Having a great business idea is a small part of running a successful enterprise business. Initial success doesn’t guarantee you’ll always be successful either. Here are five things that successful enterprise businesses all have in common. How can you incorporate these into your business?
- Disrupt, Improve
Successful enterprises don’t arise by chance. They offer significant improvements to the status quo, that improve processes for a wide audience (hence their ability to expand to multiple locations). Listen to the common complaints of your friends and coworkers, especially within your industry. Is there a way you could do business better or faster? Consumers, B2B and B2C alike most crave convenience, speed, and cost savings. Approach your current business offerings through this lens, and see if you can offer improvements in those categories.
Remember, just because something has always been done a certain way, doesn’t mean it has to be done that way.
- Clear Instructions & Policies
One of the most successful enterprise business that all others, B2B and B2C alike, can learn from is The Cheesecake Factory. A major part of their success was their ability to perfectly execute recipes with near exact uniformity, without resorting to frozen prepared meals. A customer can expect the exact same product and any Cheese restaurant, anywhere. The Cheesecake Factory achieved this by emphasizing and improving their instructional methods. They studied and improved the methods by which employees were trained initially, and then anytime a new menu item was added. The Cheesecake Factory management team applied their intensive approach to training instructions and policies to all facets of the business, main chefs, line cooks, waiters, even busboys! They also perform quarterly checkups to identify weaknesses in their training materials as quickly as possible. The Cheesecake Factory found that if you leave no room for guesswork or uncertainly, you can control the outcome. Enterprise businesses should take a look at their training and overall instructional materials to make sure their are achieving the same level of uniformity.
- Brainstorming & Evaluation of Ideas
The most successful enterprise businesses know the importance of brainstorming, but also the importance of critically evaluating the ideas generated by brainstorming. Enterprise businesses are lucky in that they have a wider pool from which ideas can be drawn or generated. Make sure all your managers are keeping their doors open for employees to drop by and suggest improvements, and then have a system in place for those ideas to be raise up to the c-suite.
The very best enterprise businesses go out and seek new ideas. They run programs to encourage employees to contribute their suggestions and form committees to focus on key areas of the business and how to improve them.
- Focusing on AR Management
Successful enterprise businesses run a very tight financial ship. No where is this more important than in relation to AR Management. Being paid on time, consistently, is critical to maintaining supplies and preparing for expansion. Ensure that your business has a robust AR Management solution in place, and effective strategies to always maintain control over your AR.
- Embracing Mobile, Search, and Social
How customers find and select businesses is changing every year. These days, mobile is key for enterprise businesses. More customers, including those for vendor solutions, begin their search on mobile devices. They increasingly are turning to Google searches to find possible options. Lastly, in keeping with mobile usage trends, more and more customers are influenced by content marketing on social media.
The most successful enterprise businesses embrace these 3 majors trends of consumers habits.
Which tactics of successful enterprises to do you most admire? Share in the comments!