Have you always wanted to start a small business but not sure where to start?
Start here.. Learn all of the essential business skills to start your small business.
- Suitable for anyone wanting to start or improve on their own small business.
- An excellent starting point for knowledge on running a small business.
- Learn from highly experienced and qualified tutors.
- Start your own business; or advance your career in a small business job.
This is a flexible, relevant course for those wanting to train to move into supervisory or managerial positions.
Learn and Develop Effective Business Systems for Better Managed Risk
Every business has risks associated with it; but risk can be minimised if you have the knowledge and tools to develop proper business systems. A well organised business is a low risk business with a higher level of sustainability.
Some things that can easily be time wasters and divert your attention from those things that really matter; but with good systems, time is less likely to be wasted, and important things are less likely to be overlooked.
Systems are those procedures or mechanisms that you put in place to make sure everything runs smoothly.
Many small businesses tend to be very ad hoc in the systems they use; never really taking time to stand back and get a proper perspective or plan how to do things. If a small business is being run by a boss who is innately organised, the boss may well be able to run that business, managing a small number of staff, without any well constructed systems. If on the other hand, the boss is not a naturally organised person; the business operation can become very inefficient.
There are many risks with not having well constructed procedures, too many to list here, but they can result in:
- Inconsistencies in the way customers, staff and everything else is dealt with.
- Losing control of finances – eg. over spending, poorly investing, not keeping money in reserve for taxation, staff sick pay, or other obligations.
- Not satisfying legal requirements – eg. letting government registrations lapse, treating staff or customers in an illegal way.
The Cost of Systems
It can cost a lot of time and money to put management systems in place for a business; and there can also be ongoing costs to maintain those systems. The cost can be in time devising and maintaining those systems, but it can also be in the cost of purchasing systems from elsewhere. For example, you can buy computerised diaries, invoicing systems and so on that can help with small businesses.
These costs can be different from country to country, and industry to industry.
New businesses may often underestimate the complexities, time and costs involved in establishing systems.
Many businesses will only attend to the most critical systems when they start up. These may include:
- Establishing the legal status of the business (eg. setting up a company or partnership agreement, registering a business name; obtaining planning permission for operating in a commercial property, obtaining licenses or permits related to products or services being offered).
- Organising financial management (eg. opening bank accounts, organising credit card processing facilities, engaging a bookkeeper or accountant to track and help manage finances).
- Organising insurance policies.
- Establishing basic rules or procedures to be followed in order to ensure laws are not broken by staff.
These things should be a minimum – but sadly, some businesses do not even attend to the minimum.
Most businesses will also benefit from the development of procedures to be followed by staff. In a very small business, this may be as short as a one page document setting down key rules to ensure a consistency in how the business deals with key things. This might address issues such as:
- how and when invoices are sent out
- how payments are dealt with
- how products are packaged and delivered
- how phones are answered
- who does what etc.
In a large business, these procedures can become far more complex; and may evolve into a document of hundreds of pages.
This will obviously depend in part on how big the business is, how many staff they have, how many different types of staff roles they have and so on.
Course Duration: 900 hours of self paced learning
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