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More Free Advice & Information From Nancy Black at Organization
Plus
BUSINESS ADVANTAGE: Ask the Organizer Column / May 1999
National Small Business Day, May 10, 1999
This month my column is dedicated to small business owners in honor
of National Small Business Day. Small businesses are the fastest growing segment of our
economy. Many people decide to start a business because they were victims of corporate
downsizing/merger, burnout, or because they have taken early retirement. As life
expectancy increases, many retirees are embarking upon second careers. The desire to
provide a service or sell a product is what motivates people with the entrepreneurial
spirit to start their own business.
"entrepreneur n. one who organizes a business
undertaking , assuming the risk for the sake of the profit" - Webster’s New
World Dictionary
RISK Dynamic lives are full of risks. What
adjectives best describe your feelings regarding risk? Is it worth the risk? What are the
worst consequences if your business is unsuccessful? What are the benefits if your
business is successful? Will risk help you reach your goal? After you have already taken a
risk, was it worth it? The #1 risk in business is borrowing money. Never risk more than
you can afford to loose.
BUSINESS PLAN People don’t plan to fail, they
fail to plan. The Small Business Administration offers free business consulting through
SCORE. These counselors can help you write a business plan.
For guidelines on writing a business plan check book and web site
listings.
YOU MUST HAVE A BUSINESS PLAN TO APPLY
FOR A BUSINESS LOAN
If you have always worked in the corporate culture it is important
that you are aware of the responsibilities of an entrepreneur vs. the corporate structure.
If you have not worked in a corporate environment, the following chart will heighten your
awareness of a business owner’s responsibilities.
RESPONSIBILITIES OF AN ENTREPRENEUR VS.
CORPORATE STRUCTURE
| ENTREPRENEUR |
CORPORATE STRUCTURE |
|
|
| Decision Making |
Level I - President, Exec.
V.P. Secretary |
Accounting
Bookkeeping |
Level II - V.P. Finance |
| Creating Product or Service |
V.P. Research and
Development |
| Production |
V.P. Production |
Marketing
Advertising |
V.P. Sales |
| Telemarketing |
|
| Press Releases |
V.P. Public Relations |
| Business Planning |
Level III - V.P. Corporate
Planning |
| Distribution & Packing |
V.P. Distribution |
| Managing Products/Services |
V.P. Products/Services |
| Record Keeping |
V.P. Records Control |
| Personnel |
Director Personnel |
| Filing |
Administrative Assistant |
Computer Entry
Copying |
Administrative Assistant |
|
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Making decisions gives us the freedom to control our own lives.
GROWING PAINS Fast growth is like a rose; the
business blooms beautifully as you hoped, but there are dangers in the handling.
As your business grows you need to analyze its strengths and
weaknesses. Make an organization chart listing the tasks of each person or department. Do
you have enough employees to accommodate the growth of your business? If hiring more
employees isn’t an option, consider using outside consultants, or services, as
needed.
Note: Most small business owners are so busy focusing on the goals
that they have not reached, that they do not give themselves credit for what they have
accomplished. Take a moment to give yourself a pat on the back.
SUCCESS "The secret of success is being
crystal clear as to your purpose and directions, and having the courage to act
accordingly".
- Secrets of Success by J. Donald Walters
***Ask the Organizer is a monthly feature, written by Nancy Black, a
Professional Organizer and Business Coach and principal of ORGANIZATION PLUS, in Beverly.
Nancy is a member of the National Association of Professional Organizers Golden Circle.
Web Site: www.organizationplus.com
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