18 Sep 10 Tips for Creating Stability While Growing Your Business

By: Smallbizla

There are many suggestions for ways to solidify, stabilize and grow a new business; choose and integrate ideas helpful in moving your company forward starting from where you are today!

1. REGULATION AND COMPLIANCE: Join organizations, attend seminars, learn and know areas in which your organization has compliance requirements. As you hire employees, do you have required posters, new hire forms, pamphlets, policies and/or an Employee Handbook? A few resources for Human Resource compliance are: SBEAC (San Gabriel Employer Advisory Committee), California Chamber of Commerce, SHRM (Society for Human Resource Management), PIHRA (Professionals in Human Resource Management), NHRA (National Human Resource Association) and many, many more). BLR.com (Business and Legal Resources) provides free tools and resources in addition to those members can access through paid subscriptions. Does your company use chemicals as part of the process in developing new product? What are the OSHA (Occupational Safety and Health Administration) requirements related to your industry? Is your organization required to have an IIPP (Injury and Illness Prevention Program) or a Wellness Program? Identify regulations specific to your industry and establish compliance processes along with educational tools necessary to maintain current knowledge with on-going compliance.Stay current through professional subscriptions and memberships, attendance at conferences and/or formal classes.

2. ORGANIZATIONAL OPERATIONS: Establishing common goals and strategic plans in order to achieve those objectives by working with all members of the management team to define departmental responsibilities, procedures, budgets, and logistics for each specific area with timelines, checks and balances for assessment, realignment and/or restructuring as necessary. Operations professionals move the organization forward by developing a plan, monitoring results from each department for efficiency, wise use of available resources, timeliness and revision, if needed while coordinating time sensitive deadlines between all departments.

3. HIRE THE RIGHT PEOPLE FOR THE RIGHT POSITION: Having the right person in the right position is the most valuable asset of an organization. When scheduling candidates for interviews, select applicant’s with demonstrated competencies aligning with required responsibilities related to functions and account abilities of the open position. During the interview, provide opportunity for the candidate to tell you about their experience, training, motivating factors that lead them to apply for this position, their willingness to learn and develop stronger or different skill-sets as the business grows.

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