The ‘Good Habit’ Groove

When small business owners and managers embrace 12 effective management habits, success is sure to follow

When you started your own company, your focus was on doing anything and everything to get it off the ground. Most likely, you spent day and night building the business, solving problems, working overtime to please customers.

Now, you’re proud to say that your venture is a success. But in all the hustle and bustle, you’ve likely let some small but critical details fall by the wayside. Unfortunately, those nagging little business practices that so often get overlooked are the same ones that can keep you a step (or two, or ten) ahead of the competition.

There’s no time like the present to start developing habits that will help you run a more solid business. And if you’re worried about where to start, don’t be. I’ve created a checklist of business management habits that will help you keep a tight rein on your business and pull ahead of the pack.

Here’s my checklist of 12 good habits that every business owner should develop:

1. Review all your systems from top to bottom. Carefully examine what is working and what isn’t. Decide where the problems are and figure out what can be fixed. You might be able to fix them yourself, or you might need outside guidance. A system review can be an eye-opening experience for business owners. They are usually surprised to find that their business has fallen into habits that are hindering them from being more successful.

2. Review all vendor contracts. Take a look at how much business you are doing with each vendor. Are you getting the best rates based on how much you are working together? Is the relationship mutually beneficial? If not, don’t be afraid to make a change. If you’re happy with your vendors, take the time to tell them. Let vendors know that you want to create a great relationship with them.

3. Determine who your best customers are. You may be surprised to find out that your best customers aren’t who you think they are. Examine all your customers through a profitability lens. Just because you always seem to be doing something for certain customers doesn’t mean they’re the most profitable. Of course, you should treat all customers well — but when you identify your best ones, you’ll want to give them VIP treatment.

4. Touch base with your best customers. Be sure to tell them you appreciate their business and ask if there is anything you can improve on or do differently to help them grow their business. A quick letter to customers will let them know you care about their needs and encourage them to offer constructive feedback.

5. Hold annual performance reviews. Talk to your employees about what they can do to help the company run more smoothly. Use annual performance reviews to find out what they feel most passionate about in their work, and ask if there is another part of the business where they would like to play a larger role. Always be honest with employees and take the time to listen to their concerns.

6. Engage your employees as partners. The best people to help you solve problems, particularly those involving customers, are the ones who experience them on a daily basis. Your employees are a (possibly untapped) wellspring of ideas on how you can make your customers happier. Hold a meeting designed to get them to share those ideas. Listening to and implementing your employees’ suggestions is a great way to make them feel like valued business partners.

7. Do a “spring cleaning” at least once a year. Purge your office. There’s no need to hang onto all of the stuff you either don’t need or doesn’t work anymore. Your employees will like working in a cleaner environment. Chances are they — and you — will be happier and more productive. It’s depressing to be surrounded by clutter.

8. Review your marketing campaign. Make time to take a look at which marketing efforts are driving business and which are not. Do not hesitate to make changes if you think current efforts aren’t paying off. A great marketing campaign is a valuable way to develop your business and it can be disappointing when you realize something you have been doing simply isn’t working. Stay positive and come up with better ways to spend your marketing budget.

9. Overhaul your Web site. In the same way retail stores move around their floor sets, you need to make changes to your Web site to keep people coming back. Make sure information is updated. Set your company’s Web site as the home page on your browser. That way every time you go online you will notice your Web site. It serves as a constant reminder that you need to keep making improvements.

10. Take a look at your business cards. Chances are you are handing out business cards to all kinds of people: your customers, your vendors, potential customers. Make sure the information is updated. Are all numbers and e-mail addresses current? Does the design match your Web site and stationery letterhead?

11. Consider technology upgrades. If you need new computers or a new phone system to help things run more smoothly, don’t hesitate to make those upgrades. A technology upgrade can make a huge difference in the daily lives of your employees, enabling them to spend less time attending to problems such as computer crashes or lost voicemails and focus attention on things that truly matter.

12. Review insurance policies. Carefully review all of your policies at least once a year. I know, insurance is not the most exciting subject in the world. But taking the time to make sure you have adequate coverage could save you a lot of money down the line. This is especially important if changes have taken place in your company during the past year that affect your liability.

DON’T WORRY, BE HAPPY

Remember that once you’ve completed all of the tasks on the list, your work isn’t done. Don’t put the list aside for a couple of years to gather dust. All of the tasks on the list should be completed at least once a year if you want them to benefit your business in a consistent, positive way.

Don’t fret over the time you spend completing these tasks. You’ll be surprised at how much time you free up by habitually keeping your business in order. It will allow you to work on achieving your new goals and developing your business without having to constantly worry about what problem lurks around the corner.



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