Managing a Small Business

Managing daily operations of a small business includes numerous tasks including the following:

• Buying and maintaining adequate insurance (theft, property damage, liability, business interruption)
• Insuring that federal, state, and local taxes are paid
• Maintaining employee records
• Negotiating leases
• Applying for and obtaining all applicable legal permits
• Ensuring that accounting and bookkeeping systems are within accepted standards
• Managing vendor relationships
• Development of service/product including pricing and distribution
• Building customer relationships
• Controlling expenses and tracking financial position
• Managing inventory
• Marketing, promotion, and networking
• Meeting with bankers, lawyers, tax advisors, and consultants