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5 Business Management Tips Every Entrepreneur Should Know

5 Business Management Tips Every Entrepreneur Should Know

Being an entrepreneur is a challenge. It requires a lot of work which means that entrepreneurs have a busy life. They have a lot of work to do as they have to oversee each and every aspect of the business. Being an entrepreneur can be overwhelming. To achieve success, it is important that the entrepreneurs have everything under control.

If you want to run a smooth and fruitful business, then you need to find ways of tackling all the challenges and minimizing the risk factor. Here are some of the management tips that every entrepreneur should be familiar with.

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1. Managing finances:

One of the most important aspects of running a successful business is to handle the cash flow efficiently. Being unable to keep track of the cash flow is the biggest management failure. The first thing that you need to determine to administer the business properly is making sure that you have a strong financial base. There should always cash in the bank for the firm. You can always take advantage of technology. There is a lot of different software that will allow you to keep an eye on the expenses and profits of the business. It is important to understand the finances of the firm. You can always take online MBA without GMAT to have a better understanding of the financial matters.

2. Keeping track of resources:

Tracking the time is essential for managing tasks with efficiency. It is important to know that the time of your employees is spent on productive activities. You can make the best use of time by keeping time sheets. If you are creating content for your website, then you need to know how much quality content you can produce in the given time. You need to create a schedule in which you specify how much time is going into creating the content, editing, proofreading it and then finally publishing it. There are so many time tracking tools that will assist you in keeping track of your schedule. It will help make it much easier to set goals and keep up with your schedule. If you are in sales, then you need to know exactly how much time the whole sales process is taking so that you can satisfy customers by delivering in promised time.

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3. Prioritizing tasks:

It is important to understand the difference between important tasks and urgent tasks. Knowing the difference will help in prioritizing the tasks. There are a lot of tasks that are crucial, and they need to be accomplished on priority. You need to divide the tasks into different categories. You should also consider certain factors such as deadlines, importance, urgency, and goals, etc. to see if the something falls into the urgent or important category.

If you are sales business, then you will need to prioritize while keeping a future flow of revenue in mind and maintaining a customer base. In management, the priorities are based on tasks that motivate growth and achieve strategic goals of the company.

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4. Managing interruptions:

The life of an entrepreneur is not easy. To make things a little easier, it is important that you have a plan. While coming up with a time managing strategy, it is essential that possible interruptions are also considered. As an entrepreneur, you need to have time for everything. You have to deal with the employees, do follow-ups, etc. You are going to be interrupted a lot while working so always make sure that the schedule is flexible enough to accommodate those interruptions.

5. Managing marketing:

Marketing is one of the most important parts of running a business. If not handled correctly it can also become the most daunting task. Smart marketing requires a perfect use of resources. There are so many marketing opportunities available these days that it can be difficult to choose the ones that are best suited for the business. It is important to understand that effective marketing is no longer dependent on big budget. It is more about managing the platforms and resources efficiently.

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It is essential that you understand the importance of focused and relevant search. You should have a basic understanding of SEO and other internet marketing terms. Successful marketing depends on managing multiple channels at the same time. You should focus both on offline and online marketing channels. Apart from social media, you should look at billboards, newsletters, etc.

Featured photo credit: Polarity via polarityinternational.com

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Kevin Jones

Small Business Enthusiast & Advisor

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Last Updated on May 22, 2019

50 Great People To Follow On LinkedIn, No Matter Your Industry

50 Great People To Follow On LinkedIn, No Matter Your Industry

LinkedIn is an excellent platform to network with great people to help you in your career and businesses. However, with over 575 million people on the site, who should you follow? This list will steer you to the right people to follow, organized by categories of expertise.

Job Search Experts

You will likely have several jobs throughout the course of your career, and you will constantly need advice on new trends and strategies out there in the job market. Here are the LinkedIn experts who you should follow on these matters.

1. Liz Ryan is the CEO and founder of Human Workplace. Her articles on job searching are filled with creative and colorful cartoons.

2. Lou Adler is the author of The Essential Guide for Hiring and Getting Hired.

3. Dr. Marla Gottschalk will help you make an impact in a new job.

4. Hannah Morgan runs CareerSherpa.net, where she gives expert advice on job searching and how to be more visible online.

5. Alison Doyle is the CEO and Founder of CareerToolBelt.com.

Management Experts

They say that people leave managers, not jobs. These experts in LinkedIn will help you become your employees’ dream manager.

6. Jeff Weiner. How can we leave out the CEO of LinkedIn himself?

7. Nozomi Morgan is an executive coach. She can help you transition from a boss to a true leader.

8. Mickey Mikitani is the CEO of Rakuten. He constantly shares his expertise in managing a global player in e-commerce platforms.

9. Andreas von der Heydt was the head of Amazon’s Kindle Content and now the Director of Talent Acquisition. He has extensive experience in management, branding, and marketing.

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Productivity Experts

By maximizing your productivity, you can win in all aspects of life. The following LinkedIn experts will help you win big in your career.

10. Gretchen Rubin is a happiness coach and the bestselling author of the The Happiness Project.

11. Carson Tate is the founder of Working Simply. She advises us to include play in our schedules.

12. Greg Mckeown is an essentialist. Part of being an essentialist is saying no to many things so that we can focus on the things that matter.

13. Brian de Haaff, CEO of Aha! Labs Inc. provides strategies on how to be productive and happy at work at the same time.

Marketing Experts

14. Sujan Patel is VP of Marketing at When I Work, an employee scheduling software. He is an expert in content marketing and he even shares his ideas on content marketing in 2020.

15. Megan Berry is the Head of Product Development at Rebelmouse, a content marketing and AlwaysOn powerhouse.

16. Sean Gardner will help you navigate the social media landscape. This includes how to use different platforms to help accelerate your career. He is also the bestselling author of The Road to Social Media Success.

17. Christel Quek is an digital and marketing expert. She is the VP of South East Asia at Brandwatch. Their products help businesses utilize social media data to make better business decisions.

18. Jeff Bullas is a digital marketing expert. His blog has over 4 million readers annually.

19. Michael Stelzer is the CEO and Founder of social media powerhouse site, Social Media Examiner.

20. If you’re looking for inbound and content marketing expertise, follow Dharmesh Shah, Founder and CTO of Hubspot.

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21. David Edelman is a McKinsey partner and is at the helm of the Digital Marketing Strategy Practice Department.

22. Dave Kerpen leads the social media software company Likeable Local. He is the author of Likeable Social Media: How to delight your customers.

23. Clara Shih is the CEO of Hearsay Social and the author of The Facebook Era.

24. Aaron Lee is Grand Master of Customer Delight at Post Planner. He is an excellent resource for everything social media.

25. David Sable is the CEO of Y&R, one of the largest advertising firms in the world.

26. Content marketing trumps traditional marketing these days, and who else better to lead you in this area than Joe Pulizzi, Founder of Content Marketing Institute.

Personal Branding Experts

Part of what we market in our personal career is our brand. When people hear your name, what kind of brand comes into their mind? What traits and qualities do they associate with you?

Here are some personal branding experts from LinkedIn to improve your own brand.

27. Dorie Clark is the author of Stand Out and Reinventing You. He can help you craft the professional image you’ve always wanted.

28. Dan Schawbel is the managing partner of Millennial Branding. If you’re a millennial, Dan is the guy to help you craft your personal brand.

Other Notable Experts to Follow

29. Lisa Gates is the expert to follow if you’re negotiating for higher salaries and promotions.

30. If you’re a Baby Boomer, Marc Miller will help you navigate the continually changing landscape of the workplace.

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31. To avoid getting your resumé moved to the “No” pile, read Paul Freiberger’s excellent advice.

32. James Caan provides insightful ideas on careers in general. He is also a serial entrepreneur.

33. Jeff Haden writes on various topics, such as leadership and management. He is the owner of Blackbird Media.

34. If you’re looking for expert business advice on getting new customers and keeping them, follow Jay Baer.

35. Suzanne Lucas, aka Evil HR Lady, is a great human resources specialist.

36. If you need help in using Twitter to boost your career, Claire Diaz-Ortiz can guide you in the right direction.

37. Ryan Holmes is the CEO of Hootsuite, a social media management tool.

38. Customers are the lifeblood of a business and Colin Shaw focuses on revolutionizing this customer experience.

39. Brian Solis often reflects on the future of business and how technology can disrupt our world.

40. Nancy Lublin provides advice on more lighthearted topics, which are perfect after a long day’s work. She is the CEO behind Dosomething.org, a portal designed for social change; and the founder & CEO of Loris.ai and Crisis Text Line.

41. Katya Andresen provides advice on how to manage your career. She was the CEO of Cricket Media and now responsible for the SVP Card Customer Experience at Capital One.

42. Gallup has created a system to test what your strengths are and how to use them at work. Jim Clifton is the CEO of Gallup.

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43. Adam Grant is a Wharton Professor and the author of Give and Take, which provides advice on why being helpful at work can accelerate your career.

44. Hunter Walk is a partner at Homebrew Venture Capitalist Company and has specialty in product development and management.

45. If you’re running a nonprofit organization, follow Beth Kanter for expert advice on this area.

46. Emotional Intelligence is necessary to succeed in your career, and Daniel Goleman is your expert for that.

47. Rita J. King connects science, technology and business.

48. Tori Worthington Rose is a Creative Director at Mary Beth West Communications, LLC. She has extensive experience in sales and digital media.

49. If you’re looking for some advice on how to use writing and personal content marketing to boost your career, follow Ann Handley.

50. Tim Brown is the CEO at IDEO and shares his insights on Leadership and Creativity.

These are just some of the key thought leaders and movers in various industries. They will provide you with constant inspiration, as well as the willpower to pursue the career that you’ve always wanted. Their stream of expert ideas in their respective fields will help you become well-equipped in your professional pursuits.

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Featured photo credit: LinkedIn Sales Navigator via unsplash.com

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