Drive,Small,Business,Success,2 business, insurance 3 P's Drive Small Business Success in 2010
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What a year! For many, 2009 is a year they would like to forget.Between overleveraged mortgages, banks that failed or were too big tofail, and a restructuring of the auto industry, many individuals andbusinesses alike are ready to ring in 2010 with a more hopeful outlook.In the coming months, the healthcare debate, businessincentives and changes to the tax code will be at the forefront oflocal and national debates. Though important, these are issues in whichthe individual small business owner has minimal say. Instead offocusing on these larger issues, entrepreneurs should focus theirefforts on enhancing small business productivity, prudence, and profitas we move into 2010.ProductivityIn the last few years, many companies learned to do more withless as cuts in spending and employment left many small businessesdemanding more out of their employees. In 2010, small businessproductivity will remain vital as employees continue to carry a heavyworkload. For companies to succeed, they need to arm their employeeswith the right small business productivity tools.By identifying and implementing the right small businesssolutions, entrepreneurs can get more out of their employees and savemoney. Increased productivity among full-time employees can result inmore sales, the development of better products and services, fastercompletion of tasks, and improved customer service.Regardless of the industry, many companies will turn to smallbusiness communication solutions that can improve productivity. Forexample, a doctor's office may select an Interactive Voice Responsesystem (IVR) to more efficiently handle and direct calls during andafter business hours. Companies with hourly employees, like fieldservice repair companies, may use location-based services to trackfield technicians and redirect them based on cost drivers like fuelconsumption. Or, many companies may look to deploy BlackBerrys to theirstaff to help them stay connected anytime, anywhere helping fuel bettersmall business productivity. Finding small business solutions thatimprove productivity will greatly impact a bottom line. PrudenceWhile the economic freefall has halted and the economy even had somebright spots in 2009, most companies are not popping celebratorychampagne. And as much as we'd all like to see 2010 herald a recoveryof small business productivity, many economists and so-called"financial experts" are predicting only a slightly stronger economy in2010. Next year, prudence will be the name of the game when it comes tosmall business solutions.With a sharp eye on spending, small businesses will need to beprudent in their decision making and ensure they are making the rightinvestments. Finding employees that have the right skill set, investingin developing or marketing your best product, and selecting smallbusiness solutions that will help your company grow will all demandprudence.But this careful decision making will not only focus onspending, but on all aspects of small business productivity. Manycompanies may reexamine their niche market or how they "have alwaysdone things" to find new and better small business solutions. Just asThomas Jefferson once wrote, "...a little rebellion now and then is agood thing," a shake-up of how your small business operates may be inorder.ProfitOne consequence of the downturn is that many companiesunfortunately closed their doors. As a result, those who survived therecession now have fewer competitors vying for customers. As theeconomy stabilizes, banks begin to loan more money and businesses aremore comfortable with spending money, the small businesses thatpositioned themselves correctly will have a stronger opportunity formarket penetration than they've likely seen in recent years. By makingprudent decisions and focusing on driving small business productivity,companies will be well-positioned to profit in 2010 and beyond.If the past 12 months have taught us anything, it's that noamount of economic forecasting is completely precise. But, let's alllook forward to 2010 with a focus on small business productivity,prudence, and profit, as well as the promise of what a new year willbring to small businesses.This story first appeared in Corp! magazine Dec. 3, 2009. Article Tags: Small Business Productivity, Small Business Solutions, Small Business, Business Productivity, Many Companies, Small Businesses, Business Solutions
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