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Practical Business Skills

Managing a Business

Once you start your business, it’s time to get to work running day-to-day operations. From sales to customer service, small business owners often get involved in every part of their business.

New or even experienced business owners can benefit from learning more about business management. Whether you want to inspire your staff, promote your business or increase your income, there’s always more to learn. Continuing your education can also help you stay ahead of changes in the law, such as a new regulation that impacts your business’s industry, and learn about better ways to run your business.

Financial Management
Day-to-day financial management can include deciding how to accept payments from customers, knowing where and how to borrow money, timing your revenue (incoming money) and expenses and making sure your business is making money. Learn to manage money.

Recordkeeping
Keeping clear records of income, expenses, employees, tax documents and accounts is more than good business. It will bring you peace of mind, help you monitor progress toward goals and save you time and money. Get started.

Planning for Emergencies
An emergency fund keeps you prepared for unplanned expenses, whether they are the result of a slow sales period or an unplanned event. Having an insurance policy for your business may cover your expenses and lost revenue in the event of a disaster or other mishap, but having cash reserves can help keep your business running. Prepare for the unexpected.

Financial Statements
Your company's financial statements are important records that can give you insight into the financial well-being of your business and help you plan your company’s future. By creating and reviewing financial statements, you’ll be able to quickly determine which parts of your business are making or losing money, if you’re making enough money to cover expenses in the future and whether your business is growing or shrinking. Learn more about financial statements.

Promoting a Business
No matter how in-demand your product may be, you’ll still need to reach new customers and generate interest in your offerings. Luckily, there are many ways you can attract customers without spending a lot of money, such as creating social media profiles and promoting word-of-mouth referrals. Promote your business.

Disclaimer: No Legal Advice Intended
This site provides general information related to creating and running a business. The content of this site is for informational purposes only and not for the purpose of providing legal or tax advice or opinions. The contents of this site, and the viewing of the information on this site, should not be construed as, and should not be relied upon for, legal or tax advice in any particular circumstance or fact situation. No action should be taken in reliance on the information contained on this site, and Visa Inc. disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this site to the fullest extent permitted by law. You should contact an attorney to obtain advice with respect to any particular legal or tax issue or problem, including those relating to your current or potential business.

The contents of this site have been developed for a U.S. audience.