5 Steps to Becoming a Good Steward of Your Company

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In a previous blog we talked about how being a good steward of your company is essential to its health and long term growth.  And how being a good steward of your company’s main asset - its people, will allow them to focus on what they do best, so you can ultimately grow the influence of your business. But how exactly does one become a good steward. Here are five simple ways that you can be a good steward of your company and its main resources?

Finances: 

Keeping a close watch on inventory levels, accounts payable / receivable and cash to cash cycle are all key to making sure your company finances are sound. Seek the advise of wise council and copy those who are successful in your field. 

People: 

Choose a great team to implement your vision into the product or service you provide. Invest in those relationships to avoid a high turnover rate. 

Clients / Vendors: 

Just like choosing a great team of employees you want to work with like minded clients and vendors who share                         your passion and vision.

The Future: 

Have a strong vision and plan for where you want your company to go. Be looking towards the future and not just relying on your past accomplishments to see you through.

Your Technology: 

Unless you invest in new technology your company’s growth can suffer and not keep up with demand. Old tech needs to be cycled every few years and refreshed. Old tech can cause inefficiency which slows down deliverables.