• Incorporate

    A corporation is a separate legal entity
    that can shield the shareholders...Learn More

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  • Form an LLC

    A Limited Liability Company can be best
    described as a hybrid...Learn More

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  • File a DBA

    A DBA (also known as a "sole proprietorship”
    or "partnership")...Learn More

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Small Business Management

Managing a small business effectively is a sure path to growth and success. In this section we discuss why "small business management" is important.

What is Small Business Management?

Some small business owners don’t think that there is such a thing as "small business management". They believe that if you have 10 or fewer employees than you can manage your business by doing as much as possible yourself, then telling your employees what to do and making sure you catch them before they make a mistake or mess something up.

In fact, Small Business Management is where you’ve organized and systemized your small business to virtually run itself. This applies to the 1-person business as well.

As we discuss in our automate your business section, the best small business management model is the business franchise (like McDonalds or H&R Block). Many small businesses eventually fail but the vast majority of franchises succeed. Why is that? Because a franchise has a "management system", a franchise manual that shows exactly how to run the business step-by-step. Anyone, for the most part, can run a franchise because they’ve systemized and organized the business to virtually run itself with little or no training.

Why Should I Care About Small Business Management?

Because small business management is the surest path to small business success and freedom. You’ll never be able to relax or take a "real vacation" unless you have made your business capable of, at least in the short term, running without you. Take the time now to organize and systemize your business so you won’t have to in the future when the process is more complex.

How do I Learn More?

Simply explore the information and resources we’ve provided on this website. This is why we’ve created the Manage Your Small Business section of MyNewCompany.com™: to help small business owners manage their business more effectively and, more importantly, allow them to have a "real life" and focus working on their business, not in it.