Do’s and Don’ts in Starting a Small Business

Small scale businesses are easier to set up compared to the middle or large scale businesses that require more time, feasibility reports, adequate financing, logistics and manpower development. Small is beautiful. For a small business enterprise, with careful planning and little resources deployed; success is always guaranteed. However, the law of success must be fully obeyed in order to get the desire result. This law has the do’s and don’ts. Enjoy the benefit of a booming business following the “do’s” and avoid the un-pleasant sanctions from the “don’ts”

Do’s

1. Start a business venture you know more about.

2. Separate business income from personal income

3. Always save and spend less than the income generated.

4. Pay the tithe of your business.

5. Buy when people sell; sell when people buy.

6. Learn and gain more experience from your business.

7. Think before you buy!

8. Make discoveries; find out more about your business.

9. Give more time and attention to your business.

10. Hire the best staff for your business. No sentiments.

DON’TS

1. Don’t personalize your business; solicit staff ideas.

2. Don’t be over worked; create leisure time.

3. Avoid gossip, backbiting, and undue favoritism to staff.

4. Avoid compulsive purchases; plan and budget for the things to buy.

5. Don’t buy, if you only need it for a while; rent it or lease it.

6. Don’t be too bureaucratic in your operations.

7. Don’t abuse business goodwill; pay off creditors.

8. Don’t build castles in the air; don’t spend unearned profit.

9. Don’t kill the chicken that lays the golden egg; encourage growth.

10. Don’t be afraid of competition; be innovative and add more value.

Every business can benefit from the skills of a business manager

Nearly every business can benefit from the skills of a business manager. This will help them achieve success in every venue, making their business take off and grow. Few business owners are actually trained in this area, so often they will hire the help of someone who is, or they may choose to send an employee to a few business management courses. While start-up businesses usually have small budgets, a smart owner will recognize the importance of a professional in this area. In fact, the success rate for businesses that have a trained business manager is much higher than others.
There are many institutions that offer classes on business management. Degrees in this field are available from technical schools, small colleges, and large universities. However, a growing number of individuals are choosing the online school for their management training.
The Internet is a vast resource that is growing daily. And one of the newer discoveries is the online college. Degrees in nearly every subject are obtainable from accredited online schools, and the level of convenience and flexibility that is available by taking courses online is quite attractive to many.
Many well known colleges are also jumping on trend and offering online classes to those who are interested. Online education is expected to experience rapid growth over the next few years, and employers recognize the validity of degrees obtained in this manner, especially from the accredited schools.
Someone interested in becoming a business manager will need a degree to get their career started. And even if they already have a job, a family, or other commitments requiring a lot of their time, they can now take classes online, whenever their schedule permits.
The available jobs on the market for this field are growing almost daily. This is a field that is ever-changing, and educated professionals are needed to manage businesses efficiently.