The courier industry is absolutely booming these days. With so many more people are shopping online than ever there is even more room to grow. In fact, it is poised to become the leading way that Britons shop with an estimation of 75% of shopping will be done online by 2021.
Why, then, is your business floundering? Could it be market forces? Or, perhaps, is the biggest thing holding your business back actually you as your own worst enemy? Let’s explore some of the things you may be doing that could be impeding your business growth.
1 – Cash flow problems
This is a problem for many companies and is not specific to courier businesses. However, it could be a problem afflicting yours without you even realizing it. A too high outlay of cash can seriously inhibit your growth and may even bury your company if you aren’t careful.
Take a careful accounting of your expenses and see where you can save money. For instance, you may be paying too much for your van insurance. Have you tried to compare rates? Insurance costs are dropping at a rate of about 2% in the last year alone. (Source: moneyexpert.com | van insurance)
2 – Too much liability
A safe workplace is not only good for the health and wellbeing of your employees, but also your bottom line. Workplace accidents can usually be prevented and will dramatically reduce your liability insurance when you have fewer claims.
3 – Behind the times
As technology becomes more ubiquitous in business, if you aren’t keeping up then you are falling behind. Take logistics, for instance. With the right software you can track your vehicles and save gas, find the fastest route to your customer by avoiding traffic and even save on your van insurance.
4 – Not using the right marketing
If you are not taking advantage of everything the internet has to offer when it comes to marketing, then you are leaving a lot of money on the table. Inbound marketing is essential for local and small businesses. It is a cost effective way to beat the competition even when that competition is the big name in the courier business. It allows you to target your customers precisely and in such a way to ensure that they become faithful and long term business.
5 – Poor customer service
People don’t usually have any unreasonable expectations regarding their package delivery. They expect to receive what they ordered on time and undamaged. When things don’t happen according to plan, it is your job to make the situation right. Many people damage their business by overcomplicating the procedure to make customer issues right. A little understanding goes a long way so make sure you are brushing up on good customer service techniques.
Final Thoughts
Don’t let your business fail without trying to evaluate why it is not growing. Sometimes the answer as to why is staring at you in the mirror. Evaluate what you could be doing better and then put it in action.
