How to grow your business | IAT SmartDial® Solutions

How to grow your business

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Laugh; don’t take yourself so seriously; set good goals—I am full of advice. However, it’s sometimes nerve wracking to learn people might actually be listening to me. I was surprised when DBA International asked me to write an article for DBA the Magazine about business success. In case you didn’t read the article, “Technology Solutions Alone Won’t Help Grow Your Business,” or need a refresher, you’ll find some ideas below.

Identify your hiring needs: Clearly identify company needs and determine the skills that will help you reach those needs. Then relentlessly search for individuals with those skills.

Explain ALL your company’s benefits: Make your business more attractive to prospective employees by explaining your entire compensation package, including insurance options; vacation, sick and personal leave policies; company holidays; and any profit sharing or bonus plans.

“Fight” for your top performers: Let star employees know they are appreciated and make a positive contribution to the team—so they’ll stick around!

Conduct productive exit interviews: Learn from exiting employees’ feedback and attempt to correct any problems that were previously unknown to you.

Learn the facts straight from the regulators: It is important to know what regulators really intend to do—without all the media hype and speculation—so whenever possible get your information firsthand. If this is currently unrealistic, then turn to reliable industry sources and regulator’s official documentation.

Encourage your top collectors to inspire others: Identify your best collectors and then use those “heroes” to train your other collectors.

Choose your vendor partners carefully: When deciding on a new vendor partner, price is important, but more critical is finding a company sharing your ethics and values and whose products are closely aligned to your business.

Take responsibility for your own compliance plan: Vendors have compliance capable technology available, but it’s not compliance guaranteed. If you want to make sure you’re compliant, sit down with your attorney and make some decisions about your compliance level and strategies.

Prepare for the unthinkable: With proper planning you can minimize the damages from an emergency situation and speed up the recovery process. Write down potential problems and their possible solutions. Take action now.

If you haven’t read the article, find a copy of DBA the Magazine (the Spring Edition) and learn about these ideas in greater detail. Writing this article reminded me how important it is to surround yourself with GREAT coworkers. Thanks to those who helped me complete this project!

Running a business is an exciting and sometimes frightening adventure. However, with proper thought, planning, and implementation you can minimize the worry. And one last tip: Remember to smile!

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This article was written by Dave R

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