Thursday, 3 September 2015

How To Run A Successful Small Business, Part 2

we're ready to get started on part two but be sure to watch part 1 first if you haven't done that yet use the link on this page now that you've got the right people hired how do you make sure they get started well well you have to acclimate them to the way you do business you gotta give them training and resources to help them become successful as individuals and when I talk about acclamation you need to introduce them into your business even if for somebody has twenty years have skills and experience that fit with you need them to do they've been doing it in other work environments other cultures they need to be acclimated to your culture so you need somebody to hang with them to make sure that they get started correctly until that person that's responsible for acclimating them into your business is comfortable that they're doing at least eighty percent of the stuff on their own so they need to learn how to do things your way they need to learn the specific skills technology systems that you have that help operate your business if there are certifications and licenses that are needed they need to be guided through those or to bring them was are along with them from previous experience are learning how to sell for everybody is a great soft skill and we're gonna talk more about that effective communication helps people get things done faster and I am with better understanding managing time effectively helps people produce more in a given period of time then don't than those that don't manage their time well and part of that is being well-organized so those things need to be considered in addition to help these people be successful as individuals you gotta given the right tools the right equipment the right materials the right technology that will allow them to do their work and produce the results you expect from them efficiently and effectively and your business needs to be filled with opportunities for your employees there should be opportunities for personal growth so they can get better at what they do and and as individuals arm there needs to be opportunities for contribution just that quick interesting statistic the main reason that good people leave a business is because they don't feel they're being allowed to contribute and there's gotta be opportunities for advancement there's gotta its promotions and there's gotta be opportunities for them to earn more money so once they're hired once you have the right people to begin the process these are all the things that you need to consider and have in place to help them become successful as individuals and contribute greatly to your business success okay structure is next the interesting thing about all its human beings is that we desire to things that are directly opposed to one another one is freedom we want to be free to do things our way to to have the opportunity to make decisions that sort of thing and the other structures we all need to know the rules in up the game or the business in which we play for example a football field has a structure and rules a basketball court has a structure in basketball has rules chessboard in the game a chess has a structure and rules can you imagine driving down an interstate freeway that didn't have any structure no lane markers no off-ramps we need structure and all good businesses have a very well-thought-out well-designed structure so what's included we need clear and complete job descriptions people need to know what's expected of them in their job in and its the specifics of how they're supposed to achieve those expectations we need clear and complete policies and procedures those things that guy the employees while they're doing their work I'm a big systems guy everything needs clear and complete systems can you imagine taken off in an airplane that didn't have a good system for lowering and contracting the landing gear how bout a air circulation system how about a navigation system that airplane would not be very trustworthy to me if it didn't have good systems all good businesses also need good systems there needs to be clear expectations based on results the employees need to know what's expected of them the results that they're supposed to produce and even though there are activities attached to every job to achieve results if in employee wasn't hired to produce results then there's really no need to hire them are there should be measurements that are related to the results and that's very easy in things like athletics for example a 250 hitter achieves a certain level results for 350 hitter does better so you need to have the same type of standards measurements within your business as it relates to the results in a few have the expectations and the standards of measurement setup focused on results then you get objective job reviews the people no what's expected of them and how they're contributing and whether or not they're doing their work well so make sure that your business is well structured monitor that structure regularly and improve it whenever it needs to be improved but remember be structured okay what else needs to be considered when you're building and growing a successful business how about money the main reason that you should be in business is to make money so you can make payroll do research and development take your family contribute to worthwhile causes contribute in the community money is the main reason but you also need money from different points of view for example you may need some startup capital you may need some operating capital to you get going in get your income up to where it should be as a matter fact the main reason most businesses fail this they just haven't got enough start-up and operating capital to keep them going until they get into a point to profitability so be it that's very important to have cash flow management this system remember I'm a big systems guy this is the most important system within a business you have to have a great cash flow management system what's come in and what's going out how are you using about risk management you don't want to do things are going to jeopardize the success your business so you need permits possibly you may need licenses there maybe fees that you have to pay there may be regulations and compliance that you have to follow yeah I know it's a big interference in a big hassle but it is what it is so you need to learn about these things and how to take care if your business with in these requirements you need insurance to protect yourself and your employees and you need to decide what's the best formal structure for your business is it a Corporation is an LLC if it is a corporation is that sub src court you just need to make all these decisions and they need to be made and made well to contribute to the success of your business just couple more things and we'll have the complete package everything you need to do and no to build and grow a successful business one extremely important ingredient one of those pieces and parts I talked about is committed engaged leadership whoever's running the show whoever's the leader the business has to be a daily example of what the business is all about and how everybody should behave during the operation at this so I have a committed leader that's fully engaged in the process there has to be monitoring and evaluation on a regular basis are we doing things as good as we can do on is there a way to improve them do we need to change in a little bit do we need to eliminate them do we need to add something else continuous monitoring and evaluation and at all should be focused on continuous improvement how can we get better how can we deliver what we deliver better how can we satisfy our customers better and when you put this entire package together and you've got it done right some magic happens on my show you that on the neck sheet here on the easel okay I talked about magic happening once you have your business totally put together everything that we just talked about it's done it's done right and your operating it well then the magic begins and here's what happens here's the results that you get you get employees you get customers you get business relationships you know those people that supply you products are offer you services like bankers and accountants and attorneys and vendors and contractors that sort of thing and you get the community all saying great things about you have you ever been in a grocery store line and had somebody in front you complaining about the place they work for complaining about some place that they did business that's negative conversation in the community you want positive conversation in the community because it attracts people to you when people say good things about who you are what you do why you do it the way you do it in your employees and your customers in the people that do business within the entire community our fans have what you do employees lineup because they want to work with you customers come to your store because they want to do business with you based on all the good news that they heard other people want to do business with you they want to be suppliers they want to be consultants they want to help you and the entire community is gonna say great things about you so when you get this business built correctly and when you operated correctly you create a conversation in the community that just can't do anything but help your business grow and become successful I'm not talking a little bit more about this entire package in just a minute lot information right well it's all on video so you can replay the video if you want you can pause it take notes but you got everything that you need to know to build grow and operate a successful small business whether you're just getting started or you've got a business that you want to operate more efficiently and more effectively and more profitably it's a lot a lot of information if you're interested I've put all of this information into a very extensive two-day program that I called the small business uprising I think it's time that we had a small business a uprising in this country we need more successful small businesses we need more private-sector employment we need to keep our country strong so I put this together into what I just said as they small business up prices can be two days and I mentioned before why am I doing this in this beautiful gazebo in the middle the vineyard in a middle of a winery this two-day event is gonna be at a beautiful a winery in northern california called CA lowest state now if you're interested in learning about just exactly how this event is gonna take place what's gonna happen when it's going to happen I invite you to take a look at the other video that is posted here the small business uprising event and we'll explain just everything that's going to go on and you can decide if indeed it's something that make sense to you but thank you for watching this video I hope you come back to it often use the information here to help you in your business if you like it please click that LIKE button down there if you've got some comments to make please make your comments invite other people to watch this video that are involved in small businesses am I hope that it in it that it helps you and it helped everybody that you invite to view it thank you very much for your time