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Shaking Things Up: Stopping Business Stagnation

Many businesses get too comfortable with their practices and their routines. But the business world is a place of change and competition. If you don’t keep up with them, you might lose the edge you need to stay in the top spot. If you want to keep things fresh in your business, there are times when you need to shake things up. Here are some things that you can do to give your business a fresh perspective.

Get Some Fresh Eyes

One of the best things you can do to make things fresh for your business is to bring in someone new. Many companies hire a new manager or get a consultant to evaluate to see how things are done. For example, a fractional CMO for digital marketing can give you an idea of whether your marketing team is doing well in that department. A new person provides you with a new perspective without any bias. Many employees, especially those who have been around for some time, develop blind spots about their coworkers’ efforts. Having an outsider evaluate things can make it easier to detect any current problems.

Update Your Technology

Many companies pick up a favorite technology and work with it until they become masters at it. For example, maybe your company favors a particular piece of equipment. Your people know it inside and out. But the problem is technologies change and develop over time. Your equipment can get outdated and obsolete. If you want to stay competitive, you’ll need to know when it is time for an upgrade. This will be sure to shake things up as your employees try to learn more about their new tools.

You might be tempted not to upgrade, but you will have a good chance of losing money. Newer technologies and equipment often perform much better and more efficiently than their older counterparts. Keeping old technology running can also cost higher maintenance bills as you need obsolete parts or specialized experts. It is better to upgrade everything so that your company is as its best.

Start Fresh

If you are a company looking to break into a new market or further expand into one, it is always a good idea to start fresh. If you have an established or well-known product, it is tempting to use that as a basis for future products. But that ties you down to a particular design or idea. If you want to create something new for a particular demographic, then it is better to start without any preconceptions or old baggage from other products. This can allow you to have a unique approach to a particular market and help you dominate the market.

For example, when Apple was creating its initial iPods, the company was coming into the market of MP3 players. They completely redefined the market instead of following the trend of other companies. Nowadays, the Apple store has become a major source of revenue for the company.

Allow Innovation

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One of the interesting things that Google does is allowing their employees a chance to do their work and potentially allow them to become Google projects on their own. Giving your employees the chance to develop their projects is a great way to allow your people to spread their wings. Allowing this is a gamble, but the results are hard to deny. Besides creating new offerings, allowing this creative freedom also provides your employees with a morale boost. They will have more motivation to work at your company.

Listen To The Customers

Customers are your major source of feedback when it comes to performance. It is always a good idea to use them as the basis for your changes. To make this happen, you will need to have a way to connect and engage with your customers. Having a social media page is one idea. You can also send out regular surveys to ask them about what they feel about the company.

Customer insights can lead your company to new markets. A good example of how customers can direct companies into a gold mine is Netflix. The company started as a DVD rental company. But the customers wanted more convenience, so the company shifted to streaming. Now, the company is a media creator instead of only renting out movies. That is a massive shift, all thanks to the customers.

Competition is the very essence of business. Becoming too comfortable will leave your business vulnerable. Try to keep your business fresh with the changes above, and you will see a definite improvement in your operations.

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