As per a study, 30% of new businesses fail within the first two years of commencement, while only 25% successfully run their business for 15 years or beyond. There are umpteen number of reasons why several businesses fail at the beginning itself and numerous start-ups experience a short stint in the market. What could possibly go wrong with these businesses? Why don’t they see the light of day? The obvious reasons for it could be inappropriate business strategy.
Following are some business strategies that can help augment business growth:-
- Consumer Research
The No. 1 mistake that businesses make is the lack of in-depth research about consumers. It is vital for an entrepreneur to do a detailed research of consumer behaviour to know their tastes, preferences, affordability and so on. This will help you to position yourself better in the market against your competitors.
- What is your USP
How are you different from your competitors? After all, you definitely don’t want to be just another company, right? Your business is likely to get lost in the crowd and eventually fail if it does not set itself apart from the others with a differentiating factor. It can be anything like the uniqueness of your product, the price, the service, the quality or any other outstanding feature.
- Key Performance Indicators
Defining goals and targets is just a small step towards success. It is important to constantly keep a check on your company’s performance by having appropriate KPI (Key Performance Indicators) in place. Identify the key indicators that drive your business and then accordingly focus your time and resources in that area.
- SWOT Analysis
For any business, it is imperative to know their strengths and weaknesses as well as identify their opportunities and threats. It is beneficial for a business to focus on its strengths rather than the weaknesses to get an edge over the competitors. By reorganizing and restructuring your business strategies, you can efficiently deal with the possible threats and make the best use of the opportunities presented to you.
- Hire the Best Talent
Employees are the driving force of any business, so hire and invest in productive workforce. Hire few but talented employees who can bring value to the table even if it means compromising on your budget a little. They can make a valuable contribution to your business and help to achieve the set targets.
There are factors beyond strategies and planning that impact business growth and profitability. The root causes that impact business growth are the factors that cause imbalances in the cosmic energy flow. Unless and until your staff and your office space is tuned into the cosmic energy you will not be able to attract growth and profitability for your business. Corporate Saral Vaastu shows a simple way to connect to cosmic energy through directions, balance it through structure and channelize it through chakras.
By adopting Corporate Saral Vaastu you will be able to unblock the cosmic energy flow within your office premises. By addressing these root causes of lack of business growth, the aforementioned business strategies will work out better for you.
The results of implementing Corporate Saral Vaastu solutions can be experienced within 7 to 180 days.