Your idea for expanding your business or starting a new one is ready. You have carefully created a roadmap for success with every issue planned and accounted for in a solid business model. The next step is to get the funding needed that will put your plan into action.

When you make the business decision to offer credit to customers, you should also develop a collections policy. Doing so will help you manage the inherent risks associated with extending payment terms to customers.

Eliminating commissions from the highly competitive world of sales and placing the sales force on a straight salary is shows a lack of respect, according to most people who work in the field. However, top executives at many companies are reconsidering the old way of paying their sales staff.

As hard as you have worked to build your business up and make it profitable, there will come a time when you need to sell it. This can be a difficult thing to do when the business has been such an integral part of your life for many years.