We are already on the 4th Step in Detail from our primer: 5 Simple Steps for a Chance in Business Success
There are many aspects to improving your business. Naturally people who are involved in the business and work closely with you will have some ideas on how to help improve it. As a business owner, you might overlook some things that these people will and have observed needs to be looked at. They are valuable to you as the business owner as the people working with you are not emotionally attached as you are and will see the problems subjectively.
A lot of employees have ideas on how to streamline processes as they do these works daily, they can make the workload lighter and make productivity in their workplace higher than it ever was. There are even employees who know more than what they’re hired for and sometimes we neglect to see the potential work they can also help with in your business.
It is always prudent to ask other Business People who have come before you; even new business owners can give you good inspiration. The best thing is when they give you ideas on how to overcome challenges and problems they have already solved that you are still about to face. Most business owners sympathize with your journey as they also had theirs. It is only when you ask though that they will lend you their wisdom.
Sole proprietors can even benefit from their business contacts, service providers and even your suppliers. They hold a lot of information on similar businesses such as yours, and this wealth of valuable knowledge may help leverage your business. You can start talking even with your accountant, financial advisor, legal advisor, suppliers, bank and even your bookkeeper. All of them offer a unique view of your business and these valuable insights on your industry, even your cost studies can be adjusted based on these. This goes as far as giving you insight on your target niche, market and advertising and marketing strategies.
Start a conversation with your stakeholders and employees. Between these wealth of brains, you will have information that can make or break your business!
Here are the previous steps if you missed them: