You’ve set up your business, but now you have plateaued and need to figure out where to go next. Do you want to grow? Do you want to change direction? It’s a tough one to call and something that every entrepreneur comes up against. The thing is, that the person in the best position to make that kind of call is, well, you.
So, what can you do to get some hints about where your business could be going?
Look at the Data
The whole world is run on data analysis these days and your business is no different. You should have plenty of data at your fingertips from your website alone, but you might also have customer questionnaires, spending patterns and accounts to look through too.
If this is already starting to feel like a challenge too far, Cloudstream Partners will certainly be able to help you out. They are data specialists who provide consultancy and training so that you can look at your data with clear vision and see what it is pointing to.
Ask Your Staff
The people who come to work for you everyday will probably have some great ideas of their own about where the business should be heading. This might include areas in which they would like to develop professionally to enhance their own CVs or it might be that they already have alternative skill sets that could complement the current model.
Including your staff in these kinds of decisions can feel a bit risky, but you are in charge and there is no obligation to accept every idea good and bad. Give your staff the opportunity to be heard with a creative meeting and then see where the ideas go before you pick anything up.
Invest in New Technology
One of the reasons that businesses get stuck is that they quickly reach their working capacity. The best way to give you and your staff more time to be creative and do more is to invest in time-saving technology to automate some of your services and streamline results.
Lots of new technologies have been created that are actually better at doing our jobs than we are and AI is certainly on the right road to take over the world of work. This sounds bad but actually it’s great news. It will allow you to skew your business so that you spend more time communicating with your client and less time trying to solve problems. This will give you better client relations and hopefully more time to pitch to other potential clients too.
It might take some time and a bit of experimentation, but if you are determined to take your business to new heights, then these three ideas should help to get you out of your rut. Make sure you listen to lots of different ideas and look to your data for support. If the data suggests a change in direction to pick up on a new area of business, trust your instinct and go for it!