Stagnancy is not something you want near your business.
When you are a new business owner, you have an energy and enthusiasm level that is hard for anyone else to match. You are excited about your new adventure and have tons of plans and projects you can’t wait to dive into.
But after the shiny wears off, what you are left with is lots of work and demands on your time. As a result, it’s easy to get caught up in the day-to-day responsibilities and not recognize when your business ceases to thrive and grow.
Fortunately, you can take measures to keep your business from becoming stagnant.
1. Set new goals
A good way to keep your business from becoming stagnant is to set new goals. If you created a goals list the year before, look it over and determine how many of them you met.
Are there some you need to carry over to your new goals list? If not, remove them along with those that have already been met.
Add your new goals to those that you are carrying over. This list should be reviewed at least once per month to ensure you are making progress.
2. Change your website
When you feel that your business is not growing you may need to make some updates to your website. Look it over to make sure everything is accurate and well written.
Remember, it doesn’t have to be complicated. It’s far better to have a simple website that is easy to read and navigate for your customers.
Make sure your site is mobile friendly. Many people, about half of all internet users, in fact, use their phones when they search or shop. If your site is not cell phone friendly you could be losing business.
3. Add new products or services
Sometimes one of the easiest ways to keep your business from becoming stagnant is to add new products or services. Doing this one simple thing can increase growth and profit margins.
If you aren’t sure what to add to your business to enhance it, why not ask your customers? They can be an invaluable resource to help you determine what more you could be doing in your business.
4. Survey your customers
When you need to know what your customers think about your business, create a survey and request that they send it back. To ensure they complete it, pair it with a sale in which you draw completed surveys for a prize.
Finding out what customers want assists you with providing it to them and taking your business to the next level.
5. Host an event
Rather than having the same old sales events every year, change things up. Host an event where you have a guest speaker who demonstrates a new product you carry.
Or, hold a one-of-a-kind sale to celebrate your business’ birthday, for example. There’s no limit to the ideas you can come up with to hold a special event.
If your business is primarily online, have a guest speaker create a video you can post on your website. Do some social media marketing ahead of time and you will likely get some increased web traffic.
As a business owner, our time is valuable. Make the most of it by making good changes to keep your business from becoming stagnant.