5 Must Have’s for All Businesses

Over the last week or so, I have been writing about the things all businesses owners should have or do to be successful in their business. Now, I’m going to do a recap so that you have all the information in one place. 

We started out talking about the need for a CRM. I believe the CRM should be the main line of business application for your business. It not only keeps track of sales and marketing tasks but, projects, client service workflows, vendors and more. As I mentioned before, there are a multitude of CRMs that will fit any type of business. At Your Remote COO, we work out of our CRM, Cloze, all the time. We use it to send emails, track phone calls and client projects and keeps us so much more organized. Make sure you’re utilizing your CRM to track your tasks as well as your connections with others who can help your business. 

In the 2nd post, I wrote about the need for a strong banking relationship. All businesses, no matter their size, need to have a bank relationship and a connection with their business banker. Having a checking account alone is no longer enough when starting or successfully running a business. You need a relationship with your banker, so you will be able to work through good financial times as well as stressful financial times. The relationship we have with our banker at Comerica Bank is one we have had for years and they have been there for us in good times as well as bad. You should have the same kind of relationship with your bank and banker, if you don’t already. 

The 3rd post was on the need for professional services. Your company may be a, “professional service” but we all need to rely on other professional services. When I refer to professional services I am talking about a lawyer, accountant/bookkeeper, IT professional and, of course, the need for an operational professional like Your Remote COO. These professional services can be the “make or break” difference in your business. Take the time to read the entire post to get a better grasp on the need for the different professional services. 

The 4th entry in this series was about staying organized as a busy business owner. While our first 3 posts might have been directed to anyone in your organization this post was for you, the business owner. In this post we talked about how business owners get dragged in multiple directions making them unable to focus on what they need to do to grow their business. This is one of many reasons that companies choose to hire Your Remote COO. However, if you aren’t ready to engage with an outsourced chief operations team to keep you on point, then this post if for you.  

We talked about utilizing your calendar to stay on point, delegate tasks to your staff, to beware of the email ding and to set realistic expectations. While these are only a few of the points I wrote about, there are many more that can be addressed and resolved by taking a step back and working a documented process. I have always said that starting a business is easy but running it successfully is very difficult. You can’t do it all alone, you should ask for help and stay organized. 

The last post in this series was about how you need to share information with your network. When I wrote about sharing information, I was not eluding to sharing trade secrets. I meant more along the lines of sharing news with your network through LinkedIn and email newsletters. When you post on LinkedIn, make the post relevant and interesting. Sending email newsletters is a great way to let your clients know that your business is growing and doing fun and interesting things. That newsletter may even get you some new business. Other times it’s just fun to pick up the phone and talk to your clients about their business. You never know what you may discover when you have a candid conversation. It’s important to stay in touch with clients, prospects, connections and even former clients. Share information on what your business is doing, what people are saying about your company and what you do to benefit them. You will be amazed what happens when you share with others. 

There you have it, the recap of the 5 Must Have’s for all Businesses. I think I may start working on 6 through 10 for next week because there are so many “must have’s” when it comes to running a business successfully.  

In the meantime, remember the adage, “the best way to eat an elephant is one bite at a time.” Take your time, focus on the business, know who your client is and make wise decisions. If you take just a few of these suggestions, your business will do just fine. 

All the best in success, 

Stu

Stuart Selbst is the Founder and Managing Partner of Your Remote COO. He is a business leader with a passion for helping others succeed. Throughout his career, he has worked to find more effective ways to organize processes while getting projects completed and keeping costs and budget in check. While mastering the skills of operational efficiency over the years, Stuart has been able to help hundreds of businesses around the globe grow consistently and profitably.