Customers are the key to success in any business. No matter how brilliant your product is, someone needs to buy it. That’s why maintaining relationships with your clients is so essential, and why Customer Relationship Management (CRM) tools can make the biggest difference. Here are 6 reasons why CRM is necessary for every successful business — including yours.
Kakkuro Suite: CRM — Kakkuro’s customer relationship management system built for building and growing leads and clients — has just launched the latest feature: Org Charts. Now found under account contacts, Kakkuro Suite: CRM users can organize a company’s employee’s easily and visually.
With org charts you can see who you need to be reaching out to in order to follow a lead. Visually see the map of company employees, showing you who you need to be talking to in order to turn your leads into returning customers.
Every company has a wealth of information hidden away in their numbers. Sales figures, customer engagement, inventory counts—they’re all pieces of the bigger picture, powerful insights that can bring to light answers that help your business succeed.
We’ve all heard the saying “a picture is worth a thousand words,” and for business it is just as true. When facts and figures are swimming in spreadsheets or disconnected across a number of platforms, insights are lost in the process of trying to find them. The brain doesn’t work just looking at a table of numbers, instead it needs visualized graphs and charts, with patterns and trends floating directly to the surface.
Data visualization can turn any business into an informed success, and all you need is a way to understand the information you already have.
Starting a business can be daunting, but it only takes a few steps to get ahead of the game and on the right track towards success. Here are eight essentials every startup needs in our competitive business environment.
1. Research your market
You might have an idea for something amazing in your head, but that doesn’t guarantee people will buy it. Without full knowledge of your market, you can’t detect or understand what your potential customers actually want or need. Proper and extensive market research is necessary, and the first step towards understanding whether your idea can become a reality. Start by finding out what other products already exist and come up with a way to make your product different.
80% of small businesses fail in the first 18 months, according to Bloomberg. That’s a lot of new businesses, and in our economy, nurturing those companies is a must. So why are so many businesses struggling in their early stages? We’ve pulled together seven of the biggest reasons small businesses fail in those early months.
1. Not understanding accounting
As a small business it’s difficult to wrap your head around accounting, especially if you aren’t an accountant and don’t have one on staff. Managing your money is the first step when it comes to the success of your business, but you can’t manage what you can’t measure. One of the biggest mistakes small businesses make is not having a full understanding of their numbers. If a business is just starting out, hiring an accountant can be expensive. But, tools do exist that can give you the information you need without paying someone full-time.
8 out of 10 entrepreneurs who start businesses fail within the first 18 months. Only 4% of the 28 million companies in the US ever reach more than $1MM in revenue. Of those firms, only 1 out of 10 (0.4% of all companies) ever make it to $10MM in revenue. Only 17,000 companies make it to $50MM. The primary reason that entrepreneurs fail is because they don’t have real-time metrics and dashboards to navigate through their entrepreneurial journey. Since entrepreneurs are flying blind, just like a plane without instrumentation in the cockpit, the businesses crash and burn.