Art Creative Ltd

Five key business areas to focus on for success

Martin Castilla            No comments            Nov, 29

A business is only as good as the sum of its parts. In other words, when one department fails to thrive, this has a huge knock-on effect across the rest of the organisation. This is hardly news, yet many businesses are so busy chasing new customers at the expense of keeping their employees happy, or spending a fortune on R&D while they neglect their financial planning and reporting, that they are totally caught by surprise when something goes badly wrong.

The answer is, of course, to ensure that your finger stays firmly on the pulse of every single department, however this is a pretty big task. The only way you have a chance of succeeding in it is by having a good idea of what each department does for the wider company, and what you need to focus on in each case to keep the wheels turning.

Management

Whether you are leading a small team of just a handful of people, or manage an entire department, division or even company, getting the management right is key. They say change starts at the top, so it is vital for you and your team of managers to show that you are focusing on the right priorities and taking the business in a desirable and carefully thought-out direction. Take plenty of time to focus on strategy and business development. If you feel that there is a lack of understanding or knowledge in terms of how to manage successfully, invest in some training or business coaching to put things right.

Finances

Finances are another key area, as having enough money makes all the difference between successful growth and panicked economising. Investing properly in accounting and bookkeeping people and resources is a major factor in ensuring financial success. Don’t overlook key accounting tools and technology. Bookkeeping software and related tools, such as Receipt Bank, allow you to scan and store receipts and retrieve key evidence of corporate spending and employee expenses. Being able to lay your hands on the right financial data when you need it is vital, not only for the ongoing running of company operations, but also for payroll operations, expenses management and tax compliance.

Sales and marketing

A sales department is considered by many to be the backbone of any business. After all, it’s no good creating wonderful products and services if no-one ids capable of telling the world all about them. To ensure that your sales team thrives, focus on training and incentivising your people so that they can perform at their very best. If you feel that your sales figures need a boost, look into recruiting more salespeople to increase your team and widen potential customer reach. A reputable sales recruitment agency will be able to help you secure really strong sales talent to keep your customers coming back again and again for more.

Production

Just as your sales team should never be content to stand still, so your production, or research and development function should always be looking ahead to the next idea, design change or product or service evolution. Stay aware of what the competition is doing by networking, attending industry events, such as exhibitions and conferences and reading up on the latest industry news. Always give your production team enough space to be able to come up with new innovations – don’t leave them so stretched fulfilling current demand that they cannot think beyond their daily to-do list. Trust in the experts you hired to come up with ways to ensure that your business stays relevant into the future.

Administration

Finally, the administration function of any business covers a huge remit, from filing, invoicing and purchasing to human resources, business development and legal compliance. Never take your administrative employees for granted and make sure that they are properly trained, decently remunerated and fully supported. Invest in the most efficient IT and logistics equipment and software to free up time spent on more routine tasks. Keep your administrators in the picture about your business goals and objectives and how they are part of the overall success of the organisation.

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