How to Create a Successful Small Business Organization.

UPDATE

5 Ways to Maximize Small Business Cash Flow.

In these tough days here are 5 tips to keep the money flowing.

  1. Provide business services virtually

If you own a gym or fitness studio, you can offer personal training sessions via video chat. Or, you can use services like Zoom to live-stream your fitness classes to loyal customers.

If you run a professional services firm (i.e., consulting, accounting, or law firm), you can leverage email, phone, and video conferencing to continue to provide services to your clients. Your clients may need your support now more than ever. 

  1. Offer curbside pickup and delivery services

Retailers and restaurants have also been hard-hit by the lockdown restrictions and social distancing requirements. If you have a corresponding e-commerce site or online delivery platform, making the transition to offering pickup and delivery only should not be too difficult. If you don’t have these services in place, you can promote that you offer these services at your business now by emailing your customer list and promoting on your social media channels, take orders by email or phone.

  1. Stay in touch with your customers

If you have collected customer email addresses in the past, now is the time to use them. If you have figured out a way to offer your services virtually or via pickup/delivery, email your customers and contacts to promote your new offerings.

If you have had to temporarily shut down, consider emailing your list promoting gift cards to your business with no expiration date.

Additionally, if you have company social media channels, promote your new service offerings or gift cards to your followers.  You should also continue posting regularly during this time, even if you are closed, to stay top of mind with your customers. This can help you keep your customers engaged with your brand even though they cannot visit your physical business location.

  1. Work with your landlord, vendors, and suppliers

You should also look at your liabilities, such as your accounts payable, to see where you can ease the cash flow crunch.

For example, many businesses likely work with a few suppliers and vendors where they regularly purchase their inventory and other supplies. Reach out to your vendors and see if you can extend your usual payment terms, or if your vendor can offer a temporary payment grace period.

Introduction

Many small businesses start with no plan, or only a vague idea of what the business should look like.

Usually the entrepreneur starts with what they know. Probably the product or service they hope to provide. Because they know this area, it seems a logical place to start.

But it is not!

Go here to find out the problems a business can face.

Topics to be covered.

 Simple Organization of a business.

  • Sales & Marketing:
  • Operations
  • Financial and Admin

The Business Plan.

  • Organizational Structure
  • The Management Team
  • Board of Directors
  • Support Professionals

Management of Organization.

Finance.

  • Debt Management

For more details read this article.

Regulations

Marketing Effort

Plan your organization before you start a business.

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 Simple Organization of a business.

Any business will have a standard organization as a basis, then it will be developed and amended as their particular market demands.

The basic elements of any business are:

  • Sales and marketing–every business needs to generate sales
  • Operations–every business needs to fulfill on the promises it makes to customers by delivering products or services
  • Financial and Admin–every business needs to keep track of its finances and ensure that its infrastructure is maintained.

Under these main headings there can be many other sections. For example, here is a list of some of the most common roles that you can adapt to your company’s structure:

Check this out.

Sales & Marketing:

  • Website maintenance
  • Online Marketing
  • PR
  • Lead Generation
  • Opportunity Management
  • Account management

Operations

  • Production
  • Customer Service
  • Shipping and Fulfillment
  • Product Development

Financial and Admin

  • Bookkeeping
  • Accounting
  • Office Management
  • IT
  • HR
  • Financing

For more details on finance read this article

Having problems with credit? Been refused? Try our new offering by clicking here.

 The Business Plan.

Organization and Management Section

This section of your business plan covers two principal areas:

  • The organization, or how your business is structured, and the people involved
  • The management team, or details about what your team brings to the business

Within these sections, you have specific areas to cover about how your business is structured and who’s involved.

In the section’s opening, you want to summarize your management team, including size, composition, and years’ experience (i.e. our management team of five has over 20 years of experience in the widget industry.)

Organizational Structure

The organization section sets up the hierarchy of the people involved in your business. It is often set up in a chart form. If you have a partnership or multi-member LLC, this is where you show who is president or CEO, the CFO, director of marketing, and any other roles you have in your business.

If you’re a single-person home business, this becomes easy as you’re the only one on the chart.

The Management Team

This section highlights what you and the others involved in the running of your business brings to the table. This not only includes owners and managers but also your board of directors (if you have one) and support professionals. Start by indicating your business structure (i.e. partnership or LLC) and then list the team members.

Board of Directors

A board of directors is another part of your management team. If you don’t have a board of directors, you don’t need this information. But even a one-person business could benefit from a small group of other business owners. Who might provide you with the feedback, support, and accountability that comes from an advisory board.

Support Professionals

Especially if you’re seeking funding, let potential investors know you’re on the ball with a lawyer, accountant, and other professionals that are involved in your business. This is the place to list any freelancers or contractors you’re using.

Helpful Tips

Because this section highlights the skills and experience of you and your team. It can be a great resource to refer to when seeking publicity and marketing opportunities. You can refer to it when creating your media kit or pitching for publicity.

Management of Organization.

Initially the owner will probably be the only employee. They will have to do all the tasks associated with the business.

This may be all right to start with but as the business, hopefully, grows. These tasks will be impossible for one person to do. The multitude of tasks may be attempted but eventually the owner will die of exhaustion, the business will fail or at the very least never grow to any size.

So, the owner faces a problem. Does the business produce the income to employ others? Or at least will it do so over the short term.

Secondly, if the owner does nothing, then the business will go under. So, they must do something.

From hiring, on-boarding, HR, running finances, doing marketing, paying bills, and doing their actual work, entrepreneurs and business owners are stretched across many business functions themselves.

Click here for article on solutions to business problems.,

Finance.

To expand by employing more staff or increasing advertising needs money. To get money, the owner will have to get some financial assistance. The first thought will be the bank. But banks are well known for not supporting small business. They only want big business who will pay them sizeable amounts of money. They forget that all big businesses were once small businesses. Unfortunately Bank manager do not have a long term vision, bucks today is what they want.

You may be lucky in having a bank manager who is sympathetic and has the power to give you a loan. So many managers are constrained by higher managers in what they can do so I wouldn’t be too hopeful.

For more information on finance and debt, go here.

Debt Management.

 Almost all businesses will go into debt at some time, this is inevitable because situations arise and the cashflow is not meeting the expenses.

Now there are two types of debt, good and bad.

Good debt is used for paying  for items that increase the profitability of the business. for example a new updated façade on a physical store, this will attract new customers so will pay for itself with increased business.

Bad debt is for paying bills and expenses, even other debts. This is a burden and does not help the business to improve in any way. the problem with this  debt is that the debts never get paid off and you are using debt to pay off debt.

Check here for Financial Software for Business.

Regulations

Running any business involves you in lots of red tape. This is just another burden on an overworked small business owner. Who has limited time to deal with this area.

The amount of regulations increase every year with no account taken by the government on the burden this places on a small business. But this work must be done, or the Government will be down on you. Causing you even more hassle in the way of fines and more paperwork.

Marketing Effort

You want to grow your business so you need to advertise. But how? There are so many ways nowadays it is difficult to decide.

Direct, social, online, offline — marketing comes in all shapes and colors. There is a massive opportunity to help businesses tell their story. Learning how marketing has changed. As your business grows, you will need help. You either employ someone to do it or use one of the companies who specialize in marketing.

I would suggest using a company that does this as a business, then you can let them do the hard work and get your new customers.

If you decide that you would rather do it yourself you will need some form of CRM,  see HubSpot.

Plan your organization before you start a business.

As in all ventures, you need to have a plan. Whether in business or home, you need to know where you are going and where you are now. Then you can plot how to get to where you want to be from here.

Without a plan you will stagger along day by day and get yourself in a total mess, plus pile stress on you and your employees and your family.

Now is the time to get to work and make your life easier and happier.

Good luck

 

Looking for help with your marketing? Go here.

Leave any comments and I will get back to you.

 

 

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