What happens when you think your company is doing everything right but you still aren’t getting the results you want? You talk to Mike Diamond. It’s frustrating when you don’t know what questions to ask or what clues to investigate. Here are a few common business mistakes that are frequently overlooked by management.
Not Understanding the Audience
Not only is this the most common mistake, but also the most severe. Failure to understand your target audience can literally kill your company. Your business cannot serve everyone nor should it try. Targeting an audience requires more than just a string of descriptive, psychographic buzz words – it requires constant analytic measurement for evaluation to ensure content and services are appealing to customers.
No Value Statement
Every business is born by an owner with a unique vision, and that differentiating factor must be articulated. Value statements are extremely underutilized but are important to communicate the core purpose and beliefs that serve as the foundation of company operations. Not only will this impact employee behavior, it will also be an invaluable guide to a business leader when difficult choices must be made. If a potential business decision isn’t in line with its value statement, it may be a prudent choice to walk away and preserve the company’s integrity.
Too many businesses view their employees as a stepping stone to larger goals. Employees also have hopes and dreams, diverse skill sets, and opinions. A boss will delegate tasks and walk away, but a leader will ask for feedback and encourage employees to express themselves creatively. Employees have valuable insight that a business owner won’t have access to because they see how the business operates when the management is not around. Leaders who are appreciative and approachable will also foster loyalty within the company.
Lack of Defined Business Goals
Setting quantifiable business objectives will help keep your business on track as it grows. Goals will also help leaders identify weak points within a company. For example, if a revenue goal cannot be met, or if a business has failed to increase the number of online visitors each week, it’s time to investigate. The website may be poorly constructed or employees may not have delivered good customer service. A business will always experience bumps on the road to growth, but quantifiable goals are the best way to cut off dead limbs and measure company success.
Underleveraged Social Media
Social media managers are an underappreciated bunch. Social media not only engages your audience, but it often becomes a personality for your brand. Properly leveraging social media relies on far more than understanding how to upload a post. Managing customer expectations online is a full time job with unforeseen consequences. Your online presence should be monitored by someone who is consistent and has a history of providing excellent customer support.
Finding the problem is the easy part. Formulating a solution is why you need Mike Diamond. With years of experience under his belt, Diamond Strategy Group is the objective perspective on business operations you need to see the change you desire. Call today to find out how you can enhance your company and build the business you envision.
MG (Retired) Mike Diamond is CEO and founder of Diamond Strategy Group. Diamond Strategy Group is a leadership development and consulting company. We focus on improving the quality of leadership within organizations by utilizing the same methods Mike and his consultants have used in both military and civilian sectors. We invite you to stay connected! Visit us online at www.DiamondStrategyGroup.com and connect with Mike Diamond onLinkedIn,Facebook and Twitter! E-mail us at email@example.com!