small business administration

Okay - so you've started your own business - what now? How much do you know about small business administration and maintenance? What responsibility do you have to maintain records and report to the government? How do you budget your cash and time to maximize your returns? How do you build your website? and your home office? Should you use recruiters or other contracting companies to find work? It can be very confusing. LET US HELP!!!!



1. time management
As a small business owner - it is essential that you have the ability to manage your time. Most small businesses are one person operations - if you don't do something no one else will. Therefore your time is extremely valuable.

2. cash flow budgeting
Without a guarantee of steady income, paid vacations and health benefits it is essential that small business owners learn how to budget and plan for cash flow shortages or spikes. One of the most common reasons for a business to fail is due to poor cash flow management.

3. record keeping
Without small business administration and proper record keeping you will not be able to clearly analysis your business to see where you can improve or properly forecast your cash needs. Even worse, without proper records you can get into a lot of trouble with the government - most governments require that business records be keep for at least 7 years. Also if you are looking to get a mortgage or small business loan you need proper records of the preceding few years.



4. advertising and promotion
You may be the absolutely best person in the world at whatever it is that you do - but if no one knows that and hires you - then you will fail. It is essential that you learn how to promote your business through advertising, networking and use of a website.

5. building a home office
In order to successfully work from home you need to make sure that your space sets you up to succeed. All too often people work in whatever clear corner of the house they can find. A few hours of work setting up a home office will save you hours of disorganization and frustration in the future. So spend the time to declutter, organize, and stock your home office before you get started.

6. subcontracting and using recruiters
A lot of people starting their own business do not take advantage of a great source of knowledge, industry contacts and work. It can be very beneficial in the beginning for small business people to work as subcontractors to already established business or to use recruiters to find contract opportunities. It is true that you will generally make less money when you work through another company - but the experience, contacts and work continuity often make up for this (at least in the beginning of your business).

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