Your Guide to Creating & Growing a Successful Business

Successful Business Guide

A successful business requires hard work, dedication, and the right mindset. But without a shadow of a doubt, it also needs to have the right foundation from the beginning. Having all of your systems in place from the start will pay dividends in the future. To help you create and grow a successful business, we’ve put together this guide which contains information about identifying the systems your business need in place, including

  • Writing an office procedure manual
  • Organising your business finances
  • Selecting your team
  • Using helpful apps and software
  • Asking for help

We’re going to assume that you already have identified the business opportunity for your business. That’s not what we are here to help you with today. Rather, we’re going to guide you into identifying and setting up a successful business from that point forward.

A Successful Business Doesn’t Just Happen Without Having Systems In Place

Like most things in life, success doesn’t happen by good luck. There are many small steps to take in order to create and grow a business, and one of the first is the identification of the systems you will need in place.

When we talk about systems, we are referring to things as simple as recording appointments in a diary, right through to complex systems such as pricing your products or following a health and safety plan. Business systems can be seen as building blogs used to start and grow your business. They connect each part of your business together, helping it achieve your business goals.

When creating a business system, you need to identify all of the individual systems and processes which make up the working parts of your business. This can be really hard to do alone, which is why seeking support from others can save you time and money. We’d be more than happy to help you identify and then implement the right systems and processes for your business – give us a call.

A Successful Business Has An Office Procedure Manual

If this is the first time you’ve ever heard of an office procedure manual, you’re not alone. Many business owners don’t know what one is, let alone have one. But in order to be successful, a business needs to be able to operate without looking inside your head.

Most small businesses are run by the owner, with perhaps some help from family or an independent contractor. They tend to keep the knowledge of how their business operates inside their heads, which leads to problems down the track. Sickness, a business sale or new employees will throw a spanner in the works when running a business. Without a documented office procedure manual, it’s anyone’s guess as to what should be done if the owner can’t tell them what to do.

Even if you haven’t yet started trading as a business, creating your manual will make things far easier for you during start-up. Take a read of our article You Need an Office Procedure Manual: Here’s Why to learn how to write your own. Or if you prefer, we can create one for you, letting you concentrate on developing other areas of your business.

A Successful Business Organises Their Finances

There’s no denying that starting up and growing a business requires a significant investment. Whether that comes from personal funds or as a business loan, it is vital to ensure that you have a financial plan. This can be done through the creation of a business plan, in which details are included about cashflow predictions. Often it can be very hard to predict what your income will be, which is where it is wise to seek advice from professional bookkeepers. A good bookkeeper can help you with understanding how much income and outgoings you’ll have, plus keep all of your paperwork in order. They can assist with invoicing customers and chasing up debts, as well as providing monthly financial reports so you are always aware of what’s happening to your money.

Successful Businesses Pick the Right Team

It’s a rare new business that takes on paid help from the word go. As you do grow though, you will understand the importance of outsourcing tasks from within your business. Being a jack of all trades and a master of none will not help your business achieve its goals. Instead, concentrating on the tasks you enjoy and do well will, hiring a VA to help you with tasks you dislike or need assistance with.

When choosing the right team to work with you, remember that it’s a bit like researching. Spending time finding the right person or team members now will save you time and money in the future. This research period will involve you deciding what it is you really need and writing that down, asking for personal recommendations from others in business and contacting possibilities to arrange a time to chat. Spending time talking with possible contractors or VAs is time well spent. You understand what their communication skills are like, their work ethics and whether they’ve got the right skills to help you. This interview goes both ways though, as they too need to ensure they can provide your business with what it needs. Why not start your researching with us by getting in touch and booking a time for a free consultation.

Success in Business Comes from Using the Right Tools

Facebook or Instagram? Outlook or Gmail? There are plenty of tools for you to pick from as a business owner. It’s your job to first identify the types of tools you will need, and then research each one to check it has the specific capabilities you are needing.

Some of the things to consider during this process are:

  • Cost per month or year
  • Number of users allowed sign-in access
  • Ability to grow upwards and outwards within the same tool
  • Integrations with your website or bank
  • Popularity within your industry
  • What your customers or clients are using

If we take a look at online accounting software, for instance. The two major paid subscription players are Xero and MYOB. Both have their pros and cons, with some bookkeepers preferring one over the other. For us though, we decided to specialise in Xero because we could see that the easy to use dashboard provides in all in most cases of the tools our clients needed. For help in choosing the right tools such as website platform, accounting software and bulk email solution, let us share our expertise with you. Drop us a line today.

Success Comes from Knowing When to Ask for Help

Finally, it’s easy to become stuck in a rut and isolated as a new business owner. Often we feel that we need to do everything and that asking for help is a sign that you’re not cut out to run a business. Nothing could be further from the truth though. A smart business owner is one who knows that they can’t do it alone and reaches out for the help they need. Whether this is personalised advice, a business mentor or a virtual assistant, asking for help is something every owner should do!

Having a list of possible resources you can use included within your business plan would be highly useful. But when it is your first time running a business, you don’t know what you don’t know. As you can’t predict all of the areas you’ll need support in, keep your list of helpful resources as wide and varied as you can. Include things such as IT support, website maintenance professionals and bookkeepers.

At InDeed We Can, it’s our job to make the lives of our clients easier and their businesses run smoothly. We’d love to support you and help in the creation and growth of your successful business. Let’s make a time to chat about your goals and how we can help you achieve them today!

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