The idea of having a huge business situated in an up market state with fancy offices matter the most to bearer of the idea although most don’t understand the SME’s concept. SME’s has a deeper meaning than how it is actually explained, with it is official term explaining how it should be classified on a micro-level and this has been a mentality that most SME’s entrepreneurs carry and mostly infuse/attach to their mission and vision statement and we have had a few that grow and others fail because of multiple reasons but statistics has shown to have 40% fail because of funds, lack of discipline, no proper business plan, ineffective and inefficient marketing.
There is no uncertainty to the growth or decline of a business and how you conduct business and yourself, the most important thing to do is to take care of this aspects:
- Business plan.
- Compliance and relevant certification.
- Principles.
- The Entrepreneur.
- Business Operations.
- Organizational Structure.
- Policies & Code of Conduct.
THE ENTREPRENEUR
The role was to prepare a business model that fits well with the vision and mission, the most of your motivation indicated you should read more about business and financial matters but then this requires a heart and proper outlined mentality of how things are done and how your diversification must be well balance with understanding. Understanding when pride should kick in and when it shouldn’t and also learning more about analyzing people, emotions and expressions so relatable business questioning are important to to understand where your sales scale is on.
BUSINESS PLAN
Everything about your business relay on the mission and vision therefore we don’t understand that drafting and creating a business plan is not the same when you draft a business you sometimes get someone to do for you and sometimes you take a template on the net and edit where you see fit that when one reads might be open to funding or support then there’s experience where you start selling different kinds of products or offering services just so you could have nuggets and reference to creating a business plan that works. The aim is to create a business plan have a:
▪Template of table of contents.
▪Understand the terms and how they must come about.
▪Introduce a product/service to yourself then to you customers sell for about 2months or 3months.
▪ As you sell look at all the lessons you’ve read about and put them into practice.
▪ Then journal everything day by day as days unfold.▪When drafting a business plan
request guidance from people that
have had success funding opportunity.
▪ Then get your previous literature teacher/editor business individual you trust to proof-read.
Once approved you have a business plan.
MARKETING
The most troubling and yet hecticthing to do most of you seem to have an idea that what is written in the books is the only thing that matter that if you don’t put in the work the other platform will work out for you, quite frankly business people have made different options to help either one of your businesses so here it is:
PAYABLE
Payable options allow your sme to have a proper marketing strategy that will gets you to relax and have a bunch of people exhaust their brains coming up with idea’s to have you business growth on and off net. If you have a sizeable budget get an external company /individual to do your marketing.
DOABLE
Understand who you know what you know and how know it in this instance you should be a conversation starter get to know people that will be able to help you marketing your business both on and off the net, you should be able to preach what your dish out all the time making sure
everyone understands what you are offering, you should be able to set up a schedule that allows you to make a killing with this marketing thing.
You are your business and yourbusiness is a reflection of what you think so understanding yourself makes business more easier, the more you work on it the more you have it grow. There is alot of duplicates and if you look at the stats we as South Africa hold a 0.5% of inventory level
(we are what we call a secondary source)all around the world so the things we have are either bought or copied, When you open a business the fresh idea’s you think of cater for your current location so when you up scale think on the level you are upscaling to, Business grow fast when
you move slower this is because the amount of information you’ll be absorbing will manifest well if you put it to practice.
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