The 4 P’s of Growth & Prosperity – People

Note:  Recently, StaffScapes had the pleasure of presenting at a local Chamber of Commerce luncheon. During this speech, we focused on points to help the small business owner grow and prosper in 2012.  We have taken this speech and created a series of blogs we will post based on each of the 4 P’s we feel are critical to your business.

This week, we focus on the People that make up your company. 

The People Component
As a small business owner, people are what help make you a success.  Without people, you really don’t have a business.  These ‘People’ are you, your customers (both internal and external) and your trusted partners.  They are your support system, your advisors and the reason you chose to become an entrepreneur.

Your initial and primary area of focus should be you, the business owner.  To truly grow and prosper you must understand your business and answer a few fundamental questions; where is my business now, where do I want it to be and how will I get it there.  First, we recommend that you analyze where you want to be.  Do you want to grow and expand your business or are you content with serving the needs of your local community?  Next, determine what you want for yourself.  Do you want balance or are you driven and willing to work long hours? Once you have answered this question, incorporate this within your mission statement and create your vision and values with this in mind.

Now that you have established the core purpose for your business, it’s time to build a strong team to help deliver the level of service you have aligned with your mission, vision and values.  Making key decisions when hiring your staff or training those who you already employ, will determine in part the future success of your business.  Review the strengths and weaknesses of your team.  Are there areas where one employee could help train another? Do you have the right employee in the right job or are their abilities a better match to another function within your business?  Do your employees understand the functions of each department enough to “pitch hit” in the event of an emergency?

Once you understand your business, where you want to go and how your team will help you get there, you must focus on your customers to achieve these goals.  Get to know your customers, what they like, what they don’t and ask them for input on products or services they would like to see you offer.  Give credit to great ideas as this shows your customer that you listen.  Establish programs to provide value for your clients and create a program to show appreciation.  Simple “thank you” notes on anniversary dates, for a purchase or to acknowledge something of importance are great ways to show appreciation.  Keeping your name in front of your customer and showing appreciation will keep them coming back for years to come.

Finally, you can’t do it all.  Enlisting the help of experts will keep you on track and making the right key decisions for your business.  Working with a team of trusted advisors is another important sector for the People that make up your business.  Find leaders and knowledgeable people to help you with areas such as financial planning, marketing, accountability, legal and human resources.  These are people like your CPA, attorney, family and your Human Resources advisor.

Our next post will focus on understanding the financial side of your business so that you may ultimately increase your profit.

Understanding the business of employment is tricky and StaffScapes can help you be confident in your “People” practices. By helping you to stay compliant and assisting you with supporting your key people on your team we will help you grow and prosper and keep you focused on the reason why you got into business. We will help you with benefits, training and guidance to help make your company one that others want to work for.