We’ve all heard businesses being compared to well-oiled machines, which alludes to the idea that great and happy businesses exist because of their underlying culture. However, how you deal with external challenges is what creates that internal harmony in business. You need to reduce risks from every world to excel in all of them.
The employee world
Let’s start by looking at those who make the business possible—your people. A kind word and an amicable attitude is not enough to ensure your employees are safe and happy in their environment. You need to think about their physical requirements, too. Not just pay and benefits, but their daily experience. For instance, is your workplace as safe and as considerate to their health as it could be? Does it offer them the space and flexibility they need to be motivated? Are you contributing to their skills and training while developing them to create more value in their own lives? If not, then you are not offering them the value they deserve, and in turn, they won’t give you the work you deserve.
The economic world
Your business might mean more to you than just money, but that doesn’t mean money isn’t important. Profits keep people fed and your business running, which means you need to structure a proper approach to money. This includes following a few simple rules. For example, don’t incur debt without a good growth reason. Don’t hire until you’re entirely sure you have the funds to cover the new salaries. Don’t depend on one source of revenue.
The digital world
For most businesses, the internet has become the new frontier. It offers new ways to communicate, new services to add greater value and a wealth of helpful information. However, if you’re not careful, it also offers new threats that can erode or even destroy your business—loss of personal, corporate and even customer data. Losing customer data isn’t only disastrous for revenue, it also makes you legally liable. So, if you’re going online with your business, make sure you’re spending the right amount of time and resources on online security.
The client world
No business can survive without the support of clients. Offering great services and great marketing is only a beginning after which you need to build strong connections with people outside the boundaries of your business. A brand that is as much about people as it is about you involves more than just making money. Today’s successful brands are involved in a social cause or in supporting the community. Corporate social responsibility has become increasingly important because we know people vote with their wallet when they believe a business shares their values.
Dealing with these external risks allows the virtues of good business to become clear. You’ll be safer. You’ll be more efficient. You’ll be more effective. And, you’ll be happier.
For more on creating humane, healthy, happy businesses, click here.