FORUM WORKSHOP
Forum Workshop
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Limit Your Payroll
Donʼt hire support personnel too soon. Again, if
you are just starting, you have to be your own
secretary and bookkeeper. You have to limit
Y
your payroll to the number of people who have
skills that will let you run your business. You
Y
must be your own salesperson even if it isnʼt
one of your skills, when you start. No one else
will work as hard or as long to build your business as you (and possibly your family). You
Y
should do your own bookkeeping because if
you hire someone too soon, you will lose touch
with your business. You will be so busy trying to
Y
get clients that you wonʼt have time to look at
the books; and since someone else will be
doing them, you wonʼt understand the necessity
of doing so. You have to do the books; you
Y
must know how much money your business is
generating every day. You must be in touch with
Y
receivables, payables, and cash flow. If you
donʼt have decisions based
on the assumption that everything is fine all
the time. This is
never true. And
itʼs especially
never true for a
company just
starting out.
continued...
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