When you’re running a small business, it doesn’t take long to discover that one of the hardest aspects of management for small businesses is time. Large and small businesses alike have the same responsibilities: administration, customer service, product development, meeting customer needs, maintaining an online presence, and much more. They also have the same amount of time available in a work day (8-9 hours). The advantage of large companies, when it comes to tackling this list of tasks within the time constraints of a typical work day, is a larger amount of resources at their disposal as well as a larger team to receive delegation. For small businesses with limited resources and staff, the focus becomes how to maximize their time.
In order to build valuable customer relationships, small businesses must have great customer service. For many consumers, this is the primary factor in why they choose to buy a product or service from a small business instead of a large company. Clients want more than good customer service. They want relationship.
One of the most common pieces of advice given to people in relationships is that communication is key. This advice is most often applied to romantic relationships, but it can also be applied to business relationships. As a small business, you have a specific message about who you are and what you have to offer that you need to communicate with your current and potential customers, so it’s important that you understand all of the channels that are available to help you communicate your message effectively.
For any small business looking to achieve success, one element of critical importance is inventory management. In order to function properly, small businesses and large companies alike must have an efficient system that allows them to manage the movement and storage of goods. In a previous article, we shared some reasons why inventory management is important, but in today’s article, we are going to focus on how inventory management can help your small business in the long-term.
One of the most tedious aspects of maintaining a small business is keeping records. Whether it’s keeping inventory or keeping track of sales, if you want to ensure that your business is in good legal standing, every good or service that your business provides to your customers must be accounted for