MANAGING A BUSINESS
ASBDC Professional Consulting Services
The ASBDC provides, at no cost, one-to-one professional consulting for business owners and entrepreneurs. Help available includes: advice on operating challenges in existing businesses, review of business plans and strategies, guidance in starting new businesses, preparation of loan requests, financial analysis and budget development. Because the ASBDC is a statewide organization, consulting needs can be met even for those who reside outside of Little Rock.
Over 200 FREE small business fact sheets (BizFacts) on starting and managing a small business in Arkansas. It takes over three reams of paper and a full day to print the more than 1,500 pages!
BizFacts Document #6002, Credit And Collections, describes developing a credit policy, performing a credit investigation and lawful credit collection procedures.
Do you know the six steps in selling items over the Internet? This six-step tutorial takes you through the process of developing, hosting, marketing, and operating an online storefront. Use the E-Commerce Assessment Tool to instantly determine if your business is ready for a full blown storefront or a simpler marketing site.
Less than one third of family businesses survive the transition from first to second generation ownership. Of those that do, about half do not survive the transition from second to third generation ownership. BizFacts Document #8501, Transferring Management in the Family Owned Business, provides details on how to transfer and continue operating a family-owned business caused by several scenarios, including death of the sole-proprietor.
BizFacts Document #2512, Is Franchising For You?, was prepared by the U.S. Small Business Administration and provides information on evaluating franchise "opportunities."
Can't understand the financial statements your accountant sends you? Are you experiencing "feast or famine" due to irregular cash flow. Here's over a dozen documents to help you solve the mysteries of recordkeeping, financial reports, and cash flow. Don't forget, the ASBDC provides, at no cost, one-to-one professional consulting for business owners on financial analysis and budget development.
Pricing Your Product or Services
The primary goal of business is to make a profit. Many small businesses fail to do so because they do not know how to price their products or services. Pricing is the critical element in achieving a profit and is a factor that all firms can control. BizFacts Document #1009, How To Price Your Products And Services, explains how to calculate costs and price your goods and services to remain profitable.
Here's over a dozen BizFacts documents describing the buying and selling of businesses. Topics including preparing the business, finding buyers, evaluating and pricing the business, and structuring and closing the buy/sell transaction.
Understanding Financial Statements
BizFacts Document #1531, Understanding Financial Statements: What Do They Say About Your Business?, by Terry Mercer, CPA, is a comprehensive workbook detailing the entire financial process from source documents and filing systems to analyzing income statements and balance sheets.
