5 Actions to a Healthier Business
From start-ups to multi-generational businesses, there is always room to improve. We can adjust our processes and procedures to make the company leaner and more economically efficient (an important aspect for any business attempting to sell), scale up staff and/or production, focus on retention of key people or improving an existing product or service to stay competitive in the market place.
Over the years working with a variety of personalities and stages of business development, we learned many of the same principles apply. Often, we hear a rebuttal to a suggestion to create an efficiency, the CEO or operations manager retorts, “our company is different, a cookie cutter approach won’t work for us”. We respond with a confirmation, their business is not like others, including the competition, whether it is a cultural difference, price point — customer demographic, etc. The story of this company is like no other. We suggest there are commonalities with all businesses, whereby we can extract certain codes or basic standards to abide by.
The following five actions are simple to implement provided the infrastructure supports it and the senior leadership buys in, and mandates through the ranks of the organization. Whether the operations are a sole proprietor or the company employs 1,000 people, we can use the following concepts:
1. It may seem simple, have a mission statement. We encounter surprisingly often from businesses that are performing well, they don’t have a clear message about their brand. We tend to hear the same question when a business doesn’t have a mission statement, “we lack focus” or, “we have a tough time explaining who we are”. If the business doesn’t have a very simple explanation about what the company stands for, it is difficult for the customer to understand why they should become a repeat buyer. The good news is, if you are experiencing growth without a mission statement, you are doing a lot of things well.
2. Empower staff to make decisions. This one can be difficult. Company culture whether by design or lack of intention, a culture settles in regardless. Take time to develop “rules of engagement”, internally and externally. It is an easy way to increase accountability, create a more efficient customer experience and may be used as a performance measuring device (decide when to reward or demerit) and your human resources department will love you for it. Externally, it will be what distinguishes you from the competition.
3. Put it in writing. Employee agreement, independent contractor agreements, partnership agreements, employee handbook, and for the customer facing aspect, frequently asked questions (FAQ), customer feedback form, terms of service. There may be additional documents beneficial to your operations. Thinking through what to have in writing is crucial. All of these documents work together to add clarity to employee responsibility and expectations. We tend to receive pushback from business owners with respect to developing these useful documents. When we share the fact, often a trade association relevant to your industry or a search online will produce a template to base your content on, it changes the conversation. The most important aspect of these documents is it can possibly save significant time, money and resources if you are named in a lawsuit or accused of wrongdoing. Remember, you don’t have to be guilty to be named in a lawsuit, all it takes is an accusation.
4. Implement contingences. Contingencies are plans to increase the likelihood your business will weather any unforeseen obstacles to your operations. There are a multitude of unexpected circumstances that will impact your ability to service your clients, allow your staff to be productive and circumvent physical damage to important systems or paperwork. These plans lay out a framework to manage a crisis situation or a moderate disruption to your “business as usual” operations. An example, working with a cloud storage facility to add protection from cyber attack and recovery of lost data. Another example is a natural calamity, an earthquake, hurricane or a lengthy construction project will most assuredly impact operations. Using a contingency plan lays out how operations can be least impacted by unexpected situations. Think of it like a “fire exit” map we see in office buildings. A contingency plan works the same way.
5. Employee and customer appreciation. Number five is rooted in giving back. Every high-profile brand is shameless when it comes to promoting their contributions to the community. Some certainly do better than others however; it is a way to connect employees to the company culture. If your company doesn’t celebrate the good work your staff is doing or volunteer for a cause important to you or people on your team, it’s never too late to start. Acknowledging employees individually and/or as a group is an excellent way to build unity with the staff and earn their “buy in”. Companies who give back to the community consistently will over time earn good faith with their customer base, therefore improving the reputation with your brand. It is important to institute these methods with sincerity. Businesses who use these noble practices for selfish reasons will learn people are intuitive and will sense when it is a genuine effort.
Now it’s time to get to work. Of these 5 what are doing now? Can you do it better? Pick one you have not started and make it relevant to your unique business. If you don’t know where to start, talk with your team, make it a group project. If you are solo operator, talk with your friends and family, they will likely be happy to help you improve.
Originally published at clarastellabc.com.
