They say an “apple a day keeps the doctor away”. The same can be said for implementing good practices to keep your business thriving. A healthy business is a successful business.
There is no one size fits all approach. However, there are proven ways to reach growth milestones. We have compiled a list of some of these ways to keep you on track.
Running a regular assessment of your current processes is beneficial. Your assessment will help pinpoint if there are any bad practices that don’t serve your business. Cut them out and work to put your time and energy into the good stuff.
Of course, you’ll need to have systems in place for tracking your goals and performance. It’s good practice to monitor things like website traffic, sales, subscribers, and of course, finances.
Without adequate profits, regular flow of cash, and strong sales numbers, no business can be successful.
It’s key to have a business plan in place. It should outline your objectives, how you’ll run, and your financial and marketing strategies.
Wave talk to business plans as road maps. ‘It’s possible to travel without one, but that will only increase the odds of getting lost along the way.’
Owners with a business plan see growth 30% faster than those without one, and 71% of fast-growing companies have business plans.
Referring back to it often helps keep you focussed on your targets and goals.
Our friends at Xero have written a great blog on how to write a business plan. It’s well worth a read if you need to start afresh or modify yours.
If you’re going to stay in business for years, you’re going to have to adapt. Change helps keep your customers engaged.
Keep an eye on changing communication strategies and be agile enough to adapt. Along those same lines, you might also notice new technology emerging that could help your business in some way. If you keep an eye on these tools and are able to adapt quickly, you can take advantage of opportunities before your competition.
When it comes to leading a team of people, it can be tempting to micromanage. But the best way to ensure that people are working up to your standards is to show them.
It’s common for business owners to try and take on too much. But there are people out there who can help you if you actually trust them to do the work.
Risk is an inevitable part of starting and growing your business. It’s impossible to control everything, but there are many ways to limit threats to your company growth. This is an area we can help.
The theft of employee data, customer records, and privacy breaches can destroy a small business. Not only generating significant costs but also eroding customer confidence and loyalty.
It’s a good idea to get a privacy policy and your website terms of use implemented, so if anything happens to go wrong – you and your staff know exactly what to do. These are services we can provide.
As your business grows, you may start to hire out your goods/ personal property to others. Ensure those goods are protected. We can assess this for you and register your goods on the PPSR. To find out more on how we can help, click here.
Your Terms and Conditions of Trade is also vital for the smooth running of your business. Having the necessary clauses needed, such as payment terms, customer data use and PPSA will help cover your business as you start to expand.
Our team have a wealth of knowledge. We will assess your businesses systems and processes. Work with you to implement solutions to help your business thrive. And be on hand to support you every step of the way.
Thank you to SmallBizTrends and Business News Daily for your amazing content to help write this article for our clients.
VENASO SELECTIONS2. July, 2024.we used EC Credit cony toll to write our T & C and we have been very happy with their service.
Joe Clark1. July, 2024.Terry has been very helpful. Has answered his phone every time I have called him.
Jamie Kemp18. June, 2024.Excellent customer service, strong knowledge, and always willing to help and provide advice when needed.
Aidan Lucas11. June, 2024.EC Credit Control have been great to work with. We have been using their services for around 10 years now. They are always available to answer any queries and absolutely happy to help whenever we need.
Felix Lim6. June, 2024.I have been with EC Credit almost for 15 years now. Overall I am very happy with the service they provide throughout the 15 years as they have all the times successfully collected money owed to me by my clients, never failed. As well, I highly commend their professionalism in dealing with me all these times.
Yvette Rose20. May, 2024.Portal is very easy to use and the EC team great to work with. Results in this case paid and finalized within 2 weeks.
Brett Parker13. May, 2024.I cannot speak highly enough of EC Credit Control and the exceptional service provided by Terry Foley. As a long-term client, I have consistently been impressed by the professionalism and efficiency of the team. Terry, in particular, goes above and beyond to ensure that every interaction is seamless and stress-free. His dedication to client satisfaction is evident in every aspect of our partnership. EC Credit Control makes the credit management process effortless, and Terry's expertise and guidance have been invaluable to our business. I highly recommend EC Credit Control to anyone seeking reliable and effective credit management solutions. Thank you, Terry, and the entire team, for your outstanding service!
Mairin Best23. April, 2024.I have engaged EC Credit Control services on behalf of our business and found them to be extremely professional. EC have provided a review of our terms of business and their debt collection services and we have been pleased with these outcomes to date.
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