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Wednesday, April 28, 2010

5 Tips for Business


5 Tips for Developing Policies for Your Business


  1. Think ahead. Establish policies before you

    need them.

    Doing so helps avert crises and awkward

    situations,

    and helps solve problems before they arise.

  2. Determine what policies you need. Some you’ll

    want early in your business include a mission

    statement, as well as compensation, performance

    evaluation and employee policies.

  3. Get input from key employees, as well as from

    members of your advisory board, your board of

    directors, and/or your professional advisors and

    consultants.

  4. Communicate policies to everyone in your

    business.

  5. Review policies on a regular basis—once a year,

    for example—and revise them as necessary.


    5 Tips on Choosing a Location

    for Your Business

    1. Find out if local zoning laws permit your

      kind of business at the site that you desire.

    2. Make sure the site has adequate public

      services—such as water and sewer services,

      trash collection, adequate drainage,

      and police and fire protection.

    3. Determine if there’s adequate, affordable

      transportation. Can your employees get

      to work? If you’re a manufacturer,

      are trucking services available?

    4. Consider the surrounding community.

      If you’re a high-end retailer, for example,

      are there sufficient high-income households

      nearby to support your business?

    5. Look at the other businesses in the area.

      Decide whether or not having direct

      competitors will be helpful.


      5 Tips for Using Colleges and Universities

      to Help Your Business

      1. Volunteer your company to be a business

        school case study. You’ll learn much about

        your company in the process and get good

        ideas for the future.

      2. Obtain management and technical

        assistance from one of more than 50

        Small Business Development Centers.

        Check the U.S. Small Business Administration

        web site at www.sba.gov for locations.

      3. Participate in special programs. Many colleges

        and universities sponsor venture capital forums,

        entrepreneurship centers and family

        business programs.

      4. Work with the business school to offer internships

        to graduate students.

      5. Find out what expertise is on a business school’s

        staff. You may find just the right person to hire

        as a consultant or serve on your board.



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