Business owners are often so focused on a specific Vision that they fail to realize that there are things that they are leaving out in which will risk them losing their entire business. Here is a list of very important things you need to do before you go any further in expanding your business.
Backup your data at least once per week.
It amazes me how many businesses and self-employed people I see that have their entire business on just one computer. If they were to lose that computer or have the hard drive get destroyed, their business would literally get destroyed. Flash drives and external hard drives are so cheap now. Just recently I got a 64 gigabyte flash drive for only $16 at Walmart! You should get at least 5 physical backups of your business data and back it up once per week. If you don’t do this, you literally risk losing your entire business. This is something that is very often overlooked by people who don’t use computer technology.
Systematize your business
So say for example you have a small bakery shop that you opened up. Business is literally out of control and booming. People love your cakes and cookies and you receive over a hundred orders per day. All the sudden it’s extremely hard for you to keep up, the quality of your cookies and cakes start decreasing and customers are getting more and more upset to the point where they leave you completely. This is because you are working in your business and not out of it. You’re not working on developing your business, but instead you’re working inside your business as a technician. Your business should work like an engine, and you are the auto body shop owner. You have employees that maintain the engine. This is how your business should be set up. Do this as soon as possible if you haven’t done it already or you will go out of business for sure.
Create a way for unhappy customers to communicate with you instantly
Create ticketing systems, have dedicated customer support lines, and make it so unhappy customers are taken care of right away. Your goal should be to have 100% happy customers. Although you can’t please everybody, you should at least make an effort to make an unhappy customer happy because it will decrease the chance of them bad-mouthing your business and ruining your reputation. Keep in mind that the only reason why you’re still in business is because customers are purchasing from you and not someone else. They are the ones who are writing your paycheck, not you.
Hire people with the lowest skill-set possible
This sounds ridiculous right? Who in their right mind would ever do this? For example McDonald’s is the most successful small business in the world, and it’s because they systemized their business to the point where they can hire people with the lowest skill-set possible to run that system. McDonald’s can easily afford to pay their workers $20 an hour, but the reason why they don’t have to do that is because they have already set up a system in a way that people with extremely low skill set and education can run that system. You should strive to set up your business this same exact way no matter what industry your end, because it will save you a ton of money in the long run which will increase to more profits and have your customers.
Take care of the most valuable asset
I’ve seen Millionaires and even billionaires who are extremely stressed and unhappy because they don’t take care of their self. If you own the business, you are one of the most valuable Assets in the business. If you are not taking care of mentally and physically, the business will eventually deteriorate and fall apart. Make sure you treat yourself and enjoy life! After all what’s the point of life? To enjoy it. Not to work 24/7 and kill yourself slowly.
Don’t compete with other businesses
Instead strive to be creative by inventing new products and services. Competing only makes life harder for other people and will actually bring you bad,. The universe will take care of you if you are creating and inventing things that will improve people’s lives.