Are You A Business Entrepreneur Or An Employee?
I visited a business recently and I was shocked to find the manager of the business driving a forklift truck, yet again! Don't get me wrong, there is no rule in business that says that you should not help in the factory floor now and again but, in his case, he seems to spend all his time doing manual work instead of managing his business.
If he spent his valuable time negotiating prices, running his business more efficiently and managing his staff, the return on investment of time would be far greater in terms of profitability.
A lot of business owners seem to think that to run a business successfully, they have to work long hours but fail to understand that by working smarter, they could actually end up growing the business faster with less hours worked.
The basic rules in business are:
Delegate, delegate and delegate absolutely everything that needs to be performed in the same way on a routine basis. This will free your most important resource, your mind, to look at the big picture.
Get rid of the chaff instantly! You immediately know if someone is not right for the job. So why is that person still working for you? Even 1 extra day spent on training the wrong person is 1 too many. Hire the best people and train them to be even better!
Have a plan and keep evaluating your plan. Set deadlines, goals, to do list etc. By constantly evaluating your plan, you will find out very quickly what works and what doesn't.
Build great systems to take the routine work and make it even easier. Keep records of everything you do so that you can train others very quickly. If you ever get asked a question about your business, keep a permanent record of your reply. This will save a lot of time as most business owners get asked the same questions on a regular basis.
Start networking with other business people in your line of work and outside. By constantly meeting other like minded people, you will be able to keep your company 1 step ahead and learn new ideas and innovations for your business.
Attend all exhibitions that relate to your products. This will keep your product knowledge high and you will become an expert in your field.
Learn new skills constantly. Read business books, buy courses and attend seminars. I particularly like audio tapes, as you can listen whilst doing other things, like driving a car.
Bear in mind, that I am not saying that you should work more hours. If anything, I believe that you can work less hours then you currently do, and still make your business more successful.
Related Tags: entrepreneur, business, business entrepreneur
Naz Daud is the founder of CityLocal Business Franchise OpportunityBusiness Franchises and UK Business Directory Business Franchise Opportunity Your Article Search Directory : Find in Articles
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