Thursday, 13 February 2014

Gaining business momentum and keeping it

In high school physics, we learned that momentum is a simple “mass x velocity” formula. Out in the ‘business world’ however, momentum takes on a new meaning. Knowing how to gain business momentum and keep it can score you some easy wins. At the end of the day, if you can apply and stick to a set of key principles to build momentum for your business, long term success can be just around the corner.

Momentum = productivity x motivation

Don’t be fooled by the appearance of “motion” in your business. Activity does not equate with productivity. Employees may appear to be “busy”, but when it comes to evaluating the success of the work environment, what counts is measurable results, not the sheer volume of activity.  Achieving measurable results will keep your business moving forward and gaining momentum.

So what principles should you employ to ensure that your business environment is conducive to creating and maintaining business momentum?
  1. Set measurable targets and commit to them: many businesses find that creating a mission statement can be a useful way of keeping individuals accountable for their work efficiency. These do not have to be lofty goals. Start with small, incremental changes that build up overtime and can be integrated into your business’ bigger, more long-term plans.
  2. Communicate with influence: to build business momentum, it is not enough that you simply set goals and commit to them, being able to communicate your results to clients and to the industry is equally important. Your communication should be clear and unambiguous. Be wary of leaving too much room for interpretation and creating confusion.
  3. Prioritise your day: so many of us find ourselves with more to do in a day than we have time for. With a clear set of goals in mind, it is important that your employees understand what to prioritise in line with business objectives to keep your business in a forward-moving, as opposed to reactionary state.
  4. Celebrate your wins: at the end of the day, building business momentum is about scoring wins and achieving results. It is important to take some time to show your appreciation for the efforts and achievements of the team. Recognition of key milestones passed and key results achieved can you build a positive work environment for your business and keep your employees motivated.

A software solution for ongoing success

Building business momentum is not only about kicking start team goals. It is also a good opportunity to evaluate what tools and platforms can help your business improve its processes and hit its targets.

Do your employees have the right tools at their disposal for building business momentum? Is your company’s software set up mobile ready? Can you access critical information on user-friendly dashboards from anywhere, at any time? Can your customers get access to real-time data?

At inspHire, we offer rental software solutions that make critical business information available in an easy-to-navigate format to customers and employees. Kick-start your business momentum today by contacting us!

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