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Thriving As A Business: How To Make Sure You’re Giving Your Business The Best Support

Last Updated on November 14, 2024November 14, 2024 Leave a Comment
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Running a successful business is one thing. Keeping it successful? That’s a whole other game. It’s easy to get wrapped up in the excitement of growth, but if you want your business to not just survive but thrive, you’ve got to give it constant care and support. It’s like a garden—you can’t plant seeds and then forget about them. They need water, sun, and a little pruning now and then to stay healthy and grow. And just like with a garden, giving your business the right kind of support means making good choices, building strong foundations, and creating a network that’ll help it weather the ups and downs.

In this blog post, we’ll explore three key areas where your business needs the right kind of support. We’ll talk about creating a culture that embraces learning, setting up operations that make sense, and building relationships with the right people. This isn’t about quick fixes or shortcuts; it’s about making thoughtful, long-term moves that keep your business thriving year after year.

Embracing A Culture Of Continuous Improvement:

If you’re aiming for long-term success, the people in your business need to grow along with it. This starts with a culture that doesn’t settle. No matter how good things get, there’s always room to make them better, right? 

Encourage Innovation And Learning

Innovation isn’t just for tech companies or start-ups; it’s for everyone. Every business, big or small, benefits from fresh ideas. Let’s be real—your employees are the ones who are in the trenches every day, so they’re the ones who are likely to spot opportunities for change or improvement. Give them space to try things, to fail sometimes, and to learn. Learning doesn’t have to mean formal training sessions either; it can be as simple as letting team members try new things and stretch their skills. It keeps them engaged, and it keeps your business moving forward.

Feedback Loops Are Gold

Feedback is one of the best ways to make sure you’re not only improving but improving in the right direction. Think of feedback as a loop. You give it, you get it, and everyone learns from it. A thriving business knows that feedback isn’t a one-time event but a continuous conversation. Let your team know it’s okay to speak up, whether it’s about something small that’s been bugging them or a big idea that could shake things up. You want an environment where people feel free to say, “Hey, this could be better,” without worrying they’ll be ignored or attacked for saying it. And this goes both ways—you should be open to feedback, too. It’s a way of making sure everyone’s rowing in the same direction.

Goals Are Great, But Stay Flexible

Ambitious goals are what keep everyone focused, but sometimes we get so attached to a target that we forget why we set it in the first place. Goals should push you forward, not back you into a corner. If something isn’t working, don’t be afraid to change it up. Maybe a product launch isn’t going to hit the deadline, or a marketing plan isn’t landing with customers the way you’d hoped. Adjust, adapt, and keep moving. Flexibility doesn’t mean giving up on the goal; it means finding a better way to reach it. When you allow for this kind of adaptability, your business can grow and thrive without getting stuck in old ideas or outdated plans.

Reward Growth, Not Just Results

It’s tempting to only reward big wins, but the truth is that a culture of continuous improvement is built on recognizing the steps people take along the way. Celebrate those moments of growth, like a team member learning a new skill, finding a more efficient way to handle a task, or even just putting in the extra effort to solve a problem. When people feel like their development matters—not just the outcome—they’re motivated to keep pushing forward. Small wins build up over time, and before you know it, they’re moving the business forward in a big way.

Establishing Strong Operational Systems:

Every business needs a solid backbone to lean on, and that’s what your operational systems are. These are the day-to-day processes, the tools, the workflows that keep things running smoothly. 

Streamline For Sanity

Let’s face it—no one wants to be stuck doing paperwork or wrangling spreadsheets all day. If your processes are clunky, they’re going to slow everyone down. Take a hard look at how things get done in your business and ask, “Is this really the best way?” Maybe there’s software that could automate a task, or maybe certain steps are just no longer necessary. A streamlined process saves time, money, and sanity. It frees up your team to focus on what they’re best at, rather than getting bogged down in repetitive, low-value work. That’s how you keep people motivated and how you make sure your business runs like a well-oiled machine.

Don’t Compromise On Quality

Quality isn’t just something you aim for; it’s something you need to make sure you’re delivering every single day. When you focus on quality in everything—from the products you create to the way you handle customer service—people notice. Build quality checks into your processes. This doesn’t mean adding more red tape; it just means setting standards that ensure you’re putting your best foot forward. If your team understands that quality matters, they’ll make it a priority, and that’s something that pays off in customer loyalty.

Plan For The Unexpected

Here’s the thing about business: something will go wrong eventually. A key supplier might miss a delivery. A tech outage might grind everything to a halt. That’s why every thriving business has a backup plan. Spend some time thinking through the “what ifs.” What if the market changes overnight? What if there’s a data breach? What if your biggest client suddenly goes elsewhere? Having a contingency plan means you’re ready to deal with these bumps in the road without going into panic mode. When you’re prepared, you can handle surprises with confidence and come out the other side stronger.

Regularly Reevaluate Your Tools And Processes

Just because a system worked well last year doesn’t mean it’s still your best option today. Technology changes fast, and so does your business. Make it a point to check in on your tools and processes regularly. Are there newer, more efficient tools out there? Has your team’s workflow changed in ways that could use a new approach? Sometimes, updating or replacing a tool might feel like a hassle, but in the long run, these adjustments will keep your business nimble and prepared for whatever may come next. Regularly tweaking your setup isn’t a sign of instability; it’s a commitment to keeping things running smoothly.

Building Strategic Partnerships:

No one thrives in isolation. The best businesses know they can’t do it all alone, and they don’t try to. Instead, they build the right partnerships. These relationships become part of the support system that keeps you moving forward.

Choose Suppliers Who’ve Got Your Back

Your suppliers play a big role in your success, even if they’re mostly behind the scenes. A reliable supplier can be the difference between meeting a deadline and having to make excuses. Let’s say you work with a specialized supplier, like a pharmaceutical packaging company. In this case, the stakes are high. You need a partner who understands the industry’s regulatory standards and who delivers consistently. A good supplier relationship goes beyond transactions; it’s about trust and shared goals. When you have suppliers you can count on, your business feels the benefits at every level.

Collaboration Is A Growth Tool

Working together isn’t just a nice idea; it’s one of the most practical ways to grow. When you team up with the right people, you get access to new ideas, new audiences, and new skills. Think about what your business needs. Are there areas where you could use some extra expertise? Are there companies with similar values that complement what you do? Partnerships don’t have to be complicated; sometimes, it’s as simple as sitting down with another business and seeing where you can support each other. When everyone brings something to the table, the results can be pretty amazing.

Invest Time In Personal Connections

Business is personal. The stronger your connection with your partners, the more likely they’ll have your back when you need them most. It’s about taking the time to get to know the people behind the contracts, understanding their goals, and sharing a bit of your vision, too. These personal connections build trust, and trust is the secret ingredient to any lasting partnership. After all, when times get tough, it’s those trusted relationships that help keep everything steady.

Build Lasting Customer Relationships

At the end of the day, no business thrives without its customers. But a one-time sale isn’t enough; you want customers who come back, who tell their friends, who trust you. Building relationships with your customers means listening to them. What do they need? What’s bothering them? You can learn a lot from a simple conversation, whether it’s through social media, a feedback survey, or just a friendly chat. Customers want to feel like they matter, like their opinions are valued. When you make that effort, they’re more likely to stick with you, even if things go wrong once in a while.

Conclusion:

Keeping a business thriving is a journey with no real finish line. It’s about supporting growth and evolution, every day, in every decision. Think of it this way—each good choice, each solid partnership, each small improvement is like adding another brick to your foundation. You’re building something resilient, something that can stand the test of time.

And remember, thriving isn’t just about big wins or growth spurts; it’s about staying the course, being adaptable, and knowing that every bit of support you put into your business strengthens it. Keep nurturing it, keep investing in it, and keep surrounding yourself with people and systems that help it grow. That’s how you thrive—not just for today, but for the long haul.

This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

More Recommended Ebike/Scooters

Check out these other ebikes and scooters I've reviewed:

  • Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
  • Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
  • Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
  • Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
  • Sohamo S3 Step-Thru Folding EBike Review – A Great Value Folding Ebike – The Sohamo S3 Step-Thru Folding Ebike is an entry-level folding ebike that offers a lot of value for the price point. I’ve been riding the Sohamo S3 for a while now, putting the bike through its paces, and I have to say, this bike has exceeded all of my expectations. Check out my Sohamo Review.
  • KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
  • Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
  • Himiway Escape Ebike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
  • Espin Sport Ebike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
  • Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
  • Varla Falcon Scooter – The Varla Falcon is an excellent scooter that offers a good amount of power at a lower price point compared to more powerful scooters. It’s not exactly an entry-level scooter, nor is it a high-powered scooter. I think it fits somewhere in-between those two categories – an intermediate scooter if I had to give it a category. Check out my Varla Falcon Review.
  • Hiboy S2 Scooter – The Hiboy S2 is an excellent entry-level commuter scooter that's perfect for someone looking to save some money in transportation costs and improve their commute. Check out my Hiboy S2 Review.
  • Hiboy S2R Scooter – The Hiboy S2R is one of the more interesting electric scooters I’ve been able to test out. It’s not a high-powered scooter, but for an everyday transport option, it’s very useful, especially given some of the unique features that it has. Indeed, for the price, the Hiboy S2R might be the best value scooter I’ve used. Check out my Hiboy S2R Review.
  • Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.

More Recommended Investing App Bonuses

For additional investing app bonuses, be sure to check out the ones below:

  • M1 Finance ($100) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
  • SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with just $10 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
  • Webull (20 free stock shares) – Webull's current promotion gives you 20 free shares valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free shares using Webull.
  • Moomoo (15 free stocks) – Moomoo is a free investing app currently offering 2 different referral bonuses if you open an account using a referral link. Read my Moomoo referral bonus guide for more information.
  • Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
  • Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.

More Recommended Bank Account Bonuses

If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.

  • Upgrade ($200) – Upgrade is a free checking account that’s currently offering a $200 referral bonus if you open an account and complete a direct deposit. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Here’s a post I wrote with more details: Upgrade $200 Referral Bonus – Step By Step Directions.
  • Ally Bank ($100) – Of all the banks out there, Ally is, without a doubt, my favorite. At the moment, Ally is offering $100 to customers who open an eligible Ally account and meet the requirements. Here are the step-by-step directions to earn your Ally Bank referral bonus.
  • Fairwinds Credit Union ($175) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
  • Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
  • US Bank Business ($900) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
  • GO2Bank ($50) - GO2Bank is an easy bank bonus that I recommend people take advantage of if they have an easy way of meeting the direct deposit requirement. I like that it’s easy to open the account and that the bonus pays out quickly. Check out my step-by-step guide on how to earn your GO2Bank $50 referral bonus.
  • Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
  • Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
  • Varo ($25) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $25 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
financial panther

Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:

  • SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
  • 5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
  • US Bank Business. US Bank is currently offering new business customers a $900 signup bonus after opening a new account and meeting certain requirements.
  • M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
  • Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.

Feel free to send Kevin a message here.

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