Tools To Help Your Business Grow
 By Lee S. Shaffer

Small-business owners can often launch a successful venture on a wing and a hope. But, if you want your business to grow, you need the proper tools.

Those tools include written processes and systems that give your business direction and a solid foundation. Here are a few basic tools you shouldn’t be without.

Accounting System
Stuffing receipts into an envelope might be fine for a solo entrepreneur just starting a business. But, if you want to take your venture to the next level, an accounting system is a must.

Only through careful and consistent accounting will you know how well your business is performing financially – or how it’s failing.

The accounting system you choose should at minimum:

• Track expenses and income

• Track accounts receivable and payable

• Generate invoices and statements

• Produce reports such as profit and loss, balance sheet and cash flow

AFS Members can save money on two accounting systems to meet your needs.

A-Systems Accounting Software provides smaller companies with business management tools as powerful as those used by big companies. You can monitor operating costs, perform financial reporting, track your payables and receivables – and much more. Plus, AFS Members save 50 percent off the retail price.

AFS has also teamed with Intuit, the makers of QuickBooks, the most widely used small-business accounting software. QuickBooks gives you the power to manage your business more effectively by providing you with fast, easy and integrated solutions to meet the needs of your business. AFS Members save 20 percent and get free shipping.

Business Plan
You might think that a business plan is strictly about the nuts and bolts of your enterprise. You’d be wrong.

Developing a business plan is as much about what you want for yourself as it is about what you want for your company. Creating a plan will force you to answer questions such as:

• What kind of lifestyle do you want for yourself?

• How many hours a week do you want to work?

• How large do you want your business to be?

• How much money do you want to make?

• When do you want to retire?

A business plan can be as simple or as complex as you want. But, to be effective it’s got to cover important aspects such as:

• Identifying your customers

• Determining marketing strategies

• Analyzing the competition

• Outlining financial needs

You don’t have to start from scratch when creating your business plan. Here are some resources to help you get going.

• Business Plan Pro from Palo Alto software offers an out-of-the-box, user-friendly solution

• You can search free business plans online at www.bplans.com

• The U.S. Small Business Administration offers help at www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html

Policy Manual
A policy manual spells out the rules of your business. And you should have one ready to go before you hire your first employee.

Here are some issues that should be covered in your manual.

• Hours of operation

• Salaries, bonuses, overtime pay, pay for vacations and holidays

• Benefits such as health insurance and retirement plans

• Disciplinary actions for certain types of misconduct

• Attendance rules and penalties for missing work or being late

• Time off for vacations, holidays, illness and personal issues

• Personal use of business equipment, such as computers and telephones

You can create a short and concise policy manual by starting small. Add to it as issues bubble to the surface.

Need help with your policy manual? Get guidance from the small-business consultants at ProTalk. With just a phone call or the click of your mouse, AFS Members can get personalized support from the professionals at ProTalk.

More Tools
As your business grows, try incorporating these tools, too.

A strategic marketing plan and budget

A customer database

A prospect database or contact software to track follow-ups

Job descriptions and career opportunities for employees

(Posted February 2008)

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