Small Business

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Business

Small steps today. Big success tomorrow.

Your business plan will help you figure out how much money you’ll need to start your business. If you don’t have that amount on hand, you’ll need to either raise or borrow the capital. Fortunately, there are more ways than ever to find the capital you need.

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Business

Starting Your Business

Controlling Cash Flow

Your business plan is the foundation of your business. It’s a roadmap for how to structure, run, and grow your new business. You’ll use it to convince people that working with you — or investing in your company — is a smart choice.

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Business

Increasing Profitability

Small business owners need to change their practices to focus more on profit, according to Patricia Sigmon, founder and president of David Advisory Group, a firm that specializes in helping CEOs and small- to mid-sized businesses re-engineer their business practices. Sigmon, the author of the book, "Six Steps to Creating Profit," notes that nearly two-thirds of small businesses either don't make a profit or fail to increase their profits from the year before.

Growing Your Business

On the flip side, to trim expenses, try auditing your administrative functions. Are there routine tasks you could afford to outsource or eliminate to save money? Would it be more cost-effective to hire part-time help instead of a full-time employee to do some of these tasks?

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Business

Protecting Your Assets

If you don't properly protect your assets, which you worked long and hard to accumulate, they can be lost very quickly in a lawsuit or bankruptcy or if creditors come to collect. It's important to be aware of the laws that can shield certain types of assets and the measures you can take to protect your savings.

Planning for Business Transition

You may think doctors, corporate executives, and those in other litigation-prone professions are the only ones who need to worry about protecting their assets. Not so. There are many circumstances in which your assets can be attached or garnished, including if you file for bankruptcy, get a divorce, or are on the losing side of a civil lawsuit.