New York, May 4, 2023 – According to World Economic Forum, smaller businesses represent 90% of all companies and are responsible for nearly 70% of both jobs and gross domestic product (GDP) worldwide. At the same time, research shows that 67% of SMBs fight for survival. Pipedrive’s VP of Sales Sean Evers shares strategies that small businesses can adopt to improve their operations.
Avoid negative cash flow
The better the small businesses structure their financial planning, the less likely they get into financially turbulent times. A clear understanding of the company’s financial health helps to make the right business decisions. As the lifeblood of a business, managing revenue the right way is essential for daily operations and growing the business without the need to make decisions solely to stay afloat.
Customer obsession is key to success
If you truly understand your customers, you can build your product or service according to their actual needs and increase the chances of market success. Gathering customer feedback and mapping why customers buy your products or services, how they use them and what they like about them help to build a truly customer-centric product.
Pipedrive's VP of Sales, Sean Evers, shares tips on how small businesses can thrive
Don’t forget to set and measure KPIs
Setting and measuring KPIs (key performance indicators) enable you to track performance, understand your strengths and weaknesses and define where is room for improvement. To keep your team engaged and motivated, use smart and actionable metrics. Clear, relevant, measurable and achievable goals empower the team and help to grow the business.
Adopting the right digital tools makes a difference
Data from Pipedrive's State of Sales and Marketing report indicates that sales professionals who adopted the technology and automated their sales and marketing tasks were 16% more likely to achieve their sales targets. They were also 22% more likely to be satisfied with the available tools. The right CRM platform helps to automate administrative tasks, identify key data insights, improve customer relationships and boost productivity – making anyone more successful.
This week, Pipedrive celebrates Small Business Week 2023, honoring the vital importance of small companies driving the economy worldwide. The celebration aims to provide companies with useful tips on how to thrive at challenging times and take their business a step further. To be part of Pipedrive Small Business Week 2023, please follow the company’s LinkedIn profile or search for smart and easy-to-adopt ideas from Pipedrive Learn. The celebration takes place throughout the week, with a focus on May 2-5.
Founded in 2010, Pipedrive is the easy and effective sales CRM that helps small businesses grow. Today, Pipedrive is used by revenue teams at more than 100,000 companies worldwide. Pipedrive is headquartered in New York and has offices across Europe and the US. The company is backed by a majority holder Vista Equity Partners, as well as Bessemer Venture Partners, Insight Partners, Atomico, and DTCP. Learn more at www.pipedrive.com.