Small business owners have a lot in their plates. From trying to find a market for their products or services to attempting to woo a new customer to join their small customer base, being a small business owner is like signing up to be ever busy and aggressive. Because you may find yourself working every day of the week, you may end up mixing things or forgetting important work altogether. Contrary to the misconception by many small business owners that the smaller the organization, the lower they need a strategic plan, your SME requires a strategy regardless of its size. A strategy can help you know what you have done well, what needs more of your attention and whether your daily operations are growing your company. Here are some of the leading reasons why your small business requires a strategy.

Business plans are among the most critical components of any business. Unfortunately, although having a business plan is critical, many businesses have plans that are not worth showing to potential funders or printing at all. Most of these poorly thought business plans have some things in common, as shown below:

Promotion is one of the human resource’s core tasks that determine the direction of an organization. As simple as it may sound, it is one of the difficult undertakings that keep human resource managers hoping that the decision they make will help the organization achieve its goals. The hardest part is choosing one person to fill a vacant position from a large stack of resumes from many potential applicants, some of whom have been within the organization and those who have never worked there but have impressive CVs. Which would be the best choice? The person who has worked within the organization doing a great job, working hard to help the organization achieve its goals or a new face with an impressive CV but has not worked within the organization and has not been tested before? The reality here is, you have all these options at your disposal. Here are the benefits of promoting employees internally that might help you make the right decision: