What do you think is the prime objective or goal of a company? If you ask 10 business owners this question, almost everyone will say they want to earn more profit than last year. But what else?Amarpreet Singh
Everyone wants to generate more profit than last year! This is something very natural because in business everything is about money. However, in addition to profit, there are few more things that give a complete shape to your business. Also, different business owners will have different business goals depending on the time they have been in the market.
A startup will have plans to become larger whereas a company that is already well established will want to grow internationally and so on.
But, there are few basic goals that are common to every business, be it small or big and reaching those goals is very important if you want to survive in this competitive arena. And before going forward, I would like you to get a quick overview of How To Write A Vision Statement For Your Business. Next, here, I'll present a look at the business goals that your company should have:
Having a strong customer base can do wonders with your business, but simultaneously you also need to increase the number of customers if you want to compete with other companies. There will always be loyal customers, but that should not stop you from trying to find new customers. With so many online marketing methods available, you should make use of them to increase the number of customers and ensure a stable position in the market.
Online advertising, email marketing, billboard advertising, advertising on social media websites and various other techniques can be used to achieve this goal.
There are times when customer demands are huge and you could not supply the desired product or service because you have a limited productivity. In fact, this is the scenario for most startups where they fail to meet the demands of customers and hence there is delayed delivery. This calls for an increase in productivity and it is one of the most important goals that every business should have.
In order to reach this goal, you will have to increase the number of people who are working for the company. Unless you have the resources to increase productivity, there is no other option to reach this goal. Not only working hands but also tools and ingredients will be needed to support the increased productivity.
This is something that is totally under your control. The way you serve your customers will decide the future of your company. Quite expectedly you would want to serve your customers well and a strong customer support will help you do that. Sometimes it is about the personal touch that helps in creating a good impression on the customer.
Improving customer service is of prime importance to maintain a good rapport in the market. Once again, you can make use of online platforms to provide the support. Ask for reviews of the product or service or give them some additional discount when they come back next time to buy something. This will show that you value your customers.
This is the ultimate goal for any company and achieving it will only make you feel greedy for more. So, there is actually no fulfilling of this goal. But, yes you can always look to increase revenue and sales by calling for shares.
This is an objective that comes into place once you are already well established and on the verge of expanding.
Till then, you can focus on all the other goals mentioned above and you will notice that your company has already increased sales from last year.