Being in business means that big things happen a lot of the time. There are highs and lows, and they never come in small doses; some can change the route that your company is taking forever, whether this be for better or worse. Taking control of them is easier with a workforce team with specific roles to follow to ease the strain on you as the leader, but there are still things which slip through the net – and often aren’t caught until it’s too late to do anything about them.
If there isn’t anybody who has been designated with the task of looking after the safety aspects of your business, you need to appoint one immediately. Things like fire alarm system maintenance, electrical maintenance, flood checking and workplace hazards need routinely checking at least once a year. If you can’t remember the last time that any of them got done, you need to book in to get them all tested immediately. It’s not something that takes a lot of time, nor does it require any work from you; bringing in the professionals to test all of the equipment around the workplace for you will save you a lot of effort. Making sure that they are all done doesn’t just cover your back should anything go awry, but for the majority of people it is part of your business insurance contract for you to have it all covered. Any slip, even if nothing has happened relating to what has or hasn’t been done, could invalidate your policy.
And on the wave of insurance, how up to date are you with the knowledge of what’s covered within your business’ insurance policy and what’s not? For the smaller business owners, are you getting the best deal? Too many bosses are leaving their insurance documents to renew, often commanding a higher price than the year before that they were paying, just out of sheer convenience. However, it doesn’t have to inconvenience you – making a note of when the policies go out of date as you go along and leaving them in the trusted hands of another member of your team to bring the prices down could see you saving a huge chunk of money each year.
Keeping your staff up to date with training could mean the difference between getting the job done correctly and in an effective manner or running along a downward spiral of not knowing enough about the task in hand to care about the outcome. Investing in your staff should be encouraged; it offers a caring system and will empower them to make their own decisions regarding what needs to be done, leading you well on your way to making a passive income. The more that can be passed over to those in your employment, the more you can concentrate on the things that matter and the revenue-generating jobs that you need to aim for as a business owner. Keep training manuals so you can keep a record of their progress.