It’s easy to forget in the day-to-day running of a company that reflection really does matter. Evaluating and analysing trends in your business, including staff absences, customer complaints and profit and loss really will help make your business better. However, SME’s don’t always have the time and manpower to constantly review what’s going on in their business, only noticing something is up when things start to go wrong. However, analysing positive trends is important too. How else can you better tailor your products or services towards the market, enabling you to take advantage of customers’ current needs? With all this in mind, we take a look at the 3 signs you should never ignore when it comes to your business, along with a few suggestions of how to improve.
- Your customers start to order less
This is not necessarily a reflection on your business itself, as depending on the market you’re in; there may be a very good reason for a downturn in business. A recession, or seasonal changes in your order book that on reflection happen every year shouldn’t cause you too much worry, but you should be thinking about ways to offer more, or different products and services during this time. The warning flags should, however, go up if your customers are not as lively as usual, and there are no market reasons for this. Do your homework, give them a friendly call, and ask them how they’re doing. Being in close communication with your clients at all times should enable them to feel they can talk to you, and they may be candid about the reasons for their orders dwindling away. Speaking to them before they become an ex-customer to see if you’re able to help them through a hard time, or offer them alternatives if they’re not happy with the current products/services you offer may well be the thing that keeps them away from the competition.
- Demand is high
The reason you should evaluate when business is booming is to ensure you don’t follow a boom with a bust. When demand increases, so do your staff’s stress levels, and if they’re pushed for time, the service standard may drop. Carefully evaluating and navigating your workforce through a jump in demand will ensure they feel you’re on their side, and will also result in a better standard of service to your customers. You can also use this analysis to ensure that you’re capitalising on the high demand, by looking at why this is the trend and what you’re doing right. Then- do more of it!
- Staff morale is low
Are you seeing a lot of staff absences? Sloppy work? The same mistakes over and over again? There may be several reasons for this, and careful analysis is needed to weed out the root of any staff problems. Your staff make your business what it is, so you must consider the workforce you have as an important factor. Don’t jump straight in with blame for recurrent mistakes – there may be an extra process you can put in place that will stop this mistake happening again, and will empower your staff to feel like you’re helping, not blaming them.
It’s never easy to analyse a business when you’re busy, but here’s where Synergos come in. From ISO accreditation, to a quality management system that will bring many benefits besides improved profit, we can help you look carefully at the things that matter to your business, and help make them better too.
Contact us to find out more about our Management Services on 01484 817444, email email@example.com or visit our website www.synergosconsultancy.co.uk . We look forward to hearing from you!