Corporate Officials
1. Introduction – Choosing the right employees is just as important to the success of your business as selecting the right vendors, business strategy, and marketing. By planning well, you can and determine the types of workers you need to successfully produce that will help support your products and service.
2. Corporate Structure for a One-Person Business – In most states, one person can easily incorporate a valid, legal corporation, usually with the enlistment of services and friends. To have a valid corporation, a corporation must have at least two officers; a President and a Secretary.
3. Can I Afford A Board of Directors – As a fledgling corporation, you may worry about the cost of a board of directors. Many smaller businesses operate what is called an “inside” board. An “inside board†usually is made up of friends, acquaintances, and other people within your network that you trust.
4. What Does A Board of Directors Do? – Your board of directors, ideally, will help you establish leadership and direction for your company. While your company management oversees day-to-day operations, your board is there to guide the overall direction of your corporation.
5. How Many Board Members Should I Have? – Your board cannot legally have more members than shareholders.
6. Roles of Each Board Member – A board of directors can be as simple or complicated as you like, as long as the number of directors does not exceed the number of shareholders. Having a competent board that fulfills certain functions is the safest and most productive route for your corporation.
7. Upper Level Management – There are many upper level positions to consider as well.
8. Other Essential Office Personnel – It’s important to have a hiring plan for all positions within your company. Existing management of the company should be responsible for writing the job descriptions for everyone, from the CEO down to administrative staff.
9. Should I Outsource? – If you can’t afford to hire a full-time staff, there’s a good chance you can save money by outsourcing your needs. If you choose to outsource, don’t scrimp on your budget to the point that you choose an unreliable service provide or have stretched your resources so thin that your company’s departments are no longer centralized.
10. What Can I Outsource? – It depends on the amount of support you’re going to need for your business. Will you need somebody available to field calls 24 hours a day? Or do you need somebody after-hours to simply handle information requests and answer basic questions?
11. Choosing The Right Employees – When choosing your employees, you’ll want to look for people who bring new areas of expertise to your company. Take some time and make a list to determine the kind of talent needed to move your company ahead.
12. Constantly Assess Your Needs – Job descriptions and employee duties change rapidly. It’s important to regularly assess duties for each employee to make sure you are at maximum productivity.