What is an agent except a small business? or a large one for the most successful among you...

Whether you are buying franchises all over the Western or Eastern Seaboards or running your business off your dining room table, you'll appreciate some helpful hints compiled by Sprint Business for small business owners in celebration of National Small Business Week which started the first week of June.

National Small Business Week marks an opportunity for the 23.3 million U.S. small business owners to celebrate their successes of the past year. But statistics show that nearly 1 in 7 of the 800,000 small businesses that are expected to open their doors in 1998 won't be around to celebrate next year's National Small Business Week.

To help entrepreneurs (and that means you, agents) better plan for success, Sprint Business, a leader in boosting small business productivity, suggests 10 business elements every small business owner should have in order to survive and prosper in a competitive marketplace.

``Small business growth has hit an all-time high,'' said Sue Sentell, vice president of business marketing for Sprint Business. ``Based on our work with small businesses, we've noticed new companies that succeed past the critical first year of business have 10 common elements in place.''

The 10 elements every small business should have are:

Business Plan: A business plan acts as the ``foundation'' for a company, outlining specific short- and long-term objectives for the business. Topics discussed in a typical business plan include the business philosophy, market analysis, sales forecast, profit/loss projection, sales strategy and competitive analysis.

Customers: The most important element of any business is its customers, and two keys to growth are new customers, along with increased business from existing customers. To ensure customer satisfaction, businesses should regularly measure the ``pulse'' of their key customers, through evaluation tools such as surveys, comment cards and regular contact.

Employees: Whether a company has one or 100 employees, attracting and keeping top-notch people is one of the most important investments small business owners make. Establishing a reward program that recognizes productive employees fosters a sense of job satisfaction among workers, allowing them to build solid relationships with customers and co-workers.

Financing: Often times, the easiest financing options for entrepreneurs during the start-up period are credit cards, family and friends. Once the cash flow has been established, consider refinancing loans at lower interest rates through institutions, such as venture capitalists, angel investors and local banks' Small Business Administration loans.

Communications: The telephone is the lifeblood of any company. Without it, businesses can't communicate effectively with their customers. When selecting a communications provider for long-distance service, consider the provider's customer service, billing options and productivity-enhancing communications tools, such as paging, wireless phones, videoconferencing and small business-focused calling programs like Sprint's Fridays Free.

Legal Representation: The form of ownership that is selected for a new company will have considerable impact on the regulations it must follow. Whether the company is a sole proprietorship, partnership or corporation, a trusted lawyer can provide the advice and counsel to make this important choice for a small business and its future.

Accountant: The federal tax code for small businesses is one of the most difficult and confusing regulations today. In addition to making sense of these challenging tax laws, a qualified accountant can help a company manage cash flow issues on an ongoing basis.

Technology: One important decision to consider when purchasing technology is whether to lease or buy the equipment. In weighing the options, small business owners should consider the day-to-day uses, upgrade capabilities, available budget and importance of portability, which will help maintain productivity when out of the office.

Office: The location of a business office should be appropriate for the type of business and its customers. For new companies, many times an executive suite -- shared office space and resources among various companies -- is the most efficient and convenient way to operate an office during its start-up period. (Okay, we'll ignore that one.)

Insurance: To protect its assets, small business owners should consider comprehensive insurance options, such as liability, workman's compensation and inventory insurance. In addition, certain types and levels of insurance are typically required before you can lease space or property.

Businesses interested in learning more about Sprint's small business programs, such as the company's Performance Tools, which provide compelling, hands-on information on increasing sales, ensuring customer satisfaction or improving employee performance can call toll-free, 1-888-HELP-4-BIZ, or can access Sprint Business on the web at http://www.sprintbiz.com. The free kits offer practical applications such as software, instructional videotapes, ``how-to'' guides and planning templates -- all easily tailored to fit the specific needs of each business.

Published: June 10, 1998

Use of this article without permission is a violation of federal copyright laws.

Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.