Small Business Management, Administrative Techniques

Every small business has to apply administrative methods. A small business does have different needs to that of a larger concern and in this article we will be discussing some vital administrative techniques.

Cash flow

One of the most important factors of small business management is "cash flow", although small business management encompasses many different and varied aspects. Without cash flow you can do very little. So a firm grasp on this concept is vital. "Cash flow" is the amount of money that is available to keep the small business operating. Remember to overestimate on operating expenses and underestimate income. Keep extra cash flow for unexpected expenses and work from a regularly revised budget.

Cash flow is and has always been a big issue for small business managers. Factoring is a way in which small business management can take advantage of improved cash flow to improve the chance of growth.

Keep Inventory Moving

It might be tempting to stock up on too much inventory in order to be prepared. This is not necessarily true and can be wasted money. Inventory should not go beyond a quarter of what is required in order to keep it moving. Calculating inventory is based on realistic values according to sales.

Marketing

Small business management has got to include marketing. Marketing should never stop as it is the only way that customers will be aware of the business. If marketing stops, the business will stop. Funds should be set aside in the monthly budget for marketing purposes. Marketing may be conducted through use of the internet, flyers and newspapers relatively inexpensively and has to be an ongoing process.

The internet is a powerful marketing tool that is becoming the center of the world of trade. If your small business is aimed at an international market then it is vital to take advantage of this powerful marketing tool.

Target the Marketing

Targeted marketing is essential. If the small business is marketing and not receiving a response, then it is advertising in the wrong market. Get to know who your potential customers are and target business marketing to them. In this way it will be noticed and will not be a waste of money.

Books and Finances

All books must be kept up to date, this is the only way to keep you finger on the pulse of the finances in the business and is integral to small business management. You must make it clear to customers that products and services have to be paid for in good time. Keep all invoicing, tax and purchase receipts at hand in an orderly fashion. Learn to use and read profits and loss statements.

Presentation

If the business is situated in premises, part of small business management means that the premises have to be kept in a clean and presentable way. In particular the area in which customers come. This leaves a good impression on the customer; it is true that "cleanliness is next to Godliness". A dirty shop front will not attract old customers back nor encourage new customers to enter.

Brian Layne writes for Trianglease Magazine and has helped to compile a resource list for self-employed small business owners at http://www.organizedlivingworld.com/recos4independent.com

Article Source: http://ezinearticles.com/?Small-Business-Management&id=1231411

Women and Small Business

In the book Women and Small Business author gives all the guidelines and tools need to start, operate and succeed in a business of their own. In the mentioned book she tried in the fist part to explain how has changed the role of women in the world along centuries. In the second part she researched all neccesary abbilities of women who like to start up their own business,make differences among women and men owners and gave advices to them.Additionaly, she made some very important questions which need answers for all prospective owners,as following: What is my reason for starting a business? What type of business can I start? What skills, interests, and personal qualities will I bring to the business? What are my strengths and weaknesses as a business owner? What fears must I overcome? In the third part she gave Case study based on MS Project which could be on a special use for their business ideas from the very beginning to their realisation in praxis.This information will help them form some opinions about the overall climate and how their idea might fare given current conditions. As they become more convinced of its potential, they can delve deeper into specifics that will ultimately become part of a formal business plan. Everything they discover will contribute to their idea's potential for success Dr Mirjana Radovic pointed that ideas are the currency of entrepreneurs and therefore they must play with many ideas and see which ones bring money and success. The reality is that some businesses may not be profitable enough to provide a living. Other business ideas simply aren't marketable in some trade area or there might be too much competition already. They may or may not have enough capital to get the business off the ground or to secure adequate business financing. So this book provides the tools with which to make decision whether or not to open own small business. In the fourth part of the study she presented the latest results of researching related to women leaders and their position in the business world,i.e. how does people look at ( divided into sex,ages and level of education) women leaders and if they trust them.She compared results of one of the latest researching in the USA with the results in Serbia and Montenegro.Her scientific task was to make some conclusions and to point out some special characteristics of Balkan region .In the fifth part of the book she wrote about some limitation in achiving business success-Enterprenurial Phobia,Intuition and Managers desease among women.Finally,she gave some key points of her researching work and presented conclusion with the stress on the future position of women engagement in the business, where was long domination of men. Dr Radovic has spent over twenty years as a scientist.She has been a professor,a researcher and an author of eight books devoted to business management and enerprenuarship.Also,Dr.Radovic has written numerous articles ,reviews and essays in a number of professional journals and popular magazines. A native of Belgrade, she holds a Bachelor's Degree in Economics from Belgrade University, Faculty of Economics. In 1982, she earned her Master?s Degree in Theoretical Economy and eventually a PhD in Economics from Belgrade University. She guest lectured at a number of universities, foundations and institutes in Moscow, The Hague, New York, Washington DC, San Francisco, St Paul, Atlanta, Portland, and New Orleans. She won a scholarship from the United Nations twice - to attend Lomonosow University (Russia) and Kerala University (India).This year she got invitation to teach students in Japan and India.Currenty ,she is adjunct professor at F.Dickinson University,NJ.Lacrosse University,MO and Akamai University,Hawaii.

Article Source: http://ezinearticles.com/?Women-and-Small-Business&id=2790