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6 Actionable Tactics for Guaranteed Business Success!

Just because the media is wrapped up in constant negativity and much of the world seems to be at an all-time low — this doesn’t mean you should be taking your business down with it!

 

If you need a bit of inspiration during these trying times, take a look at these 6 Actionable Tactics for Guaranteed Business Success:

 

  1. Take Care of Your Best Employees

 

This is the best thing you can do to keep your business running on a positive high! Recognise your top, most valuable employees; and then vow to take care of them as much as possible.

 

By doing so, they are more inclined to work harder and stay with your company longer. This will truly make your workplace stand out.

 

  1. Lay Off Your Worst Employees

 

There’s nothing wrong with giving second chances, but when an employee is downright bad — you need to know when it’s time to let them go.

 

Now, this is not an isolated issue. “Bad” employees could be people who are creating a terrible experience for your customers and fellow employees. These people need to be shown the door.

 

But let’s get back to “second chances”. You might find it helpful to have an unspoken system on the topic of disciplinary actions for less-than-average employees.

 

Giving one or two chances for small, isolated incidents is fine; but if an employee has explicitly and purposefully rendered a poor customer experience, do not hesitate to hire someone new!

 

  1. Save Money

 

One of the largest problems facing businesses is that they don’t have enough money saved up for when trouble strikes. When there’s a slow down in your business or in the economy at large, you always need to be ready and prepared.

 

There’s no reason why your business funds should be different to any other kind of savings account.

 

For example, it’s generally recommended that everyone keeps about half a year’s worth of living costs in their personal savings account. This money is to cover all your living expenses such as rent, food, utilities etc.

 

In the same way, you should have enough in your company savings to cover around half a year of employee pay, supply pay, and everything else! If you are not saving this amount in your business account, you need to reevaluate how your business is operating, and how it is allocating expenses.

 

  1. Take Responsibility & Question Yourself First

 

If certain things in your business are consistently going south, there’s a high possibility that you are the reason why. For this reason, you should always truthfully check in with yourself before anyone else when it comes to mishaps in the workplace.

 

Ask yourself:

 

> Is it my leadership style? 

> Is it my reward system? 

> Is it my mood?

 

The truth is that you have a massive influence over your workplace; all the way from your leadership style to your office rules to your fluctuating mood. Understand and recognise in what ways you might be positively and negatively impacting your workplace. 

 

Make sure that you fully evaluate yourself before pointing fingers at others. It’s not always easy, but even if an employee made a mistake, you should try to think about whether or not there were any better ways you could have communicated your expectations.

 

  1. Listen to Your Customers

 

You know how the old saying goes: “The customer is always right.” Well, at least most of the time. That’s because they know what they want; so it’s your job to help them get it.

 

As your company expands, your customers will likely be telling you what they want. This might be through your social media channels or directly to your customer service employees. Regardless of how you’re getting this feedback, it’s crucial to note down any complaints or constructive suggestions. Make sure your employees are aware of this process, too.

 

  1. Trust Your Instinct

 

When it comes to last-minute decisions, your gut is usually spot on!

 

When running a business, there are a ton of decisions that need to be made. Many times you won’t have the time or energy to do a full-scale investigation for every little question and issue that arises. This is the ideal time to trust your gut instinct.

 

You should be focusing your precious time and energy on more important decisions.

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