How To Build A Long-lasting Business

Office Systems Co. is celebrating its 125th anniversary this year and we couldn’t be more proud. First, it shows that our customers trust us and we’re on the right track with our products. Second, it’s harder than ever to build a long-lasting business. In 1964, companies on the S&P 500 were expected to last 33 years on average, but the forecast went down to 24 years in 2016. The prediction for the future remains concerning: The average corporate lifespan could shrink to 12 years by 2027.

What does it take to make a company last for a long time? While each industry has specific challenges, these tips apply to all kinds of businesses:

  • Prioritize your tasks. If you run a business, you can’t do everything—and, most importantly, you can’t be good at everything. As a business owner, it falls on you to organize a to-do list of tasks and differentiate urgent from important.
  • Write a business plan. Yes, you need one to help you define your business’s goals, track your results, and make sales projections. Try to keep your business plan short and concise. It’s absolutely fine if you don’t have a degree in business. Most entrepreneurs don’t.
  • Strive to provide excellent customer service. It’s easier to retain your existing customers than acquire new ones. Also, high customer satisfaction can lead to word-of-mouth advertising, which is an effective and costless way to promote your business.
  • Understand your clients’ needs. After all, you can’t provide above standard customer service if you don’t know your audience. Do your homework and you’ll find it easy to meet your clients’ demands. From a 5-minute conversation to a professional survey, try to gather data about your customers whenever is possible.

At Office Systems Co, these 125 years taught us about the importance of sticking to our core principles: uncompromised service, quality, and integrity. Our products and services might have changed over the years, but our utmost respect for our customers remains the same.

Whatever the future throws at us, we’re ready.

Let us help you manage your information through our innovative products and services. Contact us through our website or by calling (800) 779-7030 to learn more about our solutions.