Owning a business is a wonderful thing. When you look back on where you started it can be quite overwhelming to see how far you have come. You will have launched products or services, employed more staff, and will have been recognized for what you do. But there’s always more to do when it comes to business and you can’t stand still – your competitors certainly won’t be!
Perhaps you are thinking about growing your business even further now that you have the basic structure in place to build upon. If that is the case, here are a few things that you could implement during the process…
If you have been relying on a recruitment company up until now, maybe it is time that you brought the process in-house instead. A part-time or full-time member of staff could look after all of the human resource functions such as taking on new people and handling salary payments. This could free up your time to do your role to better effect which is to make sure your business as a whole is moving in the right direction. It would also remove the need to pay fees to external recruiters, which can sometimes feel quite expensive
More robust reporting
Now that you’re getting more staff and spending more money, you’ll want to know all of the numbers when it comes to your business. Ignorance certainly isn’t bliss when it comes to owning a company, so do your research and put everything from fleet management costs to sales figures into comprehensive reports. You should be able to figure out how much you can spend, how much you need to make, and what would constitute “success”.
Once you have compiled your weekly or monthly report together, it is time to share it with the senior management team or your board of directors. Sit down around the table and share the results on a slideshow, stopping to have a discussion about each one. It is normal for these meetings to take at least half a day so you might want to have coffee and lunch ordered in so your energy doesn’t start to deplete. These meetings are vital to monitor and nurturing growth and will allow you to make important changes in the future.
Finally, think about improving the facilities within your business. This could include a complete overhaul of the computers that are used in the office, or simply providing a space for staff to relax during their lunch hour. These little things can make a big difference to the happiness and well-being of employees, and they are also quite good tools for recruitment too. Get a couple of companies in to give you quotes for the work you would like done, then seek references before picking one to do the job. It’s ideal if this can get done over a weekend so staff is not disrupted when they are in the office.