When you’re running a business, you are always going to have a lot on your plate. You’re going to have plenty of requirements and responsibilities every day that you enter the office. It’s going to be your job to make sure that you always steer the ship in the right direction and stay on the course for success. While this might sound like a cliche, it’s true. You have to be the one who controls everything. While you can delegate, you need to have your eye on all the different areas of your business. Even a small company will typically involve a variety of sectors and moving parts. Unfortunately, this tends to mean that some parts of your business will always be ignored, forgotten or simply passed over. That includes, HR, IT, Logistics, Health and Safety, Legal and Accounting. These are some of the areas that you are most likely to pass off without really understanding their significance.
Be careful though because failures here could doom your business model on the market. That’s why we need to look at each one in turn, what they are, why they’re important and what you need to understand about them.
Human resources are essentially a legal backup for your business. They make sure that you’re not crossing any boundaries when running your company that could leave you in hot water. This is usually going to link back to employees. For instance, when you’re hiring a new employee, you should always have HR on your side to make sure that you aren’t falling into any legal traps. For instance, you to adhere to fair hiring practices. An example of this would state or even just hinting that a candidate has been given the position before all employees have been interviewed. This could create a huge legal issue because it means that all candidates have not received the same chance of gaining the position. An HR team will make sure this doesn’t happen and will uncover any legal issues before you hire a worker that you shouldn’t.
Or, you might be interested in providing a particular employee with a promotion over other possible candidates. The employee you want to promote may not have the same level of experience as another candidate. However, the other candidate could have taken far more days off sick. Are you legally able to hire the desired candidate rather than someone who could arguably be more qualified for the position. HR will be able to advise you on this and help you avoid a legal dispute.
Aside from this, HR will provide a temperature check for your business environment. They will root out any issues that could be developing underneath the surface. Is there an issue with harassment in your company? If there is, a HR team should be able to pinpoint the cause and rectify the situation. They should also make sure that you don’t end up in hot water with an employee because you will have taken the necessary action. Do be aware that there is now automated software that HR teams can fall back on. With automated software, these checks can be completed in minutes on a regular schedule. You could send out a digital questionnaire every Friday to employees and the data provided could then be assessed for signs of issues that must be rectified.
Every business, or almost every business, now relies on IT. IT support is therefore going to be a crucial aspect of your business model. This is however a sector of your company that you might try and avoid like the plague. After all, very few business owners have a complete understanding of IT. This is probably why as late as 2017 over a quarter of businesses around the world were still using Windows XP. There’s probably quite a few companies today that are still this far behind the times.
So, what do you need to know about IT Support? Well, first, this sector of your business will be quite expensive. Particularly if you hire in-house. It will require a full team of working professionals monitoring and setting up your IT systems to make sure that they work effectively to suit business needs. This could include a full private cloud server for your company and potentially a local network throughout your office as well.
Today though, the main role of IT is probably going to be security. You need to make sure that you are keeping your business secure for customers, clients and investors. A trained team of IT staff can help you do this. They will regularly check your systems for signs of a hack and quickly fill in any holes in security that may impact your business model. Their role in your company will be as gatekeepers and that’s important, particularly when you consider that there’s a hack on a business every minute. As well as this, forty percent of those impacted are considered to be small companies.
You don’t have to understand all the ins and outs of the IT set up for your business. You should however make sure that you have a disaster recovery plan in place for your company. A disaster recovery means that if you are hacked or exposed due to an issue, then you will be back on your feet in no time at all. You can get back up and running after a hack in minutes rather than days if you have this type of plan in place. A full IT team can help you do this using backup servers and other tech tools.
How much time do you think about the order side of your company? It’s not uncommon for business owners to forget about orders once purchases have been made. Logistics is one of the most common areas of a business to outsource. These days if you order a service such as a networking solution from a company, there’s a good chance that the delivery of any equipment will be handled by an entirely separate company. This can cause issues with quality control as well as other problems such as slow deliveries. With logistics, it is important that costs are kept low. But you have to realize that this is also one of the most important areas of your business for clients and customers. It’s one of the parts that will impact them the most. They care about whether you can provide deliveries on time and offer a rapid turnaround. They will also want to know whether you provide a friendly delivery solution that caters to their needs.
For instance, customers want to be able to track a delivery and find out exactly when it’s going to arrive. They also want to be able to arrange delivery around their schedule. If they’re not in or not available they want to know that the delivery will still be handled the right way. You are your outsourcing solution should be providing these possibilities.
So, there’s a lot to consider here. But the first step is deciding whether or not you’re going to hire a team or use outsourcing. If you decide on the team-based approach, then you need a solid group of individuals at the forefront. They should be qualified and trained, potentially with a masters degree in logistics and supply chain management online. This will make sure that your supply chain is handled effectively and does not create issues with your customer or client base.
If you are outsourcing, then you need to guarantee that you use a company that can be trusted. The best way to ensure this is to ask around and find similar companies to yours that use this type of service. When you do this, you should be able to find an outsourcing solution with reviews that provide a strong basis for a business that you can rely on.
Health And Safety
You need to think in terms of health and safety as well. Health and safety issues can cause headaches in your business model that you must work to avoid. For instance, the average personal injury in an office can bring damages of up to five hundred thousand in damages. This is more than enough to cripple a small business.
The good news is that you won’t have to handle this area of the company yourself. Instead, this is simply a matter of hiring or indeed appointing an existing worker as a health and safety officer. With a healthy and safety officer, you will have an individual or a group of individuals who will check your business location regularly for signs of issues and problems. They will make sure that there are no problems in your office environment that could cause anything from a minor to severe injury.
We hope you see now why you can not ignore these sectors of your business model and the impact that doing so could have on your company. Ultimately, as the owner of a business it will be your job to make sure that sectors like this run like clockwork and that issues do not arise.