Get the Core Business Basics Right
Running a Small Business can and should be a fun way to make a living, and it often is when you start out. But eventually it becomes more and more complex until a good nights sleep is only a vague memory.
When this happens it isn’t long before going to work in the mornings is the thing you dread the most. And; once you add that, to the stress and strain of managing your business in times of tight credit and low sales and all to soon, your dream really is a nightmare. And; what was once a pleasure is now a burden?
The main problem here is neglect of the core business basics, the administrative engine that runs your business.
You see, most new business owners quickly forget that the core basics of a business, the hiring of employess, the developement of products, caring for customers, collecting payments and paying bills, are the core administrative functions of the business. These are 85% of your business and you have to set them up properly, or the other 15% will either, never happen or become meaningless.
Never neglect the core business fuctions, for if they run smoothly you will enjoy running your busines and sleep soundly.
Here are the core business basics you need to focus on …
- Remember your people are your business; get them working with you and not just for you.
- Care for your customers, treat them the way you did when first tried to win their business.
- Remember Cash is and alway will be King. Look after every cent and only spend when you have to.
- Owing money leads to worries. Pay your debts on time, it’s worth money in the bank when you need it.
- You are not your customers banker. Do not extend credit to bad payers.
- Learn to only buy what your business needs, not what you want for it.
- Always ask, “Will this make money for the business?” If not, don’t do it.
- Never fixate on the competition; competitors don’t improve business.
Customer care does.
Finally, the other 15%. This is what makes your business different, what makes customers want to do business with you and why you enjoy your business. Get the business basics right and you’ll have more and more time for that 15%.
Business Grants & Funding
Grants for Starting a BusinessWhat's the point in having a great idea if you don't have any cash? You need capital to move your business from an idea to reality.
Raising Business FundingFunding is essential for every start-up business. Do you get it from family and friends, business loans, the SBA or other sources?
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