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Any business has its ups and downs, but sometimes the lows seem to last longer than the highs. Getting stuck in a rut can feel like a drag as it hurts motivation and efficiency to all stakeholders, from leaders down to team members.
It can be especially damaging when it happens to a business as it means you are stagnant and not growing. There are internal and external factors that can bring your business down. Whatever they are, as an entrepreneur, you should know that your company can get back on track. It can be a slow process, but when done right, it will definitely ramp your business up and can propel it higher.
Here are ways you can revitalize your business when you feel like you are stuck in a rut.
Talk to Your Customers
A business’ performance and standing are always determined by its customers. If you want to get moving, reach out to your customers and grow your base. Make it a point to listen to them and make them feel involved and appreciated. Create a focus group to hear honest opinions of your business and opinions on the direction it should go.
Establish an online presence. Actively use social media to interact with customers and get their feedback. Scroll through some comments, tweets, chats and messages about your brand to hear what people are saying and what they like or dislike about your business. From here, you can determine which aspects of your business need improvement and strategize how you should operate and deliver products or services better.
Boost Your Marketing
Among the most effective ways to rebuild and strengthen your customer base is to revamp your marketing efforts. Modernize it and try to keep up with current marketing trends and strategies. Research on what’s on-trend and try to adapt and stay relevant. Use data and analytics to measure the impact your campaigns are making and see which ones are effective and which are not working.
Sometimes, you need to talk to people differently to draw in more attention. Consider creating a fun social media campaign to engage new clients or an email campaign to draw traffic to your website.
Marketing says a lot about your business, so find a creative way to stand out from the crowd and be unique.
Rebrand
An overhaul of your brand is not that bad of a thing. In fact, there are specific circumstances that make it just right to rebrand. This applies when your company identity becomes stale as it does not stand out in the market due to the number of competitors. Outdated designs and campaigns can also push your business down further, so it is ideal for updating things and breathing new life into your company.
Rebranding is a great wait to rejuvenate your business, as it gives people something to discover. Use this opportunity to improve your company identity. Strengthen your mission and values and make sure that you can convey this to customers.
There are also numerous alternative ways to rebrand, both big and small. You can use new colors for your brand, update your logo, launch some new or updated product and generate a new social media campaign. If you have the budget, try to renovate your store.
Update Your Website and Mobile Apps
Your website and mobile app say a lot about who you are as a business. It can draw people in with user-friendly, appealing features, or it can turn people away. As more and more businesses adopt digitalization and demand tech-powered services, do not get left out. Compete with a fast-performing website and a functional mobile app to keep your services available and accessible.
If you do not have an online presence yet, consider hiring a developer or having a DevOps team to help rejuvenate your website or mobile app. If you want a complete overhaul of all platforms, consider hiring Angular developers, as they are experts in making sure your website, web app, and mobile app will work altogether.
Update Processes
Perhaps you are in a rut because your work processes are outdated and not efficient or automated. You are missing out on many things if you are still using paper or a spreadsheet. Check your workflows and processes and see if they efficiently contribute to growing your business. Make your processes simple for your team with as much automation as possible.
According to the University of Oxford, happy employees are 13 percent more productive. This percentage can be what you need to pull your business out of the rut it is in. When your team no longer has to waste as much time following insufficient processes, they can be happier and can focus on other things like innovative practices or developing new creative ideas for your brand.
Inspire Your Team
It is not only your customers that can get bored or need something new to look forward to. Your team, who are the propellers of your business, can also get tired, unmotivated and uninspired at times. Make sure you consider their needs as well, and they are being heard and appreciated.
Offer learning opportunities or lecture series to inspire your team or allow them to engage in interesting or exciting activities. This may include team-building programs, innovation contests or even a simple incentivized way of asking for their suggestions or opinions.
You could also offer opportunities to work from home or flexible office hours so your team can travel and work from anywhere. Consider creating a system that incentives your team to try new things. Google encourages their team members to spend 20 percent of their time working on something they think will benefit Google.
It’s Time for Change
Changes and uncertainties can definitely be daunting. But in the business world, it is important to embrace change and innovation to make room for growth. If you feel stuck in a rut, it only means it’s time to get moving and shake things up a bit. Find aspects to improve and get your business back on track. Every step up and away from that rut you are in, no matter how small, is progress.
