Editorial

Business Management Tips for the Startup Entrepreneur

The beginning and ending can be clearly seen by business founders. There are certain goals and then there are certain steps to reach those goals. The technical business moves are formulated because this is where the knowledge is. However, the thing which sets the business apart and enables success is management skills. This and leadership skills shouldn’t be confused. While they have an influence on one another, management skills are about processes, more so than intangible attributes. Here are a few tips to help entrepreneurs manage their businesses.

Prioritise the Customer

The customer should be more than just not neglected; they should be prioritised. Businesses push to the point of perfection, with the hope that it alone with attract customers and maintain the business’s relationship with them. However, this is a very hard thing to do or accomplish. Therefore, having a strong customer-facing and – focused business is essential. Amazon, while being both a good example and an outlier because of their sheer-size, are this. Everything they do is measured by customer satisfaction – same-day delivery and cheaper prices, for instance.

Customers are the key to growth. Establishing a strong base of existing customers, those who continue to use your products and services, will bring about consistent income – something to build off from. Customer relation management systems will help keep customer’s details and correspondences in one place, which enables whoever is dealing with them to have up-to-date information, meaning complaints and questions can be resolved and answered faster.

Cloud Computing

Customer relations management systems are an example of cloud-based computing. This kind of software is a great way to streamline administrative tasks, make them more efficient. Because they are cloud-based, all you need to access the software is the internet.  This means it can be done via any device. It lifts the responsibility of having a central terminal or device to store and update data. What this allows is multiple employees to work with or from the same data (which should be up-to-date as this is the only place the data can be) without the risk of losing it or neglecting data security practices. 

There’re application perks of the software too. Systems like SysAid not only integrate IT services and support pieces into one system but also automate processes. This automation and streamlining improves efficiency. It means there’s a consistency to business management processes and practices that aren’t reliant on exceptional staff, which provides an excellent baseline.

Insurance

Insurance is an often-overlooked area of business. It’s a necessity, a legal requirement. However, those managing the business don’t always look to maximise its usefulness, either through pay too much or not having certain policies. 

Some insurers offer tailored policies. They will factor in what industry the business works in, how many employees you have, where you’re based, etc., and will craft a policy to your needs. What this means is that the business isn’t paying for unnecessary extras and, therefore, paying more than they need to. This lessens a business’s overhead and frees up funds for other avenues. Having a lower overhead will be great for the business in the long run.

About the author

Sachin Bhatt

He is the Founder of Tekz24. A big technology fanatic who is always on the lookout to learn something new in the field of Technology. He is also a big-time Cricket lover who plays the sport in his free time. Connect with him on Facebook and Twitter

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