Small Business in a Big World

June 13, 2011

What You Need to Know About Business Process Management

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In a world that is increasingly aware of the importance of being the top choice for clients, businesses look to different trends available on the market to be better. Business Process Management (BPM) looks to be a promising approach for business of all sizes. This management approach is a combination of effectiveness and efficiency with the help of innovative technology. For every company or organization, there is a goal and the achievement of that goal relies heavily on business processes.  The reason BPMs are gaining popularity is that with a relatively low-cost, businesses have a lot to gain such as efficiency in processes, increased productivity, control and cost savings. (more…)

October 28, 2010

7 Winning Strategies to Beat Your Competition

[tweetmeme source=”LilBizBigWorld” only_single=false] Operating a small business nowadays can be tough. Even if you have found a niche, chances are, there are others who beat you to it. If not, then once you’ve set up your business and it is going ever so smoothly, there are other companies who pop up offering the same products or services. (more…)

September 22, 2009

Projecting Small Business Income

Filed under: Uncategorized — itbiznez @ 5:16 am
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Financial target is one of the crucial decisions when starting a small business. This target should be the basis of your plans and decision making. This is the amount of money that you would like to make. Declaring a financial target is as easy as betting for a lottery ticket but hitting the target is a hundredfold difficult than that. You should think beyond selling the goods and earning from it because you also need to pay for your business obligations. Not all money that came in will go directly to your pocket as you still need to spend some part of it for the business overhead. All you need to have is to understand your financials, you must study the in and out of money and equipped yourself well to make sure that your financial status is well monitored. You have to find the right path towards your financial target as well as to earn enough money to keep your business running.

Understanding your financials should include analyzing and knowing how much money you bring in. Organize a good bookkeeping system so that you can figure out how much you make. You must be willing to invest on your bookkeeping system so that you will be aware how much money your business is earning. Once you have determined how much money your business brings in, you will need to determine how much do you spend. Subtract your expenses from your income and the result is your personal income. This personal income should not end up with you partying over it. As a business owner, you know that you will need this money to keep your business running for another round of fight. The process should repeat until you have increase the income to supply for your future investment and food for your table. A constant repetition of process will help your income grow as well as the value of your business.

July 27, 2009

Always Work For Your Goals

Filed under: small business — itbiznez @ 10:59 am
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The competition for business is hotting up. The advances in new technology, ease of communication, and increasing expectations from customers have combined to make the marketplace more competitive than ever.

In this world it is critical for small and medium businesses to be proactive about creating their future. Without proactivity, things just seem to ”happen” without your control.

A management system that is centered around goals is one tool that the business can use to craft its future. This is a system of deciding what you are going to do everyday based on the goals you are working toward. So seize the day and work for your goals.

July 23, 2009

Moonlight Until You Find Something That Works

Filed under: small business — itbiznez @ 8:38 am
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Well, I found this really interesting title above from this post – Building a Start Up from Scratch. It is actually one of the tips that the author quoted on her post. Check it out below.

Step 1: Moonlight Until You Find Something That Works

Step 2:  Tweak, Tweak, Tweak

Step 3: Go Full Time

Step 4: Get Free Help

Step 5: Hire Part Time Help

Step 6: Hire Full Time Help

Step 7: Figure Out Your Job Description

What I learned from step #1 is very important. It states something that an entrepreneur must learn — Do not be afraid to take the risk and try something new.

Did I got it right — Moonlight Until You Find Something That Works? Well, I think so. 😉

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