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This article will help inform readers on one way
of starting and organizing a family business.
- One way of starting a family business is by organizing
a garage sale. Every member of the family can contribute
whatever item they want sold. As organization of the prices
and items are being made, promotion can be done all over
the neighborhood for the day(s) of the garage sale. Promotion
can be made through flyers or posters announcing the date
of the garage sale. This is a way of getting the neighborhood
to know that the family is in "business".
- Rebuilding the house can be done so that it can
accommodate office space and store space. It is good
not to go for appearance, as being practical can help
cut the costs of building the office and store. However,
the store can have more decorative elements while
the office should be constructed so as to facilitate
the work systems of the family business.
- Keeping track of the customer's and clients can
be done by organizing an index box with the necessary
information needed for every customer or client. Basic and
important information are: the customer's complete name, address,
and telephone number.
- For important business records, it is good to
reserve a special shelf or storage place in the office,
so that files are fixed accordingly. This organization
will help keep bills up to date in payment. It also
helps in knowing what important transactions are to
be made for the working week of the family business.
- It is important to purchase a cash box where the
money of the family business is kept safe.
A cash box which separates the coins individually and
stashes up the bills neatly is very good for
cashiering purposes. Whenever possible, or as
the time permits, it is good to count the money
at the end of the day, to learn about the amount
of sales, and to discover if there were errors
in the transactions [giving more or less of
the necessary change]. Whenever there is an
error found, correct the mistake as promptly
as possible, so as to maintain goodwill with
the customers and clients of the family business.
- If feasible, let every member of the family have
their own mobile phone. This way, whenever anyone
needs to contact another because of an important
business matter, he can do so speedily. Use
the mobile phones only as needed. If the landline
can be used, use this instead.
- Hire extra help only when necessary. If the
family business can operate on its own personnel,
let it do so. Only when the family business
builds up volume in its business can additional
personnel be considered. Otherwise, it is good
to always keep business costs to a minimum.
The ideal family business and small business
organization is to keep the extended family members
as the core working personnel and decision-making body.
- To see if the business is progressing financially,
it is good to keep track of the financial status of
the family business. You can download from the Net
a simple and free accounting software.
Wings 2000 is a good
sample.
All the above suggestions can apply to any form of
business. Also, because of the extended family system,
each member of this family organization can have
his or her own business, and share in the pooled
resources and tangible assets of the family organization.
What is also good about this business set-up is that
the family builds up its know how on business processes
and systems. This resource pool of "intellectual
capital" is very important also for small business
enterprises in our contemporary times. By intellectual
capital, we understand to mean: the building of customer
loyalty, the development of computer infrastructures
and systems,
the individual know how of every member of the business(es),
and maintaining good relationships with banks and
financial institutions.
It is to the advantage of the family to have a
family business enterprise that is highly developed
in intellectual capital. Because of our highly
technological society and the information age that
is looming big in our eyes, there is less and less
attention being focused on the tangible assets of
the enterprise, and more and more interest being
riveted on the intangible assets of the small
business enterprise: intellectual capital.
Other related articles:
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Family Business Organization - Small Business Organization
