There are 3 key areas every business should track to succeed; support staff, customers and financial satisfaction. If any are not in alignment your business will suffer. All three need to have measurable devices to be cost effective and pinpoint changes.
Support Staff Satisfaction
Support staff include employees and contract services. They are your source to help you build your business vision. As the owner you set the standard to provide the vision and lead how your business is conducted. It is important to build a collaborative team with the correct talent and skills. It is essential to choose characteristics that will support your endeavor and the right fit for the culture you want to cultivate to bring value to your business.
How do you track Support Staff Satisfaction?
- Encourage innovation to new ideas.
- Be open and approachable to build loyalty
- Be open to letting others flourish but stay the leader that steers each outcome
- Be flexible. Acknowledge and respect your support staff have obligations outside of business
- Build a culture of trust and camaraderie with all your support service workers
Customers are the resources that make a business exist. There are 4 main types of customers; supporters, regular, occasional and one-time. Each customer type is a source of revenue stream. There will always be competition so it is necessary to come up with innovative ways to keep customers happy and coming back.
How do you track Customer Satisfaction?
- Develop innovative creative ways to move customers from one time to supporters
- Provide excellent service for all your customers
- Build loyalty by appreciating your customers
- Keep customers coming back taking the extra steps to be big on delivery
- Be open to customer suggestions of products or services they like to see available
Every business owner should be able to pinpoint at any moment where there business is financially. Without a solid handle on your finances you cannot make sound decisions and your business is vulnerable.
How do you track Financial Satisfaction?
- Invoices are paid within the time period with no late fees or penalties
- There is a healthy cash flow
- Processes are established for receivables to be sent and received
- Statements are reconciled monthly to make sure you know exactly how much you have in your bank account
- Know when your cheques clear and dates for automatic payment process
Develop processes so you are able to keep track of all three key business satisfactions on a consistent bases. This will ensure your business is succeeding and moving forward. It is a lot of hard work and with persistence you can make it happen.