Running A Small Business
By Francis R. Carroll
Carroll is the founder of Small Business Service Bureau Inc. in Worcester, which provides small companies with management assistance, legislative advocacy and expert advice on health care reform.
10. Learn The Business
Whether you are starting a business, or have been in business for more than 30 years like me, work to learn something new about your market, your industry, your competition, every day.
9. Develop The Plan
Don’t let your business plan collect dust. Revise it and work with it. It is your business bible. Update it and keep it current based on new market conditions.
8. Control Expenses
Particularly during tough economic times, work hard to control expenses. Keep overhead low to keep your profits high, your bills paid and your credit and reputation in good order.
7. Get Advice
Key advisors include a banker, a lawyer and an accountant. Listen to them.
6. Get Paid
Keep accounts receivable current. Don’t be afraid to ask to get paid.
5. Establish Goals
Set your goal. Complete it. Set another goal.
4. Attitude Is Everything
Be positive and persistent.
3. Talk It Out
Communicate. Frequently and often. Poor communication, however, with clients and employees costs your business money.
2. Be Honest
A basic tenet. There’s no need to elaborate on this one.
1. Learn Even More
The more you learn about your industry, business and competition, the more successful you will be.
