and innovative along with multiple revenue channels.
Survival
of the fittest! You can be, if you’re active.
2 IT
IT
is an integral part of most of the companies to run their day-to-day
business. You must ensure that this sector is taken care of
meticulously. You could have an in-house IT team (could be expensive,
if you’re a startup/ bootstrapped) OR partner with a company
like Mobisoft
Infotech who
will guide you step by step, right from inception to the maintenance/
management of your services.
Technology
can either make you or break you.
3 Operations
Are
you overstaffed or understaffed? If you are not in either of these
situations, you’re doing fine. If not, then you must set proper
KPIs and reporting metrics to ensure you’re not keeping these
critical decisions to be made at the last moment.
Termination stage is not a good sign, alternatively hiring is. If you’re ramping up, it’s great and that means you are growing. Even though it may feel obvious but many companies fail due to not planning their operations well, and negligence in monitoring their employee delegates on time.
Termination stage is not a good sign, alternatively hiring is. If you’re ramping up, it’s great and that means you are growing. Even though it may feel obvious but many companies fail due to not planning their operations well, and negligence in monitoring their employee delegates on time.
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