Good practices to keep your business thriving.

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. 

Assess your current practises on a regular basis.

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.

Good practices - Business Plan

Refer back to your business plan.

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.

Need some assistance with your business plan? 

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.

Adapt to change.

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.

Good practices - Adapt to change

Lead by example.

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.

Reduce your risks.

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.

Want to know more?

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.

Request your call back We are here when you need us. If you want to have a chat about any of the services we provide, we are only a phone call away. Request a call back and we will be in touch as soon as possible.

Thank you to SmallBizTrends and Business News Daily for your amazing content to help write this article for our clients.

See what our clients are saying:

UNIVERSAL DIGGERS STAFF GMAIL
UNIVERSAL DIGGERS STAFF GMAIL
6. November, 2023.
Ec credit control works for us. Quality paperwork that gets results. Friendly staff available when you need them.
Sharon Gaynor
Sharon Gaynor
1. November, 2023.
Very helpful and understanding.
Janice Landon
Janice Landon
12. October, 2023.
Terry and the team have looked after us for approx 15 years now and keep our Terms Of Trade updated with new legislations, a must for every business. Janice Burleigh Powder Coating
Lauren Emery
Lauren Emery
20. September, 2023.
I highly recommend EC Credit Control for any business. We have been in the building industry for 20 plus years and have had great success with collecting money through ECCC. We have used them for over a decade now and will continue to use them. Yes it's another outlay but they will save you in the end, they saved us. Use them as a tool for your business and don't wait, get onto any bad debts sooner rather than later. The key is to get your customers to sign your credit apps before you start or continue working for them. The staff at ECCC are very helpful and professional and always reply back promptly. Thank you EC Credit Control
Snap Bondi Junction
Snap Bondi Junction
18. September, 2023.
Hi Keron, would just like to say that we have appreciated your great service over the years, you have effective systems in place and your team has looked after everything for us on those occasions we need your service. Highly recommend.
John Peros
John Peros
15. September, 2023.
What a great company!!! Couldn't be happier with EC Credit controls service and protection of my company. Highly recommend them for your business
All Gen Solutions Pty Ltd
All Gen Solutions Pty Ltd
14. September, 2023.
EC Credit have been a pleasure to deal with and extremally professional whilst we changed over to our new trading name. I would recommend their services to any businesses wanting to set up & or alter their documentation for trading accounts. Wendy & Neil in particular were very understanding and supportive in assisting me with the finer details and answering any questions I had.
Omer Mustafa
Omer Mustafa
13. September, 2023.
Neil and the team at EC Credit Control do a wonderful job. They've been a part of our team for the past 4 years and we've had nothing but success with them in recovering monies owed to us.
William James Rhodes
William James Rhodes
8. September, 2023.
My business has been using EC Credit Control for years, they are very professional and have been excellent at recovering our debts.