Every business owner expects risks, and managing them properly is a vital task. Business insurance is an important piece of the puzzle, but there are several steps you should take first to calculate and manage your risks.
Run and Grow
What do you do in the event of a loss? As time goes on, your business is almost certain to have deal with an accident, storm, or other kind of loss at some point. By following these steps, you and your business will be able to come through the crisis strong as ever.
Natural disasters strike unpredictably and can cause major problems for your business. You might have to shut your business down for a while to recover, but your expenses will keep piling up. Business interruption insurance is designed for just this scenario.
Performance reviews should be an opportunity for both you and your employees to improve. You should get a measurable description of employee performance, and employees should get a clearer vision of your expectations. It’s a problem solving process, not a fault finding expedition.
Strong customer service is a valuable asset for a business creating a great customer experience. But how do you measure great customer service? A new suggestion is called Customer Effort Score, measuring how easy it is for customers to solve problems with your business.
Increasing customer loyalty is a great strategy, because getting your existing customers to come back more often to buy more will help your sales just as much as getting new customers, and it’s a lot cheaper. Here are a few specific things to keep in mind to increase customer loyalty.