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…)

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October 19, 2010

5 Outrageous Frauds Entrepreneurs Should Know About

[tweetmeme source=”LilBizBigWorld” only_single=false] Entrepreneurs should be wary about different fraudulent practices aimed at small businesses. Prevention is better than cure and the best way to prevent fraud is to know how it is being done and who usually does it.

1. Just last August, news broke about an employee who stole $60,000 from her employer which almost caused the business to close down. This is one of the most common fraudulent practices done and most of the time, it’s an inside job.

2. Firms making false claims about the SBA loans. These firms charge the entrepreneur for processing the documents, sometimes “ensuring” that their applications for the said loan would be approved.

3. Photocopier fraud. There are photocopier machines that save data on its hard drive. When you sell the machine and you forgot to delete all images stored on the hard drive, there’s a possibility that those images would be accessed and it would ultimately result in data protection breach.

4. Check tampering and fraudulent billing. These are perpetuated by those who have access on cash receipts and cash disbursements. Internal controls should always be enforced, no matter how much you trust your employees otherwise, it may mean disaster for your small business.

5. Financial Statement Fraud. According to the article Small Businesses Suffer From Company Fraud, this is the most costly with a median loss of $2 million.

Small businesses have a high risk of being victimized by fraudulent activities. Because of this fact, entrepreneurs should have a high regard for the safety of their data. Otherwise, all the hard work you’ve put in would be put to waste if your business goes under due to fraud.

October 13, 2010

Empowering Women Entrepreneurs: 5 Facts About Women’s Procurement Program

[tweetmeme source=”LilBizBigWorld” only_single=false] In recent news, a final ruling had been released regarding the implementation of the Women’s Procurement Program. The goal of said program is for women-owned businesses to obtain federal contracts. The passing of this legislation would undoubtedly bring about improvements in the previously underrepresented status of women in the business industry. (more…)

September 28, 2010

Common Misconceptions About Small Business Branding

[tweetmeme source=”LilBizBigWorld” only_single=false] There’s no doubt in the minds of business owners that branding is important. How can it not be so? Every blog site which offers small business help has discussed the importance of it at least once in their posts. So it would be a moot point for me to reiterate its importance. What I will do however is provide you with some of the common misconceptions about small business branding. (more…)

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.

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