If you’ve ever wondered how your business can ever succeed in a fast changing world, where consumer preferences change almost daily, new competitors are continuous, there is new technology at every turn and new suppliers coming at us from all directions, then the solution is project management.
Let’s say you build a business, have a regular income and are successful. You get sick. What happens? For many small Business growth management, it’s the end of the business because they are operating a one, 5 or two person operation, each individual doing a very specialized job. The end – it’s over – the business can’t survive.
That is not to say that I don’t hire additional workers. I am not going to get rid of business over staffing difficulties. Additional employees have to have a benefit directly to me. not the macro economy of the U.S.. It’s a fact that small businesses hire the majority of American workers. It is also true that small companies jettison the most workers because most small businesses fail. The terrific thing about the United States is that failing is no barrier to trying again. Small business people get up, analyze why they failed and open a new organization.
Growth of anything should stimulate growth in technique. Small business demands management of specific quality. Large business requires management of a high quality. What keeps small business small, is poor direction. If you apply Small Business Management to a large business it becomes small again.
Small businesses are prone to bureaucracy, stultifying processes and internal politics just as much as large companies. However, the lesser size of the business makes the failings much less complicated to recognize and to cure. However, no home-based business, whatever the sizes, is ever fault-free. But honing your Business Management skills along the lines of IT BECAME FAST will see your company moving in the right direction.
Purchase a franchise. This can work, providing it’s not among the affordable franchises such as lawn mowing or dog grooming. With these you can work long hours and still not return a good wage. In essence you buy a job! It requires nerves of steel to borrow huge sums of money to buy a franchise! It’s quite difficult to find reliable statistics for franchise failure. That’s because many of them are assembled by companies selling franchises! One seemingly reliable report indicates that for Franchises began in 1992, 50 percent were still operating after 4 years and just 30% after 10 years. This seems about right to me. How many folks do you know who have invested heavily in a franchise only to lose their house or end up bankrupt?
Let me tell you a secret, those motives appear good in business articles and in direction magazines, a lot because they sound good and they are rather fancy direction terms analysts like to use. These Business investigation and senior managers love those terms so much they keep using it in their jargon, so much so,until the small business owner feels inept,under educated and would like to run and hide on it is first crippling fear that his business is not good, and that he’s a dreamer and has no business setting a business of his own.
Just like the business management skills necessary for IT BECAME FAST (and other factors, like serving the right market), the closer you get to the perfect, the higher profits and growth will become.
