Top 5 Advice For Business Growth In The Coming Business Season

Top 5 Advice For Business Growth In The Coming Business Season

Tips for business growth during the business season might be plenty, but what matters the most is their effectiveness in the industry you are working in and your product category. No business owner/management prefers to ensure a smooth run of their business only from season to season. Still, every business does experience increased sales and operations during a business season which is usually during the festive season in a country. So what companies shall do in 2020 for achieving business growth during the business season?

Small and medium enterprises have a lot of growth potential, and all they need is the correct path that will provide them with a smooth ride and the best way to realize their goals and objectives. Everyone is aware of how the financial year 2020-21 started, and the extra efforts they need to invest for business survival this year. But with the business season and holidays approaching there’s something that can be done to ensure business survival, growth, and expansion in the long-term. 

In this article, we will give you five tips for business growth during this business season which will cover all the necessary internal as well as external efforts. External efforts cover the assistance from Management Consultants, freelancers, hiring agencies, and more, while internal struggles cover self-management audit, restructuring the operational protocols and processes, and more.

1. Embrace your expertise

Now, this point doesn’t only go for business, but all of its employees and its entire management. Every company is incorporated with a vision and mission, so it is necessary that companies embrace them in good as well as challenging times. During the current times, when there’s high uncertainty business can be highly benefited by sticking to what they know best.

This is the time to leverage their experience and expertise and innovatively manage the situation for business survival, growth, and expansion. Experiments sometimes shoot businesses miles ahead of the competition while sometimes they prove to be highly damaging as well. But during these times, experiments need to be done with a more controlled approach.

Like a professional can’t be a jack of all cards, the same goes for businesses. This takes us to our next point, which says why companies shall hire external assistance.

2. Management Audits

The importance of management audit can be explained with the fact that they assess various aspects of business and highlight the issues in them.

Management Audit

The management audit is a process of systematic evaluation of the management activities at all levels of a business. The audit examines reviews and appraises the administration’s various policies and actions based on specific objectives standards. As a company scales up, the quantum and number of operations also increase, and they should, amidst this, won’t require management audits from time to time to be free of any budding issue.

We provide a Value Growth Audit (VGA), which is an advanced, digitized and automated management audit that covers almost all business aspects for enterprises from various industries. Along with this management audit, we even provide solutions and strategies that will eliminate any current and potential client deviations. Also, the value growth auditors are competent enough to assist the business in executing the solutions and strategies.

3. Increased Social responsibility

Here we aren’t talking about corporate social responsibility but the responsibility of health and hygiene that the current situation has restored on everyone. The businesses need to ensure that their premises are well sanitized and the regular sanitizations are taking place consistently. A company has many stakeholders from employees to managers to consumers/clients to suppliers to many more.

This point has more social and marketing value than managerial, in today’s time if an enterprise compromises with safety at the cost of anything, then the stakeholders might not choose to be in physical contact with the business. Other than sanitization and healthy measures, the responsibility also extends to taking care of employees, suppliers, managers, and more, in terms of financial and mental health.

The more an enterprise can support stakeholders, the better reputation and goodwill it will create for itself.

4. Build A Passionate Team

Many enterprises face the issue of the workforce, either they have too many employees or too less. Also, they can be either too motivated or demotivated, which affects their effectiveness, efficiency, and productivity. Often the business season requires a passionate and committed team that can handle the surplus of work and stretch for extended hours if needed.

For enterprises on a growing phase and limited to inexperienced HR personnel shall invest in an HR consultant or a hiring agency for building a committed, passionate, and devoted team. The market has excessive job-seekers, and the business needs to be selective and smart in signing new people and laying off old ones.

Apart from them, as the testing times have passed and many businesses might have had to induce certain salary cuts or no salary at all, now they shall also be ready for introducing incentives for the employees who have been loyal to the organization.

5. Invest In External Assistance

Till now, we have highlighted HR consultants, hiring agencies, and management auditors. There are many more types of consultants, professionals, freelancers, and outsourcing firms out there for every kind of business. Many small and medium businesses in India are still alien to external assistance or too uncertain about the outcomes.

In current times when the business will be moving forward from dry spells to business season, enterprises can indeed be highly benefited by consultants and management audits. Suppose they experience that a particular department is lacking resources to match with the rise in business or due to any past layoffs, for the time being. In that case, companies can outsource certain activities and decide to hire new personnel later.

Apart from Value Growth Audit (VGA), we even provide consultants for various general and advanced management areas who promise quality and effective results through their refined experience.

Conclusion

Every business owner has high hopes from the coming business season in the last stage of 2020. Businesses need to be well prepared as this can be the moment they have been looking up to for covering up any losses they made in the first quarter of 2020-21. The second quarter has also been okayish for most of the business, while we are almost reaching the middle of the third quarter. So working on their expertise, getting their capabilities assessed, building a passionate team, taking external help, and managing social responsibilities is a must in these second half of 2021 for businesses.

Mr. Jaydeep Solanki

Mr. Jaydeep Solanki is a Principal - Business Development at Value Growth Audit. Following his management studies, he gained experience as a consultant in the manufacturing and service industry. Today he boasts ten years of experience in this field. Assisting businesses to grow and develop is his passion; the Value Growth Audit is the medium to provide management consultancy services to all businesses, especially small and medium enterprises. He also aims to digitalize the management consultancy services through VGA.

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