As an entrepreneur or small business owner, you may know that starting a business requires a lot of work. An idea doesn’t just become a business without effort.
Some budding entrepreneurs or small business owners understand the effort it may take to create a business. After applying all the effort, and get the business to some certain extent, it is not smart to leave the future of your business to chance.
Like living organisms that need attention. A business can ebb and flow for variety of reasons. You have to continually be talking actions. There are proven business best practices for small businesses to stay on the path to success. From minor things like updating your software which help protect your business from poten security breaches. To increasing your legal and regulatory awareness to help avoid potential legal troubles.
Stay with me as I go deeper into see best practices small business should follow.
1. Reaffirm your mission statement.
According to jamin terrany a Psychotherapy and life coach who supports professionals. Said,
Employees these days are not as motivated by simply a paycheck. If you want employees who are going to go to battle with and for you, they need to feel connected to deeper purpose or mission.
A successful company culture starts with a defined, tangible mission. If your employees don’t know where they fit in the process or what the company is working toward, your organization will flounder.
Make sure you and your staff both know why the company exists in the first place: your statement should cut to the heart of yours goals and ambition serving as a Pathfinder for your team.
Why is mission statement important to your business.
- It drains employee engagement: the lack of employee engagement can be your biggest nightmare has an entrepreneur or small business owner. A 2015 Gallup poll found that 32 percent of workers aren’t engage in their job. When employees aren’t engaged productivity wanes. And your business may end up spending more time looking for the right people than focusing on the employee they already have.
- It’s expensive to recruit: reaffirming your mission statements, makes employee feel connected to more deeper purpose of your company, and not reaffirming it, you know what it may cause! (Uncommitted, unengaged, employee) employee engagement and retention has become a crucial part of any small business success. It’s expensive to recruit, hire and onboard new employees, so it’s important to build a sustainable organization that can withstand the pressures of encroaching job offers.
- Clarify what a company stand for: creating a company mission allows organizations to define what they stand for, which can lead to growth.
2. Be updated with legal regulatory trend’s.
To make smart decisions for your business, you need to know about existing laws on the books, as well as pending legislation that might change the rules. Small business owners and entrepreneurs need to remain aware of the rules at not just the federal level. But also states and local levels.
The news cycle is often hyper-focused on policy developments at federal level, which can easily create blind spots for small business owners at the state and local levels. While federal rules and regulations are important, they do not dimish the importance of state or local regulations so entrepreneurs needs to be aware both state and local legislature and municipal governments as they are of the U.S Congress and white House.
3. Your marketing strategy should have a unified goal with your brand.
Have you ever brought a product from television, and when you used it, it sucked and didn’t perform as advertised; and then in dissatisfaction, you tried to return it and got the run-around from a guy who sounded like he had a double-digit IQ?
When it comes to brand, people think about those beautiful graphics, but it that what a brand is? a logo, sign, etc.
When you think about the automobile Volvo, what do you think about? I think safety, how about Porsche? I think speed, how about Ferrari? I think rich, Volkswagen? Practical, Toyota? Reliability. Yet when someone mentions Chevrolet, nothing clear comes to mind other than looming bankruptcy, union squabbles and unpredictable reliability.
In this modern digital environment, it’s critical to ensure what people think of your company and your marketing efforts are unified and coherent across these channels while remaining optimized to each specific platform. When your business is just a business, something that just makes money and pay the bills you see it won’t Roundup that far, but when it is a brand. You’ll see that people are royal to brand and relationship.
4. Encourage feedback.
Open communication should be a company goal for every small business. One way to this is through the collection of employee feedback.
Leaders of thriving companies all over the world, knows that a strong company culture and Good workplace relationship are founded on open honest input from everyone in the organization. the higher you are, the more likely it is that some of the day-to-day operations will slip by you, and the only way to gain insight is to ask your staff what happen.
Communication is the key to any relationship, including your relationship with employees. Open ongoing feedback is one of the few ways your team can determine how well they are performing. That clarity helps employees produce the work you need when your staff is aware of your expectations you can create a successful working environment. Feedback is one of the wheels that keep your business moving forward; keeping an open line of communication puts everyone on the same page.
Tips for encouraging employee feedback.
- Asking questions: asking questions can make employees feedback empowered and valued, rather than interrogated while giving managers information and insight to help drive success.
- Say what you mean in a tactful yet straightforward way: sweeping problems under the rug is an easy way to avoid an awkward conversation. But withholding negative feedback does disservice to underperforming employees because it deprives them of information they could use to improve.
- Be conscious of your word: choose your words carefully, avoiding any demoralizing statements that call into questions the employee intelligence. Also, avoid subjective statements (“you’re not showing enough drive lately”) and sweeping generalizations (“you never contribute ideas during brainstorming session”).
5. Updates your software and secure networks.
Software companies regularly patch their products to defend against new threats and mitigate previous shortcomings. Ignoring these patches puts you at great risk of falling victim to preventable scenarios.
In recent years, headlines have spotlighted crippling cyberattacks against major corporations. While each corporate cyberattacks resulted in millions of dollars in damages, most stories fails to mention the many data breaches that effect much softer Target’s; small businesses, according to Verizon’s 2019 data breach investigation report 43% of breaches impacted SMBS.
Cybersecurity best practices for your small business.
- Keep your software upto date: hackers are constantly scanning for security vulnerabilities, and if you let these weaknesses go for long, you’re greatly increasing your chance of being targeted.
- Educate your employees: teach your employees about the different ways cybercriminals can infiltrate your systems. Advise them on how to recognize signs of a breach and educate them on how to stay safe while using the company networks.
- Implement formal security policies: putting in place and enforcing security policies is essential to locking down your system. Protecting the network should be on everyone’s mind since everyone who use it can be a potential endpoint for attackers. Regularly hold meetings and seminars on the best cybersecurity practices, such as using strong password s, identifying and reporting suspicious emails, activating two-factor authentication, and clicking links or downloading attachments.