How Are Your Choices Affecting How Your Business Performs?

Running a business requires that you make a lot of decisions. In some cases, your decisions will have a positive impact on your company. In others, they will have a negative impact on your company. While you would prefer to be right 100 percent of the time, it is arguably more important to know how your choices impact the performance of your company. Knowing how your choices influence your business may help you make better ones in the future.

How Do You Choose to Manage Others?

As a business owner, you have the right to decide how you want to manage your people. However, your people also have the right to decide how they will respond. If you choose to micromanage workers, they may become hesitant to do anything for fear that you will criticize them or overrule their decisions anyway.

This could lead to a loss of morale and productivity, and that may lead to an increase in turnover. By giving your people the freedom to do their jobs, they will want to work harder to prove that you made the right choice in trusting their ability. They may also be more likely to provide input that could improve how the business operates.

How Do You Choose to Treat Customers?

It is important that you provide your customers with the best possible service at all times. If they are not treated right, they will most likely take their money to a competing business. They may also choose to tell their friends and other contacts to stay way from your company as well.

Even if you don't work at the store level or handle customer orders, you should be accessible to your patrons at all times. This may mean giving out your personal email address or phone number where customers can contact you directly if they have an issue. Knowing that the CEO is willing to stand behind his or her product or service makes it easier for people to trust a brand.

Is Community Service Important to You?

Corporations are supposed to be good citizens within the community. While the corporation itself is not a person, it should be made up of people who choose to do good for those who live there. As Dallin Larsen, CEO of Vasayo, says, "a life of significance is a byproduct of making the “best” choices."

This means that you should be making decisions that help the community as well as the bottom line. In some cases, this may mean holding food drives to feed the homeless on Thanksgiving or after a natural disaster strikes. It could also mean helping to fund a youth sports league or a program to keep troubled youth off of the streets after school.

Is Your Business Constantly Evolving?

While a company needs to have a core product or service that it offers, it should always be looking for new ways to service customers. If your company doesn't have a website where customers can order products or book a service appointment, it should add one today.

It should also take advantage of social media and other tools to better communicate with customers. When you receive feedback, you should then use it to provide better products or services. If you fail to respond to the needs of your customers as they change and evolve, they are likely to take their money elsewhere.

The choices that you make can directly or indirectly impact how your company performs. Hopefully, the above content has been helpful in making you recognize whether or not the decisions that you’re making are truly wise.