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General Business Tips |
Information Retrieval Strategies for Parking Area Sweeping Contractors
by Lynn Trzynka,Director of the Small Business Development Center at Western Washington University Most of us have heard repeatedly about the value of networking and developing support systems. If you have incorporated this into your life, then you realize the time and commitment it requires. For a business owner, building an information network is equally important and requires a similar conscious effort to develop and maintain.Successful business people know that information is power. It provides the competitive edge needed to succeed. To achieve long term success, you must utilize a wide variety of information relating to economic data, competitive data, market trends, customer information, personnel laws, employee management concerns, government regulations, service quality, tax/accounting strategies and financial management issues. There are businesses which are successful in the short term without having all the essential information. To survive and grow, however, you must incorporate all this information into your management and business plans. The first step in tracking down information is to be very specific as to what you are seeking. If you are vague about what you are looking for, you will come up with vague and irrelevant information. In an age of information overload, obtaining volumes of data is easy. Screening and sifting through it to understand what is relevant becomes the challenge. Begin by writing down all the questions you need answered to make your business better. No question is too insignificant. Put a star by the ones that are critical. Now group all your questions into categories, using the listing in the second paragraph as topic headings. Each heading should now have a list of questions with it, ranked (with stars) by the urgency of the information needed. An example might look like the boxed list on the facing page. As you review your list, you will see that you already have the information needed to answer some of the questions. You may simply need to review your customer records, billing invoices, purchase records and other internal documents. You may be able to set up simple teaching systems so you can more easily obtain the information on an ongoing basis. Some of the information needs you identify will relate to specific questions about your future business plans and how they relate to laws and tax regulations. Develop a good working relationship with your lawyer and accountant. Make your meetings with these professionals efficient have specific questions ready and be prepared to share your business plan and goals. Cultivate relationships with people and advisors who can provide you with additional information you require. Don't forget to include your banker and insurance agent as important sources of information. Set up meetings periodically to review any questions you have. If you anticipate needing financing in the foreseeable future, take time before then to discuss your plans with your banker to find out what information you might provide to increase your chances of obtaining financing. (See related article on developing a successful loan application on page 18 of this issue.) 
It is likely that some questions on your list will point out areas where you need to learn a technical or management skill. Training classes and workshops are available on nearly every topic. The key to finding a class that meets your needs is to be very specific about the outcomes you desire. Taking time to read publications, attend seminars and meet with advisors and other business owners is not a luxury. While it may feel overwhelming at first, you will, with practice, become more efficient at gathering and using information. You Should Know:Personnel
Financial
Taxes
Economic
Market Trends
Technology
Operations
Customer
Competition/Industry
The U.S. Small Business Administration sponsors a variety of programs to assist business owners in maximizing their profitability. Contact your local SBA office for information about specific programs in your area, or call Schwarze's toll-free number, 1-800-688-7933, for the number of the program nearest your location. SCOREThe Service Corps of Retired Executives is a volunteer program sponsored by the SBA. SCORE volunteers provide management counseling and training to small businesses or to those thinking about going into business. Every effort is made to match a client's need with a counselor experienced in that line of business. Counseling is free by appointment. Management counseling is provided to a client at the place of business or by appointment at the SBA office or at a SCORE counseling location. SBIThe Small Business Institute gives small business owners an opportunity to receive intensive management counseling from qualified college-level business students working under expert faculty guidance. Under the program, students meet frequently over the course of a full university term (or more) with the small business owner to identify and solve specific problems. Business owners receive a detailed report on the steps they need to take to improve their operations. Studies focus on a full range of management problems and solutions. SBDCSmall Business Development Centers are sponsored by SBA in partnership with state and local governments, the educational community and the private sector to provide high-quality low-cost assistance, counseling and training to prospective and existing small business owners. The program provides long-term counseling, training and research assistance in all aspects of small business management. |
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