• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Submissions
  • About Us
  • Contact Us
  • May 18, 2022
  • Startup
    • Creating a Plan
    • Funding a Startup
    • Franchise Center
    • Getting Your Office Ready
    • Making Your Business Official
    • Marketing Your New Business
    • Personal Readiness
  • Run & Grow
    • Customer Service
    • Human Resources
    • Innovation
    • Legal
    • Operations
    • Risk Management
  • Leadership
    • Best Practices
    • Communication
    • Green Initiatives
    • Open Culture
    • Strategic Planning
    • People Skills
  • Sales & Marketing
    • Advertising and Lead Generation
    • Marketing Innovations
    • Marketing Plans
    • Online Marketing
    • Relationships
    • Sales Activities
  • Finance
    • Budgeting and Personal Finance
    • Payments and Collections
    • Tax and Accounting
    • Pricing Strategy
    • Working with Investors
    • Working with Lenders
  • Tech
    • eCommerce
    • Hardware
    • Software
    • Security
    • Tech Reviews
    • Telecom
  • Shop

SmallBizClub

Helping You Succeed

Home / Leadership / Best Practices / 4 Essential Resources Your Company is (Still) Neglecting
4 Essential Resources Your Company is (Still) Neglecting

4 Essential Resources Your Company is (Still) Neglecting

4643 Views

Aug 3, 2017 By Vikas Agrawal

How many times have you wondered how to reach new horizons in your small business reality? Did you ever stop for a minute to compare yourself with what competitors in the local market or abroad happen to be doing? Most certainly yes, otherwise you wouldn’t rank as a promising entrepreneur due to the rapid shift in business tendencies these days.

Having said that, not every positive outcome is the just product of good ideas: effective managerial resolutions are the answer to business growth; hence the importance of acknowledging where you want your business to go and what is still missing from the equation to date. Are there tools that make our path to success a much smoother experience? Let’s review four essential resources you need to implement the sooner, the better.

#1 – Business Knowledge

One of the reasons why many companies are set to failure is directly linked to the amount of knowledge its CEO has. How can you be a succeeding team leader, who inspires your workers to give their best and continuously improve the services of your brand, if you don’t have the slightest idea of what your niche is all about?

Photo courtesy of Unsplash

Same rules apply for basic financial knowledge, as among the responsibilities of a CEO are the proper management of financial assets to keep goals a reality in both long and short term. If the captain of the boat does not know where is he/she heading, then don’t expect employees to compensate such failure.

#2 – The Importance of Tracking Your Maintenance Routines

Another vital aspect of any business is to keep close tabs with not only what you are producing but also with the status of the machines involved in the production process. Regardless of the industry, your company is dedicated, computers, machines, vehicles and many other resources are considered as investments, hence the importance of extending their utility time as long as possible. This naturally involves maintenance procedures that ought to be done accordingly to a strict agenda.

Click here to read more on the essential traits of successful businesses

Photo courtesy of Unsplash

So, you may say remembering dates or keeping your agenda in place isn’t your forte. Here’s where your company gets the benefits of software by implementing Computarized Maintenance Management Systems (CMMS) solutions: tracks and schedule upcoming maintenance routines, calculates the machine downtime cost per hour, etc., all in a cloud-based system as the standard proves to be these days.

#3 – In-Company Training

The recipe list for many success stories alongside the world has one common factor: realizing the potential of your workers. Sometimes when we hire personnel, they just don’t meet all the aspects we happen to be looking for, but there’s a constant pursue personal development, to meet new challenges and embrace new knowledge.

Photo courtesy of Startup Stock Photos

This is where managers need to make a difference by introducing new needed knowledge to their working crew in the fashion of training with webinars, congress, in-office coaching sessions and so on. If the offer does not prove to be exciting enough on its own, financial rewards can be granted for those who get high marks at these courses, or exclusive chances to scale up in the company such as limiting certain positions to those have a specialized education on certain topics.

#4 – Feedback from Customers

Finally, and as the common saying goes, the client is always right. Even if you don’t agree with such statement, your mindset needs to shift its focus towards such approach and so does the attitude of your working crew.

 

Photo courtesy of MyStock.Photos

Is there room for improvement? Always, so why not ask clients which aspects they think you need to develop further? For making this a reality, there are several ways in which we can interact with customers for asking their opinion:

  • Using review plugins at your website, in case you have an e-commerce company.
  • Making promos through email and social media.
  • Doing follow-ups with clients to see what was their experience with your products and making suggestions for new products that might catch their interest.
  • Through live chat apps.

In the end, it’s all about reaching the desired reputation for shifting your conversion rate towards more than positive values. Most of these resources (or tactics, as you prefer) do not require great investments on your behalf; it’s all about finding the proper attitude to turn opportunities into reality.

Filed Under: Best Practices Tagged With: Learning, Overcoming Obstacles

Avatar

Vikas Agrawal

Vikas Agrawal is a start-up Investor & co-founder of the Infographic design agency Infobrandz that offers creative and premium visual content solutions to medium to large companies. Content created by Infobrandz are loved, shared & can be found all over the internet on high authority platforms like HuffingtonPost, Businessinsider, Forbes , Tech.co & EliteDaily. Follow @infobrandz on Twitter and Facebook.

Related Posts

  •  Learning Strategies to Help Your Employees Get Hooked
  • Don’t Just Rely on Experience to Succeed – Studying Can Improve Your Small Business
  • TOP 5 Machine Learning Courses in 2020

Primary Sidebar

Random

3 Most Devastating Small Business Pitfalls (and How to Avoid Them)

May 17, 2022 By SmallBizClub

smile---personalization---customer-service-success

Consumers Want Personalized Experiences and Products: Here’s How to Do It

May 16, 2022 By Gemma Moss

7 Ways to Improve Your Fleet Management Workflow

May 16, 2022 By Eleanor Hecks

5 Crucial Things To Know About Paid Advertising

May 14, 2022 By Jeremy Bowler

Business Continuity: Everything You Need to Know

May 14, 2022 By SmallBizClub

Footer

About Us

Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Copyright © 2022 by Tarkenton Institute, Inc. All Rights Reserved | Terms | Privacy