Business leaders spend a considerable amount of time focused on making the right decisions for the business. This may include writing the proper business plan, executing on strategies for new products, selecting technology to support customer service and trying to get ahead of the competition. With so much going on, it’s easy to overlook those things that really lend to the success of the business.
Solutions from business VoIP providers like Nextiva can go a long way toward business success, but they don’t assist in avoiding certain pitfalls. The company’s blog recently featured four self-imposed pitfalls that can easily be avoided with just a little effort. Let’s take a look at the company’s insight and how you can sidestep these traps.
Failing to Acknowledge the Loyal Customer – it’s easy to go with the flow and take the loyal customer for granted. Even business VoIP providers can fall into this trap, believing the service they deliver is enough to ensure satisfaction. Too often offers are put out for first-time customers only and the loyal patron is left out in the cold. The key here is to put a strategy in place to attract those coveted new customers without alienating those already in place.
Ignoring the Numbers – business owners often love what they do and focus on it to the point that they forget to examine the bottom line. It’s easy to get caught up in the excitement of the race, but without a clear understanding of the financials of the business, a disaster could be waiting in the wings. Every business leader needs to know the finances in and out. If it’s beyond their capability or time availability to manage it, a trusted advisor should be brought in to do so.
Trying to Recreate the Wheel – in the race for dominance, it’s easy to ignore the tried and true consistency that got the business to the forefront in the first place. Consistency allows for streamlined and efficient business processes. This not only allows for lower cost, it also creates an environment where measurements provide a true picture of current success and future challenges. Clear systems in place also ensure leadership can focus on innovation and opportunities as those supporting them know how to follow protocol.
Pricing Too Low – customers always want a good deal and it’s tempting to offer the bottom dollar just to get the contract. When a business only competes on price, it dilutes the value of the service it brings to the market. The best approach is to sell on value. Otherwise, the business will only attract those clients who are quick to jump ship on a competitor deal. The goal is to attract loyal customers who place a high value on the service.
By understanding that these pitfalls exist and what they can mean for a business, you’ll be much better positioned to avoid them and focus only on driving success.
Edited by Rachel Ramsey