For the first time in five years as CEO, I recently asked myself, “Am I successful?”
I thought about where my company is now compared to where it was when I started. Our employee count has tripled, sales have increased year after year, quality of work has improved significantly, and our brand presence has become notable in our industry. But this only brought me to the question, “What now?”
Success is loosely defined. There is always work you can do to become more successful. Here are a few steps you could take to improve your current position.
Explore new markets
While you may be successful in your target market, think bigger. Think outside traditional markets and see if it makes sense to reach them.
For example, we saw a potential business opportunity to produce videos for finance companies. To complement and highlight our expertise in the financial industry we created a subsidiary company focusing solely on finance-related video production. This lets prospects and clients know they are working with experts in their field.
Update your company website
Your business website may be your most important marketing asset. A poorly designed website could mean a lot of missed business opportunities since it’s the first place people go to learn about what you do. Update your website at least once every six months. Stay up-to-date on SEO trends, content marketing, web analytics and make consistent adjustments where you see fit.
We researched the best ways to could improve our site, which included using Google Analytics, A/B testing, focus groups, and site traffic analysis. We looked at how people engage with our site, and how we could keep them on our site longer and convert them to clients. We believe our new design will decrease our bounce rate and get more people to send inquiries, resulting in better conversion rates.
Even if nothing is broken, never shy away from workflow improvement. Try software like Asana or Slack to get organized, and see what works best for you and your team.
We invested in organizational software for the entire company to stay on top of every project, and saw an increase in productivity almost immediately.
Invest in people
Invest in your staff. Never hire people just because you need to fill roles quickly. Take your time to find people who fit.
We really do our research and utilize online resources to find the right person for the job. As we continue to grow our brand, we’ve invested in people who can help tackle all the big changes.
It wasn’t until I asked myself if I was successful that I was able to realize all the great things our company could still accomplish. My business has broken free from the status quo. Today, we see potential in areas we hadn’t yet journeyed to before.
As an entrepreneur and a leader, I believe this mindset is essential for continued success.
This article has been edited.