Whether your business is in its first year, or going strong and turning a consistent profit, here are six details to keep an eye on. Overlooking these business aspects can cause financial hardship, decrease your profits, or even lead to having to close your doors permanently.
Recently, I've been getting a lot of questions regarding employees who leave to become a competitor so I thought I'd take this opportunity to discuss ways to protect your small business.
Here are some symptoms that show you need to change what you are doing. Each of these foreshadowed a major shift in our business direction, strategy and outcomes.
The financial repercussions of poor security practices can sink any SMB no matter how careful you are. As such, it's important to focus on mishap prevention to reduce negative outcomes. Whether your business measures annual sales in thousands of dollars or millions, sound security precautions are imperative.
These days, it is almost impossible to find a small business where everything is done at the home location, by full-time employees. We are in the age of outsourcing.
When an employee becomes pregnant, it may cause some mixed feelings or concerns for both parties. However, with the right support system, the team can end up stronger than they were before.
Employee turnover is expensive. Human research professionals estimate the cost of turnover ranges from 50 to 200 percent of an employee's annual salary. Furthermore, an employee resignation can impact the morale and productivity of your remaining team members.
Loyalty looks at building a relationship between a business and its customers. On the other hand, retention is about customer preservation.
Every entrepreneur I know is short on resources, including time, money, and skills. The last thing they can afford is to waste any of these, but in my mentoring and coaching activities, I see it happening all too often.
Customer service in today's world includes reliance on technology for your customer relations management, and a good VoIP business phone systems are essential for efficiency.