Published On: Fri, May 12th, 2017

Five Things You Need To Keep Your Business Running

Five Things You Need To Keep Your Business Running

Photo: Unsplash

The adage that if you want something done properly, you should just do it yourself applies nowhere more than in the world of business. If you run your own small business, you simply cannot afford not to be in the office every day and working from home on the weekends. Without you, things would simply not get done. In this regard, running a business is a little bit like raising children. If you are not always vigilant, something is going to go wrong. For example, when you hire new staff, you cannot just trust that they will work impeccably from their first day. They are people and not machines, and they, therefore, need encouragement and motivation. This applies to even the most hard-working, dedicated employees. One way of making sure that your staff remain productive is share with them the ethos of your company: so as not to alienate them, you need to tell them why they are doing what they’re doing. Money may be enough to motivate some people but for others, they need to know that they are providing excellent service and making a positive difference in the lives of their customers. You should also consider offering your employees opportunities to advance. No one wants to stagnate in the same position for the rest of their career. The people that you work with every day are the force that keeps your business afloat. If you do not give them enough attention, you will suffer. Here are five other things that you need to be mindful of when running your business:

 

  1. They say that money makes the world go round, but in modern industrial society, fuel is crucial too. Nearly every business relies on transit to one degree or another. Sourcing the most economical, environment-friendly Gas Oil is important. If you do not want your business to literally ground to a halt, thinking about fuel is a must.
  2. Not only is modern society industrial, it is also connected and high speed. The internet is an amazing resource for businesses all over the world. However, it can be dangerous too. Last year in the UK, 46% of businesses were subject to cyber attacks. The threat is real and if you do not prepare against it by investing in cyber security software, your business could be severely compromised.
  3. Cash flow problems are something that every business can face at one time or another. If you work for clients and they do not collate their invoices until the end of the month, you may find yourself struggling to complete work for your latest clients. Invoice factoring may be able to help.
  4. Taxes, however much one may think they are too high (or not high enough), are a fact of life. If you make a mistake on your returns, you can easily end up in all sorts of unnecessary legal and financial trouble. Hiring a tax lawyer may sound expensive but it is often a lot cheaper than a fine.
  5. Finally, remember to take time off. Your business may be able to go for years, but you can’t. Relax, and you’ll come back more prepared to continue growing and making money.

 

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