Small Business Ownership: Key Lessons
Owning and running a business of any size can be hard work, it takes a lot of time and effort to get things moving in the right direction – the direction of success and ultimately, profit. One of the biggest challenges, although it need not be, is how to get the best staff for the job and how to get the most out of them in terms of productivity.
Here are some useful topics of discussion and thought for any business owners or soon to be business owners.
Get The Best People For The Job
When hiring an employee there are a few areas to focus on, some people could say that experience and credentials are the most important, but that isn’t always the case. What if somebody has the potential and is hugely driven to doing the best job that they can, keen to learn and more positively-minded than the other candidates?
A logical approach would work best here. It is believed that if you give somebody a job that they love doing, then the chances are, you will get the best results. Even if it takes a little time to get there, the passion and potential ability should prevail. If you give a job to somebody that either isn’t motivated or doesn’t quite have the right attitude, then you might miss out on that ‘edge’ that provides the best performance and service for your customers.
Delegation Is Absolutely Crucial
Learning the art of delegation will make every bit of difference to your business, some businesses have failed for the lack of delegation alone. If you want to learn more about delegation then you could look into Sydney small business coaching by Mark Vischschoonmaker, or you could seek guidance from a coach in your location, if you’re outside the country. Sometimes, a little helping hand can make all the difference.
Depending upon your temperament, this skill may be really easy or quite difficult to adopt. To some it comes naturally, for others who feel that they need everything done the way that they do it, the skill may take a little more time and effort.
It can feel unnatural to let go of the reigns, especially if you have been the sole creator of your business from the ground up. However, as your business grows, or if you want it to grow, you will need to spend more time on the core functions of your business, learn how to generate more income and in turn hopefully, get a profit.
Give tasks to members of your team. You could hire somebody, even part time, to take care of some administrative tasks that you don’t need to be involved in directly. By letting go, you will have more time to drive your business forward.
Reward Success
A happy employee is a productive employee and things like incentives or rewards for success make all the difference; everybody likes to feel appreciated and informed that their efforts have been of use. Granted one could say, well employees are paid to do a job, they did the job and got paid so what’s the use? The use is that, people get bored, doing the same job everyday can sometimes mean that productively is reduced as interest is lost. With an incentive or reward every now and then, you should see productivity increase.
