Starting a business is easy. But running a successful business is an entirely different story. For instance, in the United States alone about 9% of businesses both new and old close every year. The failure rate of new businesses is relatively high, with about 50% failing within the first five years.
Competition is fierce in the business world, both in terms of sales and efficiency. This is where business process automation comes in handy. If you want to remain competitive, you need to automate or someone else will automate you out of business.
By automating you can put routine, redundant processes on autopilot and shift your focus to more important tasks that make or break new ventures. There’s no shortage of efficient and effective solutions to business automation on the market today. You can automate and streamline everything from customer service to marketing to payroll. However, just because you can automate a process doesn’t mean you should.
Automation in the right way gives your company legs to scale upwards and grow, because it helps you engage with customers in a way that makes them more likely to buy. Here are 4 business automation strategies that can help you grow your business the smart way.
When you sit down to make goals in your business, it’s important to not only make short-term goals but also long-term goals. You need to know the overarching goals for your business. Where do you see your business in 5 years time?
Are you and your business prepared for the change that is going to come whether you like it or not? By design, you can prepare for these changes and ensure that your business grows in the next 5 years.
Whether you own a small internet business, a blog or some other web-based business, you’ll know that your business can’t stand still. Amongst the day to day tasks of running a business you still need to think about ways to improve business efficiency so that your business can grow from strength to strength.
Minimizing the number of things you have to do each day, each week and each month as a business owner is also important. This means streamlining your activities and creating business systems and processes to help you generate leads, build your email list, create sales and improve your profit margins. There are 3 key efficient business practices that every entrepreneur can easily learn and implement.
How can you automate elements of your online business?
Many entrepreneurs have different opinions whether you should automate your online business. On the one hand it works great, but on the other, it can get in the way of engagement.
However, if you want to build your passive income stream you’re going to need to implement automation. If you do it right, all you have to do is get people on your list, assuming they were well targeted, and then you can start earning.
First, let’s define passive revenue. This is income that you earn today (and tomorrow) through the efforts you put in yesterday and today. No one denies that earning passive income is work up front and not at all passive. But, if you build your systems correctly, you’ll be able to take breaks and do less work while your income continues to rise on autopilot.