5 Project Management Basics for New SMB-Owners

The beginning of every small business adventure can be tricky for new entrepreneurs. Most people have never run a business before and therefore need to approach this challenge with utmost commitment. This included a lot of thinking, planning, and calculating before accepting every new project.

Project Management Basics for New SMB-Owners

When you estimate what is needed to successfully manage the project, you need to consider the following tips.

They’re meant to assist SMB-owners in establishing the internal project management structure. Also, they will help novice SMB-owner deal with their projects in an organized and productive way.

Set the internal deadlines

At the beginning of every new business project, the client and the service provider set certain deadlines.

Some clients are open to flexible deadlines, especially if they have specific projects (think special design needs).

However, others are sensitive to missed deadlines and late deliveries.

If you’ve just launched your small business, you might not hold all the reins in your hands.

This can lead to missed deadlines and a damaged reputation at the very beginning of your career.

What you can do to prevent such outcomes is to set the internal deadlines. For instance, it can be two weeks before the deadline you agreed with the client.

That way, you’ll prepare a safety net for the potential delays within your business.

Also, let your employees know about the repercussions in case of significant delays.

By establishing the internal discipline on time, you’ll ensure a positive external reputation for your business.

Define the payments

Now that you’ve protected your project from the internal obstacles, inform your employees about its financial aspects.

It’s vital to set the rules of the game in advance. In other words, you need to tell your employees and outsourcers how much they will get for every project.

Apart from that, it’s important to give them the payment plan.

Your task is to make sure that your respect the agreed invoice dates.

On the other hand, your employees need to perform their tasks on time.

In the case of long-term projects, this transparency will keep the employees both motivated to work and loyal to stay with you.

We’re talking about collaborations based on a per-project system. For new business owners, this is a financially better option than permanent employment.

Determine the milestones

Business owners, their managers, and clients need to negotiate several milestones at the beginning of every project.

This is a common working pattern used by thousands of business people.

Again, let’s remember that we’re writing this from the perspective of a new business owner.

In line with that, we suggest that you stay disciplined throughout the entire project.

So, the first step is to determine the precise milestones with the client.

After that, you need to repeat the same thing within your business.

If you have more than one team, let each of these working units know their tasks and the deadline.

Also, those business owners who decide to pay their employees per project need to ensure some additional things:

  • Giving part of the payment in advance – a useful incentive for employees to commit themselves to the project.
  • Highlighting what they can expect after every milestone – only things you’ve negotiated with the client.
  • Introducing the next milestone sometime before the current one is done.

Ensure constant communication

Communication is the key to success in every business project.

No matter if you’re a freelancer working alone or a business owner, always engage in seamless communication with your clients.

Of course, every niche has its special features, so there will be some communication specifics for every different field of work.

For instance, software developers often use project management tools to keep everything under control.

As explained by the web application development crowd from Houston, these solutions enable them to keep their clients updated no matter where they live. Using Slack or Asana is a reasonable option for ensuring a constant feed about the project.

Content writers, on the other hand, might prefer Basecamp or Trello because they meet most of their needs.

So, in case of urgent projects, you might need to inform your client several times a day about the progress you’re making.

When you have more time for a project, you can just make a deal with the client about the communication pace.

For instance, exchanging information once or twice a week might be the right option.

Provide the client with reports

Closely related to the previous paragraph, every new business owner needs to understand the importance of regular reports.

Every serious company hires people who work only on project documentation. For instance, some programmers are in charge of updating and storing these reports. If your employees and outsources note down what they do and deliver those documents, you will be able to use them for future projects.

It’s important to write reports about your tasks and projects for your client, as well. When you have everything you’ve done in writing, you can talk about the existing and future projects more easily.

Finally, in case of a legal dispute, you’ll have enough proof to show what tasks you’re performed for the client in question.

The final word

Project management is a special scientific discipline. Some people study only this niche in college or at university.

So, it’s not easy to master all the tricks of the trade at the same moment when you launch a small business.

But if you commit yourself completely to your venture, you’ll learn many of these things via practical work.

Our tips will help you start as a business owner and organizer. Still, you need to be aware that this is only the tip of an iceberg. Therefore, apply them but don’t hesitate to learn and implement every strategy that you think will improve your project management skills.

Author Byline: Liam Collins is a tech pundit and Web enthusiast working at TuiSpace.com. He spends most of his time reading and writing about the current affairs in the world of information technology. When he isn’t working, he likes going for long bike rides and walks in nature.

5 Project Management Basics for New SMB-Owners

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