Owning and operating a successful business usually takes more than just the hard work and dedication of the business owner. Beside the vendors you rely on to provide stock for your establishment, you probably also use shipping companies, advertising agencies, and a variety of other invaluable services you rely on to ensure that your business is performing at its best. You can also never minimize the importance of the team of employees that work by your side, day in and day out. Those employees are most likely the face of your business, serving your customer needs on a daily basis and ultimately contributing to your success and wealth.

Because the employees you hire are on the front lines helping you navigate the day to day operations, they probably know your business better than you in many ways. That makes them invaluable sources of information and feed back on ways to increase your productivity. Actively seeking out their feedback, suggestions and ideas on ways you can improve your business can offer you fresh insights, new perspectives on your operation and critical information on places you could be earning more profits. Take a look at a these suggestions to foster a workplace environment where your employees comfortable enough to share their opinions and ideas with you.

Employer and Employee Relationship

Building a solid and trusting relationship with your employees will help to ensure that they are comfortable enough to approach you when they have an idea or they spot a problem in your operation. You foster that by presenting yourself as a fair and welcoming team leader. Having your employees best interest in mind and possessing the communication skills needed to have a healthy employer/employee relationship will leave the door open for growth in not only your business, but in the social dynamic and overall trust between you and your employees. Taking the time to really get to know the people who work for you will make it easy for them to come to you with feedback.

Incentivize Involvement

Besides having open and honest lines of communication open between you and your staff, part of being an effective leader is keeping your people motivated. After all, they are probably responsible for many of the accomplishments and milestones your business has reached, and you need that momentum to continue. Set up a weekly or monthly meeting to go over any progress or advancements your business has made. Make it a point to acknowledge and commend the hard work of individuals who have progressed the company mission or have performed above and beyond expectations. This is also an ideal time to open the floor for feedback and ideas moving forward. When your team realizes they are part of the bigger picture, they will more eager and willing to share their ideas with you. Most people like to be heard, so recognize them for their contribution. Offer a nice incentive program for those who make more sales, or land more accounts.

Room to Grow

Most people are looking for job security and advancement opportunities in their place of work, so if your business has the ability to provide that to your most motivated team members, you can prevent employee turnover, brain drain, lowered morale and added expense to your organization. Having room to grow in a business means you offer real opportunities to advance, not rely on using people up and then replacing them.

Introducing new programs or positions into your business can take money, but it is often times a necessity for continued growth. As a business owner, the first place you generally look for funding to hire is within your working capital budget. If you find that you do not have enough capital to bring on the new talent you need to reach your goals, then it may be time to take a look at how merchant funding could work for you. It could be the first simple step toward moving your business into the future.