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Aug 2018

Staying Power: 10 ways to ensure your business longevity (part 1)

August 6, 2018
Capify Australia

You don’t want your business to just survive, do you? You want it to thrive, prosper and be a strong contender for the long haul. Successful businesses that have paved the path for you are a great point of reference for what you can do to ensure your business longevity. So too does your customer feedback and your own business savvy. We would like to give you some extra food for thought too. At Capify, we are celebrating being the first Australian Alternative Lender with 10 years in business supporting fellow small businesses. As part of our celebrations, we have put together a thought-and inspiration-provoking two-part series of tips on how to beef up your small business staying power so you can celebrate your own 10 years in business and more. Read on for the first five tips:

 

Tip 1: value company culture
Every company has a staff culture whether you nurture it or not. Company culture can be a powerful force as it sets the pace for staff engagement, productivity, retention and so much more. So one surefire way to ensure your business longevity is to value and build your company culture. At Capify, we recently threw a big staff party to recognise and celebrate our greatly valued team who have helped propel us to our 10 year anniversary. You don’t have to do anything on a grand scale. Even a nice morning or afternoon tea in the office you’re your team know they are appreciated. Our flexible small business finance loans can be a helpful way to put some extra cash towards staff celebrations or recognition initiatives.

 

Tip 2: invest in innovation

Small businesses are agile and flexible – the perfect launch pad for innovation. So don’t be afraid to colour outside the lines and chart new territory. Innovation can take the form of adapting to change, filling well-spotted gaps in your market or pioneering a new product or service. Keep your innovation initiatives fluid and ongoing too as customers are always looking for fresh ways to have their evolving demands met. Be sure to check in on your business innovation regularly throughout the year and engage small business finance solutions to help bankroll viable innovations where necessary. The returns on innovation can pay dividends in brand recognition, market diversification, business growth and so much more – all of which are the currency of business longevity.

 

Tip 3: think long-term

Avoid getting so entrenched in day-to-day business that you do not keep your eyes on the long-term prizes. What are your long-term expectations for your business? Your long-term plans should match. That means you should have a clear idea from the get-go of what your business will need, how your business will grow, how you will adapt to market changes and all other elements of how you want your business to take shape. Get the support of small business finance to support you in building the big picture for your business each and every day.

 

Tip 4: have a strong digital presence

We live in a digital age so your small business needs to fly its own flag high in this space. Having a strong digital presence is key to achieving business longevity. It is not enough to just have a website. Your online presence must be kept fresh, engaging, rich and strategically search engine optimised – which carefully selected small business finance can help you achieve.

 

Tip 5: cherish your customers

Just as it is vital to value your staff, business longevity depends on you cherishing your customers. How you do this extends beyond offering perks and special offers, though of course these help. To cherish your customers you need to recognise that their needs are constantly evolving and fluid – then your products and services must roll with the punches to match.

 

So there you have it. Your first five tips to soup up your business staying power so you will be thrilling your customers for many years to come. At Capify, we love supporting small businesses in achieving their growth goals and small business owners in realising their business dreams. Why not speak to us today about our small business finance solutions that help you step out boldly towards business growth, any time you like. Stay tuned for part two of our 10 ways to ensure your business longevity too.

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