Managing a small business requires a person take on more responsibility than those managers who work at larger corporations. For small businesses, the manager is the person who carries out the basic business plan. He or she might also serve as the accountant, human resources professional, marketing professional and any other functional role that the small business needs to carry out mission and goals of the organization. Managers can ease the burden and lessen the stress of running a small business by thinking about implementing a few of the following tips into the organization.
Invest in an Enterprise Resource Planning system that is suited for small businesses. The word "enterprise" in ERP denotes that this software is mainly used by large multinational corporations, who have physical locations and operations across the globe. However, even if your small business only consists of one building, and the company mainly caters to locals in your immediate area, you implement this software into your business.
For example, if as a small business manager you find that HR functions and the associated paper work are too time consuming, you might install software that automates time clock procedures with paychecks, and even set up direct deposit for employees.
Delegate management duties that are common for small businesses, to regular employees in the organization. It is an increasing trend to assign more tasks to employees who can handle the extra responsibility. This means the business does not have to hire extra managers to take on these duties, saving the overall business money in the process.
Monitor news and other business resources for small businesses, for changing trends in the industry. Although it is difficult for managers to predict the flow of customer traffic in their local stores, let alone the macroeconomic environment on a global scale. However, small business managers should stay up to date on happenings in local, state and national politics, because things like taxes could suddenly go up, unexpectedly, affecting the company's bottom line.
Sources and Citations
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- "10 Time Management Tips That Work | Entrepreneur.com." Business & Small Business | News, Advice, Strategy | Entrepreneur.com. N.p., n.d. Web. 20 Feb. 2012. <http://www.entrepreneur.com/article/219553>.
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