10 Ways to Level Up Your Operations in 2023
Improving operations within your business is not a one-time event. Yes, you may have certain processes that you find simply work best for your company, but if these processes are not continually assessed, you’ll eventually find yourself falling behind in many ways. Both trends and technologies are continuously evolving, and it’s important, should you wish to remain relevant, that your business evolve alongside them. So how can you level up your operations for 2023? Follow these 10 steps below!
1. Measure Performance
Oftentimes, business looks good from the outside, which makes it tempting to continue forward as is until an obvious issue arises. However, it’s important to consistently monitor your business progress by looking deeper within. There could be certain aspects of your business goals that are being neglected, or perhaps you have unintentionally strayed in the opposite direction of your goals. The more often you measure performance, the easier it will be to get back on track.
Measuring your business performance will reveal both strengths and weaknesses, so don’t think of it as simply finding the problems. It can also leave you with reason to celebrate as you see yourself moving closer to your goals.
The first thing you want to do when measuring business performance is review your business goals. Bring to the forefront your mission, vision, and values, or what you hope to achieve, where you want to go, and what you want the business to become. Take the time to dive deep and compare where you are at with where you had hoped to be. Are you on track? What’s working and what isn’t? Analyze the results and identify the most effective strategies for reaching your goals moving forward.
2. Establish KPI’s
Key performance indicators are quantifiable metrics used to better assess the overall progress and performance of your business in relation to the goals and objectives you have set. A few areas you will want KPI are financials, customer-relations, and operations. Be specific in terms of what you measure and use language that translates easily to employees so they can assess progress as well.
3. Streamline Processes
Improve the weak spots in your business processes. Poor processes could be wasting both time and money. We always recommend a good product management system to help with workflow.
Forbes Online Magazine suggests a productivity “hack” for business owners. The 60/20/20 rule. Spend 60% of your time on tasks that add value to your business or cannot be done by others, 20% on planning, and 20% on strategizing. If you find your percentages are off, outsource or automate what you can to create more time to work on the business rather than in the business.
4. Embrace New Business Tech
Business technology is constantly improving. Make use of it! Do some research today to determine where you can upgrade your automation/accounting software, productivity apps, data security software, and CRM tools. What you’re currently using might feel comfortable and easy, but taking the time to switch to a more comprehensive software could save you time and hassle in the long run.
5. Analyze and Understand Current Trends
Business trends are ever evolving, and customer needs are always changing. Review market research to help reveal trends you may be missing out on. Keep a finger on the pulse of what clientele in your industry are looking for and be flexible when it comes to adapting to these changing needs. This is not to say that your business should cater to all needs but find the ones that fit within your mission and make it happen.
6. Explore New Markets
Mentioned earlier, market research will also show you where your competitors are shining, and it can reveal areas where you aren’t currently offering products.
Work hard to develop meaningful professional connections; ask questions and share knowledge. You don’t have to be an expert in all areas, but always focus on adding value at every available opportunity. In an article found under Indeed’s Career Guide, they walk us through 14 Reasons To Start Your Network, among which we find the benefit of becoming a visible and supportive member of your profession.
8. Cultivate Existing Customer Relations
Ensure you are investing meaningful time into your customer relationships in order to build and maintain trust. This can be overlooked easily, especially when business is good, but you must have your customers’ support to sustain you through the rough times too.
Look for new ways to reach and connect with customers, such as social media, Shopify, Google My Business pages, email campaigns. Use social media to get your name out, and build connections and brand awareness, not necessarily as a sales platform. When it comes to online marketing, don’t skip out on branding – defining the mission and vision of the brand is essential for reaching the right audience.
9. Find New Ways to Build and Invest Into Your Team
Use tools like Strengths Finder, Myers-Briggs, or Working Genius to better understand your team members, and develop self-awareness at each level of your organization. The information gleaned from these tools will offer insight into how the people on your team think, what motivates them, and what area of work they will excel in.
Create an atmosphere of growth by offering your team opportunities to learn and improve their skillsets. Be sure to lead by example too! Strong leaders are constantly learning and improving and seeing this is what will motivate your team to follow suit.
Use goal setting to push you and your team forward. These can be daily, weekly, or monthly goals. In Pat Lencioni’s book, The Three Signs of a Miserable Job, he gives examples of daily goal setting that are as simple as a customer service rep making X number of employees smile per day. Allowing your team to take part in setting these goals is a great way to make sure they understand the importance of their role and how it plays into the bigger picture – the mission, vision, and values of the company – which will motivate them to rise to reach them.
10. Sign Up for One of Our Courses!
Level up your skills by participating in one of our courses: