Well, that is no longer a figure of speech. Unfortunately, we are talking about the next 15 years of your business. And if you are planning for that in 2021, you have a lot of business ahead of you. More on that later.
Lack of innovation and process change hurt the tobacco industry in general, and Philip Morris USA in particular. But what if you are tobacco-industry-specific? What if your business is really important to the United States and to your customers? What if you care? If so, there is only one thing to do to change this trajectory of decline: You need to change.
Optimize Different Processes
In order to adapt to the strong competition that your business likely faces in today’s market, you will need to enhance productivity levels and overall business proficiency. The need to enhance the mechanics of your business can be simplified through the streamlining, optimization, and automation of the various daily processes involved. You could start by maintaining a fully digitized electronic point of sale, also known as an epos system for restaurant, or any other business that you might be running. This helps you consolidate your cash flows and reduces the risks or errors when taken care of manually.
You could also optimize and automate other departments of your business through software integration, which can streamline different processes, enhance scalability, and boost productivity levels. It also enhances your sales potential, thereby allowing you to offer more customer-oriented approaches to your target audience. A few of these software may see the likes of inventory, project, accounting, and employee management software.
Introduce Ancillary Ventures
To turn your business around and revitalize its success, one strategic approach to consider is introducing ancillary business ventures. These supplementary endeavors can provide new streams of revenue and diversify your business portfolio. For instance, if you run a retail establishment, collaborating with a holiday wholesale items supplier could allow you to expand your product offerings during the festive seasons, attracting a broader customer base and increasing sales. By carefully selecting and integrating these ancillary ventures, you can inject fresh energy into your business and open up new growth opportunities.
Eliminate Process Failure
Of course, that change is not likely to come about easily, and it is not likely to come at all if you do not feel the urgency of this threat to your business. Every effort you make to improve the way you operate only increases the pressure on your system. Why? Because by improving the process, you actually make it more difficult for people to fail. Why? Because the more you try to help people deliver things to customers, the more employees need to try out these new ways of doing things in order to deliver.
Process failure can plague any sort of business. We talked about the tobacco industry before, so let’s consider an adjacent industry now – cannabis. Many of these labs face a decrease in quality or some other type of process failure due to poor adaptability. But nowadays, there are solutions out there such as using a dry sift kief tumbler to get to a better end product significantly faster, and with less labor. That’s a way to use better equipment to eliminate process failure. Similarly, by finding solutions to optimize the process and make the end product better, businesses can improve themselves.
“You just need to step back and imagine how you are going to be able to succeed for the next 10 to 15 years of your business’s existence if you continue to operate in a manner similar to what has been occurring.”
Upgrade Your Sales Team
Start with the assumption that process improvement is a gift to everyone in your company. You need only to do one thing to make this so: Ask. Ask people what they need, and then help them to solve that problem. At the start of this process, many people will have an overwhelming level of pressure on them to do things differently. But you just need to step back and imagine how you are going to be able to succeed for the next 10 to 15 years of your business’s existence if you continue to operate in a manner similar to what you are doing today?
CulverCareers is a sales recruitment agency which can take care of the sales recruitment, freeing up your core technical staff to focus on the core operations of your offering.
In short, this is exactly how you are doing it today. Think about this. You are in the tobacco industry and you are struggling to make yourself relevant and to be able to make things happen, yet you are not pushing yourself to do the things you need to do to improve the way you operate. Don’t think that has not occurred to you, because it has. Now you need to acknowledge that and decide to do something different.
Deliver Value to Customers
We like to tell people that there are two kinds of companies: Those that deliver value to customers and are successful and those that do not. All companies that are really successful – whether it is your sales department or a marketing agency or your commercial department – should be focused on providing value to customers. Why do you think Apple and Microsoft, Netflix, and Starbucks are so successful? Their value is delivering things to customers. In fact, their primary purpose is to deliver value to customers. And guess what? You can follow this path to success, too.