In my 25 years in small business I have seen many changes.
In these times of a continually changing consumer environment it is even more important to adopt the business success fundamentals.
Here are six tips that will help improve your business:
1. Develop a written and flexible business plan.
Keep it simple, a few pages outlining objectives, strategies, finances, sales and marketing plans.
The Business Enterprise Centre offers a business plan service; sometimes it is valuable to have a professional to help you work on your business future.
You can obtain a Business Plan Template by contacting firstname.lastname@example.org
2. Don’t have an ego and take advice from those that have been there.
It is important to network with other business people so you can bounce ideas off other people doing and facing the same issues that you are.
Don’t have an ego: ask for help.
The SHCCI provides an opportunity to network every third Thursday of the month.
Come along and meet established business people and learn from their experiences.
3. Track everything.
Create written systems for everything, because you will reap benefits from them later on.
Use the data to assist in making changes.
4. Delegate to employees and avoid micromanaging them.
A manager's job is to delegate and then inspect progress. Don’t over manage.
5. Use the Internet.
It is incredibly powerful and very cost efficient, but it takes time and some skill.
You need to get on the train and do it, because your competitors are.
6. Reinvent your business.
Separate yourself from your history and create a new competitive advantage, be it a focused niche or super service.
We need to keep changing with the consumer environment. Don’t wait do it now.
Above all, have fun.
- For more information on this and other business issues contact the SHCCI on 0477012151. Or go to the website at www.shchamber.com.au/. The chamber is also on Facebook and Twitter.