How to Run a Successful Small Business-Rajeev Lakhanpal

RAJEEV LAKHANPAL Owner of Ameterasu Pvt Ltd

Rajeev Lakhanpal is the owner of Amaterasu Pvt Ltd. His Business is into Blockchain and Cryptocurrency development specializing in providing solutions for various sectors of the economy: Gaming, developing Apps, e-commerce, online education and has developed his own blockchain Rhombus based on C++ which he is going to launch soon with his coin Teramasu. Rajeev Lakhanpal has years of experience in this field. He is an entrepreneur himself. He is married to Reenu Lakhanpal And is blessed with three daughters Apurva Lakhanpal, Akshita Lakhanpal, and Anushka Lakhanpal.

EXPERT TIPS TO TAKE YOUR BUSINESS TO THE NEXT LEVEL Your local Small Business Development Center (SBDC) is a great place to turn, as it offers free consulting, along with training that is often free or low cost. SBDCs work with a variety of small business owners and will see opportunity where you see obstacles.

1. Reach customers in more ways than one If you are a retailer with no online presence, consider setting up a web store as another way to capture sales.

Once you have captured enough customer emails, consider an email campaign to keep your message in front of your customer base. And don’t forget about social media.

2. Find employees eager for a second chance Often, we hear that businesses want to go to the next level, but can’t for lack of workforce. Explore opportunities such as “justice involved” individuals, who often have received some training and/or certification while they were incarcerated. They expect entry-level positions, are eager to work, and may have extra motivation to “show up and deliver” due to reporting to probation/parole officers.

3. USE A 60/20/20 APPROACH TO TIME MANAGEMENT

Instead of spending 100% of your time knocking out tasks via the “Whack-a-Mole” method, I suggest a strategic approach to time management. First, use 60% of your time to proactively focus on tasks that truly add value to your business or cannot be done by others. The other 40% of your time should be divided into two categories: 20% on planning and 20% on strategizing.

4. Dig deep into your numbers As an established business, you should be using accounting software. Once you understand the basics, what else can you measure? Understand your inventory turns and dive into your cash flow. Now is the time to start to measure your business and use metrics to take your business to the next level.

5. Build and leverage strong cybersecurity Businesses need to prepare and strengthen their cyber infrastructure, not simply to be ready for the next threat, but, more important, to position their companies to take advantage of the opportunities provided by a strong information security posture. The overwhelming cascade of messages communicated to small business owners emphasizes the ongoing threat that malicious software and cybercriminal elements pose to the security of their digital information.

6. Make strategic acquisitions As a business, you grow by controlling cost and maximizing profits. As you acquire small businesses that are ancillary services, you not only control the cost of your primary business, but you gain the clients and customers of those ancillary businesses—not to mention the introduction into new areas of business or industries not originally served by you, through a partner they already have grown to trust.

Thank You Email

rajeevlakhanpalofficial@gmail.com

New Delhi, India