Small Business and Self-Employed Business Owners Help Center

A 10 Step Guide to Successful Small Business Management

Print out the Step-by-step Checklist

Make your business run better and more profitably

Table of Contents

Ten Building Blocks
to Success:
 1. Starting a Business
 2. Financing a business
 3. Company Name
 4. Office Equipment
 5. Hiring
 6. Business Insurance
 7. Advertising
 8. Efficiency
 9. Pension Plans
 10. Succession Plans

Checklist for Success

 More Useful Advice:

▪ Life Insurance

▪Disability Insurance

▪Medical Insurance

▪Long Term Care

▪Travel Insurance

▪Dental Insurance

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Step 8: Efficiency & Time Management

We find that one of the biggest obstacles to success is time management. People complain that "business is bad" or "we don't have enough clients." Truth is, if they were better organized they would make more money. How many times have you heard someone say, "I need to be better organized." Follow our guide and you will be.

(1) Don't put it off.
    If you have something important to do them do it or have someone else do it. And do it today! It won't go away. If it's for a client they will appreciate your timely action.

(2) Make Sunday calls.
    Confirm your appointments for the week on Sunday night. You'll probably get an answering machine but that's OK. Your dentist and doctors offices do this every day before they can go home. Makes the next day run smoothly.

(3) Vacation Planning.
    Two very important points about vacations.
        (a) Take that vacation. You need a break from work and a chance to relax and think. Have fun. If you can, try to schedule a vacation when business is slow or when you have backup at work.
        (b) Make sure you have backup. Don't just leave and let the answering machine take messages. You'll lose business and customers. Either have someone monitor the calls or get an answering service. Have them tell the caller when you'll be back and see if they can schedule appointments for you. Wouldn't you like to return home from vacation and have appointments ready?

(4) Answering machine or Answering service.
    The answering machine. Have a professional message on a separate phone from the home number. Have an adult record the message. A child sounds cute but the caller won't like it. This tells the caller you're a professional and you take their call seriously. If you don't like the sound of your voice on the message have someone else do it. Make sure the message is clear, not scratchy or faint. If the caller can't hear your message they'll hang up and you've lost business.
    An answering service is more expensive but for many professions, such an medical and legal, it's important. You might need the service go get in touch with you in the event of an emergency without you having to leave your cell phone number on the message. If you do that caller will call you no matter what the reason is!

(5) Bookkeeping.
    Whether you do your own taxes or use an accountant it pays to have software to organize your payables, receivables, payroll, tax payments, etc. An excellent product is QuickBooks. They have several products that range from simple to complex. Get the one that has what you need. It will run about $150 and you can use it for years.
    If you feel comfortable preparing your own taxes then purchase Turbo Tax. This is NOT recommended unless you are comfortable filing your own taxes. If you're not familiar with the tax laws then an accountant can save you time, money and aggravation. Ask a few people if they like their accountant and what they charge. Most small businesses can find an excellent accountant who will do their business and personal taxes for about $1,200. In some parts of the country it's as low as $300.

Move on to Step #9: Pension Plans.

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