Before we end our discussion of ISO standards, we want to mention ISO 14001, an emerging international standard for environmental management systems (EMS). The ISO 14000 series is a voluntary set of standards intended to encourage organizations to systematically address the environmental impacts of their activities. The goal is to establish a common approach to environmental management systems that is internationally recognized, leading to improved environmental protection and reducing barriers to international trade.

A more difficult decision than deciding whether to buy a franchise or start a business from scratch is whether to buy a franchise or buy an existing business. The difficulty lies in the fact that both the franchise and the existing business have many similarities, such as:

Your gross profit margin can be calculated with the following formula, using figures taken from your income statement:

A healthy cash flow is an essential part of any successful business. Some business people claim that a healthy cash flow is even more important than your business's ability to deliver its goods or services! That may be placing a bit too much importance on your cash flow, but consider this — if you fail to satisfy a customer and lose that customer's business, you can always work harder to please the next customer. But if you fail to have enough cash to pay your suppliers, creditors, or your employees, you're out of business! No doubt about it, proper management of your cash flow is a very important step in making your business successful.

UID is something you will hear more and more about. The current rule requires all contractors to uniquely identify, through the use of Item Identification Marketing, all items to be delivered to the federal government. The policy was issued on July 29, 2003 and became effective January 1, 2004. UID has been established to identify tangible items, using all practical international standards and commercial item markings.

A database is a great way to organize Web sites with a lot of regularly updated content. Databases power dynamic Web sites, meaning pages are created each time someone requests them. The pages are made by pulling information from the database into a Web page template upon request.

To properly manage your business's cash flow, you must first analyze the components that affect the timing of your cash inflows and cash outflows. A good analysis of these components will point out problem areas that lead to cash flow gaps for your business. Narrowing, or even closing, cash flow gaps is the key to cash flow management.

The biggest asset of an organization is its information, which is why content management software can prove invaluable. But how much content management does your organization really need?

Along with managing your accounts receivable by improving your credit and collection techniques, sound cash flow management demands that you keep a sharp eye on your payables and expenses.

If your business is going to be owned by more than one owner, the simplest business form to create and operate is a general partnership. Forming a partnership entails an agreement between two or more prospective partners. Whomever you choose to be a partner in any given business venture lies solely in what skills, attributes, or responsibilities this person will be contributing. A partner can be an individual, a partnership, a limited liability company, a corporation, or a trust.