A business plan is the cornerstone of starting a business as well as a significant tool for monitoring the progress and growth of your company. Below are 10 key reasons why you should have a business plan.
1. To Attract Investors. Before investors can decide whether or not to back your business financially, they will need to know as much as possible about how the business will operate and how their investment will be spent.
As business owners, we all know it's true: Cash is king! Without it, your business couldn't survive. That's because you need cash to operate and grow your business. How else will you ensure you're able to purchase supplies, pay your rent, advertise, hire employees or take care of the myriad other business activities that require money?
Cash flow is the lifeblood of any business, and it's imperative that you understand the inflows and outflows accordingly. So let's take a closer look at just how cash flow works:
As small business owners, we want to be the best leaders possible. If you’re new to business management, you may not know how to go about just that. I’ve found 10 very useful articles that may give you some new insight into managing your small business better. Each article has something different to offer readers so be sure to see them all. Enjoy!
Kicking Them When They’re Down: How Not To Fire An Employee - Skip Anderson pleads with managers to act professionally when terminating an employee.
Hiring From Outside The Company: How New People Can Bring Unexpected Problems - Knowledge@Wharton weighs the pros and cons of hiring employees without prior experience in your business’ industry.
7 Tips To Make Sure You Get Paid By Clients - Men With Pens provides a collection of tips to help you make sure you always get paid by your customers.
How To Create A Reutation For Honesty As A Leader (Part 1) - This 3 part series, written by John Cameron, starts with a lesson on the importance of making fewer promises and following through on all of them.
How To Create A Reutation For Honesty As A Leader (Part 2) - This second portion ellaborates more on how making one simple change can show employees that you are serious about keeping your promises.
How To Create A Reutation For Honesty As A Leader (Part 3) - This third and last installment is all about trust. John discusses how you as a leader can help employees deam you as a trustworthy leader.
41 Awesome & Timely Leadership Principles - SmallBizBee.com posts this list of quotes which gives insights into what it takes to be a good leader.
How To Retain Employees Without Pay Raises - Zane Safrit offers this timely article of great benefit in these challenging economic times.
10 Must Do Steps Before Termination - HR Daily Advisor offers this checklist of ways to handle terminations while avoiding lawsuits.
Steer Clear Of These 10 Illegal Job Interview Questions - A helpful Tech Republic list of questions to avoid when conducting an employee interview.
SOURCE: http://www.smbceo.com/2009/03/09/10-valuable-small-business-management-leadership-articles/
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