The future can look bleak for many businesses, until they put in place plans that will ensure, not just their survival, but that they thrive. But what can businesses do to adapt to the future market?
Set A Foundation For Success
Strong foundations are the key to future success. By taking the time to establish agency goals and business objectives, independent agents competing in todays commoditised market can greatly benefit. More than 80% of small business owners tend to not track their company’s goals: research suggests that setting concrete goals, documenting them and recording the results will increase a businesses chance of survival by 95%.
With goals and objectives clearly outlined, a business must decide whether their current technological systems are capable of supporting these goals. Do staff have the tools they require to actually be productive and reach the goals that the business has set for them? Having the right technology in place helps support your business achieve its goals, so it is important to have the right technology, but to also make sure that the technology is implemented correctly, and that staff are prepared to utilise it.
Upgrading your technology to meet demands only works if your staff are capable of using that technology. You should always be sure that you have the staff that are capable of helping your business achieve its goals. When you consider bringing in new staff, it is important to weigh up the costs associated with new hires. New staff will take time to become prepared and become fully productive and successful. Research suggests that it takes at least five months for the average new hire to reach full productivity. Bringing in new staff will help you reach targets and your ultimate goals, but they will be part of the solid foundation for future success, rather than immediate change.
Your properties are the final piece of the puzzle. If they don’t work for both your staff and your customers, then it won’t work at all. Make sure you are accessible if necessary, including disabled access through disabled lifts that are maintained regularly and are inspected regularly by lift modernisation companies. If you have a warehouse, ensure it is functioning effectively to be able to process the workload required.