Use a Year-End Assessment For Business Growth Planning

Since 2016 is upon us, it’s time to reflect on the year.  Businesses must look at the year objectively in marketing, finances, services, and other valuable segments.  A year-end assessment will assist you.  It should provide a starting point for next year.

A year-end business assessment analyzes the business in an objective manner.  It lays out the facts so business owners can make smart and honest strategies in the future.  Planning the future with positive or negative bias places your business in jeopardy.  Bias easily leads owners and upper management down an incorrect path.  Year-end assessments avoid this.

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Boost Your Business Game with These Survey Strategies

survey

Those in the business world are aware that in order to thrive, they need to know what the customer wants. With all the techniques out there to strategically grow your business and interest customers in today’s products, sometimes the easiest way to improve your company as well as get in their heads is to simply ask what they’re thinking. Surveys are a fun, efficient way to get public opinions on anything and everything, including your company.

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Business Growth Planning – Will You Be Ready For Growth?

Business growth will not happen in one day. It takes time, patience, and planning. If you try to rush the growth of your business, you may not get high-quality results. Also, you may not have the control you need if you try to rush the growth of your business.

Your company has probably been working hard on a consistent basis to improve all of the following, plus more:

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Business Advice – How to Retain Your Top Employees

Whether you run a small business or a large one, your employees are the lifeblood of the organization. Keeping your best people is essential for the continued growth of your business.  Losing good employees slows down productivity; and it wastes time and money as you locate, hire and train their replacements. By implementing a few techniques at the beginning, you have less chance of your best employees accepting other job offers.

1. Compensation Package

In studies, compensation is one of the most important things employees look for in a job. The salary you pay, plus the health benefits and retirement plan you offer, all contribute to job satisfaction. You have to pay the best people the most you can afford that is commensurate with their experience, skills, and job function. If you don’t have the money to pay large salaries, you can offer flexible schedules, telecommuting, or other perks.

2. Excellent Communication

Good employees want to know the goals of the company, so they can understand how their jobs help to achieve these goals. You need to keep all employees updated on changes and developments within the company. It’s important to talk with your top people one-on-one on a regular basis to get and give feedback.

3. Professional Development

Your top employees are usually ambitious. They want work that is challenging and interesting and that allows them to grow as a person. Giving your best people more responsibility and promotions keeps them satisfied. You have to consider a career path for them within your company. Knowing what the future holds for them will encourage them to accomplish more for the company.

4. Respect

Respect takes many forms in the workplace. By listening to what your employees say, you show that you value their opinions. Employees often have good ideas for improving productivity, efficiency, and profitability. Managers need an open door policy and must be willing to discuss any problems an employee is having at work. Having polices in place to prevent discrimination, sexual harassment, and other issues that create a hostile work environment are also important.

If you want to retain your best employees, you must provide ongoing job satisfaction. People are most satisfied at jobs in which the company makes an effort to show that it values their staff and sees them as more partners than functionaries. To keep the top people in your company, you have to treat them like the skilled professionals they are.

Remember, running a business successfully does not need to be complicated.  Keep it simple!

For more information on business analysis, business planning, and ways to grow your small business profitably, please check out our website www.portalcfo.com.

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