• Skip to primary navigation
  • Skip to main content
  • Skip to footer
WittySparks Logo White

WittySparks

Ignite Your Thoughts

  • Topics
  • Reviews
  • Subscribe
WittySparks / Business / Protect Your Greatest Small Business Investment
Protect Small Business Investment

Protect Your Greatest Small Business Investment

Business July 12, 2014 by Nishitha

As a small business owner, your greatest asset is you, your time, and your sanity. Your time management and productivity skills can be your greatest enemy or your best friend. According to the Small Business Administration, one of the top reasons for small business failure is under-capitalization, and this includes not budgeting enough time.

If you cannot do a job, then you will need to hire someone that can. Sometimes this is for the best. Other times it is an unforeseen expenditure. Fortunately, there are things that you can do to manage your business more effectively, making the most out of your precious time.

On this page

  • Make A Business Plan
  • Get Productive Anywhere
  • Think Systems

Make A Business Plan

Before you purchase special software for your business or get training in leadership skills, create a full and comprehensive business plan. This will be your guiding document and the foundation of everything you do. Like building a house, changing the foundation of your business is hard to do after you get it built. Dwight D. Eisenhower said that the plan is useless, but it is the planning that’s important.

An article in Entrepreneur explains that planning is critical because it forces you to establish goals and outline the steps needed to achieve those goals. The article suggests being concrete and specific with dates and deadlines in your plan. However, do not obsess over every detail. Be concise and ready to act on the plan. This process will ultimately save you time and money.

Get Productive Anywhere

Productivity software is the rescuer of the modern small business owner. Where your business plan holds the guiding principles of your business, your productivity programs are the workers of the company. The best part is that they can all fit into your tablet or laptop.

The cloud is a large part of productivity and new business models. Cloud systems provide secure platforms to share documents, spreadsheets, and whatever else you might need with everyone in your company. This allows you to create, edit, and share documents from home or at your favorite coffee house on your own schedule.

You can have your documents in your employee’s or client’s inbox in the morning, then they can look over the docs, make changes, and return them any time of the day or night. Your nine to five days just changed to an anytime business model.

Think Systems

There is a lot of oscillation between the intellectual aspects and the practice of running a business. Research in the journal Systems tells us that business managers have difficulty thinking in terms of systems and procedures.

Systems allow business owners and managers to view the whole picture of their business in order to create procedures and training for themselves and their staff. Trying to run a business without these procedures can really hurt you in the long run as well as be a time-sucker until any problems are fixed.

After creating the business plan and putting it into practice, be sure to analyze your process and day-to-day functions to be able to see the big picture of how your business is doing and running. This will help you create new solutions to problems as well as keep doing what you are doing well.

Appreciate your opinion on this topic on social media by tagging us @wittysparks
  • LinkedIn
  • Twitter
  • Like
  • Pinterest

Related Topics

  • 25 Ideas To Create A Small Business
  • 7 Considerations to Have When Naming Your Business
  • What are Major Technology Trends for Small Businesses?
Launch Offer
Rocket.net - Managed WordPress hosting
Rocket.net - Managed WordPress hosting
$1 for first month, $25/month

A highly secured WordPress hosting platform powered by Cloudflare enterprises with customized services for agencies, eCommerce, and small businesses.

  • PageSpeed Guarantee
  • Ultra Secure Platform
  • FREE Migrations
  • Automatic Updates
Try for $1.00 Our Review
We earn a commission if you make a purchase, at no additional cost to you.

Our Favorite Tools

Semrush - SEO and Marketing Tools
Semrush - SEO and Marketing Tools
$119.95/mo
Try for FREE Our Review
Semrush - SEO and Marketing Tools
Lasso - All-in-one Affiliate Marketing Plugin for WordPress
$29/month
Start Free Trial Our Review
Semrush - SEO and Marketing Tools
Grammarly - AI-powered writing assistant
$12.00 / month
Try for FREE Our Review
Previous Post: « Lucasfilm and Disney present to you an all new way to discover Star Wars!
Next Post: Aiino Power Bank – The external battery for smartphones and tablets »
Profile picture for Nishitha

About Nishitha

Co-founder of WittySparks
WittySparks Staff

I am done with my Physiotherapy Graduation. And I always try to share Health and technology tips with people. Apart from Physiotherapy and being a tech savvy, I do explore more on Technology side and I keep sharing my findings with wider audience.

View all posts by Nishitha
  • LinkedIN
  • Twitter

Footer

Search

Exclusive Coupons

  • Moqups Review - Use coupon code “WITTYSPARKS" for 20% off or "PARTNERS50" for 50% discount on all plans.
  • Serpstat Review - Use coupon code "wittysparks_discount" for 30% off.
  • WPForms Review - Use coupon code "WITTYSPARKS" for 50% off.
  • WPPayForm Review - Use coupon code "wittysparks" for 10% to 40% off.

Affiliate Disclosure

If you make a purchase from WittySparks links, we will receive a small commission. See our Affiliate Disclosure.

Sponsors

Partnered with FreePik to use the licensed images.

turn to dhgate for smartphone

Follow Us

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn
  • Instagram
  • YouTube
  • RSS

Copyright © 2022 · Hosting sponsored by Rocket.net (Affiliate link)

  • About Us
  • Contact Us
  • Privacy Policy
  • Affiliate Disclosure