Two of the key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Starting a business is one of the most challenging endeavors one can attempt. There are certain keys to consider when starting business. The following contributed post is thus entitled, The Small Business Advice You Need.
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Resources for small business owners, leaders, and management can help them to continue to grow their businesses. Many small businesses start with a burst of creativity and commitment, but as the reality of running an SME sets in growth can plateau because owners get overwhelmed by day-to-day issues.
Many of these issues center around developing a coherent business strategy. How, for example, does a small business owner develop a credible business plan needed to access finance or loans? What responsibilities does an owner have towards staff? How does a small firm attract and retain the right people? How do SMEs cope with local skills gaps? How does a small company get access to the latest SME news to keep abreast of world developments and plan accordingly? How can efficient data management and analysis benefit companies? How does a business develop and market new products or services? What are the advantages of running promotional events? How does an SME compete in world markets? How does a small firm take advantage of the UK government apprenticeship scheme? Many business owners are not business experts, they are passionate about the product or service they provide, but many lack the knowledge or skills in management and running an SME. They need small business resources to give them tips and advice that can support them and are actionable. They need information to be in easily accessible formats made by knowledgeable stakeholders such as key government members, world business leaders, and business associations.
Learning from others
It is always good to look at how others have become successful and learn from their stories. There are many entrepreneurs that small business owners can look up to and perhaps even try to emulate. Perhaps the most well-known of them all is Sir Richard Branson. He knows exactly how to be successful in business, having built up the Virgin empire from nothing. He has bought and sold a number of companies and always seems ultimately to do well – he is renowned for his business expertise. But there are other business owners who are just as intrepid and just as good at business, even if the names might be either surprising or unknown. Justin Matthew is the owner of JMH Consulting Ltd, and is a social media pioneer – he is another successful businessman. Pete Cashmore also ranks as one of the UK’s most successful business owners. He owns and runs Mashable, a multimedia and entertainment platform. Then there is Saul Klein, founder of LocalGlobe which is a British venture capital company. And what about Michael Acton Smith who is the founder of Mind Candy, a children’s entertainment company that created Moshi Monsters? The one thing all of these people undoubtedly have in common is that they will have asked for small business advice when they needed it. Why don’t you do the same?
Sourcing effective resources
With the increase in SMEs has come a huge increase in the availability of best small business resources. But how do I as an SME owner, leader or management source the best of the available advice and tips? Are there any signs I can look for when reviewing their services?
The short answer is ‘yes’, but that’s hardly helpful! Within the business community, there is the will and motivation to help small firms to grow and reach their full potential. Whether this is for selfish reasons, for example increasing the available local supply of products or services that a big company needs, or purely philanthropic is open to some debate. However, there are some features you can look for to indicate you are getting the best advice service. Consider the format that information is presented in. Do you want a long article with a high powered author, using all the latest jargon or do you prefer having the latest SME news and other relevant information presented in bite-sized pieces in videos, interviews, and articles. Would a searchable resource be useful so you can go straight to that information about staff pensions or data analysis you need rather than going through mountains of irrelevant information. Do you need small business resources that quickly, simply and authoritatively tell you what you need to know for example about alternative funding such as equity investment or other finance options, presented by a key government member? Do you prefer an engaging, collaborative approach? Maybe you need annual report due dates or something specific? By asking yourself these questions, you will be able to narrow down your search for information successfully.
Finding the small business advice you need does not have to be difficult. Use the above details for inspiration!