Good Business Habits

Good habits makes for a healthy and balanced life; it’s worth introducing steps into your day to day routine which can help to keep you organised, motivated and ahead of the game.

We’ve got the best business habits to implement today for a productive workplace!

Plan your week:

You might not be a list maker, but being in the habit of planning out your week ahead can make all the difference to your organisation and productivity. Get a hold of a weekly planner and give yourself the opportunity to visualise what your week will look like. This helps to schedule your time most effectively. From meetings and appointments to invoicing to allowing yourself some downtime, everything should be there to ensure you have made time for all your priorities.

Review your week:

At the end of each week, it helps to look back on what worked and what didn’t. You might have found that, with so many meetings, you missed out on all of your paperwork. Perhaps you found that the early starts work better for you than finishing late. Reviewing how your week went can help you know which things to try differently next week.

Stay on top of your incomings and outgoings:

While money can be the bane of their existence for a lot of entrepreneurs, it doesn’t help to ignore it! It might be incredibly stressful and, perhaps you’d rather stick your head in the sand rather than look at your books, but being aware of your weekly and monthly incomings and outgoings will always be the better option.

By reviewing the money coming in and out, you can developing financial strategies to help your business flourish. Perhaps you’ll come to notice an area where you can cut back on spending, or a part of your business that has been neglected.

When you are aware of where your money is coming from and where it is going, you will be in a better position to experiment and try new things that might benefit your business even more!

Trust yourself and listen to your gut:

While good business might sound like a lot of strategising, market research and graphs, there remains one thing that almost every successful entrepreneur has in common: they trust their own gut. Many of the best business success stories come from their founders trusting their instinct despite what others were telling them. If you believe an idea can become something remarkable, then you have the most important thing: belief.

Learn to be adaptable:

Entrepreneurs should be nimble, quick thinking and comfortable with change. Every business should be able to morph, change and, ultimately, grow through the art of adapting.

Your business is much more likely to become, and remain, successful if you learn the ability to recognise a gap in the market and fill that need. A business model that was successful 20 years ago might not be so effective today. Only those who are capable of accepting and embracing change will continue to grow.

Fail fast and remain resilient:

You don’t need to spend time and money on something that isn’t guaranteed success; it’s important to accept that failings are a normal part of the business process. The trick is to do so quickly and don’t get hung up on making an idea work that simply doesn’t want to.

An effective habit to get into is trying something while it’s in the idea stage instead of putting time, effort and money into the planning, development and implementation of an idea only to find out that it doesn’t catch on.

One easy way to do this is to pitch an idea to your social media following. An example of this might be that you’re considering hiring an extra person in your hair salon so that you can extend your hours. Before you go through the advertising, interview and training stages of hiring another hairdresser, why not jump on to Facebook and simply ask them “Would you book appointments later, if our opening hours allowed it?” Sit back and gauge the response from those who are ultimately going to make or break your idea: your clients! If they are all for it, you know it’s worthwhile putting in the time and money. If not, then you just saved yourself a lot of hassle!

Engage with customers:

Your customers are the most important part of your business; without them, your business only exists on paper. So it’s absolutely vital that you engage with them. Talk to them, ask questions, let them know that you listen and care. Developing a relationship with them will only deepen their loyalty and help your business grow.

Furthermore, by always being in touch with your customer-base, you can identify areas in the market that haven’t been filled. This brings us straight back to the importance of being adaptable and moving with the market!

Keep in touch with your team:

As a business owner you will know that a happy team is a productive team. It’s important to always take the time to pay each individual employee attention. When you know what makes them tick and what makes them happy (both personally and professionally), you are investing in a team member that works because they want to which is always more beneficial to the company as a whole.

In this sense, it’s not just about listening to their concerns, but also understanding and acknowledging how they prefer to be rewarded. You might discover that while one employee reacts well to a monetary bonus after a good month, another is driven less by money and more by praise. Maybe one employee will work harder next month after you reward them with a gift that they’ve been eyeing for months while another becomes even more productive after you give them a higher job title.

Business Audit:

Checking in every 3, 6 and 12 months once you’ve started in an important step which allow you to reflect on what’s worked, what hasn’t and what experience you’ve gained. It gives you the opportunity to determine which financial or staffing decisions have been successful or to take appropriate steps to adjust or tweak areas of concern.

Now discover how to simplify your business and keep up your motivation in the start-up stage!

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