Any small business that is run correctly these days knows that they need to always move forward. In order to grow the actual organization, and hopefully be able to have it support major salaries as well as major projects, you have to be thinking about the future. This means that you can’t just take the big business attitude and disregard costs, you have to move forward every step of the way as though your business was a startup, even if it is well on its way to making it to the big time. When dealing with cost and other information systems, these are the top tips to remember.
Every Decision Has a Cost
You have to try to say yes at first to as many people as possible, because building your group’s reputation is great. You also want to get your foot in the door, make contacts, and even refine your service when you are first starting out. That being said, if your decisions aren’t getting the firm ahead and aren’t helping it to grow or make a profit, then you could technically be spinning your wheels and possibly even losing money.
When you think about the fact that many small business owners have to put in the major hours at the beginning of their careers just to break even, you already know how much work needs to be done. That being said, if you are working long hours for low pay then you might be making less than minimum wage when it is all said and done. Consider the potential costs of every decision whether they are quotes for sales, costs for expansion, or even for bringing on additional talent. Every decision will affect your wallet one way or another, after all.
Always Get the Jump on Service
When it comes to any single aspect of your operation, people will expect timely service. The one way that you can improve upon this is to follow up on those expectations by surpassing them. Service is not just something that people will trust in general, but when it comes down to the current day and age there is now a much stronger demand and need for service than there has ever been. Despite the fact that you live in a world with interconnected individuals and many things that are “on demand,” there are still call centers that are overseas, as well as and representatives that are minutes away.
If you can focus on your organization with the mindset of always being available and always being ready to support your product or service, then you will win over customers for life. The reason is that people will pay good money to know that they have help at the other end of a line when they truly and desperately need it. When it comes to face-to-face video for example, the fact that Blue Jeans video conference call for IT has taken off like a rocket just continues to prove that people will put service before pinching pennies any day of the week. The reason is simple and that is because you truly can’t put a price on service.
Having Employees Buy in with Ownership
Whether your organization is comfortable actually giving shares of ownership away may be something that you need to figure out. However, if you are a small organization of only a few people, or a company that has hit three (or four) digits, then the same criteria will apply. You have to have employees working for you who are not only comfortable with the overall idea of what your main goals are, but also want to help reach those goals because they believe in the plan.
Companies that spend more time listening to their employees instead of thinking that they can just tell their employees what to do not only see greater returns, they are just better places to work in because of their atmosphere in general. It’s no wonder that people can not only seek out companies that will treat their employees right, but those same people will also wind up improving the organization even further in many cases. Finding a way to have true employee buy-in isn’t just a goal for every startup, but it should be a goal for every organization.
Regardless of your company’s size or the general corporate structure or goals, there are significant opportunities for every individual business owner and management team alike to exponentially increase the value of their organization. The keys are to continue thinking lean and to continue pressing the issue of growth so that you can maximize the value of your efforts, and be able to hit it big when it comes to growing your ownership and stock price. Any corporation is just a means to generate wealth, so you should do everything possible to maximize yours.