31 Dec Creating the Right Structure for Your Business
Creating the Right Structure for Your Business
When we are setting up a small business, we are often on our own and don’t have the luxury of delegating tasks or building functional or an operational structure that supports the business. For many of us, it is a case of surviving on our wits one day at a time, and focusing on the income generating activities that keep the business alive.
But you can only do this for a while before you burn out, or the business collapses due to lack of resources. So why would anyone want to take on the risk of starting their own business? Some of us go into business because we have a great idea; others do it because they don’t want to work for someone else or in the corporate world; and there are some of us that do it simply because we have few if any other options.
Whatever the reason, if we want our business to grow to be anything other than a lifestyle business that simply pays the bills and a little bit more, then we have to start building structures and practices that support a bigger operation. This starts by looking at your internal environment and realizing where you are spending most of your time.
I have used a Mind Map to describe one possible configuration of the core functions within a business and some of the activities or practices that could be happening in each function. Click Here to view the Mind Map and an extended version of this article about business structure