5 things you should consider to make your company successful

As a business owner, you want your company to grow and succeed. And there are numerous ways, tactics and strategies to get your company to the next level, but which ones you should you consider and is right for your business? We look at five things you should strongly consider to improve your business.

An Automated Product Return Feature

Any buyer will want an engaging and automated return experience if you have an eCommerce business model. eCommerce means you ship products to customers. You might also have brick-and-mortar store locations, but you make at least some of your sales through the mail.

If you set up automation for returns, that’s helpful because you can see any returns people make all in one place if they don’t like a product or it got to them in a broken condition. You can see when they put it back in the mail to you, so you will know when to expect it.

You can get notifications telling you when a returned item arrives. You can also let customers know through automatic notifications if you have any items with no-return policies.

You can even set up automated returns that come with analytic features to study. If you see patterns with customers returning particular items, you can revisit those items to see if you want to redesign or discontinue them.

A Skilled R and D Team

You will probably want to set up and fund a research and development team or department for your company. Maybe you’ll start with a few particular products or services. You’ll wait for those to catch on. Once they do, you’ll begin to generate some profit.

At that point, you can think about expanding your product lines. Very few companies want to stay with the same products or services year after year. That might bore your customers, and you want to keep them engaged.

Your R and D team should understand what products you’ll like and want to feature. If they don’t comprehend your company’s fundamental purpose, they won’t do you much good. That’s why you need creative minds in this area that know your vision.

A Reliable IT Department

You will also probably need a skilled IT department if you have at least a decent-sized company. IT stands for information technology. That’s a broad catchall term.

Your IT department members might handle all kinds of things. If you want to set up onsite servers, they can do that for you and maintain them. If you’re going to go to a cloud-based information model, you can talk to them about setting that up.

Your IT staff might set up security features for your computer network, such as password encryption, a firewall, antivirus software, or a VPN. If you don’t feel like you have enough money or IT work to justify an entire department, you can always go with an IT freelancer. That might be the more prudent move if you have a small company that doesn’t have a ton of regular IT requirements.

Smart Marketing Initiatives

You will want to focus on marketing as you attempt to get your business off the ground. Maybe you want to create TV commercials or radio spots talking about your company and what you offer. Perhaps you might focus on social media instead.

If you’re looking into social media marketing, you’ll need to do some market research to determine which platforms to use. If you know you have customers in a particular age group, you can use a social media platform that group prefers.

You might need to have some focus groups to figure out your ideal customer. Once you set up an ideal customer profile, you can market to them much more easily.

Funding

Every startup needs money, and you must figure out how to get that funding. Maybe you have enough in savings to fund the project yourself. If you feel strongly that you have a winning idea, you might sink all your savings into it accordingly.

If you don’t have any savings or not enough to start a company, you can look into getting a business loan. You can always approach a bank or a credit union and talk to them about your idea. If you can give them a business plan that convinces them you have a great idea, you can get your money that way.

If that does not work, you can look into a venture capital firm or an angel investor. However you get that money, you’ll need it to get the ball rolling on your startup.

  

  

The Full List: TIME’s 100 Most Influential Companies of 2022

TIME just released their list of the 100 Most Influential Companies of 2022. This company award is an extension of the magazine’s popular annual TIME100 list of the world’s most influential people that looks at companies making an extraordinary impact around the world.

One hundred companies were featured online today and will have a deeper story in print come Friday, March April 1st.

Full List: TIME’s 100 Most Influential Companies of 2022

The full list of companies weren’t just listed out, but were broken out into five separate categories in which TIME magazine believed them to be doing excellent work in: Disrupters, Innovators, Leaders, Pioneers and Titans. Because the “list” is broken out in this way in a design-heavy way, you can’t view the list in an easy way – that’s why we took time to create the full list of the 100 Most Influential Companies of 2022 below sorted by company name.

TIME's 100 Most Influential Companies of 2022
Company Category
Airbnb LEADERS
Alaska Airlines LEADERS
Allbirds INNOVATORS
Alphabet TITANS
Amazon TITANS
AMC Entertainment Holdings DISRUPTORS
Apple TITANS
Astroscale PIONEERS
Athletic Brewing Company INNOVATORS
Axiom Space PIONEERS
Balenciaga LEADERS
Be Rooted PIONEERS
Bicycle Health PIONEERS
Biobot Analytics PIONEERS
BlocPower PIONEERS
BYD Co. Ltd. TITANS
Calm LEADERS
Capital One TITANS
Climeworks INNOVATORS
Contemporary Amperex Technology Co. Ltd. DISRUPTORS
Curaleaf LEADERS
Disney TITANS
Divvy Homes DISRUPTORS
DoorDash LEADERS
Engine No. 1 DISRUPTORS
EV Connect LEADERS
Fading West INNOVATORS
Flexport INNOVATORS
Flock Freight INNOVATORS
FOLX Health PIONEERS
Ford TITANS
GoodRx DISRUPTORS
GoTo Group DISRUPTORS
Grammarly INNOVATORS
Green Mountain Power PIONEERS
Guild Education INNOVATORS
HOK LEADERS
HYBE LEADERS
IBM TITANS
Impossible Foods LEADERS
IonQ PIONEERS
Joro INNOVATORS
Kaling International PIONEERS
Kami LEADERS
Klarna INNOVATORS
Maersk TITANS
Meta TITANS
Microsoft TITANS
Moderna INNOVATORS
Modulate INNOVATORS
National Football League TITANS
Netflix TITANS
Nextdoor LEADERS
NoTraffic INNOVATORS
NSO Group DISRUPTORS
Nubank TITANS
NVIDIA TITANS
Nykaa LEADERS
OpenAI PIONEERS
OpenSea PIONEERS
Opibus DISRUPTORS
Orsted LEADERS
Oxford Nanopore Technologies PIONEERS
Patagonia LEADERS
Paxful DISRUPTORS
Peanut INNOVATORS
Perfect Day INNOVATORS
Pfizer TITANS
Pigeonly INNOVATORS
Rec Room PIONEERS
Reddit LEADERS
Redwood Materials PIONEERS
Rendever INNOVATORS
Revolut LEADERS
Rivian INNOVATORS
Shein DISRUPTORS
SKIMS DISRUPTORS
SoFi INNOVATORS
Sonder DISRUPTORS
Sony LEADERS
Sotheby's LEADERS
SpinLaunch DISRUPTORS
Spotify LEADERS
Starry DISRUPTORS
Supergoop! DISRUPTORS
The Pinkfong Company DISRUPTORS
The Sandbox PIONEERS
Thrive Market DISRUPTORS
TikTok DISRUPTORS
Together Labs PIONEERS
Too Good To Go DISRUPTORS
Trek Bicycle PIONEERS
Twiga Foods DISRUPTORS
United Airlines TITANS
UPS TITANS
Upwork LEADERS
Walgreens LEADERS
Walmart TITANS
Wonderschool PIONEERS
Wyze INNOVATORS

You can sort the above list by category to see where each company landed.

Congratulations goes out to every business that met TIME’s criteria. This is an exciting award and a testament to all of the amazing work that these companies are doing. How did they come to this list?  Here’s what TIME had to say about the process:

To assemble (the list), TIME solicits nominations across sectors including health care, entertainment, technology, and more from our global network of editors and correspondents, as well as from industry experts. Then we evaluate each on key factors, including relevance, impact, innovation, leadership, ambition, and success.

The end result of all that work is a varied list of 100 companies that are pushing the limits, leading and creating an new lanes that will shape how we live our lives.

 

Tagged :