Small Business FAQ

Compare your budget occasionally with actual operations figures. With powerful records you can do this. Afterward, where
discrepancies appear you can take corrective actions before it's too late. The right choices for the right corrective action
depends upon your own understanding of management methods in buying, pricing, selling, selecting and training personnel, and
handling other management problems.

You're thinking you are able to employ a bookkeeper or an Accountant to deal with the record keeping for you. Yes, you can. But
remember two very important details:

1. Provide the accountant with accurate input. Should You Purchase something And also don't record the sum in your organization
checkbook, the accountant can't enter it. Should you sell something for money and don't record it, then the accountant won't
understand about it. The documents the accountant prepares will be no better than the info you provide.

2. Utilize the documents to make conclusions. If you moved to a doctor And he told you you were ill and wanted certain medicine to
get well, you'd follow his guidance. If you pay an accountant and he tells you your sales are down this season, do not hide your
head in the sand and pretend that the problem will go off. It won't.

Business Management Roll in Personnel Selection. If your business Will be big enough to require external assistance, an important
responsibility will be the selection and coaching of one or more workers. You may begin with relatives or business partners that
will help you. But when the company grows - as you expect it will - the time will come when you have to select and train
personnel.

Careful selection of employees is vital. To select the right Employees determine beforehand what you want each one to do.

Then look for applicants to fill these specific needs. In a small Business you will need flexible employees who can shift from
task to task as needed. Include this in the description of all the tasks you wish to fill. At the exact same time, look ahead and
organize your hiring to assure an organization of individuals capable of accomplishing every crucial role. In a retail store, a
salesperson may likewise do stock-keeping or accounting at the outset, but as the business grows you'll need sales people,
stock-keepers and bookkeepers.

When the job descriptions are written, line up applicants from whom To make a selection. Don't be swayed by clients who might
suggest relatives. If the candidate doesn't succeed, you may lose a client in addition to an employee. Some sources of potential
new employees are:

1. Recommendations by friends, business acquaintances. 2. Employment agencies. 3. Placement agencies of high schools, business
schools, and colleges. 4. Trade and industrial associations. 5. Help-wanted advertisements in local papers.

Your next job is to display want ad answers or program Forms sent by employment agencies. Some applicants will be eliminated sight
unseen. For every one of those other people, the application form or letter will serve as a foundation for the interview which
should be conducted privately. Put the applicant at ease by describing your company generally and the occupation in particular. As
soon as you have completed this, invite the applicant to speak. Selecting the right individual is extremely important. Consult
your questions carefully to learn everything about the applicant that is pertinent to this job.

References are a must, and should be assessed prior to making a final decision. Check through an individual visit or a telephone
call directly to the applicant's immediate previous manager, if possible. Confirm that the advice given you is correct. Consider,
with judgment, any negative comments you hear and what is not said.

Checking references may bring to light important information Which may save you money and potential inconvenience.

Personnel Training. A well-selected employee is only a possible Asset to your business. Whether he or she becomes a real advantage
is dependent upon your training. Remember:

To allow adequate time for training. Not to expect too much from The trainee in too brief a time. To allow the employee learn by
performing under real working conditions, together with close oversight. To follow along with your training.

Check the employee's performance after he or she was in work For a time. Re-explain key points and short cuts; bring the employee
current on new developments and encourage inquiries. Training is an ongoing process which becomes constructive oversight.

Personnel Supervision. Supervision is the next essential of employees control. Fantastic oversight will reduce the cost of
operating your business by cutting back on the number of employee mistakes. If errors are corrected early, workers will get more
satisfaction from their jobs and perform better.

Motivating Employees. Small businesses occasionally face particular Problems in motivating employees. In a large business, a good
employee can see An opportunity to progress into management. In a small business, You're the management. One thing you may wish to
consider is to give good employees a Small share of their proceeds, either via part-ownership or even a profit-sharing plan.
Somebody Who has a"share of this action" will be more Worried about helping to make a success of the business enterprise.

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