Best Practices: Do You Have Them In Your Business?
The term best practices are usually used to mean the best ways of running a business or providing a service recognised as correct or most effective. It also means the best ways of achieving your business objectives. Every company has its code of acceptable practice, and every organisation sets its quality standards. Even in your home, you may have best practices for quality results. Don’t you think so?
Sometimes, we learn best practices through benchmarking, whereby you get to learn from the experiences of others. For example, as you operate your business, you can compare it with other companies in the same marketplace/niche. It helps you to see what you can borrow from them to improve your own business. If you have never thought about applying quality standards to position yourself well, then it’s something you need to consider. Will you?
Five best practices to help you to succeed in business
In this article, I would like to share with you some of the five best practices that enable success-oriented business owners to make a few achievements in their businesses.
1. Working with a plan.
Planning is one of the most essential best practices. Before you start a business, you should make sure you have a business plan. A simple business plan based on research guides you well. After some time, you need to review it and integrate into it new ideas.
A business vision, mission and values are equally crucial for you to have them. A marketing plan should not be left out. It enables you to remain focused and not to spend your hard-earned financial resources blindly.
Every year, you need to draw up a communication calendar to guide you mainly on what to do and when to do it. Google calendar can be of great use to you not only in achieving your marketing objectives but also in being organised in your business. You should set it in a way that it’s connected to, say, your phone or email address to receive reminders from time to time.
2. Keeping records and track of your business performance
Maintaining records is one of the best practices proven to be useful in monitoring your business. You need to keep a record of your business transactions, stock, customers’ details, website visitors and much more. Every day you should monitor the performance of your business. It helps you to find out what works, what doesn’t work, and what needs improvement.
3. Investing in acquiring new knowledge, skills and new ways of dealing with challenges
Reading to get new knowledge and skills helps to achieve a lot in your business life. From time to time, read useful books, magazines and newspapers to get new ways of doing business. Watch TV and listen to the radio effective programs that give you good business ideas. Reading to acquire knowledge and skills and apply them in your business life is one of the best practices you should always consider necessary.
It’s always good to learn new things and new ways of doing things. Additionally, it’s good to listen to people with an open mind of looking for business opportunities and useful information. Use the information you get to grow your business. Let me illustrate this further with examples.
Personally, when I go to watch football, attend a wedding, listen to any motivational talk, I pay attention to how people express themselves and make their presentations. In life, I have come across many intelligent and humorous people whose styles of talking and expression have contributed a lot to my writing skill. I also look for examples that I integrate into the articles I write and post on my blogs.
In another related example, one day, I started a thread in one of the online marketing forums intending to receive comments from forum members on my website. I almost got so disappointed with the comments I received on the website design initially perceived as being horrible. But this created an opportunity for me to receive visitors on my website originating from that thread.
By sharing information with others and reading about other people’s challenges, it helps to look for opportunities to grow your business. Each challenge and each problem has both a positive side and a negative side.
4. Looking for successful people with whom to establish a relationship
Always endeavour to create a working and trusting relationship with people you find to add value to your business. Use all possible channels of communication. Establishing trusting relationships with successful people is one of the best practices that can lead you to success.
5. Work with your family
One of the reasons people chose to operate a home business is the desire to teach a spirit of entrepreneurship in their family members. It’s good to work with them in your business enterprise. They help you to transact business. They help to communicate with your customers. For instance, when I write my articles, I share them with my family members first before I post them on my blog. Helping your family members to acquire entrepreneurial skills by working with them is one of my best practices.
Finally, if you have found this article useful, I would feel great if you shared with us some of the best practices in your home business. What are they?
Hello! My name is Charles Kiyimba, a creative engraver, a professional teacher, a passionate blogger, a confident graphic/web designer and the founder of Goleza Designers Ltd, an engraving business that turns images into real products. Through my hands-on experience, I share with you free helpful information on our products and services, business, marketing and personal development. Always dive in for more!