As a small business owner, you have a lot on your plate. But if you’re looking for ways to improve your organization, there are plenty of methods to try out. Below, we’ve compiled a list of ways to boost your small business. Keep reading to learn more about how to create a more successful and profitable small business.
1. Hire the Right People, the Right Way
When you’re in charge of a smaller company, it can be difficult to figure out how to hire people who can help your business grow. The addition of even one new employee can make or break your business since you’re running with smaller margins of error (and usually a smaller budget!). A great employee can help you grow your profits, increase employee morale, and lead to better efficiency. By the same token, a bad hire can end up costing you money, time, and headaches. With that said, there are tons of ways you can improve the hiring process so that you’re more likely to end up with an employee who helps your organization be better.
First and foremost, you should consider using applicant tracking software (ATS) to better organize, filter, and manage job candidates and their resumes. ATS also allows you to search through applicants with filters for location, skills, or education. It’s an efficient way to keep your hiring and interviewing more organized.
After you’ve gathered your potential pool of candidates, make sure to conduct a screening interview over the phone first. Here are a few questions you may want to ask to get a sense of a job candidate:
- Why do you want to leave your current position?
- Why do you want to work for the company?
- What are your specific strengths for this role?
- Describe your current job responsibilities.
- What is your management style?
- Do you enjoy collaboration or are you more of an independent worker?
- What salary range are you looking for?
Another important step to take during the hiring process is conducting a background check on candidates. Although interviews can reveal a lot about a potential person, it’s important to verify their identity and background through official means. Many companies even offer a free background check to try out the service.
A background check can help ensure that you’re not hiring somebody who ends up being a liability or has falsified their qualifications.
2. Use Your Network
People are crucial to your success – and we’re not just talking about your customers and current clients. It’s incredibly important to spend time building up your professional network. Not only will this expand your potential business opportunities, but it also gives you insight into your industry and close contact with thought leaders. Here are a few ways you can build your network:
- Join Meetup.com business meetings
- Comment, create content, and join virtual meetups on LinkedIn
- Join local marketing groups
- Join workshops
- Connect with others on social media
By building your network, you can start creating an authoritative presence. Plus, when you’re in tune with other leaders in your industry, you can better anticipate changes and respond to them.
3. Reward Your Staff
Besides hiring the best of the best, it’s crucial to think about how you’re going to retain top talent, as well. Talented and motivated workers help make your business more successful after all, so it makes sense to try and keep them happy. You might not think you have a lot to offer when it comes to perks, but small businesses can actually offer unique benefits not found at bigger organizations.
Here are a few ways you can reward your hard-working staff:
- Stipend for classes, courses, and other professional development learning
- Dog-friendly office
- Flexible work schedule
- Remote work opportunities
- Unlimited time off
- Matching 401(k)
- Fully covered health, vision, and dental insurance
- Stipend for remote workspace
- Gym membership reimbursement
As a business owner, it’s important to take steps to individually recognize and reward employees who are on the ground floor. By incentivizing your employees with great perks, you’ll have a better chance of keeping them happy.
Although being a business owner can be tough at times, it also offers plenty of opportunities for growth as well. It’s important to focus on people over everything else. You should emphasize growing your professional network, hiring awesome people, and learning how to keep your best employees.