Business owners learned the importance of performing a health check on their companies during a recent workshop sponsored by the Augusta Metro Chamber of Commerce.
“The Health of Your Business: What’s Working. What’s Stuck, and Why?” was presented by Danielle Folsom, founder of The Productive.
That is a local consulting firm helping businesses be more efficient through clarity, alignment, and strong people systems.
Folsom believes, like humans, businesses also have a DNA specific to its operation and business sector.
“My theory is that every business has a face, a heart and bones, and so we can kind of look at your business through that lens or through that model, and start to determine, what’s really healthy and working, what’s really good in your business, and then what might be some weak spots or some gaps that might be draining your profit and affecting your bottom line more than you know,” she explained for ABD.
Although Folsom is an expert in human relations (HR), she told attendees that there are layers within that category beyond the traditional payroll, tracking time off, and compliance challenges.
She said that is the traditional image of HR. However, she says there is also another approach, a strategic one.
“I do the strategic HR, the vision, the growth, the leadership development, the culture, the change, the technology, the AI, the client experience, right on the left,” she said. “It keeps the business steady and compliant. It is needed and is necessary.”
She said every business, at its core, has three similarities. They all have people, processes, and practices.
“I have found that when you invest back in your people, your processes, and your practices, you start to see these outward ripple effects,” she said. “You start to see more clarity from your client base. You start to see more engagement from that customer base. You start to see more profitability, more growth, and most importantly, in my opinion is efficiency.”
Folsom stressed the importance of business owners taking a close look at the workings of their company. Look at the importance of having up-to-date technology, but also to ensure it is correct for the business. After that, professionally training employees in its use becomes critical.
“I think it’s easy to get caught up in what’s new and fancy and the biggest and the brightest and the best, and it’s easy to go out and spend a lot of money on something that you’re hoping helps your business,” she advised. “My biggest piece of advice is looking internally at your business, looking at your people, your processes, your practices, trying to improve from the inside out, and that’s really going to have a bigger effect than you realize on your bottom dollar.”
Folsom’s workshop was primarily designed to help existing businesses, those that have been in operation for a few years. But she also had advice for budding entrepreneurs and startups, drawing on her own experience moving from the corporate world to being her own boss.
“Two things, first, you just have to jump in and do it. I really loved my previous employer, but I loved my dream more. I loved my vision more,” she said. “So, just dive in and then to be prepared for a lot of hard work. It is a grind, 24/7, when you’re building your own business, you are creating that structure day in and day out.”
Learn more about Folsom’s company at: https://www.the-productive.com/
The workshop was part of the Augusta Chamber’s Third Thursday Business Builder series. Learn more about it and other programs at: https://www.augustametrochamber.com/about-our-programs
