My business partner and I have been working together for about 8 years now and since then we’ve both learned a lot about business. When things start to go well you’ll start to feel like you know everything. But the harsh reality is, you don’t.
Just the other day my business partner and I were talking on the phone and we were trying to figure out all of the small things that the company could do to increase revenue and profit.
Funny enough, the majority of the ideas I came up with required our employees to put in some time. The problem with this is that our employees are already busy, which means they won’t be able to get to these things for months.
So what do you think is the right solution for us to take? Maybe hire another employee?
The problem with hiring more employees is that it takes time to find good ones and once you’re able to hire someone things don’t necessarily move quicker. At first you’ll have to get the employee up to speed and train them… even if they already claim to know everything.
The right solution isn’t to hire more employees, but instead it’s to adjust the way you are thinking. For years we always thought about what our team could be doing to take the company to the next level. And although that’s something every company should do, you should also be thinking about what you can be doing to take your company to the next level.
What I mean by this is that what are 5 things you can do that will increase your company’s revenue and not take any of your employees’ time?
Here are some things that my business partner and I have been doing that help increase our companies bottom line:
Content creation
As many of your know I haven’t “directly” made money off of my blog till last week. Not only do I blog because I love helping other people, but it opens up doors for me. For example I have met hundreds of successful entrepreneurs because I blog on Quick Sprout and many of those entrepreneurs became customers of one of my companies.
In addition to blogging I also write newsletters and other various forms of marketing materials for my businesses. This content not only helps bring in new customers, but it also helps create a better user experience. This makes it so that our customers pay for our services longer.
Social media marketing
Social media doesn’t convert, right? Well it does if you know how to leverage it. Not only have we setup Twitter accounts for our companies, but we have setup Facebook fan pages and even blogs.
By being engaged in these mediums on a regular basis it helps us:
- See what people are saying about the space, which allows us to make more educated business decisions.
- It allows us to understand what our customers are saying about us. If they are upset, we try and resolve the problem.
- We can see what people are saying about our competitors. And if they are unhappy with our competitors, it allows us to approach them and potentially bring them over to our company.
- Branding our company as one of the thought leaders in the space is important to us. Being a thought leader will drive more customers to your business.
And if you are wondering what the trick to leveraging social media is… all you have to do is be engaged on a daily basis and truly provide valuable information.
Blog because you can write about something that will benefit your customers. Twit because you want to engage with potential customers. And create a Facebook fan page to allow your customers to express themselves.
Build relationships
There is nothing wrong with hiring business development guys or employees that do your sales and networking for you. But keep in mind that when they leave your company, your customers may leave too.
I know it’s not easy to hire talented developers and designers, but it’s a lot harder to hire someone that can build relationships for you.
With all of our companies it has always been my business partner and me who meet up with other entrepreneurs, network with investors, and even strike up the big business development deals.
Why do we do all of this? It’s because we don’t want to build relationships just for our current company, but we want to build relationships that will help whatever company that we end up creating 10, 20 or even 30 years from now.
Customer support
By no means is customer support a fun thing to do, but my business partner and I are a big believer that every founder should at least spend a small portion of their day dealing with support issues.
If you don’t know what problems customers are facing, or what’s causing them to get upset, then you won’t be able to create a big business.
I know I have said this before, but it doesn’t matter what you want, all that matters is what your customers want. And if you want to understand what your customers want, then you have to talk with them on a regular basis.
Without doing this, you won’t know what your company should be doing next. Yes, you may have an idea of what you want, but as I mentioned above, that doesn’t mater. So take the time and listen to your customers, especially the ones that aren’t satisfied.
Conclusion
If you want to grow your company you have to get out of the mindset of thinking about what your employees can do to make things better. You have to be somewhat independent and figure out what you can do to make things move along.
I don’t care if you have a rock star team, employees make mistakes and things get delayed. So although you want to rely on them, you also have to learn to rely on yourself. And the best way to do this is to figure out what you can do.
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Another Great One Neil.
You Simply Rock !
Thanks
Thanks Ankit, glad you enjoy what I write….now go take some action!
As usual, another great and educative post from you Neil. Those are some really good advices of which many people are not aware of.
I agree… that’s why I wanted to put it out there
It’s true that, as bosses, we usually focus on what our reports can get done and not how we can contribute. Just managing them is not enough in this day and age. A senior manger also needs to be out there drumming up business by interacting.
I completely agree with you that everyone (but mostly bosses) need to leverage social media to engage with customers and their peers to build those relationships that might lead to opportunities later on. I find it’s those relationships built long ago that provide the opportunities of today.
And, one of the areas the boss needs to focus interaction is to the people on the ground and in the field. They are the ones who know how things are done and what kind of work-arounds they are having to do to get their work done – and what they aren’t getting done because of other tasks!
The people on the front line… that’s true. The better foundation you build, the stronger the company will be.
It would be perfect if people could think like that, but unfortunatelly many bosses are so stubborn that they want things done how they think is good and not how they should be done.
Yes that’s true, so it’s important to remember that info when you take charge and become that leader you’re looking to become.
The boss should keep the entrepreneurial and innovative spirit alive in the organization. If the entrepreneur becomes just another manager maintaining the status quo, then the business will go downhill from there. great post as always.
Exactly.. it’s about being able to differentiate the qualities… the more you stir it up, the more action there will be.
I agree. I’ve had a lot of bosses that were as far from having the entrepreneurial mindset as possible. I think it’s important for the boss to keep everyone’s spirits alive.
Yep, to keep it going and moving forward isn’t the easiest task but certainly worth the energy and effort.
It comes down to mentality of the individual. Most people think of themselves as just employees, whereas thinking themselves as “independent contractor” and building their “You Inc” would probably create more opportunities for promotions, learning, and control over their careers.
Nowadays, everyone needs to include personal branding and thought leadership as part of their professional development strategy, which includes doing more than asked just to have more experience and performance. At the end, it’s the person that does more and perform more that gets more offers and leads.
In the end, if the “employee” feels that the “employer” should do more for the “employee” that’s a victim mentality.
There’s a quote: “You can make excuses or make money, but you can’t do both.”
Great post, great thoughts Neil!
This is very true.
Social media is great, but now businesses/people need to get to know potential clients and the thousands they are linking to. No ~ it’s not a silver bullet. I have to get to know people… interesting.
Darn
Exactly…. you can’t just add a million people and expect 1 of them to raise their hands and MAGIC… you need to take the next step and CONNECT.
How about what ideas you the boss/owner can do or create to grow sales and profits, that can then be effectively ‘executed’ on by your employees?
It’s definitely a conversation you need to have… Sometimes it maybe a great conversation and other times it may just be a waste of time, but either way, it’ll help you grow.
Very educative. I would agree that most people do not capitalize on most of these areas and miss out on huge opportunity.
There are so many out there that people just unfortunately don’t take advantage of. Sad but true.
Good advice, I am sure my new boss will like this article. At least I hope he will.
It should be interesting to hear their feedback.
As with a lot of these things, it’s about thinking differently rather than always thinking bigger. Too many companies I have worked for have thought ‘bigger’ but in fact the relationship with their clients has suffered. Concentrating on those relationships can usually bring in a higher margin
Good hints about Bad Boss
Well yeah, the idea isn’t so much a bad boss, it’s more of how you can be more powerful.
What you wrote in conclusion is what google company do to their developers. developers at google are free to speak their mind and do a brainstorm, make their working areas confortable and employers feel like they are entertaining and not working. this would make things work better for companies.
Giving employees that type of comfort and security allows their mindset to process ideas at a different level… therefore they are able to do things most others can’t.
Neil- Great post… I rely on 1) possitive thoughts, 2) possitive feelings, 3) Possitive massive action!
I noticed respond to nearly all the comments…. Are you the next GaryVEE?
EnJOY your day… Brian-
Thanks Brian…. Me and Gary do 2 completely different things
What ever said and done, the employees also need to put in their efforts for better ROI.
They do, which is why you need to take the time and energy to find the right versatile employees.
I think creating a Twitter profile is really a key for everyone business
I agree and disagree here. It’s good for many, but not all businesses.
If I were a funeral director, I wouldn’t want or even need a Twitter.
Yes, I know what you mean… not every business will benefit, only a select lump sum.
Honestly, if a family member were dying, I might be glad to read Twitter posts from a funeral director!
lol… interesting ?
It all depends on how you use it and what your ultimate intent is.
New to your blog, but have to say I’ll be back. Excellent read! Working on the business is no excuse for never working in the business. Would Michael Gerber? I think so.
That’s fantastic, thanks for visiting and joining the discussion. Feel free to ask any questions you may have.
” you also have to learn to rely on yourself” . This quote is so true, some even say, you should only rely on yourself. Great Post
Yes because at the end of the day, only you will care so much for you
Nice one.The Boss is companys head so if he counts on many employees without good control on their activities plus bad Social media marketing it`s waste of time.
Exactly.. and if anything it slows down the process.
Building long term relationships and loyalty is so key these days. Especially with all the choices people have these days. Fantastic post.
Well yes for the most part… building that quality takes your company to a whole other level.
When it comes to business it is relevant how you build relationship between you and your employees. As an employees I would really feel flattered if my Boss knows how to appreciated things that I’m doing for the company.
Well I’m sure he does… it takes time. Sometimes your bosses are more interested in your long term growth… the better quality, the better the positions.
Social media marketing really rocks! Helps me out a ton
It can help a site with 0 hits achieve 10,000 in just 1 day… amazing just begins to describe it.
Great article about relationship. It’s true if you want to grow your Business, you should maintain good relationship with all who engage in you business.
Thanks for great article Neil
Exactly… because that’s the quality necessary to take your business to the next level.
Did you reset the top commentators Neil? Because there are only two people on it, each with one comment.
It’s automatically reset every week.
Oh I see. That why i saw it change every new monday. Why not turn off the automatically reset function change to manual ?
The automatic setup works fine already, so no need.
Great 4 points out what to do how to increase company sales and become bigger than before. I also think the customer support and content creation are most important to every company who operate online web business. What do your think about the promotion of business and make more things to brand up yourself in the related niche market ?
I love advertising and marketing. With our companies, we already do that… Because my background is marketing, I don’t assign those tasks to employees.
Just make sure your ads are preforming well and that you aren’t just buying them for branding.
Oh I see. Good advice and point out the important I must take note of it. Do you know the ways how to promote an e-book effectively ?
Write powerful blog posts that are parallel with what the ebook is about and slowly mention it throughout your posts.
How to write a powerful blog post ?
You are very right on whatever you have said in this post. Instead of relying on the employees, the boss himself needs to find out solutions to take the company to the next level. And the 5 solutions you provided are indeed very credible. Was a really informative read.
Most bosses are terrible and I think most of them need to take people management courses. These solutions are pretty bang on.
Thanks La Digue… yes, the bossman needs to get in on the mix. That’s how you can take a company from good to great.
This reminds me of the advice mentioned in “Think and Grow Rich” – Go the extra mile.
When you do things and provide more value, you feel better and I believe you also will somehow get compensated for it sooner or later.
Sometimes you sew and sew and sew and wind up reaping everything at a different time. Patience is the key.
Neil,
You hit it. Relationship building and customer support are key. Having been in the marketing side of the energy business most of my career, I have seen first hand the true impact on these two elements in sustaining and growing your business. Now that I am an entrepreneur, I know that I must make sure I focus on the customer and exceed their expectations in all I do. Thanks for your ideas.
Making sure your customers are happy is priority number 1. Great to hear that you’re on top of things.
Infact everyone needs to participate. Its not only the employers or employees. If one party does not cooperate, then nothing will happen.
You are very right on whatever you have said in this post. ……
Great article about relationship.
I have not had the experience I craved when employed by someone else. I do take on a team type roll from time to time, at least once a year. I’d like to do some hands on consulting but have yet to form a strategy to break into that niche.
Thanks for the post
What niche are you looking to crack into?
True, true. Company is a machine, a family and everyone should contribute to it, if it has to grow and develop. The communication has to be smooth and clear. Thank you for the post.
Exactly… it’s a combination of everything that will allow a company to grow prosperously.
The key to a business is to have an intelligent and adaptive boss because it doesn’t matter if the right people are hired if the boss will do things his own way.
Yes… if the leader isn’t able to see “outside” per say, the company will never grow and evolve.
Another Great Post Neil.
Really you rock Neil. If we want to grow, we should not think about our employees at all.
Really i agree to your Conclusion.
Thanks William, glad you found it powerful
Great lesson of life on business but how does it apply in a non-virtual world Patel?
The same it applies in a virtual world…You try to manage the business the best you can and keep adapting to the market needs.
Exactly… it works almost the exact same way. Adapt and overcome
Just like Catalin said below, it’s about optimizing the resources in your business and allowing yourself to adapt to changes in the market as they appear.
At some point in your business development you need to start focusing on what matters most, and learn to delegate the rest or stop doing it altogether.
Doing a Pareto analysis is a great way of determining ‘what matters most.’
Yes, because once you’re clear with exactly what you want, you’re more likely to make it happen.
Google follows this same philosophy. That is why employees that work there get free five-star meals, child care, transportation, and the liberty to work on their own projects. (I’m filled with envy)
lol… they are on a completely different level!
I don’t care if you have a rock star team, employees make mistakes and things get delayed. So although you want to rely on them, you also have to learn to rely on yourself. And the best way to do this is to figure out what you can do.
very good info
Thanks Nakliye… even though you delegate your work, you still need to have the skills necessary to lead and make it happen yourself.
I really like this. Not just blaming those around you for why things aren’t working but taking responsibility for the environment that you, as the boss, created, that is responsible for why things aren’t working.
It’s funny how this principle transcends so many areas of life – especially the dating arena.
Cheers,
Leigh
It’s about you having control of the events that occur… everything that happens will continue to happen, but how you relate those downs to your mindset is what it’s all about. And yes this translates seamlessly into the dating world.
I agree with the post’s title.
Personally, I always do my best for my boss and the company I work for. I always strive to improve myself, my skills and everything. But if I get better treatment from my boss and company, if I feel I’m being valued by my boss and the company, I really do the extra mile. Extra mile, meaning you’d have no idea that your employee can really do those things for you, to serve you with utmost loyalty and pride.
It pays when bosses make their employees feel they’re valuable assets to the company. Only bad employees don’t know how to value their boss and the company…and that’s the time for that one three-word business advice you recently gave: #9 Fire bad employees.
lol exactly.. thanks for your insight on this. Everyone is capable of doing something powerful, but it’s up to the leader to find out what it is and how to expand it.
Hey Neil, I just had an doubt, Most of the sucessful Managers and businesses believe, Make the work done rather then doing it ourselves, I mean its better to hire an employee then do the same work being an boss, Manager time is more precious then the normal employee,
Well of course one must delegate work to the employees to become most effective and efficient… but the manager needs to understand the power they have to make things happen. It’s not that manager time is more precious, because employee time is too.
i think both needs to cooperate for the work to be done successfully.
Yes, that’s why its important to choose the right employee.
There’s a saying: To be a good employer, you must try to become an employee first. hehe
I agree with that… you need to have gone through the experience of doing it before teaching it.
Couldn’t agree more Neil. One can’t really depend fully on the employees to move the company forward. The long term plans still has to come from you mainly but it would be good to hold a sharing session once in a while so that you can get your employee involved in the future of the company. You can really get some good ideas from your employee.
Some employees, yes, can give you great excellent ideas, but no all. Be focused on becoming a good leader to direct your employees in the right direction.
Before I became a SEO freelancer in internet, I once become an employee in a fast food chain in our country(Philippines). I always want an employer that leads us in right task and a professional one that doesn’t get pissed very easily. In that way your employees is more likely to stay with you thus, you can build good relationship in each employee, and if that happens, you can all work well, and achieving your goal as a company is just right there to all of you.
Happy to share this. .
Are you building a seperate email list for those who want to stay up to date on your products (ie. Web 2.0 Poverty) ?
Thanks.
All my lists are combined and the only thing I email to people are updates on new posts.
From my experience, bad boss is better than good boss. Most of bad boss looks bad to his subbordinates because they want to get things done on time and they are more concern with the business. Most of good boss doesnt care about anything and they are being good because they have some hidden agenda from the back of their mind. Good boss are not as authoritative as bad boss. Nice post. Thanks.
Well they’re definitely is a fine line between a good boss that can motivate with pleasure and bad boss that just pushed pain.
I have had my fair share of bosses. While I was unemployed I went back into the restaurant business, and other than the fact that I was not happy about going back to waitressing, I enjoyed my job. I always remembering wishing I had a cool manager and i found out quickly why I never did. Because the cool ones don’t get the job done and get in the way of the ones who are trying to do their job. I have to say to the parents out there, you don’t do your kids any favors by not making them work for what they get.
Very true, parents ultimately create the habits and patterns that the children begin to develop over time. So it only makes sense to be more aware of how you raise them .