• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • RECOMMENDED BOOKS
  • FREE TOOLS
  • CONTACT US
  • ABOUT

The Fortunate Investor

Investing, Business & Personal Finance For Wealth Builders

  • Save Money
  • Invest Your Money
  • Get Out of Debt
  • Making Money Online
  • Family & Money
  • Taxes
  • Business
  • Retirement
    • Retirement Calculator
Home » 3 Internal Ways To Bring Your Business To The Next Level Of Success

3 Internal Ways To Bring Your Business To The Next Level Of Success

April 15, 2021 By The Saving Gal | This article may contain affiliate links. For more information visit our Disclosure

Tweet
Share
Pin
Share
Share

3 Internal Ways To Bring Your Business To The Next Level Of SuccessWhen companies think of growth, they don’t always differentiate between internal and external strategies. However, there is a significant difference between both approaches. When you deploy an externally targeted approach to growth, you essentially build your company outwards. It’s likely to have an immediate impact on your local market because the changes are “immediately” visible. 

For instance, one of the most frequent external growth strategies consists of building a partnership to reach out to a new market, whether at a national or international level. Say you are a B2B company that targets a specific demographic within your market. Partnering with a complementary business could broaden your reach, even in your local market. Yet, internal growth, on the other hand, plays a huge role in your brand reputation and positioning. The changes may not be out there for all to see but they reshape your brand profile, values, and processes significantly. It’s important not to confuse internal growth with recruitment. Internal growth generates a transformation process within the company while recruiting new employees typically expands your skill pool without redefining the brand. Here are 3 internal ways to bring your business to the next level of success. 

Change your database management system 

Your business uses data every day for all sorts of operations. Therefore, it makes sense to keep the data streamlined and accessible to deliver high-value performance. It can be advantageous to transform your database management system to bring data from different sources together on a meaningful and manageable platform. Indeed, most businesses don’t use their data properly and many fail to consider all their data in future decisions. Consequently, the introduction of a data management solution that provides visibility, accessibility, and full analysis will transform all data-focused strategies. 

Change the boss

Admittedly, we have explained that the recruitment process is not an internal transformation. There are, however, exceptions that need to be considered. Indeed, a change of management will affect the direction of the company, its strategy, and its interactions with the audience. That’s precisely the reasoning behind the Todd Perry UBS change that happened at the end of last year when UBS’s wealth management office in LA recruited Todd Locicero to replace Barclay Perry. Locicero brings his long experience in private wealth management of high net worth investment assets in a banking institution to the private company. Clients are unlikely to notice a change in pace, but the purpose of the move is to create a strong support structure to support further growth. 

Change the workweek

The pandemic has transformed the typical office mindset. Companies have encouraged remote work whenever it was possible. Some businesses have also seized the opportunity to cut down on working hours, promoting a four-day week. The four-day week solution is unique in the sense that it genuinely drives productivity forward, despite working less. According to countless studies, it can actively elevate the team’s mood, cut down stress, and boost overall happiness. All combined, the benefits are strikingly noticeable: The productivity is increased and the work quality is superior to a five-day week. 

In conclusion, changes that occur within the company’s structure and processes can have long-lasting effects on the brand’s reputation, productivity, and growth. In short, if you’re going to build a successful business, you have to build it from the inside out. 

  • About
  • Latest Posts
The Saving Gal
The Saving Gal
The Saving Gal
Latest posts by The Saving Gal (see all)
  • Five Reasons Gold Bars Are A Wise Investment - March 22, 2022
  • How to Take a Holistic Approach to Employee Productivity - February 21, 2022
  • Business Theft: It Can Happen To You! 7 Ways To Protect Your Business - February 14, 2022

Primary Sidebar

Popular Articles

What to Know About Gold IRA Companies

What to Know About Gold IRA Companies

In contrast to today’s more turbulent stock market, gold has recently been shown to be a source of … Read More about What to Know About Gold IRA Companies

rent high

Why Is Rent So High, and What Should Investors Know?

Are you an investor looking to make solid investments? If so, you need to know about the current … Read More about Why Is Rent So High, and What Should Investors Know?

types of ETFs

Do ETFs expire?

Exchange-Traded Funds, shortened to ETFs, are investment vehicles that allow investors to purchase a … Read More about Do ETFs expire?

portfolio

4 Tips for Building the Best Investment Portfolio

The pandemic forced around 9% of Gen Xers and about 14% of Millenials to borrow against their … Read More about 4 Tips for Building the Best Investment Portfolio

Useful Tips for the Growth of Your Business A Comprehensive Guide

Useful Tips for the Growth of Your Business: A Comprehensive Guide

Business growth is essential for any company, regardless of its size or stage of development. But, … Read More about Useful Tips for the Growth of Your Business: A Comprehensive Guide

Footer

TOPICS

SAVE MONEY
INVEST MONEY
REDUCE DEBT
MAKE MONEY
FAMILY & MONEY
TAXES
START A BUSINESS
RETIREMENT

THE FORTUNATE INVESTOR

ABOUT US
ADVERTISE
CONTACT US

The Fortunate Investor focuses on personal finance topics to build wealth. Topics include saving money, investing, managing debt, family and money, taxes, making money, college planning, starting a business, coupons and retirement.

SOCIAL MEDIA

FACEBOOK
TWITTER
PINTEREST
INSTAGRAM
YOUTUBE

Copyright © 2022 Fortunate Investor. All Rights Reserved. | Disclaimer & Disclosure | Privacy Policy | Terms of Service