Tips for Taking Your New Business Venture to the Next Level
When you launch a startup, for a time all efforts are focused on getting off the ground. From planning your business model to recruiting the talent you need, reaching the end of that runway is all that seems important.
Once your business grows its wings, it can be difficult to keep the wheels of progress turning. You’re attracting big clients and turning an attractive profit – so how do you turn a promising startup into a company that will thrive for decades to come?
1. Polish up your company vision
Change is a natural part of innovation. Sometimes, your organisation’s identity will naturally shift as it finds its feet. It’s worth taking note of these changes to ensure everyone is on the same page.
Mission statements shouldn’t be changed too often, but they can be refreshed and new elements will naturally be added. Think about your long-term goals, company values and how to bring your staff together. Defining your purpose as succinctly as possible can help drive everyone towards a shared aim.
2. Bring everyone together
When it comes to creating a united workforce, your company mission statement is a good place to start. But, it’s rarely the end of the conversation. People like treats, benefits and events to keep them feeling connected.
If you decide to host an event, make sure it impresses. Lacklustre team building days are rarely the best way to carve out inspiration. Instead, consider hiring a motivational speaker for your formal evening. Events bureau Speakers Corner has access to a pool of some 7500 speakers, so you’re bound to find the perfect host.
3. Commit to lifelong learning
As your business moves from its infancy to sturdier ground, it becomes important to invest in your staff. The people who helped to grow your business are invaluable, since they know every process inside out.
Training is an important way to boost staff retention. Not only should you have structured training internally, but it’s also worth creating an external training budget so even your top people can learn.
57% of British SMEs still don’t have staff development budgets and it’s losing them precious workers. Kickstarting your development plan is a great way to get ahead.
4. Embrace the latest tech
For all small business owners, tech is unavoidable in 2019. Gone are the days when businesses could rely on offline marketing efforts to bring in competitive contracts.
Utilising tech for business is about more than just email databases and setting up a functional company site, however. The latest software can help to boost security, cut administrative burdens and boost profitability.
Accounting software is a great place to start your journey into a more efficient future. Whether you run a boutique store that deals in small transactions or a mid-size factory with a respectable turnover, great software can protect your financial details and speed up the payment process.
With your administrative workload slashed by hours, you’ll have more time to focus on the bigger picture.