In 2018, you may resolve to save more, spend less or budget better. Whatever your money goal, the one common key to your success is shopping smart. That means knowing the best time to buy just about anything. To help you out, we’ve created a purchase calendar so you can plan your shopping for the year....
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We present a roundup of the most popular small business and entrepreneurship articles of 2017. Dive into this list of can’t-miss advice on a variety of important topics that will inform and inspire you.
Here at AllBusiness.com, the majority of our advice articles are written by real entrepreneurs and small business owners just like you—people who not only write about running a small business, but people who actually run their own small business. So our writers bring concrete, real-world insight to the advice they offer. Just like you, they’ve struggled with the all-too-common challenges facing all entrepreneurs and small business owners: securing capital, building a brand, marketing effectively and affordably, hiring the best employees, and winning customer loyalty.
As another year comes to a close, we wanted to share a roundup of our most popular small business and entrepreneurship articles of 2017. In the list below you’ll find can’t-miss advice on a variety of important topics including presenting to investors, training and motivating your team, successfully negotiating an office lease, and much more.
If 2018 is the year you plan to finally take the plunge and start that small business you’ve always dreamed of owning—or you want to take your existing small business to the next level—consider these informative articles required reading to inspire and inform you. Then dive into our massive library of free how-to content to learn even more about the specific topics you want to know more about. And be sure to follow AllBusiness on Twitter, Facebook, and LinkedIn for a steady stream of helpful tips all year long.
By YEC. You don’t need a fancy party or getaway to get to know your employees better. Try one of these 11 proven (and low-cost) activities.
By Mike Kappel. As a business owner, you must constantly find new ways to solve problems, increase productivity, and edge out competitors. All it takes is a little creativity and innovation.
By Richard Harroch. The best way to prepare for a job interview is to anticipate—and prepare for—the questions you are most likely to be asked.
By Brian Sutter. Most new startups will fail, but yours doesn’t have to be one of them. If you avoid certain pitfalls, you can increase your odds of success.
By David Hennessy. Running a business can be exhausting and overwhelming at times. Learn tactics to re-energize yourself and reinvigorate your passion for your business.
By Sujan Patel. Your to-don’t list is just as important as your to-do list. Here are eight items that belong on it.
By Gerri Detweiler. Whether you need money advice or help with your digital marketing, these podcasts are a must-listen for anyone who is starting or growing a small business.
By Georgi Todorov. There are countless books and gurus telling you how to manage your time, but which methods really work? These eight tips are tried and tested by some of the nation’s top business execs.
By Brian Sutter. Let’s meet who’s behind the ideas and trends driving small business marketing. Are you following and learning best practices from these experts?
By Brian Sutter. Google Analytics is a powerful marketing tool, yet most small businesses barely scratch the surface of what it’s capable of doing. Here are three ways to get more out of this free tool.
By Richard Harroch. Pitching to investors can be tough, so it’s important to nail your presentation. Learn do’s and don’ts for an investor pitch deck as well as the most important elements it must include.
By YEC. There are many factors that go into developing a great sales team, but the lessons your team keeps top of mind will be traced back to their training. Here is what you need to emphasize right off the bat.
By Brian Sutter. If your small business doesn’t have a website, it may as well not exist. Here’s what your website should offer to provide you and your visitors with the most value.
By YEC. Job candidates need the right soft skills to make sure they will not only fit, but thrive in your corporate culture. Here are some specific skills to look out for.
By Danny Wong. It takes courage to admit you’ve made a mistake in hiring. Here are some tips to keep in mind before you swing the ax.
By Richard Harroch. Office space is one of the largest expenses a growing company incurs. We offer suggestions to help you become more lease-savvy and negotiate a favorable office lease for your startup.
By Brad Shorr. If your business is making too many—or worse, all!—of these common marketing missteps, your campaigns are doomed to fail.
By Megan Totka. If you haven’t added video to your company’s marketing mix, here are reasons why now is the time to push the video play button.
By Brian Sutter. We present five affordable ways to really make a difference in how people experience (and think of) your company.
By FounderSociety. The office of an entrepreneur isn’t complete without the things that help them reach peak productivity—and we’re not talking about a desk and computer.
We hope you enjoyed these informative advice articles and you’re feeling energized and inspired to take your small business to the next level in the New Year. But don’t stop there! We’ve got an enormous library of thousands of how-articles to help you start, grow, and manage a business. Check out the latest expert articles here.
And if you’re a would-be entrepreneur who is finally ready to take the plunge but is still trying to figure out which small business is right for you, a good place to start is The Top 25 Home-Based Business Ideas.
The post The Best Entrepreneurship Advice of the Year appeared first on AllBusiness.com
The post The Best Entrepreneurship Advice of the Year appeared first on AllBusiness.com. Click for more information about David Hennessy.
We present a roundup of the most popular small business and entrepreneurship articles of 2017. Dive into this list of can’t-miss advice on a variety of important topics that will inform and inspire you.
Here at AllBusiness.com, the majority of our advice articles are written by real entrepreneurs and small business owners just like you—people who not only write about running a small business, but people who actually run their own small business. So our writers bring concrete, real-world insight to the advice they offer. Just like you, they’ve struggled with the all-too-common challenges facing all entrepreneurs and small business owners: securing capital, building a brand, marketing effectively and affordably, hiring the best employees, and winning customer loyalty.
As another year comes to a close, we wanted to share a roundup of our most popular small business and entrepreneurship articles of 2017. In the list below you’ll find can’t-miss advice on a variety of important topics including presenting to investors, training and motivating your team, successfully negotiating an office lease, and much more.
If 2018 is the year you plan to finally take the plunge and start that small business you’ve always dreamed of owning—or you want to take your existing small business to the next level—consider these informative articles required reading to inspire and inform you. Then dive into our massive library of free how-to content to learn even more about the specific topics you want to know more about. And be sure to follow AllBusiness on Twitter, Facebook, and LinkedIn for a steady stream of helpful tips all year long.
By YEC. You don’t need a fancy party or getaway to get to know your employees better. Try one of these 11 proven (and low-cost) activities.
By Mike Kappel. As a business owner, you must constantly find new ways to solve problems, increase productivity, and edge out competitors. All it takes is a little creativity and innovation.
By Richard Harroch. The best way to prepare for a job interview is to anticipate—and prepare for—the questions you are most likely to be asked.
By Brian Sutter. Most new startups will fail, but yours doesn’t have to be one of them. If you avoid certain pitfalls, you can increase your odds of success.
By David Hennessy. Running a business can be exhausting and overwhelming at times. Learn tactics to re-energize yourself and reinvigorate your passion for your business.
By Sujan Patel. Your to-don’t list is just as important as your to-do list. Here are eight items that belong on it.
By Gerri Detweiler. Whether you need money advice or help with your digital marketing, these podcasts are a must-listen for anyone who is starting or growing a small business.
By Georgi Todorov. There are countless books and gurus telling you how to manage your time, but which methods really work? These eight tips are tried and tested by some of the nation’s top business execs.
By Brian Sutter. Let’s meet who’s behind the ideas and trends driving small business marketing. Are you following and learning best practices from these experts?
By Brian Sutter. Google Analytics is a powerful marketing tool, yet most small businesses barely scratch the surface of what it’s capable of doing. Here are three ways to get more out of this free tool.
By Richard Harroch. Pitching to investors can be tough, so it’s important to nail your presentation. Learn do’s and don’ts for an investor pitch deck as well as the most important elements it must include.
By YEC. There are many factors that go into developing a great sales team, but the lessons your team keeps top of mind will be traced back to their training. Here is what you need to emphasize right off the bat.
By Brian Sutter. If your small business doesn’t have a website, it may as well not exist. Here’s what your website should offer to provide you and your visitors with the most value.
By YEC. Job candidates need the right soft skills to make sure they will not only fit, but thrive in your corporate culture. Here are some specific skills to look out for.
By Danny Wong. It takes courage to admit you’ve made a mistake in hiring. Here are some tips to keep in mind before you swing the ax.
By Richard Harroch. Office space is one of the largest expenses a growing company incurs. We offer suggestions to help you become more lease-savvy and negotiate a favorable office lease for your startup.
By Brad Shorr. If your business is making too many—or worse, all!—of these common marketing missteps, your campaigns are doomed to fail.
By Megan Totka. If you haven’t added video to your company’s marketing mix, here are reasons why now is the time to push the video play button.
By Brian Sutter. We present five affordable ways to really make a difference in how people experience (and think of) your company.
By FounderSociety. The office of an entrepreneur isn’t complete without the things that help them reach peak productivity—and we’re not talking about a desk and computer.
We hope you enjoyed these informative advice articles and you’re feeling energized and inspired to take your small business to the next level in the New Year. But don’t stop there! We’ve got an enormous library of thousands of how-articles to help you start, grow, and manage a business. Check out the latest expert articles here.
And if you’re a would-be entrepreneur who is finally ready to take the plunge but is still trying to figure out which small business is right for you, a good place to start is The Top 25 Home-Based Business Ideas.
The post The Best Entrepreneurship Advice of the Year appeared first on AllBusiness.com
The post The Best Entrepreneurship Advice of the Year appeared first on AllBusiness.com. Click for more information about David Hennessy.
Sometimes, as small business owners, we have too many choices. We know we’re supposed to invest in marketing and advertising, choose the best venues and platforms, measure our ROI, and then constantly test against “the winner.”
But, in reality, a lot of us are too busy running our businesses on a day-to-day basis to make the time to do all that. Plus, it takes time and costs money to constantly change your website to do all that testing.
What if I told you about a simpler way? One that’s fast and inexpensive as well.
Last summer I attended the Unbounce Conference in Vancouver where I learned more in two days than I have in a long time.
First, some background. Eight years ago, Rick Perreault was looking for a solution—he wanted to build a webpage for advertising without hiring developers to create it. There were A/B testing companies—but they only provided enterprise-level solutions. “There was nothing in the SMB space,” Perreault explains. “I just needed drag-and-drop functionality, something as simple as MailChimp is for email.”
Perreault, a musician turned marketer, started talking to people he knew about the situation and found he wasn’t alone in his frustration. Still he wanted to “validate the market and make sure it wasn’t just me.” So, he created a survey, posted it to Facebook, and got an initial reaction from 42 people who clicked on his Facebook ad and said, “I need this.”
In June 2009, armed with that knowledge and some market research, Perreault put together a team, and less than two months later he and his five cofounders incorporated the company. Today Unbounce has three global offices (Vancouver, Montreal, and Berlin) and nearly 200 employees.
RELATED: 11 Best Practices for Optimizing Sign-Up and Landing Pages
The Unbounce landing page and conversion marketing platform enables businesses to build landing pages where they can test offers, pricing, design, content, and more without hiring a team of developers, designers, or marketers. Perreault says, “It’s hard to do a good A/B test. And most small businesses don’t have the resources to do that. It’s all about providing the customers with the insights and tools they need to grow their businesses.”
Landing pages are not meant to be a section of your website; they are stand-alone pages that address specific products or services. Unbounce cofounder Oli Gardner explains that landing pages help consumers focus on your message, since they can’t always navigate back to the home page.
When it launched, Perreault thought millennials would be a good market to target, and needed inexpensive ways to reach them. “We actually had a blog before we had a product, and started producing guides to attract attention,” Perreault recalls. The first product, a guide to online marketing (which is still available), included a printable poster that business owners could use to check off the steps as they proceeded through the process. To save money they used social platforms, particularly Twitter, to get the word out. And, Perreault says, “millennials absorbed it. [We learned] content marketing isn’t only inexpensive, it lasts so much longer.”
Perhaps due to his background as a musician, Perreault is a people person—and a natural collaborator. Of the six partners that founded the company, four are still involved today. When he was recruiting the startup team, Perreault looked for people with different skills that would complement one another. “We all have our strengths,” he says, “but the company is not run by the founders.” Instead, there’s a 15-person senior leadership team, which includes three of the founders.
One of Unbounce’s biggest challenges is competing for talent. They’re located in a section of Vancouver that’s also home to Microsoft, Hootsuite, Amazon, and other big tech companies. So, in order to get employees to join Unbounce, Perreault and his partners created a company built around six core values:
These are not just words; Unbounce lives these values. For instance, Perreault says he believes in empowering his employees. “We give them objectives and let them decide how they’re going to get there. I can’t hold people accountable if I tell them how to do their jobs.”
Transparency is important at Unbounce. “We don’t hide anything from employees,” Perreault explains, “but we won’t share salaries. We hold monthly town halls where we tell our employees everything.”
But perhaps generosity is the chief reason for the company’s success. Perreault explains, “At our core, we’re generous. We look for ways to improve the lives of our employees.” The company offers paid parental leave for the first month at full salary and partners with care providers that offer employees access to emergency child care 15 days a month. Perreault says every year they try to do something else for the staff. “We invest in employee satisfaction.”
That generosity extends to its customers as well. When the company decided to hold an annual conference, they asked themselves, “How can we make a conference awesome, and make it as frugal as possible so people can come?”
Customers also get access to a lot of support, including nearly 24/7 phone support, live chat, email, and access to experts and the Unbounce community, who like to help one another.
Today the company is moving beyond landing pages and expanding its offerings. Perreault says, “We’re asking, ‘What pains can we solve for our current users?’ We want to help them drive traffic, help them convert better. How can we make it simpler for them? We’re looking at machine learning and using bots to do it for them.”
Perreault is a big believer in entrepreneurship. “It’s easier to start today,” he says, “it’s all in cloud, which means lower overhead or working from home. There are,” he adds, “so many free tools or low-cost subscriptions.”
The future is bright for small businesses in Perreault’s view. “The new generation of business will disrupt a lot of existing businesses. The new gig economy is easier to be part of.” But, he warns business owners who are lagging behind to get onboard: “Brick-and-mortars need to get online; they’ll be obsolete if they don’t.”
RELATED: Perfect Landing Pages: The Art of Creating High-Conversion Lead Generation Forms
The post Entrepreneur Success Story: Helping Small Businesses Build Better Website Landing Pages appeared first on AllBusiness.com
The post Entrepreneur Success Story: Helping Small Businesses Build Better Website Landing Pages appeared first on AllBusiness.com. Click for more information about Rieva Lesonsky.
How did small business owners market their businesses in 2017—and what do they plan to do differently in the coming year? Infusionsoft’s annual Small Business Marketing Trends Report has some answers, including both good and bad news for small business owners.
Small business owners’ top marketing goals are getting new customers (31%) and retaining existing customers (25%). To achieve these goals, 38% will budget more in 2018 for social media management, 30% will budget more for digital advertising and search engine optimization, and 24% will budget more for website analytics.
But while entrepreneurs are “embracing digital marketing to some extent,” the report says, there’s still a long way to go if small business owners want to stay competitive. For example, more than one-fourth of small business owners surveyed (28%) don’t plan to increase their digital marketing budgets at all in 2018. What’s worse, 15% don’t plan to use any type of digital marketing whatsoever.
Even when small business owners do implement digital marketing strategies, they don’t always know if they’re getting results. Almost half (46%) of entrepreneurs in the survey say they aren’t sure if their marketing strategies are effective—and 17% admit they know that their marketing isn’t working.
The biggest challenge small business owners face when it comes to digital marketing is simply finding enough time in their days to handle it. Given the constantly changing nature of digital marketing, this isn’t surprising. It’s hard enough for marketing specialists to keep pace with the latest industry trends—much less a busy small business owner.
What specific digital marketing tactics are small business owners using?
Converting leads into sales is the second-biggest challenge small business owners in the survey face. Perhaps that’s because so few of them use CRM and marketing automation tools, the survey suggests.
RELATED: The No. 1 Marketing Tool Every Business Needs
Heading into 2018, a whopping 74.4% of small business owners surveyed say they plan to use social media, and almost 40% plan to spend more on it than they did in 2017. Overall, social media is the top customer-acquisition channel for small businesses in the survey. Facebook is the most popular social channel, used by 75.1%; close behind are Instagram (37.6%) and Twitter (35.1%). In addition, 22.8% of small business owners surveyed use LinkedIn and 21.4% use YouTube.
What should small businesses do in 2018 to stay competitive?
The overall takeaway from the report: Digital marketing will become more and more important in the coming years. Do what you must to stay on top of online marketing trends, or risk being left behind.
RELATED: 10 of the Best Small Business Marketing Studies Published This Year
The post Is Your Business Keeping Up With Digital Marketing Trends? appeared first on AllBusiness.com
The post Is Your Business Keeping Up With Digital Marketing Trends? appeared first on AllBusiness.com. Click for more information about Rieva Lesonsky.
Sponsored by HRdirect Smart Apps
By Jaime Lizotte
If your business employs workers who are not U.S. citizens, it’s important to make sure you are in compliance with federal law by maintaining accurate employment records.
Completing the Form I-9 properly is the most important aspect of immigration compliance. When done correctly, your completed I-9 forms are your best proof of compliance—and your key defense against government fines and lawsuits.
However, even if all of your employees are legally authorized to work in this country, you can still face stiff penalties for maintaining inaccurate or incomplete I-9 forms.
A self-audit can go a long way toward minimizing fines and risks of liability for immigration law violations. The main objectives of an I-9 self-audit are to
First, check that you have a Form I-9 for every employee currently hired after November 6, 1986. Then, review each I-9 to make sure all information is complete (including basic information, such as your business name and address).
Then, check each form to make sure you have reviewed and recorded the proper combination of List A, B, and C documents (one item from List A, or a combination of one item from List B and one item from List C). Make sure you have not recorded (or filed copies of) more, or different, documents than required.
And lastly, if you keep photocopies of identification documents presented by employees, be consistent and make sure you have copies for all employees. Check expiration dates of documents listed in Section 2 (and work authorization status in Section 1) and make sure reverifications are tracked and completed on time. You do not need to reverify documents for U.S. citizens or permanent residents. You only have to recheck expired documents for foreign workers with temporary residency.
Discard forms you are no longer required to keep under the three-year/one-year retention rule. You must keep a Form I-9 for each employee either for three years after the employee’s first day of work or for one year after the employee’s last day of work, whichever is later.
You should, therefore, have an I-9 form on file for every current employee hired after November 6, 1986, as well as for employees who recently left the company. Here’s an example:
An employee was hired on 4/1/16 and terminated on 8/1/17.
Step 1: Identify the hire date and add three years.
4/1/16 + 3 years = 4/1/19
Step 2: Identify the termination date and add 1 year.
8/1/17 + 1 year = 8/1/18
Step 3: Compare the two dates.
Compare 4/1/19 and 8/1/18
Result: The later date is 4/1/19. Therefore, in this case, you must retain the Form I-9
until April 1, 2019.
When conducting an I-9 self-audit, you may find that:
You are missing a Form I-9 for an employee. In this case, ask the employee to complete Section 1 of the Form I-9 immediately and present documentation as required in Section 2. The new form should be dated when completed—never backdated.
An employee has been working without documentation authorization. This could be because an I-9 form was not properly completed in the first place, or because the employee’s work authorization has expired. If this is the case, notify the employee (in private) of the discrepancy.
You should provide the employee a copy of the Form I-9 and any accompanying paperwork. Then ask the employee to provide correct or updated documentation. In either case, if an employee cannot present proper documentation, you should terminate the employee immediately. If you don’t, you risk penalties for “knowingly” continuing to employ an unauthorized worker. Be sure to apply this strict termination policy consistently to avoid potential claims of discrimination.
You may not correct errors or omissions in Section 1 of the form. If you discover a problem in Section 1, ask the employee to make the correction. Employers may only make changes in Section 2 or Section 3 of the Form I-9.
Employees needing assistance to correct or enter information in Section 1 can have a preparer and/or translator assist them.
In either case, the individual making the correction should
Consider using an online tool to verify the identity and employment eligibility of new hires. An electronic HR solution can speed up the time required to complete new employee forms—and help you comply with federal filing requirements.
The post The Importance of Conducting a Form I-9 Audit—Even If Your Business Does Not Employ Non-U.S. Workers appeared first on AllBusiness.com
The post The Importance of Conducting a Form I-9 Audit—Even If Your Business Does Not Employ Non-U.S. Workers appeared first on AllBusiness.com. Click for more information about Guest Post.
Make money online!
How many times have you seen those words on an email subject line or emblazoned across a piece of clickbait?
I don’t think I need to tell Allbusiness.com readers that the information behind virtually every “make money online” come-on line is disappointing. However, one time-honored way to make money is to buy a business, and with so much commerce now happening over the internet, it’s no surprise that buying an e-commerce business is a legitimate way to make money.
You can browse Shopify-based e-commerce sites that are currently on the market to get an idea of the kinds of sites available. You’ll find price tags that start in the low hundreds of dollars and shoot up to the many thousands of dollars. Of course, a new site with little sales history will be inexpensive while a site with good traffic and sales will command a much higher price.
But in any case, you should consider these points when you think buying an existing site might be the best way for you to start making money online:
You know how to build and maintain traffic. If you buy a new store with low traffic, you’ll need to build it up; if you buy a store with good traffic, you’ll need to know how to maintain it. If terms like SEO, organic search engine marketing (SEM), paid SEM, and retargeting are foreign to you, you’re probably not ready to buy an off-the-shelf e-commerce site. The next point relates strongly to this truth.
You know the origins of existing traffic. You might find a site that is making some sales and think that you can push it to the next level, but as soon as you buy it, traffic falls off. If the previous owner was driving traffic from his or her personal social media accounts, that traffic is likely to disappear when the seller exits the picture.
RELATED: 10 Best Strategies to Convince Customers to Purchase From Your E-Commerce Website
You have good ideas about “what’s next.” You’re entering the world of entrepreneurship when you buy an e-commerce site, and for entrepreneurs, growth (or second acts) is critical for ongoing success. Sooner or later—and for most people it’s sooner—you’ll hit a wall in sales. You’ll need to expand your product line or find new market segments. Don’t invest in an e-commerce site if you don’t know how you’re going to grow. Standing still in business is the same thing as going backwards!
As a prerequisite to this point, you need to have a good understanding of the market you’re serving and the products you’re selling. Ideally, you would be passionate about the commercial sector that you’re entering, otherwise you’re likely to burn out or get bored quickly.
You understand what it takes to maintain an e-commerce website and its ongoing marketing. I used Shopify earlier as an example because it has a great reputation for being one of the most user-friendly DIY e-commerce platforms. But even in that case, you need to have a good understanding of how websites function, where design functions are located, how to work with templates, and how various services work in conjunction with an e-commerce site, such as payment services.
You know how to expand online. Closely related to the growth topic and knowing how to maintain an e-commerce site is developing other online channels for your products. Not only can you sell via the site you have purchased, you can sell on Amazon, eBay, and other online platforms. However, to do this well you’ll need to have a grasp of various third-party apps that make this kind of integration easier. Also related to this is the next important point:
You have a working knowledge of drop shipping. I think it’s safe to say that almost every e-commerce site that is being sold is hooked up with some kind of drop shipping provider. Sometimes manufacturers will drop ship, other times you’ll have to maintain some inventory at a drop shipper.
You don’t have to have a full command of every point I’ve mentioned here to start out, but you need to appreciate their importance and work toward their mastery if you want the e-commerce site you buy to grow and have a lasting impact on your financial success.
The great thing is that even today you can get started with a relatively small investment as long as you’re prepared to grow both your new e-commerce site and your online marketing, managing, and sales skills.
RELATED: Should You Start Up or Buy Your New Business: 12 Pros and Cons
The post Making Money Online: When Is It Smart to Buy an Existing E-Commerce Site? appeared first on AllBusiness.com
The post Making Money Online: When Is It Smart to Buy an Existing E-Commerce Site? appeared first on AllBusiness.com. Click for more information about Megan Totka.
By John Stuart
Since its launch date in 2005, Etsy has become a well-known, respected, and hugely popular platform for creatives to share their handmade or vintage items with the world. Accommodating products that range from clothing, accessories, and jewelry to craft supplies and tools, Etsy enables freelance crafters to pursue their dreams and also make a living. If you want to start an Etsy shop that stands out from the crowd follow these tips:
The difference between a mere business idea and a successful business idea is thorough research to determine if starting a business would be profitable. Research similar vendors to see what types of products they are selling, and add a unique twist to your own products. Think about your design signature and what you can do to make your items stand out from a sea of products.
Also consider, how do you plan to draw in customers and make them buy your products? Will you offer superior quality materials, unique color combinations, or custom tailoring? Take the time to answer these questions and put together a business plan to guide you and enable you to set realistic objectives.
The name of your Etsy shop is important, but it’s not everything. The quality of your products weighs much more than the name of the brand. We’re not saying you shouldn’t put any thought into a name, but don’t waste days or weeks worrying about finding the perfect one. You can easily change your shop name one time if you change your mind further down the line. Also, try not to choose restrictive names such as “Knitted Slippers,” since you might branch out and start selling a wider array of products.
RELATED: 12 Tips for Naming Your Startup Business
Starting a business on Etsy means your home will very likely become your working space (if it isn’t already). It’s important to separate your living space from your work space, so set up a room that’s dedicated solely to your business. You should also create a comfortable and productive environment to do your work.
RELATED: 101 Secrets to Running a Successful Home-Based Business
Offer your future clients variety. If you’re just starting your Etsy shop, you might be tempted to only offer a few products and wait to see what happens. In truth, having only a few listings will bring you little to no exposure. Your e-shop (even if it’s online) is still a shop. You should be offering a wide range of products that differ in colors, textures, and purposes.
For instance, if you choose to sell hand embroidered clothing pieces, it’s easy to branch out with smaller items to give your shop variety. Embroidered bookmarks and clothing patches are a couple of ideas you can put into practice. Offering a miscellaneous assortment will bring you more clients and gain you more exposure.
Pricing your products correctly is essential and can play a major role in the success of your business. You should, of course, take into consideration the cost of your materials, as well as the time and effort that goes into making the items. Also, check out your competition to see how much they are selling their items. See if you can beat their prices by offering a cheaper alternative that doesn’t sacrifice quality and still makes a profit.
RELATED: Set Prices for Your Products in 7 Simple Steps
A picture really is worth a thousand words. Photographs and descriptions play a significant role in how successful you sell on Etsy. When you’re creating a listing for an item, include as many photos as possible that shows the product from different angles. Include close-ups and even style the product if you can. For instance, take shots of you wearing pieces of clothing or jewelry. Take photos in natural light and never upload blurry, dark, or noisy pictures.
Product descriptions should be accurate and detailed. Offer in-depth information about fabrics, materials, patterns, textures, dimensions, and maintenance or washing instructions. Make it easy for buyers to read about the product by using bullet point lists. If you have another product that complements the listed item, include a link to it. All of these efforts combined will yield a professional looking listing which will help customers know exactly what they are getting and convince them to click the “buy” button without hesitation.
Etsy allows you to add a “Request a custom order” button. This can bring in dozens of orders as custom-made items appeal to buyers. Allowing customers to choose colors, materials, or design of your product is an excellent technique to boost sales and accumulate loyal customers.
Be sure to always deliver impeccable customer service. Be polite, answer inquiries fast, and offer suggestions when the customer is uncertain about what they want. Gradually, your customer base will grow—and so will your profits.
You may not need to do this in the first months after launching your Etsy shop, but it’s essential to think about networking with other Etsy sellers if you want to take your brand to the next level. The first step is to join a team on Etsy. Working from home as a freelancer means you don’t have any colleagues to talk to during lunch break. By joining a team, you can reach out to other Etsy creatives if you have questions or if you’re feeling overwhelmed. You also can benefit from the experience of more seasoned sellers who might share valuable tips and tricks.
Successful Etsy sellers also rely on Pinterest, Facebook, and Instagram to share their products and reach a wider audience. Pinterest is easy to use and can yield amazing results; Facebook and Instagram can help you keep your customers up-to-date with your latest creations, seasonal sales, and discounts. You can go beyond this and reach out to bloggers or YouTubers who might be interested in featuring your products in their blogs or videos. This can bring you huge exposure and help you increase your sales.
RELATED: Go Beyond Amazon: Small Businesses Today Must Take a Multi-Site Approach to E-Commerce
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One of the most critical decisions you will make as a business owner is choosing the business entity type for your company. Sole proprietor or partnership? Limited Liability Company (LLC), or corporation?
Decisions, decisions!
For many of the entrepreneurs that I work with, incorporating offers a variety of advantages legally and financially over operating as a sole proprietorship, partnership, or LLC (Limited Liability Company). You should talk with your attorney and accountant or tax advisor before you select a business structure because it’s important that you fully understand the pros, cons, and your compliance responsibilities. To get you up to speed for that conversation, let’s explore some of the main advantages of incorporating your business.
Unlike a sole proprietorship or partnership, a corporation is legally separate from its owners. Because the liabilities and debts of your corporation are the responsibilities of your company rather than you as an individual, your personal assets are protected. So, if you can’t pay off a loan or someone sues your business, under most circumstances, your personal assets (home, retirement account, car, etc.) can’t be taken as restitution.
When you incorporate, your business name automatically becomes protected within the state where you’ve registered your company. No other corporation or LLC (in that state) that sells similar products or services will be allowed to use that name. For more extensive name protection, consider filing for a trademark. That will protect your name throughout the entire U.S.
Before you select your business name, I recommend that you do a corporate name search and trademark search to see if it’s available. That way you won’t spend time and money trying to register a name that is already taken by another company.
RELATED: 5 Steps for Naming Your New Business
Corporations are often eligible for tax deductions that sole proprietorships, partnerships, and LLCs are not. By default, a corporation pays the applicable corporate tax rate on its taxable income, and its owners pay income tax on their personal earnings from the business. This double taxation can benefit owners who, if the business were a sole proprietorship or partnership, would find themselves paying an exorbitant amount in self-employment taxes.
In a corporation, only the owners’ salaries are subject to self-employment taxes. As a sole prop or partnership, all taxable income from the business would flow through to the owner’s individual tax return and be subject to self-employment taxes.
Something many corporations are looking forward to for tax year 2018 is a reduction in the federal corporate income tax rate. The recent tax bill that was signed into law lowers the rate from 35% to 21%.
Corporations may sell stock (ownership shares) of their companies to raise money. This can provide much-needed capital for growing your business. If your company is a C corporation, your business can sell shares to an unlimited number of shareholders; if you elect to have S corporation tax treatment for your corporation, you may have up to 100 shareholders. In either case, you have a funding advantage that LLCs, sole proprietorships, and partnerships do not.
There’s something about having “, Inc.” following your company name that commands respect. With a formally registered business, you may find that prospective customers, vendors, and project partners have more confidence and trust in your company.
As a separate legal entity, a corporation has perpetual life. That means that its existence doesn’t end when the owner dies or leaves the company. You can sell, bequeath, or otherwise give ownership shares of the business to someone else; your corporation can continue indefinitely as long as ownership shares are held. Only until you file articles of dissolution to close the business will your corporation cease to exist.
If after you’ve had discussions with your attorney and accountant you decide to move forward with incorporating your business, you will need to file Articles of Incorporation with the state in which you want to register your corporation. There are other essential tasks to complete, as well, so that your business meets all legal and financial requirements. As you work on filing your business registration paperwork, consider seeking the help of an online document filing service to ensure your documents are accurate and on time.
RELATED: 7 Legal Tips for Starting a Business
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Make money online!
How many times have you seen those words on an email subject line or emblazoned across a piece of clickbait?
I don’t think I need to tell Allbusiness.com readers that the information behind virtually every “make money online” come-on line is disappointing. However, one time-honored way to make money is to buy a business, and with so much commerce now happening over the internet, it’s no surprise that buying an e-commerce business is a legitimate way to make money.
You can browse Shopify-based e-commerce sites that are currently on the market to get an idea of the kinds of sites available. You’ll find price tags that start in the low hundreds of dollars and shoot up to the many thousands of dollars. Of course, a new site with little sales history will be inexpensive while a site with good traffic and sales will command a much higher price.
But in any case, you should consider these points when you think buying an existing site might be the best way for you to start making money online:
You know how to build and maintain traffic. If you buy a new store with low traffic, you’ll need to build it up; if you buy a store with good traffic, you’ll need to know how to maintain it. If terms like SEO, organic search engine marketing (SEM), paid SEM, and retargeting are foreign to you, you’re probably not ready to buy an off-the-shelf e-commerce site. The next point relates strongly to this truth.
You know the origins of existing traffic. You might find a site that is making some sales and think that you can push it to the next level, but as soon as you buy it, traffic falls off. If the previous owner was driving traffic from his or her personal social media accounts, that traffic is likely to disappear when the seller exits the picture.
RELATED: 10 Best Strategies to Convince Customers to Purchase From Your E-Commerce Website
You have good ideas about “what’s next.” You’re entering the world of entrepreneurship when you buy an e-commerce site, and for entrepreneurs, growth (or second acts) is critical for ongoing success. Sooner or later—and for most people it’s sooner—you’ll hit a wall in sales. You’ll need to expand your product line or find new market segments. Don’t invest in an e-commerce site if you don’t know how you’re going to grow. Standing still in business is the same thing as going backwards!
As a prerequisite to this point, you need to have a good understanding of the market you’re serving and the products you’re selling. Ideally, you would be passionate about the commercial sector that you’re entering, otherwise you’re likely to burn out or get bored quickly.
You understand what it takes to maintain an e-commerce website and its ongoing marketing. I used Shopify earlier as an example because it has a great reputation for being one of the most user-friendly DIY e-commerce platforms. But even in that case, you need to have a good understanding of how websites function, where design functions are located, how to work with templates, and how various services work in conjunction with an e-commerce site, such as payment services.
You know how to expand online. Closely related to the growth topic and knowing how to maintain an e-commerce site is developing other online channels for your products. Not only can you sell via the site you have purchased, you can sell on Amazon, eBay, and other online platforms. However, to do this well you’ll need to have a grasp of various third-party apps that make this kind of integration easier. Also related to this is the next important point:
You have a working knowledge of drop shipping. I think it’s safe to say that almost every e-commerce site that is being sold is hooked up with some kind of drop shipping provider. Sometimes manufacturers will drop ship, other times you’ll have to maintain some inventory at a drop shipper.
You don’t have to have a full command of every point I’ve mentioned here to start out, but you need to appreciate their importance and work toward their mastery if you want the e-commerce site you buy to grow and have a lasting impact on your financial success.
The great thing is that even today you can get started with a relatively small investment as long as you’re prepared to grow both your new e-commerce site and your online marketing, managing, and sales skills.
RELATED: Should You Start Up or Buy Your New Business: 12 Pros and Cons
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By John Stuart
Since its launch date in 2005, Etsy has become a well-known, respected, and hugely popular platform for creatives to share their handmade or vintage items with the world. Accommodating products that range from clothing, accessories, and jewelry to craft supplies and tools, Etsy enables freelance crafters to pursue their dreams and also make a living. If you want to start an Etsy shop that stands out from the crowd follow these tips:
The difference between a mere business idea and a successful business idea is thorough research to determine if starting a business would be profitable. Research similar vendors to see what types of products they are selling, and add a unique twist to your own products. Think about your design signature and what you can do to make your items stand out from a sea of products.
Also consider, how do you plan to draw in customers and make them buy your products? Will you offer superior quality materials, unique color combinations, or custom tailoring? Take the time to answer these questions and put together a business plan to guide you and enable you to set realistic objectives.
The name of your Etsy shop is important, but it’s not everything. The quality of your products weighs much more than the name of the brand. We’re not saying you shouldn’t put any thought into a name, but don’t waste days or weeks worrying about finding the perfect one. You can easily change your shop name one time if you change your mind further down the line. Also, try not to choose restrictive names such as “Knitted Slippers,” since you might branch out and start selling a wider array of products.
RELATED: 12 Tips for Naming Your Startup Business
Starting a business on Etsy means your home will very likely become your working space (if it isn’t already). It’s important to separate your living space from your work space, so set up a room that’s dedicated solely to your business. You should also create a comfortable and productive environment to do your work.
RELATED: 101 Secrets to Running a Successful Home-Based Business
Offer your future clients variety. If you’re just starting your Etsy shop, you might be tempted to only offer a few products and wait to see what happens. In truth, having only a few listings will bring you little to no exposure. Your e-shop (even if it’s online) is still a shop. You should be offering a wide range of products that differ in colors, textures, and purposes.
For instance, if you choose to sell hand embroidered clothing pieces, it’s easy to branch out with smaller items to give your shop variety. Embroidered bookmarks and clothing patches are a couple of ideas you can put into practice. Offering a miscellaneous assortment will bring you more clients and gain you more exposure.
Pricing your products correctly is essential and can play a major role in the success of your business. You should, of course, take into consideration the cost of your materials, as well as the time and effort that goes into making the items. Also, check out your competition to see how much they are selling their items. See if you can beat their prices by offering a cheaper alternative that doesn’t sacrifice quality and still makes a profit.
RELATED: Set Prices for Your Products in 7 Simple Steps
A picture really is worth a thousand words. Photographs and descriptions play a significant role in how successful you sell on Etsy. When you’re creating a listing for an item, include as many photos as possible that shows the product from different angles. Include close-ups and even style the product if you can. For instance, take shots of you wearing pieces of clothing or jewelry. Take photos in natural light and never upload blurry, dark, or noisy pictures.
Product descriptions should be accurate and detailed. Offer in-depth information about fabrics, materials, patterns, textures, dimensions, and maintenance or washing instructions. Make it easy for buyers to read about the product by using bullet point lists. If you have another product that complements the listed item, include a link to it. All of these efforts combined will yield a professional looking listing which will help customers know exactly what they are getting and convince them to click the “buy” button without hesitation.
Etsy allows you to add a “Request a custom order” button. This can bring in dozens of orders as custom-made items appeal to buyers. Allowing customers to choose colors, materials, or design of your product is an excellent technique to boost sales and accumulate loyal customers.
Be sure to always deliver impeccable customer service. Be polite, answer inquiries fast, and offer suggestions when the customer is uncertain about what they want. Gradually, your customer base will grow—and so will your profits.
You may not need to do this in the first months after launching your Etsy shop, but it’s essential to think about networking with other Etsy sellers if you want to take your brand to the next level. The first step is to join a team on Etsy. Working from home as a freelancer means you don’t have any colleagues to talk to during lunch break. By joining a team, you can reach out to other Etsy creatives if you have questions or if you’re feeling overwhelmed. You also can benefit from the experience of more seasoned sellers who might share valuable tips and tricks.
Successful Etsy sellers also rely on Pinterest, Facebook, and Instagram to share their products and reach a wider audience. Pinterest is easy to use and can yield amazing results; Facebook and Instagram can help you keep your customers up-to-date with your latest creations, seasonal sales, and discounts. You can go beyond this and reach out to bloggers or YouTubers who might be interested in featuring your products in their blogs or videos. This can bring you huge exposure and help you increase your sales.
RELATED: Go Beyond Amazon: Small Businesses Today Must Take a Multi-Site Approach to E-Commerce
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Sponsored by HRdirect Smart Apps
By Jaime Lizotte
If your business employs workers who are not U.S. citizens, it’s important to make sure you are in compliance with federal law by maintaining accurate employment records.
Completing the Form I-9 properly is the most important aspect of immigration compliance. When done correctly, your completed I-9 forms are your best proof of compliance—and your key defense against government fines and lawsuits.
However, even if all of your employees are legally authorized to work in this country, you can still face stiff penalties for maintaining inaccurate or incomplete I-9 forms.
A self-audit can go a long way toward minimizing fines and risks of liability for immigration law violations. The main objectives of an I-9 self-audit are to
First, check that you have a Form I-9 for every employee currently hired after November 6, 1986. Then, review each I-9 to make sure all information is complete (including basic information, such as your business name and address).
Then, check each form to make sure you have reviewed and recorded the proper combination of List A, B, and C documents (one item from List A, or a combination of one item from List B and one item from List C). Make sure you have not recorded (or filed copies of) more, or different, documents than required.
And lastly, if you keep photocopies of identification documents presented by employees, be consistent and make sure you have copies for all employees. Check expiration dates of documents listed in Section 2 (and work authorization status in Section 1) and make sure reverifications are tracked and completed on time. You do not need to reverify documents for U.S. citizens or permanent residents. You only have to recheck expired documents for foreign workers with temporary residency.
Discard forms you are no longer required to keep under the three-year/one-year retention rule. You must keep a Form I-9 for each employee either for three years after the employee’s first day of work or for one year after the employee’s last day of work, whichever is later.
You should, therefore, have an I-9 form on file for every current employee hired after November 6, 1986, as well as for employees who recently left the company. Here’s an example:
An employee was hired on 4/1/16 and terminated on 8/1/17.
Step 1: Identify the hire date and add three years.
4/1/16 + 3 years = 4/1/19
Step 2: Identify the termination date and add 1 year.
8/1/17 + 1 year = 8/1/18
Step 3: Compare the two dates.
Compare 4/1/19 and 8/1/18
Result: The later date is 4/1/19. Therefore, in this case, you must retain the Form I-9
until April 1, 2019.
When conducting an I-9 self-audit, you may find that:
You are missing a Form I-9 for an employee. In this case, ask the employee to complete Section 1 of the Form I-9 immediately and present documentation as required in Section 2. The new form should be dated when completed—never backdated.
An employee has been working without documentation authorization. This could be because an I-9 form was not properly completed in the first place, or because the employee’s work authorization has expired. If this is the case, notify the employee (in private) of the discrepancy.
You should provide the employee a copy of the Form I-9 and any accompanying paperwork. Then ask the employee to provide correct or updated documentation. In either case, if an employee cannot present proper documentation, you should terminate the employee immediately. If you don’t, you risk penalties for “knowingly” continuing to employ an unauthorized worker. Be sure to apply this strict termination policy consistently to avoid potential claims of discrimination.
You may not correct errors or omissions in Section 1 of the form. If you discover a problem in Section 1, ask the employee to make the correction. Employers may only make changes in Section 2 or Section 3 of the Form I-9.
Employees needing assistance to correct or enter information in Section 1 can have a preparer and/or translator assist them.
In either case, the individual making the correction should
Consider using an online tool to verify the identity and employment eligibility of new hires. An electronic HR solution can speed up the time required to complete new employee forms—and help you comply with federal filing requirements.
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If you want to start the new year feeling strong, fit and energized, then exercise. If you want to feel that way and save money, then exercise outside. Or, you could pack into gyms and fitness classes, which can be as expensive as they are crowded this time of year. A single SoulCycle class can...
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Do you think your social media presence or your word-of-mouth is so strong that you don’t need a website for your business? Maybe you have amazing online reviews or a stellar reputation in the community. But that doesn’t mean your business can survive without a website of its own.
Unfortunately, a surprising number of small business owners seem to view a business website as an “extra” rather than what they really are: an essential foundation for their marketing efforts.
In a survey last year, more business owners used social media to market their businesses than had a business website (63% vs. 56%). Why is this a mistake? Well, nearly two-thirds (63%) of consumers look at business websites when they’re searching for local businesses, according to a study by the Local Search Association. What’s more, the LSA reports, business websites are the number-one place shoppers go when they’re ready to buy something.
The world of online marketing is changing as smartphones and voice search technology such as Alexa and Google Home transform the way people search for businesses. It’s true, your online reviews and local directory listings are increasingly important to helping customers find your local business. But in the end, all roads lead to your business website (or should lead there).
RELATED: How to Create a Website for Any Type of Business
Why is a business website so important? It’s all about control. As a small business owner, you can’t control the algorithms that social media sites use to determine what posts people see. You can’t control whether a crazy customer writes a negative review that stirs up controversy and attracts unwanted attention. You can’t control whether a newspaper subscriber actually reads the ad you placed.
On your business website, however, you’re in complete control of the way you present your business, the image you create, and the information you share. And if you use social media marketing, search engine optimization, content marketing, local SEO, and online advertising wisely, you’ll have a great deal of control over whether people searching for what you sell end up on your website.
Here are some keys to making the most of your business website:
In order for your marketing efforts to be most effective, you’ve got to combine multiple marketing channels. Each marketing method has its own strengths, and only by tapping into all of them will you discover their full potential. But with so many elements to keep on top of, it’s easy to get caught up in tunnel vision. Never lose sight of the fact that your ultimate goal is getting people to your website so you can convert them into customers.
RELATED: How to Get a Website Up and Running for $100
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So you want to do more with your family to start off 2018 — a noble intention with terrible timing. Short, frigid days lend themselves more to Netflix binges than family adventures, but you have options. Lots, actually. The first step to embracing these cold-weather activities is finding your motivation. Kara Wellman, creator of the...
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Your 2018 resolution to get healthy doesn’t need to compete with your resolution to spend less. Below are five affordable, healthy foods recommended by Keri Gans, nutritionist and author of “The Small Change Diet.” Oatmeal: This inexpensive whole grain is “jam-packed with nutrients,” Gans says. And it’s cheap (and healthy) when you buy a large...
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My week on Twitter : 1 Like, 7 New Followers, 1 Tweet. See yours with http://ift.tt/2fvSvTg; http://pic.twitter.com/a1jlYSmBbD
Customer service desks will be packed on the day after Christmas with consumers requesting refunds and exchanges, but store aisles will be packed with something else — deals. Here’s why you should venture out on Dec. 26, and how to emerge with a bargain instead of a headache. Seasonal staples will be on sale After-Christmas...
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Sponsored by HRdirect Smart Apps
By Jaime Lizotte
Labor laws change all the time. Just when you think you understand the latest regulations, the federal government introduces something new. And don’t forget state and local changes. They also come you fast and furious, so it’s critical to stay on top of the latest rules to ensure your business is compliant.
One area you should keep a close eye on is the job application process. Across the nation, laws restricting employers from asking job candidates about criminal histories are on the rise. As of December 2017, more than 150 cities and counties and 29 states have adopted laws that limit what you can ask job applicants.
Known as “ban-the-box” legislation, the new rules are designed to give individuals with a criminal history a fair chance at employment. Removing the question “Have you ever been convicted of a crime?” from job applications encourages employers to consider a candidate’s qualifications first, rather than rejecting someone outright because of a criminal past.
If you’re in a major urban area, chances are high that ban-the-box laws apply to your business. In states or cities that have passed this legislation, you can’t inquire about an applicant’s criminal record until the job interview—or, in some cases, after a position has been offered to the applicant. You may need to delay background checks until then as well.
These states have ban-the-box laws that apply only to public employers:
And these states restrict both public and private employers from asking about criminal records on job applications:
Even if your state isn’t on the list, you shouldn’t assume these laws don’t apply to you. Several cities and counties have taken the lead in creating ban-the-box laws that extend to private employers.
Ban-the-box legislation isn’t intended to force you to hire someone with a criminal background, but rather to create a fairer decision-making process. It shifts the criminal history inquiry from the initial application stage until later in the hiring process so applicants with past criminal records are given a fair shot at getting a job.
The latest labor law trend gaining popularity is a ban on salary history questions for applications. This has already taken effect in four states and several cities.
The law is designed to prevent employers from using past compensation as a basis for current salary and benefits negotiations with job applicants. The ultimate goal of banning past salary inquiries on applications is to foster equal pay between men and women.
With the right tools, you can be certain you’re satisfying the latest ban-the-box laws when hiring. The Job Applications Smart App automatically complies with your state’s requirements so you’re always up-to-date, and it helps protect you from avoidable and costly legal mistakes.
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