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How to Give Your Business a Competitive Edge

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Due to the current financial climate, it is more critical than ever before for companies to stand out against their competition. The damage caused to the economy by COVID-19 has led to job losses and business closures. Figures from the U.S. Bureau of Economic Analysis (BEA) show that real gross domestic product (GDP) decreased at an annual rate of 5.0% in Q1 2020 and then dropped to 31.7% in Q2 2020. While you may not be able to control the events that caused the economic downturn, you can take steps to ensure that your business has the best chance of success and survival in these challenging times. One crucial way to protect your business for the longterm is to find ways to give your company a competitive edge. 

A competitive edge enables your business to become a major competitor in your industry and differentiates your company from the many similar businesses operating in your sector. You need your business to be the one that consumers think of first, when they have a need for the products and services that you offer, and you want them to keep coming back time and again. The question is, how do you develop a competitive edge? Read on to find out:

Differentiate Your Company From the Competition

The phrase USP or unique selling proposition is one that you would hear bandied around a lot in marketing departments in the past. Nowadays, the term USP is so well worn that it is practically overlooked. However, the importance of finding a way of differentiating your business from your competitors is a lot more than mere marketing jargon; it is an essential tool to ensure that your business stands out from the crowd for all the right reasons.

Ask yourself, ‘what makes my business different from the many others out there?’ Then use this to your advantage by communicating it to your customers.

Spot Opportunities

Being the first in your industry to capitalize on an innovative new trend or idea is an excellent way to edge your way ahead of the competition. To spot these opportunities, you need to be on the lookout for ideas and inspiration. A perfect way to spot opportunities that your competitors may have missed it to keep up with news from around the world by reading the international press, for example, israelnationalnews.com. Keeping up with international news will enable you to spot potential markets for your products and services and to capitalize on these opportunities.

Offer Exceptional Service

While there are many ways that you develop a competitive edge for your business, it is vital that you don’t neglect the basics. Offering exceptional customer service is crucial for keeping a step ahead of your competitors. Many consumers become frustrated when a business attempts to attract new customers while neglecting existing customers. Ensuring that both returning and new customers are offered the same level of outstanding customer service is sure to give you a significant edge over the competition.

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Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

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5 Ways To Find New Clients For Your Business

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If you’re looking for ways to find new clients for your business but you don’t know where to begin then don’t worry, you have definitely come to the right place. Whether you’re a new business or you’ve been in operation for years, you need to be sure you’re regularly approaching new clients that could be interested in your business. Luckily, there are lots of ways for you to do exactly that. From attending events to speaking with local businesses, you may be surprised at the things that you can do. With that in mind, here are 5 ways to find new clients for your business: 

Attend Events And Conferences (Both Online And Off)

One of the best ways to find new clietns is to attend events and conferences within your business. With everyone there to network, you will be able to speak to people when they’re open to discussing their needs as a business. Face-to-face conversation goes a long way in sales and with that, events are the perfect too. 

With the COVID-19 curently affecting the events industry negatively, online events are also a great way to meet potential clients. Although networking may be a little harder, you still have lots of opportunity to meet new clients. For a guide to events during the COVID-19 pandemic, you can visit this site here. 

Speak With Local Businesses

If you have lots of businesses in your local area and you think that they could be a potential client for your business, get out there and speak to them. Whether this means sending them an email or picking up the phone, you may be surprised at how far a quick conversation can go. 

Use Online Platforms That Help You Find Leads

Although you may not be aware of this, there are lots of online platforms that allow your to find leads. Whether you’re searching through online tenders or looking a job listning boards for freelancers, you can find a lot of your clients simply by searching the right site. For more information when it comes to online tenders, you can visit etenders here. 

Invest In A Sales Team

By investing in a sales team, you’re investing in people who can help your business make more money. It may be a scary investment to start with but by the time they start bringing new clients on board, it will be worth it. For a guide to building a sales team, you can visit this site here. 

Use Social Media To Advertise

Social media is a great way to market your business and in turn, it can bring you more clients. Although it takes a lot of work and dedication, it’s definitely worth it. 

With lots of great tips and tricks to bear in mind, you can be sure you’re doing all that you can to find new clients for your business. What else could you do? Did we miss anything off of the list? Let us know your thoughts and ideas in the comments section below. 

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Tips For Organizing A Successful Business Event

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It doesn’t matter your industry or the nature of your business. There will likely be a time when you’ll want to throw a business event of some sort.

It’s essential that you review the following tips before you get started planning so that all goes over smoothly. You can rest assured that your event will be a success when you start planning early and map out your tasks and set deadlines for each to-do. Remember to have fun with this project and to make a note of what didn’t go over well so you can make changes the next time around.

Assign A Planning Team

Events can give your business the competitive edge it needs to succeed. It takes a team to plan a successful business event. There’s a lot that needs to get done so avoid trying to do all the work yourself. Put one person in charge of the event, so you know who to turn to for questions and to get an update on the progress you’re making. Make sure you sit down and talk about who’s doing what so there’s no overlap.

Set A Budget

Another tip for organizing a successful business event is to set a budget and to do so right away. It’ll be helpful to know how much money you have to work with before you start to sign contracts and put down deposits. A budget will help guide your decisions and ensure you don’t spend too much. Keep your budget handy throughout the planning process so you can refer to it when you’re completing your tasks.

Choose the Right Location

Your event will be much more of a success when you pick a prime location to hold it. You must have the right size venue and ensure it fits your theme. Tour spaces and see your options before making a choice. Once you have a venue, consider hiring First Traffic Management to ensure your guests get to your event safely. Let them handle the logistics and any permits so you can focus on being a good host.

Get the Invites Out Early

Your event isn’t going to go over very well if there are no attendees. Therefore, once you secure a date, time, and location, then you should send out the invitations right away. You want to have an idea of how many guests you can expect and for the invitees to put the event on their calendars and save the date. Create a marketing plan to help drum up excitement and get the word out about your business event.

Discuss On-Site Roles & Responsibilities

The night of the event is just as important as the preparation and planning leading up to it. You’re going to want to have a staff of people who can help ensure all goes over seamlessly when it’s show time. Get your staff together and discuss roles and responsibilities so each person knows what they’re in charge of and can be useful at your business event. Talk about logistics and ensuring everyone involved has a job to do and knows how to answer any questions the guests may have.

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3 Easy Ways to Upgrade Your Company Culture

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It’s no secret that the COVID-19 pandemic has impacted almost everyone’s lives in some way. That includes businesses across the world. Unfortunately, many of them have had to shutter completely. Others, however, are trying to figure out how to reopen and restructure safely and effectively. 

As of August, the United States had only regained 22% of the millions of jobs lost due to the virus. UK job losses hit a record high

If your company has been fortunate enough to remain standing through this pandemic, and you’re wondering what to do next, now is the perfect time to consider your overall workplace culture. 

Whether you want to attract new employees or you realize it’s time for a change, upgrading your company culture can make a big difference in the success of your business as you move forward into a “new normal”. 

With that in mind, let’s look at a few ways you can upgrade the culture of your company from within, in order to make positive changes that employees and customers/clients alike can appreciate. 

1. Upgrade the Look of Your Business

It might not seem extremely important, but giving your company an external makeover can make a big difference in the environment you’re trying to create. First, start by decluttering your office space. Creating an environment that encourages working together in open spaces can make everyone feel more welcome and invited. 

Next, let in more natural light. If you have large windows in your building, put them to good use instead of covering them. Invest in a Glass Polishing company to make them sparkle for you. Natural light can boost energy and productivity. 

Even the colors you choose for your office can make a big difference. Color psychology is a real thing, so do your research on the best colors that will promote creativity and encourage productivity. 

2. Arrange Weekly Meetings – With Everyone

We’re living in uncertain times. Just because employees are heading back to work doesn’t mean those uncertainties simply go away. It’s important to keep employees in the know as much as possible. So, why not just make it a rule within your company? 

One of the best ways to do that is by holding weekly meetings with everyone. You can choose different ways to do that. You might benefit from having everyone in one room to talk about the state of your business and where you want to go. Or, you could branch off into different groups and meet with a different section of your business each day. 

Whatever the case, make communication and transparency a priority in your workplace environment. It will help everyone to feel more comfortable, more equal, and more valued. It will also boost your employees’ spirits by giving them a voice and making them aware that their ideas and opinions truly matter within your business. 

3. Encourage Positivity

Remember, no matter what the state of your business may be, you’re in charge. As a result, the things you say and do will set the tone for your company. So, it’s important to be as positive as possible, as often as possible. 

Even if things aren’t going well, or you’re worried about the state of your company, keeping a positive attitude will carry over to your employees and help them to feel better about the work they are doing. 

That doesn’t mean you need to hide things from them. If the business is struggling, it’s okay to talk about it. But, put a realistically positive spin on it. Most of the time, things can be fixed. You can recover. Use that mindset and attitude to motivate your employees and encourage fresh, new ideas. No one wants to work in an environment that is constantly negative or induces stress. You can change the entire culture of how people feel about coming to work by showcasing positivity every single day. 

Not only can it help to boost the work your employees are able to produce, but it will improve everyone’s attitudes toward each other. Now, more than ever, kindness and patience are important. A positive environment can foster more of those things, and create a more welcoming workplace for everyone. 

As you can see, it doesn’t have to be difficult to upgrade your company culture. Whether you want to make adjustments to some of your business practices or actually change the look and feel of your company, now is the time to pull the trigger on changing your workplace culture. Not only will your business benefit but your employees will feel more empowered than ever.

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