‘Well Begun is HalfDone’ — you must have heard this. The meaning of this Proverb is that a project started well ensures further success with fewer efforts.
Before starting any work, pondering about its outcome is a common phenomenon. There is always thought whether we will be successful or will be a victim of failure. This thought, if taken positively, stimulates us to start work in the best and planned way, empowering us to step in the game with strong preparation.
The first blow without a sturdy foundation takes us away from the goal. Alternatively, setting foot in with groundwork makes us realize that what we should take care of before and during the entire process.
Knowing the first step’s fringe benefits, let’s discuss the groundwork to be done before taking the golden step into business.
Just visualize, how smooth will the journey ahead be if we know all the obstacles ahead, and figure out their remedies in advance. This will not be less than any joyride and will also ensure our further victories. Our thoughtfully taken step will be full of enthusiasm and faith, and this spirited beginning will take us further for miles, isn’t it? So, why not begin with the issues first?
Every business should have clarity on the following issues:
- What is the current status of Business in terms of –
- Turn Over
Ignoring these data and facts can never allow us to succeed. These data represent the true picture of the business and acts as the catalyst for further plans. After collecting the facts about sales and profitability, analyse the current status of the business. This will lead us to set future goals.
- What is the Goal?
Running a business without a target is like sitting on a bus without knowing where it is going. It leaves us with no choice but to accept whatever the result or destination comes after the completion of the journey.
On the flip side, set the goal and get rewarded with the sought-after outcome. Based on the current data, set the goals for the future and plan to achieve them in the scheduled time.
These two steps help in picking the problems in the existing system that is affecting our sales, turn over or profitability, and awaken us to strategize it before it gets too late.
What should be the approach to make a hassle-free plan?
Eradicate the Problem — Go for the Root Cause
Resolving an issue superficially without identifying the actual cause keeps the problem in its present condition. It can be hammered out for always by going down deep to the root cause and eliminating it.
By examining each area deeply, we can find out the actual cause of the problem. As many times we pick the wrong cause and act accordingly. It consumes time and efforts both, resulting in disappointment.
Check every department minutely including self-work. It’s been observed that many times the business owners themselves are the main cause of bottlenecks. Managing various departments single-handedly affects the quality and output. Resolving this issue escalates the growth multiple times.
To find the root cause of problems in a particular department, scrutinize it at every layer.
Every business is divided into departments. Before starting a business, understanding these departments is of utmost importance. Let’s have a look at different layers of few departments.
Department of Marketing
In the Marketing department layers to scrutinize includes Product Management, Marketing Strategies, Marketing Channels, Product Pricing, Advertising etc. To eradicate the issue, each of these areas needs screening instead of replacing the manpower. Replacement cannot resolve the issue which is imbibed in the system.
Department of Sales
In the same way, the Sales department may have its issues related to sub-layers like Sales Management Process, Training of Sales Team, Lead Management, Negotiation Process etc. Without delving into each sub-department finding the real cause of the issue remains paradoxical.
Department of Financial Accounting
Funds and Cash flow management is also a very important part of a business. It demands proper planning to keep the cash flowing and to manage the bills and invoices on time. Any minute issue existing in any sub-department may lead to huge losses in business.
On-time delivery is always appreciated by the customers, where delivering quality product add on the value to the business. Customer Support System to assist customers during the whole process and even after providing the services helps remarkably in business growth.
Hiring the right candidate and creating a core team through appropriate training is a vital feature of any business. None of the business can imagine success with unskilled and inefficient employees. Monitoring their performances and taking essential steps to enhance efficiency is a requisite for team handling.
The main role of management is to strategize, monitor, evaluate and take decisions. Data and statistics are the important features that assist management in doing their job persistently.
Apart from this basic start-up knowledge, a true businessman is supposed to keep learning and upgrading himself through books, self-learning programs and by focusing on the root causes of the issues.
Through excellent planning and groundwork for all the related departments, one can enter the business world assuredly with a bang.