Right now, the number one priority for small business owners across the country is business growth. Of course, a vast expanse exists between saying you want to grow your enterprise and actually achieving that goal. While this certainly requires a plan, don’t forget action is the point of strategy. Try these 5 tips to start maximizing the growth of your small business.
Hire A+ Talent
Especially in a small business, talent is power. You don’t yet have the benefit of a massive resource infrastructure to support your mistakes or brilliant ideas. What does that mean for you? You need talent to bridge the gap. After all, a single productive worker can benefit your company much more than a room full of unmotivated professionals. When you hire new employees, think of each individual as an investment. Consider these questions: – Will this person produce immediately? – Will this person grow well within the company? – Will this person actively contribute to the work environment in a positive way? Don’t settle for professionals who you think can do the job. Look for talented individuals who want to exceed expectations and push the boundaries of successful business growth.
Managing a Full Pipeline
The economy is recovering, which means there are plenty of job seekers. However, you need top talent and sorting through resumes will only get more time consuming. Now more than ever, small businesses need a strategy for recruiting the best and most relevant talent to the enterprise. Of course, you can employ analytics software and devise a plan of attack for the many job sites available, but you should really focus on developing your brand. Think of extremely recognizable companies like Google or Apple. Hiring managers in these Goliaths don’t need to hunt for talent, because top talent is naturally attracted to the company’s brand. It takes time to build this kind of massive brand, but some of these companies’ tactics will work well for you small business growth.
Plugging the Leaks
You don’t want to ruin your successful recruiting tactics with a high turn over rate. What’s the number one reason professionals leave their jobs? They have a negative relationship or feelings towards their direct supervisors. Pay close attention to these relationships within your company and make it a priority to foster positive working relationships. Additionally, find other ways to stay in touch with how your employees are feeling about their working environment. The thing about top talent is eventually they will gain the experience and portfolio to be hired anywhere. With that kind of mobility available to them, you’ll be able to retain your employees if they see you’re striving to keep them around.
Develop Mutual Trust
Especially if you’re a founding member of your small business, delegating important tasks to others can be quite a transition to overcome. You want to ensure everything is done well, but that’s why you hire top talent. Hire people you believe you can trust to work well without your direct supervision and let them work. When professionals feel their supervisors trust them to do well, they feel motivated to perform well and meet those expectations. However, the employee must trust you as well. Make sure you give them full access to all the resources they need to complete their tasks without constant check-ins and questions. Your professionals want to do well and have successful careers, so give them everything they need to make quality decisions and