If you are just starting up a new business then you have your hands full. In no time at all you will probably find that all of the business obligations are just too much for one person to handle, yet the company isn’t strong enough financially to give you the help you need.
The two major segments of your business is the operational part of it then the administrative. Likely you are controlling the operational side of it during your regular working hours, then trying to deal with the administrative obligations on what is supposed to be your off time.
Many people dream of being their own boss and not having to work by the clock, but they don’t realize that being their own boss creates a whole new set of demands that the standard employee does not have to deal with.
To give you some starting help that could fit into your new but strained business budget there are a few things that you can do.
Automate the business:
When dealing with the administrative sector of your business, the more you can automate it the better. This may create a learning curve for you in the beginning if you are not computer savvy. Even if you are good with the computer, to automate your administration you are going to have to rely on many different types of software, and each of these come with a learning process.
Rely on family:
You may be fortunate and have some teenage children who wouldn’t mind earning a few extra dollars. Kids nowadays know how to operate computers and make the most of them, and easily grasp the learning aspects of software. Although you are still paying your young person it will likely be less than what you would pay for experienced administration.
Student Co-Ops:
Find out if the local post secondary Schools in your area offer co-op programs. If so, then you may be able to take advantage of this for your administrative needs. You are helping out a student in their learning process, and at the same time easing up your administration burden. You may also find that this kind of help is useful in the operational department of your company.
Apprenticeships:
You may be in the type of industry where apprenticeship programs are applicable. You can work with the Government regarding these and they may be the ideal solution for your operational needs.
No matter what steps you are taking in the launching of your new business, be sure that you bring a qualified accountant into the business picture as early as possible. This professional will give you the business and tax guidance that you need now and for the future.
