The Importance Of Precision In Business
If there’s a collection of words that’s anathema in business it’s… “Meh, close enough!” In business, no matter how large or small, precision is the key to success. One cannot stress the importance of precision in business on an all-around basis. Let’s look at a few points in this contributed article.
Precision means keeping a tight rein on the things which could cost you money if allowed to spiral out of control. This includes crossing the letter ‘T’ and dotting the letter ‘i’ and keeping a watchful eye on all the little things that add up to make the big things.
Precision means keeping a tight rein on the things which could cost you #money if allowed to spiral out of control.
This includes ensuring clarity and consistency with your communications, both internal and external. This includes cutting down on wasted time trying to chase down bad leads and going straight for the solid prospects.
Here we’ll look at just some of the ways in which precision, control, continuity and consistency can make or break your startup…thus you can easily see the importance of precision in business.
Precision In Inventory
Have you ever stopped to consider why sandwich giant Subway uses the term sandwich technician when describing their employees?
Perhaps it’s because they want to ensure that their customer facing employees use a technical mindset when composing each and every sandwich that’s enjoyed on site. You’ll notice that everything that goes into your tasty snack is made using very specific pre-packaged measurements.
You want more, you got to pay extra. While it’s less than ideal from a consumer standpoint it doesn’t take much extrapolation to see the business sense. They’re simply ensuring that inventory is properly managed.
Whether you’re using industrial weighing equipment to measure building materials by the ton or putting diced chicken into single serve portions, you’re exercising precision control over your inventory. This not only helps you to guard against waste but project future profits with pinpoint accuracy.
Precision In Procedure
The broad strokes may be what gets the job done, but in all business procedures, especially customer facing procedures, it’s the little things that make all the difference.
How many times have you been put out when your barista doesn’t offer the same smile that your predecessor got, or when you’re the only person in line not thanked for their business?
The little things make a big difference to your customers which is why procedures need to be clearly communicated to all employees with pinpoint accuracy, which brings us to…more precision in business tips!
Precision In Communication
Precision goes a long way in both internal and external communications. A lack of precision in internal communication can lead to misinterpretations and potentially costly mistakes. It can undermine your standards and prevent you and your employees from being the best that you (and your team) can be.
Likewise, a lack of precision in terms of your external communications can undermine your brand and your professional image, not to mention your relationship with your customers. That’s why every word that goes into your website or social media or outbound written communication with customers must be carefully proofread.
Precision In Your Pipeline
Finally, it’s important to handle your sales pipeline with precision. You must be precise not only in which prospects you’re targeting but in how you manage your pipeline. Identify your target customer profile and stick within that niche. Unless you tap this vein to the point where it has run dry, the more you deviate from this, the more time you’ll waste in chasing down poor prospects.
Moreover, using a CRM tool to ensure that your relationship with these premium prospects is well maintained is a great way to capitalize on your precision targeting.
Whatever the nature of your business, precision is power!
Images courtesy of Pixabay and Pexels.
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