I am writing to provide some guidance on simple but often overlooked requirements to succeed in business.  I have had a passion for business since I was a child and have owned at least two dozen. Certain things are absolutely essential.  Establish a 'Good Filing System' and a 'Good Accounting System'.

STEP ONE - YOU NEED A FILING SYSTEM!!!

I use old filing cabinets bought at government surplus sales because you can usually by the cabinets from $5 -$30 each.  These are the industrial strength cabinets I am talking about. Not the flimsy ones that you pay $75 - $500 for at Office Depot, Staples, etc.  You'll know you have the industrial strength versions because they are usually too heavy to carry by yourself.  The cheaper ones sold in stores are much lighter because the cost of selling these is much less due to lower shipping weight and costs.

Buy boxes of file folders, and begin creating a file for everyone and everything that has meaning to you. You may not notice it at first, but soon, you will have more time, become better organized, and have what I call 'quiet power' from being totally organized. Make sure you go the extra mile and label your folder tabs correctly. Costco sells a Brother label maker which will help you find your files very quickly. When setup properly, a well organized filing system is a thing of beauty.

You'll be getting a ton of mail and will need a place to store your bills, statements, receipts and other correspondence.  When your bills come in, open then and check for accuracy. Then enter the bills into Quickbooks, Peachtree or some other accounting program of your choice.  You can find some of these programs here on EBay.

These simple steps will help you run your business better and you will become much more profitable. Nearly every transaction I do is profitable for me because I have a system of actually doing business.  I have my true costs actualized, so I know whether I am making money or losing money.  I also use list services for marketing, and tie these with a contact management program to keep track of marketing dollars invested.  We apply anti-fraud and other filters to screen out dead-beats and other blacklisted individuals and companies.

There are people who work for a living, people who invest for a living, people who lie cheat & steal for a living, and people who do nothing bu take it easy. Targeting the right group of propects for your goods and services will ensure that you keep the highest and most efficient use of your investment capital and other resources.

In the next edition Part 2, we'll take a look at pictures of a finished filing system (setup for under $50/bucks) and we'll look at the effects of an accounting system and a contact management program to see how it affects the bottom line.

Til then, take care and good luck!