The Essential Elements Of A Successful Business

October 24, 2017 9:58 pm

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If you are thinking about starting your own business, or you are in the beginning stages, you may find that every day is a learning curve. As you step tentatively into the business world, you may find that there are more elements to running a business than you initially thought. Luckily, we have a quick run down of the main elements of running a successful business, so if your business is currently missing any of these, you might want to think about adding them in.

Administration

Administration is a word which is sometimes misunderstood, many think it means anyone who completes filing and office related tasks, but actually the meaning of administration is a little different. Think of it like a computer, the administrator is the one appointed who can edit items, add accounts and install software. In your business, the administrators are the managers. As the CEO of your business you are the primary administrator. You make all of the big decisions and it is your choice how the business runs from start to end. Your line managers are also part of the admin staff, making sure that each department is performing correctly.

Marketing and Advertising

The creative hub of your business, the marketing department will usually consist of very trendy young people with a head full of whacky slogans and a knack for social media. The marketing department are responsible for the face you put out to the public. The technical side of the operation will work closely with an IT support company such as Prosyn to keep the system working as smoothly as possible, while the creative side will be busy creating clever content for your website and social media, as well as coming up with flyers to send out to customers and take to trade shows.

Production

The main conveyer belt of the business is where all the action happens, everything else in your business revolves around the product you sell or the service you provide. This department will involve a warehouse where your product will be bought in or manufactured, and then the packing area where online orders will be completed and sent through the post.

Sales

The suave men and women in suits with a clipboard in their hand will make up your sales department. These people are usually confident, self-assured and very good at sweet talking. They are the ones who will go out to retailers and independent buyers to sell your product on. They create clever and concise sales pitches to market your product and hopefully make a sale for the business.

Accounting

The most integral part of your business is the finance department. It is where the company’s expenses will be tracked, along with payroll and taxes. Accountants are very clever people with an eye for detail and will be able to work out where you can save money and what things are and aren’t necessary in the running of the business. They are the ones who will tell you whether you are making a profit or not.

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