4 Successful Business Strategies That Will Surprise You

There are a number of successful business strategies you can use to grow your business. Not all of these suggestions are simple to implement, but if they’re done well, they will be extremely effective. So here are the 4 successful business strategies you should implement.

Successful Business Strategies
Photo Credit: Rasica

Focus on Marketing Yourself:

An amazing product or service that no-one knows about is doomed to failure. Conversely, even horrible products or services that are well-marketed can achieve high levels of success. As an example, you may have taken the Myers-Briggs Type Indicator (MBTI). From a psychological and statistical standpoint, it’s an unscientific test which scores lowly in reliability and validity. As mentioned in the previously-linked article, as many as 75% of test-takers achieved different results across their lives, and about 50% achieved different results within a 5-week time frame. Its lack of reliability and validity may have something to do with its creators: two housewives who, during World War II, took an interest in Carl Jung’s work and decided to create a test. Why, then, is the MBTI “the most widely-used personality instrument in history?” Marketing. The MBTI, for all its many faults, has turned into a $20M per year industry.

If the folks at Myers-Briggs can create that sort of industry with a lackluster product, imagine what you can do with a strong product or service. Get the word out about your products or services through various media outlets (traditional media, YouTube, Facebook, LinkedIn, Twitter, Instagram, etc.). It requires effort, but is also a cost-effective way to reach the masses.  You won’t regret it.

Always Add Value:  

The internet is, simultaneously, a wonderful and thoroughly-competitive thing. There’s no simpler way to disseminate information about your company – and yet, everyone else has that same ability. New companies in your industry spring up overnight. How do you set yourself apart? By adding value to your (potential) customers’ lives. If you work in web development, write blog posts telling customers how to format their website for optimum readability. If you sell paint supplies, create YouTube videos providing product demonstrations (with, of course, links to buy the supplies utilized in the videos). Whatever industry you’re in, use your knowledge to keep bringing customers back to your website.

These days, customers have an increasing amount of options. Set yourself apart from the competition by giving. Customers will repay you for your efforts.

Focus on Customer Service:

Great customer service builds customer loyalty. Some of the most successful companies (Amazon, Zappo’s, Nordstrom) have built their entire reputations on 1) providing great products, and 2) bending over backwards for their customers. As we stated in the Always Add Value section, customers have so many options in virtually every industry. Great customer service goes a long way in attracting new customers and, just as importantly, in keeping them.

Build an Outstanding Company Culture: 

In this increasingly-competitive world, it’s easy to forget the importance of your own employees. Ideally, you’d like to create a culture where your employees are happy, knowledgeable about their jobs, engaged, and (perhaps most importantly) committed to the company long-term.

Turnover is expensive. Knowledge and experience are incredibly valuable to the company and its customers. Talk to your employees and figure out what you can do to improve company culture. Work doesn’t have to be a chore to be productive and profitable, and you will benefit tremendously from loyal, engaged employees. Show them how much you care and appreciate them.

These successful business strategies can give your company a huge boost. If you’d like our help with any part of the process, let us know! You can also visit our services page to learn more.