Finance
The 10 commandments of a successful SME

Undertaking can be the dream of your life; however, there are many things to consider when starting a business. From legal situations and permits, to the people who will be working with you. We have made a list of aspects that you can take into account to help you grow your business.
- Detect the need of the market:
- carry out a study in the locality, observe the competition and evaluate the profitability of the market, are actions that can determine the viability of a business and facilitate decision making.
- Prepare a business plan:
- developing this tool will allow you to be clear about the business model you want to undertake and thus set the strategies for the proper functioning of your SME. Since it indicates the objectives in the short, medium and long term and the capital that is needed, which must be updated according to the demands of the market.
- Look for financing:
- the benefits and facilities offered by the various private credit institutions and government programs change depending on the business objective. Always check interest rates and total annual cost before choosing financing.
- Hire the necessary personnel:
- having trained personnel is very important, therefore it is essential to define the profile of the work team and the fees they will earn. It is essential to prepare a budget so that from the beginning it is not difficult to meet payments.
- Believe in your idea:
- although it may be a phrase that you hear repeatedly, it is true. Believing in yourself and in what you do can be the beginning of great success in the business world. Keep going. Although the road may seem difficult, success may be just around the corner.
- Keep learning:
- continuing with training and studies is a good option for you and for the people who work with you. It will be important for the growth and development of the business, especially if you are in a sector that needs continuous updating, for example, technology or medicine.
- Seek high standards:
- quality should be one of the intrinsic characteristics of your product or service. Analyze how you can improve or what elements you would include as added value.
- Make yourself known:
- advertising is important, since people must know about your product to buy it. Internet currently makes things easier, so you can run campaigns on social networks, advertise on Web pages, among many other things. On the other hand, resorting to conventional advertising will never hurt.
- Act in a timely manner:
- in this section I would apply the saying “do not leave until tomorrow what you can do today”. Try to make opportune movements that favor both your customers and your suppliers, to obtain benefits in your business.
- Create good relationships:
- To start creating a healthy network, it will be important that you have cordial relations with the employees of the company, the possible competition, the suppliers, among many other people. You will see that this will benefit you and help you sell more.
Finance
Control the finances of your SME

If you were encouraged to start a business and your business begins to consolidate, it is most likely that you are also learning to manage finances. This task may seem difficult; however, you can make use of some tools
Next, we give you suggestions to facilitate the management of this area of your company.
- Separate your accounts. Do not manage your money and that of your business in the same account. The ideal is to separate it, and if possible you assign yourself a salary. This will allow you to have greater control, you will know how much you spend and how much enters your company and you will be able to better distribute resources.
- Be disciplined. When allocating your salary and the items of money that your business needs in a budget, do it consistently. Remember to stick to these amounts for better money management, especially if your business is short on time or just beginning to stabilize.
- Hire an accountant. It will be essential that you have a person who provides you with professional services in this area, so you will be up to date with your tax obligations. If you cannot have him full time in the company, meet with him at least every month so that everything is under control.
- Use your cards. If you are going to make payments, use the company’s debit or credit card. It will help you keep track of the transactions made and is better than cash, since if you pay in bills and coins you may forget what you spent the money on. For greater control, use your online banking, and review your account statement (in most financial institutions it is updated immediately after an operation is made).
- Use an accounting program. Software that helps you keep accounts can also be useful within your company. You will have to learn to handle it or hire someone to take care of this part. In this case, it is convenient that you continue to be the only one authorized to carry out transactions and keep track of bill payment so that you are aware of what is happening in your business.
- Take control of papers. Keep important documents such as insurance policies, contracts, payment receipts and tax documents. It is important that you can have them on hand and keep track of everything you buy, spend, and insure.
Remember that having your business finances in order is key for it to grow and develop properly. We hope these recommendations help you on the path of financial consolidation of your company.
Finance
How does the electronic signature help optimize business finances?

Electronic signatures have become widely accepted as a modern, secure and legal method of document authentication.
With the increasing number of brick-and-mortar stores offering their services and products online,
it's no surprise that digital signatures have grown in popularity.
As a result, financial institutions, banks and the finance departments of companies that use
this technology can optimize their processes thanks to the advantages it offers for their operations, these include:
improve security
Paper documents can be easily modified and are forgeable. Even if documents are stored
inside filing cabinets,
there is a chance that they may be lost, stolen or misplaced.
Electronic signatures are more secure in ensuring the authenticity and integrity of the signature.
In this sense, tools such as DocuSign eSignature use encryption verification technology called public key
infrastructure (PKI) technology to confirm the authenticity of a person's electronic signatures.
It is the safest standard to identify a person.
Guaranteeing greater security is essential to optimize financial services, since these operations are very
sensitive to information.
lots of savings
The main benefit of electronic signatures in the financial industry is the reduction of the paper-based process.
By using this solution and digital files, business finance can help speed up the processing and management of
critical tasks.
Faster processing speeds could also mean substantial savings on paperwork and other expenses.
In addition, electronic signature platforms help in the storage and retrieval of documents. In addition,
the reduction in physical work also allows companies to focus on essential issues such
as the most critical business activities and investigate new business possibilities.
Customer trust
Every day, organizations and individuals adopt electronic signatures. In addition, the public is becoming
increasingly aware of its advantages and as a result, they are using electronic contracts to complete most deals.
By offering security and guarantee in the contract life cycle, potential clients prefer to give consent in
this way when signing digital agreements.
Not only in finance places, but also, customers choose to use digital signatures in shopping malls,
banks, and other places using tablets, mobile phones, and signature pads.
Electronic contracts help build customer trust and credibility in the company.
Minimize transaction time
Electronic signatures allow organizations to process more transactions in less time, increasing efficiency.
This solution will simplify administrative processes and reduce the time required to process transactions
to hours instead of days.
24 hours is the average time to finalize agreements;
only 5 minutes are needed to locate digitized documents.
Save time on each transaction and eliminate document filing and tracking errors.
In parallel, automation reduces human errors associated with physical documents.
Conclusion
Financial management is a relevant topic in the business world due to the importance of finance for the business.
The reason for setting up a business is to make a profit and also run for many years. However,
it is essential that the processes in this area are constantly optimized, especially with the
adoption of technologies that make them more efficient.
Without a doubt, electronic signatures are an ideal alternative to improve, secure and provide faster and
legal operations to the financial processes of companies.
Do you want to know more about how electronic signatures improve financial processes?
If so, we invite you to read about Bandai's success story with DocuSign.
Finance
The finances of your business

Before deciding to embark on the adventure of starting your own business, you should consider some important aspects,
such as providing yourself with a salary and obtaining the resources for the proper functioning of the business
such as renting premises, hiring staff, buying inventories, etc.
The business plan and its financing
It is necessary to carry out a plan that details all the expenses necessary for the operation and
initiation of the business. Here we show you the main general aspects to take into account:
Determine the list of fixed and variable expenses that will be incurred each month.
Request permits and procedures before the corresponding authorities.
Define the number of employees to be hired and the basic benefits required by law. In this case,
it is necessary to consult the laws that apply.
Calculate the income that is estimated to receive monthly
Choose how the business administration will be carried out, that is,
if daily operations will be recorded in a computer program specially developed for the business or
use another offered by the market.
Define the cost of developing the identity and image of the company:
logo, motto, philosophy, objectives, values and others.
Define the cost of developing a corporate website, in order to have a presence on the web.
Project financial statements. What capital is needed to start it.
Do you have it or do you have to request financing or wait to raise the capital?
Once the necessary amount of money is defined, a strategy must be designed to obtain the capital either through
friends and family, own savings or banks or a combination of all options.
Now, the ideal is to have capital to undertake, but if not, there are options offered by financial institutions to solve
the project. Likewise, the business plan helps to get investors who want to join the venture.
Bank financing
Do not forget that financial instruments are a great ally on this path that you are about to start.
Ideally, once you have your business plan assembled, you approach financial institutions for advice to help you
boost your business.
One thing you should do is separate your personal bank account from your company's.
You can also request a credit card and a debit card for the exclusive use of your business. This will help you keep
better control of all expenses and separate your personal finances from those of your business. Similarly, it is
possible that financial institutions have tools at your fingertips that have special benefits for new entrepreneurs.
Financial institutions can be an option to acquire a loan to help you start your business.
Remember
When starting a business we must be aware of the risks that we could face.
That is why it is important to have a business plan prepared, which helps us mitigate risks.
Planning prevents us from suffering losses due to hasty decisions or the minimal use of available resources.
Being an entrepreneur is very stimulating because we ourselves are the creators of a new universe
that grows with our creativity and our passion. We are free to innovate and propose.
Above all, a world of possibilities opens up for us, where the limit is our own capacity
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