Planning for Success

The Fundamental Parts Of Your Small Business

The Fundamental Parts Of Your Small Business | Kosher Income Momma | Diary of a Homeschooling Entrepreneur

The first thing to think about when you seek to make your days more manageable and more effective are the parts of your small business. What parts of your business are essential to your success? For each business, you’ll need to look at your own situation to determine it, but this can get you started.

Human Resources

If you hire or contract out to others, you’ll need to set up, organize, and manage all your HR. Having some knowledge of this is essential because you should not do it all yourself, and there are laws to consider.

Accounting and Finance

Every business must figure out how they plan to keep track of income and expenses and set up benchmarks for planning purposes. There is a lot you can automate in this area too.

Marketing and Advertising

No business can exist if they don’t get the word out about their solutions.

Production

If you have a product, whether physical or digital, the product has to be produced somehow. Much of production can be automated depending on the type of products you have.

Information Technology

Most small businesses today do have to deal with technology in some way, which means you need to have a general understanding of the technology available in your industry to help you manage and do your business.

Operations

The inner workings of your business are ripe for automation. It doesn’t matter if you sell products, manufacture products, or perform services, someone has to be in control of this work, and that’s typically the small business owner because they don’t typically hire managers, but you can.

Customer Service

Even if you only serve five customers a year, you need to focus on customer care in order to keep your customers happy. A lot of this process can be automated too.

Purchasing

This is a department that will often fall to the owner of a small business but exists as a separate department in a large business. In this department, you’ll want to figure out what the business needs, how much, when, and negotiate better prices, and so forth.

Legal Department

This is one of the first areas to go for a small self-owned business, but it is still important to acknowledge this area. You always want to make sure what you do is legal and follows the laws.

Business Development and Growth

This includes sales, marketing, project management, product management, and more. If you focus on business development, you’ll focus on how you can use what you have to expand your audience and make more money.

While in general, all businesses share the same fundamental parts, some businesses, especially home solopreneurs, may place importance on different parts depending on their goals. But these potential fundamental parts of your small business bare considering so that you can create a solid automation plan.

Wishing you much peace, happiness, and success,

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