The Micro Businesses That Roared!
Small businesses that made it big did not come from easy beginnings. How they manage to strive can be true to be recorded in the ultimate archives of small businesses that made it big. Truly, inspiring and yet challenging stories have already been told by various business people which made their lifestyle shift from “rags to riches”. It is remarkably a stimulating effort to know that big things do come from small beginnings.
The small business that made it big do consider a number of factors which allowed them to be where they are now. For most entrepreneurs and businessmen, the road for their small business that made it big does not necessarily follow an easy road to success. In fact, these small businesses that made it big are but “lion cubs” that are not yet ready to be exposed to the real dog-eat-dog world business arena. It is indeed not easy and admittedly, it may be even difficult to maintain a surviving small business that made it big. In fact, small businesses that made it big will not even be made possible without considering various important factors crucial for their success.
Factors considered by small businesses that made it big:
• Small Business that Made it Big: Individual Perspective
Small businesses that made it big will only remain to be forever small businesses if the individual, the entrepreneur will not dare to dream, do, and risk. Truly, businessmen in small businesses that made it big are risk-takers. Thus, for small businesses that made it big, their leader, the entrepreneur must take that big business leap to succeed—this geared small business that made it big to survive.
• Small Business that Made it Big: Organization Perspective
This pertains to the whole internal setup of the small business that made it big. It is important proper internal control, cost-cutting measures, and effective usage of resources must be implemented.
• Small Business that Made it Big: Environment Perspective
This pertains to the external factors that would affect small businesses that made it big. Although this scenario may be beyond the control of the said business, this should allow entrepreneurs and businessmen to anticipate external opportunities and counter external threats.
• Small Business that Made it Big: Process Perspective
This refers to how the individual reacts to certain market changes throughout the business. You will be more than surprised that despite the same type of nature of business, an entrepreneur who will deal with the key players in his small business that made it big in a more negative or destructive way will ascertain the doom of the business.
Elements Needed in Small Business That Made it Big
• Anticipated Market Risk
Small businesses that made it big need to have a backup plan should market or business fluctuations occur. Your business will not flourish if you do not have a contingency plan.
• Part-time versus Full-Time Commitment
That time spent on your business will determine small businesses that made it big to maintain steadfast in the competitive business environment. Your dedication is important thus if you plan to have a small business that made it big, spend your quality time on your business.
• Capital Requirements
Depending on the goal or vision that you plan to have for your small business that made it big, capital requirements are a vital element to the success of your business.
Once you take note of all these by heart, rest assured, that your small business will soon develop into a “fierce lion” and you can proudly say that your small business made it big and ROARED!
Becoming a Business Guru through Proper Business Finance Studies and Practices
A lot of people are very much doomed for failure in their business because first and foremost they are unable to properly handle their business well. While most people would think that just because there is money always coming in their business doesn’t mean that they are already doing well. This is the best time for you to be very vigilant because you will never know that one day if you will be subjected to an audit, you might be ending up in a loss because your expenses would outweigh your revenue.
Now, this is just a slight realization for you to be more aware of what you need to do for your business. It should be known that business would have to be well monitored and well taken care of so that in the end, it would also benefit you.
How to manage your business:
It would be highly recommended if you would have a background in Business Finance so that you would know what you need to do for your business. The principles and fundamentals which you think may only be useful in school should be well applied because this is where the success of your business would lie.
Moreover, several business principles such as conservatism would be significantly applied to the actual business we all know that once making estimates as to costs and revenues, the conservatism effect must be always practiced and applied. In other similar cases, there are also performance ratios that you need to take note of so that you will know whether you are performing well in the business. For instance, there are some formulas that you need to follow so that you will know how much of your revenue is allocated from the acquisition of cost and all these related concerns.
Thus, having known the basic financing of business will allow you to be more equipped in handling business. Who knows, one might be able to become more successful in business finance that you might have to call yourself a financial guru for it. Indeed, you don’t have to be rich or a millionaire to provide sound financial advice on business finance as it can be learned and earned with a degree also.
Developing your skills in Finance through proper schooling:
With the increasing trend for more innovative ways and means to set the company’s or the individual’s finance in good condition, many have now turned to seek the professional assistance of a certified financial planner. In fact, contrary to popular belief, hiring a financial planner to straighten up your financial portfolio or fix your problems concerning finance and money could be a great investment for you.
Nowadays, many academic institutions have already incorporated in their academic courses the program intended for Certified Financial Planning. These CFP courses can only be found in various prominent and highly distinguished schools all over the world. Those who may have an initial academic knowledge or background in Management or Finance can be good enrolee candidates for CFP courses.
The training programs and tests conducted on the CFP board have been proven to be very challenging and tough. It is for this reason that individuals who have any related commercial background are more preferred to enroll in this course as they do have a standing chance to pass the said examination. The rewards will greatly be appreciated after having been completed or passed the said Certified Financial Planning board examination.
Call it a financial guru, financial expert, financial planner, or financial consultant, its role basically revolves around the basic function and that is to provide financial solutions to problems and dilemmas related to finance. Its function may be a versatile one as these professionals may offer an investment solution to an investor’s problem, a business portfolio solution to an entrepreneur or a businessman’s problem, or simply a financial solution to an individual who wishes to assess his present financial condition.
Rest assured that once you graduate to becoming a Certified Financial Planner, the whole commercial world is your potential client! Consider also the lucrative incentive that you will be gaining from providing your financial service to your clients.
Take note that a certified financial planner’s advice and recommendation concerning finance could make or break a business portfolio, an investment, or even a mere financial decision. Thus, the role of a certified financial planner is indeed very crucial and important. It is never easy to be the one who constantly deals and endures with various financial requisites and conditions. Moreover, one must have an open mind to assess any financial stipulation and its possible outcome should a particular decision be made on this premise.
Truly, being a financial guru is not only for the millionaires. Why everyone from every walks of life is in need of a financial consultant to provide them the much-needed advice on business and finance.