Smart business is about smart choices
- Published on Thursday 16 July, 2015
- 2 min. read
As an apprentice, you were taught about trade skills and now it’s time to learn the ins and outs of running a business. The excitement of upgrading to the latest equipment can put you on the edge of your seat; however in the classroom interest levels often take a dive as soon as accounting and business are mentioned.
The good news is that there are plenty of options for you.
Most tradesmen have an intuitive understanding of their business and the key to success is to know where the knowledge and compliance gaps are and find the resources to fill them. To progress your business, you’ll need to decide if you should consider increasing your management skills for yourself or outsource the business management tasks to experts.
Identifying core business strengths and weaknesses
One of the mistakes most small businesses make is to try to be all things to all people. The idea is to really understand your strengths and weaknesses and drive the aspects of business which your customers value and make them profitable for you. Defining your business and sticking to your core competency will allow you to maximise your productivity.
Get advice that supports decisions
Working with independent professionals can be very useful in assisting businesses. You can improve your strategic direction and incorporate best business management practices, and therefore become better positioned for growth. Aligning the needs of your business with the needs of your people helps ensure your business is structured appropriately for your marketplace. Good employees can be your greatest asset and can generate a return on investment, so recruiting and retaining the right people is important to your business success. For this to happen however, both the needs of the business and the individual need to be met.
MEGT Australia is here to help. Our expertise in apprentice and trainee recruiting, screening and payroll management will help you reduce time spent on non-core operational tasks. You can also use our free no-frills trainee or apprentice advertising by simply posting your vacancy on our jobs site.