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A.
Introduction - Operations refers to the daily functioning of
your business. The important factors to consider are your staff,
your business location and controlling the costs of your business.
Visit
the links below for more information:
B.
Building Management Team and Staffing - The following links
offer useful tips on how to structure your organization and finding
and building an excellent and well trained staff based on type of
business.
C.
Choosing a Business Location - The location of your business
can play a decisive role in its success or failure. Focus on your
customers and consider these factors to determine your location
needs:
- How
much and what kind of space you will need;
- Is
the location accessible;
- Is
public transportation an option;
- Is
the location safe
Accessibility
to traffic and public transportation, security, market shifts or
demographic shifts. While the decision is greatly influenced by
the type of business - manufacturing, retail or service - it is
always practical to find a knowledgeable agent.
D.
Minimizing Utilities - Utilities can be an important cost factor
in your location decision. The following websites are useful for
understanding utilities issues.
E.
Insurance - Insurance is a means to manage risk. In business,
there are many different kinds of risk. No business can insure against
all risk. Therefore, you must decide what risk you wish to transfer
or eliminate by asking yourself the following questions:
- What
is the size of the expected loss?
- What
is the probability of loss?
- What
other resources do I have available to offset the loss?
Deciding
what types of insurance you are required to carry and what additional
insurance you may desire to carry is a complex and difficult decision.
The following list is a partial list of all the types of insurance
there are available today:
- General
Liability -A comprehensive policy combined with comprehensive
auto liability and a stnadard worker' compensation policy.
- Automobile
Liability - Covers loss or damages involved in the operation
of an automobile in the conduct of your business.
- Worker's
Compensation - Covers injury to employees at work.
- Fire
and General Property - Covers losses from fire, vandalism,
hail, and wind damage.
- Product
Liability - Covers injury to customers arising from the use
of goods purchased through the company.
- Burglary
- Covers loss from forced entry and theft of merchandise and cash.
- Consequential
Loss - Covers the loss of earnings or extra expenses when
business is suspended because of fire or other catastrophe.
- Fidelity
Bonding - Covers theft by an employee.
- Fraud
- Covers counterfeit money, bad checks, and larceny.
- Malpractice
-Covers against claims from clients who suffer damages as a result
of services you perform.
- Errors
and Omission - Covers against claims from customers who suffer
injury or loss because of errors you made or things you should
have done but failed to do.
- Business
Interruption - Covers against the loss of business income
caused by damage to the firm's operating assets.
- Health
- Covers employees medical or dental expenses.
- Disability
- Covers loss of salary as a result of a disability.
- Life
- Covers the life of the owner(s) or key employee(s).
The
best place to begin is by selecting an insurance agent or broker
from:
Consult
with your insurance professional early in the process to make the
proper decision for your business.
F.
Doing Business on the Internet - An Internet business has special
requirements for success. If you are contemplating an e-business
here is a good site for an operations plan:
This
is the end of Section Five: Operations Section.
Please
use the links below to select another Start-Up Guide section.
Section
I. Service/Product Strategy
Section II. Marketing
Section III. Sales
Section IV. Business, Professional and Occupational
License
Section V. Operations
Section VI. Finances, Business Structures
and Taxes
Section VII. Other Resources
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