If you look for successful small
business owners on the internet, you’re likely to find a hundred different
names and their stories of becoming successful. You’ll find these people and
their stories as different as night and day.
With a solid team and the right
tools, however, soon you will be on your way to reaching your business
potential. To help find success as a small business owner, I’ve compiled this
list of five essential skills that you must keep in mind.
1. Get organized
There is no question that the
work you perform in your business are different than other business owners, but
there is a strong connection in how you execute them. Think about it like
making a grocery list; you get everything you need in one trip. You won’t drive
back and forth for each item. Similarly, you should aim to consolidate your
errands and the tasks of your business. Group similar tasks and aim to
accomplish them on a specific day or at a certain time. For example, instead of
checking your emails constantly throughout the day, answer your emails in the
morning, and once again in the afternoon. By consolidating your tasks and
getting work organized, you will eliminate multi-tasking and can focus on
essential tasks to finish a project.
2. Enable your team with ready
information
To make the right business
decision your team must have all of the information about your market, your
customers, your competitors and your business processes. Putting your team in a
situation where they have to hunt for the required information is not productive
for any kind of a business. It encourages frustration, and lack of accuracy for
your team. In return, they will make a guess rather than hunting down the right
information. Effectively using and managing information is critical to driving
business and streamlining operations in the Big Data era. Think about the kind
of information and the system to provide it to your team on a daily basis for
their routine work. Do they have all the required information at their
fingertips, or do they need to ask the manager and work up the chain to access
it? You might need an online database management system to provide teams with
all kinds of information in real time, ensuring instant data management.
3. Get in the cloud
According to a recent story on
Forbes, 78% of small businesses in developed economies will have fully adopted cloud computing by
2020 ,more than doubling the 37% in 2015, resulting in more databases taking up
residence on the Web. The use of cloud-based applications and software can
significantly improve business efficiency. Give your team members the
possibility to work from anywhere, whether they are at home or are out of the
station on a business tour. When you and your team members can work from any
location, your productivity will increase. Look for ways to shift your business
to a cloud to tap into this always-available work approach. Engage a
professional to make cloud-based software for your business databases. Manage
your sales and inventory in the cloud or web databases. Make it effortless for
your sales team to work on the road, adding live sales figures and updates into
your system.
4. Motivate your team
Being a business owner and an
employer, leadership is a crucial key skill for success. In order to get the
best from your team members, you must motivate and invigorate them. The success
of your business will depend, to a great extent, on the spirit and productivity
of your employees, and it is your responsibility to ensure that they are
getting what they need (morally or monetarily) to perform exceptionally. You
must be prepared and available to know the concerns from your staff.
5. Track performance
It’s essential to set business
goals and objectives for your company, and to be able to measure progress. As a
business owner, you need to establish specific measurements that show your
business performance against the set goal. Measuring and tracking business
performance will identify issues and success factors that will advance the
overall organizational performance. Consider looking at your weekly sales or database
software. Check your performance. Are you retaining customers? Track how your
team performs. Are they hitting deadlines?
Find tools that can help you to track performance within your day-to-day
business.
Source: Lifehack
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