Any business is as good as its people. If you want to grow your venture, then recruiting and developing people will need to be at the core of your plans. Business growth is rarely straight-forward. A lot can go wrong along the way, which is why having a clear, yet adaptable, plan is necessary.
Knowing some of the main things to do and what to avoid, could minimise any people-related stumbling blocks that will prevent your business from growing. Here are the dos and don’ts when it comes to growing your business.
Communication is important in every organization. If you want your business to grow, you should have open communication not only with your clients but with your team as well. Communicating effectively is the best way to establish a good working relationship between the business owner and the people who work for you. Communications also increase well being and happy and productivity.
Establishing relevant and regular communication with clients can help to attract new ones and keep the existing ones. This should also include getting feedback from them that can be useful for developing or improving your business.
Don’t Stick Your Head in the Sand
When problems arise, don’t bury your head in the sand and pretend they don’t exist. You need to address the matter head-on, no matter how difficult it is. Don’t hesitate to correct the wrong behaviours of your team, but encourage them to provide feedback about yours as well. This is how you should approach your clients too. Remember that when it comes to growing your business, the last thing you want is to lose your best employees and clients because of your failure to communicate with them.
It goes without saying that an ambitious and growing business should always look for ways to improve business processes, products, and ideas. You can apply an innovative mindset to team recruitment and development as well, utilising the latest training know-how and technology such as applicant and candidate tracking system for recruiting. The best technology integrates human and authentic connection at the right stages of the staff development process.
Don’t Assume the World will Stand Still
Even if you feel like your business is doing well, do not stand still. Do not be complacent about your current strengths or your competitors will soon leave you behind. Be creative and come up with better ways to innovate your business systems and processes. Then figure out the best marketing techniques that speak to your target customers. Marketing is a constantly moving sphere, so checking in with the latest trends is advisable.
Don’t Try to Do Everything
Focus on what you do best and delegate the rest. That way you maximise the value of your time and leave more time for forward planning and development, to work ‘on’ rather than ‘in’ the business. It also helps to think of your team as wider than just the people you employ. In fact, lots of successful and reasonably large businesses employ very few staff, outsourcing instead to freelancers or other businesses.
You need to weigh up the pros and cons of hiring versus outsourcing for skills. Hiring gives you loyalty and deeper knowledge and connection with the business. Growing businesses also usually require key people who can muck in to sort out challenging problems and who have the breadth of knowledge about the company and industry to trouble-shoot usefully. Alternatively, outsourcing keeps your fixed costs low and will enable you to pivot quickly if you need to change direction.
Do Invest in Your Team
Investing in your people is one of the smartest things you can do to grow your business. In fact, employee development is a crucial part of creating a successful, lasting business. This includes investing in employees’ professional and personal development. You should also create a positive work culture within the organisation, as this is one way to gain a competitive advantage in the industry. Offer perks, incentives, and other benefits that are tailored to the unique needs of your employees.
Don’t Think You’re above Your Staff
Your employees and associates are some of the most valuable assets in your company, so you should treat them with the utmost respect. The number one reason people leave a company is because they do not feel respected or supported by their manager. If you don’t respect your team they will notice. No matter how professional your behavior, small signals of disrespect always leak through.
Ask for anonymous 36o degree feedback and take the results seriously. If staff are critical of you, get an executive coach, and do some management training. Being a good manager or leader is a skill that can be developed. It is essential for a successful growing business, do not leave it to chance.
Don’t Rush the Hiring Process
Do not be in a rush to hire new employees. If you rush, there’s a good chance that you’ll end up hiring the wrong people. It’s a good to either work with a specialist recruitment firm or to hire quality HR staff first as they can, not only help you in the recruiting process but can make sure all the essential and legal admin managed from the beginning. It can be costly to keep replacing employees. So, take your time and start by creating an accurate job description that can serve as your guide into selecting the best employees for the job positions you need.
Don’t Cut Corners
As business owners, we want our employees to be as productive as possible. After all, we’re spending a lot of money for their salary. But overloading your staff can lead to the opposite effects. If your employees are overworked, this can lead to poor work quality, an increasing number of sick leaves, and high staff turnover. All these could affect your business operation and will prevent your company from growing. And while you think that you are able to save money for making your employees work more than they should, you’ll only end up spending more money in the long run.