What Core Elements You Should Be Utilizing for an Optimally Run Business

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If you’re a business owner, you have a lot of things on your mind. From vendor management, to supply chain staffing, to finding the best software developers, and cybersecurity techniques, there can be what seems like an often overwhelming checklist to oversee and make sure gets done. How do you make sure you’re hiring the right kind of people who will be an asset to your company? How do you put good vendor management systems in place to streamline supplies and negotiations? How do you keep your company safe, both in a physical location and online? It can seem daunting, but if you prioritize, do your research, and take the time to consult other professionals who excel at those fields, you can easily come up with a good working plan that will help your business become even more successful. So let’s talk about how you can get your plans off the ground today.
How Can I Find the Right People for My Business?
Certainly, a shortage of skilled candidates is a problem. Over 70% of respondents to a survey in 2014 said they saw a lack of qualified and skilled candidates in their sectors. Executive searches are becoming more and more frequent, in part because of the competition, and in part because the mentality these days is to not stick with one business for a lifetime, but rather, to seek out the best opportunities available. Many top executives can often be lured away from their current position with the promise of more money, better benefits, more control over a certain area, etc.
Luckily, search firms are here to help. In 2013, almost 6% of external hires were done by search firms, say companies. That’s double what the percentage was in 2012 and the highest number in over a decade. Search firms vet a potential applicant for you and can take care of much of the paperwork and interview process — making it easier for you to find skilled candidates without putting an extensive amount of time into it. Referrals and social media are other excellent ways to find passionate candidates for your business.
What About Keeping My Business Safe and Current?
Software developers can be huge assets when it comes to displaying your business, making sure all systems are up to date and running well, and keeping your business at the forefront of constantly changing technology, digital programs, and updates. Hiring cybersecurity experts is also a great idea, especially if you handle particularly sensitive information or have a high volume of online traffic. Hacking and other security breaches are becoming more prevalent and every business needs to be keeping a sharp eye out for how best to keep sensitive information secure.
On a more physical level, get alarm systems and security cameras. Businesses that don’t have an alarm system are four and a half times more likely to be the victims of theft than businesses that have electronic security already set up. Budgets for electronic security products and services is growing by over 4% annually.
What About Vendor Management?
Building on vendor relations is a key part of running a successful business. Practicing good vendor management will let you establish a relationship with your suppliers and service providers that is mutually beneficial. You may receive a lower price on many of your items with successful vendor relations, but that’s not the only goal here. Finding agreements that work for both parties helps build a successful relationship.
Open communication is key. Both parties should talk about priorities and share information. Try to walk that fine line between being committed to certain vendors and also looking at competition. You want to be building long-term relationships here — and the stronger your relationship, the better chance you have of reaching an agreement that both of you can work with.
There are so many tools available for business owners to help grow a successful and safe business. Take advantage of the skill set and knowledge of other professionals in areas that you might be not as comfortable with (IT, telecommunications, software development, etc.,) and let them help you!

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