Hire and Rental News - May 2018

14 HIRE AND RENTAL NEWS • MAY 2018 INDUSTRY NEWS By Richard van der Merwe and David Hinchey Most business owners put in an incredible amount of effort towards growing their business. They take pride in meeting their goals and seeing their hard work paying off. Naturally this growth means new challenges arise and change to accommodate growth becomes inevitable. These are normal business ‘growing pains’. in FOCUS owever, a business may grow to a size where it’s just not practical (or even possible) for the owner to be across absolutely everything, let alone have time to consider strategic planning. Relying solely on the owner can become impractical and unpredictable, leaving the business vulnerable to oversights and missed opportunities. Professionalising your business is the key to successfully managing continued growth, while remaining competitive in the market. Growing pains and how to professionalise your business This means developing and integrating the systems, processes and structures of a competitive company, while at the same time maintaining the unique culture and values your own business was founded upon. The following steps can help you on the way to successfully professionalising your business. 1 Provide clarity and structure Develop a clearly defined set of policies and procedures that include: • Clear sales practices such as refunds and warranties; • Customer service; • Documenting management responsibilities; • Managing staff expectations, training and performance reviews; and • Use of company property. 2 Set an example Develop clearly defined policies, procedures and systems that take into consideration the following: • Always include an allocation of responsibilities; H M A K I N G I N E F F I C I E N C I E S E X T I N C T www.makinex.com.au Jack Hammer Trolley Hose 2 Go Dual PressureWasher Generators Ideal products to support the Hire Industry. Powered Hand Truck R