Five ways to improve your business for 2016
By: Connie Laughlin
There are two main objectives if you’re in business. One is to continually improve your service or product; and the second, that’s equally important, is to continually perfect your methods to earn the most net profit or gain. The strategy for sustainable revenue production is the lifeblood of your business, and it mandates equal time and attention.
For you to truly find success in both areas, you must narrow your focus of undertakings to only these two objectives. The less you have on your plate, the more attentive you’ll be to goal obtainment.
To gain more focus, you must first simplify all business processes. It’s written that we spend less than 25 percent or our workday doing what we went into business to do. That means we are spending 75 percent of our time doing other things. So, you see the necessity of driving our focus to just our key priorities.
Well define your strategies, and, of course, don’t forget contingency plans to ensure long-term sustainability. Every periodical these days features articles on time management. But you’ll find there’s no better time management strategy than to eliminate the majority of duties that keep you from doing your most important job: making financial success!
Every business finds there’s plenty of labor involved in keeping up with worksite employee law compliance, employee administrative duties, liability issues and risk management strategies, paying taxes and performing audits and so forth. Don’t waste any more of your precious time with it – outsource all of it!
Farm out administrative stuff to professionals who are bonded, licensed, highly trained and certified so you’re absolutely sure your business is in the right hands from a risk management standpoint. For example, you wouldn’t want to handle a tax audit on your own, so your best choice would be to hire bonded pros with familiar references that you’ve personally verified.
Contract out things that you didn’t go into business to do. If you own a service shop, you shouldn’t be working in the office all day to oversee or run tax reports, handle payroll administration and create personnel policies. Don’t do it or oversee that it’s done, because either way, it’s still on your to-do list.
Streamlining all your processes keeps your focus on your main objective, and today, that’s how to make more with less. Tailor a business plan that allows you to successfully navigate periods of dire recession to developing great wealth during the upturns. It takes wise judgment in spending and planning to accomplish this, so you see why you’ve got to get tight grip on where your time is spent.
It takes a calculative and creative thinker to be continually reviewing options and looking for hidden opportunities. Have total control – not the micro-managing type, but overall organization knowing the absolute best business plan is in place for economic growth and risk management. A business owner must make certain the long list of human resource and risk management requirements and needs are met. Being uneducated is no excuse.
Your strategic processes always need financial accounting and organizational control through every stage, from conception to execution. Ensure your vision is well understood by employees who will carry forward your mission.
Build on the strengths of your business creating a unique experience that only your group can provide clientele. What can set you apart from the others?
A keen eye on customer service is mandatory! Ensure your employees are trained on how to proactively engage with clients. There are a multitude of outstretched hands for every dollar; assure your clientele are ecstatic!
There are hundreds of training courses companies should be utilizing for improving personnel skill sets. The course material ranges from how to effectively handle email to OSHA training for blue-collar environments. Every business leader should have ongoing training programs in place; it doesn’t matter if you have two employees or 200. Employees are an asset; take care of them.
Could your business use a minor facelift? Don’t let outdated furnishings and shabby décor be the face of your business. Inexpensive exterior facades, interior paint, furnishings and flooring might be a good idea.
Is it time for a professional to review all your HR needs, from legal posters and employee handbooks to benefits and employee performance reviews? Safety assessments can uncover areas that need immediate attention. Specialized tax auditors can find overpayments. Are you covered appropriately with your various insurance programs? While weighing your options, make sure you’re working with the best in their field of expertise for a low and contained cost.
Before the year ends, find your focus!
Connie Laughlin is a business consultant for UniqueHR. For more information on outsourcing your human resources to a PEO, you may contact her at 361-852-6392 or firstname.lastname@example.org.