HOW TO RUN YOUR OWN BUSINESS

Presenter: Nguyen Ngoc Loan

Outline

Organization forms

Powerful factors
How to run your own business

Control Proprietorship Absolute control

Obligation Unlimited liability Unlimited liability

Tax Opposed the income tax

Continuity Closed after the owners death

Partnership

Each partner has right to sign business contracts

Profits paid Closed after the dividends are withdrawal or declared and death of one imposed on the partner income tax

Corporation

Stockholders elect the Board of directors. CEO is selected by BOD

Limited liability

Returns are levied on enterprise income tax. Dividends paid for stockholders are opposed on the income tax.

It is a separate legal entity, so its not closed after the death of the owner, CEO or stockholders

How to run your own business

Source : Rich dad, Poor dad- Robert. T. Kiyosaki

Product

Laws Networks Communication Cash flows Mission Mission Mission

How to run your own business

Mission

Spiritual objective

Business objective

How to run your own business

How to run your own business

Owners

Experts

Employees

Investors
How to run your own business

Focus on objectives

Make decisions

Motivate

Develop employees

Supervise
How to run your own business

How to run your own business

Business from scratch

Account/Note receivable

Account/Note payable

Promptly send receipts to customers Ask clients to send draft to your bank account Ask clients to prepay some if they buy on hire-purchase Allow to pay for definite amount by installment Set punishment conditions as a part of installment contracts

How to run your own business

External communication
Sales Marketing Customer service Relationship with investors Social relationships

Internal communication
Share success with team partners Frequent meetings Communicate often with consultants HR development policies

How to run your own business

HR

Sales

Finance

Production

Marketing

R&D
How to run your own business

Business in general Stockholder matters

Client law

Solicitors
Liability and stocks
Contracts

Labor law

Mental property
How to run your own business

Intangible products

Tangible products

How to run your own business

How to run your own business

Knowledge Experience Capital

Impossible?
How to run your own business

How to run your own business