Whether you are an individual salesperson or an international shipping conglomerate, the well-being of your company relies on export driven growth. You need to sell out more than you take in. If you are looking to have a positive net trade balance, then you need to find the bottlenecks in your business processes. Here are some of the ways that you can prepare your new processes to sustain export driven growth.
Find the bloated areas of your expense accounts
There is always a way to cut back. As any banker will tell you, the first way to make money is to get out of debt. Cut back on all of the bloated expenses that you have, and if you cannot find any, hire someone to find them for you.
No matter how small your cutbacks may seem, saving even small amounts of money tends to quickly add up. You will be able to buy that new piece of essential hardware that you have been missing or put aside money to stay out of debt when an emergency hits.
Use Pareto’s rule to your advantage
In order to create export driven growth, you need to identify the small minority of customers who are bringing you the bulk of your support. It never fails in business no matter the industry: 20% of your customers are making 80% of your purchases. Find out who they are.
Once you find out who they are, study the trends in their demographics, psycho-graphics and geographic to see if you can attract more people like them. If customers on the outskirts begin to complain that you are not giving them as much attention, forget about it. If they continue to purchase, they will soon be a part of the inner group that you are focusing on. If they do not, then they are not worth your time in the first place.
Improve your workflow
Cut out the dead spots in your day by automating all rote processes by computer. If it requires manpower, then hire someone to take these workflow bottlenecks off of your desk. When your work is more creative, you will naturally be inclined to increase your productivity. Higher productivity means more growth in 99 percent of cases.
Companies like Randstad Business Support give you the resources that you need in order to find your business footing in the 21st century.