Most of the times, a small business’s survival is dependent on its management especially during its first five years. This means that during these first few years you need a lot of assessing and re-assessing of where your business is heading to and most importantly, where you would like it to be in 10 years time. You will realize that your business’s management structure will need a number of revisits and realignments to make sure you are able to meet your business’s objectives and goals.
Implementation of Systems and Processes
As long as you have an employee or employees you will need a system that can account for all their activities in your business. If you have a business that sells mobile phone accessories and devices then you will need to have a small system with details on who handles the counters, who handles the cash and at the end of day how each should account for all the items sold.
This is where you should be handling big decisions in the business and leave the smaller ones to your employees. For instance, if you have a worker whose main role is ensure that all machines are operating normally instead of doing all the check-ups yourself why not leave it to someone else. When your employees feel free to run the business according to the business’s goals it inspires more dedication from them and will in the long run ensure that it succeeds.
Most of the times, employees may end up overstepping their boundaries leaving the whole business’s management looking chaotic. A clear job description clears any ambiguities on everyone’s role. A person who’s on the cashier’s desk should understand that all the money that goes into the drawer is accounted for and can either leave daily reports on the main accountant’s desk or the boss himself. In the event any of the workers do not perform their role as expected then there has to a clear chain of command on who reports to whom.
A Clear Sense of Direction
This means that as the boss you need to be on the driver’s seat where you have a road map on where your business is going and everyone involved understands it. This could also mean you need to share your vision with your workers and know it to a fine detail. Lack of vision has led to a business’s poor performance and in some cases, to a total shutdown.
A business will always need a clear mind especially when it comes to its survival over its first five years. It is easy to get discouraged along the way and even feel like giving up on the business but with dedication it gets easier with time. It may require putting in more resources to ensure it remains afloat even if it seems to give back little or nothing however; failing is not a goal rather a milestone that every business needs to overcome. With the above ideas the milestones could be over sooner than you think.