Do you have what it takes in BUSINESS MANAGEMENT?

Am very excited to be discussing today's topic on Small Business Management. This is because being an entrepreneur is something very exciting and  yet challenging. I wouldn't recommend it for everyone. In the beginning i had all these ideas of which i wrote them down and prayed over them and started, however i will honestly say as much as i got the much encouragement and got as many  queries on my product i lacked a lot that i could only attain from proper education and training and this brought a major stand still.

Sometimes we see things in one dimension and this can be quite costly, as your growth to be successful as a business person can be either stagnant or could fail. Formal training is very important as this boosts your business and mental ability to success and note down what we over see as individuals. Don't let a small hic-up destroy a dream, get the right knowledge and know how and hopefully first hand experience. click here for more

Most importantly, some business ideas need huge sums of money, or prospectus or boosting, here you might need to visit banking institutions for support, the only way you can succeed through this is by getting the formal training on whats is required how to build your portfolio and make a sale!

Here are some of a few tips off my head!

•  Begin with a plan. Not all home businesses need an official business plan, but every home business owner must spend some time planning. Before you put out your shingle, sit down and determine how much money you need to invest (and in what), your goals (short- and long-term), your marketing plan and all those pesky details (For example, do you need a separate checking account?).

• Find a mentor. You may know someone who has successfully created a home business and feel comfortable asking for advice. Another way of getting mentor ship is through formal business management training. 

 

•  Money in the bank. Don't quit your day job just yet. For those of you considering the full-time freelance plunge--set up a savings account with enough funds to cover at least six months' worth of bills. This will give you a buffer to help with your budget. While hunger might be a good motivator, it's easier to work when you have electricity and your house isn't being repossessed. - Sometimes its worth to mention some risks can be worth it....evaluate how much can be affected and make a calculated risk.

• Keep competitive. Even if you think your business is unique, you need to conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality and service. Also be aware of the outside influences that affect your business. Know what makes the difference between you and your competitors. Is it service, price or expertise? Whatever it is, capitalize on it.

• All systems grow. Word of mouth is the best way to grow your business. Ask your satisfied clients for referrals, offer free consultations to new referrals, and consider a referral or finder's fee. Get your name out to build your brand. Go to industry events--conferences, association meetings and seminars. Go to events in client industries; socialize, and always have your card ready. In addition, do some pro bono work for a charitable organization with industry links.

These are some of the points over time i have gathered and would love to hear from you if your in business or starting out maybe need some advise or heads up. As usual feel free to comment, commend or share!


Lastly as the president of the US Obama jets in, be sure roads will be closed so plan yourself well and don't disappoint a client cause of these changes!

Have a fruitful day.