In our first piece, How to become a Great Owner and CEO, we covered the importance of having a broad knowledge base, knowing your strengths and weakness, keeping up with technology, taking chances and being available. Of course, there are many more ingredients that comprise a great owner and CEO. While some believe being a great owner and leader is something you’re born with, there are things you can focus on to improve the way you run your business and the way your customers and employees view you. The success of any small business starts at the top, a great owner is imperative to the growth and survival of a company. Here we’ll outline a few more business growth strategies to help improve your business.
Know What You Want
As the owner of a small business, it’s your job to provide direction and guidance for your company. In order to do so, it’s imperative that you know what you want and set achievable goals. Without clear set goals it’s impossible to devise a plan for future success. This will also help to show your employees what they’re working for and make them feel like they are a part of something great.
Take Constructive Criticism
If you are going to run a successful business, it is important that you realize you won’t always have all of the answers. No one is perfect and everyone makes mistakes, if there’s a part of your job that you’re not particularly good at and someone points it out, you need to take that criticism to heart and not react in a negative fashion. If you expect your employees to take instruction and corrections the right way, you need to set the tone by doing so yourself.
Be Personable
Having the ability to communicate with your customers and employees on a personal level can go a long way. This will get your employees to work harder for you and pick up extra work when needed. It also helps you to retain quality employees. This is also a great way to drive business. If your current and potential customers feel a connection with you, that relationship can lead to continuous business.
Set Expectations
When your employees know what is expected of them, they will feel a sense of accomplishment upon completion of set tasks. It can cause tension and sour a relationship if an employee is being disciplined for not doing something they didn’t realize was their responsibility. Setting the right expectations for your customers is also very important. You want to make sure they know exactly what you’ll be delivering to them in order to ensure customer satisfaction.
Don’t over-schedule
With so many tasks required of a small business owner, it’s important that you don’t spread yourself too thin. While you want to make sure you’re there for your employees and customers, you want to make sure the time spent with them is quality and that you’re able to give them 100% of your attention. Prioritizing your responsibilities is essential in ensuring tasks are completed to the best of your ability.
Hire People you Trust and let them do their Jobs
Hiring the right employees can make or break your business. Make sure your hiring process doesn’t allow for people that don’t fit your goals to be on-boarded. Once you’ve made a hire, make sure you allow them to do what they do best. It can be tough to delegate work when the fate of your business is at hand, but providing people the opportunity to prove their worth is good for both parties.
Having a Vision for the Future
When you started your business, you likely had a dream of becoming financially stable while doing something you love. If your company needs help to make improvements, or expand, Quikstone Capital Solutions can provide a merchant cash advance to make your dreams a reality.
