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How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
How to Run a Successful Small Business
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How to Run a Successful Small Business

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Running a small business is tough. Here are 9 key elements that can promote success at any small business.

Running a small business is tough. Here are 9 key elements that can promote success at any small business.

Published in: Business, News & Politics
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  • 1. 9 Key Elements for a Successful Small Business Brought to you by InsightSquared
  • 2. Running a small business is challenging. These 9 key elements will help you streamline your organization and lead your team to success.
  • 3. 1. Delegate Don’t try to do it all. Acknowledge that you need help.
  • 4. 1. Delegate Look for people with different skill sets and experiences. Hire people who are better than you. Then lead them to success.
  • 5. 1. Delegate Remember, delegation is not the same thing as micromanagement. Give your team tasks and trust them to follow through.
  • 6. 2. Communicate Work across teams to make sure everyone is on the same page.
  • 7. 2. Communicate Make sure that your communication stays organized so that all pieces of information reach the intended recipients.
  • 8. 3. Embrace obstacles When facing a challenge, use it as an opportunity to work smarter and harder.
  • 9. 3. Embrace obstacles Let these obstacles motivate you to take action.
  • 10. 4. Organize your data Data should be an asset, not a hassle. Try to get all of your data in one system.
  • 11. 4. Organize your data Get out of spreadsheets. Start modeling your data with graphs so that you can understand what it means just by looking at it.
  • 12. 5. Be efficient If you run a small business, you can’t afford to waste anything: time, money, or manpower.
  • 13. 5. Be efficient Standardize whatever employee processes you can. It will cut down on time spent on less important things.
  • 14. 5. Be efficient Make a point to meet regularly with your teams to make sure that no two people are working on the same task.
  • 15. 5. Be efficient Ask employees to report any unnecessary expenses or wasteful spending they notice. Check the company’s expenses yourself for business justification.
  • 16. 6. Innovate If you don’t want to be beaten out by big corporations, you need to offer something different. Small businesses are flexible; take advantage of that.
  • 17. 6. Innovate Improve your service, but maintain the quality of your product.
  • 18. 6. Innovate Find new ways to stay ahead of your competitors. Become a champion for change.
  • 19. 7. Foster accountability Every member of each department needs to be meeting their goals for your business to reach overall success.
  • 20. 7. Foster accountability Everyone needs to be held accountable for their own work, not just the sales team. Measure everyone’s progress, regardless of their department.
  • 21. 7. Foster accountability Use data to track everyone’s progress fairly and accurately.
  • 22. 8. Network with other businesses Other small business owners can become your valuable friends. Learn from them and share your own tips for success.
  • 23. 8. Network with other businesses Develop symbiotic relationships where you can each refer customers to the other and help in other ways.
  • 24. 8. Network with other businesses Help others before looking for help. You will never develop strong relationships if you are only looking to help yourself.
  • 25. 9. Customize your tools Your online tools should be formatted to help you and your business specifically. Look for software with customizable options.
  • 26. 9. Customize your tools Take advantage of the latest tools to stay ahead of your competitors.
  • 27. Thank you for viewing our presentation!
  • 28. You can visit our website at http://www.insightsquared.com/ and our blog at http://www.insightsquared.com/blog/
  • 29. Photo Credits “Keys” Courtesy of Taki Steve “Delegates infront information point” Courtesy of NHS Confederation “Old Fashioned Telephone” Courtesy of Images Money “Heat 1 of the Womens 100m Hurdles Semi-Final” Courtesy of William Warby “filing cabinet” Courtesy of Kiran Foster “King Midget Assembly Line” Courtesy of Alden Jewell “Bean Sprout” Courtesy of Brandon Giesbrecht “Signing Ceremony for New Power Facility at NSF Indian Head, Md.” Courtesy of NAVFAC “Webbed” Courtesy of Anita Ritenour “old tools” Courtesy of spinster cardigan “Salman Ahmad inspires the audience to sing and clap along” Courtesy of M. Elizabeth Williams, Girl + Camera LLC, and TEDx NJLibraries

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