Gain MORE in 2024 and Beyond
Key Strategies for SMB Business Growth
Business leaders never seem to get a break. It’s non-stop work to stay ahead in all aspects of business — from corporate policies and employee engagement to technology solutions and customer needs. But every successful business leader knows, this is the exciting part — and it’s actually what they crave! Thinking about growing a business doesn’t stop … and it really shouldn’t.
This doesn’t need to be a negative aspect of being an SMB owner. The trick is, how do you keep your business constantly moving forward to ensure profitability? There is no magic formula. Every organization has its own unique set of challenges and needs. It’s about having a growth mindset, that’s for sure! We know all too well that your priorities can quickly change direction due to factors out of your control, and you have to be ready. Fortunately, there are key strategies that businesses today can incorporate into their growth plans to provide as much stability as possible… and perhaps, it’s easier than you think!
Every day, technology is pushing our world ahead, but with the right combination of initiatives, your organization can continue on its trajectory towards success. So keep doing MORE!
Machine Automation
Opportunities for Sustainability Partners
Revenue Bottom Line Investments
Employee Experience and Talent Acquisition
How to do MORE
Machine Automation
AI is here. We cannot hide from it any longer. We need to recognize the pivotal role AI plays in modern business operations. It has now transitioned from a trend to an essential tool across various functions, and it’s imperative for every business owner to actively strategize integrating AI to foster a thriving and future-ready organization.
For small businesses especially, embarking on the journey of pinpointing needs and finding solutions can be a daunting task. Begin by assessing your daily operations and functions to lay the groundwork for making well-informed investment decisions that deliver maximum ROI.
Doing MORE means:
- Paper reduction is a great place to start. By uncovering areas of our business that could potentially use less paper, you can easily implement intelligent information solutions that are driven by AI technology.
- Now, delve into your daily operations. How efficient are the processes and how productive are your employees? Consider where machine automation can be implemented to save you time and money.
Opportunities for Sustainability Partners
68% of consumers report that a company’s sustainability practices have “at least somewhat of an impact” on their purchasing decisions. This is an amazing opportunity to deliver on customer experience and satisfaction — it’s all part of your brand.
Small businesses may not fully grasp the significance of adopting a sustainability plan and ensuring operational efficiency, including the impact of their choice of partners and vendors on consumer perception. Both consumers and employees prioritize sustainability, making it a pivotal factor in decision-making. With more than 99% of business in the U.S. being small to midsize enterprises, it’s more important than ever to give your organization that voice. This not only enhances brand reputation but also fosters economic resilience critical for long-term company stability.
Doing MORE means:
- Discover methods to enhance the efficiency of your operations to reduce environmental impact. This not only boosts sustainability but also effectively mitigates risk.
- Keep an open line of communication with your employees and what they value. They are key players in building your brand. Help them understand how sustainability builds brands and impacts purchasing decisions. Consumers want to feel good about what they are buying.
- Check out Konica Minolta’s own sustainability and corporate social responsibility (CSR) initiatives and get inspired!
Revenue Bottom Line Investments
Continuous growth is vital for the survival of every business, especially small and medium-sized enterprises. In the midst of ongoing forecasting and tight budgets, showcasing revenue growth and profitability requires careful consideration.
Each dollar must be carefully monitored, leaving many SMBs hesitant to embrace new investments — a crucial strategy for growth. To leverage opportunities effectively, they must uncover efficiencies, streamline operations and establish a robust financial foundation before venturing into new initiatives.
Doing MORE means:
- Set your ideal business outcomes for growth, where you can streamline processes to better support your workforce.
- Stay ahead of inflation and industry market trends and consider economic impact — from your customers to employees.
- Monitor your digital transformation and what stage you are in. Are you investing in the right areas that save time and lower costs, ultimately increasing your revenue?
Employee Experience and Talent Acquisition
People make the world go ‘round. Did you know that happy employees are up to 12% more productive? Customer retention is also tied to employee happiness. It may seem obvious, but it’s not always black and white. There are many factors that play into what determines happiness for employees. So, what can employers do to ensure a thriving workforce?
When strategizing for growth, business leaders must prioritize their employees as a critical factor. A stellar customer experience originates from a satisfied internal team. For businesses, it can make or break their success. Building a robust and positive workforce enhances your company’s brand, rendering it more appealing to potential candidates. With the right strategies, SMBs can successfully navigate this area of their business growth.
Investing in cutting-edge digital tools to attract and retain top-tier talent is a valuable initiative that can significantly impact overall success.
Doing MORE means:
- Productive workers are happy workers. Improve employee experience with the right technology solutions.
- Be forward-thinking with your remote/hybrid workforce with the right network and devices.
- Give your employees a voice. Align your company benefits programs with your mission and CSR strategies. It all works together to strengthen your workforce.
Keep MORE top of mind
Stagnation in today’s dynamic environment can pose risks to a business. Small and medium-sized business leaders, in particular, are juggling multiple responsibilities to drive productivity and efficiency within their teams and operations, which can be quite challenging. This is where Konica Minolta can make a difference! By providing expert guidance and insights, we assist our customers in crafting strategic growth plans through tailored technology investments, propelling their organizations towards the future. The year 2025 is approaching swiftly, so keep striving for MORE!
