How to Sustain Business Growth – Small Business Tech Talks
Welcome Small Business Leaders! We’re an online and in-person small business technology enthusiast group. We focus on helping each other discover technology, marketing, website tools and tactics to grow and improve small businesses. We’ll meet every week for 30 minutes to share what we’ve learned that can help our fellow business owners and leaders. We’ll have a focus topics with a 5 minute introduction to help us learn about something new/helpful from various experts. To Learn more and join one of our upcoming meetings, every Friday for free, visit our Meet Up page or click the button below: https://www.meetup.com/Small-Business-Tech-Talks
Small Business Weekly Tech Talk - Week 2
Thanks to all who joined. We discussed various topics around technology. Here are the tools that we learned about.
Non-profit help: catchafire.org
Volunteers help organizations with their expertise— thanks Anil!
Non-profit help: philanthropitch.org
Grow non-profit through funding — thanks Casey!
Keyword research: answerthepublic.com
Great keyword searching and understanding tool— thanks Anil!
Discussion: How to Sustain Business Growth
Anil Karakkattu, a business management consulting firm (bha-consulting.com). He refines strategy and processes, in business sustainability and growth. He focuses on IT, manufacturing, non-profit sectors, among various others. This is a summary of Anil’s talk:
Starting a business is exciting. Next biggest challenge is about growing the business. Then it’s how to sustain over the long term. Lots of businesses don’t survive after 5 years, or especially after 10 years. Only 40% make profit. Top reasons for failing: cash flow, lack of funding/marketing, etc. Acquiring new clients and employees can also be challenge. It’s hard for companies to be competitive with so many similar services.
Anil helps businesses by focusing on three areas:
- Where do you want to lead your organization long term?
- What is your vision/mission of your company?
- Lots of different tools (SWOT analysis)
- What’s the current situation of your business?
- Based on SWOT, you set a goals and objectives
- Create an action plan
- Look at competitors to see what they’re doing; they’re established business. It’ll give you a sense how to position your business.
- Streamline operations
- Performance management
- Structure of organization
- People, development, processes
- Design, plan, control operations
- How do I reduce the cost of my operations?
- Set operations goals aligning with vision/mission of company?
- Use framework to reduce caos
- Can we standardize a process?
- Can it be redesigned?
- What about reengineering?
- Six Sigma, Lean Manufacturing, Kanban
Thanks so much to Anil Karakkattu for sharing his expertise with the group! Please visit www.bha-consulting.com to learn more and get in touch, if you’re interested in working with BHA consulting.