It can be challenging to handle every aspect of your business, especially if it is growing. However, this is the type of “challenge” you want. Growing pains are a part of the process. That said, how you handle them is what will make or break your business, no matter how small or big it is. There are some areas that you can shift quickly with the right tools and attention. Here are some top business changes for a smoother operation.
Adopt a Payroll System
Payroll as an area of your business that can trip up even the savviest businesswoman. Consider ways to simplify it if you are at that point in your business. After all, while human error can be forgiven, when you are dealing with other people’s paychecks, accuracy is imperative. Choosing the best payroll software for your business shouldn’t be too difficult if you get the information you need upfront. I recommend looking for business owners who are using a payroll service or software. Get firsthand reviews and narrow your considerations down to a few before you contact the companies. This way you won’t be solely influenced by their sales reps.
Customer Management System
All businesses need customers or clients. It doesn’t matter whether you on the wholesale, retail, or service side of things. There is still a reliance on the transfer of money. Your clients and customers are the lifelines of your business, so managing them effectively will naturally produce positive results. A quality customer management system enables you to keep a full record of transactions so you know what was purchased, when, and by whom. This information is vital for accurate predictions and understanding your market. Your customers will also have a more efficient experience and feel taken care of.
If you are at the point in your business where you literally have no time to do one more thing, consider outsourcing some of the tasks you struggle to accomplish. This could be payroll, accounting, customer service, production, or even social media marketing. Take into account what areas are not your specialty or are not covered by any staff you have. Believe it or not, outsourcing can be cost efficient if it’s done at the right time and for the right reasons. Do weigh out the pros and cons with your business team or consultant.
Recruit Well the First Time
Recruitment of staff and even vendors is so important, it can mean the difference between success and failure. Of course, it’s always the intention to recruit right the first time round but, unfortunately, this doesn’t always happen. Businesses hire the wrong people often because they are desperate and need to fill the gaps quickly. I get it, however, this thinking could be more destructive than you think. The wrong person in an influential position could turn things upside down in a short period of time.
Consider using a team of at least 3 people to hire your new employees or vendors. That way it won’t be just the opinion of one person. The truth is, some people have the ability to charm in an interview and draw attention away from the fact they may not be qualified. Dig deep into the background of each potential hire and do listen to your gut instincts as well.
Analyze Your Goals and Market Regularly
Finally, analyze your business plan and goals to see how things are going at regular intervals. Make adjustments where appropriate and recognize your victories no matter how small they are. Markets and business trends are fickle and can shift the success of a company quickly. Pay attention to how your goals and dreams blend into the current market. I’m not saying to always change with the wind, but do know your industry climate and what may be coming in the future. It’s better to be proactive than scrambling to catch up after the fact.