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Operations
Strategy for Streamlining Your Processes
Every startup has to develop a process for doing business. Whether that means the business owner has sketched a detailed map of each employee’s day-to-day functions or merely drawn out a list of guiding principles that lead the organization through each and every business transaction.
Cast Your Net Where the Big Fish Swim
This is one of those “My dad used to say” homilies. You’ve probably heard the accompanying “It takes just as much effort to sell a small deal as a big one,” over the years. The truth of this is more nuanced.
Outsourcing Payroll vs. Doing It In-House
When you first started your business, doing the payroll was pretty easy. You paid yourself and maybe one or two employees. You could do the whole shebang in a couple of hours using desktop PC software. Now, though, your company has grown.
Where Should You House Payroll for Your Small Business?
Every business must have payroll in some form or other. Traditionally, payroll has been one of the most outsourced processes in the business world. But despite the number of solutions available, the choice boils down to a simple dichotomy—keep your payroll in the hands of in-house administrators, or outsource your payroll to a traditional payroll service.
You Must Hire Professional Consultants
Since many new entrepreneurial ventures are often started on a shoestring budget, where you spend your financial resources can be a prickly situation. When is the right time to get yourself legal help? Do you really need an outside person to do your books or can you do it yourself?
Protect Your Cash, Part 3
If you implement the policies that prevent the same person from handling all the cash and banking functions, plus review receivables, payables, and your financial statements regularly, you will have a better chance to catch anything questionable early on.
Protect Your Cash, Part 2
In this second of three parts, here are more easy procedures to implement so that you protect your hard earned cash. The person who signs the checks is not the same person who balances the checkbook.
Protect Your Cash, Part 1
There is no sense in doing the work if you’re not collecting the cash for the work you do. That, from a business standpoint, is one of the most important things to do. But once you get the cash in the door, you must make sure you protect that cash from employee theft and other mismanagement. There are some simple and very easy things that you should do to make sure that you protect your hard earned cash.
Let’s Celebrate Administrative Professionals Day!
April 24, 2013 was Administrative Professionals Day. It’s an important day to remember the important work of secretaries, administrative assistants, receptionists, and other professionals.
Paying Employees Who Do Not Have Bank Accounts
Many employers use direct deposit to issue paychecks. However, this is a problem for employees without bank accounts, and in certain industries there are large numbers of “unbanked” workers. But you have some options about how to solve this problem.
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