Five Keys to Operating a Successful Services-Based Business
These keys to success are helpful pointers for operating a service company based on sound business practices and plans for future growth, while minimizing your liability exposure:
1) Clear Ownership and Management of the Company
- The adoption of an operating agreement to set forth any company owner(s) and the terms governing company management, including how important decisions are made.
2) Managing Customer Expectations
- The use of customer agreements to ensure that your company and its customers are on the same page about the work to be performed, including cost and scope of services.
3) Forming and Maintaining Good Teaming Relationships with Partners or Subcontractors
- The use of partnership or subcontractor agreements to outline the relationship with any third party partners used to complete any of your company’s jobs.
4) Implementing Measures to Minimize Liability Exposure on the Job
- The implementation of policies and procedures to describe your staff or crew’s on-the-job duties and conduct
5) Protection of Important Company Information and Trade Secrets
- The use of confidentiality or non-disclosure agreements to protect important company information (i.e. company earnings, customer information, or trade secrets) shared with any employees, staff and outside parties, such as independent contractors, consultants and other partners.