Why Taking Care of Employees is Good for Business

Increase Employee Engagement

The concept of “good company culture” has been thrown around a lot in entrepreneurial and small business circles in recent years. There is a lot of talk around increasing employee engagement through recreational spaces, company retreats, etc., but do tactics like these actually make employees more productive? More importantly, is it a good use of time and resources to implement strategies that increase employee welfare? In this article we will discuss why focusing on workers’ happiness and welfare is absolutely critical in the success of a growing business.

Point of contact 

Much of the time, the individuals we hire for our companies act as the middleman between us and our clients. Whether we are operating a business to business or a business to customer endeavor, the employees with direct contact to our clients contribute greatly to the image of our company.

If our employees are chronically unhappy in their roles, it will be evident in the way they handle dealings with our customers. Similarly, a happy employee is highly likely to provide excellent service to our clients. As such, it is important to ensure that we not only treat our employees with care and respect, but that we also hire individuals whose values, missions and visions align with those of the company.

Employee Engagement

Just as our external focus should be on acquiring and maintaining a loyal customer base, our internal focus should be on acquiring and maintaining a loyal and robust team. As mentioned earlier, we should ensure that we hire individuals whose values and visions align with that of our companies. Properly vetting employees so that we avoid the high cost of having or replacing ill-suited and often unproductive workers is critical to the health and longevity of a business.

Not only is it important to focus on having a team with matching values, it is crucial to make sure that existing employees feel heard and understood. Recreational areas, retreats, and other fun perks are nice, but actually listening to our employees’ concerns and suggestions is even better. Doing this will allow employees to feel like their contributions matter and are of value to companies they work for.

The focus on company culture may be cliche, but the results of employee engagement are not. Happy employees create pleasant workplaces which translate to happy customers. Time and resources spent on productive employees is definitely worth it.

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

For more valuable articles to help you successfully manage the challenges of growing your business profitably, please search our blog at our website www.portalcfo.com.

Fine-Tuning Your Business Plan for Growth

fine-tuning your business plan for growth

At the beginning of the year, most individuals set their long-term plans and realign whatever is not on course to facilitate the achievement of specific objectives.  During the course of the year, fine-tuning your business plan for growth is highly-encouraged.  Business owners refocus their strategies more frequently because it encourages the identification of the concepts that are no longer effective, so that they can make the necessary adjustments.

If you are focusing on growing your business operations, fine-tuning the plans you already have in place is advisable, since it increases the probability of realizing a desirable outcome. Here are some of the aspects worth considering as you refine your current business plan to achieve growth.

Under-Performers

Sometimes, you need to appreciate the fact that not every employee within your organization is contributing effectively towards the expansion of your enterprise. You may imagine that retaining such workers is a noble idea, but that is not the case. Releasing company resources from unprofitable channels and investing in those areas that will promote growth is the right thing to do and for that reason, you should allow under-performers to pursue opportunities elsewhere in line with their strengths.

Future Changes

Every business environment is prone to change, which is why business owners cannot afford to work without a contingency plan. If you are seeking solutions only for the current problems you are experiencing, then your business may not be able to surmount future challenges.  It may not only hinder growth, but it may force you out of business as well.

As you invest in your company, you should prioritize those solutions that will future-proof your business against the dynamics of the environment you operate in now and in the future.

Existing Limitations

There is nothing like a perfect plan in business, which implies that there is always room for improvement. The business approach you are currently using may seem ideal for your operations, but understanding the limitations it may pose on your activities is critical because these are some of the things that will hinder growth. Once you identify the existence of limitations in your current business plan, you can deploy the right solution at the right time to overcome foreseeable and unknown challenges.

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

For more valuable articles to help you successfully manage the challenges of growing your business profitably, please search our blog at our website www.portalcfo.com.

Business Plateau Woes? Three Ways To Encourage Business Growth

Three ways to encourage business growth for service business owners

With every company’s period of growth comes a time of stagnancy. It is inevitable that, despite your efforts, growth will stall and you will find yourself looking for new ways to enhance your company’s operation. The good news is that you have the tools and knowledge at hand already to jump start things all over again. Here are a few different ways that you can encourage additional business growth to overcome your plateau period.

Leverage Automation

It is hard to find the time to grow your business when your time is spent on repetitive operational and administrative tasks. If you want to have the time to focus on growing your business, you need to simplify some of those time-consuming tasks. Automation is the best way to go. That way, thing are completed with minimal manual intervention, allowing you time to focus on other needs.

For example, payroll automation can save your business hours of manual labor, and the associated costs, every week. There are many different services available to help you automate your payroll processing. Explore your options until you find one that offers the services you need at a reasonable price.

You can also automate your email distributions. Create newsletters or alerts in a mass email platform, designate specific mailing lists, and then let it do all of the email distribution for you.

Tap Your Resources

If you find yourself struggling to come up with new ideas to spark growth, it’s time to tap your resources and use their expertise. Your staff can be a valuable pool of new and fresh ideas for your company’s growth and sales. There are a few ways that you can do this.

Host brainstorming sessions. Separate your staff into groups and host some brainstorming sessions to encourage the free flow of ideas. You can even change up the groups and try again, because the different group dynamics can help spark new ideas and conversation.

Put out an open suggestion call. Let all of your staff know that you are open to all sorts of new ideas and suggestions to encourage business growth.

Develop A New Product Or Service

If you offer a new product or service, you can not only expand your customer base, but also potentially sell that offering to your existing customers as well. Consider your company’s current offerings and mission, then develop a product or service that complements it.

Market that product widely as a new offering, both through the use of traditional ad campaigns and also direct marketing to your existing customers. The more you can get the word out, the greater chance you have of increased sales.

Running a business does not need to be complicated!  Keep it simple!

For more valuable articles to help you successfully manage the challenges of growing your business profitably, please search our blog at our website www.portalcfo.com.

Business Analysis: What Not To Do

business analysis What Not To Do

It is important to analyze your business. Not only does an analysis allow you to make sure everything is running as smoothly as possible, you might also see ways that you can improve and even grow your business.

However, analyzing your business is not always easy. Here are some things that you shouldn’t do during the analysis.

Do it all yourself.

You may be too close to your business to look at it objectively. Other people can give you an objective look at your business. They may see something from a distance that you don’t even notice. Get help and listen objectively.

Don’t focus on the big picture, look at everything.

Too many business owners get stuck on one key problem during their analysis and they can’t look any further. However, it is important that you look at how you do everything in your business and how it runs. This includes your systems, employees, and your overhead.

Only do one analysis.

If you don’t analyze your business on a regular basis, your business is not going to grow. You will continue to do the same thing with the same result for years and years. In order to find better ways to do things, you should constantly analyze your business and make the necessary changes.

Don’t look at any other opportunities.

A part of your analysis should include other business opportunities that you may be interested in. If you skip this part, you may miss out on a few chances to grow your business.

To grow a strong business, you must analyze your business on a regular basis. This helps you to improve and even expand your business, instead of staying stagnant.

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

For more valuable articles to help you successfully manage the challenges of growing your business profitably, please search our blog at our website www.portalcfo.com.