The Advanced Funds Network (AFN) has become synonymous with unsecured financing options like the merchant cash advance. While lending is an essential part of what our company does, we also understand that good business practices extend beyond the financial realm. To succeed in business, all of these practices need to be addressed.
This article will outline the tips you need to know to put good business into practice.
The Professional Theory of Everything
To stay ahead in business, you have to rely on discovery. This reliance can be applied to trends and investments, but it also needs to be applied to the business itself.
Organizational development requires a little bit of everything, including:
It helps you maintain relationships and, when practiced correctly, you can achieve objectives while capitalizing on leadership, talent, and innovation.
Planning: Organizational Development in Action
The difficulty in this process is that many businesses forget to take stock of where they are, before running ahead looking for deliverables. Evaluation of where your company is, where it’s going, and how to get it there has to be your first step.
Throw the fly-by-night strategy out the window, put pen to paper, and actually develop an implementation plan that gets your company from point A to point B.
According to the Harvard Business Review, taking the time to examine your company’s target market, functional competencies, and future capabilities will pay off in productivity levels. By focusing on operations more than investments, you get more out of the company as a whole. That translates into a productivity increase that can be two times the industry average, once your plan is implemented. Given time, this increase will develop into steady growth that out-performs the competition.
When you’ve fostered productivity and growth, how do you maintain it? You create a performance-driven culture inside your company structure. From the top of the chain of command to the managers and on down, everyone is goal-oriented. If everyone is goal-oriented, goals get achieved. As each goal is achieved, you can raise the performance bar to insure that you keep a competitive edge.
The end result is greater employee retention, an industry leading performance, and a structure that is flexible, efficient, and easy to track. No one walks away overburdened, confused, or under-utilized. Success is shared along with the responsibility that is required to achieve it.
That’s the Ideal; Now, Let’s Get Real
As great as this advice is, can anyone see the missing piece? You need resources to put this plan into action. Small business owners don’t often have the luxury of investors. Rather than walk away from the table empty handed, get the funding you need to test out your own model of success.