The Basic Business Processes Every Company Needs
Everything that we see in the world is made up of some very basic building blocks. As a matter of fact, even are we. Our bodies are made up of millions of tiny atoms, that are the building blocks of the human form. Well, did you know that there are also some similar building blocks in businesses? These aren’t physical, though, and most of them come in the form of processes.
Processes are essential to all companies as they allow us to complete tasks and get things done. Without them, most businesses would very quickly fall apart. So, as you can see, it’s important that you ensure they are all present in any new startup that you set up. Here are some of the most basic and important processes that every company needs.
Once you hire your first member of staff, you need to set up a payroll process. Otherwise, there is no way that they will be able to be paid. If you have never had to set up this kind of thing before, there are now quite a few different payroll processing services that can help you get started. Once you hire an HR team, they will be able to take over this process for you, and that’s one less task off your to-do list. Make sure you hire some HR employees who have plenty of payroll experience as this is one system that you can’t do without!
Even though you might have already fully developed a set of products for your company, but you still need to continue with a product development process. That is even the case if you are not planning on launching a new product anytime soon. However, the benefit of having ideas that are continually in development keeps your creative juices flowing, and your next app launch won’t be such a drag. You can quickly move ideas along the process and will be able to have a new product in no time at all.
You also need to keep accounting processes on the go as well. This ensures that you are always billing your clients in plenty of time and that you are chasing up invoices as soon as they are overdue. By following these processes in a timely manner, you will find that you can effectively prevent your company from developing any cash flow issues, which could have a disastrous effect on your overall financial situation.
Your company also needs to have an efficient process for managing customer support. If it weren’t for your customers, there is no way you’d be able to make any money, so it’s only fair that you look after them whenever they interact with your business. You need to ensure that all complaints are dealt with professionally and straight away. Otherwise, they could blow up and damage your company’s public reputation.
Once all of these systems are in place, you will find that your startup runs like clockwork. Are there any other processes you find useful in business?
This is a collaborative post.