It’s no longer just you.  The one (wo)man show has fulfilled its remit and you’re starting to see the rewards of all those long hours, cash strapped months and time away from family and loved ones.  

But as your business grows and changes, it may be a good time to check in with your foundational values and make sure that everything is above board and copacetic. A good place to start is making sure that your business is compliant.  You don’t want to get caught unawares and ignorance of the law is not a defence. 

#1 – LEGAL SUPPORT

So where do you start and more importantly what are you looking for?  

As your business grows, so does your potential exposure.  Especially when you consider that we are well and truly living in the days of litigation and there is just no possible way that you can monitor every angle of your business’s potential liability.  They’re not cheap, but unintentionally falling foul of the law, is way more expensive.

#2 – FINANCIAL MANAGEMENT

This is over and above your day to day financial management.  Whether on-site or outsourced, a good accountant can help you project and manage cash flows, prepare reports for lines of credit applications and fight on your behalf with the taxman.  It should go without saying, but if the road to hell is paved with good intentions, the road to bankruptcy court is paved with “should have gone without sayings”.  Therefore, it’s always a good idea to retain a top-rated accountant and if you can’t afford one on-site, then outsourcing is for you.

#3 – HUMAN RESOURCES

Far from just being the department that manages your employees’ payroll and personal data, in today’s fast-changing world an excellent Human Resources Officer is an absolute must-have.  As your business grows and your workforce diversifies, there is a seemingly daily change to employee rights, quality awareness and policies, diversification policies, affirmative action, contracts…the list goes on and there’s no need to do it all yourself, click on https://syndeohro.com/human-resources/.

#4 – BUSINESS PLANNING

You started your business with a “business plan” (at least we hope so), but did you know that your business plan can become a living “bible” of your business?  Add to it regularly, and refer back to it to check on past policies, plans or procedures and then update them as your business grows and changes.  Download free templates here.

#5 – CUSTOMER/CLIENT RETENTION

One of the buzzwords that have seen a rapid increase in its use of late and with very good reason.  As economies become increasingly sophisticated and competition peaks across just about all markets, having a team on board to help you put right what’s gone wrong is critical.  It’s becoming easier for clients to back out of the tightest of contracts for lack of service delivery reasons, to say the least, and a retention officer backed by a solid incentive program can help mitigate when things don’t go according to plan.

Based on your business model, some or all of these issues may need addressing now or at some point in the future and having a good plan to source help when you need it (preferably before) is part and parcel of your future success.