Every day, the 25 million U.S. small-business owners juggle countless tasks including purchasing supplies, leading meetings, interacting with customers and handling finances. Business owners are often so preoccupied with daily operations, they lose sight of the bigger picture and neglect planning and investing.
Although filing a tax return may rank as one of the biggest causes of stress for a business owner, a subsequent refund check is an opportunity to reinvest in the company. Instead of simply using the money for operating expenses, small-business owners should direct the money into long-term purchases benefiting the company.
How to invest? Often, small businesses struggle to seem as credible and professional as larger competitors. A great investment is a key technology tool allowing the business, its people and the work to shine throughout the years.
Project an image of professionalism. For example, a digital projector promises a smooth, impactful presentation to clients and partners each and every time. Weighing a little over five pounds, products such as InFocus' Work Big IN24 and IN26 are flexible projectors giving anyone who needs to demonstrate expertise in a persuasive presentation a tool to engage the audience. These long-lasting and dependable products fill a wall or screen with bright, vivid and crisp images, capturing every detail in a sales presentation, a pitch to win new business or a video montage to provoke interactive brainstorming sessions.
Get financially organized. Another great investment is small- business software to streamline tasks and reduce the hours spent on work not central to the business. The timesavings gained mean more energy can be directed elsewhere in the business. For example, software such as Microsoft Money Small Business has features to help manage business finances and better plan investments. It's easy to create invoices, track spending and manage payroll with the intuitive tools in Microsoft Money.
Don't wait to update! Beginning with tax refunds, business owners should commit to updating technology regularly. A few small investments can make employees more productive and enthusiastic. And the InFocus projector and Microsoft software are deductible expenses, qualifying for a discount of up to 35 percent.
small business grants | grants for businesses
Friday, September 3, 2010
Office Management Tips for Small Business Owners
Are you a small business owner who is looking to bring order to your establishment? If you are, you may be in the process of examining all of your office management options. As a small business owner, it is critical to your success that you make the right decisions. For tips on how to make those right decisions, you will want to continue reading on.
One of the biggest mistakes that small business owners make is assuming that they need to hire an office manager. Yes, office managers are one of the best ways to bring management and order into your company, but it is important to first examine your company. If you are small in size, you may be able to do all office monitoring yourself. This may eliminate the need for hiring an office manager. Office managers typically receive more pay than secretaries or other office workers. That is why it is advised that you first determine whether or not you really need to hire an office manager. If your company employs less than five office workers, you may not need an office manager, at least right now.
Speaking of your current employees, it is advised that you first utilize the ones that you have, before hiring a new office manager. If your business is small in size, you may want to consider promoting one of your current secretaries or other office workers. If your office is small in size, you may be able to do this promotion without hiring any replacements. For a reasonable pay increase, you may find that a number of your office workers are willing to add the title of supervisor to their name. This may be a nice, cheap way for you to bring order to your business.
If you are interested in running your business without the use of an office manager, you will want to make sure that you are clear on what is expected of all of your employees. It may actually be a good idea to terminate those who are unprofessional or known for their missed deadlines. It is more than possible for business owners, especially small business owners, to operate without employing office managers, but it can be difficult to do. Those without office managers need to rely heavily on their employees. Even if you do decide to hire an office manager, it is important that you are clear as to what is expected of him or her.
Another option that you have, when looking to bring office management into your small business, involves using office management software. Office management software is software that combines a number of programs all into one. It is common for office management software to have task lists with important dates highlighted, easy to use email programs, form and document templates, payment tracking programs, and so forth. Whether your business employs an office manager or not, office management software can be of great assistance to you.
Staying up to date in the latest in business and office management is another easy way for small business owners, such as yourself, to bring order and management into your office. You can easily use the internet, business magazines and journals, or office management seminars, to your advantage. These resources may provide you with updated information and successful tips and tricks that you can use to bring order into your office, whether you officially employ an office manager or not. Staying up-to-date on the latest in business and office management is important for all small business owners, as many do not have the resources and budgets needed to compete with larger business any other way.
The above mentioned tips are just a few of the many that you and other small business owners can benefit from using. As a reminder, small business office management is important, but it can come in a number of different formats, including the format of a hired office manager.
small business grants | grants for businesses
One of the biggest mistakes that small business owners make is assuming that they need to hire an office manager. Yes, office managers are one of the best ways to bring management and order into your company, but it is important to first examine your company. If you are small in size, you may be able to do all office monitoring yourself. This may eliminate the need for hiring an office manager. Office managers typically receive more pay than secretaries or other office workers. That is why it is advised that you first determine whether or not you really need to hire an office manager. If your company employs less than five office workers, you may not need an office manager, at least right now.
Speaking of your current employees, it is advised that you first utilize the ones that you have, before hiring a new office manager. If your business is small in size, you may want to consider promoting one of your current secretaries or other office workers. If your office is small in size, you may be able to do this promotion without hiring any replacements. For a reasonable pay increase, you may find that a number of your office workers are willing to add the title of supervisor to their name. This may be a nice, cheap way for you to bring order to your business.
If you are interested in running your business without the use of an office manager, you will want to make sure that you are clear on what is expected of all of your employees. It may actually be a good idea to terminate those who are unprofessional or known for their missed deadlines. It is more than possible for business owners, especially small business owners, to operate without employing office managers, but it can be difficult to do. Those without office managers need to rely heavily on their employees. Even if you do decide to hire an office manager, it is important that you are clear as to what is expected of him or her.
Another option that you have, when looking to bring office management into your small business, involves using office management software. Office management software is software that combines a number of programs all into one. It is common for office management software to have task lists with important dates highlighted, easy to use email programs, form and document templates, payment tracking programs, and so forth. Whether your business employs an office manager or not, office management software can be of great assistance to you.
Staying up to date in the latest in business and office management is another easy way for small business owners, such as yourself, to bring order and management into your office. You can easily use the internet, business magazines and journals, or office management seminars, to your advantage. These resources may provide you with updated information and successful tips and tricks that you can use to bring order into your office, whether you officially employ an office manager or not. Staying up-to-date on the latest in business and office management is important for all small business owners, as many do not have the resources and budgets needed to compete with larger business any other way.
The above mentioned tips are just a few of the many that you and other small business owners can benefit from using. As a reminder, small business office management is important, but it can come in a number of different formats, including the format of a hired office manager.
small business grants | grants for businesses
Small Business Credit Card - Keeping Business and Personal Separate
It can be a challenge for small businesses to acquire the proper funds they need to set up shop and/or to keep it running smoothly. It is also difficult to keep business and personal accounts separate and to build business credit. As a new business owner, a small business credit card might be just the thing you need. If you have an established business, than a business credit card may be a convenient way for you to manage your cash flow or provide emergency funds when your money gets tight.
Personal Liability For Corporate Spending
Lenders are not quick to give lines of credit or business credit cards to new start-ups and small business that do not have an established business credit history. Banks use your personal history when considering you (and your business) for credit. You will be personally liable for all spending using your business credit card and reports will be made by the three consumer credit agencies (Equifax, Experian and Transunion), rather than business credit agencies.
Having your business credit card accounts linked to your personal accounts isn't the best situation. Large lines of credit for your business may make your personal financial situation appear worse than it really is. If you're late on a payment or default on a business account this could damage your personal credit history too. Less than good credit can affect your purchasing power and increase your interest rates. You lose options and money. The bottom-line - use a business credit card wisely and keep a clean credit report.
Shopping Around For The Best Credit Offers
If you already started looking around for small business credit cards, you know there are hundreds of cards to choose. From zero percent introductory rates and no annual fees to frequent flier credits and cash back rewards. How can you possibly know which one to choose?
The great thing about small business credit cards is that they offer a few more perks that cater to the needs of business owners, as compared to personal credit cards. Low APRs... large credit lines... grace periods beyond 30 days... frequent flier programs... no fee employee credit cards... Take time to shop around. Depending on your spending requirements and business needs, you can find a business credit card that works best for you.
Building Your Credit
Once you've opened up a new business credit card, use it to make purchases on a regular basis and pay off your balances each month. Pay close attention to your personal credit report, ensuring that it stays free of errors, late pays and delinquencies.
After two to five years, you can request that your business accounts be separated from your person accounts. If you can prove that your business is viable and your personal credit history is squeaky clean, then most banks and business credit card issuers will remove the personal liability clause. All business's financials will be reported exclusively to business credit agencies and your business spending will no longer be linked to your personal accounts.
Although small business credit cards aren't considered capital, they can be a tremendous help in the running of your business. In tough times just starting out, it can also add a sense of security. Establishing business credit is difficult but with a little basic knowledge business owners can enjoy many benefits of financial freedom. From making purchases online or cashing in on those frequent flier miles, you can effectively manage your cash flow and even save money with small business credit cards.
small business grants | grants for businesses
Personal Liability For Corporate Spending
Lenders are not quick to give lines of credit or business credit cards to new start-ups and small business that do not have an established business credit history. Banks use your personal history when considering you (and your business) for credit. You will be personally liable for all spending using your business credit card and reports will be made by the three consumer credit agencies (Equifax, Experian and Transunion), rather than business credit agencies.
Having your business credit card accounts linked to your personal accounts isn't the best situation. Large lines of credit for your business may make your personal financial situation appear worse than it really is. If you're late on a payment or default on a business account this could damage your personal credit history too. Less than good credit can affect your purchasing power and increase your interest rates. You lose options and money. The bottom-line - use a business credit card wisely and keep a clean credit report.
Shopping Around For The Best Credit Offers
If you already started looking around for small business credit cards, you know there are hundreds of cards to choose. From zero percent introductory rates and no annual fees to frequent flier credits and cash back rewards. How can you possibly know which one to choose?
The great thing about small business credit cards is that they offer a few more perks that cater to the needs of business owners, as compared to personal credit cards. Low APRs... large credit lines... grace periods beyond 30 days... frequent flier programs... no fee employee credit cards... Take time to shop around. Depending on your spending requirements and business needs, you can find a business credit card that works best for you.
Building Your Credit
Once you've opened up a new business credit card, use it to make purchases on a regular basis and pay off your balances each month. Pay close attention to your personal credit report, ensuring that it stays free of errors, late pays and delinquencies.
After two to five years, you can request that your business accounts be separated from your person accounts. If you can prove that your business is viable and your personal credit history is squeaky clean, then most banks and business credit card issuers will remove the personal liability clause. All business's financials will be reported exclusively to business credit agencies and your business spending will no longer be linked to your personal accounts.
Although small business credit cards aren't considered capital, they can be a tremendous help in the running of your business. In tough times just starting out, it can also add a sense of security. Establishing business credit is difficult but with a little basic knowledge business owners can enjoy many benefits of financial freedom. From making purchases online or cashing in on those frequent flier miles, you can effectively manage your cash flow and even save money with small business credit cards.
small business grants | grants for businesses
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