Top business tips for 2015

The business climate for 2015 looks set to be tough once again as the Australian economy continues its transition from being driven by mining to the services and construction industries. There is a lot of uncertainty out there as to how 2015 will unfold. One thing that is certain however, is that businesses going into the year with a strong strategic plan with clear objectives will perform better than those who rest on their laurels.

Management For Design recently conducted our annual Business Conditions Survey, which highlights the key issues for owners and senior executives looking into 2015. You can view the full results here.

Below are 5 top tips to help your business prepare for the year ahead.

1. Use Big Data to your advantage

Big data is everywhere whether we realise it or not. Almost every action a business or consumer takes these days leaves a record. Your business should at least have a database of historical information detailing how your client base behaves in terms of project frequency, size and type. Information about prospective clients and market conditions should also be collected and collated — to be drawn on to enhance your advantages in any situation.

2. Embrace mobile

If your business has yet to fully realise the potential behind mobile technology it is past time you did. Mobile technology enables businesses to have unprecedented levels of connectivity between clients, suppliers, management and thought leaders. It can provide instant situational awareness and enable your business to act on or react to market conditions or potential problems while projects are in those crucial early stages.

3. Make your service the best it can be

One of the key findings from our Annual Business Conditions Survey was that businesses see improving their services as one of the biggest priorities for 2015. Take a good hard and — importantly — unbiased look at the features and benefits of your offering, plus that of your competitors and see what can be done to create advantage.

4. Communicate and collaborate

Ask your management, your peers, clients and employees what they think can be improved. Create an environment that is conducive to collaboration between stakeholders — sometimes people can be reticent to speak up or ask that all important question ‘why do we do it like this?’

5. Act on your findings

Last and importantly, act. Strike while the iron is hot, because you can rest assured that your competition is not sitting still!