Factors behind success of a small business

For getting success in small business many people think they have to be smart in their business. Smartness does help and positive thinking can make decisions easy. Apart from these two indicators, there are other factors many people just ignore. Let’s discusses them.

successPassion for the business

One should have a deep burning desire to excel. Without it, you will be lacking in enthusiasm. You should have the passion to overcome the setbacks during the journey to excel. One should be motivated even during tough and unexciting times. It is the grit required to last for a long time to come. An entrepreneur depends mostly on passion and his spirit of determination. Your enthusiasm is mostly noted by your associates and customers. If you have a fire in your belly you can carry your businesses to greater heights when others have failed long back.

Listening to your customers

To become an entrepreneur, you will have to listen to what the customer wishes to say. Customers, the base of your business and will tell you what you need to know. Not until you come in their close zone. For coming in the close zone you will have to first initiate a dialogue every now or then. You will have to keep communication lines open. Talk to them about their interests, the weather, politics, stock market, their children, or any other general topic under the sun. Once they start getting familiar with you the will start opening up. During talks, you can casually ask what things they like about the business and what they do not like.

A businessman should remember that he does not overreact to customer complaints at that moment otherwise the customer may stop complaining and you may lose a feedback channel or maybe a customer too. Listen to him patiently, politely assure him that you will look into the matter as soon as possible and do not forget to thank him. This is an indirect opportunity for the businessman to improve the services, introduce new development and make a customer for life. You may get wonderful suggestions which never occurred to you before.

The two qualities discussed above can be done on daily basis. Sometimes new scenarios crop up unexpectedly which one has to deal with. It is challenging for any businessman to develop all the different skills in different fields like management, accounting, marketing, information technology etc. to make the business thrive.

People do overcome few of the challenges that they are exposed to on regular basis.

Businessmen have to see what their employees do and point out every small mistake they do. They should explain clearly that every small detail is important and help them perform better the next time. A businessman should involve himself in all the sub-divisions or section of the business he is in. Working along and building cordial relations with his staff members.

For a business to be successful genuine, vital and real-time feedback is important. It is only feedback when worked on leads to improvement. Customers want that the owners care about their thoughts and feeling and the owner is their collaborator and campaigner. A strong human connection has its share of joy and commitment towards the customer and society at large.

How to manage a bad day at work?

Some days are such that you feel energetic and want to go to work. And sometimes it is just the opposite. You feel so tired that you do not wish to jump out of the bed. Sometimes you are involved in such an activity that you do not want to get involved in. You have to push yourself off your limit to get going.

bad dayYou wake up late in the morning. Have a body ache and feeling tired. The computer does not work as was intended to or in the worst case your data is crashed just at the eleventh hour. Boss is keeping a strict eye and noting all the activities of the staff today. The day seems to be so long and never-ending.

Everyone has those types of days at one point or the other. You may find yourself at fault for whatever wrong is happening. If one notices the entire mentioned situation is out of your control. But you have a way out. Here are the tips on how to handle those “bad day” at work.

  1. Eliminate work-related stress

According to American Psychological Association 65 percent Americans mentioned work as a top source of stress. Only 37 percent were able to manage their stress effectively.

To reduce stress one should ask himself a question: What is important and what is not? Starting with easy and simpler tasks boosts your confidence and establishes a routine of productivity. Create realistic deadlines which you can achieve. If you feel that you are stressed too much or overload of work, better talk to the management.

  1. Communicating with higher-ups

Many bosses pass on their work pressure to their subordinates. Your communicating styles may be different than your higher ups. You need to communicate in their style and manner. There are few communication styles given below.

Analytical – This style needs real numbers and data to put up your side. Avoid unclear or undefined language. Be precise and certain what you are talking about.

Intuitive – This style focuses on the broad outline and no detail description. Be more generalized of your view and end your communication with a solid conclusion.

Functional –   This style has set timelines, details, and processes and is well structured. So be clear and communicate in few words to put your point across.

Personal – In this style, emotional language and value connection are focused on data. Bosses like going deep and find the cause of the problem and expect the same from their subordinate.

You can develop and improve on communication skills that boss likes.

On a bad day at work do not cross lines with your boss. Be punctual, cordial, and keep your communication as brief as possible. For updating your boss best thing is to email instead of directly coming in contact with your boss.

  1. Avoid office politics

On a bad day, office politics and co-workers drama should be avoided as it will affect your productivity. The best thing is to stay out. If you feel tempted or are dragged into the drama remember these few things.

Don’t vent your anger at work. Don’t get passive-aggressive. Explain to your co-worker how their negative behavior is affecting your work and that indirectly affects your job. You can cut down on gossip by clearly declaring that you have a deadline to complete the work at hand.

Everyone faces a bad day at work someday or the other. If you feel too bad it is better to take a day off. Instead of tarnishing your relations with your co-workers and boss at your workplace it is better to avoid it.

How to prepare your small business for the year 2018?

A new year begins and with its beginning, new hope and new aspirations begin. Small business owners use this time to evaluate themselves, their businesses and accomplishments. Based on this they look forward to making changes in their style of functioning.

small business for the year 2018Every small business has its own method of working. It vastly differs person to person. But there are certain common things that run through them and have their own checklist. Some things included in the checklist may be common but certain small and crucial things are overlooked, that may have a bearing on the accomplishment of the goals in this year.

Given below are few things that you can do to grow your small businesses for the New Year 2018.

  1. Keep your accounts up to date

Every entry of your business transaction should be made. This will help you in analysing your expenditure and earning. A week on week or month on month basis.  You may have to devote some time and energy to it but the trouble is worth taking. It would help you in balancing your creditors and debtors in the most efficient way.

Setting aside sufficient money for taxes, rent, raw material purchase, EMI’s, repair and maintenance.  Staff salary, machine, electricity and telephone bills etc. So that you do not get into trouble for arranging finances.

  1. Interact with your team

The year-end should be time for consolidating your position. For many small business owners, most of the day is spent thinking and working on ways to make the business thrive. In this owners miss out on valuable feedback and spending time with their staff.

As days move towards the holiday season, make sure to take some time off and be with your team. You can initiate a group discussion regarding the company’s state of working. In this process, you can gather feedback. See to that every staff should provide an input. It can be negative or positive. The gathered input can come up with better suggestions and new ideas. This makes your team stronger which will help you in long run.

  1. Prepare a list for business growth

Every businessman strives for growth. Be it a small one or a corporate. But only a few of them take the necessary and planned steps for growth. Let you set the stage for growth.

Take a serious look at your business. Write down in details about all the points which are lacking. Is it finance, skilled manpower, short supply of raw materials etc? Now start noting down against each in your list, what all steps can be taken to improve the position. Take few days time to come to conclusion.

  1. Take help of technology

We are in a time where there is constant innovation. For every business, there are new technologies which are aiding or assisting for better production or increase production. Computer and software are finding gaps in production and inventory management etc.

To seamless and undisturbed team communication Slack software can be used. There can be work or file sharing between groups of employees, whose work depends on each other Dropbox is the most suitable for it. Effective marketing is one of the factors that need to focus; buffer is here for this purpose. You can manage and schedule your time properly with the help of a calendar.

Are you Setting Goals or Achieving Goals?

There is a big difference between setting a goal and achieving a goal. Once you learn the magnificent and wonderful powers of goal and try to achieve it then it changes your life phenomenally.

People surrounding you may say that it will be impossible for you to do certain things or achieve certain goals. They may dishearten you degrade your potential and ability to do a lot of things. It all depends on you, whether you want to be successful or failure.

Achieving GoalsSetting a goal is taking the first step though many feel that it is vital. To begin with, the goal which is set should be achievable and realistic. Most people either set too high or too low goal, which is beyond their capacity or undermines their capacity.

The following are some tips for achieving goals:

  1. One should be very clear about his/her goal

Being the first part of the process, one should be very clear exactly what one wants or intends to achieve within a certain time frame. Your goals can be like losing 10 or 15 kg of weight by year end or earning 10% more than what you are presently earning by next year this time or buying a house worth X amount by the end of five years from now etc. One thing to note is that you created an aim and also included the deadline for completing it.

Focus on your goal. Ponder over it. Question yourself – who, where, what, when, how, and why. When you questioned this to yourself about your goal you will automatically get the answers for your aim and objective of your goal. Your goal will be more meaningful and have more clarity.

Once your goals are set your actions, behaviour and approach to things will start changing in a positive way. You will be able to feel and breathe your goals.

  1. Create a plan for achieving your goal

Now your goal is set, you can now move on to the second step. This part can have far-reaching effects on increasing your chances of achieving your goals. Once your goals are clear and set, start preparing the list of everything you will have to do to achieve your venturesome goal.

The list should contain what all things you need to do to put you in the position for success. For losing weight – morning walk, exercise, drinking water, healthy diet, good sleep, not using the vehicle to cover short distance etc. can be part of the list of things to do. The list can be exhaustive, failing to make a list greatly minimises your expectation of achieving your goal. There can be 100 different things in the initial stage, write them down, seriously write them down.

  1. Work on your plan on consistent basis

The above two steps are important but third and the last step is the ultimate step which identifies goal setting and goal achieving. Many people spent their time and energy looking for a secret formula that will make it easier to achieve their dreams and goals with a minimum of efforts and time.

In practice, there is no such thing. If someone says that it exists, then he is selling you untrue hopes and wish. Looking at all the successful men and women, one can see the trend that they were persistent and consistent with their actions on daily basis daily reading or daily walking or daily excising.

Few things from your list will have to be done on daily basis. Certain things can be done per week or monthly basis. Day in and day out moving towards your goal bit by bit, step by step in a consistent, uniform and regular manner will develop a habit and you know habits do not die.

Do you know how to stay happy at work?

If at the start of the work week (Monday) you have an overwhelming feeling of sadness, anxiety, and/or stress means you might have a case of the Monday blues. If it can happen once in a while then it is OK but too frequent then you should think of changing your job.

This is a sign that you are not too happy or satisfied with your present job. If this is a feature in most of the jobs that you held before this you should see what the problem with you is.

happy employeesIntrospect with your job skills, colleague behavior, job timing etc. Why you cannot be happy at work. Why you are unable to cope up with your work.

Here are few points about how to stay happy at work:

  1. Make priority list

First and the foremost make a priority list of the task you have to perform today. Start your work with the most important task that should be performed. Starting this way you will decrease the burden on yourself as time goes by.

If possible try negotiating for extensions for those works that you think will not get completed today from your higher authorities.

Do not make it a habit of taking work to home. You may need it sometimes during the peak season. Whatever is finished in working hours is finished. And what is left can be continued the next day. Work is a continuous process without any end.

  1. Think positively

Many people are in a habit of seeing only the negative side of what they or others do. Try to focus on things that you really like in your job. Try to include more of positive things in your work. Positive thinking will enhance your work capacity and make you happy.

  1. Combine passion and work

Sometimes it happens that doing the same and repeated work is often boring. Few people get restless doing the same thing over and over again. Find how you can make your job more challenging, interesting and fruitful.

See for avenues where you can combine your passion with your work. Like if you have a passion for seeing new places then you should try for traveler’s blog writing jobs.

Always think how you can make your role more interesting to yourself and others. You can volunteer to improve the skill set of your subordinates during office hours.

  1. Change working routine

Does your company allow you to work flexibly? Then you can choose to work from home one day in a week. This will give you much-needed change from your regular work but this should not mean, time to relax throughout the day.

You will have to show output even if you are away from the workplace. If this option is not available in your office you can talk about it with your manager.  Many office/factories work in three shifts. If your workplace allows you to change your shift, then take the shift you are most comfortable in.

  1. Upgrade your skills

If you feel that you are under-skilled for the work that you are doing. Or you fell your present skills are getting obsolete. Then join some course to upgrade your skill set. Staying ahead in your work will make your job secured. And it will be an added advantage on your CV, in case you want to switch.

  1. Develop network of friends

Meeting people and making workplace friends will help you know the perspective of the company. People will be interested in your opinions and you will be interested in their opinion.

You can also organize an outing or picnic. To get more familiar with persons of other departments who are on the same wavelength as you. This will create your interest in your workplace.