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21st Century Small Business Trends Worth Following

In What You Need To Know About Small Business on June 14, 2019 at 2:25 pm

When you’re running a business, it’s easy to get caught up in the day-to-day demands the role encompasses. However, it’s important to take time to examine how the landscape is changing, and what 21st-century trends could be valuable for your business. Start-ups, enterprises and small businesses have been revolutionized in recent years, so it’s well worth considering the trends which could be right for your company.

Take an enterprising attitude

Social enterprises have risen considerably over the last decade, and many companies have benefited from incorporating a social consciousness into their branding. Whether you donate a percentage of profits to charitable causes, host events to raise money for disaster-stricken areas or encourage customers to foster social change, adding a social enterprise to your corporate structure could benefit your business, your local community, and your environment.

Be a trailblazer

Industries can evolve at an alarming rate, so businesses need to be at the front-line if they want to get ahead. Embrace new technologies, processes, and operations so that you can deliver increased value to your customers. With increased automation, for example, you can enhance your products and services, as well as reducing your company’s costs.

Build a network

Small businesses no longer have to struggle with the cost of hiring in-house workers. Using an outsourced service provider to access specialist skills, such as strategic IT consulting, means you have access to the expertise and experience you need, whenever you need it. By outsourcing your business needs, you can maintain a relatively small in-house staff, and save a significant amount in the process.

As well as reducing your wage bill, a smaller in-house team means smaller premises and less equipment to purchase and maintain. With considerable costs to be made, outsourcing can be a viable way of reducing your outgoings and getting access to a wide range of specialist service providers.

Engage with customers

The internet has given consumers the opportunity to voice their opinions to a much wider audience than ever before. Companies that offer consistently low value will soon be named and shamed online, so don’t be one of them.

Read your online reviews or search for your company name on social media, and take a look at what consumers are saying about your brand. By gaining an insight into what consumers think, you can make appropriate changes to your processes and improve the service you’re offering.

Furthermore, engaging with consumers when they discuss your brand online givens you a great opportunity to showcase your customer service skills. If a customer has publicized a negative brand experience, your response gives you the opportunity to rectify the situation effectively in front of the same audience. When done successfully, your response to the issue can promote trust and loyalty, so one customer’s negative experience can be turned into a chance to highlight your brand values.

As industries continue to develop and new technologies change the way we operate, embracing the latest trends could be an effective way to future-proof your business, increase turnover and build a loyal customer base.

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