Threats of External and Internal Factors
A new business can be in the new human birth. Still very weak and susceptible to small disturbances both from external and internal factors. External factors include competitors in the same field or product. Competitors can spur the adrenaline of new entrepreneurs to be more serious again in the business that they do. Especially, to face competitors who are very strong roots business.
Internal factors include business strategy, human resource management, as well as financial accounting. The business strategy includes various things, such as discounts, buy one free one, free for birthday on certain days, until grand launching. HR management includes soft skill training, upgrading HR. And no less important is the financial accounting. This is often neglected for new entrepreneurs. Looks trivial but fatal. Many new businesses are bankrupt due to not seriously managing financial bookkeeping.
Important Book-Keeping Aspects
Financial bookkeeping covers several aspects. Maybe you will need Inter-gration CPA as accounting and bookkeeping service provider for your convenience. Here are the aspects that need to be done:
- Before starting the business calculate in advance how the cost of initial capital, place, routine expenditure per day, the cost of shrinkage of goods, the initial decoration, to the cost of training employees. The initial calculation is the most important weapon in starting a new business. One wrong step will be very fatal and need a major reshuffle in the future.
- Calculate the unexpected costs and prepare more funds for the calculation. Any newly established business desperately needs more funds or unexpected expenses. This is because of the initial calculation and implementation of the field a lot of differences and tends to require more funding. Try to prepare funds at least 30 percent of the total capital.
- Each expenditure must use an official note/stamp. Nothing should be missed from the books and even small expenses. This is often underestimated by employees and left by the business owner because busy with the marketing strategy. Though this will make the circumstances become fatal because it can create an infinite flow gap in financial bookkeeping.
- Separate personal and business finances. This is often escaped by new business owners. His unprofessional management of the business causes the business owner to placate to use business funds under the pretext of being returned later. But often forget to be returned and cause the bookkeeping to become unstable. Separate also personal accounts and business accounts to be more controlled financial flows.
- Distinguish books for payroll bookkeeping and daily spending bookkeeping as well as bookkeeping of asset depreciation expenses. Distinguishing bookkeeping makes the outflow of funds more controllable and easier to monitor. Better if the note is distinguished by color. Suppose the note is for the red customer, and for the blue internal expenditure.
- Payroll yourself and employees. With this will see how much profit earned. Often new entrepreneurs do not pay themselves and prefer capital playback. This is very wrong because one of the success factors of a new business is profit