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Thursday, 3 September 2015
How to Run a Successful Small Business, Part 1
hi my name's Brian Silverthorne I'm a business coach into making this video specifically for those people who are responsible for the success of a small business so that's for business owners in two categories those owners that want to grow their businesses and increase the profits consistently and those owners who might be getting their business is ready for sale so they can make a more valuable in the marketplace it's also for managers and executives who are fully or partially responsible for the success of a business and it could be for those people who are considering buying a small business or starting a small business I've been a big fan of small businesses since I was very young I first my first jobs were in small businesses the local delicatessen auto parts store the sporting good store I did have an opportunity to work for bigger businesses and factories the money was great there but didn't like the politics that well I'd like the small business aspect in small businesses quite frankly are the backbone up this economy and if we're going to keep this economy chugging along and get a growing we need more small businesses and we need successful small businesses as a matter fact small businesses employees more than half up the total workforce in this country so if you back out the government employees government agency employees they probably employees they probably employees about 70 to 75 percent above the up the private sector workforce they contribute about happen the gross domestic product here in the United States and in addition small businesses and small business owners have a very high level of trust in all the surveys in the consuming public so small businesses are the key to our success now there the key to our success as we go on into the future and there's a way to make sure that your small business is running well structured well and growing consistently and by the way if you're curious about why I am making this video on this beautiful gazebo that's right in the middle a big vineyard and winery I'll tell you more about that as we get toward the end to this video so right now let's get started on all the pieces and parts that go into making a very successful small business before you get started not talking about the information on this flip chart here I want to tell you a little bit more about my experience with small businesses as I mentioned when I was going to high school and college I worked for small businesses but as life progressed I had the opportunity to manage a small business for an absentee owner I also worked as a salesperson and its sales manager for a small business I also started in grew a small business up my own very successfully and for the past 20 years I been working as a coach and consultant with employers who had anywhere from five to a few thousand employees so I've been fully entrenched in the small business market and as I said early on I love small businesses we need more successful small businesses so I started out by talking to business owners just randomly and also those that I work with said okay you have a small business why a did you decide to go into a small business or what do you want the small business to accomplish for you and everything that they told me fit into wannabes four categories one is freedom they may be wanted the freedom to do the work that they were doing for somebody else in their own way they wanted the freedom to spend time with their families they wanted the freedom to explore other things in their lives and make their own decisions but they wanted freedom secondly they wanted a sensible accomplishment they we may want to build that business so that their family can carry it on or so that it makes the mark in the community or so that it can be a valuable asset to sell going on down the road but they wanted to accomplish something important to them thirdly they wanted some money they wanted to be responsible for their own income so that they could they could enjoy the freedoms they hope to to work create and do other things travel spend time with family whatever it might happen to be and thirdly they wanted the whole thing to be fun if you're going to do all this is going to work hard and you're gonna X pressure freedoms and and make accomplishments and earn money it's much better if you're having a good time doing it so they wanted fun the unfortunate circumstances most to the business owners I talk to agreed that this is what they wanted but very few of them accomplished all for these and the primary reason is because building a business is a specific skill set and they had not either had the time or made the time or had the money so that they could learn and because a bad they were kinda like driving a car that's not tuned up very well it spits and sputters and you gotta have periodic maintenance and you get where you're going on but it's not a very fun drive and it takes a much longer than you should so 1 I'm gonna talk to as i said before today is about the pieces and parts that go together to make a smooth running business that you can operate and have freedom accomplished thanks make money and have fun in the process so what do you need in general to do to accomplish these four things well you have to have efficient an effective operations and we're going to talk about how you get each in one of these each and every one of these as we go you gotta have consistently increasing profits you got to have growth nothing is static usually we there are shrinking or growing and you have to have a quick and accurate response for the market if it changes like right now our market just changed drastically in the last couple years those businesses that were prepared did much better than those that weren't so that's where we're going to get started everything I talk to I talk to you about here from this point forward will be to help you accomplish these four things so you can achieve these things as a business owner so stay tuned all right as I mentioned there are a lot of pieces and parts that go into building a good small business but if you're a small business employer your employees are probably your biggest expense they're also your biggest asset they could be your biggest source of frustration and even though the have all those three components they are the number one key to your success your employees are the people that touch everybody else that you do business with internally and externally and how well those interactions go are going to greatly affect the success of your business so to have a successful business as a relates to your employees your employees need to be happy they need to look forward to come into work they need to enjoy what they're doing they need to care about the business that you're in and the products and services that you offer the need to be happy doing their jobs they need to be productive there are some statistics that show that the average American worker only works to fifty or sixty percent of his or her capacity and there are reasons for that and it doesn't really have anything to do with the intelligent or skill up the employees but will get into those things also they need to watch to actually want to help your business be successful that means that they're gonna contribute much more positively and much more consistently they need to want to help you grow and succeed and it all boils down to fit you've got to get the right people that fit with what you have to offer and how you offer it and how you operate your business every day so we're going to take a look at next at how you make sure you get employees that fit well with your business okay so how do we find employees that fit well with your business those that are going to contribute to your success will it all boils down to the recruiting and hiring process now to make this process a very effective takes a little time in preparation but once you have it done it's a done and believe me based on the conversations that I've had with business owners hiring the wrong person can be a very expensive and very frustrating process are both during the hiring process and on into the work environment so you wanna make sure you do it right the first time or at least maximize your potential love doing it right first time so what are the things that need to be considered well in the interview process you're gonna have to talk about how well they fit so they need to fit the job requirements the specific duties and responsibilities and results that you expect the person you're hiring to produce they also have to be a good match with the purpose of your business why are you in business other than making money what do you want to accomplish what do you see for your business going in the future they gotta be a good fit with that they also have to fit the values and the principles and the standards that guide your business so they know what they're doing some writers are doing something wrong or they're doing something your way they need to be a good fit with that you also have to have a management style that focuses on things that help people become successful as individuals because the greater the individual success the greater the business success if you have people that are successful on their own within a business they're gonna contribute to the success of your business and remember these are the people that want to help you become successful so gotta have a management style that teaches that coaches that can mentor with that's needed but can help the people grow as individuals and can guide them in the process of doing their work so these are all the things that you got to think about and put together when you're designing it recruiting and hiring process that's it for part one lots a great stuff but there's more be sure to check out part 2