Best management techniques for small businesses

All small businesses want to one day be great, but you need to be aware that growing up in the business world is a process that takes time. It is necessary that small businesses adopt techniques appropriate to their size, so that they can grow in a sustainable way. In today’s article, we present the best management techniques for small businesses!

SWOT Analysis

SWOT analysis is imperative for small businesses. This analysis allows us to know our strengths, weaknesses, opportunities and threats, giving us a better knowledge of the market in which we operate and the competitors we are going to have to face. This analysis should be updated every six months, so that managers are always aware of market developments.

Balanced Scorecard

This technique measures the performance of the company, identifying the current position with the strategic objectives previously defined. Its application can be made from the definition of indicators, which analyze the results from 4 factors: team evolution, improvement of internal processes, customer satisfaction index and current financial situation. The manager should compare the actions with the results obtained, identifying potential deviations and designing a strategy to improve the results if necessary.

Use a real-time management system

It is important that you know the state of your business at all times, from the beginning of the creation of your company, because only in this way you will be able to evolve at a sustainable pace. Business monitoring software such as Multipeers can also be applied to small businesses, because the information generated is always vast and, in this way, the manager will gain important management habits for when the company is bigger. Analyzing the business in real time and monitoring the evolution of indicators is an essential step for the growth of a business.

PDCA Cycle

PDCA is initials to plan, do, check and act. It is a management technique linked to the improvement of a company’s processes. Its purpose is to solve problems, pointing out the causes for potential deviations and productive failures. This process makes the organization of the company more efficient in the long run and it is essential that it be applied from the moment of creation of a business, so that the improvement can be continuous.

Decision tree

This management technique is used to evaluate risks, costs and benefits of a project from a certain number of probabilities. To start the decision tree process, you need to go by putting the decisions that need to be made in the short term, the risks involved, what the cost associated with decision making is and what benefit you can get from it. The goal is to put all possibilities and evaluate which decision is most beneficial to the company!

7 Management tools that all business owners should use

In busy day-to-day business, it is not always easy to manage all projects and tasks. Fortunately, there are applications and management tools that simplify life if they are well used. In this article we present you 7 applications and management tools that all entrepreneurs should use!

Dropbox

Dropbox is a service for storing and sharing files. Its concept is based on Cloud Computing and through this service (free to a space limit), you can create a virtual folder on your computer that will be stored in the cloud and share it easily with anyone you want. You can modify and work on the folder as if it were a normal folder and all the files are protected even if something happens with the computer.

PDCA Cycle

The PDCA cycle is a fundamental management tool for your company because it follows 4 indispensable steps for its good operation and efficiency. The acronym PDCA means to plan, do, check, act). Applying this technique to all tasks and departments of a company ensures the optimization of resources and the constant improvement of individual and collective performance.

Analysis of KPIs

A KPI – key performance indicator – is a value that demonstrates if the company is achieving its main objectives. The company can and should have well-defined KPIs. In the same way, each department and employee must know their KPIs so that they can work towards their goals and help the company to grow. “If we don’t know where we are going any way is good”: in this way, it is indispensable that each employee knows his role in the company so that he can guide his daily work in order to reach all his objectives.

MindMeister

MindMeister is an online mind map that lets you add ideas to a layout so that all your thoughts related to a particular project are organized on the screen so you can make decisions more easily. It is a practical and quick way to organize information.

ERP

Enterprise resource planning (ERP) is the management software that manages the entire enterprise and is the most basic tool a business should have. ERP controls all of your company processes and is a very important tool to manage and decide with confidence.

Google Analytics

Google Analytics lets you review the status of your website. In today’s world, where we all live online, the website performance level is an essential indicator for measuring business success. This tool is free and easy to use and allows you to know the number of visits, origin of visits, most viewed pages, among many other indicators that will allow you to improve your website.

Real-time data analysis

The business world is increasingly accelerated and it is essential that a manager knows, at every moment, what is going on in his company. Analyzing reports with a few days means having a reactive action to the events, which can cause damages to the company. Thus, real-time data analysis is increasingly essential in the business world. Multipeers is a BAM system that allows you to analyze the business to the minute, through a platform where all the information of the company, from the diverse sources of data is found. This allows faster and highly effective decision making.

 

Learn about the advantages of the BAM system and find how these tools can help your business!