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WEEK 4—ACCOMPLISHMENT #1
FIND AND SECURE A LOCATION
OPTION 1—RENT SPACE—SEE CHART “THINGS TO CONSIDER WHEN RENTING SPACE”
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Decide on the necessary attributes of your location
Meet with a real estate agent
Compare properties
Consider whether you need more than one location
OPTION 2—SET UP A HOME OFFICE
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Find the space to work
Figure out your phone, fax, and Internet connections
Plan how to meet with customers
Decide whether you need a separate business address
Understand home-based office tax deductions
Deal with the kids and pets
OPTION 3—SET UP AN OFFICE IN YOUR VEHICLE
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Accomplishment #2—Design your work space and production process
Design your layout
Design your production process
Order/install utilities and facility improvements
Order furniture and equipment
Order inventory and raw materials
ACCOMPLISHMENT #4—RESEARCH AND PURCHASE COMPUTERS, SOFTWARE AND OTHER TECHNOLOGY
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Develop an approach to buying technology
Choose a phone system
Choose software
Get online
Find ways to get technical help
ACCOMPLISHMENT #5—CONSIDER HOW YOU WILL DISTRIBUTE YOUR PRODUCTS
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Their sales efforts and sales team
Their reputation and relationships with customers/retailers
Their expertise in understanding the market
Their advertising and marketing efforts
Their additional services to you—warehousing, shipping, etc.
Their additional services to customers—shipping, product training or support, installation, etc.
ACCOMPLISHMENT #6—DESIGN PROCEDURES FOR HANDLING ADMINISTRATIVE TASKS
GENERAL OFFICE MANAGEMENT:
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Answering the phones
Responding to emails
Handling incoming mail and packages
Preparing outgoing mail
Answering customer inquiries
Ordering supplies
Scheduling
Project management
Managing the “to do” list
BOOKKEEPING/ACCOUNTING:
1. Paying bills
2. Sending invoices
3. Collecting on outstanding invoices
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Reconciling bank statements
Transferring funds from accounts
Preparing forecasts and financial statements
Meeting tax deadlines and completing tax forms
ORDER FULFILLMENT:
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Order taking
Packing
Shipping
Tracking shipments
Handling customer complaints
Insuring sufficient supplies and inventory levels
MAKE THE MOST OF YOUR TIME IF YOU:
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Maintain a calendar and keep it visible
Make a “TO DO” list
Prioritize
Set time aside to do important tasks and don’t allow interruptions
Reduce shopping time—make lists so you only have to make one trip or order items online
Eliminate errands—keep a list of errands and do a number at one time
Use your “Vital Statistics”—keep this list handy so you don’t have to keep looking them up
Make color-coded files—i.e., blue files for client project-related documents, green files for financial information,
yellow files for suppliers, or whatever works for your company.
9. Keep frequently used files handy: get desk with at least one file drawer so you can use the files you need
regularly w/o having to get up.
10. Become an email power user—set up folders and filters. Create your address book or email “groups” to those
you’ll email regularly.
11. Handle mail once—as soon as you read it; deal with you. If you don’t need it; throw it out. If it should be filed, file
immediately. If you have to take action, do so.
ACCOMPLISHMENT #7—DEAL WITH INSURANCE
Insurance is one of the most frustrating expenses you will spend money on. You cant see what you are getting….you will
be overwhelmed by the different types of insurance you’ll need or want.
You will need an insurance agent who knows what they are doing.
Consider three aspects of insurance:
INCENTIVE: insurance you want because its desired by your workers (including yourself) such as medical, dental, life,
and retirement.
PROTECTION: insurance in case something unexpected happens: liability, accident, fire, theft, business interruption.
LEGAL NECESSITY: insurance others require of you; perhaps your landlord; such as fire, or liability, or required by law;
such as worker’s compensation if you have employees.
Health insurance is the kind of insurance most desired by your employees. To keep costs manageable, you may want ot
look for health insurance policies provided by either:
HMO—Health Maintenance Organization: one specific provider of physician and hospital services.
PP0—Preferred Provider: for a wider range of doctors and hospitals that agree to set prices for services. Make certain
there is a long and good list of choices for you and your employees.
 Do you have or do you want to provide the same benefits for all employees?
 How much of a contribution do you want to make to employees’ coverage? What % of coverage or what dollar figure?
 Do you want to pay all or part of dependent coverage?
 Do you want to include domestic partners in dependent coverage?
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CAFETERIA PLANS allow you to give your employees a certain amount of money and they can decide how best to use it
to meet their individual needs. These may be a little more costly to set up, but are good when you have a diverse
workforce.
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