Tips to Run a Successful Small Business - Vol 2

How to Run a Successful small business..? 

we're ready to get started on leaning the process of running a successful small business part 2 but be sure to Read/watch part 1 first if you haven't done that yet.

Now that you've got the right people hired for your small business. "how do you make sure they get started well?". you have to acclimate them to the way you do business. you gotta give them training and resources to help them become successful as individuals.



And when I talk about acclamation you need to introduce them into your business even if somebody has twenty years of skills and experience that fit with what you need them to do even they've been doing it in other work environments other cultures they need to be acclimated to your culture. so you need somebody to hang with them to make sure that they get started correctly until that person that's responsible for acclimating them into your business is comfortable that they're doing at least eighty percent of the stuff on their own. so they need to learn how to do things your way, they need to learn the specific skills, technology systems that you have, that help operate your business. if there are certifications and licenses that are needed they need to be guided through those or to bring them along with them from previous experience.

Learning how to sell for everybody is a great soft skill and we're gonna talk more about that effective communication helps people get things done faster with better understanding, managing time effectively helps people produce more in a given period of time than don't manage their time well and part of that is being well-organized so those things need to be considered.

In addition to help these people be successful as individuals you gotta given them the right tools, the right equipment, the right materials, the right technology that will allow them to do their work and produce the results you expect from them efficiently and effectively and your business needs to be filled with opportunities for your employees there should be opportunities for personal growth so they can get better at what they do and as individuals there needs to be opportunities for contribution.

Reasons for Good employee leaving a business:

The main reason that 'good people leave a business' is because they don't feel they're being allowed to contribute and there's gotta be opportunities for advancement, there's gotta promotions and there's gotta be opportunities for them to earn more money. so once they're hired once you have the right people to begin the process these are all the things that you need to consider and have in place to help them become successful as individuals and contribute greatly to your business success.

Business Structure: 

Okay, 'Structure' is next the interesting thing about all us human beings is that we desire two things that are directly opposed to one another; one is freedom, we want to be free to do things our way to have the opportunity to make decisions that sort of thing and the other is 'structure'.

we all need to know the rules in up the game or the business in which we play. for example, a football field has a structure and rules, a basketball court - has a structure in basketball and has rules, chessboard - in the game chess has a structure and rules, can you imagine driving down an interstate freeway that didn't have any structure - no lane markers no off-ramps.  we need structure and all good businesses have a very well-thought-out well-designed structure so what's included we need clear and complete job descriptions people need to know what's expected of them in their job in and its the specifics of how they're supposed to achieve those expectations. we need clear and complete policies and procedures those things that guide the employees while they're doing their work.

Business needs clear and complete systems

 
Everything needs clear and complete systems: can you imagine taken off an airplane that didn't have a good system for lowering and contracting the landing gear, how about a air circulation system, how about a navigation system that airplane would not be very trustworthy if it didn't have good systems. all good businesses also need good systems there needs to be clear expectations based on results the employees need to know what's expected of them the results that they're supposed to produce and even though there are activities attached to every job to achieve results if an employee wasn't hired to produce results then there's really no need to hire them are there should be measurements that are related to the results and that's very easy in things like athletics for example a 250 hitter achieves a certain level results for 350 hitter does better so you need to have the same type of standards measurements within your business as it relates to the results and if you have the expectations and the standards of measurement setup focused on results then you get objective job reviews. the people know what's expected of them and how they're contributing and whether or not they're doing their work well so make sure that your business is well structured, monitor that structure regularly and improve it whenever it needs to be improved but remember be structured.

okay what else needs to be considered when you're building and growing a successful business how about money the main reason that you should be in business is to make money so you can make payroll, do research and development, take your family contribute to worthwhile causes, contribute in the community money is the main reason. but you also need money from different points of view for example you may need some startup capital you may need some operating capital to you get going in get your income up to where it should be as a matter fact the main reason most businesses fail this they just haven't got enough start-up and operating capital to keep them going until they get into a point of profitability so it that's very important to have.

Cash flow management

Cash flow management: this is the most important system within a business you have to have a great cash flow management system what's come in, what's going out and how are you using.

Risk management 

Risk management ~ you don't want to do things they are going to jeopardize the success your business so you need permits possibly you may need licenses there maybe fees that you have to pay there may be regulations and compliance that you have to follow. yeah I know, it's a big interference in a big hassle but it is what it is so you need to learn about these things and how to take care if your business with in these requirements. you need insurance to protect yourself and your employees and you need to decide what's the best formal structure for your business is it a Corporation is an LLC. you just need to make all these decisions and they need to be made and made well to contribute to the success of your business.

Committed, Engaged Leadership 

Just couple more things and we'll have the complete package everything you need to know to build and grow a successful business. one extremely important ingredient, one of those pieces and parts I talked about is committed engaged leadership. whoever's running the show, whoever's the leader of the business has to be a daily example of what the business is all about and how everybody should behave during the operation at this so gotta have a committed leader that's fully engaged in the process.

Monitoring and Evaluation on a regular basis

There has to be monitoring and evaluation on a regular basis. Are we doing things as good as we can do on? Is there a way to improve them? Do we need to change in a little bit? Do we need to eliminate them? Do we need to add something else continuous monitoring and evaluation and at all should be focused on continuous improvement. how can we get better? how can we deliver what we deliver better? how can we satisfy our customers better? and when you put this entire package together and you've got it done right some magic happens.

I talked about magic happening, once you have your business totally put together everything that we just talked about it's done right and you are operating it well then the magic begins and here's what happens, here's the results that you get you get employees you get customers you get business relationships you know those people that supply you products are offer you services like bankers and accountants and attorneys and vendors and contractors that sort of thing and you get the community all saying great things about you.

have you ever been in a grocery store line and had somebody in front you complaining about the place they work for complaining about some place that they get business that's negative conversation in the community you want positive conversation in the community because it attracts people to you when people say good things about who you are what you do why you do it the way you do it in your employees and your customers in the people that do business within the entire community our fans have what you do employees lineup because they want to work with you customers come to your store because they want to do business with you based on all the good news that they heard other people want to do business with you they want to be suppliers they want to be consultants they want to help you and the entire community is gonna say great things about you so when you get this business built correctly and when you operated correctly you create a conversation in the community that just can't do anything but help your business grow and become successful I'm not talking a little bit more about this entire package in just a minute.

 lot information right well it's all on video so you can replay the video if you want you can pause it take notes but you got everything that you need to know to build grow and operate a successful small business whether you're just getting started or you've got a business that you want to operate more efficiently and more effectively and more profitably it's a lot a lot of information if you're interested I've put all of this information into a very extensive two-day program that I called the small business uprising.

 thank you very much for your time..