25 Tips For Running A Profitable Company
There is little ‘magic’ involved in running a business; although if you do things properly, ‘success’ often seems to occur magically. There are lots of books and other media devoted to business leadership. Dave Ramsey’s EntreLeadership is one of the best.
However, sometimes simple ‘rules to remember’ can get us through difficult situations. Here are some of the ‘rules’ I have followed since day one in business:
Only promise what you can realistically deliver.
Keep communication open with everyone involved.
Set clear goals and make sure your expectations are clear.
Know your limitations.
Don’t play favorites. Give credit where credit is due.
Don’t micromanage. If you’ve trained them properly, they’ll know what to do.
Keep any promises you make to them.
Find out what motivates them.
Be open to criticism as well as suggestions.
Explain things simply. Instruct rather than order.
Focus your energy on things that matter.
Be punctual. Stick to schedules and routines.
Do your least favorite task first.
Managing your finances.
Set up a realistic budget. Spend only when it’s necessary.
Learn to do more with less. Don’t be wasteful.
If you have employees, compensate them well.
Communicating with Clients.
Remember your customer is the “Boss”.
Work hard to retain your current customers as much as you recruit new ones.
Stay in touch. Keep open lines of communication.
Resolving Customer Issues.
Don’t ignore the problem.
Manage and control your emotions.
Take the blame.
Get the facts first.
Rise above the crisis. Try to depersonalize problems.
These 25 Tips won’t get me a call to teach at some Ivy League university, but they have helped me to build a very successful contract cleaning business, as well as several other businesses.
Try them out: you may not get them all right, every time. Your goal is to just get a few more right as time progresses and your business grows.