I read a very interesting article in The Times Magazine by Caitlin Moran where she wrote about Starbucks and its decline over the years.
Ten year’s ago, it was the place to be seen in. Going for a coffee was a new concept, it changed the way we socialised with friends and heading to work with a coffee from Starbucks made you look cool, and gave you status.
Ten year’s later; our view of Starbucks has changed a lot. They have not modernised or updated their customer experience; in fact, some would argue that it has got worse. People now head to work with a coffee from other hip and trendy coffee house chains or independent quirky coffee shops. Starbucks took their eye off the ball – and this got me thinking about other businesses and should get you thinking about yours…
Are you letting your business evolve?
Keeping a constant eye on your business is vital to ensure future success and growth. Letting this go to the wayside could do serious damage. Just because something worked ten years ago, doesn’t mean that it will work today, as we live in a world that is ever changing and ever growing. Your clientele are becoming more savvy and sophisticated, and as a business owner you need to be leading that savviness and sophistication in order for your business to survive and grow.
Here are a few simple tips to keep ahead:
- Keep up to date with marketing – always ensure that you are up to date with the latest social media trends. Where are your clients hanging out online? Are you on the same websites as they are?
- Continue to maintain good relationships with your clients
- Grow your client base
- Keep an eye on your competitors
Ensure your business keeps ahead of the times; make sure your clients see your business as cutting edge. We are living in a world where things change so fast, clients’ expectations change and your business has to be able to adapt to that change.
Sonal Thakkar – Audit Team
Westbury Accountants and Business Advisors is an accountancy practice based in London. Westbury have been providing Accounting and Tax solutions to small and medium sized businesses since 1936. Talk to the team at Westbury on 0207 253 7272 or visit http://www.westbury.co.uk.