Business stopped booming? You need to ask yourself these questions
Business is complex; there are many different areas that have to work together in harmony. If one area is failing or goes wrong, it could spell disaster for the business in general. If you’re not doing as well as you think you could be, here are a few areas that you could address.
Do you have the right employees working for you?
If you’ve been through recruitment, interviewing and training candidates before, you will be well aware of how difficult it can be to find the right people for your company. Not only do you need to attract the right people- trustworthy, hardworking, experienced and good at their job- but you need to keep them too.
When your employees don’t pull their weight or work hard for your business, things will suffer tremendously so it’s something that needs to be right.
Offering good employee benefits like health and life insurance, dental and disability plans and pension or retirement packages will all attract the best candidates. If you offer training and education this is also something that will appeal as candidates know they will be able to improve their skills.
A company car, phone or laptop could be an option depending on the roles you’re hiring for. Work out what would gain you the best employees while making sense financially for your business.
Other things to consider would be team building events, as well as work well on their own, your staff should be team players. Good communication and trust will make for the smooth running of your business and prevent things like workplace bullying and other unpleasantness.
Finally, you should be a good boss who is prepared to listen to your staff. Research has shown that being a stern boss can actually increase workplace stress and reduce productivity- so while you should maintain professional boundaries this is something worth bearing in mind. Take any queries and complaints on board, if you are approachable to your staff, issues will be brought to your attention and may get sorted much more quickly.
Are you utilizing business software?
As well as having the right people to work in your business, these people need the right tools. If you’re still using manual methods to run different areas of business, you could be putting yourself in jeopardy. You could be wasting valuable time as well as risking human error. You may well be paying additional staff for their time on a task which is something a computer can do in minutes and for free.
Customer Relationship Management software is one kind of software to consider, it’s a great way to impress your customers as it gives them a personal experience. It can give the impression that you know your customers personally by emailing voucher codes on birthdays, recommending products based on their past purchases or items they’ve looked at, it can even target ads to their preferences. Human Relations software is another way to save time and money in your business.
HR software includes things like absence management to employee records and general advice on employment law. It can help to plan shifts if for example, you have utilized a rotating schedule as a way to boost productivity, this allows you to easily keep track of everything. With good software, there’s no need for paper diaries which are bulky and easy to damage or lose. Everything is all in one place which can give you peace of mind that you’re managing staff well and following the law properly.
Speaking of the law, there are lots of legal issues you might come up against when it comes to running a business. It could be general help and advice, or you may need to create legally binding contracts with customers.
If you seek legal help each time you need it, it can be costly- legal software can save you a lot of time and hassle. It can allow you to create things like contracts which are legally bound with e-signatures, as well as provide general help and advice when it comes to your business.
There are always going to be situations where you need an actual lawyer, but this way can keep down the time and costs for many legal areas. Accounting software is another to consider. Manual bookkeeping is tedious, time-consuming and prone to human error. If you mess up and the government believes this was done on purpose to avoid tax, you could be looking at a prison sentence.
Accounting software helps with the daily bookkeeping in your business, it means you don’t have to pay a member of staff for the hours of work since the computer can do it all in minutes. You will still need an accountant to wrap everything up such as to do your tax return, but with all of the information neatly stored and ready to go this will certainly be a lot cheaper since you’ll need to pay them for fewer hours.
Is your office space up to scratch
There’s an obvious place to upgrade your that your business that you might be overlooking- the four walls within which you conduct all of your work.
A nice office environment means staff will be happier and therefore more productive and motivated. Plus a fantastic office also makes a good impression to customers and clients.
You could upgrade your current space, or you could move somewhere better. Look for things like floor to ceiling windows, good transport links, a secure building and excellent facilities. This could be a canteen, kitchenette, a kitted out staff room and more.
Spend time getting this right, after all, it’s where you and your employees spend a huge part of your day (and life in general).
Anything that’s cramped, dingy and unpleasant is sure to affect mood and workflow. Kit out your office with good quality furniture and equipment, which will allow staff to get on with their jobs quickly and easily. No waiting around for slow loading printers or computers that constantly crash.
Are you present online?
These days, every company has to make a good impression online in order to succeed. It will get your name out there to potential customers, and also show people you are trustworthy and legitimate. If someone wants to shop with you but can’t see much of you online, they could think you’re a scam and take their custom elsewhere.
There are a few ways you can go about building your online presence, the first is to have a great website created. if yours currently looks amateur and is slow to load it’s time for an upgrade, it’s worth spending the money here on a professional web designer.
The second is to have an app created, this allows you to get your business onto the phones of your customers and potential customers – a great place to be. These days, more sales are made on phones and tablets than laptops and computers.
So this is something you can’t afford to miss out on. An app shows you’re legitimate since they have to be verified before being added to the app store, which can help build up trust from customers.
Writing a blog is another way you can be present online, as well as show your customers you’re an expert in your field and really know what you’re talking about. It can also grow your customer base, and blog posts promote social shares which are a fantastic, free form of advertising.
Finally, the power of social media simply cannot be overlooked when it comes to business. It has higher conversion rates than most other types of marketing and helps build up your brand and reputation which can translate to more customers and more profits for you.
When people are able to see interaction on your business’ social media accounts and reviews from real people they can see that you are who you say you are. Social media gives you an easy way to connect with customers, you can share discount codes, run competitions and offer giveaways to help generate interest.