Summary: In today’s episode, Alex Sanfilippo from PodMatch and Stephen Halasnik from Financing Solutions discuss the importance of non-scale and scale activities in the world of business. These solutions tell how businesses can grow financially and intellectually.
Keeping in Touch with Customers
A common issue that companies have when scaling up their business is that they begin to neglect non-scalable activities and lose their connection with their customers. This loss in connection usually stems from the business being too focused on building systems and structures that grow the business instead of focusing on the people that are using the product or service. This can result in the company abandoning its original mission and not satisfying its customer’s needs. To keep in touch with customers, businesses should value all their customers equally. As the company grows, it is important to establish roles or departments designed to stay in touch with customers. Businesses can obtain valuable information from communicating with customers who are satisfied, dissatisfied, or unfamiliar with their product or service. A business can establish a trusting relationship with its customers by listening to their specific needs or struggles. Customers that feel heard and valued by a business are more likely to rely on the business to satisfy their needs in the future.
Keeping in Touch with Employees
Employees can give business owners valuable insights into how the business is performing. Speaking with employees about customer satisfaction, business operations, and employee satisfaction are ways that business owners can better support those they employ and add value to the business. Openness in communication is important when receiving feedback from employees, therefore employers should make communication accessible and welcome it when the need for it arises. Business owners should note that some employees may be afraid to communicate dissatisfaction for fear of being negatively impacted. Businesses can encourage employee communication by allotting time to speak with employees about their perspectives on how they feel and how they feel the business is doing. Business owners should also be open with employees regarding business operations and performance.
Building Best Practices
For businesses to achieve their goals, processes and procedures must be put in place. These processes and procedures should be documented and easily accessible to everyone within the business. Best practices are built when processes and procedures are followed accurately and consistently. Best practices save businesses valuable time while onboarding new employees, taking on new clients/customers, and managing daily operations. While non-scalable activities are important, scalable business activities are just as important. The documentation of standard operating procedures plays a major role in growing a business and allows business owners to focus on big picture activities.
About Alex Sanfilippo from PodMatch
Alex Sanfilippo is a serial entrepreneur having also worked for 15 years as a senior executive for a publicly traded Aerospace company. Alex’s other businesses have included a Technology company that created virtual tours of properties, building a globally ranked Christian Multi-authored blog with 130 content writers, a Web design company, a national motivational speaker, and a business coach. Alex is also the host of the top-rated entrepreneurship podcast, Creating a Brand, and the founder of PodMatch.com, a free service that matches podcast guests and hosts together for interviews.
About Financing Solutions Small Business Line of Credit
Financing Solutions, an A+ and 5 stars rated BBB company since 2002, is a direct lender that provides lines of credit to small businesses and nonprofits.
Financing Solutions small business financing product is a great alternative to a traditional bank line of credit because it costs nothing to set up, nothing until used, and when used, is inexpensive. The credit line requires no collateral and no personal guarantees.
Small businesses use their line of credit to help with emergencies or opportunities when your small business’s cash flow is temporarily down (i.e. Payroll funding)
Please feel free to fill out the no-obligation, 2-minute business line of credit application here. The time to set up a credit line is when you don’t need it so that it is ready to be used, just in case.
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