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4 Strong Roots of Business

Updated: Aug 21, 2021



Someone shared a quote with me, "A tree cannot grow deep and tall at the same time". The deep planting of the roots are what nourish the tree and provide the firm foundation to grow tall.


I want to take a few minutes to share some tips to help you build your business infrastructure deep and solid so that it can grow to feed many.


Organization


You have your business entity established as a Partnership, Limited Liability Corporation or S/C Corporation. You are ready to share with the world your mission, purpose and vision. If you are not sure about the legal requirements for starting a business, please read the November 2020 blog to get information about creating a business entity.


Business Plan


Take some time to really think about who your business will serve. It is important to be specific so that you are not wasting time, energy and resources on serving the wrong audience.

  • Write a mission statement, outlining business goals and growth expectations.

  • Outline what your new business will do, what you might need to start a new enterprise, and what your business will bring to the community.

  • Where are you going to solve this problem (in an office, at the client or in a classroom)?

Management

  • Create an organizational chart for the business, detailing the positions needed to start the business, ranging from CEO and management to general staff and hourly employees.

  • Create a job description for each position. Outline specific duties, as well as who each position may report to. Rank each position based upon need and budget.

  • Create a projected growth list. Include future employees needed and materials or tools you might need as the company expands. Prioritize these items based upon need and budget.

Operations


When you first start a business you have to understand and manage administrative tasks that will apply to your business. You should plan to automate as much administrative tasks as possible so that you are focusing more on building your client base. Here are some questions to help you think through services you will need and what will work for your business.

  • How will you promote your business - blogs, social media, email campaigns, postcards postal mailings, radio or newspaper ads, and billboards?

  • How are you going to account for money you collect for your services and payment of your expenses?

  • What banking institution will you use for your business account?

  • Will you accept credit card payments? How will this be collected and what is the fees?

  • Every small business needs Customer Relations Management system. It will allow you to track emails and conversations with potential customers.

  • Social Media to advertise your business

  • Now there are cloud-based platforms that allow you to create and/or store documents, photos, videos and more in the cloud. This frees up your computer and helps prevent lost data and you can can address your files from anywhere in the world that has the internet.

These are just a few things you will need to establish your business and will change as your business grows and technology changes.


Join my Facebook group FEM500CO for support and additional information to build your business on the right foundation.


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