Small Business Management

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.

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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.

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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

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– 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.

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.

 

 

 

 

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