A business process is a structured series of activities and tasks that when done will lead to the accomplishment of set business goals. All business processes are not created equal, some are critical to the survival and growth of your business, while some are not.
What are the business processes that will expedite and explode your growth?
Marketing is the lifeblood of any business. Ultimately, marketing generates revenue that keeps the business afloat. Without marketing, no business can survive, let alone grow. To grow your business, you need to design a marketing process that promotes your products and services effectively.
An effective marketing process should include steps that identify consumer problems, establish strengths and weaknesses of your business, discover opportunities in the marketplace, develop a way to uniquely position your products and services in the marketplace, and create promotional materials that lead to sales.
Customer service is the management of customer relationships and expectations. Transactions between businesses and customers don’t end at sales. Customers need to be supported after sales to ensure continuous patronage and word-of-mouth recommendations.
A customer service process ensures that customers are satisfied with your products and services. The process includes after-sales support, educating customers, managing returns, attending to issues that may arise as customers use your product or service.
A quality customer service process will improve brand loyalty, customer retention, reduce customer churn, increase revenue, and lead to more employee engagement.
Proper financial management leads to business growth. There can be no proper financial management without a process. A financial management process ensures cash inflow and cash outflow are properly managed, funds judiciously allocated, budget strictly adhered to, expenses controlled, staff paid on time, and proper record keeping.
In the final analysis, people get things done. People manage business processes and continuously improve the process. Businesses count on their human resource for the day-to-day running of the business. The quality of employees determines whether a business will grow or not.
This is why your business needs a human resource process. A human resource process includes a series of steps the business takes to attract talents that’s a right fit for the business, onboard and train staff, protect their employees, and set them up for success.
In addition, a human resource process establishes ways to handle worker grievances, evaluate their results, reward them for going the extra mile, promote them, and enforces discipline.
No business can endure without corporate governance. Governance is what unifies other processes and align them with the vision, mission, values, and goals of the business.
More than that, it ensures the business complies with industry standards, legal requirements, and standard operating procedures in order to meet the expectations of all stakeholders within and without.
To accelerate your business growth, you need a corporate governance process to manage your affairs consistently and ensure you are not running foul of any requirement.
If you cannot describe what you are doing in your business as a process, then it will be difficult to duplicate results and provide quality service consistently.
A business process will enable you and your employees to visualize what you are doing, identify problem points in your service delivery and fix them, and more importantly, continuously improve as you grow and evolve.