How Small Businesses Can Manage Projects Intelligently for Sustained Growth

As small businesses grow their size, project management becomes an increasingly important part of the process. It’s easy to deviate from a standard process when there’s only one employee, or a small handful, but trying to herd a team of dozens or hundreds is impossible without tools to guide them along the same path.

Good news: While product management software may seem like the domain of enterprise organizations, small businesses stand to benefit substantially from this offering.

Use cases abound, starting with setting up a small business itself. New owners can leverage the software to track and comply with legal requirements, maintain visibility into tax preparation, and monitor marketing efforts. Freelancers and independent contractors benefit from the ability to manage personal deliverables and follow up on payments while simultaneously establishing a process for new work. And, as new employees become onboarded, a centralized knowledge-sharing database points them in the right direction.

Here are a few ways small businesses can level up how they implement project management solutions, including the technology that can support these efforts:

Centralized Ideation

Without communication, businesses simply cannot grow. It’s essential that all employees remain on the same page to reduce the chances of doubling up on work or misquoting a price to a potential customer.

Still, those early days are special because your employees are unfiltered and perhaps bolder and more willing to take risks. you’ll want to keep everything for posterity.

Even if a company employs only a few employees, it must establish a space, accessible to everyone, where team members can brainstorm and share ideas. A shared document works, for a time, but even better results come from a more formalized online project forum. This format helps keep ideas from becoming muddled with one another and enables commenting on each part of an idea. Using a forum also ensures employees can’t accidentally delete text that someone else had written, and an archived forum can serve as a place to peruse old ideas for the purposes of inspiring new ones.

Small businesses need to also consider how knowledge is going to be shared within their organization, particularly around onboarding. As the number of employees grows, so, too, will the level of difficulty in disseminating information from the top down, facilitating communication bottlenecks.

Project management software often includes the ability to create a Wiki where this essential information can live. By centralizing this information, companies can send articles to clients, as well, to help with onboarding or troubleshooting, reducing the number of resources required for customer service. The presence of a Wiki can also send a strong message to new employees that a company is listening—that everyone’s input is important and can lead to lasting change.

Robust R&D Tracking

In a time when much data has become democratized, a robust focus on R&D is essential for any growing business that wants to maintain a competitive edge over its competitors. However, this process can feel especially nebulous for newer businesses who don’t employ a full-time R&D department and rely on its staff to innovate when operations are slow—which they rarely are.

Robust R&D begins with an accurate understanding of how a business operates. For that, project management software may help accumulate the necessary data. Employees can start utilizing timesheets to determine where they spend the majority of their time and how some of that can be cordoned off for R&D efforts or reorganized to remove road blocks. In fact, some project management software packages come equipped with AI assistants that can assist with tracking and consolidating data, easing the burden on employees.

Then, once enough information has been gathered, small businesses can begin setting milestones to break down R&D activities into manageable, bite-sized chunks to be assigned to the appropriate employees. It’s important these tasks include deadlines and deliverables, as well as ensuring they fit within a larger framework of how the company is hoping to evolve. By establishing limitations and accountability, employees will feel like they’re part of the process and will feel empowered to speak up when they encounter issues. For the sake of producing a high-quality product, it’s important for small businesses to maintain a spot where employees can log these issues, saving time tracking them down when teams are ready to perform triage.

Production Processes

It’s understandable if small businesses accumulate numerous ideas for growth without follow-through. Time is of the essence, and putting out fires will always take precedence over operating in the theoretical.

Gantt Charts, available within project management software, can help. These tools help visualize production timelines so managers can track progress and adjust schedules as new information crops up so as not to derail or delay delivery.

Once these charts are in place, managers can also receive visibility into resource use to make better use of available team members. For small businesses, this piece of the puzzle is essential; every minute counts when trying to maximize employees’ time.

The above processes are meaningless if no one can monitor their success, which is where analytics play a huge part. Production metrics can be fed into an analytics program and measured against past performance and previously stated goals, keeping everyone on target and allowing stakeholders to operate knowing a project’s entire context. This guides improvements and establishes a precedent for data-driven decision-making that hopefully carries on throughout a company’s lifetime. Once again, software in modern product management suites folds many of these functions into a single package, unified within a company’s existing infrastructure, to keep the train running on time.

Technology Toolkit

Small businesses need to realize they’re not on their own. Owners aren’t the first to launch a company, and they certainly won’t be the last. It’s important to learn from those that came before and establish a foundation for what’s to come, and technology can aid with this effort. The last year has seen an explosion in software capabilities and a general increase in affordability and access across the board. The most successful small businesses are the ones taking full advantage of what’s on offer by managing the most important project: growing their company.

This article, "How Small Businesses Can Manage Projects Intelligently for Sustained Growth" was first published on Small Business Trends

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