So you have decided to start your own business! Congratulations!
Creating a business plan is a must for all new start-ups. There are several options for completing a business plan from simple to very complex. The latter are reserved for start-ups that intend to seek funding from a financial institution.
Why a business plan?
According to a Bloomberg report, 8 out of 10 start-up businesses will fail. Don't get discouraged. One of the primary reasons for failure is the owner is not planning, and thinking about how to make their business successful. Failing to consider pricing structure and reviewing the competition is another reason for failure.
Writing a business plan will help you plan your business, develop a profitable pricing structure, and identify the challenges you will have to overcome to make your business successful. If you are just getting started, or considering a start-up business, then this quick start up business plan is for you and it will greatly increase your chances for success to become 2 out of 10 that are successful!!!
Click play to listen to this 3 minute podcast. A transcript can be downloaded below the audio file.
Ever had a great idea when you were in the middle of something? Heard something important that you wanted to remember for later? Maybe you remember an important task you need to complete the next day just before you drift off to sleep?
Although mobile technology provides some great tools to capture notes, ideas, thoughts and other important information, it is not always the best for use on the run. Often great ideas may strike you in a situation where pulling out the tablet or cell phone may be considered rude, or trying to the find the app on your phone then typing on the tiny keyboard takes too long.
A client once showed me all the great reports her new software module could produce. It was amazing. After showing me all of the wonderful data crunching her software could do I asked, "Which reports do you use and what do they tell you?" She hesitated, "Uh, well, I don't really use them." Her cost for the module? $2,200 a year. Money wasted:-(
Technology in the workplace can be a great addition. Unfortunately, technology in the workplace can be a negative impediment if you do not plan and implement appropriately.
Following are some tips when looking in to implementing technology into your workplace:
1. Decide what you need - There are a lot of technology solutions available for a variety of business purposes. it is important that you identify specifically what you need your technology to do for you. Write down what you need on a piece of paper...low-tech approach but it can save you money.
2. "Bells & Whistles" - these can be noisy and distracting. When viewing technology, whether it is software or a techno-gadget, focus on your basic needs. Often the bells & whistles turn into distractions, or create additional tasks that you or your employees will have to complete for little return. It is easy to be distracted by the neatest gadget that is purported to simplify your work, when in reality it complicates it. Refer back to your list in number one above.
3. Simpler is often better! - the simpler the device or software package the easier it will be to train existing and new personnel. You should not reduce your list of needs, but consider the basic functioning that is needed to best fit your average employee. Many call this "user-friendly" and you will call it "easy" in the long run.
If you have more than a few employees chances are you will receive complaints from time-to-time. Customers, and employees are not always happy with each other. Your organization needs to establish procedures for handling complaints.
Establishing an investigative procedure and carrying out investigations when complaints are received provides several benefits:
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