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Posted on July 30, 2009 by Nancy Crawford, Core Business Services

Filed under finance & insurance |

TIPS FOR ACHIEVING SUCCESS IN YOUR SMALL BUSINESS

The reason most Entrepreneurs go into business, besides the money thing, is an extraordinary expertise and love of their specific offering. Be it a better mousetrap or a unique service, most Business Owners are enthusiastic in offering something valuable and/or a distinctive method of delivery.
Whatever is your focus, the simple conduct of business creates the need for administrative support. The success of any business can be greatly enhanced by presenting a professional image on the administrative front. In this effort, you will gain a higher level of confidence with customers, vendors, employees as well as with the business community at large. This will lead you to professional respect and increase your customer loyalty and referrals. Following are the staples of administration and how they relate to your success:
1. Accounting: Accounting is your basis for business decisions. An appropriate and adequate accounting
system will give you information regarding your financial success, allowing you to make operational
changes prior to encountering a financial crisis. You will need timely and accurate financial reports that
are acceptable to potential lenders, in event you seek either long term financing for major equipment
acquisitions or a short term line of credit for periodic cash flow support. In addition, proper accounting
will save you much time and expense in completing year-end and preparing for accurate tax returns.
You will need to determine which software package, accounting method and policies are compatible with
your organization structure and your business. Proper implementation and operation is important in
achieving the aforementioned results.

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