Hello, I’m Omar Osman, Chairman & Founder of TAC UNIVERSE. Today I want to talk about an important word that I’m really interested in, “VALUE”. You’re always looking for ways to “do more with less” and “work smarter not harder.” Fortunately, in this day and age, there are many ways to drive more value and business innovation without excess cost. Growth is the easy part. Retaining it, and making it profitable, is the real challenge for any business.
Here are 5 tips to maximize value for your business
- Develop a strong, stable management team A business with a strong management team, allowing for key activities to operate independent of the owner, will command a higher price. The depth and stability of the management team are extremely important factors. A powerful and successful company operates best and with the most longevity when employees work with a team mentality, each filling a needed role and fulfilling long-term goals.
- Build Brand and Reputation The stronger and more recognizable your brand, the more valuable it is. It goes back to prospect perceptions, supply, and demand. This is why it is so important to invest resources in your own company’s marketing and thought leadership. Commit to content generation, social media, and traditional networking.
- Develop systems and procedures The beauty of creating systems is they allow your business to run like a well-oiled machine while making it more streamlined, more productive, and ultimately, more profitable. When a huge portion of your business is running smoothly, with less supervision, you can step back and let the systems do the work for you, thereby making you a smarter business owner. Collaboration tools make it easier for your teams and remote contractors to work together, so you can deliver projects faster successfully. These days, many business tools operate “in the cloud”: you access them via the internet and store to manage your information on the cloud.
- Stop Expending Energy That Doesn’t Add Value You can’t do every single thing. So, focus on identifying things you’re doing now that aren’t worth your time and money. Stopping those frees, allocate more business resources for what matters. Beyond obvious timewasters like low-priority email, look for resource wastage specific to your business—for example, products you’re still tracking and inventorying but that no longer sell. Productivity is about energy management: you have enough energy to do the work you want to do and to build the things that are important to you.
- Provide Performance The job of any marketer is to drive leads and sales. Therefore, the best way to add value is to have a direct, and measurable, impact on your clients’ bottom lines. It’s much easier to sell services when the costs can be justified based on new leads, customers, and revenue achieved as a result. Data is the world’s most valuable resource. Data, to this century, is what oil was to the last one.
To sum it up Drive more business value and innovation, refocus scarce resources on higher-value activities, automate whatever you can, and use tools like business charge or credit cards to get more leverage from your spending. Tags: brand, Business, Business development, Business Management, Business value, Communication, Communication skills, Company, Corporate, customer experience, Data, Management team, Marketer, marketing tips, Organizations, Performance, Startup, System, Tips