Business Management 101

You don’t exactly need a business degree to own or manage your own company. You do need more than a great idea and a high-interest savings account to blow through, though. The tricks with managing your own company are knowing when you’re in over your head and from where you can get the help you need. One of the wiser things future business owners can do is get on top of what they’re going to need to know and where they can go for help.

Net Savvy

So much of our information is available on the internet these days. How many times have we gone to our favorite search engine and typed in something we want to know, only for it to appear mere seconds later? This is true for information on running your own business, too. There are webinars available on topics from managing human resources to social media marketing and everything else from reputable sources like Paypro and Source. You could also take business management courses completely online from places like Harvard, Duke, Stanford, and MIT, sometimes for free if you sign up on websites like edX or Coursera.

Then there are the articles. You can find articles on all the major pillars of running a business. Don’t know what those are? You’ll need to know before you begin writing your business plan. You also need to understand people: both the people your business will serve and the people your business will hire. If you can answer the question, “How will my company meet people’s needs?”, then you’re already one step ahead. The second step relies on your leadership and communication skills, and your ability to be flexible. You’ll also need to understand the mechanics of how your business will work and how it will compete against other companies. Don’t forget key activities around funding your dream, accounting for all of your supplies and expenses, and marketing your business to customers: both returning and possibly new ones, too. You can find detailed articles on the web to help you learn about or brush up on your skills in each of these areas.

Additional Help

If you’re in the United States, small businesses have a ready source of information at their fingertips. The government-run Small Business Administration exists specifically to help with all your small business needs. Their website is a treasure trove of knowledge about mentoring resources, sources of funding, how to write a business plan, marketing ideas and so much more. Both free and comprehensive, the SBA can help you with the basics of anything you need for your small business. Don’t count out their ideas for large companies, either. Some of the elementary principles of management apply to most businesses, regardless of size. While getting funding for a large business venture or marketing on a national scale is certainly different than for a small company, things like managing your staff and paying your taxes are necessary to know, regardless of the size of your business.

Acknowledging you need help running your dream business is the first step towards making your venture a success.