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Top Three Needs of Small Business Owners

By Jeremy McLendon, JewelersHealthCare.com

Businesses of all sizes have different needs and pain points—some are more common than others. For small businesses, however, reaching a solution to these may not be so simple. In fact, due to limited resources, the list of needs may look a little different than those of a big corporation.

Additionally, the way these demands are tackled will undoubtedly require another route. So, what are a few of the most important needs for small business owners?

A Mission

Any successful organization has a guiding principle, motivation, and a mission. A mission statement gives business owners the opportunity to share their story, values, and goals for the company. Whether you prioritize sustainability, charity, or customer service, sharing this with your customers can help to create a sense of loyalty, appreciation, and understanding.

When you take all of those things and put them together to create a strong mission statement it will allow you to directly communicate with the audience you desire. When your team operates under a common understanding and goal, your organization can work seamlessly together to provide results that both you and your customers value.

Contingency Plans

When things are going great, we usually forget that sometimes life happens, and unexpected challenges arise. As a business owner, if you are not prepared for those moments, you could potentially lose everything you have worked for. However, you and your team can be prepared for any disaster through continuous planning and monitoring.

By keeping an up-to-date (and well communicated) contingency plan, you can avoid losses for your employees and your operations. Through monitoring and record keeping, you can start to track what your main risks are and what resources are the most crucial to your company. For example, it may not come as a surprise to note that one of the main reasons small businesses fail is due to poor cash management. Interestingly, this problem isn’t about a lack of profit, but incorrectly allocating funds. It is important to ensure that your finances are appropriately spent as it will help to create stability and direction for your company and your employees even when things get thrown off track.

By keeping a contingency plan in place, regularly reviewing it, and communicating this plan to your team, you can mitigate losses and help to ensure there is little to no disruption.

Recruiting and Retaining Employees: Creating Company Culture

Finding reliable and trustworthy employees is a huge factor in running a successful business. Many business owners know that the relationship between employer and employee works both ways. A large portion of what helps to ensure you are attracting and retaining the right employees is being able to offer a benefits package. Employees who feel their wellbeing is valued tend to be more reliable and happier.

Unfortunately, it can sometimes feel daunting when it comes to finding affordable coverage and benefits for yourself and your team. For most small businesses, an array of competitive and diverse plans is important, but it is also valuable to provide supplemental wellness initiatives for employees. Not only is this a nice addition to any plan, but it can also be beneficial in promoting physical and mental wellness for your whole team.

How We Help With Your Top Three

We know that the list of needs for your small business can be long and sometimes overwhelming, but we can help you tackle at least one of these three needs with complete healthcare coverage options for your whole team. Visit JewelersHealthCare.com today to learn more about how you can check this one off your list.