3 Systems That Can Help Your Business to Thrive

Click here to get this post in PDF

The debate surrounding what the best approach is to ensuring success in business is epic and ongoing, with many different camps coming up with different conclusions.

From time to time business culture changes quite dramatically according to the prominent concepts of the day. Many of the giant companies of the past were built along extremely regimented and hierarchical lines, following an almost military structure. Today, many of the Silicon Valley tech giants who rule cyberspace operate according to the idea that the more freedom staff have, the more creative, productive, and loyal they’re likely to be.

Hence the famous open offices and ball pits of Google.

One idea that’s been growing in prominence recently, thanks in no small part to its endorsement by the creator of the Dilbert comics, Scott Adams, is that systems, rather than goals, are the key to success and a fruitful life, in general.

Here are a few examples of systems that can help your business to thrive.

Risk-reducing strategies

Workplaces always come with certain inherent risks that have to be managed. Some workplaces — such as kitchens and warehouses — are clearly more dangerous than others. No one’s likely to argue that the standard white-collar office is especially menacing, but even these can include slippery floors and other hazards.

As workplace accidents and disasters are often the result of various risk factors building up and culminating in something bad, risk-reducing strategies that effectively neutralise these risks at an early stage, can be a very powerful way of improving workplace safety.

A good WHS management system will address the risk factors present in multiple dimensions of your business, and take active steps to reduce them.

Budgeting and financial tracking systems

Every business that hopes to thrive has to be completely on top of its finances. This is hardly a secret, as money is integral to the existence and maintenance of any company.

Nonetheless, many small businesses and entrepreneurs are not as diligent in their financial tracking systems as they should be, opting instead to leave things half-examined and only dedicate a proper amount of attention to the books when it’s time to deal with annual tax.

Financial management systems, such as those offered by services such as Quickbooks, allow you to keep your books balanced on the go, and always have a clear overview of just what’s going on with your business financially.

Systems for routine learning and ongoing education regarding the industry

Every business depends to a large extent on its knowledge of the industry, in order to stay competitive, insightful, and adapt to changing client demand.

The thing is, of course, that the industry is not a fixed quantity — it’s something which is ever-changing, and as a result, you need to have a system for staying in touch with the latest developments with the industry if you want to remain competitive.

This could include something as straightforward as reading the latest trade papers in your office each morning before starting work, or it could mean having a certain structure in place for taking regular training and refresher courses as needed.

Whatever the specifics, an ongoing “education” system of sorts if key here.

You may also like: Are You Putting Your Small Business At Risk?