When entrepreneurs first start a business, their focus is on doing anything and everything to get it off the ground. Most likely, they spent day and night building the business, solving problems, working overtime to please customers. In all the hustle and bustle to make their business a success, it's likely some small but critical details fell by the wayside. Unfortunately, says entrepreneurial expert Ty Freyvogel, those nagging little business practices that so often get overlooked are the same ones that can keep any business owner a step ahead of the competition.
"Being a really successful business owner is all about forming good habits," says Freyvogel, founder of http://www.MakingSenseOfYourBusiness.com. "If you don't keep up with certain tasks, you might get lucky and avoid a major catastrophe. But then again, you might not. And is that really a chance you want to take?"
Here's good business habits checklist that will help any business owner keep a tight rein on their business and pull ahead of the pack:????
Review all your systems from top to bottom. "Carefully examine what is working and what isn't," says Freyvogel. "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."
Review all vendor contracts. "Take a look at how much business you are doing with each vendor," says Freyvogel. "Are you getting the best rates based on how much you are working together? Is the relationship mutually beneficial for you and for them? If not, don't be afraid to make a change. If you're happy with your vendors, on the other hand, take the time to tell them."
Touch base with your best customers. "I send letters to my customers," says Freyvogel. "It is a quick and easy way to let them know we care about their needs and to encourage them to give us constructive feedback."
Hold annual performance reviews. "Discuss with your employees what they can do to help the company run more smoothly," says Freyvogel. "Always be honest with them and take the time to listen to their concerns one-on-one."
Engage your employees as partners. 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.
Do a "spring cleaning" at least once a year. (Even if it's in the dead of winter.) There's no need to hang onto all of that stuff that you either don't need or that doesn't work anymore. Your employees will like working in a cleaner environment. Chances are they--and you--will be happier and more productive.
Review your marketing campaign. "You should always make time to take a look at which marketing efforts are driving business and which are not," says Freyvogel. "Do not hesitate to make changes if you think your current efforts aren't paying off."
Overhaul your website. Make sure all of your information is updated, and post any articles that have recently mentioned your work.
Take a look at your business cards. Make sure all of the information on the card is updated. Are all numbers and email addresses current? Does the layout (colors and design) match that of your website and other stationery?
Consider technology upgrades. "A new computer, phone system, or other technology upgrade can make a huge difference in the daily lives of your employees," says Freyvogel. "Technology upgrades will enable them to spend less time attending to problems such as computer crashes or lost voicemails and focus more attention on those things that truly matter."
Review insurance policies. Often insurance policies are set up and then put to the side, forgotten, until something happens. "Carefully review all of your policies at least once a year," says Freyvogel. "Taking the time to make sure you have adequate coverage could save you a lot of money down the line."
"This may seem like an overwhelming list," says Freyvogel. "But trust me, most of the items are easy to do. Remember that once you've completed all of the tasks on the list your work isn't done. 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."
About Ty Freyvogel:
Ty Freyvogel is a visionary entrepreneur who has launched and grown numerous successful small businesses over the course of a 35-year career. Today, in addition to operating Freyvogel Communications, Ty is an active "Angel Investor," working with local groups to locate and invest in burgeoning small businesses and funding highly leveraged transactions. Ty Freyvogel is also the author of It's Not Your Smarts, It's Your Schmooze and Seize the Century!, as well as an advice guru on his new website, http://www.MakingSenseofYourBusiness.com.
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