To keep your business relevant in 2018, staying up to date with emerging business trends is essential.
There are a number of strategies you can incorporate into your business model to ensure you are remaining at the top of the pack within your industry. Consider the following:
Online working environments
To allow your business the greatest opportunities to thrive, you need to be open to virtual teams. When you hire a team that live remotely, you are exposing your business to the most talented staff, rather than just hiring individuals because it is convenient. By allowing your employees to work in a virtual environment; communicating and collaborating remotely means you are also likely to save costs on setting up an office space with the latest technology.
Focus on wellbeing
Many businesses are taking note of the importance of employee wellbeing. There are a multitude of benefits that arise from staff feeling job satisfaction. If an individual’s place of work instills them with a sense of worth and purpose, they are more likely to thrive in the business setting. The happier employees are being part of the team, they are more likely to be productive and a strong asset to the business. Also, the longer you keep employees, the less money and resources you will lose on training and professional development.
If however an individual does not experience job satisfaction, their wellbeing can quickly diminish and this can impact on business profit. Ways to promote positive wellbeing amongst employees include:
- Bright workplace with lots of natural lighting, plants and stimulating visuals
- Opportunities for office socialising, including lunches, team days out or other team building opportunities.
- Generally, being a positive presence in the workplace will boost your employees’ wellbeing. If you are approachable, personable and friendly, your employees are more likely to experience heightened wellbeing and thus job satisfaction.
Automation has become more and more popular in the business climate and continues to grow in 2018. Automation frees up time and resources used to complete monotonous tasks associated with running a business, allowing employees to devote their attention to tasks vital for driving profit. Ways in which automation can be used to serve your business include:
- Scheduling social media posts
- Automating bookkeeping
- Data gathered through services such as Google Analytics detailing user interactions with the business’ online content
In today’s climate, customers will stay loyal to brands that go further than just selling a product or service. Your business needs to have an ‘it factor’, something unique your business is doing that speaks to the consumer on a personal level. Your point of difference will vary from other businesses depending on the industry you are a part of and the philosophy behind your business. Once you have decided what your ‘it factor’ is, you should use this to drive business through emphasising it in your marketing campaign. Examples of ways to set your business apart include:
- Links to specific charities where a percentage of the profit is donated
- Ethical products and product development
- Australian made and produced
- Handmade or personalised services
- Plastic and paraben free packaging