EXPERT VA CHRISTMAS TIP 19
Now is the time to look at your business growth, especially if you have been in business for a period of time perhaps longer than 2-3 years AND if you have a team of more than 5-6 employees.
Are you staff working to their fullest potential?
Do you see a greater turnover in profits and profitability?
What about your clients – are you getting more?
There are a number of reasons why your business may not be growing as quickly or as easily as you would have hoped, and these can include:
– unhappy and unmotivated staff;
– no structure and/or systems in place to ensure continuity throughout your business;
– perhaps leadership is not providing enough feedback to staff;
– client feedback is not being sought as to whether they are happy or if things could be improved.
Whatever the reason, and I am sure that there are more than these above, one thing is for sure – every aspect of your business should be scrutinised to find out the underlying issues within your business.
Take one item at a time..
Contacting valuable clients to obtain feedback is absolutely crucial. Before doing so, make sure you have created a survey or a questionnaire before you start so that each client is asked the same questions.
Make sure you take valuable note of everything said to you, even if you are not sure you like something you hear. Everything is valuable to your business and will only assist in your business growth moving forward.
Remember to ACT on all aspects of client feedback.
Find out from your staff if they are happy or unhappy with their current work, their workload or if they would prefer to be doing something different. Sometimes staff would prefer not to speak directly to their manager or owner of the business, so employ someone who is a specialist in this area to assist in this capacity. You never know what you may find out.
Create Structure and Systems
How many times have you walked past a staff member stumped on how to do something or a sub-contractor has asked a question several times, and you wonder why?
Perhaps this purely because you do not have any systems in place or you have not documented any procedures within your business.
This is a necessity for any business for work to flow easily and securely and for all staff to have a knowledge of how the business should be run (and even about the branding of the business). It is also a necessity as part of any business exit strategy. So, ensure that this is part of your quieter downtime period in your business. Perhaps look at employing someone who is an expert in this line of work.
If you at least attempt the above 3 steps, you will find out items in your business that perhaps you didn’t realise even existed or were a problem, and perhaps this is the real reason your business growth is not continuing as you believe it should.
Hazel Theocharous is a specialist in assessing the systems and structure required in business and has a proven track record of achieving a business turnaround when the owner of their business did not know where the problems stemmed from.