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Small business processes

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Small business processes are many.While processes vary form small business to small business there are some fundamental processes to business that are not easily overlooked.For example, it would be difficult to run a successful business without the marketing process.Some examples of other business processes and why they are important to small businesses are listed below.

Marketing

Marketing is a vital small business process because it is the process the links the small business to the target market.Without marketing, the customers would have no way of finding out about the product that you are trying to sell.If you cannot acquire customers you cannot make money and you cannot run a business without making money.The process of marketing can be quite involved but the main idea is that you use marketing to first determine who your target market is, to create a product that fulfills a need within that market, and then to let your potential customers know about the product that you have created for them.There are many marketing strategies that will vary from company to company but the basic marketing process remains the same.

Human resources/public relations

Small business owners often overlook the human resources/public relations process of business because these processes are usually associated with businesses where multiple employees work under a management team.Although it is true that a more sophisticated H.R. and P.R. team is needed for larger companies, even the smallest business has a need for the processes of working with people outside of their own operation.If you are ever going to communicate with an entity not affiliated with your business, it would do you well to make sure that you have not forgotten these important processes.

Accounting

It is not enough to understand the process of making money; you must understand the flow of that money and how to manage that money so that it can do the most for you.The accounting process is intimidating for many, but its basis is built on fundamental principles and easy to understand concepts that need to be remembered.Small businesses that are operated from a home and employ no one but you will have simple accounting processes.But do not allow the simplicity of your operation to deter you from looking at the larger picture and using accounting processes to make your business grow.

Production

The production process is one of the more diverse processes in that no two production processes are exactly the same.You may make your product in your basement or you may have a company in Beijing doing all your work for you.The production process is the heartbeat of your small business and getting a good hold on how you can most effectively utilize your production resources can mean a huge difference for how much of your profits you can actually put back into the company.

Price determination

The process of determining the price of your product can be quite exhausting.Of course you want to find the balance between making as much money as possible and not making your product so expensive that no one is willing to buy it.This lesson in economics seems simple enough, but many small businesses have met their downfall because of their inability to pick up on the pricing process.

Change

Although change is not necessarily a process that you would initially associate with small businesses, change is necessary if a small business is going to adapt enough to be able to overcome obstacles, beat out the competition and make enough money to still be profitable.Change is a necessary consequence to learning and a good small business owner knows the benefits of learning from mistakes and quickly adjusting.

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