2020 has been a difficult year for everyone, but it has hit entrepreneurs and business owners particularly hard. Innovators that normally were able to be at the forefront of trends were given an unprecedented set of challenges to navigate. Now, in the coming months of 2021, acclaimed business leader Pascal Bachmann has outlined five ways for entrepreneurs to bring their business to the next level within the year.
1. Know what you want.
First, Pascal encourages entrepreneurs to know exactly what they want.
“You need a plan. It can be a business plan, a business-map or a clear long-and short-term goal map with milestones.” Pascal outlines.
Knowing where you currently are as a business and entrepreneur, whether it be professionally, financially, or in terms of the market space, is as equally as important to knowing where you want to go. This map will help make the path clearer to reach new levels of success.
“If you want to grow and bring your business to the next level, I highly recommend to take this step seriously. Invest enough time to bring the clarity that is in your head on paper so it’s clear and solidified for you and your team,” Pascal says.
2. Digitize your business.
As if the pandemic already didn’t make it clear, businesses need to have an online presence to be able to survive in today’s market.
“Almost every company nowadays has large parts that can, or even have to, be digitized,” Pascal explains.
Currently, businesses regardless of what industry they’re in, need to have a website to do everything from generate leads, funnel sales, or establish and maintain and social media presence. All of the above and more are completely necessary to stay interesting in the market and reach customers in more than one way and build the trust to have their contact information.
“Optimize your online processes and collect customer data. After all, the true value of a business are the people that trust in you and your product or service,” Pascal says.
3. Build a team.
It might be a no brainer, but if you want your business to grow, you need support. The key, as Pascal points out, is making sure that you let the right people into your inner circle.
“It is easier today than ever to hire employees or freelancers. More important than having access to skill and labour is that you select the right people to be on your team,” Pascal says.
Having the right team allows you to increase the hours per day your company can be active, therefore making you more productive, and bringing in more customers and profits. Another major benefit of having a supportive team is that it allows you to delegate, making it possible to identify the tasks you don’t need to do yourself and assign the work to someone who can do it better and faster, freeing up your time for things that require all of your attention.
“Many business owners divide their focus and do too many things at once. It’s one of the reasons that their businesses don’t grow.” Pascal explains.
4. Maintain customer relationships.
In the end, it’s always about the customer or client. By binding enthusiastic customers to you and your business, you are able to increase your customer base through further recommendations they will make on your behalf.
“Never forget that regular customers not only mean regular income, but that satisfied customers can be used as a powerful word of mouth marketing tool,” Pascal outlines.
In addition to providing top notch customer service, caring for your customers also means collecting and responding to feedback, resolving problems quickly and thoroughly, and always being approachable and accountable.
“In other words, have world-class customer service,” Pascal says.
5. Know your numbers.
All included, Pascal outlines that you need to know everything about your numbers: your investments, costs, margin, net profit, credit scores, cash, and more. This allows you to fully understand where your money is and where your business is financially at all times.
“Knowing the numbers will help you in your need to know and understand your customers: Who are they? Where are they, what do they want? How can you attract and retain them?” Pascal says.
If you measure, you have a clear overview and you can make decisions based on facts, not on emotions and guesswork.
“Measure, analyze, scale and take your business to the next level,” Pascal says.
Pascal has decided to personally coach 20 entrepreneurs in 2021, and is currently looking at applications before the program launches.
To reach out to Pascal for more information about how he can jump start your business, check out his website to contact him.