So How Is It Going? Management & Captial

We are continuing our Top 7 Reasons Businesses Fail. Let's take a look at two more really important items SMEs should consider.

Factor 3: Bad Management:

Anyone can start a business, very few can manage the people and operations. Management is one of the primary reasons businesses don’t survive that first decade.

Lack of management experience and knowledge of how to affectively manage the offering are among the top reasons.

Management isn’t just about keeping up with money, employees, products, and services; this also includes managing you customer base and public image. Bad management inevitably leads to neglect which is a speedy route to overall failure. 

A sound way to avoid management woes is to honestly ask yourself who will serve certain functions necessary for the business to in fact be a business. 

How many roles can you(leadership) hold? Can you find quality people or partners to fulfill others?  In addition,  it is important to have tasks and roles incorporated into your business structure. These items should certainly be addressed in your planning.

Factor 4: You need funds to make things run.

You have money to start? Are you sure?? Operating funds are a necessity. Yes, before you even make any!

However, we understand that many SMEs start with limited capital.  Under these conditions your communications should be a key focus. Operating with small funds means solid business planning and a commitment to your marketing and public relations are essential. 

Whether you have startup money or lack the desired funds for your offering, planning and marketing are important for either reality.  This is where we come in! All you are to the public or your target audience is what you communicate yourself (and your offering) to be. 

Votre Mot works to find your voice and create brand messaging, that strengthens your bond and relationship with existing and soon to be customers.  Check out our Brand Check Ups for the 2012 New Year. . . . .  

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