The Need for Small Business Training Contrary to what you might think as a business owner, small business training is a critical aspect for small business success. An effective small business training program helps you to attract and retain high-performing employees, which reduces recruitment cost. But more importantly, small business training avoids other even more acute operational, sales and sometimes client losses. Since small business have a relatively small workforce, they are more distressed by the departure of a key person. Furthermore, Small Business Training builds staff loyalty and stimulates creative, proactive thinking. With proper small business training employees grow professionally, become happier and are
Small Business HR Issues Today Whether you are starting a small business or running one, Human Resources impacts everything your company does. Sadly, Small Business Owners tend to ignore Human Resources matters when things go well. However, doing so is unwise, with serious consequences for your small business. You must master the Small Business HR issues to be a successful Small Business Owner. Today, more than ever, you as a Small Business Owner must recognize the fact that your employees have rights and requirements. Failing to address these can result in hefty fines and/or legal fees. Furthermore, not addressing Small Business HR issues lowers productivity,
What is Wellness? Your wellness is simply the condition of your physical and mental health. Furthermore, it is the result of all your lifestyle choices and the actions you take (or lack thereof) to be healthier. Wellness has several dimensions including emotional, environmental, financial, intellectual, occupational, physical, social and spiritual wellness. In other words, it is how healthy and happy you are with all aspects of your life. A Successful small business wellness program addresses and improves these wellness dimensions for everyone within the organization. To read more about small business owner well-being – click here What is the Purpose of a Workplace Wellness Program?
About Small Business Owner Development Small business owner development is essential for small business success. Many small businesses fail due to lack in the business savvy and leadership skills of their owners. That includes areas such as strategic planning, organizational structuring, marketing, selling, finance, accounting, human resources and production. Without business know-how and the ability to spread risk across several managers and/or high-level employees, you make your small business vulnerable and noncompetitive. Successful small business entrepreneurs do research and learn. Besides this, they reach out to small business coaches, mentors and consultants to help develop their skills in running, improving, growing and expanding their small businesses.
Do you have what it takes to be a small business owner? As a small business owner, you must fulfill many roles, which continuously change between entrepreneurial, decision making, informative and interpersonal. You must also wear many hats, including being the business strategist, marketing expert, sales person, product/service specialist, bookkeeper and human resources specialist. There are specific characteristics of a successful small business owner that make this possible. You need the right attitude and personality. It also takes perseverance and a strong character. It is unlikely that you possess all the individual characteristics and attributes required to be a successful small business owner. Therefore, surround
By nature, you as a small-business owner are optimistic. This means that you may not be detecting the signs that your business is failing. You should be vigilant and realize that the odds of small business success are stacked against you. Every small business goes through turbulent times. However, you need to identify the symptoms of business failure before it is too late. Fortunately, the danger signs that your business is failing regularly show up long before your small business is in serious trouble. This provides you as a small business owner sufficient time to act and remedy the situation. The 10 Signs that Your
As a small business owner, you face many challenges and pitfalls today. Sadly, many small business owners do not know that small business failure is imminent until it is too late. The important question is: Why Do Small Businesses Fail? By knowing the main causes a small business fails, you can be prepared and avoid these pitfalls. Starting a small business is always a risky venture for the entrepreneur. Regardless of the type of business, I believe that small businesses fail because they fail to plan. With no business plan, succession plan, or exit plan, you are destined to have significant problems in running, funding and
“You can’t manage what you don’t measure, and what you don’t manage doesn’t get done.” – Peter F. Drucker Small Business Success Requires Small Business Performance Measurement Small Business Success requires owners to continuously evaluate business performance and take corrective actions. Sadly, with several small business owners that I have worked with, that is not the case. In some cases, small business owners worked in their business for a very long time but cannot afford to retire. In general, they perceived that the value of their business is more that it can sell for. Performance measurement helps small business owners to understand how decision-making processes
Developing Key Performance Indicators Developing Key Performance Indicators Starts at Startup The developing of key performance indicators should starts before your small business is in business. You will gain valuable insights into planning and documenting your business venture by doing it on the frontend. Developing key performance indicators (KPIs) and measuring business performance in your small business should not be complicated. Your key performance indicators (KPIs) depend on your strategic goals, business complexity and the nature of the operations. Read our blog Where Performance Measurement Fits Into a Small Business Start by measuring only those things that are important/critical for your small business success. You