As a business founder you have to do everything possible to limit liability for any problems that occur. Understandingly so, things such as building relationships, professional networking and training are priority for a business owner in the start-up phase of their business. This is encouraged! However, as a small business owner when you start to work with more clients and hire more people into your company how will you manage the risk.
Many business owners don't recognize how important the development of policies and procedures can be for a business. Having extensive policies and procedures in place before desperate situations appear can help with measuring both success and failure for a business owner. Research has shown that your business should have at least the following in writing before hiring any additional clients or employees aboard.
1. Use of Device Policies:
This can be a critical factor for small business owners and is often overlooked when it comes to the importance . When employees are brought aboard they are matters in which the business owner is responsible for their actions. To ensure illegal matters are not conducted on company equipment businesses are encouraged to have a clearly written policy in place for employees.
2. Work hours and Turnaround Time:
As a new business owner it is a great idea to ensure clients are aware of your working hours. Studies have shown that customers prefer to talk with a live representative within the company. Let this be a clear message to clients, in the developed policies and procedures, so that the expectations are established from the beginning. This will also answer the question for after hours and emergency support. The idea here is to set expectations upfront in order to avoid disappointment and dissatisfaction with clients.
Whether your business handles coaching services or mobile computer repair services, you should have a clearly defined policy regarding response time. Clients look forward to your product or service after purchase therefore, you should have a written policy in place that will outline expectations.
3. Return/Refund Policies:
Many business owners offer a quality guarantee or product can be returned with no fee to their clients. However, do you have it clearly outlined on your website or in written electronic form? Refunds are also a possibility for service oriented companies even though their is no product for sale. A client should know what to expect from the purchase of all products or services upfront - this will alleviate disappointment with new or existing clients.
The development of written policies and procedures is a great way to protect your business and establish a fair working environment for employees. Policies and procedures should be extensive as possible in order to provide additional assurance of protecting the overall business. It is never to late to get started.
You can schedule your consultation via the website of Fontenot & Associates Solutions LLC. Our goal is to protect you and your business from day one.
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"What you get by achieving your goals is not as important as what you become by achieving your goals." -Zig Ziglar
Hello, I'm Terra the Founder and Marketing Director of Fontenot & Associates Solutions. Thank you for joining my Accounting world. Our blog's purpose is to teach with the determination of closing industry and accounting process gaps that knowingly exist with our uniquely designed detailed procedures and trainings.
My mission is to offer the best accounting results for all companies seeking to close their process gaps with actual solutions. With my Bachelors and Masters Degree in Accounting, I strive for continuous development and professional growth in this profession. My professional career has been in the Oil & Gas industry for nearly the past 10 years but my business focus is to support and train accounting professionals in all industries.