Take a look at a list of average results for small businesses and you will see a mix of activities that produce income and you will also see other activities that do not produce income. Regardless of the type of small business, every business must follow some basic operations to gain profitability. Reviewing a to-do list will keep you on track to peak performance.
List of activities that generate the most income in a business or small business
Repeating the same daily and weekly tasks may seem repetitive, but some tasks are critical to operations.
Employee management
Managing employees will take up much of a small business manager’s time. According to Small Business Administration (Small Business Administration), businesses that fail to comply with workers’ rights can end up in legal trouble. Small business owners must create fair work schedules, and provide breaks and lunch periods. They also develop vacation schedules and keep track of sick days. While running a business, you are expected to facilitate conflict resolution and deal with human resource issues such as training.
Finance management
Businesses depend on the sale of their products and services to keep the doors open. They must accept payments in cash, checks, and debit or credit cards. In addition to receiving payments, companies issue invoices, deliver receipts, and answer customer billing questions. Bank deposits must be made and the books must be balanced regularly to keep everything paid on time, including employees and vendors.
Business marketing
Every business requires some form of marketing, large and small. When you run a small business, you should allocate time to create posts on social networking sites, or to buy advertising in the newspaper, or on radio and television. Some companies hire production companies to produce commercials. At least once a quarter, business teams should review their current marketing plans.
Working with Technology
Managers and employees work with technologies every day, performing tasks that keep the business running smoothly. For example, computer skills will be required to create and manage spreadsheets and text documents. Other technologies, such as photocopiers, fax machines, and product packaging equipment, can also be used. Some companies use multi-line telephones and email to communicate with vendors and customers.
Order fulfillment
A large part of the workday must go to placing orders accurately and in a timely manner. Products are collected, packed and shipped while invoices are attached and generated. Once products are filled, orders must be mailed using the correct postal service. Other daily tasks, such as shipping replacements or tracking lost packages, are important to running a business.
Customer Support
Without customers, there will be no business. The responsibility of running a business includes providing good customer service. Customers need answers to questions and suggestions about new products. Customer service tasks may include answering phone calls, written correspondence, or emails.
Warehousing supplies
From paper and pens to inventory, businesses need regular supplies. Part of the working day is spent locating the tools needed for the job. Restaurants need access to fresh food and must address storage safety issues. Construction companies require materials such as wood, nails, and equipment. A beauty business needs to stock the latest makeup and sales aids.