How To Effectively Manage A Small Business
I am convinced that you know that effectively managing a micro-enterprise is one of the skills that, yes or yes, you must have as a person at the head of a business.
But what exactly does it mean to run a business effectively?
What should you be doing to be managing your small business in the most effective way?
This is exactly what you are going to discover throughout this article, as long as you are open to listening to new proposals and, above all, to applying them in your business.
Table of Contents
Difficulties In Running A Micro Business Effectively
It is difficult to stop to think about how to manage your micro-business in a different way when your day-to-day life takes you. When, now more than ever, your business faces greater uncertainty.
I understand how you feel.
But, precisely at times like the ones we are experiencing, now, is when you most need to manage efficiently. This is precisely when you most need to see what the leaders in your industry are doing and how you can apply their techniques to your business. In short, it is about learning new ways of managing the resources you have at your disposal.
It is not just about improving the economic-financial management of your microenterprise (something vital of course, and that you can focus on by acting on the Profit and Loss Account of your company or acting on your prices).
I also talk about optimizing the operational management of your company. Perhaps now is the moment you were waiting for to digitize processes that allow you to increase the margins you manage.
And of course, act on administrative management . It is no longer enough that you are up to date and comply with your legal obligations (tax, accounting, etc.). It is about you acting under a strategy that allows you not only to comply but also to optimize. That you use accounting data as a lever for a source of information to improve your profitability (for example, reducing your tax contingencies).
Tips To Manage More Effectively
From here I am going to give you 5 tips to manage your small business more effectively:
1 Know The Basics Of Management.
When one of my clients is faced with a difficult situation, I always apply the same principle: let’s start with the basics. From there we can move forward.
And, if we talk about management, the basic components are four:
1. Plan: develop or establish a plan according to which something has to be developed, especially an activity.
2. Organize: have a set of people and means for a specific purpose. That is, it consists of preparing something carefully and thinking about all the necessary details for its proper development.
3. Execute: carry out an action , especially a project, a commission or an order.
4. Control: exercise control over someone or something .
I give you more information on how to implement these basic points in my article 3 keys to having a successful business
Efficiency simply does not exist if there is no direction set. Have you heard of going as a headless chicken? Do your workers feel this way?
It is because there is a lack of leadership. Of direction.
Focus on what’s important. In the focus of your business. Determine the correct way to do it and normalize that way of acting.
Automate the rest (saving time from slow, mechanical and unprofitable processes) or delegate it to a trusted team (you can have others take care of the tedious part of controlling your business, and help you plan and control if you don’t want to do it).
If you have undertaken alone you must be up to date on those tasks that you have to do because you cannot assume the cost of delegating them. You can do them, but you will have to learn.
5 Have The End In Mind
Keep fighting for your dream and being faithful to your ideals . Persevere until you reach the end of the path you have marked.