Often we hear business owners and stakeholders talk about “taking their business to the next level” or their business needs to “take the next step.” They’re ubiquitous phrases that have different meanings to each person that says them yet they all mean progress. How it’s achieved and what needs to be done to get there is what remains.
What happens more often than not is that business leaders have the nagging feeling that there is untapped potential for their organization, they’re just not sure how to capitalize on it. It doesn’t have to mean that a company is stuck at a certain hurdle or is failing. Even if things are going well, taking a business to the next level means moving forward and increasing growth through whichever means can be improved upon.
3 key steps
87,200,000 That’s the number of results you’ll get if you type “take your business to the next level” in to Google. Maybe you have the time to sort through those articles and find out which one speaks to your particular need, but most likely you don’t. We don’t know anyone who has that time so here are 3 basic components we have identified that every business can use to begin to solve the complex question of “how do we get to the next level?”
- Define the next level
Almost always the next level means an increase in revenue/profits, but for your organization maybe it means something else. The important thing is that the next level is defined in concrete terms and numbers.
- Research, Analyze, Strategize
Once you know how the next level is defined throw out any and all assumptions about how to reach it. Research and gather data from all areas of business including management, employees, customers, marketing, website, social media, and any other areas that are pertinent to how your organization operates. All of these produce mountains of information and data that can yield significant areas of opportunity. Now you’re ready to strategize and capitalize on any area(s) that need improving.
- Test & Measure
It’s vital to continually test and measure the strategy against Key Performance Indicators. By gathering data and information progress towards that next level can be monitored and measured. Improvements can be made and some new areas of opportunity may be found.
Although these are very basic key steps that any business can use to start the process, we feel that it’s important to consider working with an independent 3rd party firm. Hiring an outside party can bring new insights to your organization and shed light on opportunities without bias or assumption. Too often businesses make decisions based off of gut instincts or tainted data and instead of taking their business to the next level, they’re scrambling to stay above water.
It may mean a different thing to your business than it does to the business next door. But in the minds of Big Buck Research & Analytics, what isn’t different is the way of getting to that next level. It’s achieved through defined goals, scientific impartial research & data analysis, strategies based squarely from those results, and continual gathering and assessment of information.
If you find your organization guessing at what will propel it to the next level, or trying old strategies only to find yourself having to overcome the same hurdles again and again, call us. Everyday Big Buck Research & Analytics helps clients uncover untapped areas for growth so they can take that next step to reach that next level, and put hurdles in the rearview for good.