Key trends in Business Analysis for small businesses

Keerthana By  October 28, 2021

Hello amazing business builders!

Running a small business in Tamil Nadu is an art, isn’t it? Every day is a new challenge and a new opportunity. But how do you make sure your business grows stronger and smarter? The secret lies in understanding your business deeply, which we call Business Analysis. It’s like checking your health regularly to stay fit.

For our wonderful entrepreneurs, marketers, and leaders in India, especially here in Tamil Nadu, let’s talk about some easy and powerful trends in Business Analysis that even a small shop owner can use to shine bright!

1. Making Decisions with Simple Information (Data-Driven Decisions)

You don’t need a big computer or a data scientist. Your everyday sales numbers, customer calls, or even what sells out first – that’s all information! This is about using simple facts to make smart choices.

  • How it works: Imagine Mrs. Lakshmi, who runs “Lakshmi Sweets & Snacks” in Madurai. She noticed that during evenings, more people buy her traditional ‘Adhirasam’. By just looking at her daily sales book, she decided to make more Adhirasam in the evenings. This simple check helped her sell more and waste less. That’s data-driven decision-making!
  • What you can do: Keep a simple record of what sells, when, and who buys it. Even a small notebook or a simple Excel sheet can tell you big stories about your business.

2. Putting Your Customer First (Customer-Centric Approach)

Your customers are your biggest fans and best teachers. When you focus on what they truly want and need, your business will naturally grow.

  • How it works: Consider Mr. Velu, who owns “Velu’s Herbal Products” in Coimbatore. He started a small WhatsApp group with his regular customers. He asked them what new herbal soaps they would like. Many asked for a specific neem-based soap for sensitive skin. Velu listened, made the soap, and his sales for that product went through the roof! He made his customers feel heard and valued.
  • What you can do: Talk to your customers! Ask for feedback, listen to their complaints, and understand their needs. Simple surveys or even a chat can give you golden insights.

3. Being Quick to Change (Agile Business Analysis)

The world changes fast, especially in business. Being ‘Agile’ means being ready to change your plans quickly when new things happen or when you learn something new.

  • How it works: Take for example, “Anbu Fashions,” an online saree store run by Ms. Priya from Chennai. During a certain festival, she saw a sudden demand for lightweight, everyday sarees instead of heavy silk ones. She quickly changed her website’s main display, promoted the lighter sarees, and even contacted her suppliers for more stock. This quick change helped her capture the market’s mood and boost sales.
  • What you can do: Don’t stick to one plan too rigidly. Always be ready to test new ideas and change if something isn’t working or if a new opportunity comes up.

4. Using Simple Technology (Technology Adoption)

Technology is not just for big companies. Simple tools can make a huge difference for your small business.

  • How it works: Look at “Murugan Provisions,” a small grocery store in Trichy. The owner, Mr. Kumar, started using a basic billing app on his phone. It helped him track sales, manage inventory (what he has in stock), and even send digital receipts to customers. He also uses WhatsApp Business to take orders from nearby homes. This saved him time and made his customers happy.
  • What you can do: Explore simple apps for billing, managing customer lists, or communicating with your team. Even social media platforms can be powerful tools for business analysis by showing you what people are talking about.

5. Finding Your Special Spot (Niche Market Focus)

Instead of trying to sell to everyone, sometimes it’s smarter to sell to a specific group of people who really need what you offer.

  • How it works: Consider “Healthy Bites,” a small bakery in Erode run by Mr. Ganesh. Instead of making all kinds of cakes, he decided to focus only on gluten-free and sugar-free options. He targeted people who have specific health needs or dietary preferences. His bakery became the go-to place for these special items, and he built a loyal customer base because he served a specific need very well.
  • What you can do: Think about who your best customers are. Can you focus your products or services even more to serve them perfectly? Sometimes, being the best for a few is better than being average for many.

These trends are not just fancy words; they are practical ways to make your small business in Tamil Nadu stronger and more successful. By looking at your data, listening to your customers, being ready to adapt, using simple technology, and finding your unique spot, you are doing powerful business analysis!

Start small, try one thing at a time, and see your business grow!

Happy building!

Make a Comment

Your email address will not be published. Required fields are marked *

Let us help you get your project started.

Contact

 +44(0)20 3156

 

 +1 866 512 0268

Start your project