2. For a business to survive in any market, it
must maintain an advantage over its
competitors. The most effective method to
achieve and maintain a sustainable
advantage is often the most overlooked
method. Optimizing business operations can
play a pivotal role in edging a business
ahead of the competition.
3. Maintain Consistent
Quality
Whether a business provides a service or product,
quality must be maintained while optimizing business
operations. However, maintaining quality and
decreasing waste is an effective method to improve
business operations in itself. As referenced by The
National Center for the Middle Market, reducing waste
by reworking and reusing physical products, as well as
refocusing wasted time in service-based businesses,
can support significant growth for a business.
4. Improve and Utilize
Technology
Business processes develop over time, and because of
this, most business processes do not adapt to new
technologies very quickly. For this reason, leveraging
existing and new technologies can boost a business
ahead of its competitors. These technologies consist of
automated emailing, newsletter creation, automated
client reporting and dashboards, and customer
relationship management (CRM) software and
integrations.
5. Improve Customer
Care
Most businesses, including large corporations, boast of
their customer-centric philosophies, but do these
businesses really put their customers first? Emphasizing
great customer service sounds appealing, but actually
providing dynamic and personalized customer service
can not only improve business operations, but
contribute to the growth of a business. Customers are
the reason for a business’ success, and making them
happy will contribute to a thriving business environment.
6. About
Edmund Lazarus
Edmund Lazarus is a driven and experienced
professional in the private equity industry. He is
Managing Partner of EMK Capital an
international private equity investment firm
based in London.