Written by: Gloria Martinez on 3.8.2022
Starting a small business is an exciting step, but keeping it running can be a challenge — especially if you don’t have a lot of experience! No matter what kind of business you have, there are some rules of thumb that can help you make the best choices for your customers, your employees, and your bottom line. Here, the company culture experts at Civility Partners share some tips to help your small business succeed!
When starting a business, make sure you’re in compliance with state and federal regulations. Certain industries require licenses or certificates to operate and have to follow special laws. Failing to keep your business in compliance can result in heavy fines, legal issues, and even suspension or revocation of your professional or business license.
Internal Practices and Company Culture
Maintaining the right company culture can keep employees happy and safe and help prevent internal conflicts in management, lawsuits, and issues with third parties. You should also work to prevent discrimination within your business to protect your employees and avoid legal censure or lawsuits.
If you’re noticing a downturn in your culture, or if you’re starting to hear about issues related to supervisors, it’s imperative to address these problems immediately. A workplace deemed toxic can hurt your employees and your efforts to grow. The best way to root out discord and to support your staff is to work with a group like Civility Partners. We can assess your culture and provide solutions to make your business culture better, which sets everyone up for success.
Advertising is crucial to any business, but if you’re on a tight budget, you need to get creative. Luckily, advertising on social media is free!
Eventually, you might want to consider hiring a marketing professional as part of your team, or contract with an outside company to do the marketing for you. Using a professional can yield better results in a shorter period of time. Just bear in mind that certain industries, such as food production and real estate, have strict rules about advertising that you should be familiar with.
Quality control is a crucial aspect of your business operations, and you should have a thorough system in place to meet customer expectations every time. A sufficient quality control method can make your business more effective and lessen the frequency of customer complaints.
Consider hiring a certified tax professional to file your financial statements with the appropriate entities. Trying to do all the accounting yourself can be a daunting task prone to errors, and those errors can cost you a significant amount of money or get you into trouble with the IRS. It’s also useful to have an accountant audit your finances, as they can investigate inconsistencies or detect theft happening in your business.
The Benefits of Best Practices
Following these best practices is crucial if you want to run your business effectively, remain in compliance with the law, and reduce the amount of stress and liability placed on yourself. Doing so also makes it far easier to focus on your core operations and your customers.