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5 Ways Science Can Help Your Business

Science can be a great tool to improve your business, as it allows you to get objective, quantifiable evidence that you can use to make evidence-based business decisions. Here are 5 ways you can use science to help your business:

  1. Survey your employees

A great way to get feedback from your employees is to just ask them. Surveys can be a great way for you to select the questions you are interested in, and then survey employees across your company to get both quantitative (i.e. ratings of agreement) and qualitative data (i.e. open-ended responses). This can help bring to light issues within your company you may not be aware of, which could differ by department—maybe the sales employees face a different set of issues than the human resources team. You can also make your surveys anonymous to get more honest feedback than you might from a face-to-face conversation. Overall, this technique can really give you a better idea of what is going on within your company.

  1. Survey your customers

If you are designing a new product, a great way to get feedback from your target audience is to survey existing customers. This can allow you to see what they might be interested in and what might determine whether they purchased your new product. In addition, you can conduct a product test with a focus group to get their opinions on different prototypes. Getting to know your audience through their ratings of likelihood to buy as well as candid feedback can be really helpful before launching your product into the public market. Qualtrics is a great tool to survey both employees and customers and easily analyze your data.

  1. Use psychometric tests when hiring

Job applications and interviews often don’t provide enough information about candidates to decide whether you want to hire them or not. The employees you bring into your work place directly contribute to your company’s culture and overall success, so having more information when hiring is extremely helpful. Using psychometric testing can be a great way to learn more about a candidate’s personality, work ethic, and potentially their long term success at your company. There are many different tests you can use, and it depends on what you are looking for in new hires, but one great resource is the Predictive Index, which is “an untimed, free-choice, stimulus-response tool that measures a person’s motivating drives and needs” that can be used to “hire candidates who are hardwired to be a great fit, to design teams that perform like magic, and to manage employees in a way that pushes them to perform at the top of their game.” Do keep in mind that no scale is perfect and it can never truly encapsulate a person—for this reason, interviews and ‘gut feelings’ are still very important.

  1. Run an experiment

Not sure what option will work best for a particular problem in your business? The best way to find out is to run an experiment, where you can compare multiple options and see the different results. You can then use basic analysis techniques to see if there are significant differences in outcomes between the two options, products, etc. For example, you could have sales associates use two different scripts at random for 100 times each and then compare the success rate for the different scripts.

  1. Research the psychology behind your industry

Every business is run by humans. Psychology allows us to better understand the human mind, what motivates us, and why people do the things they do. One way to improve your business is to research the psychology behind your particular industry. The sales process is very psychological, and different findings from the scientific literature can be leveraged to improve your business practices and increase success. Learning about the science of psychology can really help to improve your communication skills and the way you interact with your human customers. We are all people and we are all motivated by similar things.

Bonus tip: If any of these ideas sound appealing to you, but you aren’t sure how to properly implement them in your business, hire a scientific consultant to help you accomplish these goals and provide evidence-based solutions for your business. We at The Chalifour Consulting Group offer scientific consulting services, so feel free to reach out at info@consultingandsuccess.com.

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Getting Creative

This past year, small business owners were especially impacted due to the COVID-19 pandemic. Many had to make the hard decision to shut their doors to keep themselves, their families, their employees, and the community safe. In doing this, owners were struggling with how they will pay rent, wages, and even their expenses.

Nevertheless, small business owners got creative and found ways to stay afloat when the odds were against them.

Small business owner of the City Room Cafe in Nashua, NH, Terry Wade, was just one of many affected by the pandemic. Last May, Terry closed her cafe doors to keep her employees and the community safe during a trying time. While she was closed, Terry made the most of her time thinking of new ways to adjust her business to the “new normal”. She decided this was the ideal time to renovate her cafe. She painted the walls, bought new tables and chairs, as well as new equipment for her kitchen. Not only did she renovate her cafe she also redesigned her menu and created a social media platform where she could stay connected with her customers during a difficult time. Terry was constantly updating the community on the renovation and when she was expecting to open her cafe again. Her customers were eager to be back and see the new changes. Terry was once again able to open her cafe doors in July and people were lining up to eat at their favorite breakfast spot!

Many small businesses like the City Room Cafe chose to get creative during a tough time. According to Kathy Gurchiek from SHRM, “43% of small businesses have started rethinking the way they do business since the coronavirus pandemic began, 32% have found a new way of delivering existing services, and 22% have asked employees to learn new skills to support changes in the business”. Below are a couple of ways for businesses to get creative:

  1. Social media. Many businesses are using social media to further promote their products and services. However, it’s not enough to simply create a social media presence. You need to create content that people care about. Think about the mission and values of your company and why people keep coming back. Then think of how you can use that to create content that people want to see.
  2. During a time when many people are working from home, social media has become ever so popular. Businesses can take advantage of this and create a platform where they can stay connected to their customers as well as new ones. A social media platform can regularly update customers and keep them hooked to the product or service they once enjoyed.
  3. Communication. During an uncertain time, staying connected with customers is extremely important. It’s so easy to think a business isn’t open during this time if they are not constantly letting their customers and the community know the hours and days they are open. Posting this once a week to a social media platform can increase the amount of customers you are getting.
  4. Digital platforms. For the businesses currently closed, digital platforms are a way to promote your product or service from home. For example, a yoga studio could provide live stream videos of their workouts for customers to join in on. The customer could pay for a monthly subscription and the business is still able to make money remotely. Another example would be a coffee shop that may not be getting as much business because of people working from home. Creating a digital platform where customers can buy your coffee beans, syrups, or teas would provide revenue for the business and the customers will benefit from it.

Thinking of creative ways to make money during this difficult time can be hard. However, many people in the community want to support their local businesses, so offering them a way too can be beneficial to both the customer and the business.