In this series, we are sharing our advice and tips for how to make your small business more profitable. Last week we shared tips on why customer care is at the core of your profits, and how make the client journey a smooth and enjoyable one. This time we are sharing how to make your team feel appreciated, and why that is so important to your bottom line.
How to be a profitable business - Team Care
Your team are the ones that run elements of your business. Whether you have "traditional" full time employees, part time staff, contractors, or freelancers, they are all a part of your business, and are essential for your success & profits. When you create a caring environment for your team, they will become more loyal, supportive, and work harder for you, thus maximising your business success, it just takes some steps to make sure they feel this way.
- Have regular contact with your team. You may be the boss, and you may have minimal time, but making sure that you give time to your team is essential for ensuring you know what is going on, how they are doing, and any areas that need improvement before it becomes a major issue. Whether you email them regularly, pick up the phone to speak with them, or arrange team calls for the whole team to speak with one another (which during these times is essential with the remote working trend being mostly taken up!), you need to give your team time to speak with you and know that you are engaged within the business.
- Respond to and consider their feedback. Your team often know what is and isn't working very quickly, as they are the ones who are seeing things happen. You may be a very hands-on leader, but you have created this business, and the saying "2 eyes are better than 1" is no more true than in a business situation! Consider the feedback you receive during appraisals, and when they are given to you during meetings, and respond appropriately, even if it's that you will take it on board and come back to them. Your team need to know that you are listening and open to change.
- Don't micromanage! We will go more into delegation in a future post, but micromanagement really can cause a rift between yourself and your team. If you have created a process that works for your team, and you have hired people who know what is expected of them, step back and let the delegated tasks get completed. This doesn't mean you can now run away to your holidays and expect everything to get done, it means that you can see the whole picture, rather than looking at the minute details and how something was done, rather see if it was done right at completion.
- Invest in training. The right team will want to continue to learn to be a great element of your business, so investing in training relevant to their current and potential future job role within the business can help to prove your belief in them, as well as encourage better work all round. With this investment, you will get back more profits, because your staff will be better at their job!
- Where can staff bring more to the table? This is something you can ask yourself whilst your team works on your day to day tasks. You may notice that one member of staff is excellent at speaking with clients, but hasn't had the opportunity to become a client manager - is this actually a better role for them? Perhaps a team member is great at using social media, and wants to help the business with a better image online? Notice your staff, and see their skills as potential ways your business can grow and become more profitable, as when an employee is good at something, they will want to work harder and better for you!
