As a new business owner on a limited budget you have to multitask, juggle, prioritize and balance. Unlike corporations, you don’t have a dedicated team of professionals to help you manage, allowing you to focus on more important business strategies.
Nor do you have the capital to afford such luxuries. At exceptional you have got about twenty employees which you want to educate, supervise, motivate, schedule and pay.
Skills Required To Run A Small Business
Are you tired of being an employee and want to be your own boss? Do you have the skills needed to run a small business? In this article I look at the types of skills that people need to acquire to successfully run a small business.
Discipline is another requirement if you want to be successful in running your small business. It’s easy to get lazy and watch too much television or stay up a few extra hours in the morning. While you may not have anyone to answer to, you must have the character to ensure that you put in the required hours and work.
Small Business Networking
You need to make small business networking your priority for the first few months of operation. This is a technique that cannot be rushed. You won’t go to your first network event and get six clients who need a network upgrade next week. But if you attend a small business networking event, there’s a good chance you’ll come away with five or six quality contacts.
Networking for Contacts
In addition to your potential client contacts, the beauty of small business networking is that the accountant you speak with has a neighbor whose brother is trying to network for his company’s regional office.
The Bottom Line on Small Business Networking
Client connections and client referrals are what will lead you to long-term, stable clients – the kind of clients that will make your business successful. Getting out and attending small business networking events may seem like counterproductive socializing, but the connections you make will generate a huge return on the time you invest. Start your small business network today – you never know where it will lead you.
Small Business Startup the Ten Rule
Computer consultants, when they consider starting a small business, tend to focus on the technical aspects of the business. The rationale is that they want to offer a decent service and have excellent technical skills before anyone is willing to pay them.
- Lead generation
- Going out on sales calls
- Preparation of proposals
During the start-up phase of a small business, you must adapt to the need to acquire high-quality clients. Every non-client hour that doesn’t have to go into administrative or organizational duties should be poured into prospecting and networking. Once you start moving beyond the start-up stage of a small business, it can get a little easier. For now, though, consumer technology is your precedence.
The Bottom Line on Small Business
To start a startup small business, it is important to follow the 90/10 rule. Spending 90% of your time on direct marketing and business development activities versus 10% on developing technical skills is a trade-off that’s worth it.
Small Business Owners – Listen Up
Have you ever wondered why SPAM has caused such a public outcry compared to the silence of its unsolicited paper cousins, Direct and Junk Mail? People seem to care more about what goes into their inbox than their letterbox.
Well, these mistakes do exist and they’re not just reserved for rookie companies. Many working businesses, including those you might think are “successful” because they’ve been around for 10+ years, are often still building them and potentially losing a lot of money and/or Or wasting a lot of time in the process. While some of these big and sneaky mistakes are aimed more at service-type companies, they really apply to almost any type of industry. I’ve done my best with the lists below to give examples to prove it.
Stop the Stupid Stuff’ In Your Business
This is silly in two ways. First, they’ve chosen to punish consumers who want to continue to get what they’ve always gotten – one-on-one attention. Worse yet, they have done so by saying they will charge more for this previously standard level of service. How many customers will they lose because of this selection? I know at least one.
There are subtle, but no less harmful, stupid things that businesses should stop doing. Take the new Wheaties boxes, for example. General Mills recently introduced Wheaties boxes with images of US Olympic gold medalists.
If you take advantage of this type of opportunity and buy a successful franchise, you usually don’t have to worry about it folding in the first year. Franchise.com has a list of franchises for sale in the United States as well as other countries. You can view the list of franchises and decide on the one that interests you, and then learn more about it. Franchise fees and required investment are also listed on the website.