Companies across the globe face unprecedented times with most people now in lockdown as governments try to manage the effects of the Covid-19. As economies stutter, job losses are inevitable and for those lucky enough to be in employment many will work from home for the foreseeable future. The outlook may seem gloomy but the crisis may open up opportunities for some businesses to grow. Here are some tips on how remote workers can help your company grow during a down economy.
Job losses are expected at many companies around the world, meaning there is a lot of amazing talent out there looking for new opportunities. This offers some companies a unique chance to grow by building a strong remote team featuring the best people in the business. The process of finding employees is long and complicated. The CMO of celebrity and topical news site AmoMama, Ivan Borokh, suggests “Companies ought to utilize expert support wherever possible. For example, working with local and international job sites to post vacancies and filter candidates will ensure you’ll attract employees and partners who might have not considered your company otherwise.”
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Another top tip of Ivan’s is to seek recommendations from current staff. It is usually the case that high performers often surround themselves with people on the same level and will therefore only recommend professionals they know and trust.
Hiring the right person initially is the most effective way to optimize team costs as these specialist hires can work autonomously with little management but with the right tools and support. The benefits of this strategy are many, your company focus will be results-based and less admin related and the costs of office space and other rigid systems will be vastly reduced leaving your workforce happier, more flexible, and motivated to grow within your business.
One thing that often sets competing parties apart is the customer or user experience. The most popular and visited companies tend to have developed their user experience from the beginning so that even if they grow, they still provide the same or better experience as when they started.
As customer experience expert Paul Hagen suggests, “look at what sets your business apart, what makes you different and unique? Then ensure your customers have a clear grasp of what that is and it shouldn’t change if you scale.
Having great experiences is what leads people to come back for more. It is often said that repeat business is the cornerstone to success so if you get this right you are already on the way to growth and success.”
Once on the up, it is important to know how to scale your business in order to sustain the momentum built. Investing in the people you have and complementing them with new additions is a good start as these are your first evangelists and they can help shape and influence the direction your business takes. Having a clear purpose, vision, and values from the outset combined with continuous training and mentorship will encourage those working for you to stick around and care about your business.
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As you grow, it is crucial you stick to the principles you founded your company on and not try to imitate larger companies. Being authentic is a key characteristic that keeps and increases business trust, goodwill, and engagement. So not only will you benefit from employees staying at your company for longer, your customers and partners will also stick around longer as they see the foundations you are built on are strong and secure.
Making the most out of new technology is a must when scaling a business. There is a multitude of software and tools to help remote workforces organize, communicate, and distribute workflows efficiently and effectively. Using technology can help a business deliver its services or product without having to hire additional staff.
Whether your business delivers a product or service, relying on one supplier or provider seldom allows you to grow. In fact, it may be detrimental to your business as you run the risk of said supplier/provider holding all the cards when it comes to provision, and negotiation. What happens if they fail? Your business may also follow!
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In this age of technology and internet accessibility, it should be very easy to find trusted collaborators. Diversifying allows you to be flexible as you can try new ways of doing things that may not be possible with a sole partner. Having this variety to hand is crucial to attracting new customers as well as hold on to the ones you have – don’t go stale!
A good example is split testing in marketing and advertising. It dictates that you test content on multiple channels and tweak it to fit each individual platform to capture different audiences and new markets. Sticking to one channel severely limits the opportunities to grow your audience in this instance.