iDex7

Using Your Management Skills to Get the Core Business Management Basics Right

Running a Business can and should be a fun way to make a living, and it often is when you start out.Make sure you get the business basics right.

But eventually it becomes more and more complex until a good nights sleep is only a vague memory.

When this happens it isn’t long before going to work in the mornings is the thing you dread the most.

And once you add that to the stress and strain of managing your business in times of tight credit and low sales, then all to soon your business building dream really is a nightmare

And what was once a real pleasure is now a burden?

The main problem is neglect of the core business basics, the administrative engine that runs your business.

You see, most new business owners quickly forget that the core business basics; the hiring of employees, the development of products, caring for customers, collecting payments and paying bills, are the core administrative functions of the business.

These are 85% of your business and you have to set them up properly, or the other 15% of business functions will either never happen or become meaningless.

Never neglect the core business functions, for if they run smoothly you will enjoy running your business and sleep soundly.

So, what are the core business basics you should always focus on ...

• Remember your people are your business; get them working with you and not just for you.
• Care for your customers, treat them the way you did when you first tried to win their business.
• Remember Cash is and always will be King. Look after every penny; only spend when you have to.
• Owing money leads to worries. Pay debts on time, it's worth money in the bank when you need it.
• You are not your customers banker. Do not extend credit to bad payers.
• Learn to only buy what your business needs, not what you want for it.
• Always ask, "Will this make money for the business?" If not, don’t do it.
• Never fixate on the competition; competitors don't improve your business, customer care does.

Finally, focus on the other 15%. This is what makes your business different, what makes your customers want to do business with you and why you enjoy your business. Get the core business basics right and you'll have more time for that 15%.