Research has shown that 90% of small business failures have quoted a lack of management skills as one of the main reasons why businesses fail. There are a number of core management skills needed to keep the business on the fast track towards profitability, growth and success. Here we will see one area that has the biggest impact on business in several times – technology management.
Standard operating environment
Build a standard operating environment and a standard set of desktop applications make life simpler and easier for you to manage your business system network. Your operating environment deals with networks and operating systems that you use while desktop applications include standard word processing, spreadsheets, databases, and other types of administrative types such as e-mail. Given this environment is a system where your business system will operate, it is important you have a comprehensive understanding of how it is connected and how to operate.
Accounting system and payroll
You need to manage evaluation, selection and implementation of accounting packages and appropriate payroll systems for managing bookkeeping, accounting, payroll, financial reporting and tax issues related to your business. Comprehensive understanding of these things, will help you in managing your business finances and allow you to work proactively with your accountants and tax specialists.
Internet Bank
Internet Banking allows you to make payments and allow direct deposits directly. It saves a lot of time, allowing you to bank at your convenience rather than standing without thinking in the bank queue for what looks like forever. It also allows you to complete reconciliation quickly and easily by downloading transaction files and importing it into your accounting system.
Retail point sales system
Point of Sale Systems is very important for retail businesses and many business services. This system captures transaction details at the point of sale and consumes the accounting and customer relationship management system.
Customer relationship management system
The customer relationship management system is the center of most business operations and is important to understand the database system itself and how it interacts with other systems at work.
Supplier management system
More and more, suppliers provide their own supply management system to their customers to streamline their own operations. It is very important to understand this system for effective orders and supplies (especially time) from your own operation.
E-commerce website
Knowledge of e-commerce is almost a necessity for most businesses. You must be able to understand the internet and can also apply and manage website shops just as you need to be able to manage your real world shop. If you do not have expertise in this field, I suggest you coopitate the service of experts in this field and ask them to empower you by teaching you the skills needed to manage your website effectively. Skills include building web metrics, search engine optimization techniques on online marketing techniques.
E-mail marketing and social media
Technological progress has seen the emergence of social media sites such as Twitter, Facebook and LinkedIn. Understanding the strength of social media marketing, combined with more traditional email marketing / email autoresponder methods, is very important for the success of your small business marketing. You need to know how these sites work and how each can work interactively to promote and grow your small business.
Understanding the power of technology and what can be done to increase your capacity to provide very important. Knowing how to capture and utilize the various activation technologies can provide your business with the competitive advantage needed to compete evenly
