Small Business Management
For the Internet Entrepreneur
Way back when, when people went into business, they usually made an effort to learn about small business management. It seems that these relevant functions have got lost somewhere in mix in the internet revolution.
Even if you are running a one-man show, the basic functions of management still apply.
Function #1: Planning
All successful businesses begin with research and planning. Without a plan, you will get distracted and end up spending your energy stopping out fires rather that focusing on growing your business. The process of planning includes getting all of your small business ideas out of your head and onto paper. It also includes setting goals and projecting income, expenses and cash flow. A written business plan will keep you focused on your ultimate goals as well as lining out your expectations.
Function #2: Organizing
Organizing includes the process of setting objectives and lining up the small business resources to reach those objectives. Objectives are usually short-term activities that will lead to fulfillment of your goal.
Function #3: Leading
Leading is basically making it all happen. If you have a staff, this phase of business management is rather complicated; however, if you don’t have a staff, the focus is on you, your small business marketing and of course, customer service. You have to motivated, dedicated and persistent in order to make it in an online business.
Function #4: Controlling
Controlling is the process of comparing your results to your expectations. Most times, this process ends in re-planning. It gives the opportunity to evaluate your original plan and improve it based on the results.
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