Ex-military veteran Paul Rowlett started his business EverythingBranded, from scratch. Now it’s a multi-million dollar group of companies under the EverythingGlobal banner with inroads into the American promotional goods market and sights on going truly global. The fruits of Paul’s hard work have taken him from staring homelessness in the face to success beyond his wildest dreams. Here he shares his advice to business owners on how to create a profitable, successful company with a charitable arm that does not sacrifice the happiness of customers and employees.
Take time each month to have a business reflection day
No need for fancy business jargon here, keep it simple. Use this day to reflect on specific areas of your business and hone in on what can be done to be more efficient. Efficiency drives not only the bottom line, but also improves the customer experience which in turn boosts retention. Rather than constantly working on growing the business, take time to reflect and look over aspects of it in isolation.
Maintain a positive outlook even when times are tough
Being the founder of a business means you should already understand the importance of a positive working environment. Even when you’re having a bad day try your best to protect your team, because if the boss shows too much negativity it will spread very quickly.
Pre-empt improvements in remuneration for your team
With the cost of living rising, it’s inevitable that the knock at the door for some people will be coming very soon (if not already). Therefore work hard to be supportive to your staff and in turn achieve a great retention rate. Ask this question: why does someone stay at a company? Well the results say it’s ‘pay, progression and culture’. While we all like to have a fun workplace or even flexible hours, the bottom line is that this does not pay someone’s bills so understand the power of good pay over free pizza on Friday.
Realise the power of a good corporate social responsibility (CSR) policy
This can help in more ways than you think. It is important that business has a social conscience and plays a role in the community. If you can help the less fortunate or aid causes that you support then you should. However beyond the good deed, you may find this helps your business too. Creating your own CSR policy with a dedicated budget, then handing over the reins to a team member gives them ownership of it, which can be very rewarding. If executed well, you can generate some great PR.
Stop micromanaging
How many business owners out there struggle to let go and delegate? If that’s you, then imagine you are looking to sell the business one day. And you deserve it no doubt. But then ask yourself who is going to buy the company if you’re hands-on with everything. That’s one reason, but if we go back to the fundamentals of why people stay in a company (pay, progression, culture) then you can see why colleagues need to be able to grow as individuals in order to progress. Your business is a perfect place to achieve that, so when the time is right give them a chance to shine. It will not only make your business more saleable, but also show your team that you trust and value them too.
