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Fundamentals of Running a Successful Small Business

1.

I keep organized financial records and can find important documents easily.

 

Almost Always

 

Sometimes

 

Rarely

2.

I develop and review my cash flow statement to analyze whether my business is over or under budget.

 

Almost Always

 

Sometimes

 

Rarely

3.

I am aware of the key business financial statements and know how to use them.

 

Almost Always

 

Sometimes

 

Rarely

4.

I regularly conduct market research to better understand the needs and desires of my customers.

 

Almost Always

 

Sometimes

 

Rarely

5.

I keep track of how my clients find out about my business.

 

Almost Always

 

Sometimes

 

Rarely

 

 



    

Score:

0

Suggestions for Improving Your Knowledge

12-15 points- Congratulations, you are practicing principals to running a successful small business.  Review the Fundamentals section to refresh your memory, paying particular attention to the "Points to Remember" section.  Keep up the good work!

8-12 points- You are doing a fair job of maintaining your business.  Read the Fundamentals section and complete the exercises.  If you want additional information, click on some of the links in the resource section or contact a training provider. Click here for a list of training providers in your area. Your business will improve and grow as you adopt some of the suggestions in this section of the website.

7 or fewer points- The Fundamentals section will help you improve your score.  Read the section carefully.  Complete the exercises and click on some of the links listed in the resource section.  Consider attending a training session to further develop your skills in business management.  We strongly encourage you to contact a local organization for further training and specialized assistance with your business management skills.  Click here for a list of training providers in your area. Don't despair!  You can take action to manage and maintain your business more effectively.

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