Tips to Further Grow Your Business
Just because you’ve gotten your start-up company off the ground and kept your doors open for a year now, doesn’t mean all the hard work is done. Even if you’re in the black and constantly turning a profit, there are still practical steps and strategies you can employ to further optimize the performance of your employees, yourself and your business as a whole.
- Celebrate your victories – The up and down nature of the economy can be a rollercoaster ride for any business owner, but when you do finally achieve stable, consistent growth and hit one of the milestones you’ve been working towards, take the time to celebrate it. This doesn’t mean puff a Cuban cigar in the privacy of your corner office; celebrate it with all the hard working people who made it possible. Give out public recognition and rewards for those who have helped achieve your sustained success so that to share the sense of accomplishment and will continue to work hard in promoting your company’s growth.
- Let employees think for themselves – Give the people who work with you the freedom to implement their own ideas and actions within your business model. If they take ownership of their own ideas they will be more deeply invested in driving those ideas to flourish. This will also allow employees to take pride in their own work and hold themselves more personally accountable for the success of their own work and the company at large.
- Take Smart Risks – Sometimes business owners work so hard to see initial results that once they actually have something worth losing they are too terrified to make any tough decisions. Bold entrepreneurial spirit is what got you where you are in the first place; don’t let success change the way you think. This is not an endorsement to fly out to Vegas for the weekend and bet the employee pension fund on black, but when a venture comes along that has the potential to change the face of your company in a good way, don’t be afraid to roll the dice.