Mission Statement
Here at Liberty Small Business Resources, our goal is to empower businesses to be sustainable and highly profitable.
7 Key Elements Of A Business
PRODUCT/SERVICE
Having an excellent product/service is essential for any business. This is going to be the greatest key to success. Your product needs to solve a problem while being unique enough to set you apart from others in your industry; without this, there is no money.
CLIENTS/CUSTOMERS
There are many benefits to excellent customer service, ranging from increased loyalty and repeat business. One study revealed that customers who received positive customer service experiences were 44% more likely to recommend the company to a friend. Giving excellent customer service fosters trust with your clients. Also, having a consistent lead generation system to bring in continuous qualified leads is essential for a steady cash flow.
FINANCIAL
Managing finances is essential for any business. Without a solid financial footing, your business can quickly become unstable and unable to meet obligations; therefore, having a budget is critical. Budgeting allows you to plan ahead and make sound decisions. Sufficient cash flow and having a 6-month reserve is not only smart, but it will also help the owner sleep at night.
EMPLOYEES / OUTSOURCING
There are at least 101 reasons to have employees or outsource things, from time-saving tasks such as data entry and social media management all the way to more complex projects that require an expert. Outsourcing not only saves time, but it also saves money to achieve your company’s goals. Outsourcing is a great way to deal with tasks that your employees may not specialize in an owner just because you can do it does not mean you should be doing it. Blessing others with work does not only make you feel better you are helping another family.
LEADERSHIP
Excellent leadership is another key to building a successful company. A great leader is able to see things from multiple perspectives and understands how people work best. They also have a strong intuition that aids in making decisions that will result in the success of the company and everyone associated with it. A great leader is able to take the initiative and make any necessary changes needed for the health of the company. Most of all, a true leader has a servant’s heart, and their role in the company is to raise up other leaders.
SYSTEMS / PROCEDURES
Systems/Procedures is what keeps thing simple in your everyday operations. It helps monitor and manage the inner working parts of a company. The purpose of systems is to allow for coordination and communication across the business. By using systems effectively, a business can optimize operations and improve productivity. By managing your systems properly, the company can identify problems early and make any necessary adjustments before they cause issues that could disrupt the operations of the company.