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Don't sit back - or you'll pay the price

The sun is shining, and the economy is brightening up too ... but Shropshire companies that choose to rest on their laurels in the improving business climate could be asking for trouble.  

Dyke Yaxley Director, Mark Bramall says “It is very important to grow your business while the sun shines, but it’s equally important to remember the need to adapt to new circumstances at times like these.  With new information coming out of Government all the time, and a constantly changing economic environment, companies often have to significantly change their plans.

“And sitting down for a re-evaluation of your company’s aims, objectives and methods – involving your staff in the decision-making process – is never a bad thing.”

Mark said: “Consider whether your customer base is changing, and ask yourself whether you are still focusing on their needs. Be ambitious and think outside the box, but don’t overstretch yourself trying to be all things to all people. Focusing on efficiency is more important than expansion sometimes.

“All too often, we see businesses which try to reach for the stars and charge off on a growth plan without firm foundations. The best businesses aim for quality only where they know they can deliver it. And they are aware that branching out can only happen when you have a team which is strong enough to support it.”

He said: “If you operate in a particular sector, ask yourself if there are any additional services that you could cross-sell. Guide the business in that direction, and you could eventually become a one-stop-shop for your customers.

“Every manager knows customer service is the root of a healthy business, and employees who also understand this will help you succeed. Loyalty schemes and excellent communication are good starting points.

“Never forget that the best advert for your business is a happy customer. Getting referrals is an inexpensive way to expand your client base, and requesting them from a loyal client will not cost you anything either.”

Mark said it was important to remember that business growth is a process of change.

“Expect to make mistakes and learn from them – improving quality and making the next stage of your business development better than the last.

“Stay relevant with new computer programs, innovations and processes, and strip away the obsolete. And remember that embracing digital communication methods, such as online advertising and social media, can be a cheap and simple way to promote your business.

“Results may take time and effort, but we firmly believe that a polished web presence is necessary for companies of every size that wish to succeed. Talking to a professional advisor is the best way to a bright future, but there are very simple steps you can take to maximise your chances of growth and reap the benefits of a healthy business.”

Mark Bramall, Director