Some people feel owing a business and running it is actually an easy task until you have yours and people working under you then you know it's not something to take lightly. Owning a business is one of the hardest business out there. You have to know your cash inflow and outflow. Working under someone made me realize how hard it is to own a business and staffs that don't actually care if your business strives or dies.
I will be talking about 3 things, first, how to keep your business running smoothly. secondly, managing relationship with your staff and investment.
How to keep your business running smoothly: for a flourishing business, you have to maintain a good relationship with your clients. How you interact with your clients will determine if they will come back or not, be it a starting business or an already established business, it will also determine if they will refer you to their friends or give a bad review. Also, for a successful business, accountability is key. For everything you buy and sell, you must have a book of entry. Note everything down so that by the end of the month, you will know if you are making profit and loss.
Managing staff relationship: for a successful business, maintaining a good relationship with your staffs matters. In this aspect, people's opinion defers. For some business owners being strict and adhering strictly to business helps in the aspect that the staffs won't take you for granted and your business too. While some, being friendly with their staffs brings respect and makes the staff outspoken and takes their business as theirs. Like I said, our opinion defers. What works for you might not work for someone else.
When you see that your staffs are begining to be mischievous, be it with your funds, customers and you, you have the right to fire them and hire new ones or you correct them but when corrections are not taken then it's your business and a business owner can't fold their arms and watch things go north. Let's take a saloon for an instance. When your staffs are reluctant to work, rude to customers, see a customer walk in and no one cared to attend to the client. Two things will happen, it's either the client leaves or the clients stays back, get the services done and never comes back. Why? It was not a friendly environment if you ask me and clients will always leave a bad review. As a business owner, when such complaints are laid, first call everyone to order them you take the necessary steps to ensure the client is no longer dissatisfied with your saloon. This is where a good customer care comes in. Know how to coerce your client, even if the energy gotten from the staffs were low, they should come back because you have a good customer care.
Investment: As a business owner, you don't just spend your profit, you also invest in other things, things that will yield income like stocks, Treasury bills, be it long term or short term.
Why do people invest? Some invest to generate profit, some invest so as to have something to fall back to in the future.
Conclusion.
Always invest, maintain good relationship with clients and staffs, always have entries for every purchase and sales, record your profit and loss and Once again invest. Have a good customer care representative.
Remember,Not everyday is Christmas for a business owner.
Your opinion matters too, feel free to comment your take and thank you for reading.
