#TuesdayTopTips Four ways to futureproof your business
UK businesses are faced with great uncertainty, from the impact of rapidly advancing technology on jobs, to a lack of clarity over Brexit. But businesses have survived — if not thrived — during periods of upheaval, so how can firms stay on track in the face of change?
Experts Jodie Cook, founder of JC Social Media; Judith Armstrong, chief executive of Millenium Point; Tony Hague, managing director of PP Control & Automation; and Phillip Inman, economics editor of the Observer, give their advice on how to steer a business through challenging times.
1. Don’t cut back on customer service
The concept of resilience is one about building longevity into a business. In a certain time when businesses are looking for what sets them apart, make it be excellent customer service — you must add value to your business. Lowest price is rarely a factor that will build any form of any resilience to any business.
It’s incredibly easy now for people to jump on the internet and tell the world about poor customer service, so don’t make it easy for them to do so!
2. An engaged workforce solves problems
Leaders sometimes don’t think about the human element of change. When problems arises, communication often only starts after the problem is solved and then it’s told as a lesson to be learnt for next time.
People don’t like to be told what to do so that’s why that fails. You should be discussing those problems and opportunities right from the start. You will get more feedback and engagement this way. This openness and honesty encourages trust across business.
Whole idea of a change for businesses is a difficult concept. You have to involve people, enthuse them, talk to them openly. High performing businesses have got a highly engaged workforce.
3. Invest in training existing staff
Too many companies have taken the wrong path in response to a downturn in the economy and uncertainty by building on unfeasibly high expectations of their employees because they’re not prepared to invest in people but really what they should be doing is thinking about how they’re training them.
Businesses should think about how they are going to train them and include them and build a culture in the business, how should we develop them so they stay with us. Lack of support causes a high turnover of staff who are dissatisfied with the way they work, which in turn creates a disjointed and dysfunctional workplace.
4. Be flexible and experiment
We often worry about factors that we can’t control. Unless a danger is clear and present right in front of you then thinking about these can often be a waste of time.
Experiment with new things. Always talk to other industries, experts, visit other companies and discover different ways of doing things. Then think; how can I implement this and how will it change my business or industry.
Companies of all sizes should have flexibility with ideas, even if the idea might not be working. It’s great to try something different even if it might not work.
