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5 Step Venture eMentoring Program™

Session 5: Business Launch and Monitor Progress

Module 5d: Monitor Progress

All too often, people get so consumed with the day-to-day issues of running the business, that they forget about or do not allocate the time and resources for the bookkeeping, record keeping and other management tasks that are essential to making sure that their business operation is on track and that problems are not developing that they may be unaware of. These tasks are just as important for a part-time business as any other business, and so it is essential that you make sure that you have a plan to monitor and control your operation.

Start-up operations frequently ignore the need for these activities or plan to do the tasks themselves. Here is an area where hiring the right professional is not only smart, but can (and should) be a critical part of your management plan. If you have employees, a payroll service is a bargain. Surprisingly, the IRS is a very valuable resource, not only laying out your business tax responsibilities, but providing much other helpful advice as well.

Record Keeping and Management

The Free Tools section of BUZGate.org contains a wealth of management information and related tools. You can read articles and download worksheets on a range of topics.

The US Small Business Administration (SBA) website provides links to a number of free publications that deal with a wide range of small business development and management issues.

The Internal Revenue Service (IRS) website provides valuable information about what records to help track and monitor the progress of your small business. Read the information provided there and select additional links relative to your own perceived record keeping needs.

Now on to 5e: Counseling Resources

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