Week 7- Progress Start-up Venture
What Is Working In My Business:
Know My Organization-
I compare my organization to industry standards using your CPA’s tools and resources. I know my business is not like anyone else in the industry, but I identify areas in other companies to help my business make different decisions about spending money significantly.
Be Flexible-
Revisiting my budget is a very healthy exercise for my business success. I don’t want to wait until the end of the year to compare my actual results to the budget; I will be behind the loop.
Build The Right Budgeting Team-
It’s essential to build the right team to create my budget. I understand that one person should not make a budget. That’s why I hired some great employees who will be held accountable for the account; then, they should influence creation within my business.
Follow Up, Follow Up, Follow Up-
After losing my first potential client because I didn’t follow up, my mind changed entirely about how I needed to be approaching my sales process.
What Is Not Working in My Business:
Utilize the Right Tools-
Most accounting software has a built-in budgeting tool, but I get frustrated with your Excel budget, so I need to take a step back and check whether I have a current software that has a tool I could utilize to assist.
Working From Home- I wanted some employees to work from home, but I've come to some conclusions on why it is not a good idea. I have to change it, so it is fair for everyone.
It Would Be Unfair to Allow Select Employees to Work from Home-
If I get some of my employees to stay home and some to come to their offices, it will be a problem. It will cause divisions among my staff. Those stuck in the office will resent others who get to work from their homes' comfort.
Lack Of Control
Employees that are not in the office is much more difficult to control. Having everyone work in the same building means being able to have better control and walk from the desk-desk to communicate with my staff.
Missed Opportunities For Collaboration-
Even though there are great technologies like video conferencing. When workers are forced to spend time around each other, they learn to communicate in more profound ways than remote technology allows.
How do I feel about my project:
I love my Home Decor business because it allows me to work on many different, exciting topics, such as designing custom artwork, helping on a budget, and make a family happier or just a single person. My company is very hardworking and decides to help. There is a sense of pride in that. I feel like the luckiest person in the world to be able to run my own business. It's inspired by unique creativity among one or multiple individuals. I love that I get to create things that my clients will use and cherish. Also, I love creating my business because I get to decide whom I am hiring. I ended up hiring my sister to check emails and social media apps. She enjoys doing that, plus I get to see her more often.
What I’ve Learned About Running A Business:
Success Comes To Those Who Work-
Every time I put in work, I get a proportional amount of results and successes from that work. The more work that I put in, the more success that occurs in my life
Sales Is An Important Skill To Learn-
Learning not just to “sell,” but also to communicate with people in a way that makes them interested in an essential skill, not only in business but also in life.
Don’t Be Afraid To Take Risks-
If you don’t take risks, you aren’t going to achieve the level of success you want to accomplish in your business. I understand that risks are sometimes bad, but taking risks that you have faith in might be your path to success.
What I’ve Learned From Myself:
Burned Bridges Stay With You For Life-
I understand working yourself; you realize how meaningful all relationships are. A burned bridge will stay with you forever, and you quickly learn that forgiveness is an essential tool for success.
Beliefs Aren't As Important As Your Behavior-
How you act and talk to others about what you believe in is more important than the actual belief. Treat others with kindness and respect, no matter how different their views are.
Almost Everything Is Simple, But Almost Nothing Is Easy-
As I started to grow my own business, I begin to learn most everything is relatively simple. I recognize that I don't worry so much and that things seem to fall into place. Understanding this and accepting it as truth, however, is never easy.
