Small business come good? Don’t jet ahead

Small business come good? Don’t jet ahead

Being an entrepreneur takes a certain amount of bravado that’s lacking in most ordinary people.

Most people don’t place their cash in every business market like Richard Branson, in his roulette wheel-version of success. Even fewer enter unknown frontiers, like Mark Zuckerberg with Facebook, to reap huge rewards.

But such a cocksure attitude has its drawbacks. While the go-getters can sometimes race on into multimillion dollar success, their lack of mindfulness puts employees at risk.

With that in mind, we’ve come up with a few practical factors to consider in the operation of a workplace – keep them in mind before you race off on your latest venture.

Safety first

As you devise your latest business plans for an LED toaster or something, how safe do reckon your workplace is?

Is it in danger from fire, for instance? The answer is a big fat yes – and more danger than you think.

One uncontained fire could rage through your office like, well, wildfire. Your walls will be demolished like a knife through hot butter and all your hard work will quite literally blow up in smoke.

You need to build up your defences to the flames. Invest in a blast ceiling and fortified walls to contain flames for longer, as well as a few basics like fire extinguishers, alarms, sprinklers and blankets to quash any danger of the hot stuff.

Value profits AND employees

When your small business is suddenly riding high, it’s easy to surf the wave on your own, hanging five on a tsunami of cash. But it wasn’t only you that made your business a success – you staff has a large hand in it too.

And the more they feel they have a stake in your company, the more they’ll think their work is valued.

That doesn’t mean you’ve got to dole out more pay rises than Scrooge in a Christmas Carol sequel. All you really have to do is give the occasional reward.

Set up a team day out for everyone to enjoy, and pepper your employees’ week with tiny treats that will keep them satisfied.

The ideal workplace is fun, friendly and rewarding – so don’t leave your employees hanging.

Don’t overreach

So many small businesses have had a sniff of success and then pushed themselves too far, like a gambler losing it all on “one last bet”.

Indeed, sometimes you have to control your pie in the sky visions where fiscal concerns are at play. When you’re a small business, one wrong spin of the wheel could lead to insolvency.

With a devil-may-care attitude comes a risk to your staffs’ livelihoods. Before you leap into the great unknown, have a decent lay of the land. It’ll turn your risk from maverick to calculated.