Steps to Establish Yourself as an Industry Expert
Being acknowledged as a go-to person or expert in your field is great way to build a positive reputation that can open doors to exciting opportunities. It can help you establish new professional connections and even lead to job opportunities. The question is, where do you start? Identify your Niche Continuous learning and professional development can keep you ahead of the game, whatever your industry may be. And it’s tempting to claim expertise in the latest trends and being good about all aspects in the industry. However, focusing on a specific niche can significantly increase your chances of standing out. So, identify your unique selling point and what sets you apart from others then use that to build your personal brand. Optimise your Profile Your social media profile serves as your digital resume. If you want to use it to attract a large audience, include all the essential information about your professional background and make sure you have these essentials: Share your Knowledge If you want to establish yourself as an industry expert, you need to be able to prove it and sharing your knowledge is one of the best ways to do that. Take advantage of conference or podcast invites to be a speaker. You’ll get to attend a networking opportunity and be featured as an expert, which is a win-win. Consider regularly writing blog posts or contributing to online publications. Whatever format you choose, the main idea is to provide value to your audience consistently which helps you position yourself as an authority on a topic and attract a loyal following. But remember, when creating content, it’s not just about showcasing what you know. It’s also about nurturing a passion for lifelong learning and engaging with the community. Actively Engage with your Audience Speaking of engaging with the community, maintaining an active presence on social media helps you stay relevant and updated on emerging trends. Take the time to participate in meaningful discussions online and consider creating polls to gather insights on what your audience wants to see next. By involving them in the content creation process and getting their feedback, you can gain valuable insights into evolving customer preferences and produce more relevant content. Plus, the more you engage with your audience, the more your credibility grows. Connect and Collaborate The people you associate with can reveal a lot about you – your values and your standing in the industry. So networking i crucial in building your brand. Connect with other professionals both offline and online. Social media (especially LinkedIn) is a fast way to gain new connections. However, in-person events can provide plenty of networking opportunities that can be much more personal and meaningful. You can then maximise those connections and create a mutually beneficial relationship by collaborating on a project. Host a webinar, co-write a whitepaper, or organise an event. Collaborations are critical in expanding your reach and gaining new valuable insights that can further position you as an industry expert.
Building meaningful professional connections
Who you know makes a difference in your success. Establishing solid relationships with professionals in your industry can unlock numerous opportunities that may not be accessible otherwise. And regardless of whether you are a small business owner or a prominent entrepreneur, nurturing your connections can propel your career to greater heights. But how can you network successfully? Building and maintaining a network can be a significant investment of time and energy. Finding a strategy that aligns with your goals and capabilities is essential. You need to be able to do them and do them consistently. Here are a few tips to help you develop an effective networking strategy 1 Build your identity If you want to stand out and make a good impression on potential contacts, you need to build your identity first, your brand. What do you? What does your business stand for? What are your selling points, or what makes you unique? Answering these questions will help you grow your credibility, which is liquid gold in professional networking. 2 Set your goals Determine what you want to achieve through your connections. Are you seeking new business opportunities, career growth, or industry knowledge? Having clear goals will help you focus your efforts. 3. Identify your audience Understanding who you want to connect to and why can help you prioritise your networking strategies. It can also help you navigate the digital world to ensure you engage with the right people. You can create a sample profile of the ideal contact using these sample questions: 4. Combine Traditional and Digital Attending events, conferences, or local meetups has been a conventional yet effective way to establish a personal connection. However, digital methods provide a more convenient way to connect with more people. It’s also easier to track and automate online interactions, making networking more efficient. However, this doesn’t mean that online networking is automatically more effective. It can feel impersonal, and let’s face it, emails are easy to ignore. Striking the right balance between traditional and digital methods can help you establish and maintain meaningful connections. 5. Social media platforms Our time and energy are finite, and maintaining multiple platforms can be unnecessarily overwhelming. You need to maximise your resources and focus on where your audience is active. The type of platform you use can also affect the media and content that you’ll need to produce, so that’s another thing to consider. 6. Give-then-receive Networking is a two-way street. Offer value to others by sharing your knowledge, assisting, or introducing yourself. Don’t be discouraged if people don’t respond or reciprocate immediately, though. Networking is a long process, and you need to grow your credibility. 7. Organise your data Before you even start expanding your contacts list, you need to prepare your data management system. There are multiple CRM tools available which can help you manage your contact list and even automate interactions. 8. Practice the values of networking To achieve success in networking, it’s not enough to know the strategies and platforms. What really drives success are the values you practice. Networking requires significant investment of time and effort, but with the right attitude and strategies, it can be a rewarding way to grow your career.
Unlocking growth: Exploring new markets, forging partnerships, and prioritising customer service
My professional journey has been intertwined with the ever-evolving world of technological advancements. My experiences in the business landscape have taught me invaluable lessons about leveraging opportunities for long-term business growth. This month, I am eager to share my insights into how I harness diverse business prospects. Discovering new markets and niches Entering unexplored territory can be daunting, but real progress often lies beyond our comfort zones! Exploring new markets and niches allows businesses to expand their customer base, diversify their offerings, and adapt to changing business environments. Thorough market research is a vital tool in this process. Identifying the needs, preferences, and behaviours of potential customers is essential. Pinpointing market gaps that align with a business’s strengths and resources significantly increases the chances of finding the perfect fit. Initiating small-scale pilot projects or soft launches aids in gauging market response, refining offerings, and minimising risks without compromising the existing customer base. It’s crucial to remain open to fresh ideas and feedback as market dynamics and customer demands evolve. Forging strategic partnerships Strategic partnerships bring together businesses with synergies, complementary skills, or similar target markets. Collaborative efforts unlock numerous benefits, including accelerated growth, expanded reach, and increased profitability. Through strategic partnerships, access to a broader audience becomes attainable. Leveraging a partner’s existing customer base offers an opportunity to introduce products or services to potential customers who may have yet to encounter the brand otherwise. The collaboration allows for sharing resources, knowledge, and expertise, fostering innovation, improving operational efficiency, and generating cost savings. Learning from like-minded individuals with fresh perspectives on the industry is a bonus. Tips for nurturing successful partnerships Here’s some essential tips for cultivating and nurturing successful strategic partnerships: Prioritising customer service and retention Customer service is pivotal in creating positive customer experiences from initial contact to post-purchase support. Building lasting relationships with customers enhances retention, encouraging repeated engagement. Exceptional customer service ensures customer satisfaction and attracts new customers through positive word-of-mouth referrals. Satisfied customers often become brand advocates, enhancing brand reputation and attracting new clients. Retaining existing customers is more cost-effective than acquiring new ones. Providing outstanding customer service cultivates customer loyalty, increasing the likelihood of repeat purchases, higher spending, and brand advocacy. Loyal customers are also less inclined to switch to competitors. As I keep moving forward in the business world, my commitment to discovering new chances, building solid relationships, and ensuring customers are happy stays strong. These crucial values will guide me as I work towards lasting growth and achievement in the constantly evolving business world.
How integrating business processes creates time for growth
Greg Rynenberg has been building businesses for over 40 years but remains as passionate today as when he launched his first business at age 27. Dynamic Business sat down with Mr Rynenberg to discuss how his latest venture, Flexigrow, can help SMEs thrive despite the challenges that lie ahead. Australian SMEs are doing it tough, and the difficult times are set to continue, with the RBA predicting that economic growth will slow considerably over the second half of the calendar year 2023. Never has working smarter, converting every prospect into a sale, and closely monitoring cash flow been more critical to business survival. Mr Rynenberg’s mission is to help entrepreneurs better control and monitor their business drivers to become more profitable. The Flexigrow Business Management platform has been designed to improve efficiency so owners can focus on growth. It reduces entrepreneurs’ daily frustrations and keeps them in touch with how the business is performing. Understanding the pain points An insurance broking business is at the core of Greg Rynenberg’s business portfolio, and the brokerage also provided the genesis for Flexigrow. “As well as loving to help people protect their assets, I love to help businesses grow,” he explained. “Insurance brokers visit a lot of clients and talk to a lot of business people, and I hear all the frustrations they experience running their business. “Most entrepreneurs know what they want to do: they want to be a great electrician, they want to be a great plumber, they want to be a great management consultant. What frustrates them the most is putting all the administration pieces of the business together to make it run efficiently. You have to learn those things: I had to learn them.” An important part of Mr Rynenberg’s learning curve occurred when he launched a finance company 35 years ago, a time when business computing was still in its infancy. “Look, I’m a guy who likes to make things simple and run efficiently, and I quickly realised that computers were the thing that would make that happen,” he explained. “I looked for software for my finance company, and there was none. So, being me, I decided to engage a software business to build bespoke software. That software became the leading software for what we call premium finance throughout Australia, New Zealand, the UK, and Canada. It’s the number one software used by many of the leading premium/Fee funders today. Integration is key to productivity Having developed a taste for software development, Mr Rynenberg built and refined bespoke software solutions that could improve the performance of his business units. “The trouble with business is you have all these different programs surrounding you, but unless you’ve got a bit of knowledge, it is very difficult to integrate them. I soon learned that if my systems could seamlessly talk to each other, I could save money and time and make things run more efficiently.” “Throughout the years, Mr Rynenberg dedicated his efforts to crafting an array of software products capable of seamlessly integrating numerous business functions. “What set me apart when creating our business management tool was my first-hand experience running a business,” he explained. “This innate understanding of their inner workings enabled me to grasp how each component interconnects. And that’s the genesis of Flexigrow — it emerged from those modest origins.” Making the numbers meaningful Mr Rynenberg observed that while accounting packages are critical to your business, they are not business management tools and don’t always provide all the information business owners require to keep their fingers on the pulse. And monitoring performance is critical at present. The July 2023 CreditorWatch Business Risk Index showed the average value of invoices for Australian businesses has dropped 28 per cent over the past 12 months. B2B trade payment defaults continue to trend upward, with an 86 per cent year-on-year increase. In short, companies are writing less business, and non-payments are rising. This is where Flexigrow Business Management comes in, providing a solution designed to transform your business operations. It is an intuitive and scalable subscriber-based platform that seamlessly integrates various essential business functions, including Quoting, Appointment Scheduling, Invoicing, a Pay Now feature, and Inventory Management. “The platform provides flexibility from any corner of the world, whether you’re a tradesperson on the move or a business on the rise,” Mr Rynenberg continued. “Its versatility extends to mid-sized companies, particularly those with invoicing requirements and a demand for smooth payment experiences. “Flexigrow facilitates swift quote approvals, deposit payments, and invoice settlements through a single link. The integrated digital payment capabilities provide the seamless transactions that customers demand.” Mr. Rynenberg underlined the importance of effortless payments in maintaining healthy cash flow, a sentiment echoed by delighted business owners who’ve embraced the “Pay Now” button. Beyond financial management, Flexigrow tracks invoices, issues reminders, and manages client and inventory databases and schedules. Mr Rynenberg said that the upcoming release of a mobile application to capture expense data is just a glimpse of what’s to come. Anticipate the integration of marketing and debt collection tools as Flexigrow continuously expands its capabilities. Mr. Rynenberg concluded: “Our message to clients is clear: This is your software. Our mission is to refine it for your business’s growth. Every innovation will be tailored to fuel your success.” Business expansion tips We asked Mr Rynenberg to share his business insights with our readers. Adopt a customer-centric approach Understand your target audience’s needs, pain points, and preferences. Gathering feedback and actively listening to your customers’ needs helps you tailor your products or services accordingly. A customer-centric approach will improve customer satisfaction, loyalty and word-of-mouth referrals. Strategic marketing Having a well-rounded marketing strategy that combines online and offline efforts is paramount. Look at content marketing, social media engagement, search engine optimisation (SEO), and paid advertising. Tracking your actions and customer reactions provides greater insight. Effective sales techniques Develop a process that includes consultative selling, relationship building, and problem-solving by putting yourself in your customers’ shoes. This helps you understand the buyer journey so
Flexigrow launches Business Management software
Premium funding software firm Flexigrow has added Business Management to its product suite, a solution that uses artificial intelligence (AI) to automate tasks and increase efficiency. CEO Greg Rynenberg says he saw the benefits of automated payments and “decided to take it further” by opening up his business’ AI tools to help others. Mr. Rynenberg is also the CEO at East West Insurance Brokers and ShieldCover, and a director at Steadfast. Business Management generates invoices and facilitates payment plans Flexigrow’s Business Management app offers features that streamline the accounting process, making it much more efficient compared to traditional methods. It allows users to create and add inventory items, access client databases, and even log expenses by scanning receipts, uploading them directly to the accounting systems. All that while on the move. Flexigrow says brokers can benefit by advising clients to adopt the new software to streamline operations, lower costs, and improve customer retention. “By offering Flexigrow’s Business Management solution to your clients, you’re not only providing them with indispensable tools for business growth, but you’re also poised to benefit from their success.” “When the client’s company grows, their assets increase. The client will then have a higher insurance premium, resulting in higher income for the broker,” it says. “As your clients’ businesses flourish, so does the value of your services, creating a mutually beneficial relationship that fosters growth for all parties involved.” Flexigrow offers a wide range of solutions for project management, financial tracking, and data-driven decision-making. Grow your business with an AI integrated platform Flexigrow’s entire suite of AI tools and services are designed to making managing your business efficient and accurate. Learn more about it by clicking here. You can also request a demo to get a better understanding on how their business tools can aid you in moving forward.