11Dec
It’s likely that there are some skills (teaching, business, or writing) you would like to improve, so you can be more successful. Organizing your plans to build your skills will help you attain them more quickly. One approach to organizing is to use a three-ring binder.
The first thing to do is to write a list of everything you want to achieve. We’ll call these goals. Prioritize these goals and number them in order of importance on your paper: #1, #2, etc. Place this list in your binder.
Then write each goal on the list as a header on its own page. These pages, too, are placed into your binder. Under each page header, you will make subcategories (sub-goals) that are component parts you need to master in order to achieve your goals. These subgoals must be successfully completed to meet the goal listed in the header. Number each subgoal as a subcategory. Subgoals of #1 are listed: 1.1,1.2,1.3, etc.
Into your three-ring binder, in the section devoted to a each particular goal, place notes from phone conversations or readings, relevant letters, ads, or mailers you have received. These go immediately after the page on which you have written the corresponding goal and sub-goals. What would help you to meet the first subgoal (1.1) of goal #1 would then be classified #1.1 and placed first after the page with subgoal #1.1. What meets the second subgoal (1.2) is then placed next in the binder. Using this system, you will find many of the necessary resources you need to act upon are always at your fingertips.
Still need more explanation? Here’s a more detailed example:
On your master list, you might have written: 1. Learn how to make/use a cash flow statement.
On its own sheet, you would write as your header: 1.0 Learn how to make/use a cash flow statement. Then on the same sheet, you would brainstorm what you need to do to learn about cash flow. These ideas are your subgoals. This might include:
1.1 Search the Internet for cash-flow information; 1.2 Buy at least one book on the subject; 1.3 Talk to friends who have businesses: 1.4 Take a class.
The next page in your binder contains information that supports subgoal 1.1 (Search the Internet for information). Here you might include a list of web sites that discuss cash flow statements.
Following the contents on 1.1, place the info that pertains to 1.2 (Buy at least one book on the subject). A mailer you received on a small-business book, for instance, belongs here. Label the mailer 1.2. Also with 1.2, you might place a review of a cash-flow book you picked up from business section of the Sunday paper. Notes from your visit to the bookstore where you studied various cash-flow books are also kept here.
To support 1.3 (Talk to friends who have businesses), keep notes of a conversation a friend who talked to you about cash flow.
In this way, you keep everything together in one binder and have easy access to the information you need to make decisions.
This organizational tool of the business strategy plan simplifies the process, gives you achievable step-by-step goals, and makes it clear to your worried manager-self that your work is do-able and can pay off.
If you want success, you must plan for it. Following a business strategy plan will keep you on track, make your goals reachable, and improve your success.
18Oct
As you begin to make decisions about becoming an entrepreneur, you will want to think about setting the goals that will help sustain your drive and vision. Remember, a lot of successful businessmen do not remain stagnant. In fact starting up and running a business involves continuous learning. A lot of this learning occurs from mistakes that you will make along the way and some mistakes you will inadvertently repeat. Other lessons are learned from interactions you have with friends, fellow business owners and customers.
Some of the goals you may set for yourself and your business may involve how much money you’ll earn as the owner and how much money your company will make every year. You’ll also want to set the number of hours you will work each week and how many hours should be spent uninterrupted with your family. You’ll also want to forecast how many employees you’ll have, the number of customers you’ll do business with in your first years and the speed at which your company can comfortably grow. It will also be nice to set your age when you will retire to your very own island.
Writing your goals on paper actually helps you reach these goals. Once they are written down, you can always refer to them on a regular basis to help you keep track of your own program or change them as the situation calls for it. It also helps your staff stay focused on the truly important things for your company. As you begin your life as a businessman, writing down your goals becomes a top priority.
As you start setting goals, you will have to be as specific as possible. A lot of people simply want “a decent living”, but this is too vague. Instead, write down the exact amount you want to take in profits from your first and second years in business. The more specific you are, the easier it will become to design a plan that reaches these goals. For example, you can plan several ways to earn $50,000. You can now calculate the number of customers you will need to buy from you as well is how many employees you’ll need to hire to make the number of products you need to sell.
But what does it mean if you don’t meet the goal? That will depend on how much you’re off. If you exceed your goals, congratulate yourself. If you are a little behind profits before tax, then at least you still took home some money and you are doing something on the right path. Check your goals, set the next ones and move on. However, if after a year you’re in more debt than when you started out, it may be time to reassess your goals or even consider going back to your day job.
Many people start with a goal that is realistic and then they work backwards. They develop smaller goals along the way that helps them reach their target. It always helps to keep your feet on the ground. Be as realistic as possible when you set your business goals – write down the exact amounts in terms of profits, taxes, salaries and perks to get a near-accurate picture of what you’re dealing with. Be as optimistic as you can or you might get discouraged if you don’t reach most of your goals. It is always safer to set goals that you can win.
11Oct
Successful small businesses are those which are small in size, but big in productivity and quality of its services or products. No matter what your business goal is or in which field you are working in, one company is worth as much as the people who run it, work and create within it. For a good and powerful business, the most important factor is the person that runs the job.
Good entrepreneur must have a clear vision of what are the business goals and its chances. A clear vision is precious for keeping you on the right way-working towards a definite goal, sidestepping diversions that are tempting but which do not contribute to the master plan. You must be able to communicate the vision to other people in the company, that way it becomes a shared objective.
However, as well as keeping in mind the bigger picture, a good entrepreneur should exhibit great attention to details. That is the way to ensure that your product is as good as it can be, that the service you provide is second to none.
Even though you mustn’t forget your basic small business plan and dreams (this is where inspiration comes from) working in a real, complicated world, commits you to be realistic and honest to yourself and your company. Theory can only achieve so much; at some stage an entrepreneur needs to get practical and simply get things done, even if that is different of what you believe it should be.
Don’t be afraid to swim upstream-if everybody goes one way but you believe there is another, better direction, do it. Be prepared for many folks to wave you down telling you how wrong you are. It’s ok. Successful people are quite often considered stubborn and unreasonable, but while other people tell them they are wrong, they rack up one victory after another.
It’s nothing new that one must put enough effort and work hard if want to achieve something. What we often forget is that only with passion for what we are doing we can completely commit ourselves to our objectives. Owner of the small business must be enthusiastic about his/her work and able to sweep other people along on that wave of enthusiasm.
Most of the entrepreneur’s work involves communication. That is the point in which you should use all your charisma and persuasiveness. This will help you turn prospects into sales or putting the case to potential investors. Charming is useless without intelligence. One small business leader perhaps doesn’t have to be “book smart” but knowing human’s nature and real life is necessary.
Being good in communication with your prospects, clients and business partners can’t help your business if your inside communication doesn’t work. Fortunately that depends on you. The ideal employee is the one who works for your company as it is his own. It is a positive feedback. If you treat your employees as partners, sharing with them all important ideas, profits, success and failure, they will treat you as a partner themselves. Any person works better if feels that is respected and trusted. Of course, the right evaluation of people who are going to be a part of your team is the first and the most important thing you have to do.
Starting a small business can be a beautiful and challenging. Among advantages of running this kind of company we can mention flexibility and personalized services. You don’t need a huge amount of money to start working, and these companies enjoy greater accountability and greater responsiveness since they generally maintain a close relationship with customers and clients.
As a leader of one small business you are the one who creates the basic idea, who chooses the employees creating a productive team, who defines a relations with customers, clients, competition and society your firms is working in.
24Sep
It is imperative that, as a small business owner, you create a marketing plan. It’s also imperative that you realize your marketing plan is going to be a work in progress. Your plan (and you!) must be flexible enough to change and adapt to the current market conditions, changes in the economy, advances in technology and so on.
Here are 6 great tips to keep in mind when you begin creating your own small business marketing plan:
1. Establish Goals
Your small business marketing plan should be very goal oriented. Being able to visually see what your intentions are for your business can often help you plan and organize in a way that will help you reach your goals quicker and more efficiently. Before beginning your marketing plan you should sit down and write out exactly what goals you intend to reach.
Next, figure out a rough idea of how you plan to reach these goals. Be as specific as possible; include exact numbers (number of clients, number of products, number of websites, etc), exact dollar amounts (amount of sales, amount of profit, amount of affiliate commissions, etc) and exact dates (when your website will be completed, when your sales calls will be made, when your products will be released, etc.) There is no way you can draft an outline of what you plan to do with your business unless you really know what you want out of your business.
2. Identify Yourself
Though many small business owners do not see the point in creating a brand for themselves, you are creating a brand whether you realize it or not. So why not do it deliberately? Include in your marketing plan exactly what you want your customers’ and the market’s perception of your business to be. What personality will your business take on? What do you want to be known for? What do you want the “gossip” about you to be about? This should be spelled out in your marketing plan and should be something that you actively strive for on a day to day basis.
3. Develop a Budget
Be sure to include in your yearly marketing plan the budget for the year as well as your plan for achieving this budget. Though there will always be additional financial documentation separate from the marketing plan, it helps to include exactly what your goals are for spending, budget, and earning. This way you have a perfect example to look at; and remember to always leave room for flexibility and editing of your marketing plan.
4. Describe Your Product or Service
One of the greatest things about your small business marketing plan is that it will come in very useful as your business grows. You’ll be able to hand it off to your new team members and they’ll have a perfect sense of where the business is going and how it’s going to get there.
But one of the funniest things I encounter in working with small businesses is that many of the ancillary team members can’t exactly tell me what the business they work for does. Since they’re only involved in a small portion of the business, they’re not familiar (or have never been told) the big picture. This is especially true with consulting businesses and service providers.
So be sure to describe in detail your product or service and how it will improve the lives of your customers. Many small business owners skip this step, thinking they already know exactly what they do. But remember, you’ll have a larger audience than just yourself for your small business marketing plan – and you might be pleasantly surprised at useful this step is to you and how you view your future marketing activities.
5. Describe Your Target Consumer
You should make it abundantly clear within your marketing plan who your business is aimed at and how you plan to market to that particular group. Clearly targeted customers are vital to a business or marketing plan. Your plan is all about articulating who, what, when, where, and why. This is the “who” and it helps to make it clear to everyone in the business (especially you) what sort of person you are targeting as a potential customer or client. By having a very clear description of your target customer, when you set out to advertise, promote, or change a product, you’ll know exactly where and when to do that. You’ll know where to spend your advertising dollars, you’ll know how to phrase your messages, you’ll know what type of graphics to use, and on and on. Don’t be tempted to skip this either – again, I think you’ll be pleasantly surprised at a useful it is to get your target market profile down on paper.
6. Tell What Makes You Unique?
Being able to set yourself apart from all of your competitors is a huge part your small business marketing challenge. You need to clearly separate yourself from the crowd. This is called your “unique selling proposition”. What makes you different? How do you stand out from other businesses that are selling the same product or offering the same services? Create a clear and coherent statement on this differentiation within your marketing plan. Not only does this help to improve confidence in your product, but if a prospect asks why he should do business with you, you’ll have a clear answer to give him.
Can’t find anything that sets you apart? Be sure to spend the time creating something! Schedule a brainstorming session with your staff members, your best clients, even your family and friends. Often times, these people already know what sets you apart, and it’s usually something that you’ve taken for granted all along. And one last word of warning: avoid using Price as your unique selling proposition. There is always someone willing to undercut you or use your product as a loss leader, trapping you in a never-ending game of sales and price reductions.
A small business marketing plan is essential to your business. It doesn’t have to be something large and cumbersome; you’ll get more use out of a marketing plan that is flexible and easy to follow. So I challenge you to set aside a few hours over this upcoming weekend and begin drafting your small business marketing plan. You’ll be amazed at how helpful this step is to the growth of your business.
20Aug
Enterprise Resource Planning (ERP) software can be described as a complete business software solution. It is aimed at the integration of all business processes and sub-processes into a single unified system. This system is formulated and implemented in an organization to effectively and efficiently achieve the business goals of the organization.
ERP packages are implemented to manage the existing and prospective business plans and policies in an efficient manner under strict deadlines. It can be referred to as the ultimate business solution package that is predominantly concerned with making sure that the available resources of the organization are utilized in the best possible manner and coordinated with the business objectives of the organization.
It is crucial that modern day business organizations have a single unified system, which aims at harmonizing its business efforts. This can prove to be a crucial determinant in deciding the scope, area and net results of the organization as a whole, rather than running many different systems that don’t work well together. What makes ERP different from any other business solution package is the presence of a single and unified database system.
ERP software is as essential to the needs of a business today as food is for living. Businesses cannot run competitively in the absence of properly drafted and formulated ERP software. The more effective implementation and follow-up, the better are the results. ERP software is needed by all modern-day organizations, irrespective of the size, area of operations and business objectives.
Nowadays there are many ERP packages available in the global market, including SAP, PeopleSoft, Oracle, J D Edwards, and BAAN.
The selection of an ERP software package is dependent on many factors: previous software implementation, nature and size of operations, recommendations of consultants, and management decisions.
Before installing specialized software, a detailed study must be made and reviewed to match the business requirements with the available packages. This must be taken as a serious study as any mistake in selection or its effective implementation can prove disastrous to the organizational objectives and prospects. The ERP software must be installed by an ERP vendor or third-party consulting organization, which are expert service providers when it comes to providing Consulting, customization and support.
Some of the benefits of ERP Software:
* All processes and sub-processes are linked and unified into a single system.
* There are enhancements in the field of productivity, efficiency and achievement of business objectives.
* ERP tends to considerably reduce the response time by effectively transferring crucial information.
* ERP helps in streamlining the numerous functions performed by the organization as a whole.
* It helps the management to make vital decisions with unparalleled accuracy and in-depth study.
Thus, ERP software can effectively change the outlook of any business organization that exists in today’s cutthroat business world. Proper implementation of the ERP software is the key factor, which can benefit the growth prospects of any organization.
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