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Even if you don’t have a billionaire playboy, like Bruce Wayne, blowing all your company’s money on his nighttime adventures, that doesn’t mean your business is on solid ground. If you still need help running your business, here are four tips for you.
Make Business Deals Carefully
In The Dark Knight, Lucius Fox met with a Chinese businessman named Lau, who ran Lau Security Investment Holdings. Lau wanted them to join forces for a business venture, and Fox was all for the idea, until he realized that Lau was a crime lord. When his illegal activities came to light, Fox decided to call off the venture.
Making business deals is a good idea; however, be careful about who you make deals with. You probably won’t have to worry about any possible business partners being crime lords or even involved in illegal activities, but that doesn’t mean you should go into business with them. If a business deal seems suspicious to you or if you get a bad feeling about it, don’t go through with the deal. You can call it off at any time before you shake hands and sign papers, so don’t hesitate to cancel the deals that don’t feel right.
Good Employee Relations
William Earle ran Wayne Enterprises after Bruce Wayne’s parents were murdered and during Wayne’s long disappearance. Earle was an ambitious man—which is a good quality for people in the business field. However, his relationship with his employees needed some work. When the company lost an important device and Fox inquired after it, Earle fired him, letting him go with simply, “Didn’t you get the memo?”
You want to have the best relationship possible with your employees. Earle didn’t care for Fox, even though the man was a stellar employee, and the first chance he got to let Fox go, he took it. When you’re running a business, you can’t have that kind of attitude. Your employees are what keep your business operating, but you may not get along with all of them. However, don’t let your personal feelings for them blind you to their abilities. Recognize the good work your employees do and form a good work relationship with them, even if you don’t care for them individually.
Expansion into Other Industries
Wayne Enterprises started out as a shipping and chemicals company in the 17th century, but by the present day, it had expanded into not only technology, biotech, and electronics, but also into food, aerospace, and steel. It had a large research and development division, and it helped with Gotham’s healthcare system.
As your company starts to succeed, you may have opportunities to expand into other industries. If your resources are such that you can take those opportunities, do so. The success you started with will gain a momentum and it will carry through to those new industries. This idea is echoed in the phrase “expand or die.” Sometimes, businesses need to expand in order to survive, so take those opportunities when they present themselves.
Give Back to Your Community
Despite all the success Wayne Enterprises had, it never forgot its roots in Gotham City. The company even had a charity foundation called the Wayne Foundation, where they funneled some of their profits to help the community. This foundation provided scientific research for Gotham, and it helped keep orphanages running. It helped the arts and education, as well as hospitals. The company gave back to the community.
Don’t forget where your company started. Even if you’re a small company, there are ways that you can give back to your community, even if they’re just small things like helping the less fortunate around Christmastime. The more you give back to the community, the more you cement yourself as a part of the city, and you could see more success by customers choosing to bring their business to you rather than a competitor in another city.
Running a business can be difficult, but you can lead your business to success by utilizing any number of things, from a free website report to a well-timed business deal. By implementing the above ideas into your leadership methods, you’ll start to succeed, and maybe, in time, you’ll find that even a billionaire playboy blowing all your company’s money barely puts a dent in your finances.
Edson Senna is a business student and a part-time consultant for Free Website Score. He enjoys applying what he has learned by writing about investing, finance, entrepreneurship, and other business-related topics.