Recently, I gave consultation to a friend on the business system for his company. I was there when he set up the company last year and the company is not profitable yet. I believe it is normal for a new company to actually just aim at survival for the first few years.
However, I found out that he doesn't have a solid system and depend too much on his manager. He is always away and the control system is absent. That means he could actually have done better if the system were in place. No matter how small your company is, organization and management are crucial.
I also just started my own business a few months ago. Currently, I still put the business under Research phase. I have been doing lots of research, trial and error in marketing strategy and products selection. I had a business plan draft that I plan to finish by end of year so that I can officially launch the business next year.
Type of business: wholesale of fashion bags and accessories.
March 2013 Draft a business plan
April 2013 Research on products and suppliers in China
May 2013 Forming a Limited Liability Partnership and start going outstation doing marketing research.
June 2013 Come up with Resellers Program and start recruiting re-sellers
July - Aug 2013 Trying to create a website, coming up with bookkeeping system, creating facebook pages, expanding connection and network, etc.
Sept 2013 Going to Indonesia to find new source of products.
... to be continued
P.s. SME : Small & Medium Enterprise
