Top 7 Business Trends 2018: Where To Invest Your Focus & Resources

I believe that 2018 will be a year of continuing disruptions. Companies and organizations of all sizes will face major challenges and opportunities. Speed and your ability to act will be detrimental in the success of your company this year.

Based on the business trends 2018, here's where I encourage you to invest your focus and resources in 2018:

7. Plan and prepare to shift gears quickly

Have a plan to move you from where you are today to where you want to be in 12 months, but remember to schedule regular checkpoints to ensure that you are shifting gears as needed. Change is happening on a regular basis and what worked last year doesn't necessarily work today. Being able to change things around to seize the opportunities is going to be detrimental to your success in the upcoming months.

6. Invest in technology

As digitalization continues disrupting more and more industries, it's a no-brainer for company of any size to invest in improving their current technology. With continued innovation, companies who fail to innovate will lose its ground, market share and become obsolete. Just like it was detrimental 8 years ago to have a website and social media presence, it's becoming absolutely necessary to process online payments, provide quick customer support and improve efficiency through digitalization and automation. When done right, these investments will significantly cut down on the number of people it takes to complete the tasks and improves consistency and quality in your business. Keep in mind that more is not always better. Look for the minimum necessity, but ensure that tools you have work well and provide the outcomes you are looking for.

5. Upskill and retrain your current workers

Companies continue to struggle to find the right people to fill in the empty seats in their organizations. According to statistics, 45% of small businesses are unable to find the right candidate and 60% of all employers have a job vacancy for 12 months or longer, what has incredible impact on organizational effectiveness and employee satisfaction. Job requirements are quickly changing and if this trend continues, many existing jobs will be irrelevant as soon as in 5 years. Investing in improving your existing teams is a smart decision for any type or size of the company.

4. Enhance team communication & productivity

Often when we start working with a new client, I am shocked how ineffective their communication and project management are. Some days I wonder how it is possible that anything gets done, haha. Anyway, enhancing your team communication and improving project management can hugely benefit your bottom line as it will plug in massive leaks like rework, conflict, delays or other.

3. Improve your customer service

It's a well-known fact that people buy from companies they know, like and trust. Creating positive customer experiences can hugely benefit any business or organization, yet customer service continues lagging behind other organizational priorities. Be intentional about customer service. It's not enough to put off the fires, the need is to become innovative and stay ahead of the game in this area.

2. Uplevel your leaders

Company is only as strong as leaders it keeps. Your leaders can take your organization to its next glory or become bottlenecks of its success. No matter what area of your business you look at, strong leadership skills are absolute necessity. Knowing how to manage people, projects, resources, problem solve, communicate, negotiate, navigate change, all of it starts with managing self. Your leader set the standard others in your organization will follow. To have strong teams you need strong leaders to mold them.

1. Do what you do best

One of the best tips I can give you for the upcoming year is to focus your best energy, time and resources on your best products, services, or strategies. Doing more of what works is a surefire way to higher profits and improved satisfaction. If you are good at something, stop looking around for the next big idea and make the most out of what you have. What are you really good at? Why do your customers choose you instead of your competitors? Why do your best employees stick with your organization? Do more of it in the upcoming year to see your business improve.

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