Build a Strong Company From the

Ground Up

New businesses open up all across America every day, and each new business owner has the hope and expectation of seeing their business succeed. Many of these new owners have sunk their life savings into the new business or have taken out huge loans. Unfortunately, many of these business ventures will fail long before they’ve even had a chance to get a good start. If you have the desire to build a strong company, then there are several important steps that you must take to make this dream into a reality.

Hire Strong Employees

Many new business owners have their eye firmly locked on the bottom line, and this often means hiring employees with little or no experience at minimum wage. Sometimes the entire work force is made up of family members and friends who just want to help. This is almost always a sure recipe for a business failure, and you can easily avoid this problem by hiring good employees right up front.

You should plan to scout out employees who have a strong background in your specific type of business. Look carefully at their references, do a background check and be sure to have a personal interview with them to determine if they are confident in their abilities and willing to offer support to your new business. You will have to pay more than minimum wage, but it will be totally worth it to have employees that know exactly what they are doing.

Keep Employee Morale High

Once you have your dream crew together and working well, you will want to do all that you can to show your appreciation and keep their morale at the highest levels possible. There isn’t usually a lot of money to throw around when a business is new, but you can still do small things to make your employees feel good about coming to work every day.

It is most important that you stay connected by making sure your employees know that they can always come to you with suggestions or ideas. Other morale boosters may include bringing a cake to work to celebrate a birthday, offering time off for those with important upcoming life events such as an anniversary and planning a Friday pizza party for every week that the business does well.

These are just a few of the many important steps that you must take to help ensure the growth and success of your chosen business. Those who start their company with an extremely strong employee base will enjoy the distinct advantage of having a great support system to help their business succeed.

Jeff Ramson is the CEO of PCG Advisory Group and an authority within the Investor Relations industry.