Many of you reading are likely to be soloprenuers, or work with a small team, and resources either financial or human will need to be managed efficiently.
In the video below, I talk about some of the ways we can create great results with the challenges of limited resources. It takes some forethought and planning to manage a business’ resources hence the value of creating a strategy for your business.
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MANAGE YOUR TIME RESOURCE
Don’t spend time on things that won’t bring you results. Time spent on a badly planned social media campaign, or editing your website, designing your business cards and flyers. While you need to present your branding, messaging to the best effect, don’t get lost busying yourself with stuff. Creating a strategy helps you identify what is important, effective and will produce results. Identify your time wasters and manage the time you spend on them.
MANAGE YOUR 'PEOPLE' RESOURCE
Do manage your people effectively. If the business is just you, think about the many roles that you currently have. you are manager, sales person, marketing officer, administrator, customer service, finance officer….and all the other roles that exist in a typical business. Many business owners juggle a few if not all these roles, and sometime lose track of time. Be clear on each function, do only those things that are priority and will move your business forward.
MANAGE YOUR MONEY RESOURCE
Don’t be in a hurry to buy every new thing for your business, only what is essential at the time. What do I mean by that, sometimes we want to get the newest, latest and expensive item because we think that is what will give us clients. It doesn’t. By creating a strategy you now only avoid spending money when you don’t need to know, but you also learn how to save money, cut costs and make your budget work for you