It’s common knowledge that Canada’s economy is powered by entrepreneurs including SMME (Small Medium and Micro Enterprises) which are often touted as the backbone of the economy. Entrepreneurs are designed to make their businesses appealing to their target audience, but they cannot do this alone. They need the help of others in the form of hired hands or employees. This is where the key of putting people first comes to play.
The steps to a successful business setup are not usually clear cut or spelt out for every business owner or startup, but they’re achievable and obtainable, even within a short timeframe.
Let’s consider some of the strategies that prove that a people’s first approach to business is one of the essential keys for new businesses to establish themselves successfully.
A People-focused Marketing and Promotion Strategy
After production, the next step for any business owner is the marketing and promotion. Bearing in mind the targeted audience. With this well spelt out, the business will have an easy job of reaching their consumers directly. The most successful businesses are those well thought out to solve a need in society. And it doesn’t matter what the business is–if there’s a target market, it is most likely to succeed.
A People-focused Product and Innovation Strategy
Although, there has been instances where businesses have been born because of the sheer passion of the founder to fulfill a particular dream, only for the business to grow and catch on because people realized that the service is one of those things they did not realize they needed. Case in point include disruptive business models like Airbnb and Uber, to mention a few.
Then there’s the factor of business owners who think outside the box to innovate niche products and services targeted at a selected portion of the society. This they do with the understanding of putting the needs of this particular group above their own selfish interest or gain. A perfect example includes privately run caregiver establishments.
Market survey is another strategic solution that enables startups to improve on already produced goods and services. This can be done through figuring out and prioritizing the needs of the target audience, and how the company can better service them.
The Importance of being a People-centric Business.
Product testing for the purpose of putting the needs of the consumers first is an essential key to better quality products and services.
As a new service focused company, a people first approach ensures that long-lasting business partnerships are established between the startups (owner + staff) and clients.
Adopting a People-focused Work Culture
Other aspects of the concept of putting people first in business (otherwise known as a people-centric culture) as a means to a successful business are the application of human resource policies that drives the company culture.
This can translate from best policies to company culture that fosters growth opportunities for employees and staff, and corporate social responsibility initiatives with your staff at the forefront, which creates an avenue of excitement and diligence towards ensuring that the company’s goals are continuously being met.
It also helps with attracting top talent to your company. This in turn will drive innovative ideas from your staff into the business space. Which ultimately ensures positive contributions towards the growth of the company, all because of the value placed on them.
Additionally, this strategy contributes to evaluating the business focus. When the focus of your business shifts from the bottom line which more often than not is profit, to the people contributing to the growth of the business, success is assured. Happy staff and great product leads to happy clients, thus translating to growth. It’s all a free-flowing recipe for success. Putting people first is the surest way to ensure that your startup business not only grows but flourishes.
Happy Customers Equals Successful Company
When businesses experience repeat customers, it’s often a direct result of the customers very first encounter with the establishment, usually, by the careful thought put into the design and development of the product that ensures those consumers needs are satisfactorily met. It could also be the result of an excellent service by staff rendered during the course of the transaction, leading to a happy clientele—a win for the business.
All of these strategies working cohesively translates to a very satisfying business relationship for all parties involved.
Chinenye Emezie | Contributing Writer
