CEO Corner-5 Tips To Ensure Success for Small Businesses

Written by Soong Chong, CEO

As we have passed the middle of the year I believe its important for a business to evaluate where its at & what needs to be accomplished for the second half of the year. It is always beneficial to do frequent evaluations as it allows you the opportunity to see what is working & what isn't. Here are 5 tips that I believe ensure business success:

Set Objectives
At the beginning of the year it is vital that you have some sort of indication as to where you would like your business to go & what you would like to achieve. Of course these plans may sometimes go off track but the clear message here is that some sort of objective must be set. For example, you can set an objective such as "I want to employ 10 additional staff members to ensure my business grows". In addition, regularly monitoring your progress in relation to reaching this goal is mandatory to your success.

Have A Great Team
In the words of Mary Kay Ash "A company is only as good as the people it keeps". Don't simply hire someone just to fill a vacant position. Hire someone that you believe possess the skill and ability to complete the job at hand. Your employees should have the businesses best interests at heart. With the right team, your business will thrive.

Think Outside The Box
Whatever your business may provide to the industry, there are another thousand companies that offer the same thing. In order to differentiate your business from others you must think outside the box. Think of new and innovative ways to attract customers. This can include using social media to connect with current and potential customers. Think of different and better ways to do things and always strive to do better.

Have An Optimistic Attitude
Times can be tough and the economy fluctuates. We cannot control this but we can control our attitudes. No matter how hard it may be, try to keep a positive mind set. By having a positive state of mind your employees will feed off your great energy, which in turn will affect their productivity and results.

Encourage Open Communication
Having open communication with staff is vital to ensuring business success. Your employees will be able to think of newer and better ways to conduct a task or project. Ensure that you keep an open mind and listen to suggestions & feedback, not only from your staff, but from your customers as well. Feedback & suggestions allows you to target certain practices in your business that may not necessarily be working well, allowing you to improve and ensure the success of your business.