Managing a business in a hassle-free way might sound like a contradiction. If you want to be free from hassle then don’t start a business. Better do something else.
Most people with experience in running a business would say that it’s a tough experience. Even a small enterprise would mean a lot of responsibilities that can be too much for some and that’s why not everyone is cutout to be run a business.
Managing your own firm or store can be overwhelming for someone who is not organized or someone who does not have a clear cut plan on how to go about with things. Poor management and lack of plans belong to the top reasons why businesses fail.
The good news is that while running into hassles is inevitable, there are ways that you avoid some of the common problems encountered in managing an enterprise.
If you want to learn how you can manage your business with a minimum of hassle, then here are a few ideas that should put you on the right track:
1. Don’t Make a Move without a Plan
One of the most common causes why businesses fail is because of lack of planning. There are so many things that can happen when running a business and you have to be ready for those. You need to have a plan on what you would do in case something goes wrong.
But a plan is not only something that you need for bigger projects. Plans are also needed for the day to day operations of a business.
Without a plan a business operation can be inefficient, costly and could eventually lead to the failure of the venture, which is why you need to come up with a business plan.
A business plan should have the following components:
- Business vision and goals.
- The need for personnel and how to provide for it.
- Possible problems that can be encountered and how to counter those.
- Issues with finance.
- Competition analysis.
- How to manage company growth.
- Marketing and promotion.
On top of the advantages of having a detailed business plan can give you that we have mentioned, sometimes banks ask for a business plan before approving a loan.
2. Want to Make Things Flow Smoothly? Then Streamline Your System
A system is a set of procedures by which something is done accordingly. When you have a system in your business it means employees should be following the order by which something is performed.
If you are running a business and you do not have a system for the different things that need to be done in its daily operations, you would end up being beset by hassles and problems.
If you are running a store for example, you MUST have an inventory management system. It does not matter whether you sell online, retail, or wholesale, an inventory management system should help you to avoid costly errors.
Even if your business is not a store, you would still need a system for it to avoid waste and to make things more efficient.
3. Don’t Keep Things to Yourself!
What do we mean by this? It means that you have to involve other people in how your business is run.
Unless you are a one-man operation you have to involve the other people in your business with how you run things. First of all, you need to tell your employees what your business goals are. They would not be able to work on achieving those goals if they are not aware of them in the first place.
You should also learn to delegate tasks. Let your employees take ownership of the tasks. Assign things to them and make realise that they are fully responsible for those.
Remember that as your business grows, there would be more things to do. The day to day operations is going to be more complex and you cannot do everything on your own. You have to learn how to trust your employees.
4. Consider the Outsourcing Option
As your business operations expand, everything is bound to become more and more complex. Tasks that required only a single person before would soon require two or even more personnel.
There are different ways that you can deal with expansion.
First way to deal with business expansion is by making your current employees take on more responsibilities and tasks. The problem with this way is that it is not for the long term.
Another way of dealing with an expanding business is by hiring more people and this is the most common way to go. The problem with hiring more people is that it can be very costly.
There is another option that you can use when dealing with business expansion and that is to outsource. Outsourcing is the practice of getting other firms to handle certain tasks that would normally be handled by a business.
Outsourcing has several advantages:
- Increases efficiency
- Saves you money
- Gets you start projects immediately
- Allows you to focus on the most important tasks
Outsourcing has become a lot more common today. This would allow you to focus on the tasks that would actually make money for your company.
Some of the services that you can outsource include:
- Administrative support
- Accounting and bookkeeping
- Online support for your business (Web development, Social media mgt, content marketing)
- Laundry of Uniforms and Linen
- Cleaning and Washroom Maintenance
While all of these are important aspects of running a small business, they can take up too much of your time. Outsourcing these processes would not allow you to concentrate on more crucial revenue generating activities, but also ensure that you will get better services.
There are companies, like Alsco, who provides fully-managed washroom services. Outsourcing the cleaning and maintenance of washrooms will ensure that the employees and customers will always have a well maintained washroom at their disposal.
5. Support Software: Get the Best That Your Money Can Buy
We’re in the middle of the computer age and you have to take advantage of it in running your business. Using computers will allow you to finish tasks a lot more quickly and more efficiently. There are several types of support software that you can use for your business.