On the basis of the knowledge that I have acquired in this course, I have a plan to start a small business organization. The course has enabled me to understand the most important things that an individual should focus on in order to successfully operate a small business organization.
My plan is to start a small business of distributing Herbalife products, which are natural and healthy. Apart from this business, I am also planning to start a nutrition club. The club would provide different types of foods and beverages such as herbal green tea. In addition, it would offer nutritional training programs. Such programs would give clients information on how to stay healthy by feeding well and doing exercises.
This course has equipped me with enough knowledge of how to operate small business organizations. I would, therefore, apply the knowledge to run my business organization effectively. For example, I have understood the importance of record keeping, when operating a small business organization.
Record keeping is important because it protects small business organizations from unnecessary losses. I have also learned about different methods on how to attract customers and retain them. Finally, the course has equipped me with knowledge on how to manage a small business organization by taking control of every operation that takes place in the business.
I feel that I have a better idea of small business organizations and what it entails for managers. For example, the course has enabled me to understand that small business organizations can be started with a small amount of money. Previously, I thought that one requires a lot of money to start a small business organization. I have learned about the challenges that small business organizations encounter and possible reasons why most of them collapse.
As a result, I would rely on this understanding to ensure that my business organization does not fail. The course has also enabled me to understand what it entails to be a manager of a small business organization. I have learned that a manager is in charge of everything that takes place in the business organization, which means that he/she should always be present in the business and supervise everything.
I am ready to handle the management role in a small business organization. This is because the course has enabled me to understand the responsibilities of a manager in a small business organization. For instance, he/she should ensure that business finances are utilized in the right manner.
He/she should also establish good customer relationships to retain customers. In addition, the course has equipped me with adequate knowledge about things that managers of small business organizations should avoid. With this knowledge, I am prepared to handle management roles in my small business organization.
The first skill that would enable me to run my business organization effectively is the ability to manage time. A successful manager should be a good time manager because this would ensure that every task is performed in good time. The second skill that I possess is the ability to mobilize resources.
Small business organizations do not have adequate resources hence a manager should be able to mobilize resources from different places. The third skill that would enable me to manage my business organization effectively is the ability to develop sustainable budgets. My set of skills would, therefore, enable me to ensure that my business does not run into major problems.
I do not have a business plan right now, but I am in the process of developing one for my business organization. The first business plan that I had written was for a different business hence I could not use it for this business organization.