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We’ve zeroed in on the world’s top-performing companies to see how they’ve achieved their growth goals, and how you can apply the same strategies to your own business.

Refine your sales strategy: McDonald’s

From the late 1990s and early 2000s, McDonald’s restaurants in the US faced many challenges to its business model among different consumer groups, and this took its toll on the company’s sales growth and equity performance.

So what did the fast food giant do? It launched a new sales strategy with its ‘fast and convenient’ tagline to respond to changing trends, driven by consumers’ desires for healthier choices and better dining environments. McDonald’s soon began to offer a new range of healthier options on top of its existing best-selling menu.

By stepping back and re-evaluating its sales process, McDonald’s gained more market share by shaking up its strategy and interrupting the ‘neighbouring’ café market.

All businesses can kickstart their own growth by constantly analysing their own business, re-evaluating the market in which it operates, and taking note of upcoming or new trends in the landscape.

Have your competitors started introducing new products? Are they operating in new markets? Is there a gap that your company could fill with a new offering? Take note.

Smart businesses know they need to anticipate changes – which has the potential to translate into opportunities or threats, depending on your approach.

Commitment to digital technology and the cloud: Coca-Cola Co.

Coca-Cola Co. represents one of the world’s biggest consumers of cloud technology; they’re one of many companies shrinking the amount of physical data centre capacity, instead sending company data and applications straight to the cloud.

The 100-year-old organisation began moving systems into a private cloud, and now around 20% of its computing environment is hosted there. The company said it plans to move everything off premise within five years.

Cloud computing allows companies to significantly strip costs, improve inventory visibility, and raise customer service levels.

There’s just one thing the company reportedly doesn’t keep in the cloud – the original Coca-Cola formula – which is kept in a vault at a tourist attraction*.

Continually invest in people: Virgin Atlantic

“Train people well enough so they can leave; treat them well enough so they don’t want to.” – Sir Richard Branson.

Sir Richard Branson is one of the world’s best-known entrepreneurs and operates with a very specific philosophy: Take care of your people first, and profits will follow.

As an international entrepreneur, adventurer, icon, and the founder of Virgin Group, Sir Branson has successfully built an empire synonymous with creative disruption.

Sir Branson publicly cites two reasons for Virgin’s success:

challenging the status quo, and
putting people first.

Many experts incorrectly predicted Virgin Atlantic would fail – but those same people failed to understand that for profits to materialise, a company must hire the ‘right’ kinds of people who want to elevate the brand, business and customer experience.

With specific strategies in place, you can take growth strategies from the world’s biggest companies and employ them locally, enabling your business to reach new heights.

They’re all easily downloadable from the App Store and are designed to aid you in the day to day management of your hospitality business. Give them a go and see what you think!

1. Trip Advisor

This handy review site is important to monitor frequently as it allows you to quickly pick up reviews written about your establishment online. There’s no doubt you want to be the first to hear of any type of review, good or bad! . It also allows you to humanise your business by giving you the ability to participate in the conversation. You can thanks those who leave glowing reviews and it also gives you the opportunity to remedy any complaints. The bonus? See how you stack up against the competition and how you rank within your region!

2. Buffer

With the overload of information available on the internet today it’s important to promote relevant, aggregated content to your customers. Hospitality businesses cannot deny the inevitable – having an alluring online presence is now a must if you want to keep up with your competition. The Buffer App allows you to manage multiple social media account all at once. You can easily schedule content from anywhere you are and shoot it out at any time you like to whatever account you choose. Magic! Imagine the time saved loading up your accounts to send content out at specific times. It also allows you access to analytics for analysis purposes and so you can see what posts are performing best.

3. Evernote Food

Here’s one for all those Chefs’ out there! The app lets Chefs’ jot down their favorite food recipes and make cooking related notes which they can refer to later on. Not only that but you can add photos, notes and a location so you remember all your favourite dishes and record where abouts you had them! You can even share recipes with fellow chefs and post for fans or regulars to see. What better way to share your beautiful meals with the world.

4. Kudos Points

Ever wanted to tell an employee they’ve made really great progress, or that they’ve come a long way since they started a couple of weeks ago? Well look no further! Kudos Points is a peer to peer recognition system and in-house social network that runs on ALL mobile platforms. It allows a user to send and receive “kudos”, points that are given for recognition and feedback, and as a result they accumulate on a virtual leaderboard. You can load ‘company values’ and areas of recent training – an awesome way of tracking behaviour you really want to promote as a manager! It’s an easy, quick way to boost staff morale and give them some motivation!

5. Barista Kit Pro

Are you making a million coffees a day? What tools do you have in place to ensure the quality of all those coffees going out to customers? Timers can often be awkward. Designed for both baristas and cafe owners, it provides statistical feedback on quality, productivity and efficiency for up to three group heads. It stores all data by day and by 30 minute increments – then presents it to you in graphical form!The time mechanics have been designed for those baristas under time pressure, helping them to achieve consistent extractions of espresso. The ‘Purge’ function even advises when to clean. Now, how handy is that.

How to take your business to the next level