Applying Project Management to Your Small Business
Updated: Aug 4, 2021
From small businesses to multinational corporations, there isn’t a single business that doesn’t rely on one crucial factor: Project management. Whether it be a new sales campaign or a simple change of process, virtually anything you hope to accomplish is a project (at least, it should be treated as such).
So, where do you start? In this post, we’ll cover the basics of project management and show you how to incorporate these skills into your long-term business plans.
What is Project Management?
In simple terms, project management refers to the collection of techniques, knowledge, skills and tools you use to satisfy your project’s objectives. In virtually all cases, even outside of business, the process will look follow these steps.
1. Project initiation.
2. Project planning.
3. Project execution.
4. Project monitoring and controlling.
5. Project completion.
While these steps look simple enough, it’s important to note that a project’s efficiency depends on the details and actionable steps. Whether you are a solopreneur, consultant, or small business owner, you can’t skimp out on planning, meaning everything from budgets to timelines should be fine-tuned in order to take the project from an idea to successful completion.
What Does Project Management Look Like in the Real World?
Even if it’s hard to see, project management is everywhere. Businesses of all kinds rely on project management techniques to boost their sales, scale their capabilities, and expand their presence within the market.
Here are some examples:
Business Rebranding: Revamping a business isn’t as simple as launching a new logo or providing new products. Like any other major decision, this requires extensive project management to oversee changes and progress along the way.
Ad Campaigns: Advertisements in the 21st century can only increase sales when implemented with the preparation, organization and execution necessary to reach their target audiences.
Client Photoshoots: What does your client want their photos to portray? What tools will you use? How can you maintain efficiency and quality throughout the process? With enough project preparation and management, these questions can be answered.
Creating A New Website: Time to replace the old with the new? From hiring outsourced website developers to advertising on social media, it will take some planning to ensure your new website launch turns out the way it should.
As you can see, project management doesn’t only refer to large-scale business developments. Everything you do as a business owner is a project in itself — no matter how small it might seem — so don’t forget to brush up on your skills! It could be the difference between soaring past your objectives and falling short of expectations.
Project Management Tools and Assistance
Even billion-dollar companies need to rely on external assistance to maintain organization and keep their project management abilities up to date. Fortunately, various software solutions are available to help you track progress, productivity, goal completion and more.
If you’re searching for ways to help you optimize your time and money spent on business projects, learn how to think like a project manager by checking out our toolkit. As a business owner, if you start thinking like a project manager, it can help you propel your business past the competition.