Business growth secrets from top execs
Automation, networking, shared experiences, and more
Are you craving growth but stuck where you are due to a lack of resources?
Have you given automation a try?
Let’s look at the processes you could automate to help foster growth and creativity.
Today’s agenda:
🪴 Is automation the key to growth?
📈 Growth secrets from big-brand execs
👫 Consumers want shared experiences
💼 Briefly — our quick news roundup
⏱️ Up & coming
These essential processes should be automated
Stop ignoring automation, says entrepreneur and self-professed “growth hacker” Solomon Thimothy for Forbes.
Many businesses are working with thin profit margins — meaning hiring more people isn’t an option.
👉 Instead, adopt automation for these processes:
Onboarding clients
Managing projects
Processing invoices & payments
Marketing/social media
Data collection and analysis
Thimothy says to leave “boring, repetitive” tasks to automation and give the creative work to your employees.
He also advises not using automation until your team knows exactly what it wants.
What top execs say you should do to grow
Entrepreneur has a “Champions of Small Business” list including Mastercard, Intuit, LegalZoom, and more.
The staff asked companies on the list to identify what they want small business owners to know to grow.
🗣️ Here’s what some of them said:
UPS: You don’t have to do everything yourself — build a network to complement your strengths
Mastercard: Offer customers payment choices via automation
AirBnB: Extend a small, meaningful gesture to show you care
Here’s a real-life example for the last tip: A local real estate agent sends out postcards every month with a different recipe for readers to try.
Remember — it’s the little things.
Shared experiences > quality experiences
Harvard Business Review recently published research in the “Journal of Consumer Psychology” that revealed how consumers will choose a lower-quality service if it means they can be close to a partner during an activity.
🔑 Key takeaways:
People want to create and share memories with people they know
Consumers tie physical proximity to the creation of these memories
People will still choose a lower-quality experience if it means they can share it with another person
When people share a negative experience together, it is perceived as even more unpleasant than if they had been alone
In response, companies should consider perks or benefits for partners.
If this is unattainable, then it might help to reframe the solo experiences to make them more positive.
🤔 How could this research apply to your industry?
Briefly
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📰 Rupert Murdoch steps down as the chair of Fox and News Corp.
📱 Best practices for SMS (text message) marketing
🔗 What can link-building do for your business? Read these beginner tips
💼 Latest jobs data suggests the Great Resignation may officially be over — but the driving forces remain
Up & Coming
Bank of America says an impending government shutdown might keep the Fed from raising rates in November because they would be “flying blind” without any new inflation data since the September meeting.