Check all that you currently have in place or use to manage your business, then read below for more information about why you need all of these to be set up for success.

When you're ready, send a proposal request to get help. Be sure to include a description of what you need.

Avoid penalties and possible business closure due to lack of proper licensing. Running your business as a separate entity from your personal life is required unless you are a sole proprietor and still a good way to conduct business if you are a sole proprieter. Keeping all you business activity and finances separate from your personal life projects a professional image and looks better to your customers, especially potential customers.

Funding and Budget:

If you are a new business just getting started, do you have start up money to cover all your expenses for the first few months of the business? Not all businesses will show a profit right away and to enable success these first months should be funded before you take your first client or offer your first product. How much will this amount be? This is where budgeting comes in for a new business. By budgeting (estimating revenue, costs and other finances) for the first 6-12 months, you can estimate the amount of start up money you need. If you are an established business, budgeting for 12 months ahead will help you spend your funds strategically and avoid overruns, which will strengthen your cash flow.

Accounting System:

Having a computerized accounting system in place, or even a manual system, is critical to your business success. Tracking your business' financial and other activity should be done daily and all financial transactions should be recorded daily. Catching up at the end of the week or month is not a good strategy for managing your finances. If you have a computerized system and you keep up with the entry, you will have information about your finances ready in case you are asked for it by a bank or auditor or when your are planning your next strategic step to grow your business.

Plans:

When conducting strategic planning, it is important to establish your vision, set goals and objectives and plan your strategy step by step and in writing. By writing this down, you are setting the stage for tracking your progress and being able to determine how well your business is performing. Also, if your are looking for investors or applying for loans, you will need to provide this information up front in your presentation or loan application and this is an activity you should not be rushing through. Strategically planning for the future of your business should be done thoughtfully and carefully and in writing.

Policies:

The policies you base your operating and other activities on should also be written. These policies affect every facet of your business and every person inside or outside your business who interacts with your business. You will need to communicate these policies and enforce them consistently to many people. Therefore, these policies should be carefully thought through and put in writing.

Employee Manual:

If you have employees, you need to have an employee manual so that all your employees know how you expect them to conduct themselves as people in your business and also what to do in certain situations to get resolutions to any issues that might arise.

Function Assignments:

The second list above, gives you an idea of the many business functions that need attention daily and that need management. If you are just starting out, you alone or you and a few other partners or employees may be able to fill them all by "wearing many hats". However, once your business starts to grow, you will find your time is limited and will need to get help with at least some of these. At that point, you can consider automating, hiring or outsourcing. In any case, if you do not currently have employees for each of these, you should at least begin thinking of how to cover all these functions. If you want help, send a proposal request to get it. Be sure to include a description of what you need.