Helpful Business Resources
One of the most critical assets of any business at any stage is people. These people are your employees. Sometimes when growth is no longer your objective, it is easy to forget about this critical asset. But, the most important skill you need to possess as a business owner is the ability to make people want to follow your lead. Without this skill, your business will be a form of managed chaos. You can source lots of information from the web. Here are several websites devoted to human resources issues:
Classified in the field of Human Resources are hundreds of labor laws that employers must follow. Litigation in EEO or sexual harassment is not how you want to spend your company's profits. This is only a beginning list of web sites discussing labor law.
Some business people will go their entire career and never have litigation surrounding their business. Other industries have a bullseye on them waiting for the next legal action. Today you have to stay abreast of employment law, product liability, state and federal laws and local ordinances that can be an obstacle to your business. Remember these sites are for information only and are not intended to be a substitute for good legal advice from a qualified attorney.
Watch the Cash
Good businesses fail daily because the management team is not focused on managing the cash flow of the business. As a business owner you must know the accounting system and all the "catch phrases" surrounding your industry. Receiving collection calls is not time to discover your bookkeeper has taken your money. Pay CLOSE attention here. Develop and understand your accounting system and review it at least once a month.
Cash Flow Analysis
Cash is KING in business. If you have it, you make the rules. If you don't have it, then you are at the mercy of others. When developing business records, the cash flow statement is more important than an Income and Expense Statement. Learn more about cash flow at www.allbusiness.com
U.S. Chamber Resources
- U. S. Chamber of Commerce Small Business Center
- www.SharingSolutions.US - Resources for businesses to address the opioid crisis
TVA Business Resources
Tennessee Valley Authority supports small, disadvantaged, minority, and woman-owned firms and targeted commercial-sector businesses through strategic partnerships, outreach activities, networks, electronic tools, and business assistance. The goal of these initiatives is to ensure the growth and success of the Valley's business. Below are several small business documents that may prove helpful to you.
- Comprehensive Services
- Business & Industry Services
- Economic Research and Analysis
- TVA Supplier Brochure
Tennessee Small Business Development Center
The Small Business Development Center is a nonprofit organization that helps new entrepreneurs with advice regarding starting a business, business planning and modeling to funding. This is a free service for as long as you stay in business. They teach classes on startup, business planning, IRS taxation, and one-on-one counseling sessions by appointment. Take full advantage of the services offered by the TSBDC. To make an appointment with the Tennessee Small Business Development Center contact Kasey Ferguson
Other Internet Biz Tips
The internet gives us a huge data base of information right at our fingertips. Listed below are sites that are devoted to business and some contain articles to help you in your business.
- Small Business Administration: www.sba.gov/
- Business Resources: www.inc.com
- Taxation: business.usa.gov
- Small Business Help: www.sba.gov/national-small-business-week
- Business Discussion Boards and Forums: www.allbusiness.com
- Small Business Resources: www.uschamber.com
- IRS site for small businesses: www.irs.gov