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Management of a small business

Managing a small business may not seem as much but it is actually rather challenging. As the owner of a small business there are many things that you need to pay attention to. Although owning a business isn’t without its struggles, the rewards are often worth it. As an entrepreneur, you’ll enjoy far greater freedom and flexibility than you ever could as a regular employee. And with the right mindset and a proper understanding of the hardships you’ll face, you can put together a plan to tackle any bumps in the road.

Have a plan

Without a plan, it is merely a dream. It doesn’t have to be a book, but you need a few pages outlining specific objectives, strategies, financing, a sales and marketing plan, and a determination of the cash you need to get things done. Writing it all down is a crucial first step.

Manage your accounting

You can hire a good bookkeeper or purchase DIY accounting software. It is crucial that you keep accurate track of your income and costs. Keep accurate records of what you loan to your business. When your business starts making money, you can easily pay back the director’s loan first before paying tax on the remaining profit.

Listen to what others have to say

Advisors are crucial because you need people to bounce ideas off, inspect what you’re doing, and push you to greater accomplishments, holding you accountable for what you are committing to do. Always be good to your word and follow through on commitments, even when difficult and challenging. This isn’t about you; it’s about the business. Don’t take things personally and stay out of emotion. Do not let your ego take control.

Delegate but don’t micro-manage

A manager’s job is to delegate and then inspect progress. So don’t be a control freak. Keep business organization flat. If you delegate effectively, you will get more and better then you expect. Have an actual written training and orientation plan so your employees know what is required of them. Use an incentive-based rewards system, and maintain a no-problem attitude about issues that crop up.

Get tech savvy

It is incredibly powerful and very cost efficient, but it takes time and some skill. It is about creating a community, using social media networking such as Facebook, YouTube, Twitter and blogging to build rapport with your market. You need to get on the train and do it, because your competitors are.

Get qualified to run your business

You must know that to run a business you need to be a leader and that is why getting qualified is important on all levels. So if you have no experience or expertise in running a business, one of the first things that you should do is definitely get the right education to know what you have to do.

At Global Edulink, we encourage relevant and practical learning. And if you are a small business owner these are some amazing courses that we can recommend for you.

CMI Level 3 Diploma in Management and Leadership

The CMI Level 3 Diploma in Management and Leadership course is designed for team leaders, supervisors and first-line managers who want to improve their management and supervisory skills and techniques to become effective leaders within an organisation. The qualification will enable individuals to acquire approaches and qualities that are vital for the successful career advancement in management.  The course will teach learners to set and monitor objectives and goals on day to day operational and project activities. The Chartered Manager status is recognised across multiple industries and sectors and it is considered an excellence in leadership.

The course will cover key features such as learning the principles of management and leadership, managing a team to achieve the desired outcome, learning about equality and diversity within a team and using effective communication to build stakeholder relationships.

The CMI Level 3 Diploma in Management and Leadership will give learners the comprehensive skills and knowledge required to be a manager and the ability to apply their learning within an organisation. The qualification will enable individuals to enhance their career opportunities and gain employment in the desired field.

This certificate will improve your candidature for a number of job roles in the corporate world. This certificate will also pave way for your career progression, by putting you in line to demand for a salary increment or job promotion from your employer. Listed below are some of the job roles this certificate will help you in, along with the average UK salary per annum according to https://www.payscale.com/career-path-planner,

  • Project Manager – £38,256 per annum
  • Business Manager – £34.612 per annum
  • Business Development Manager – £34,077 per annum
  • Operations Manager – £34,673 per annum
  • Administrative Manager – £24,223 per annum
  • Team Leader – £24,249 per annum
  • Customer Service Team Leader – £23,157 per annum

CMI Level 3 Award in Management and Leadership

The CMI Level 3 Award in Management and Leadership course is designed for team leaders, supervisors and first line managers. It is a comprehensive course designed to improve your supervisory skills and techniques. As a result of acquiring management skills and techniques individuals will be able to demonstrate their knowledge of management to their employer and tackle workplace problems effectively. The Chartered Manager status is recognised across multiple industries and sectors and it is considered an excellence in leadership.

The course will cover key features such as acquiring principles of management and leadership and learning how to become effective leaders within the workplace.

The CMI Level 3 Award in Management and Leadership is an in-depth course that enables learners to develop their communicational and motivational skills and become efficient managers within the organisation. The qualification will enable individuals to enhance their career opportunities and gain employment in the desired field. Upon gaining the Award, learners can progress to a Level 3 Certificate or Level 3 Diploma straight away.

With this certificate in your resume, you are sure to wave your way through to a rewarding job role in the corporate world. You can also use this certificate to demand for a salary increment or job promotion from your employer or to expand your education in the area. Below mentioned are few of the job roles this certificate will help you in, along with the average UK salary per annum according to https://www.payscale.com/career-path-planner,

  • Project Manager – £38,256 per annum
  • Business Manager – £34.612 per annum
  • Business Development Manager – £34,077 per annum
  • Operations Manager – £34,673 per annum
  • Administrative Manager – £24,223 per annum
  • Team Leader – £24,249 per annum
  • Customer Service Team Leader – £23,157 per annum

CMI Level 4 Award in Management and Leadership

The CMI Level 4 Award in Management and Leadership course is designed for team junior managers, supervisors and first line managers. The objective of the course is to improve individual’s management skills and techniques. As a result of acquiring management skills and techniques individuals will be able to demonstrate the knowledge of management to your employer and tackle workplace problems effectively. The qualification will give you better chance at gaining the desired employment opportunities. The Chartered Manager status is recognised across multiple industries and sectors and it is considered an excellence in leadership.

The course will cover key topics such as managing the expectations of the stakeholder and learning how to become effective leaders within the workplace.

The CMI Level 4 Award in Management and Leadership is an in-depth course that enables learners to develop their communicational and motivational skills and become efficient managers within the organisation. The qualification is valued and an essential component to employers recognising the potential in becoming an effective manager. Upon gaining the Award, learners can progress to a Level 4 Certificate or Level 4 Diploma straight away.

With this certificate in your resume, you are sure to secure a rewarding job role in an industry of your choice. This certificate can also be used as a foundation to study further in the subject or to make substantial progress in your career. Listed below are some of the job roles this certificate will help you secure, along with the average UK salary per annum according to https://www.payscale.com/career-path-planner,

  • Project Manager – £38,256 per annum
  • Business Manager – £34.612 per annum
  • Business Development Manager – £34,077 per annum
  • Operations Manager – £34,673 per annum
  • Administrative Manager – £24,223 per annum
  • Team Leader – £24,249 per annum
  • Customer Service Team Leader – £23,157 per annum

 So if you have plans to start your very own small business, why not join our learning community and get started right away? You can contact our team on [email protected] for more information.

February 18, 2020

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