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