Business Management

If you are looking for business management resources or perhaps advice to help you start up a small business, then read on .....

Business management refers to the activities of effectively running a business - namely planning, organising, staffing, leading and controlling.

Forward planning for the business relies upon your knowledge of your business environment, in particular understanding your customer and their needs, together with having identified your competition and where the gaps or opportunities may be in the marketplace.

• Starting up a business and developing your business plan

If you are looking to start up a small business, then you will need a business plan. A sound business plan includes -

• a marketing plan (describing the product, price, promotion, position) which helps identify how you will differentiate your business from your competition
• an operational plan, detailing the logisitics of delivering your service or product and how the business will be structured functionally
• a staffing plan, that refers to the recruitment, training and reward of staff
• a financial plan that breaks down all of your labour, equipment, financing and materials costs, together with projections of likely revenue from sales

If you need to prepare a detailed business plan, perhaps to support a business loan application for example, then we have a great sample business plan template you might use or adapt. Click here Business Plan Free Template

• Business Management Courses

For information on recognised providers of business management training courses, visit our page Business Management Courses Melbourne

• New Business Pitfalls

Want to know the reasons why so many new small businesses fail, have a look at Common Business Pitfalls

• Business Management Skills

Effective business management also requires you to ensure the development of sound processes, procedures and policies. Then there is the actual organising and scheduling of work - and if your business has staff working for you, then you must be able to delegate and motivate.

It is estimated that up to two out of every three new small businesses shut down within the first two years of establishment. Why is this?

Often it is because the entrepreneur with a great idea who initially starts up the small business lacks the business management skills to efficiently run the business.

For example, the engineer or the computer technician or the builder or the electrician will typically possess good technical skills themselves and a good work ethic and will have the drive and initiative to set up their own small business

But the entrepreneur might not have developed the ability to effectively control the costs or manage the record-keeping required by the business, or they may lack the sales and communication skills necessary to grow the business or they may not have the people management skills for motivating their staff.

Have a look at our page Small Business Tips

The NSW Government, Department of Small Business offer a useful resource site with some informative articles for the small business owner - in particulat have a look at their article, Managing Your Business in an Economic Downturn

• Government help for small business?

A fantastic resource site that offers a gateway to other government sites is Business - it also refers you to information about government grants and funding for people who are looking at starting up a small business

If you want to speak with someone who can offer advice on assistance that might be available to you in business management, call the Small Business Support Line on phone 1800 77 7275

Visit our blog and share some of your small business experience - some of the lessons you've learned ....

Small Business Australia Blog

• Needing to develop your management skills?

If you are looking for ideas, advice and tips to improve your management confidence and capabilities, then check out Management skills development

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