Retailers Forum Magazine AUG 2014 | Page 72

FORUM WORKSHOP Forum Workshop 7 2 • A U G U S T 2 0 1 4 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... Start Your Own Merchandise Business With No iNveNtory • No business license or tax ID required • We ship orders hassle-free • Serving USA, Canada, UK • All popular brands F O R U M Clothing • Electronics • Jewelry • Home Goods • Toys • Sports • Computers Turnkey website also available FREE Info www.EZDropship.net Over 1 Million Products