Small Business Offense & Effective Management
The offense part of this statement is that adrenal rush that small business owners feel when they start their businesses or have some marketing success. Marketing is an important part of growing a business, and I often preach my 40% rule (spend 40% of your time on structured marketing). The secret to a successful growth also requires a structured management system. The management systems that are developed and implemented in a business will also provide opportunities for marketing growth.
A downturn in what appears to have been a business with great potential and brilliant ideas is often the result of not having an overall effective management plan. The foundation for such a plan starts with an understanding of why the company exists, who it serves, what benefits it offers, and what distinguishing features it offers. This information is then combined into a value proposition for the company.
The next step is the effective management design which monitors and evaluates financial and non-financial goals. This is followed by the internal design of systems and procedures for the effective delivery of the products or services along with the necessary communications.
Even in a one or two person organization, there is a need to study and apply an effective management system; unfortunately, entrepreneurs have a tendency to be “doers” rather than managers.
One of my most recommended books is The E Myth written by Michael Gerber. The book is easy to read and presents a very important concept necessary for business survival. Depending upon the stage of your business, a mentor may be needed for its implementation and follow through. For smaller businesses, as an example, for our members at BizQuack we are implementing a structured peer to peer support system as a less expensive method of ongoing accountability.
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