Time and time again we hear stories of how yet another big corporation has run a mom and pop shop out of business. It actually seems to be a trend these days. Maybe this even hits close to home for you, as your business has experienced the threat of a large competitor. As much as you may wish it wasn’t so, competition is always going to be a factor in how well your small business performs, but thankfully, size doesn’t always have to be the deciding factor in who comes out on top. It’s all about the strategy.
Do you ever wish someone would give you a cheat sheet of focus areas for your small business? Well, look no further! In this article we are going to outline five areas to help you maximize the efficiency and profitability of your small business. Let’s get started!
When it comes to manufacturing, determining the right process is everything. But developing the right process for each element of your small business is something that takes a lot of time and constant editing. Many people are familiar with the brand Toyota, but not many people know all of the changes the company’s manufacturing process had to undergo before it could become what it is today.
Every businessperson knows how essential a business proposal is in the process of obtaining new clients, but not everyone knows how to do it right. Business proposals can either make or break your small business, so it is very important to always put your best foot forward. To ensure that a great proposal is coming a potential client’s way, proposal management is needed.
Each and every nonprofit organization has a common purpose: to serve the public through outreach programs, donations or even scholarships. Although the term nonprofit states in and of itself that the people who run these organizations are not seeking to make any money for themselves, sometimes it helps to run the organization in the same manner one would run a business.