Checklist for Starting a Microfinance 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 Microfinance 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!
For more insightful videos visit our Small Business and Management Skills YouTube Chanel.
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 Microfinance 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
Digging Up A Garden
An old man lived alone in Minnesota.
He wanted to spade his potato garden, but it was very hard work.
His only son, who would have helped him, was in prison. The old
man wrote a letter to his son and mentioned his situation:
Dear Son,
I am feeling pretty bad because it
looks like I won’t be able to plant my potato garden this year.
I hate to miss doing the garden because your mother always loved
planting them. I’m just getting too old to be digging up a
garden plot. If you were here, all my troubles would be over. I
know you would dig the plot for me, if you weren’t in prison.
Love,
Dad
Shortly, the old man received this
telegram:
‘For Heaven’s sake, Dad, don’t dig up
the garden! That’s where I buried the guns!’
At 4 a.m. the next morning, a dozen
FBI agents and local police officers showed up and dug up the
entire garden without finding any guns.
Confused, the old man wrote another
note to his son telling him what had happened, and asked him
what to do next.
His son’s reply was:
‘Go ahead and plant your potatoes,
Dad. It’s the best I could do for you from here.’
Moral of the story: No matter where
you are in the world, if you have decided to do something deep
from your heart, you can do it. It is the thought that matters,
not where you are or where the person is.
The Secret of
Growing Good Corn
There once was a farmer who grew
award-winning corn. Each year he entered his corn in the state
fair where it won a blue ribbon.
One year a newspaper reporter
interviewed him and learned something interesting about how he
grew it. The reporter discovered that the farmer shared his
award winning corn seeds with his neighbors.
"How can you afford to share your
best seed corn with your neighbors when they are entering corn
in competition with yours each year?" the reporter asked.
"Why sir," said the farmer, "didn't
you know? The wind picks up pollen from the ripening corn and
swirls it from field to field. If my neighbors grow inferior
corn, cross-pollination will steadily degrade the quality of my
corn. If I am to grow good corn, I must help my neighbors grow
good corn."
He is very much aware of the
connectedness of life. His corn cannot improve unless his
neighbor's corn also improves.
So it is with our lives. Those who
choose to live in peace must help their neighbors to live in
peace. Those who choose to live well must help others to live
well, for the value of a life is measured by the lives it
touches. And those who choose to be happy must help others to
find happiness, for the welfare of each is bound up with the
welfare of all.
The lesson for each of us is this: if
we are to grow good corn, we must help our neighbors grow good
corn.
It is possible to give away and
become richer! It is also possible to hold on too tightly and
lose everything. Yes, the generous man shall be rich! By
watering others, he waters himself.
The Lion and The cougar
A pointed fable is told about a young
lion and a cougar. Both thirsty, the animals arrived at their
usual water hole at the same time. They immediately began to
argue about who should satisfy their thirst first. The argument
became heated, and each decided he would rather die than give up
the privilege of being first to quench his thirst.
As they stubbornly confronted each
other, their emotions turned to rage. Their cruel attacks on
each other were suddenly interrupted. They both looked up.
Circling overhead was a flock of vultures waiting for the loser
to fall. Quietly, the two beasts turned and walked away. The
thought of being devoured was all they needed to end their
quarrel.
Handle a Business successfully, handle a
business, is the key to the establishment and growth of the
company. The trick to
successful management is to inspect the
market environment and create employment and profit
opportunities that provide the
potential growth and fiscal
viability of the business.
Regardless of the Importance
of management, this area is often misunderstood and poorly
executed, primarily because people focus
on the output rather
than the procedure for management.
Toward the end Of the
1980s, business managers became absorbed in improving product
quality, sometimes ignoring their role
vis-a-vis personnel.
The focus was on reducing costs and raising output, while
ignoring the long-term advantages of motivating
personnel.
This shortsighted perspective tended to raise profits in the
short term, but made a dysfunctional long-term small
business
environment.
Simultaneously With the growth in concern
about quality, entrepreneurship attracted the attention of
business. A sudden wave of
successful entrepreneurs seemed to
leave sooner management concepts obsolete. The press centered on
the new cult heroes Steve Jobs
and Steve Wozniack (creators
and developers of the Apple Computer) while disregarding the
marketing and organizing talents of Mike
Markula, the
executive responsible for Apple's business plan. The story of
two guys selling their Volkswagen bus to construct the
first
Apple computer was more amorous than that of their
organizational genius that allowed Apple to grow, market and
ship its
products while rapidly becoming a significant
business.
In big Businesses, effective handle business
skills necessitates preparation. Planning is essential for
developing a firm's
potential. But many small businesses
don't recognize the need for long-range plans, because the small
number of individuals
involved in managing the company
implies equivalent responsibility in the planning and
decision-making processes. Nevertheless,
the requirement for
preparation is as important in a small business as it is in a
large one.
This guide Focuses on the importance of good
management practices. Specifically, it addresses the obligations
of managing the
external and internal environments.
Running A Business Effectively: The External Environment. Five
decades ago, Alvin Toffler indicated the vision of the taxpayer
at
the tight grasp of an omnipotent waiver could be
substituted by an organizational arrangement of ad-hocracy. The
conventional
company organization implied a social contract
between employees and employers. By adhering to some
predetermined set of duties
and sharply defined roles and
responsibilities, workers obtained a predefined set of
benefits.The Organizational structure that
Toffler predicted
in 1970 became the standard 20 years later, and it came changed
concepts of authority. As associations became
more
transitory, the authority of the organization and firm was
replaced by the jurisdiction of the individual supervisor. This
entrepreneurial management model is now being replicated
throughout society. As a result, the individual business owner
must
internalize ever increasing organizational functions.
Another change In the present business environment is
dealing with government agencies. Their influence on the conduct
of company
most recently appears to have improved. As
industries fail to achieve high levels of moral behavior or
individual businesses
exhibit specific lapses, the government
rushes in to fill the breach with its regulations.
Effective Communications play an integral role in managing and
operating any successful business. With open communications
modifications and their consequences on the organization are
quickly shared. Your firm then has the time and skills required
to
react to changes and take advantage of evolving
opportunities.
The next Checklist addressing how you'd
react to a worker's suggestion offers an evaluation of the
communication process in your
business. Place a check beside
the statements which are commonly heard in your business.
Balancing Schedules Stress and Personnel. Without
organization and good control the compressed time programs
related to
contemporary company can cause stress and make
extraordinary demands on people. A successful management
structure can reduce
stress and station the productive
capacity of workers into business growth and profits.
Setting Duties Tasks and Responsibilities. An organization is
characterized by the character and determination of workers'
responsibilities tasks and obligations. While many organizations
use various methods for determining these it is essential that
they be clearly defined.
The core of any Business is its
people and their own functions. Duties responsibilities and
tasks frequently evolve in an ad hoc
manner. A typical firm
starts with a couple of people often one doing all duties. As
the firm develops others are hired to fulfill
specific
functions often on a functional basis. Roles that were handled
by consultants and specialists beyond the firm now are
handled internally. As new needs emerge new roles have been
developed.
Another crucial to Successful management is
located in controlling conflict. Conflict can't be removed from
the company or the
interpersonal actions of the enterprise. A
measure of this organization's success is the degree to which
conflict may be exposed
and the energies related to it
channeled to build up the firm. Although establishing policies
and processes represents the
concrete aspect of organization
and management the mechanisms to endure and embody barriers to
the established performance serve
as the real essence of a
firm which will endure and prosper.
Even though you May
discover that certain events are affecting your company be
careful to not alter the organizational structure
of your
firm without discussing it with your management team. Employees
normally can achieve goals despite organizational
structures
imposed by management. Because restructuring entails spending a
lot of time studying new guidelines implementing a new
organizational structure is pricey.
The essence of A
prosperous organization can be simply summarized than
implemented. The Following checklist can help you determine
measures to ensure your management Construction is adequate.
Verify the entries that apply to your firm and also find Out
what
steps your business should take to improve its
management Construction.
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