How to Manage Your Project to Succeed in Business

 

Not everyone realizes that the most important period of a start-up is managing the project for the first 1-2 years. Before that time all you have to do is to complete the main idea and predict the resources you would need. Thus, the part when you implement the idea is the most significant one. You need great motivation to succeed in your project and always follow all the types of your plans. You better know about SWOT analysis to recognize your weaknesses and strengths. Furthermore, you have to know all the basic management functions. And of course, you need to have the necessary communication skills to efficiently talk to your employees and consumers. All these highlighted proficiencies would be included in this post.

Example of Rome

Roma was a city of 1 million people. And it is sort of obvious that supplying food was a challenge. Rome created a grain supply business system that lasted for 500 years. It was based on international trade. At that time google, skype, internet or even a simple phone didn’t exist. However, the system worked for 500 years. What was the secret of this effective business management? The answer is obvious – It was trust. We usually use expensive tools to manage our projects. However, we have to value the communications and trust the people we meet.

Nowadays, we have already reached the technological century when the communications can be in other forms than speech or typing stuff. Now you can already predict the problems of your consumers and give them what they want. If you are facing the problem of spreading the word about your business, you can turn to different advertising methods, among them popups that can boost your sales significantly.

 

 

What Is Management?

Management is the process of coordinating people and other resources to achieve the goals of an organization.” This sentence introduces exactly what I am talking about. Management is the combination of material, financial, informational and human resources that lead to creating organizational goals. However, the main and the most worth resource in your project should be engaging skillful people. That is a simple way to succeed.

Basic Management Functions

Again, what we imagine by saying management functions or options. It’s all about planning how to spend the resources. Additionally, it’s about organizing all the ways. Therefore, leading and motivating the entire personal and yourself to achieve all these goals is crucially important. Eventually, you need to control all of these processes. Otherwise, it would be a pointless job. How well managers perform these key management functions determines whether a business is successful or not.

Planning

Planning is establishing organizational goals and deciding how to accomplish them. There are various types of plans that you are going to face in the near future. However, managers usually develop and rely on these four types.

Strategic Plans

These plans are like a broad guide for major policy setting. They are designed to achieve long-term goals such as reaching market need with your product. These plans are set by the board of directors and top managers.

Tactical Plans

Tactical plans are like smaller-scale plans. Their main objective is implementing strategic plans. Unlike the strategic plans, tactical plans must be updated periodically because they serve a sub-plan for long-term ones. That is why, it is much easier to change them than strategic plans.

Operational Plans

These plans are designed to implement the tactical ones. They have to be for one year or less. That is why these kind of plans are more like specific solutions to sub-solutions of general problems. Operational plans show the way to accomplish specific objectives.

Contingency Plans

Contingency plans are like the last chances to the managers. They are usually outlined as alternative courses of action if other plans are disrupted or tend to be ineffective. Thus, they are used in conjunction with strategic, tactical, and operational plans.

SWOT Analysis

In short, SWOT analysis is the identification and evaluation of a firm’s strengths, weaknesses, opportunities, and threats. Strengths and weakness are categorized by internal forces. Opportunities and threats – external forces.

SWOT Analysis Components

There are four main components of a successful SWOT analysis. The first one is called core competencies that include all the approaches and the processes that give a company an advantage. The second component is the part weaknesses. It includes all the internal limitations a company faces during developing or implementing plans. Third one – opportunities. It is all about the situations that, if exploited, could produce rewards for an organization. And eventually, the last ingredient is threats that are like conditions or barriers that may prevent the firm from reaching its objectives.

 

 

How to Make SWOT Analysis

It would be better to introduce the process of making SWOT analysis without focusing on an exact
example. Let’s take UPer Crust Pies as an example.

UPer Crust Pies

UPer Crust Pies is a specialized meat and fruit pie cafe in Michigan’s Upper Peninsula that sells hot, ready-to-go pies and frozen take-home options, as well as an assortment of fresh salads and beverages. The company is planning to open its first location in downtown Yubetchatown and is very focused on developing a business model that will make it easy to expand quickly and that opens up the possibility of franchising.

SWOT Formula

After SWOT is Done

1. Per Crust Pies needs to reinvestigate financing options to make sure financing of the business is safely adjusted.

2. A company should develop a marketing plan. A key piece of that marketing plan will be the store’s grand opening, and the promotional strategies necessary to get UPer Crust Pies’s target market into the door. A strong grand opening will help establish the store’s reputation, so it is essential that the UPer Crust Pies’s team feels ready for its first day.

3. If the management team feels unprepared for the potential large crowds, a “soft” opening (such as an invite-only trial opening that offers free meals in exchange for feedback) may be a smart choice.

 

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