How do you know if what you’re doing is working? Aside from the obvious increase in revenue and profits, what else can be a measure of whether your policies, processes and overall operational structure are working?
What issues does your team raise? Are they having challenges with technology? Are they struggling to keep up with the workload? Are they having difficulty with a particular client or customer?
Are your policies and procedures being followed? Do your team members follow the established policies and procedures? How do you know?
Do you have too many rules? Is your company saddled with so many rules, policies and procedures that little room is left for creativity and unconventional ideas to be considered?
What do your employees say when they leave the company? No one is more honest than an employee transitioning to a new role/position outside of your company. Listen to them. Consider their viewpoint. Where it makes sense, use that information to make changes.
How well are you adapting to changes in your industry? You operate a small business, but are you agile? Are you able to react to and evaluate hints of changes in your industry and take advantage of the perks of being an early adopter?
No single measure is singularly definitive of your success or effectiveness, but collectively (along with the objective financial data), they provide a view into how well you are operating your business.
Here’s to more business birthdays!