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Operations section

Page history last edited by Kim Brand 11 years, 7 months ago




Operations - Everything else, all of it working together :)

Kim Brand, 317-833-3000

Business Ownership Initiative

May 24, 2011


(Loosely based on the Core Four Business Planning Course Workbook)


Roughly speaking: Income Statement Stuff


  • Production/Manufacturing - Delivery of whatever it is you make or do: product or service - Widgets
  • Employees: paying people to work for you, managing people - this changes everything;
    • Interviewing, Assessment/Testing, On-BoardingEmployment Application, Culture
    • Independent contractors: great deal?, Reporting: 1099
    • Unemployment Insurance (Dept of Workforce Development) & Workman's Compensation Insurance
    • Training, Employee Manuals, Job Descriptions, Organization Charts, Acceptable Use Policies, Confidentiality, Assignments of Intellectual Property
    • Policies: Vacation, Holidays, Uniforms, Personal/Sick Days, Mileage reimbursement, Discipline, Retirement (401K,) Education & Health Benefits, etc.
    • Record Keeping: hours worked, performance reviews, raises
    • Withholding obligations: Income Tax (Municipal, County, State & Federal), FICA (Social Security,) Medicare, FUTA (Federal Unemployment)
    • Regulations: Wage & Hour, (Minimum Wage rules - note: family member exemption, overtime, etc.) EEOC, OSHA, Posters (see links here.)
    • Immigration, Discrimination, ADA (Americans with Disabilities Act,) FMLA (Family and Medical Leave Act), etc.
    • Retention issues, turnover 
  • Supply Chain, Logistics, Vendors, Inventory management
  • Bookkeeping
    • Sales, Billing, Deposits, Point of Sale Software
    • Cost of Goods Sold, Expenses 
    • Budgets, Dashboards: Ratios, Trends, Stupid Stuff
    • Sales/Use & Excise Taxes, Credit Card Fees
    • Withholding (Employer matching, Self Employment Taxes)
    • Distributions, Dividends 
    • Franchise Fees, License Fees 
  • Quality Control, Process Improvement, Customer feedback, Suggestion boxes
  • Banking (checking & savings,) Credit Cards, Financing (your customers)
  • Occupancy Issues, Rent, Facilities, Utilities, Information Technology
  • Advertising, Sales channel challenges
  • Industry affiliations, franchises, continuing education
  • Waste, Fraud, Mistakes, Force Majeure, Acts of God, Theft, Law suits, "When bad things happen to good people..." 


Roughly speaking: Balance Sheet Stuff


  • Form of Business: Proprietorship, Partnership, Corporation (Sub-S and C Corp,) Non-Profit, Limited Liability Company (LLC)
    • Assumed Business Name (for persons and/or general partnership)
    • Individual vs Shared ownership & risk, Creating another 'person' (entity) to do business
    • Dodging FICA (Social Security Tax,) Medicare, etc
    • Self Employment Tax
    • Unemployment Insurance 
  • Corporate Governance & Sustenance: Boards, Advisors, Shareholders, Maintenance, Dividends; Registered Agents
  • Compliance: Licensing, Zoning Requirements, Environmental, Labor Laws, Signs, Parking, Entity Reporting, 
  • Accounting: Bookkeeping Software
    • Accounts Receivable, Accounts Payable
    • Debt Service (again)
    • Inventory (again)
    • Profit or Loss,
    • Audits
    • Policies: Customer Service, A/R, etc.
  • Insurance Protection & Risk Management (Courtesy of Steve Wells, City Securities Corp.)
  • Banking (again:) Loans, Financing (your business,) 
  • Taxes: Income, Property, Gross Income, Use
  • Intellectual Property (Secret Sauce,) Trade Marks, Patents, Copyrights, Assignments
  • Marketing: websites, business cards, branding, blogging, e-mail, Customer Relationship Management (CRM)
  • Professional Advice: Attorneys & Accountants & Management Consultants of various kinds
  • Disaster Recovery, Business Continuity Planning, Procedures, Documentation & Archives (Pictures, Recordings, Videos, Documents)



Big Take-Away Messages:


  • Become a student of your market & industry, love it
  • Work *on* your business, not just *in* it
  • It's a business, not a child - your goal is to sell it
  • Feedback! - Feedback! - Feedback! (Employ a creative process of discovery.)


Miscellaneous Links


Indiana State Small Business Resources

Federal Small Business Resources

Accounting & Bookkeeping Resources

Employer Resources

Center for Entrepreneurship and Innovation, Oxford University, Free iTunes Lecture Series on Building a Business

Michael Gerber's E-Myth

Free Annual Credit Report

Zoho Books inexpensive ($24/mo) on-line accounting system

Microsoft Excel Templates: Statements of all kinds

Excel Balance Sheet Template and PDF

Excel Income Statement Template and PDF

10 Common Mistakes that Startup and Small Companies Make

10 Suggestions for Creating a Successful Startup 

My Five Mistakes seminar delivered to the Madison County Main Street Project


From the developers of the CoreFour Business Planning Course workbook:


Sample Business Plans

Lending Worksheet, includes the 5 Cs of Credit

Lending Case Study, includes a prototype lending request loan officer writeup - for the Case Study on Slide 10 of the Powerpoint Presentation

Sample Cash Disbursement Journal

Operations Powerpoint Presentation

From the Googleplex: Peter Sims, Little Bets: How Breakthrough Ideas Emerge from Small Discoveries


More Operations related topics you might not have thought about.


  • Training, Culture, On-Boarding
  • Productivity
  • Team building, uniforms
  • Security & Safety, Emergency Planning
  • Franchise Mentality: Measure everything, document everything
  • Liability insurance
  • Dashboard - Quality
  • Policies and Procedures, Employee Handbook
  • Banking relationships
  • Hiring - the disaster that bad/suboptimal employees can be 



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