Ten micro improvements | NatWest



 

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Add your signposting title here… Our top 10 tips for micro-improvements to your business

As a business owner, you should always be looking for ways to enhance how your company operates.

Small efficiencies can make a big difference in the long term, so it’s worth dedicating a bit of time now to make everything you do that bit more practical.

1 - Find out what your employees want

Is there something that could help your employees work more efficiently? Would they like more interdepartmental meetings, or more opportunities to work from home? Your employees are your most valuable asset, and by keeping them happy and engaged you stand the best chance of making your company a success.


Keeping your staff engaged

2 - Discover what your employees think

It only takes a couple of minutes to get ideas from employees, but those few minutes could transform how your business functions. Employees understand your company’s workings, and can identify things that work well, or areas that require improvement. Gather opinions, be they large or small, from your staff on a regular basis.

3 - Understand the competition

Take some time to see what your competitors are doing:
 

  • Have they introduced a product that you could use? 
  • Does their website have a feature that would enhance yours? 
  • Are they ignoring a part of the market, and if so could this be an opportunity for you? 

By knowing what your rivals are doing, you can adjust your goals to ensure you stay one step ahead.

4 - Identify potential risks

When a business is productive and things are ticking along nicely, it’s easy to miss – or ignore – threats that could be just around the corner.

By taking a detailed look at your sales, wider business trends, recent research and the opinions of consumers, you’ll be well placed to deal with situations that could otherwise be incredibly detrimental.

5 - Introduce daily meetings

These needn’t be particularly long, but getting an idea of what every member of your team is doing on a daily basis can be incredibly valuable. This will help each member of staff understand what's going on around them, and whether certain people are available for ad hoc tasks should they arise.

6 - Check your pricing

Are you offering a service that you could potentially charge more for? Or is there something you’re selling that could benefit from a price cut? Don’t be afraid to alter your prices if you can justify doing so. Also, if the changes don’t work after a trial period, then change them back - consider the price adjustment a test.

7 - Look to the future

It’s important that, from time to time, you take a step back and get an idea of where you want the business to be in the coming months and years. If you have certain objectives you want to achieve, are you on course to reach them? If you’re looking to move into a new market, or introduce a new product line, do you have the capacity to do it?

Looking ahead can help you refine your goals and give you some perspective.

8 - Make better use of social media

You can use social media to post interesting stories, promote your company blog, or get an understanding of what your audience values. On Twitter, for example, you could set up a poll to assess the views of your customers - this will give you a better appreciation of what they want, and could help you target people in a more effective way.

9 - Create a blog calendar

Blogs can be incredibly beneficial to a business, both in terms of search enegine value and also by enhancing your reputation as an industry expert.
 

By producing a blog calendar, you will be well placed to prepare articles that will appeal directly to your audience. This will also give you the opportunity to find people who want to write posts well in advance of the publication date. 

10 - Check your costs

Understand the costs that underpin your business:
 

  • Could you benefit from moving to a smaller office? 
  • Are you paying too much for a particular resource? 
  • Are there cuts that could be made? 

You may be able to save significant sums of money simply by streamlining your processes, so it’s a task well worth committing to.

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More hints and tips

Keeping your staff engaged

Managing cashflow

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