What I’ve Learnt: Raj Singh of Crystal Ball
Raj Singh, MD of workforce management specialist Crystal Ball, on the importance of staff retention and a commitment to standing out from the crowd.
Continual Investment is paramount
Before developing the business within the telematics market, I lived and breathed one of the most highly competitive industries in the world; mobile telephony. Being involved in this high growth market made me quickly realise that you cannot stand still as a business. The rate of technological change is astounding – therefore taking risk and continually investing in your products/solutions is absolutely vital if you wish to stay ahead of the game. Showing your customers that you are dedicated to development and progression proves to them that as a business you are willing to give them something back. Investment is not just a monetary value; investment requires time, effort and an innovative mind.
Employees are your lifeblood
Having been in business for over 25 years I understand how important your employees are to your business, if not one of the most valuable assets. I believe employees are the lifeblood and I have always felt strongly about retaining loyal and hardworking staff and rewarding them for their efforts. You cannot put a price tag on a long standing committed employee; having staff you can trust is invaluable and they are irreplaceable. The longer an employee is involved in your business the deeper their knowledge and relationships which have been built over many years; these employees have a positive impact on the corporate culture the business portrays both internally and externally. I believe that without passionate, driven and hard-working employees you will struggle to maintain a successful business.
Customer communication is key
Building strong, positive relationships with your customers is key; I believe customers are core to a successful business. Being dedicated to your customers and responding to their requirements and feedback is absolutely essential in order to retain and build loyalty. Continually demonstrating to your customers that you are dedicated to improving and developing your products helps them gain trust in your business and refer your services elsewhere. Customer communication is extremely important, without regular contact you cannot maintain a close relationship, at Crystal Ball we strive to provide a strong customer service through dedicated and proactive account management and various other methods.
Differentiation is crucial
In fast-paced growth markets differentiation and uniqueness of your products/solutions becomes extremely important. Distinguishing your brand/product/solution from your competition is a must and in order to do so you must think outside of the box, drive innovation and under no circumstance become complacent. Standing out from the crowd is crucial; therefore you need to listen to your customers and respond to what they require. If you are meeting customers’ needs through the development of your products you will in turn be offering a solution that they cannot find elsewhere, it is this that becomes your differentiator.
You must switch off once in a while
As an owner of a business I sometimes struggle to switch off and recharge the batteries. However, when I do allow myself to do this I realise how valuable it is, having a clear mind is vital to being able to focus and allows us to work more productively. It can become easy to forget how important rest is when you are deeply involved in your business but whether it is a social hobby or a holiday every so often, I believe you can definitely benefit from allowing yourself some down-time.