If you just started a small business or are thinking about it you know that there are books and books of advice out there. While some advice can be helpful too much can be overwhelming and can make you turn away completely. Still, its always a good idea to listen to the wisdom of those who went before and have learned the hard way so you dont have to. Here are the top tips for small businesses.
Use a business plan. Start by writing a detailed business plan that you can use throughout your startup and beyond. The plan should include a statement of purpose or mission statement, which can help to guide you not only on startup but also all through the business. The plan also needs to detail the finances of the business.
The finances of the business include all the expenses for the business along with the projected sales. Overheads such as rent, utilities and postage charges must all be considered as well as other key budget items such as advertising. Dont forget about one-time fees for business startup, licenses and inspections.
Another cost for all businesses is the monthly telephone charges.
Dont skimp on insurance. Always get the full insurance...