You want to start a business.
Perhaps you’ve stumbled upon the Next Big Idea—the one that will change the world and make you the next Thomas Edison/Bill Gates/Steve Jobs. Or maybe you have a solution to solve a longstanding industry problem.
Whatever it may be, innovation is nothing without business savvy to back it up. Though you can ‘build a better mousetrap, and the world will beat a path to your door’, without essential business skills, you will burn through money faster than the world can buy your mousetraps.
Every entrepreneur needs to know about the less glamorous side of running a business—the back-office and administrative jobs that take up the bulk of your time. There’s a reason they exist. Even businesses with great products and hungry markets can fail if you don’t take care of the boring stuff.
Furthermore, as a business owner, you need to know basic skills like cash flow management, market analysis, and managing staff. These skills will be the same whatever business you run—whether you're a sole-trading graphic designer or you head a manufacturing company employing dozens of people.
To avoid joining the league of companies that didn’t quite make it, business owners need to pay attention to these tasks that keep operations running smoothly. Modern businesses face a minefield of problems that can blow up in an entrepreneur’s face. A missed payroll, bungled marketing, and irate customers can quickly sink operations if not dealt with immediately.
So take care of these ‘boring’ basics first. Then you can focus on the fun part of growing your business.
SALES AND MARKETING
Every business needs sales to survive. So strategies to increase sales need to be at the top of every entrepreneur’s skillset.
この記事は SME Magazine Singapore の June 2019 版に掲載されています。
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この記事は SME Magazine Singapore の June 2019 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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