NebulaBiz Cash Advance Melbourne Fl: January 2018

Wednesday, January 31, 2018

5 Business Resolutions Every Entrepreneur Should Make This Year

Many people are in the habit of making personal resolutions to kick off the new year: start a diet, exercise more regularly, finally reorganize that walk-in closet. The same concept should hold true for business owners. If you haven’t made a resolution for your business yet, it’s not too late. Now is the perfect time to reevaluate where you ended last year and what you can do to improve in the coming months.

These resolutions for your business can and should go beyond your bottom line. Thinking outside the box about what you can do to strengthen your business is important, and now’s the time to put those plans into action.

If it’s not working, leave it behind

Your first resolution should be to get rid of things that aren’t working for you. Whether it’s a system or process, a marketing strategy, a key vendor or client, or an employee, you have to be able to let go and try a new approach. As a business owner, it can be easy to get attached to the way things are—you’ve likely played a key role in making each decision that’s gotten your company to its current point, so it can feel like a knock on your pride and leadership abilities when something isn’t working.

In reality, the strongest move a leader can make is to admit something they’ve decided on in the past is no longer working, and take swift, decisive action to change things.

Delegate effectively

This is another one that can be hard for business owners who are deeply invested in their company’s success. You may have the urge to opine on every decision, from big-picture strategy to the kind of coffee you’re ordering for the break room. But as NPR notes, micromanaging can have a damaging effect on your employees’ happiness and leaves you with less time to focus on the important strategic decisions that should be coming across the owner’s desk.

Learning to delegate effectively can be challenging, but it’s essential to employee productivity and the success of your business. If you feel that you may have trouble letting go, check out these tips in “How to Stop Micromanaging” from the Harvard Business Review.

Embrace digital

In today’s tech-saturated world, it is critical to have a digital presence for your business. If you’ve set up a website that you update once a year and have a Twitter feed that lies dormant, 2018 is the year for you to step up your game by undergoing a digital transformation.

Start small: Establish a Facebook page and claim your business on Yelp so that your customers can leave reviews. According to the Pew Research Center, more than half of online shoppers take reviews into consideration before making a purchase. If you’ve already mastered the digital basics, consider branching out into other forms of social media, or purchasing digital advertising.

Other Articles From AllBusiness.com:

Join a networking group

As an entrepreneur, you probably sometimes feel like you’re going it alone. Making decisions about how to build and grow your business is stressful, and having the support of a network of people who are at the same stage of growth or who have taken their businesses even further can be helpful and inspiring.

Consider joining a networking group for like-minded business owners. Sites like Meetup make it easy for you to find groups of fellow entrepreneurs in your area. You can also join groups on LinkedIn that align with your skill sets, business interests, or educational background. Sharing ideas digitally sometimes leads to connections in the real world.

Give back to your community

As the owner of an SMB, one of your biggest challenges is attracting customers who are already loyal to the big guys. Consumers who gravitate towards smaller businesses are often drawn in by a business’s story and personal connection. Giving back to your community not only makes you feel great, it also allows you to establish a one-on-one relationship with those in your neighborhood who can become your future customers.

The success of efforts like Small Business Saturday are indicative of consumers’ interest in supporting “the little guy.” If you’re the owner of the ice cream store who donates a sundae party to the school fundraiser, or the garden shop proprietor who plants trees and perennials in the city’s traffic circle, you’re more likely to be top of mind for customers who want to feel good about where they’re spending their hard-earned dollars.

The start of a new year is the perfect time to build on your established strengths and to get rid of practices that aren’t working. An honest evaluation of your past year’s performance will allow you to see where you can grow, and a willingness to fearlessly embrace change will allow you to create new opportunities and reach new heights.

The post 5 Business Resolutions Every Entrepreneur Should Make This Year appeared first on AllBusiness.com

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Tuesday, January 30, 2018

5 Business Resolutions Every Entrepreneur Should Make This Year

If it’s not working, leave it behind

In reality, the strongest move a leader can make is to admit something they’ve decided on in the past is no longer working, and take swift, decisive action to change things.

Delegate effectively

Embrace digital

Other Articles From AllBusiness.com:

Join a networking group

Give back to your community

The post 5 Business Resolutions Every Entrepreneur Should Make This Year appeared first on AllBusiness.com

The post 5 Business Resolutions Every Entrepreneur Should Make This Year appeared first on AllBusiness.com. Click for more information about Meredith Wood.

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Traditional Business Plan vs. Lean Startup Plan: Which Is Best When Starting Your New Business?

Did you know that business plans come in not one, but two categories? More often than not, when we think of a business plan we think of a traditional format. This means a hefty document, about 30 to 40 pages in length, written three to five years out that outlines every detail that can contribute to the success of the business.

A lean startup plan, on the other hand, requires less time and detail to put together, but must be able to communicate the future of the business in an articulate manner.

Which type of business plan should you draft for your startup? If you’re not sure whether one format is preferable over the other, read on.

Traditional business plan

A traditional plan skewers towards being more lengthy and detailed than those in lean startup format; it’s essentially a blueprint that gives you a glimpse into the future of your startup.

Inside every traditional business plan, you’ll need to cover the following areas:

Executive summary—Here you should be able to explain, in no more than two pages, who you and your business are, what your company does, what industry it’s in, where you’re located (or will be located), when you will begin conducting business if you haven’t started already, how the business will make money, and why consumers will want the goods and/or services offered by the business.

Business description, concept, and strategy—This section contains more information about your products and/or services, including what they do, what makes them unique and distinctive, where the idea for your business came from, where you’re at in the development stages, and overall goals and strategies for the business, along with its projected timeline.

Industry analysis—Who is your competition? Here, you will analyze competitors of your brand and touch on their offerings, company background, and why consumers will choose your services over theirs.

Market analysis—Now that you understand your competition, who is your target audience? This section defines your target market, their needs, and how your business will be able to attract, capture, and retain this audience.

Organization and management—If you have management or staff employed, this section allows you to share their biographies, backgrounds, and core responsibilities.

Financial projections—This gives readers a glimpse into the cash flow of your business. It’s a table-heavy area that includes projected profit and loss, a 12-month income statement, expenses budget, sales forecast, and a break-even analysis with the revenue needed for your initial investment. And speaking of investment…

Financing request—If you are seeking funding from investors, this is the section to outline the amount of money requested, how it will be spent, and the manner in which it is spent.

Appendix—Your appendix should include industry studies, letters of incorporation, trademark registrations, and partnership agreements, just to name a few documents.

Other Articles From AllBusiness.com:

Lean startup plan

If you need to write a business plan quickly or if your business is fairly simple and straightforward to explain, your format of choice is likely a lean startup plan. This is less of an intensive blueprint and more of a quick summary—sometimes no longer than one page!

No matter how short and sweet your structure is, a lean startup plan should contain the following elements:

Value proposition—The value that your small business brings to its respective market, summed up in a clear statement.

Key partnerships, resources, and activities—More information about the partners working alongside your business, strategies for gaining a competitive advantage, and resources, such as intellectual property or capital, used to create value for your target audience.

Customer segments, channels, and relationships. Who is your audience? Where can you reach them? How will you build a lasting relationship together? Define your target market, methods for being able to talk to them, and strategies for establishing the customer experience.

Revenue streams—Explain and list out the revenue streams your business has for making money. Make sure to include a quick section that defines your cost structure strategy too.

Which format does your business need?

The good news about writing a business plan? There’s room for editing. If you’re not satisfied with the format or need to make changes, you can always revise the document. There’s also the option to switch formats—if you start off with a lean plan, but want to shift to a more traditional plan, and vice versa.

Regardless of the format, the important thing is to be concise and critical about your business from the beginning. Your business plan works to align your team towards a common vision for the company and evaluate its feasibility as objectively and critically as possible. Having this kind of document contributes to the success of the business and positions you as a confident CEO.

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Partners in Life and in Business: How Married Business Owners Make It Work

By Malini Bhatia

You do everything with your partner: You work, play, and support your family together. Since your partner is such an integral part of your life, it seems only natural that you’d also want to share your business time. But will the extra burden of running or starting a business together bond you or tear you apart?

Statistics suggest that entrepreneurial couples have a higher rate of divorce than other married people; however, there are steps couples can take to avoid this trouble and keep their marriage healthy.

Common reasons why married entrepreneurs experience trouble

Emotional stress—Emotional stress is the anchor that can pull down happy relationships and turn them into stressful nightmares. If you and your partner are worrying about the future of your business while also dealing with personal stress and anxiety, who will you have left to lean on?

Financial burdens—Finances are a huge part of starting a business. Oftentimes, entrepreneurs will put their last pennies into their businesses. Funding a new business out-of-pocket, on top of paying for home expenses, can cause an enormous stress on married couples, especially if there are also children. Added to these burdens is the fact that income and financial stability is rare in the life of an entrepreneur.

Too much time apart or the wrong kind of time together—Quality time spent focusing on things other than business is extremely crucial for a happy relationship. Relaxing, vacationing, laughing, being physically intimate, and having fun with one another, however, can all fall to the wayside when you are running a business together.

Fear of additional responsibility—As an entrepreneur, you likely have the “go, go, go!” attitude that makes so many self-starters successful. However, the thought of adding additional responsibilities such as pregnancy, children, pets, or even taking time off from work may make you think twice about family life. If one spouse feels like the other is putting business responsibilities above growing a family together or starts to feel unimportant, a marriage becomes jeopardized.

Other Articles From AllBusiness.com:

How married entrepreneurs can strengthen their marriage

If you are truly committed to a happily ever after with your entrepreneurial partner and mate, here are some steps you can take to keep your marriage healthy:

Have patience—Business success is not a guarantee, nor will it happen overnight. As an entrepreneurial couple you will need to exercise patience: patience for long nights and extra hours, patience regarding personal and financial sacrifices, and patience that while your relationship might change by working together, you will both find a new rhythm you’ll feel comfortable with.

Make time—There is a saying that goes: “You don’t have the time, you make the time.” You may not feel like you have a spare minute in the day to even stop for coffee, but if you treasure your marriage, you will make sure that you carve out time for one another each day, business free. This could mean one date night per week going out and doing something fun together, or spending an hour before bed talking or relaxing together. Even 30 minutes spent talking after work can do wonders for maintaining your relationship.

Do marriage check-ins—Marriage check-ins are sessions where once a week or once a month you check in with one another as a couple—one partner talks while the other listens. During this session you should talk about what’s going great and what is lacking in your relationship. These marriage meetings are designed to open up the lines of communication, prevent hard feelings from festering, foster respect, and resolve conflicts.

Set realistic goals—As with any marriage, it’s important to set realistic goals for one another. For example, if one or both of you are workaholics, then trying to spend less time at work isn’t likely to change overnight. Taking baby steps to spend time together or to show appreciation for your mate will go a long way in making your marriage last.

The life of an entrepreneurial couple isn’t always easy—and there are hurdles to overcome together. But, by showing respect and setting time aside for your work and your personal relationship, you’re sure to be on the right path to a strong relationship.

RELATIONSHIP: 10 Tips on Starting a Home-Based Business With Your Spouse

About the Author

Post by: Malini Bhatia

Malini Bhatia is the founder of Marriage.com, a website dedicated to providing value in every marriage. Marriage.com provides resources, information and a community that supports healthy, happy marriages. Malini has global experience in international management and communications, and lives in Los Angeles with her husband of 11 years and two daughters.

Company: Marriage.com
Website: www.marriage.com
Connect with me on Google+.

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5 Ways to Use LinkedIn as a Powerful Marketing Tool for Your Business

By Aaron Agius

When you’re marketing a business, one of the most important decisions you’ll make is determining the best channels for communicating your message. Given that 80% of B2B social media leads come from LinkedIn, you absolutely must be using this platform if you’re selling to other businesses.

Most people use LinkedIn to network, stay in touch with people in their niche, and find new jobs, but LinkedIn is actually an incredibly powerful marketing tool. Here are some of my favorite tactics you can use on LinkedIn to market your business and generate new B2B leads:

Educate instead of sell

I know this sounds harsh, but people don’t care about your products or services. What they care about is finding solutions to their pain points.

However, most businesses use LinkedIn to post about how wonderful their products are, hoping that the right person will read it and convert for a sale. You can do a lot better than this approach by taking the focus away from yourself and onto your customers.

Instead of selling at every opportunity, provide value by contributing to discussions, publishing educational content, and using your expertise to help people solve their problems. And I know, you’d much rather reap the SEO benefits of publishing an article on your website compared to LinkedIn Pulse, but if your buyers are on LinkedIn, then it makes sense to use the platform for content marketing.

Likewise, aim to provide value in the groups that are relevant to your industry. Helping someone to solve their problems isn’t a guarantee that you’ll get them as a customer, but they’re not the only ones reading the discussions. Every time you help someone on LinkedIn, you’re promoting your brand to a far wider group of people.

Utilize tagging

Tagging is a great way to draw additional attention to a post. While you should never use tagging excessively, you should approach it strategically.

First, when publishing content on LinkedIn, type “@” and add connections that you want to tag in the post. When you’ve tagged someone, they will receive an email notification; your other connections will see it in their news feed.

Also, consider the influential LinkedIn users in your network, then research quotes from them that you can incorporate into your articles. When they receive a notification, they’ll be delighted to find that someone has mentioned them, as this helps to validate their position as a thought leader.

I know that whenever someone says something favorable about me in a post, I always try and share it to give it as much exposure as possible—not only as a sign of thanks to the author, but because it boosts my reputation too.

Consider sponsored updates

With sponsored updates, you have the ability to define the audience who will see your posts, so if you want to get your content in front of specific influencers, the cost of a sponsored update is more than worth it. LinkedIn’s Campaign Manager provides comprehensive metrics, so you can thoroughly examine whether you’re getting a good bang for your buck when you run a sponsored post.

While it’s not financially viable to sponsor everything, I recommend paying money for your best posts—the ones that deliver the most value to your target audience—to give them a boost.

Other Articles From AllBusiness.com:

Incorporate visuals on your profile

I can’t stress this enough, but people adore visual content. Instead of creating a bland, text-only profile for your brand, use images, infographics, and videos to create an awesome visual display and impress your connections. SlideShare integrates seamlessly with LinkedIn, so if you have a colorful presentation that would provide valuable information to your LinkedIn audience, don’t be afraid to feature it on your profile.

People want to do business with other people, not faceless corporations. Displaying images and videos of the people who work tirelessly behind the scenes is an amazing trust builder and will help humanize your brand. You may also want to feature video testimonials from your best clients on your LinkedIn profile to build even more trust.

Get your employees to help out

Don’t leave the task of posting content solely to your marketing department; get everyone onboard with posting high quality content on LinkedIn. When content comes from a brand’s employees as well as from the official brand profile, this not only humanizes the brand, but it conveys a united purpose. If employees love the company so much that they’re prepared to post content on their personal accounts, this makes the company look incredibly attractive to potential business partners and leads.

Not everyone at your organization, though, will be a great writer. While everyone has their own unique expertise and insights, I recommend you have an editor available to ensure the content is consistent.

Summary

It’s important to remember that LinkedIn is a social network for business professionals. People aren’t logging in for casual entertainment and fun conversation—they’re there to conduct business. Aim to deliver value in a professional manner and you will be rewarded with new leads.

As a side note, remember to include links to your LinkedIn profile on your website and embed a LinkedIn sharing button beneath any blog posts, so people can immediately access your brand’s page.

About the Author

Post by: Aaron Agius

Aaron Agius is CEO of worldwide digital agency Louder Online and is, according to Forbes, among the world’s leading digital marketers. Working with clients such as Salesforce, Coca-Cola, IBM, Intel, and scores of stellar brands, Aaron is a Growth Marketer—a fusion between search, content, social, and PR.

Company: Louder Online
Website: www.louder.online.com
Connect with me on Facebook, Twitter, LinkedIn, and Google+.

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Traditional Business Plan vs. Lean Startup Plan: Which Is Best When Starting Your New Business?

A lean startup plan, on the other hand, requires less time and detail to put together, but must be able to communicate the future of the business in an articulate manner.

Which type of business plan should you draft for your startup? If you’re not sure whether one format is preferable over the other, read on.

Traditional business plan

A traditional plan skewers towards being more lengthy and detailed than those in lean startup format; it’s essentially a blueprint that gives you a glimpse into the future of your startup.

Inside every traditional business plan, you’ll need to cover the following areas:

Organization and management—If you have management or staff employed, this section allows you to share their biographies, backgrounds, and core responsibilities.

Financing request—If you are seeking funding from investors, this is the section to outline the amount of money requested, how it will be spent, and the manner in which it is spent.

Appendix—Your appendix should include industry studies, letters of incorporation, trademark registrations, and partnership agreements, just to name a few documents.

Other Articles From AllBusiness.com:

Lean startup plan

No matter how short and sweet your structure is, a lean startup plan should contain the following elements:

Value proposition—The value that your small business brings to its respective market, summed up in a clear statement.

Revenue streams—Explain and list out the revenue streams your business has for making money. Make sure to include a quick section that defines your cost structure strategy too.

Which format does your business need?

The post Traditional Business Plan vs. Lean Startup Plan: Which Is Best When Starting Your New Business? appeared first on AllBusiness.com

The post Traditional Business Plan vs. Lean Startup Plan: Which Is Best When Starting Your New Business? appeared first on AllBusiness.com. Click for more information about Deborah Sweeney.

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New Year’s Resolutions Every Business Owner Should Make This Year

Many people are in the habit of making personal resolutions to kick off the new year: start a diet, exercise more regularly, finally reorganize that walk-in closet. The same concept should hold true for business owners. Now is the perfect time to reevaluate where you ended last year and what you can do to improve in the coming months.

If it’s not working, leave it behind

In reality, the strongest move a leader can make is to admit something they’ve decided on in the past is no longer working, and take swift, decisive action to change things.

Delegate effectively

Embrace digital

Join a networking group

Give back to your community

The post New Year’s Resolutions Every Business Owner Should Make This Year appeared first on AllBusiness.com

The post New Year’s Resolutions Every Business Owner Should Make This Year appeared first on AllBusiness.com. Click for more information about Meredith Wood.

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Monday, January 29, 2018

New Year’s Resolutions Every Business Owner Should Make in 2018

Many people are in the habit of making personal resolutions to kick off the new year: start a diet, exercise more regularly, finally reorganize that walk-in closet. The same concept should hold true for business owners. The start of a new year is the perfect time to reevaluate where you ended last year and what you can do to improve in 2018.

These New Year’s resolutions for your business can and should go beyond your bottom line. Thinking outside the box about what you can do to strengthen your business is important, and now’s the time to put those plans into action.

If It’s Not Working, Leave It Behind

Your first New Year’s resolution should be to get rid of things that aren’t working for you. Whether it’s a system or process, a marketing strategy, a key vendor or client, or an employee, you have to be able to let go and try a new approach. As a business owner, it can be easy to get attached to the way things are–you’ve likely played a key role in making each decision that’s gotten your company to its current point, so it can feel like a knock on your pride and leadership abilities when something isn’t working.

In reality, the strongest move a leader can make is to admit that something they’ve decided on in the past is no longer working for the business, and take swift, decisive action to change things.

Delegate Effectively

Learning to delegate effectively can be challenging, but it’s essential to employee productivity and the success of your business. If you feel that you may have trouble letting go, check out these tips on How to Stop Micromanaging in the Harvard Business Review.

Embrace Digital

Start small: establish a Facebook page and claim your business on Yelp so that your customers can leave reviews. According to the Pew Research Center, more than half of online shoppers take reviews into consideration before making a purchase. If you’ve already mastered the digital basics, consider branching out into other forms of social media or purchasing digital advertising.

Join a Networking Group

As an entrepreneur, you probably sometimes feel like you’re going it alone. Making decisions about how to build and grow your business is stressful, and having the support of a network of people who are at the same stage of growth and those who have taken their businesses even further can be helpful and inspiring.

Consider joining a networking group for like-minded business owners. Sites like MeetUp make it easy for you to find groups of fellow entrepreneurs in your area. You can also join groups on LinkedIn that align with your skill sets, business interests, or educational background. Sharing ideas digitally sometimes leads to connections in the real world.

Give Back to Your Community

As the owner of an SMB, one of your biggest challenges is attracting customers who are already loyal to the big guys. Consumers who gravitate towards smaller businesses are often drawn in by a business’ story and personal connection. Giving back to your community not only makes you feel great, it also allows you to establish a one-on-one relationship with those in your neighborhood who can become your future customers.

The success of efforts like Small Business Saturday are indicative of consumers’ interest in supporting “the little guy.” If you’re the owner of the ice cream store who donates a sundae party to the school fundraiser or the garden shop proprietor who plants trees and perennials in the city’s traffic circle, you’re more likely to be top of mind for customers who want to feel good about where they’re spending their hard-earned dollars.

The start of a new year is the perfect time to build on your established strengths and to get rid of practices that aren’t working. An honest evaluation of your past year’s performance will allow you to see where you can grow in 2018, and a willingness to fearlessly embrace change will allow you to create new opportunities and reach new heights in the new year.

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What Worries Small Business Owners the Most?

As the first month of 2018 nears its close, how are America’s small business owners feeling about their prospects for the coming year? According to Capital One’s latest Small Business Growth Index, the answer is both good and bad.

First, the good news: Overall, small business owners are feeling positive about their finances. Nearly half (47%) say their businesses’ sales increased in the past six months. That’s the highest percentage recorded by the survey since the second quarter of 2013. In addition, 37% say their financial position is better than it was one year ago.

Now, the bad: Although small business owners are feeling good about their finances, they’re not getting overly confident. There are still several concerns affecting small business owners, and two of the top three worries have to do with money.

Here’s a closer look at what’s keeping small business owners up at night—and what you can do about it if you’re tossing and turning, too.

Taxes

The biggest concern for small business owners is taxes. Almost half (45%) of small business owners in the survey say taxes are a major worry for 2018, and 30% say tax laws had a negative effect on their business last year. Of course, taxes typically rank high on the list of small business owners’ least favorite things, so these results aren’t exactly surprising. However, with the effects of tax reform still to be determined, small business owners have more reason than usual to feel uncertain about how taxes will affect them in the coming year.

If you’re worried about taxes: Put a good accountant or tax preparer on your side. If you normally prepare your own taxes, this may be the year you want to enlist professional help. A tax professional who specializes in helping small businesses in your industry can be invaluable to ensuring you get the tax breaks you deserve. It’s a good idea to talk to your tax preparer early, so you can get advice as to any changes you may want to make in 2018 to reduce your tax burden.

Cash flow

The second biggest concern of small business owners in the survey is managing their cash flow. More than four in 10 (42%) say this is a challenge for them—up 11% from last year’s survey. In other words, although small business owners are currently managing their cash well, they’re not sure they can continue to do so.

If you’re worried about cash flow, there are several steps you can take. Start by keeping a close eye on your cash flow. Too many business owners don’t pay attention to their cash situation until it’s too late. If you are in an industry with thin margins or slow-paying customers, or run a seasonal business, it’s especially important to stay on top of your cash flow weekly or even daily. Take steps to accelerate payments from customers while delaying your own payables to keep more cash on hand.

Other Articles From AllBusiness.com:

Technology

Finally, almost one-third (32%) of entrepreneurs in the survey named “keeping up with technology” as a major challenge, up 7 percentage points from the same time in 2017. With new technologies such as artificial intelligence, voice-activated assistants, and chat bots entering the small business realm, it’s no wonder small business owners feel a bit overwhelmed by the rapid pace of change. Since businesses of all sizes and in all industries are increasingly advertising, marketing and selling online, however, it’s more important than ever to be up-to-date on what technology can do for your business.

If you’re worried about technology: First, find a reliable industry publication/website that covers technology as it relates to your industry. Reading it regularly will help you be aware of technology trends. Not all of them will turn out to have a major effect on your business, but you’ll at least get a heads-up about changes that could impact your company. Depending on your industry and how long it’s been since you’ve upgraded your technology, it could also be worth hiring an IT consultant to assess your current situation and make recommendations.

Speaking of recommendations, I was shocked to see that more than one-third (36%) of business owners in the survey don’t have a website. If you’re one of them, get with the program!

A little bit of worry about the future is an inevitable part of being a business owner. Fortunately, there are plenty of smart moves you can make to be prepared and help you sleep better at night.

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Saturday, January 27, 2018

Simple Ways to Save Money on Airfare Costs

Although reducing airfare costs is not always an easy task, there are things you can do to save yourself some money.

Begin by searching for airfare pricing on airline websites such as American Airlines, Delta, and Southwest, as well as travel search engine sites such as Kayak, Expedia, Travelocity, Priceline, Orbitz, and CheapFlights. Never assume that these websites offer the same price on airfare, as they do not.

Depending on your travel destination, dates, and preferences, you may be quite limited in your options. If this is the case:

Try to book your flight as far in advance as possible (at least 25 days in advance, according to Hopper).
Be as flexible with your travel dates and times as you can.
Check out airfare to airports in your general area, not just the closest one.
Consider booking travel packages (air, hotel, car) that offer discounts.

Other Articles From AllBusiness.com:

Airfare may include hidden costs that are not disclosed or explained. Be aware of additional fees for:

Checked bags
Reservations made by telephone instead of online
Seat assignments
Meals, snacks, and drinks
Booking fees
Changes in travel plans that require you to change your flight

Even though you may not save hundreds of dollars, avoid additional fees by making a few small changes such as:

Take only a carry-on bag for short or weekend trips.
Book online to avoid fees and find the best deals.
Take what you can in regards to seat assignments, rather than “taking advantage” of high-cost priority seating.
Bring your own snacks or eat prior to getting on the plane.
Stick to travel plans if there is a fee for any flight changes.

One other way to save money on airfare is to sign up for frequent flyer miles. Although some airlines block out certain dates, you may still qualify for discounts on those flights.

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Friday, January 26, 2018

What Worries Small Business Owners the Most?

Here’s a closer look at what’s keeping small business owners up at night—and what you can do about it if you’re tossing and turning, too.

Taxes

Cash flow

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Technology

Speaking of recommendations, I was shocked to see that more than one-third (36%) of business owners in the survey don’t have a website. If you’re one of them, get with the program!

A little bit of worry about the future is an inevitable part of being a business owner. Fortunately, there are plenty of smart moves you can make to be prepared and help you sleep better at night.

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Wednesday, January 24, 2018

Business Taxes: If Your Company Isn’t E-Filing This Year, What Are You Waiting For?

Post sponsored by efile4Biz

By Rick Roddis

If I told you that you could reduce your company’s tax errors by 19%, would you be interested? Well, that’s exactly what happens when you shift your tax reporting from paper to the cloud. When businesses use paper tax forms, there’s an average 20% error rate. When filing online, that number drops to just 1%. It’s a no-brainer.

For that reason—and many more—employers are switching from time-consuming, traditional paper filing to streamlined, modern W-2 and 1099 cloud processing. In fact, electronic filing is fast becoming the preferred choice for small businesses.

But what exactly is it?

Electronic filing, or e-filing, is the online transmission of required tax information (such as 1099s and W-2s) directly to the Internal Revenue Service (IRS) or Social Security Administration (SSA), rather than completing and submitting traditional paper tax forms.

Over the past several years, the demand for paper tax forms has declined, while electronic filing continues to grow. Businesses are looking for the smartest alternative—and e-filing is it. Let’s examine the reasons for this shift.

3 cloud processing benefits

E-filing is a popular method for filing 1099s, W-2s, and other business tax forms because everything is done online, eliminating the need for paper forms or software.

Specifically, people prefer e-filing because it is:

Accurate. In addition to the numerous prompts that ensure compliance with the latest tax rules, e-file sites do the complicated calculations. Data entry errors are caught and mistakes are prevented. That’s why the IRS considers e-file returns to be virtually error-proof.
Convenient. Instead of installing software or handling mountains of paperwork, you simply follow a few easy prompts from your desktop. No more struggling with paper jams and misaligned forms in printers. And say goodbye to last-minute trips to the office supply store and post office.
Helpful. Online filers appreciate the regular communication during the e-file process, including email notifications when the IRS and/or SSA receives filings. Plus, you can check the status of a specific filing any time from any computer, laptop, or tablet.

What about recipient copies?

E-filing does not eliminate the need for paper completely. Recipients (i.e., independent contractors and employees) still must receive a paper copy of the W-2 or 1099, or opt in to receive an electronic version.

This means e-filing with government agencies is only part of the process. The other is printing and mailing copies to recipients, a labor-intensive task that many businesses struggle with, especially since it occurs at the beginning of the year, a traditionally hectic time for employers. Fortunately, the right provider will recognize these demands and offer an all-inclusive print, mail, and e-file service.

3 outsourcing advantages

Many businesses choosing to e-file will seek a provider that can also print and mail recipient copies. Using a full-service partner is appealing because:

It saves you money. When considering the dollars and cents impact of paper filing, don’t neglect to include labor costs. Online filers who select an all-in-one tax reporting partner save on payroll associated with having an employee manually print and mail forms.
It saves you time. The data is entered or uploaded online and then the provider handles the rest. The time that you and your staff save can be put to better use in growing the business.
It gives you security. Printing forms like W-2s on the office printer and having employees handle mailing isn’t the most secure or confidential process, especially when you consider these documents contain sensitive information like annual salary and Social Security numbers. Mismatching forms and envelopes is a concern, too. Imagine what would happen if an employee received a coworker’s W-2. Outsourcing to a specialized and reputable provider can give employers valuable peace of mind.

Security makes the difference

Security is of critical importance when filing taxes electronically. There are several factors you should consider when choosing an e-file provider for cloud processing. First and foremost, you need to verify they are an IRS-authorized e-file provider.

To obtain this “stamp of approval” from the IRS, a tax-reporting business must go through a rigorous three-step process:

Step 1: Create an IRS e-services account. Before a business can submit an e-file application, it must create an IRS account, which allows electronic interaction with the IRS. In addition to providing specific identification details (Social Security number and phone number), the person creating this initial account must make sure every principal and responsible staffer in the business signs up for e-services. This point person also must confirm registration within 28 days of receiving an IRS confirmation code in the mail.

Step 2: Submit an e-file application. A business can begin the application once all essential people are approved for e-services. Because the application is so comprehensive, it can take up to 45 days for the IRS to approve it. As stated on the IRS website:

“The application process is not simple, but as a tax professional, you understand these steps are necessary to protect the integrity and security of the electronic filing system. We all have a stake in maintaining the highest standards for e-file providers.”

Step 3: Pass a suitability check. Once the business has submitted an application and related documents, the IRS can conduct a suitability check on the organization and each person listed on the application as either a principal or responsible employer. This may include a credit check, tax compliance check, criminal background check, and/or a check for prior noncompliance with IRS e-file requirements.

Upon this approval, the business gets an acceptance letter from the IRS with its Electronic Filing Identification Number, or EFIN. Now enrolled, the business can offer e-filing.

Handling sensitive data

It is also important that you know how the business handles sensitive data. Due to the ever-present threat of data breaches and other security threats, an e-file provider needs to offer the strongest data encryption possible.

Only with end-to-end data encryption recommended by the federal government can a provider effectively block the interception or interruption of information by a third party. Data should be encrypted as soon as it’s entered on the website, and stay encrypted throughout the entire process.

It’s important to note that the IRS doesn’t regulate how recipient data is handled. Instead, it’s entirely up to the service provider.

Security with print and mail

For cloud processing, data transmission is just the first step that requires the necessary protection. Printing and mailing recipient copies is the next step. For this, you’ll want to ensure the company has achieved Service Organization Control (SOC) certification. This special certification by the American Institute of Certified Public Accountants (AICPA) means that every step of the e-filer’s process has been thoroughly examined and approved to guarantee security.

Specifically, the AICPA examines these areas:

Security. The entire system is protected against unauthorized access.
Availability. The system is functional and operates correctly.
Processing integrity. Data processing is complete and accurate.
Confidentiality. All sensitive information is protected.
Privacy. Personal information is collected, used, retained, and disclosed in accordance with the AICPA’s privacy principles.

The certification process is costly and time consuming, but in the end it is key indicator of a quality provider.

Ready to make the leap?

One of the nation’s leading e-filing providers, efile4Biz.com is IRS authorized and SOC-certified. And that’s important because you need to be confident your confidential data will remain confidential. Save valuable time this tax filing season. Creating an account is free, and it’s the first step to experiencing all the advantages of e-filing.

About the Author

Post by Rick Roddis

Rick Roddis is president of ComplyRight Distribution Services, a division of ComplyRight, Inc., a provider of cutting-edge compliance products and programs for businesses. Rick’s career began as an insurance underwriter and advanced into sales, operations, and management roles at different companies that partnered with Intuit, Staples, Office Depot, and others. In 2008, he became president of TFP Data Systems, the leading manufacturer of 1099, W-2, and ACA tax forms, envelopes, and software. Over the past four years, he’s focused on transforming ComplyRight Distribution Services from a traditional forms manufacturer to a digital provider of tax solutions for businesses through services like eFile4Biz.com

Company: ComplyRight Distribution Services
Website: www.efile4Biz.com
Connect with me on Facebook, Twitter, and LinkedIn.

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6 Business Loan Scams and How to Spot Them

By Carl Faulds

Not all scammers are as obvious as the ones who spam your inbox claiming to be bank managers from Nigeria with millions of dollars to disburse. There are plenty of sophisticated crooks ready to prey on your business, and keen to exploit the meteoric growth in online lending.

So what are the most common scams and how can you spot them?

1. The peer lending scam

Peer-to-peer lending has become one of the most important sources of online financing. Unfortunately, there are some shadowy operators out there, using Facebook Messenger and other less traditional avenues to hook in victims.

The scam works like this: You’ll be contacted out of the blue and offered peer-to-peer financing, then asked to pay an arrangement fee or fork out for background checks. You’ll never see the promised cash and you could lose quite a bit of money, as well as data that can be used for identity theft.

2. The business angel scam

This is a variant on the peer lending scam, only this time the individual contacting you will claim to be a wealthy investor with plenty of cash on hand. After being flattered that your business sounds like an excellent investment prospect, you will be asked to pay for background checks, due diligence paperwork, or legal documentation.

3. The consultancy fee scam

This isn’t strictly speaking a scam, as it’s probably legal, but it’s a complete waste of money nonetheless. The individual or firm in question will approach you, claiming that obtaining business financing is so complicated that you stand no chance without their assistance.

In some cases, alongside coaching on getting a loan, you will be offered access to an exclusive low-interest deal, which probably doesn’t exist. Nobody said getting a loan was easy, but it certainly doesn’t require any special expertise—or anything that you can’t do yourself.

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4. The credit repair scam

Most young businesses have an inadequate credit score. It’s a simple fact of life. However, there are plenty of predators out there who’ll be keen to convince you that they have the expertise and tools to transform your score—in return for a hefty fee, of course.

These services are a straightforward waste of time and money, and should not be confused with similar services for personal credit scores, where it is possible to make a difference.

5. The loan broker scam

Loan brokers exist to identify the right products for your business, make introductions to lenders, and prepare the paperwork to ensure a smooth process. There are plenty of legitimate and professional brokers, who get paid a commission from lenders for arranging loans; unfortunately, there are also quite a few sharks, who charge upfront fees for the same service.

6. The advance fee scam

Tantalising you with the prospect of a generous business loan with very low interest rates—even if your credit score is damaged or incomplete—the scammer will persuade you to part with an upfront arrangement or processing fee. Of course, the supposed loan will never materialise, and in any case legitimate lenders don’t require payment in advance.

So if you’re contacted out of the blue via Facebook Messenger or Skype, offered a deal that sounds too good to be true, and asked to pay an upfront fee, run far and run fast. In particular, be very careful of lenders without physical premises that you can visit or which use generic email addresses, and never give in to hard sell tactics. A legitimate lender won’t tell you that a particular offer is on the table for today and today only. In short, keep your wits about you and always trust your instincts.

About the Author

Post by: Carl Faulds

As Managing Director of Cashsolv Business Loans Carl offers advice and support to overcome cash flow problems and identify possible underlying problems. To ensure a positive future for your business click here.

Company: Cashsolv Business Loans
Website: www.cashsolv.co.uk
Connect with me on Twitter, LinkedIn, and Google+.

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Small Business Retailers: Here’s How to Turn Your Retail Pain Point into Retail Opportunities

Stuck between a rock and a hard place! Have you ever heard that saying before? I think a lot of local business owners—especially retailers—must have that feeling right now.

I say this because about 90% of all retail sales are still happening inside brick-and-mortar locations, yet the pressure of e-commerce is unrelenting. As you can see from the growth curve in the chart below, e-commerce sales are steadily increasing, and I don’t think there are any economic forces that will slow down that growth right now. In fact, as millennials and Generation Z become the majority of consumers, and Baby Boomers decrease in numbers, reliance on e-commerce may grow even more quickly.

Image source: U.S. Census Bureau

The “rock and hard place” for retailers are these two points:

Retailers must market and sell online (providing a great customer experience), and
Retailers must continue to market via legacy channels and provide a great in-store experience.

This means that retailers need to be digitally fluent, but at the same time be experts at traditional retailing skills. There are even more interesting twists because digital marketing and in-store selling overlap. It’s increasingly important to leverage the internet to get people into your physical location, and in a similar way, smart retailers are leveraging their in-store customer interactions to enhance their digital marketing.

Integrating online and brick-and mortar

Do you have all of these bases covered?

Can prospects buy from your website?
Can prospects make inquiries via the internet?
Does your in-store customer experience create loyalty, even brand ambassadors?
Does your website navigation create a pleasing online experience?
Do you capture email addresses at your physical location?
Does the look and feel of your website reflect the same brand image as the look of your physical location, and vice versa?
Do your website and physical locations have a look and feel that appeals to your prospects?
Do you attend to in-store and online customers with the same level of promptness, courtesy, and efficiency?

It’s important to note that the major players in retail are working hard to integrate online and brick-and-mortar. Amazon is opening local outlets and using Whole Foods as a location for deliveries and returns; Walmart, Bass Pro Shops, Home Depot, and others are giving online customers the option of in-store order pickup. Many retailers are sending receipts to customers via email.

As you can see from the bulleted list and my observations about some of the plays the national chains are making, the retail infrastructure ecosystem must quickly evolve to accommodate these changes. Companies like Amazon and Walmart can grow the software and systems in-house to pull off any brick-and-mortar-and-online magic that they may envision, but smaller companies need to find off-the-shelf solutions.

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For local establishments, such as retailers and restaurants, looking to launch a polished online presence, a variety of DIY, drag-and-drop, template-based online website creation services are available. A point-of-sale system compatible with both local and online sales is an important component element. In addition, a point-of-sale system has to be compatible with the incredible range or payment methods in use today.

Anyone who tried to integrate an online credit-card processing system with a legacy system a few years ago, knows that it wasn’t a job a local business owner could handle alone. Today, point-of-sale systems from e-commerce platforms like Shopify make payment system adoption and integration—both locally and online—a legitimate DIY process.

Bringing on a solid inventory management system is another crucial element for success when you want to conduct business in both the real and virtual worlds. Few things will sour a prospect against your company more quickly than not having an advertised or displayed product. The days of “I’ll look in the back” are long gone. Inventory numbers have to be correct and updated in real time.

Tomorrow is quickly becoming now

Integrating online and in-store operations will continue to be a major trend in the coming years. Don’t miss this one; it’s important. Tomorrow’s customers will want to browse your aisles one day and then order online the next time they need something you offer.

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