As an entrepreneur, probably you want to improve your business. Improvement is an everyday job for all of us, as human beings, but also as entrepreneurs. Without improvements, you can’t expect to succeed in your entrepreneurial journey.
So, you already know that you need to work on a regular basis to improve your business and now is the right time to start doing something about this.
Here I would like to share five ideas that you can use to discover possible areas ready for improvements in order to help you to improve your business, or you can simply use some of the ideas and action steps covered in 77 business improvements in 77 days.
1. Look at Your Business Model
Your business model is the fundamental part where you can find possible areas for improvements. Ask questions about the competition, about customers, about the value that your business offer, about customer’s relationships, business activities, and business resources.
Your business model is something that can easily in one picture explain how your company creates, distributes and communicates a value with your customers.
You can read more about the business model as an improvement tool.
2. Look at Your Business Plan
The business plan at the same time can be a tool for initiating improvements and the subject that will need improvements. Look at your business plan and compare actual achieving and everything that was planned to be achieved.
Everywhere where are big differences it is a good sign that you must change something and improve.
3. Look in all your business processes
Your business processes are good starting areas that will always give you possibilities for improvements. They always can be better today than yesterday, or tomorrow than today. So, look at all of your business processes and try to find problems, “bottlenecks” or everything that can be better in one or other way.
As a starting point, it will be good to look at your marketing process, sales process, production process, recruitment process…
4. Look at your history data
Historical data is a good place to start discovering trends and possible areas for improvements. Look at your sales data, or at your cost’s data, or at everything that is in some form stored in your company. You can find many things that simply can be used to improve your business.
5. Look at your pricing strategy
And last, but not the final place for possible improvement is your pricing strategy. Ask yourself following questions:
- Is the pricing strategy I am using now allow my business to cover all costs and provide enough profit?
- What pricing strategy is used from my main competitors?
- How can I increase profitability of my business?
These are only five places that can help you in starting to find possible areas for improvements, but they are not the only one. Everywhere you think that you can make something is worth looking.
So, start improving your business today!