How To Make A Successful Business By Empowering Its Leader

How To Make A Successful Business By Empowering Its Leader

on Mar 4, 2020 in Entrepreneurship

How to make a successful business has been a topic of much debate amongst the UK government, business schools, and business leaders. The discussion has focused on how to remove perceived barriers to the success and growth of small businesses. Two main areas have been identified as needing significant intervention. These are increasing the flow of finance to small businesses in the form of loans and other funding mechanisms and improving business skills and entrepreneurship in the community. Resources showing business leaders how to be successful in business have been developed to empower them to more successfully manage and grow their companies.

 

Showing Small Business Leaders How To Be Successful In Business 

Business professionals are now starting to recognise that providing guidance on how to make a small business successful will empower any entrepreneur to more successfully run and grow a business. Part of this strategy is also a move to include entrepreneurship in the school curriculum. This is not wholly an altruistic move by the current business community. Increasing the available supplier base, whether in products or services, increases competition and, according to the free market philosophy, will concurrently reduce prices. Similarly increasing the number of successful businesses will increase the potential number of customers for their products and/or services. 

 

Whatever the motivation of the business community, there is little doubt that access to information about how to make a successful small business can create better business leaders. Unfortunately the advice, tips and guidance available are of variable quality and it is left to the small business leaders themselves to source what they consider to be high quality information. Recent surveys of current small business owners have shown that many have become disillusioned with available advice about how to make a successful business. Reasons given include the information given was too specific, it included too much jargon, it was long and unintelligible, or it meant they had to take time away from the business. They also noted it was often too theoretical and could not be applied in the real life business situations they face daily, did not appear to offer any steps to help development of business plans or processes.

 

 

 

SME Owners Need Quality Information About How To Make A Business Successful

What small business owners really need therefore is access to good quality information about how to make a business successful. They need to be able to get it before they have gone through a number of poorer articles, tools and courses which, in their experience, have not ‘worked’ and have turned them away from further training. Evidence from many sources including government surveys, business school research and business associations show that when SME owners have access to high quality information they become better business leaders. They demonstrate the ability to better navigate their businesses through changes in the world market and better plan the growth and development of their firms. 

 

Their companies grow in a more sustainable way with better cash flow, more efficient use of financial and human resources and better provision of products and services to their customers. This kind of resource and training has been available to large companies who can pay for expert consultants and make significant investments in management and staff training and development for a long time. Until now this level of training and guidance has not been available to the vast majority of small business owners and professionals at an affordable, economic price. Good quality information about how to make a small business successful takes a pragmatic approach, balancing fundamental business skills training with a combination of tools, techniques and skills which can be quickly applied to a business in any sector.

 

All in all, there is no denying that no one is born with the knowledge on how to be a good business leader. It is something that needs to be learned. There are a lot of good resources out there to help with this, yet there are also a lot of poor quality ones. Knowing how to find the good amongst the bad is really going to help you to be the best leader you can possibly be. This is something that you need to continue to work on. You should never stop learning.

 

 

Image credit:  Pixabay.com

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