Checklist for Starting a CBD Business: Essential Ingredients for Success
If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a CBD business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!
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A Step by Step
Guide to Starting a Small Business
This is a
practical manual in a PDF format, that will walk you step by step through all the
essential phases of starting your CBD business. The book is packed with
guides, worksheets and checklists. These strategies are
absolutely crucial to your business' success yet are simple and
easy to apply.
Copy the following link to your browser and save the file to your PC:
https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf
Coaching Your Staff
For the owner-manager, delegation
does not end with good control. It involves coaching as well,
because management ability is not acquired automatically. You
have to teach it.
Just as important, you have to keep
your managers informed just as you would be if you were doing
their jobs. Part of your job is to see that they get the facts
they need for making their decisions.
You should be certain that you convey
your thinking when you coach your assistants. Sometimes words
can be inconsistent with your thoughts. Ask questions to make
sure the listener understands your meanings. In other words,
delegation can only be effective when you have good
communications.
And above all, listen. Many
owner-managers get so involved in what they are saying or are
going to say next, that they do not listen to the other person.
In coaching a person so he or she can improve, it is important
to tell why you give the instruction. When a person knows the
reason, he or she is better able to supervise.
Allow Staff to Work
Sometimes you find yourself involved
in many operational details even though you do everything that
is necessary for delegating responsibility. In spite of defining
authority, delegating to competent persons, spelling out the
delegation, keeping control, and coaching, you are still
burdened with detailed work. Why? Usually, you have failed to do
one vital things. You have refused to stand back and let the
wheels turn.
If you are to make delegation work,
you must allow your managers freedom to do things their way. You
and the company are in trouble if you try to measure your
assistants by whether or not they do a particular task exactly
as you would do it. They should be judged by their results - not
their methods.
No two persons react exactly the same
in every situation. Be prepared to see some action taken
differently from the way in which you would do it even though
your policies are well defined. Of course, if an assistant
strays too far from policy, you need to bring him or her back
into line. You cannot afford second-guessing.
You should also keep in mind that
when an owner-manager second-guesses assistants, you risk
destroying their self-confidence. If the assistant does not run
his or her department to your satisfaction and if his or her
department to your satisfaction and if his or her shortcomings
cannot be overcome, then replace that person. But when results
prove his or her effectiveness, it is good practice to avoid
picking at each move he or she makes.
Effective Supervisory Practices
If an employee's job satisfies his or
her needs, the employee responds more favorably to the job.
This may happen, for example, when an employee is given the
responsibility for managing the office on his or her own, and is
recognized for doing it well. Or it may occur when a sales
representative is assigned full responsibility for developing
new business as well as maintaining existing customers in a
territory and is recognized for the accomplishment. Such
employees tend to take their responsibilities seriously, act
positively for the firm, and are absent from work only rarely.
The key point is that when a job
satisfies needs, the employee may bring greater commitment to
the job. Some needs common to all individuals are basics like
food, shelter, and security for the future. Normally a fair wage
level and a feeling of security that the job will continue, tend
to satisfy these needs. Such needs, however, can be satisfied in
most jobs today, and they do not alone evoke heavy commitment by
employees to your firm.
Other needs must also be satisfied.
Most of these are related to:
a. The firm's personnel practices
such as complaint handling or vacation scheduling
b. Working conditions
c. Supervisory practices such as
discipline, or the way instructions are given, and
d. Total compensation, including
benefits practices.
If what the firm provides in any of
these aspects is seen by the employees as much poorer than what
other firms in the area provide, dissatisfactions will result.
On the other hand, improvements above an acceptable level
generally do not bring about greater employee commitment in the
long run.
For example, total disregard for
employee complaints (personnel practices) can lead to serious
problems for the firm. When employee complaints are
handled well, serious problems tend to be precluded from
developing but there is no major gain in deep employee
commitment to the job.
What then does bring about a serious
commitment to the job and firm?
There are five factors that generally
cause a deep commitment to job performance for most employees.
These are:
1. The work itself
- to what extent does the employee see the work as meaningful
and worthwhile?
2. Achievement -
how much opportunity is there for the employee to accomplish
tasks that are seen as a reasonable challenge?
3. Responsibility
- to what extent does the employee have assignment and the
authority necessary to take care of a significant function of
the organization?
4. Recognition -
to what extent is the employee aware of how highly other people
value the contributions made by the employee?
5. Advancement -
how much opportunity is there for the employee to assume greater
responsibilities in the firm?
These five factors tend to satisfy
certain critical needs of individuals:
One need is the feeling of being
accepted as part of the firm's work-team.
Another need is for feeling important
- that the employee's strengths, capabilities and contributions
are known and valued highly.
A third need is for the chance to
continue to grow and become a more fully functioning person.
If the kinds of needs just described
are met by paying attention to the five factors previously
listed, an owner/manager will have taken significant steps
toward gaining the full commitment of employees to job
performance. To do this, several practical strategies can be
used, such as:
Establishing confidence and trust
with your employees through open communication and the
development of sensitivity to employee needs
Allowing employees participation in
decision-making which directly affects them
Helping employees to set their own
work methods and work goals, as much as possible
Praising and rewarding good work as
clearly and promptly as inadequate performance is mentioned
Restructuring jobs to be challenging
and interesting by giving increased responsibilities and
independence to those who want it, and who can handle it
As Soon as You have Determined what Kind of
business you want to Begin and The investment requirements, you
are ready to decide on
a location. The amount of competitive
companies already in the area should affect your choice of
location. Many regions are
overloaded with service stations
or particular types of restaurants. Check on the number of your
kind of company from Census
figures, the yellow pages, or by
personally checking out the place.
Factors Aside from
the Possible market, availability of employees And number of
aggressive companies have to be considered in
selecting a
location. For example, how adequate are utilities - sewer,
water, electricity, gas? Parking facilities? Fire and fire
protection? What about housing and environmental things such as
colleges, cultural and community actions for workers? What is
the
average price of this location in rents and taxes? Assess
on zoning regulations. Assess the business of the neighborhood
business-people, the aggressiveness of civic organizations. In
short, what's the city soul? Such factors should give you a clue
to
the city or city's future.
Chambers of Commerce
and nearby universities usually have created or Are familiar
with local surveys that may provide answers to
these
questions and the a number of other questions that will happen
to you.
Next you have to decide in what part of city to
locate. If the city is Very little and you're establishing
service or retail
business, there'll probably be little
option. Just one shopping area is present. Cities have outlying
shopping facilities along
with the central dining area, and
stores spring up along principal thoroughfares and neighborhood
streets.
Consider the shopping centre. It's different
from other locations. The shopping center building is
pre-planned as a merchandising
unit. The website has been
deliberately selected by a programmer. On-site parking is a
frequent feature. Clients may drive in,
park and do their
buying in relative safety and speed. Some centers provide
weather protection. Such amenities make the shopping
centre a
valuable location.
There are also some limitations you
should know about. As a tenant, You become a part of a merchant
group and must pay your pro
rata share of their budget. You
must keep shop hours, light your windows, and place your signs
based on established rules. Many
communities have
restrictions on evidence and the center management may have
additional limitations. What's more, if you are
thinking
about a shopping center for your first store you could have an
additional problem. Developers and owners of shopping
centers
look for successful retailers.
The kind and Wide Range
of merchandise that you carry helps determine the Type of
purchasing place you choose. By way of example,
clothing
shops, jewelry stores and department stores are more likely to
be more prosperous in shopping districts. On the flip
side,
grocery stores, drug stores, filling stations, and bakeries
usually do better on principal thoroughfares and local streets
beyond the shopping districts. Some sorts of shops customarily
pay a low rent per square foot, while others cover a high rent.
At
the"low" class are furniture, grocery and hardware stores.
At the"large" are cigar, medication, women's furnishings, and
department stores. There's no hard and fast rule, however it is
helpful to see in what type of place a store like yours most
often
appears to flourish.
After determining an area
ideal for your type of business, Obtain as many details as
possible about it. Examine the competition.
How many similar
companies are located nearby? What does their sales volume seem
to be? If you are establishing a shop or service
transaction,
how far do people come to exchange in the area? Are the traffic
patterns favorable? If most of your customers will be
local
inhabitants, study the population trends of the area. Is
population increasing, stationary or decreasing? Are the people
native-born, mixed or mostly foreign? Are fresh cultural groups
coming in? Are they mostly laborers, clerks, executives or
retired
men? Are they all ages or principally retired, middle
aged, or young? Judge purchasing power by checking average house
rental,
typical property taxation, number of telephones,
number of cars and, even if the figure can be obtained, per
capita income. Larger
shopping facilities have this sort of
information available, and will ensure it is available to
serious potential tenants.
Zoning ordinances, parking
availability, transport facilities And natural obstacles - such
as bridges and hills - are important
considerations in
locating any sorts of company. Possible sources for this
information are Chambers of Commerce, trade
associations,
real estate businesses, local newspapers, banks, city officials,
neighborhood retailers and personal observation. If
the
Bureau of the Census has developed census tract information to
the specific area in which you are interested you'll find this
especially valuable. A census tract is a small, permanently
established, geographical place within a big city and its
environs.
The Census Bureau provides population and housing
characteristics for each tract. This information could be
valuable in measuring
your marketplace or service potential.
Choosing the actual site in a area might well be taking
what you May get. Very few buildings or plants will be suitable
and in
precisely the exact same time, accessible. If you do
have an option, be sure to consider the chances carefully.
For a manufacturing plant, think about the condition and
suitability Of the building, transport, parking facilities, and
also the
type of lease. For A store or service establishment,
assess on the nearest competition, traffic Flow, parking
facilities, road
location, physical aspects of the
construction, Kind of rental and cost, and the speed, cost and
quality of transportation. Also
Investigate the history of
the site. Find answers to these questions as: Has the Building
remained vacant for any length of time?
Why? Have various
types of Stores occupied it for brief periods? It may have
proved unprofitable for them. Websites on which many
businesses have failed should be avoided. Vacant buildings Don't
attract traffic and are usually regarded as poor neighbors,
therefore check on nearby unoccupied buildings.
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