Small Business Practices to Keep Your Operation Running Smoothly
Building a Solid Foundation for Your Small Business Operations
There is no denying that running a business is a challenging task. You made a choice, and “the challenge was accepted.” So you are now the proud owner of your very own independent insurance agency, and for that, we congratulate you.
Now, the question is, how can you make sure you establish a solid foundation that allows your operation to run smoothly? There are many things you could consider. We want to offer a few best practices that can help you achieve that goal.
Define Clear Processes
For things to be clear, they need to be standardized and documented. Make sure you take the necessary time to write down everything related to your process and share that with your team, so everyone is on the same page. Do this whenever you update your current processes or introduce a new one. Also, get together for a Q&A to clear up any questions there may be.
It’s hard to know if you’re doing a good job if you don’t know what is expected of you. Don’t assume your team knows everything. Instead, make sure you effectively communicate with them. Set up monthly meetings with your team to discuss status, updates, accomplishments, challenges, and any other relevant information. Be sure to assign out follow-up tasks to get things moving throughout the month.
Be Open to Feedback
Even when you’re in a position of authority, it is a good practice to receive feedback, as there is always room for improvement. Make yourself available for constructive criticism. That will make you more relatable since it is a way to say you are willing to work on your weaknesses for the benefit of your business. Your team will respect you for it.
Make Decisions Based on Data
It is easy to be tempted to rush into making business decisions, especially when faced with an opportunity you might feel like you can’t resist. However, in business, emotional decisions rarely provide the results you might expect. It’s essential to maintain an objective perspective when it comes to decision-making. Data can provide the information you need to determine if you should seize that opportunity or let it go.