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    Project Management

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    • Small Business Management

    Small Business Management

    • Posted by Hany Ismail, MSC, PMP
    • Categories Project Management
    • Date December 22, 2012
    • Comments 2 comments

    small business management is important for any business to success, there are management software which could help you a lot and change your way of thinking.

    business project management needs to be managed same as large business but in my opinion the small business is harder to manage because you will have limited resources and budget. I will guide you in this topic and i will tell you the effective methods, steps and project management software to have a successful business.


     

    small business
    small business

    I will not tell you a complicated theories  of small business management but i will try to be practical and give you ideas and solutions and  free template management software to start or enhance your own business. Mainly to have a successful  business project management you need to plan before you start.


    Before you start your small business:

    before starting your business you should do a very simple feasibility study to check if your small business will result a profit and what is the capital amount of money you need to investment . See the free business project management management template i prepared for you. Feasibility Study Template for Small Business Management (see figure below) i divided the project into two phases, Construction Phase which you will be preparing the office and decoration and so or and mainly this phase without any income to you then the project running phase which will include some income and profit.  it is clear that we need to spend 1500 $ in the first month of our project and 1750 $ in the second month and 4850 $ in the third month without any income. which mean you need to have in your pocket a 8100 $ as a capital money ready to be investment to start this project. and the project will not result a profit until month no. 6 . in the month number 7 you will start getting profit and as per our feasibility study the project will reach a 19,200 $ profit by the month no. 10 after deducting all out cash and this statement called cash flow.

    download small business project management template:

    feasibility-study-template


     

    Feasibility Study Template for Small Business Management
    Feasibility Study Template for Small Business Management

     


    – Ready to start what is next:

    The most important thing in my opinion to commence a small business is to choose something you like, not necessarily the most potential income business is the most successful one. just try to be different and produce a product to the market which you feel that you are proud of it. start searching for your potential competitors before you start and make your plan to be really different. may be in very simple things like a small gifts or free home delivery or establish a website showing all your products.

    grow-business
    grow-business

    Choose carefully your employers and give them the spirit of team work and sharing profits, remember small business management relay on employers performance and considered a very important factor of your success.

    Keep improving your small business and evaluate your business from the customer point of view. best ways of marketing when a customer recommend you to another .

    At the end of my topic i wish that i produced i useful information for you. Thanks.

     

     

     

     


     

    Tag:business management software, business project management, free small business management software, inventory management software small business, small business, small business inventory management software, Small Business Management, small business management software, small business project management software

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    Hany Ismail, MSC, PMP
    Hany Ismail, MSC, PMP

    Hany Ismael is the founder and CEO of Planning Engineer Est. in Egypt. He has started his career back in 2003 as a site engineer, technical office engineer, planning engineer, planning manager, and finally planning department manager where he has been involved in several mega construction projects in Egypt and Saudi Arabia. In 2016, he established his own company in Egypt “Planning Engineer Est.” Hany gained his MSc degree in project management from Liverpool University-UK 2013-2016, PMP certified from PMI-USA 2010, and BSc Civil Engineer Tanta University-Egypt 2003. Hany provided more than 3,500 hours of planning and project management training on his website planningengineer.net, YouTube channel, and offline courses since 2011. He enjoys teaching project management in simple and practical way, and he developed several planning tools, techniques and courses.

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      2 Comments

    1. blank
      Hasan Jlelaty
      December 23, 2012
      Log in to Reply

      thank you

    2. blank
      Shoaib
      September 28, 2016
      Log in to Reply

      Good template and great work.

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