28 September 2016 14:00
5 good habits every business owner should adopt
Running your own business is one of the most satisfying things that you can do, especially if you’re using it as a vessel to promote a product or skill that you truly and passionately believe in.
But it can be all too easy to fall into some less-than-savvy
habits that impact your company if you’re not careful!
Want to do it all yourself? We get it, your business is your
brain child, and it’s easy to feel that you know how everything should be done.
But this can be a dangerous trap, since it can easily lead to burnout that
affects how you make the bigger, more important decisions that really need your
By hiring staff that you believe in, and empowering them to
make their own decisions (and even mistakes) they will learn and grow within
your business; giving the company the opportunity to thrive and even expand.
Not only that, your employees can begin to grow towards self-actualisation and
Get to Know Your Employees
Not unrelated to our former point, a mistake that many
business owners make is distancing themselves from their staff. Your staff
really are your front line, and you need to get to know them so that they not
only respect your authority but also truly trust your decisions, and you
The old adage that everybody you meet has something to teach
you is very true in business; by really listening to the people you work with,
you’ll not only pick up valuable new perspectives but some new tools, views,
thoughts and skills.
Get a Life!
There’s always one more task to complete, and putting in a
couple of extra hours quickly becomes working 12 hours a day, 7 days a week.
We’ve already warned of the dangers that come from burning out, and no matter
how much energy you have to put into your company, forgetting to have a life
outside of work will drain your enthusiasm far too quickly. Strike a good
work-life balance to ensure that you can actually enjoy the successes that your
business brings you.
OK, this may sound obvious, but bear with us… From customers
to staff, important data that may be the target of identity theft is your
responsibility to look after. Make sure that bank account details, addresses
and other personal details are secured well under digital lock and key. It’s
never good to cut corners in business, but in this instance it’s absolutely
vital that you do things the right way.
Your privacy and security features need to develop alongside
you and your business. Establishing a fool-proof security procedure, through
careful research of what best fits your company, is paramount to ensure that
you, your company and your customers are protected against all eventualities.
With businesses increasingly moving towards the ‘Cloud’, it pays to be
Know where you want to be in a year’s time? What about in
five years? Hopefully you feel comfortable answering both those questions with
a resounding yes – if not, it’s time to do something about it. Don’t settle for
anything less than a detailed plan that lays out exactly where you’re going to
take your business… and how you’re going to do it.
Careful planning and consideration not only gives your team
and your shareholders confidence in your ambition and where you’re going, but
it really help focus campaigns and strategies, creating a common and clear goal
Find that you’re guilty of any of the above? If so, it’s not
something to fret about: we’ve all been there. The important thing is to
identify these areas before they start having a long-term impact on your
company. We hope that this article will help you take the first step towards
making a positive change – for your business, your employees, and yourself.
Blog supplied by Rapid Formations. Rapid Formations help startups get off the ground. With a range of company registration
and formations packages, helpful advice and plenty of additional services,
they’re there to start any budding entrepreneur off on the right foot.