FaceYourDreams, SME Tips

Business, SME Banking

SME Tips: Key Things Your Business Needs As You #FaceYourDreams

13 Nov , 2016  

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FaceYourDreams, SME Tips

Every minute you spend in planning saves 10 minutes in execution; this gives you a 1,000 percent Return on Energy! ~ Brian Tracy

Often business owners think about delegating responsibilities, improving leadership skills, and accessing finances to allow for growth. These are key aspects to building your business and planning for growth. However, creating and implementing systems is just as important.

Start thinking about operations systems from day one to prepare your business for growth. Running a small business can often leave you juggling different responsibilities and tasks, which can lead you to work based on instinct and the need to do one thing after another. Therefore, it’s important to document the steps and procedures of your business right from the beginning.

  • Take time to write down the steps involved in your day to day activities and in any of your partners or staff members’ activities. “It is always easier to edit and delete than try to fill in the blanks.”  
  • Create procedures on how certain activities in your organisation are carried out. Especially for the repetitive day-to-day business, so as to allow for continuity at all times, even in your absence.
  • Anticipate problems and create possible solutions. For instance, assume that the  business will experience cash flow issues and implement P&L sheets; do some forecasting for your small business; set targets and achieve them; and speak to your bank as you plan your growth.
  • Involve your partners and employees in documenting, recording and implementing your systems. This will ensure that everyone is on the same page from the get-go and will additionally create a system for those coming into your business as it continues to grow.

Let’s connect and share with each other our dreams. It’s said that when a dream is shared by two or more people, it is usually a vision of things to come. 

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What's your dream for your business?

What are you currently doing to realize that dream and how do you foresee your financial partner enabling you to realize that dream?

 

 

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Always sharing stupendous tidbits. Lifestyle blogger. Sucker for content that builds. Aiming to inspire, impact or influence someone.



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