Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Often times the key to running a successful business is being aware of the details. The following contributed post discusses this and is entitled, The Surprising Impact Of “Finer Details” On Your Business.
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As a business owner, your primary focus will always be on the “big picture” – which is exactly how it should be. Entrepreneurs have to think ahead, consider the future, and establish broad goals and aims for their company to achieve in order to grow and succeed, after all.
However, there is a hidden downside to focusing on the “big picture” – you can miss the finer details of your business.
What are the finer details of a business?
Whatever type of business you run, there are finer details for you to consider:
• If you own an offline retail store, you’ll have to think about which brand of point-of-sale system you use, or the material of the carrier bags you provide
• If you run a borehole drilling company, you’ll need to consider inflatable packers on https://www.aardvarkpackers.com/products-list/inflatable-packers/ and decide if they are suitable for your project, or which size of injection cone you always need to have to hand
• If you own a medical practice, the finer details might be the type of instruments that you choose to use, or which brand of surgical tape you prefer to use
• … and so on.
Simply put, the “finer details” we are referring to are not the be-all and end-all of your company; they are the small decisions, the seemingly-minor choices that have relatively little bearing on the big picture you may feel you should focus on. However, the impact these finer details may have is far mightier than you may initially believe.
Why are these finer details so important?
The reason that finer details are so important is simple: they’re not actually particularly “fine” at all.
While finding the right inflatable packers or deciding on the material of the bags you provide in your store may seem somewhat irrelevant in the grand scheme of things, it only takes a hiccup with one of these supposedly-rather-small details to cause issues for your business. Let’s say that you have decided to provide plastic bags to customers of your retail store; a seemingly-small decision that you make in an instant.
However, what if your customers have been reading the likes of https://www.onegreenplanet.org/whats-so-bad-about-plastic-bags/ and are thus concerned about the impact of plastic bags on the environment? In such a scenario, there’s a chance that that small, seemingly inconsequential decision, could actually cost you customers or harm your business’ reputation.
For every finer detail, there is a potential downside such as the example above; a scenario in which a finer detail could interrupt your business’ productivity, alter your customers’ perceptions of your company, cause a loss of efficiency, or simply make your business’ operations more difficult than they need to be.
So what can you do?
Admittedly, finding time in your schedule to focus on every fine detail in your business is going to be challenging – like most business owners, you likely already feel that you’re constantly short on time as it is.
However, what you can do is review the finer details your business relies on. Every three months, take an afternoon to review all the details of your business, asking your staff for their input in areas that you do not deal with yourself. It’s also worth surveying your customers and asking them to identify any areas of the business they dislike, or problems that they have experience.
If an issue is identified with one of the finer details of your business, you can then make a change before the impact becomes overly damaging.
Focusing on the big picture in business is essential, but every once in a while, it’s also worth focusing on the very small, very fine picture too.