Develop a business succession strategy
Many companies do not have a formal usa phone list succession plan that is designed to prepare the next generation of senior managers and employees to secure the future of the enterprise.
Pay attention not only to quantitative but also to qualitative aspects
Quantitative changes, such as revenues, profits before and after expenses, are easy to measure. Therefore, it is easier for business owners to focus on them. At the same time, higher-level companies successfully combine both quantitative and qualitative characteristics. It is important not to forget about such things as strategic planning, leadership, sales and marketing management.
Focus on the value of the business
Some entrepreneurs think about the value of their business only in the context of exit planning, akin to waiting until retirement to check their savings just before retirement.
Ensure the preservation of the achieved business value
For many businesses, the bulk of their value (around 75%) is in intangible assets: trade secrets, patents, software, customer relationships. It is important to identify key intangible assets and take steps to protect them.
Plan with foresight
Businessmen who ignore planning often face the need to solve unexpected problems. They spend a lot of time solving unexpected issues. Effective planning allows you to set proactive goals for the future and develop solutions to key challenges.
Planning with foresight
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Generate value for customers
The classic definition of value involves calculating the difference between revenues and expenses. This may seem obvious at first glance, but in reality it is much more complicated. Benefits and value for the customer can be manifested in explicit and implicit forms. In addition, an effective set of consumer benefits can provide barriers to new players in the market or increase competitiveness.
Advantages of using the technique
The CSC model demonstrates high efficiency in interaction with consumers at the stages of product development and release. With effective configuration of the value chain, the following results are achieved:
the buyer's life cycle LTV is growing;
customer service costs are reduced;
the efficiency of all links of the central service center increases;
product improvement and implementation of innovative solutions are accelerated;
new products are created and promoted to consumers more quickly;
customer churn is reduced and their NPS loyalty is increased.
This approach helps identify new areas for growth while helping to identify potential threats from external players. The value chain provides an understanding of the need for changes in the company today in order to gain a leading position tomorrow.