NebulaBiz Cash Advance Melbourne Fl: June 2018

Friday, June 29, 2018

$6 Million in Bogus Organic Fruit Sold to U.S., Costa Rican Report Finds

Best Banks for International Travel 2018

When traveling outside the U.S., you can save money by finding a bank with low wire-transfer charges, decent currency conversion rates and competitive international bank ATM fees. Best banks for international travel HSBC Bank: Best for expats Capital One 360: Best on foreign transaction fees Schwab Bank: Best for using ATMs Citibank: Best for wiring money Here are our favorite banks...

The article Best Banks for International Travel 2018 originally appeared on NerdWallet.

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AmEx Platinum Cardholders Can Get Up to $100 Back at Saks

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Best Ways to Send Money

When you send money online, the best way depends on how and where you want to send it. We compared fees, speed and other features to find the best providers for domestic and international money transfers. + See a summary of our picks How to send money online, on mobile or in person Venmo: Best...

The article Best Ways to Send Money originally appeared on NerdWallet.

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What to Buy (and Skip) in July

World First Money Transfer Review: Personal Service, Good Rates

World First NerdWallet’s rating: 4.0 / 5.0 Where World First shines: No fees for sending $10,000 and up Ability to deliver money within a day, especially between major currencies Where World First falls short: Minimum transfer amount is $1,000 Limited to bank accounts for sending and receiving money Where World First shines: No fees for...

The article World First Money Transfer Review: Personal Service, Good Rates originally appeared on NerdWallet.

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Radius Bank Review: Checking, Savings and CDs

Simple Steps to Forming an Advisory Board for Your Small Business

If you’ve just started a new business, you may have thought about forming an advisory board—or, maybe you’re at a point where you need an advisory board to guide your growing company to the next level. Either way, you may not know what steps to take. Here’s a guide to helping you form a board that can guide your company to success.

First steps

It’s time to form an advisory board when you either don’t know whom to ask about your business questions or you aren’t getting satisfactory answers to your questions.

Consider the types of questions you have. Do you have marketing questions? Sales questions? Financial questions? Note the types of questions you’ve have and put them into logical categories. Some areas could be financial reporting, risk management, human resources, competitive strategy, acquisitions and divestitures, technology, and governance and compliance. Once you’ve organized your categories, look for people who have those skills to join your advisory board.

Who can you ask?

Now that you know the kinds of expertise you need, you have to find people who possess that expertise. If you don’t know where to find people, don’t worry. I’ll bet that you know people who have connections to the people you want to meet.

Think about all the possible connections you have through your existing customers, trade association memberships, or even your church. There’s bound to be someone who knows a resource in sales strategies, compensation, or risk management, if you are specific when you ask.

I would avoid asking family members or friends to join your advisory board. Why? Friends and family are usually available to answer your questions anyway so they’d be taking the spot of someone who could give you unbiased information. Also, people who know you well may find it difficult to tell you answers you don’t want to hear. Save the spots on your advisory board for people whose opinions you wouldn’t get otherwise.

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How to ask so they say yes?

One of the most effective ways to get someone to yes to joining your board is to be specific about why you’re asking them. Start with a brief description of your company, if they don’t know you well, and then explain to them why the skills they possess are needed on your board.

However, if someone doesn’t know you, there is a higher chance of them turning you down. So you may want to first ask people that you already know well. Then later you can say, “John Doe, Jane Brown, and Jack White are on my advisory board. I would like you to join it as well because of your business strategy skills.”

A well-formed advisory board can help you solve your toughest business challenges. You want people to join you who you enjoy working with and whose expertise is valuable for your business. Think of your advisory board as the people who will help you make wiser decisions. And who wouldn’t want that?

The post Simple Steps to Forming an Advisory Board for Your Small Business appeared first on AllBusiness.com

The post Simple Steps to Forming an Advisory Board for Your Small Business appeared first on AllBusiness.com. Click for more information about Maura Schreier-Fleming.

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5 Ways to Get Amazing Photography to Build Your Business Brand

How much has your business invested in top-quality photography? If you’re like most business owners, photography is an afterthought. It may be essential for some advertising pieces, but overall it’s an extra luxury that isn’t necessary to help your business grow.

However, photography has more potential to move your business forward than you realize—and having quality photos is easier than you might think.

Why photography matters

The quality of your photography is going to speak to the quality of your brand. Not only are better photos more eye-catching, they also will make your products look better, and form a better first impression of your company for your customers.

The importance of good photography is compounded by the sheer number of applications in the modern marketing world:

Your website. Photography has the power to show off your brand in exciting, dynamic ways. You might be able to capture the mood and tone of your brand personality with a single snapshot, or show visitors your physical location with an impressive photo.
Advertising. The right image can grab someone’s attention and convince them to take action, while a bad or amateur photo might compromise your brand reputation.
Product showcases and packaging. Before customers buy a product, they want to see it in action. Product images on your site as well as packaging visuals should have photos that highlight your product at its best.
Social media. Photography is so important for social media that some have argued the medium has changed photography forever. Platforms like Instagram require you to take good photos—or else be lost to a sea of irrelevance.

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How to get high-quality photography

How are you supposed to achieve the photography necessary to make the best impression on new and existing customers alike? Here are some options:

1. Hire a contractor. Thanks to the gig economy, there’s no shortage of part-time and independent contractor photographers eager for some side work. Use freelance boards, social media, or a good old-fashioned web search to find photographers in your area, and take a look at their portfolios. It’s a good idea to find someone who has had experience shooting photos for a brand. Also keep in mind, you get what you pay for—more experienced photographers tend to charge more

2. Recruit a full-time employee. You could also hire a photographer as a full-time employee, provided your business is large enough to support full-time hours. The obvious downside here is the level of commitment you’ll need to offer. Full-time photographers can be expensive, and if you don’t have ample need for them, you could end up wasting money.

3. Train one of your own employees. If you don’t want to spend the money on a full-time employee or don’t have the time or patience to weed through freelancers, you could train one of your own employees to take photographs. This is advantageous for several reasons: You know they have a good work ethic, you can save money, and you can prevent the need to recruit or go through the hiring and orientation process for someone new.

4. Work with a full-service agency. If you work with a marketing or advertising agency, chances are they’ll have a professional photographer on staff. Your monthly retainer fee will likely cover at least some of this work, especially if it’s going to be used in advertising or promotional materials also being produced with the agency. Just make sure you scope out the photographer’s credentials first. Of course, if photography is your only goal, hiring an agency probably isn’t the most cost-effective choice.

5. Subscribe to a photo service. Stock photography services are becoming more popular and offer millions of professionally-taken photos for a reasonable monthly rate. However, there are several downsides to using stock photography. You’ll have a limited supply of photos, none of which feature your product or your company, and chances are they’ll look like stock photos, and your customers may have seen the images before.

If you want your business to be competitive in today’s market, you’ll need a high-quality photography resource to help you. The question is, how much are you willing to invest, and how much flexibility do you need? There’s no right answer here, but if you skimp on your photography or neglect it entirely, it could damage the brand reputation you’ve worked so hard to build.

The post 5 Ways to Get Amazing Photography to Build Your Business Brand appeared first on AllBusiness.com

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Home-Business Owners: Here’s How to Maintain a Healthy Work-Life Balance

If you operate a business out of your home, you may find it a challenge to block off time for yourself. You are constantly thinking about propelling your business forward, and there are no hours that are off limits.

But maintaining this type of lifestyle for long can cause you harm and impact your personal life. It’s important to find a healthy work-life balance, where you make sure you clock out for a portion of the day, just like a traditional job would have you do.

To help you create a healthy work-life balance with an at-home business, we asked members from YEC Next this question:

What is your top tip for maintaining a healthy work-life balance while running a business out of your home?

1. Focus on priorities, maintain harmony

As someone working from home, you know it’s crucial to understand whether you are “at home” or “at work.” Some people work from a different room, but I don’t mind working from bed, either. What is important to me is realizing what has the highest priority: Sometimes, it’s a task for work that requires me to work longer; sometimes, however, it’s myself and time spent my wife. —Milan Steskal, Mentegram

2. Don’t let your calendar hustle you

My number one piece of advice to all entrepreneurs balancing life and work is to take control of your calendar as soon as possible. I have four email addresses with four calendars, and I use Calendly and Gmail to monitor and manage my time. When time is blocked off on one calendar, it blocks that time off all of my calendars. My personal and professional life has done a complete 180 since taking back my calendar. When you own your time, you get a better understanding of your own bandwidth and personal limits. —Melissa Rautenberg, Latin & Code, LLC

3. Run your business; don’t let it run you

There are significant advantages to running a business from home, but they can be lost without discipline. At one extreme, you have many distractions, unless you have designated working areas and times. At the other extreme, you can easily become a workaholic who is working all hours. Run your business with set business hours and days. Make sure to schedule personal time with the same priority. —Ryan Meghdies, Tastic Marketing

4. Keep tech away from the bedroom

In my home, I have to separate the tech from the bedroom. It may sound funny, but it’s true. I leave my phone (and computer) out of the bedroom. This helps me to sleep better, and I’m less likely to check my phone as soon as I wake up. In the morning, I can focus on journaling, meditating, and preparing for my day without being interrupted by notifications. I wake up feeling more rested and calm. —Uchechi Kalu Jacobson, Linking Arts Web Design & Development

5. Make space and get out

I ran my first business from home for its first 18 months. My advice would be to have a separate space for working—the trip across that imaginary line in the living room can make all the difference at the end of day to switching off—and to make sure you have time out of the home office each day to ensure you can clear your head when required. —Tom Chalmers, Legend Times Group

6. Block time for yourself

One of the key benefits of working for myself is the flexibility of being able to take midday breaks to go for a hike or meet a friend for lunch, but it doesn’t happen if I let my calendar get overcommitted with client and prospect calls. I try to structure out my week in advance, leaving space for my own pursuits, so that I can take a break from a work project and come back feeling refreshed and ready to focus. —Kathryn Hawkins, Eucalypt Media

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7. Set boundaries

The space you designate for business should only be about business. Letting your home life dip into this space will hurt your business, which in turn will hurt your home life. If you have family, remind them of this fact. Defining and respecting your workspace is only going to make you a more diligent worker. Remember that working from home is an opportunity not afforded to everyone. —Bryan Driscoll, Think Big Marketing, LLC

8. Manage and delegate

Managing and delegating are the keys. As an entrepreneur, business owner, and mother, I have mastered managing my time to get the best results. I’ve learned how to delegate tasks and share my work, and I create real-time updating and collaborative to-do lists, which help me to keep track of activities and who is responsible, potential issues, and deadlines. I make sure to take small breaks to clear my mind, as well. —Jessica Baker, Aligned Signs

9. Practice mindfulness

A few of the advantages of working from home are space, privacy, and tranquility. With brief sessions of transcendental meditation spread throughout the day, I find it easy to stay on top of what matters most on a given day. One of the techniques used in meditation is called noting, whereby you move your focus away from breathing to something else, and you note what that was before going back to the breathing. —Shan Rizvi, Just Ads International AB

10. Take that lunch outside

Whether working from home or being a desk jockey putting in long hours, it’s important to strike a balance between your desire to work 24/7 and the appropriate time to decompress and reflect. Getting in the habit of breaking out is key, and there’s no better way to do this than removing yourself physically from your desk for lunch. Try it out—it may just open your eyes to new ideas and possibilities. —Kam Diba, Reverge

11. Give yourself some structure

Have a strict rule against bringing your laptop to bed. Designate places around the house where you allow yourself to work and others where you do not. Wear real clothes. Block time to step out into the fresh air and have contact with other people. Join a group fitness studio that has scheduled class times. Plan to work from your favorite remote spot(s) a few times a week. —Grant Leonard, The Grant Leonard Group, LLC

The post Home-Business Owners: Here’s How to Maintain a Healthy Work-Life Balance appeared first on AllBusiness.com

The post Home-Business Owners: Here’s How to Maintain a Healthy Work-Life Balance appeared first on AllBusiness.com. Click for more information about YEC Next.

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7 Ways to Attract New Readers to Your Business Blog

Effective blogging starts by creating an attractive space on your website, then providing interesting content that will keep customers coming back for more. Here are a few things you can do to bring new readers to your blog, which will hopefully then translate to sales.

1. Know your customers

Before you start trying to connect with customers through your blog, make sure they would be interested in reading it. You can tell a great deal about your customers by paying close attention to their preferred method of communication. Some of your clients will communicate with you by email, while others will take conversations straight to a phone chat. If your target audience is constantly on the go, your blog posts will need to reflect that with short, easy-to-digest content that displays well on a smartphone screen.

2. Understand SEO

If you’re like most businesses, you want your blog to serve as a traffic generator. This means making sure the words you post capture the attention of search engines. Search engine optimization (SEO) goes beyond simply plugging some keywords into your content. For best results, carefully choose a couple of keywords, include them in the title and one or two other areas of your posts, and make the most of tools like meta descriptions and title tags. When combined with engaging, informative content, these strategies will improve your success rates.

3. Establish thought leadership

Once you’ve become a respected voice in your field, people will seek you out for advice. You can get started by posting insightful content on your own blog, then sharing it on social media. But to reach new audiences, seek out guest-posting opportunities on sites your target audience is likely to visit. Even if your posts are something only those in your own industry will read, you’ll probably find that when you’ve earned the respect of your peers, they’ll eagerly tell others about you.

4. Build relationships

In addition to posting on other blogs, you should also consider hosting guest bloggers on your own blog. It’s a great networking tool since you’ll make connections with others relevant to your industry, and you may even find your guest bloggers will offer to return the favor.

Once the post is live, make sure you share it on social media. You’ll probably find that the guest host either will share what you post or write something original about it. This in itself will expand your reach. You can also build relationships in your industry by interviewing influential people and tagging them when you share posts.

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5. Make it shareable

People are searching for interesting content to share. If you can create a blog post that helps other people in your industry provide actionable information to their own followers, you’ll find you will get more views than you could generate on your own.

Come up with fresh content packed with information people can’t get anywhere else. If you can conduct your own study, for instance, you’re more likely to find your statistics quoted in articles and blog posts across the web. To make the most of the work you put into gathering such information, considering hiring a graphic designer to put together an infographic that will generate shares.

6. Master social media

Your blog posts are only one part of the process; they create information that you can then share with your social media followers. Make sure you set up a professional, active social media presence on the sites where your target demographic is likely to be. Then share your posts with appropriate hashtags and interact with any followers who comment on it.

In addition to sharing interesting content, you should put time into interacting with others. If you’re treating social media as a two-way street, you’ll get better results than if you just spam everyone every time you have something to promote.

7. Be consistent

It isn’t enough to post only when you have a new product out—you should make an effort to keep your social media account active. If you can post something at least once a day, you’ll get better results than if you disappear for weeks at a time.

Experts use content calendars to plan their posts months in advance. You can account for daily activity, but you can also plan to accelerate your posting schedule in the days surrounding a major event, such as a product launch or special promotion. Once you have a schedule, use a scheduling tool that will let you write posts ahead of time and schedule them to go live automatically.

Blogging can bring fresh content to your website, helping you reach new audiences. It’s important to integrate your social media efforts with your blogging schedule to make sure you’re maximizing the promotional potential of every post.

The post 7 Ways to Attract New Readers to Your Business Blog appeared first on AllBusiness.com

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How to Maintain a Healthy Work-Life Balance With a Home Business

To help you create a healthy work-life balance with an at-home business, we asked members from YEC Next this question:

What is your top tip for maintaining a healthy work-life balance while running a business out of your home?

1. Focus on priorities, maintain harmony

2. Don’t let your calendar hustle you

3. Run your business; don’t let it run you

4. Keep tech away from the bedroom

5. Make space and get out

6. Block time for yourself

Other Articles From AllBusiness.com:

7. Set boundaries

8. Manage and delegate

9. Practice mindfulness

10. Take that lunch outside

11. Give yourself some structure

The post How to Maintain a Healthy Work-Life Balance With a Home Business appeared first on AllBusiness.com

The post How to Maintain a Healthy Work-Life Balance With a Home Business appeared first on AllBusiness.com. Click for more information about YEC Next.

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What Is a Balance Sheet and How Can It Benefit Your Business?

Are you making the most of your business’s balance sheet? If your answer is “What’s a balance sheet?” you’ve got some catching up to do. However, even if you or your accountant create balance sheets on a regular basis, you may not be using your balance sheet to the fullest.

A balance sheet is more than just a spreadsheet to file away with your financial documents. It can help you in many ways. In this post, I’ll explain what a balance sheet is, the components of a balance sheet, and how to use a balance sheet.

How to do a balance sheet

A company’s balance sheet is one of its key financial statements, along with the income statement and the cash flow statement. The balance sheet shows the company’s assets, liabilities, and equity at a given point in time. It’s called a balance sheet because assets and liabilities balance out to arrive at the owner’s equity.

1. Assets

Current assets are cash or assets that can easily be converted into cash. They include:

Assets that will be converted to cash within the next operating cycle (such as raw materials used to manufacture products)
Short-term investments
Accounts receivable
Inventory
Long-term investments

Fixed assets are assets you’re not planning to convert into cash (such as equipment, company cars, or your physical plant)

Other types of assets include:

Intangibles (goodwill, patents, and franchise agreements are all examples of intangible, but still valuable, assets)
Miscellaneous (assets that don’t fit into the above categories)

2. Liabilities

Current liabilities are those due within the next 12 months. These include:

Accounts Ppyable
Taxes
Short-term loan payments

You should also include long-term loan payments, such as a mortgage on the building where your business is located.

3. Owner’s equity

Your business’s assets plus its liabilities add up to the owner’s equity. If your business is incorporated and some of the equity belongs to your shareholders, remember that they’re owners, too.

What to pay attention to on your balance sheet

Because they look out over a 12-month period, balance sheets are a good way to get a long view of your business’s financial situation. With your balance sheet at hand, you can run some numbers that will give you an indication of your business’s overall financial health:

Current ratio: Divide current assets by current liabilities; this number should be at least 1.0 and ideally closer to 2.0.

Debt-to-equity ratio: Divide total liabilities by owner’s equity; the lower this ratio is, the better.

And here are questions to ask yourself about your balance sheet:

Is the bulk of your assets inventory? This could be a sign that you are holding too much inventory, which costs money to store and may have to be sold at a loss.
How much of your assets are cash or current assets? If you don’t have access to ready cash, this can cause problems for your business. For one thing, you won’t have money to invest in growth or expansion.
Are you collecting on your accounts receivable in a timely fashion? Assets you don’t have in hand can’t contribute to your business.

What can you learn from a balance sheet?

A balance sheet gives you a full picture of your business’s finances, one that takes into account all of your assets and all of your liabilities—including those that aren’t part of your cash flow statement. With this birds-eye view of your business, you can make necessary changes, such as:

Adjusting your purchasing process and inventory management
Converting more of your assets to current assets
Improving your collections methods to get paid on time

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A balance sheet is also essential if you’re trying to get a business loan from a bank or capital from investors. Here are some things potential financing sources will look at on your business statement:

Are you retaining enough earnings in the business? If you’re distributing all of your profits, bankers and investors will worry that you don’t have enough of a “cash cushion” to get you through a downturn.
Are your financial statements professionally done? While you can create your own balance sheet (and you should definitely know how to read your balance sheet), if you’re looking for capital, have an accounting professional prepare this and all of your financial statements. Aside from saving you time, professionally prepared financial statements are considered more reliable than those generated inside a business.
Do you have skin in the game? A balance sheet may reveal that your business relies too heavily on lenders or investors. If you don’t have a reasonable amount of owner’s equity, financing sources may doubt your commitment to the business should things get rough.

What’s your business worth?

Ultimately, a balance sheet calculates the value of your business. Even if you aren’t planning to sell your business in the near future, think of it as a way to keep score.

You may find out your business is less successful—or more successful—than you thought it was. Most people greatly overestimate the value of their businesses, so getting a reality check can be helpful. By pinpointing shortfalls in your business’s finances, a balance sheet can help you make long-term changes that will improve your company’s chance of success.

The post What Is a Balance Sheet and How Can It Benefit Your Business? appeared first on AllBusiness.com

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Tuesday, June 26, 2018

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Many banks offer deposit accounts with college students in mind. Some of them are great, but others aren’t. When looking for a new bank as a college student, seek out accounts that have the following: no or easily avoided monthly fees, solid overdraft policies, good interest rates, extensive ATM networks and online banking. The following...

The article Best Bank Accounts for College Students originally appeared on NerdWallet.

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Monday, June 25, 2018

Louisiana First-Time Home Buyer Programs of 2018

Buying a home in the Bayou State can mean choosing a neighborhood close to lakes and rivers, abundant with recreational opportunities, or selecting a house in a historic district, bounded by brick streets and boutiques. Either way, Louisiana’s great food and music are always nearby. Choosing a mortgage is much harder. But first-time home buyers...

The article Louisiana First-Time Home Buyer Programs of 2018 originally appeared on NerdWallet.

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What It Really Takes to Apply For and Secure a Small Business Loan

Whether at the beginning of their business venture or well down the line, at some point, most entrepreneurs and small business owners will find themselves in need of financing. Some entrepreneurs are looking for help getting their dreams off the ground, and others need help growing, expanding, or keeping things moving.

Whatever the reason, a small business loan is often the solution many entrepreneurs need. But different loans require different steps, paperwork, and lead time—so there’s no universal borrowing experience. There are, however, certain things you can expect from almost all business loan application processes, and it’s helpful to be prepared for what’s to come if you plan to apply. Here’s what you should expect when you apply for and (hopefully!) secure a small business loan for your company.

A Review of Your Personal Credit History—and Business Credit (If You Have It)

The most important thing to remember when applying for a small business loan is that every lender is always trying to mitigate their risk. Accordingly, lenders will be evaluating your application based on how much risk they’re taking when lending you money as the owner of your business.

Initially, most lenders, whether traditional banking institutions or alternative lenders, will look at your personal credit score, since it serves as a standardized numerical score of your history with debt. Your company also might have a business credit score—which is different than your personal score. That’ll depend on your length of time in business, and whether or not you have other business credit history, like a business credit card, for instance. (It’s not required to apply for a loan, though—your personal credit score will do.)

Lenders won’t require you to have perfect credit in order to get approved for a loan—and there are loan products available for business owners with less-than-stellar credit at that. But, as you might expect, the better your credit score is, the greater your chances are for approval. Plus, the more options you’ll have for different types of loan products, with higher amounts and better repayment terms, too.

A Deep Dive Into Your Business (and Maybe Personal) Financials

Lenders will generally also scrutinize your business’s financial health—especially in the case of term loans with longer repayment periods. Your company’s ability to generate revenue and sustain consistent cash flow will have a bearing on whether or not you can repay your loan—so it’s very much a lender’s business.

You’ll want to have comprehensive, accurate bookkeeping to be able to secure your small business loan. That way, your lenders will have a definitive snapshot of how well your company is doing—and whether or not you’ll be able to repay that loan they’ll extend you (remember, it’s all about risk).

For some types of loans—particularly SBA loans—lenders will want to dig into personal finance information for you and any co-owners of the business. In that case, you don’t want to be caught off guard. Get organized in advance by knowing how to fetch bank statements and tax returns, and expecting to do a bit of paperwork.

A Thorough Assessment of Your Business Case

Sure, we’d all like more money—but what, exactly, are you going to use this money for? That’s what your lender will ask, so make sure you have an air-tight case for why a bank should lend you and your small business thousands of dollars.

Your lender will ask you for a use case during the loan application process. Some loans come with specific usage rules attached to them, so understanding whether or not you want to finance a specific purchase versus having an available line of credit, for instance, will help you also figure out which loan to apply for.

SBA Loans and some bank loans require specific business proposals among their requirements. The depth with which you’ll need to outline your use case will vary with the type of loan you’re applying for—but it’s good business sense to know exactly why you’re applying, regardless.

A Vetting Process—and a Lot of Paperwork

If your lender approves you for a loan, you’ll go through the underwriting process. This is how banks ensure you’re ready to take on the loan—and able to repay it based on your financials. Underwriting can be an overnight process (like a line of credit) or even months (like an SBA loan) depending on the amount you’re borrowing, what kind of loan product you’re getting, and how organized you are with your documentation.

Each loan requires different documentation for underwriting. In general, if you want to prep some paperwork in advance, you can start pulling:

The two years of personal and business income tax returns
3 to 6 months of bank statements for your business
Business organization documents to prove ownership (articles of incorporation, LLC agreement, or partnership agreement)
Business Profit & Loss (also known as an income statement)
Business balance sheet

SBA loans will involve a lot more paperwork—one of the reasons why their underwriting periods are generally longer. For these highly coveted loans, be prepared to provide more details about your company, plus yourself and any co-owners, too.

A Business Loan Can Get You on a Path to Growth

One final word of advice: Before you sign documents, it’s a good idea to make sure you feel comfortable with your repayment plan. As a savvy business owner, you’ll want to feel confident about your ability to pay back your loan.

After all, you’ve gone through the tough process of applying for a small business loan—you want to make sure it’s the perfect product for you with terms that suit your business. And once that cash is in hand, you’ll be on your way to accomplishing your business ambitions.

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What’s Next for America’s Small Business Owners?

America’s small business owners are doing well and feeling confident about what the future holds, according to the Q2 2018 Small Business Index report by MetLife and the U.S. Chamber of Commerce. Here’s a closer look at how small business owners across the country are doing. Keep reading to see how your business compares.

Positive outlook

In general, the new report continues a trend of positive outlooks among entrepreneurs over the past four quarters. For example, more than six in 10 (61%) of small business owners surveyed say their businesses are in “good health” overall. In addition, almost 4 in 10 (38%) say their businesses are in “very good health.”

Faith in the future

Last quarter, small business optimism about the national economy surged immediately after new tax laws were passed. Since then, optimism has leveled out a bit at 47%. However, that’s still the second-highest rating in the survey’s history.

A similar number of small business owners feel good about the health of their local economies, which is often a bigger factor in a small business’s revenues than the national economy. Almost half (40%) of small business owners in the survey rate their local economy as “good,” which is tied for the highest rating in the survey’s history.

Working hard

If small business owners are feeling positive about their futures, there’s no doubt they’ve earned it. Survey found that the average small business owner spends more than 14 hours each day working in their business—making their workday almost twice as long as the typical American employee’s 7.8-hour workday. All told, this means small business owners are putting in about 70 hours per week.

Even small business owners who describe their companies as being in poor health report working 10.25 hours a day.

What are small business owners spending their time on? The average work day for a small business owner in the survey breaks down to about 5.6 hours working with clients or customers, about 4 hours working on administrative tasks, and about 3.7 hours managing staff. There’s also an average of 6.7 hours per night sleeping. If my math is correct, that leaves between three and four hours a day for family, friends, and personal time.

I’m glad to see small business owners are spending the bulk of their day actually working with clients and customers—after all, isn’t that what it’s all about? However, spending four hours on administrative tasks seems excessive to me. I can easily see how administrative duties can expand to take up four hours per day, but I also think it’s important to prevent that from happening.

How can you reclaim more of your time to spend with clients and customers, friends and family, or even getting an extra hour of sleep? Start by looking for technology that can help you simplify and streamline administrative tasks. For example, if you’re still manually creating invoices or inputting figures into spreadsheets and reconciling them by hand, know that there are many solutions out there to automate much of that work.

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Tech talk

The survey results bear out the value of implementing tech solutions. Small business owners that use technology such as smartphone apps, cloud computing, big data, accounting software, CRM software, and videoconferencing reported feeling significantly better about the health of their businesses that don’t use such technology. In fact, 32% of business owners that report their companies are in good health feel they are ahead of the technology curve.

In comparison, just 25% of small business owners overall say they are ahead of the technology curve. The majority (61%) believe their technology use is in line with that of their competitors. However, 12% admit they feel behind the curve when it comes to using new technology.

A majority (61%) of small business owners report being in line with other companies’ technology use, but 12% report feeling behind when it comes to adapting to new technology.

So what types of technology tools are small business owners in the survey employing? Here’s the rundown:

Cloud-based services: 53%
Smartphone apps: 51%
Videoconferencing: 34%
Customer relationship management (CRM) systems: 31%

Hire purpose

Will small business owners be increasing their payroll in the coming months? Good news for job hunters: Approximately one in three small business owners expect to increase their headcount this year (tied for the highest in the Index’s history). Overall, 32% of all businesses in the survey expect to hire. The largest businesses are even more likely to be growing their headcount (61% expect to do so).

How are you doing?

One thing that impressed me about these business owners: They have a good handle on how their companies are doing, and a sense of when they aren’t doing so well. A whopping 87% of entrepreneurs in the survey say they have clear metrics in place to indicate when their business is struggling.

If they do find their business struggling, 86% say they have a clear idea for how they can pivot to get their company back on track. In addition, 81% have created a business plan for adapting to a changing economy. Since change is the one constant in business, that’s a smart move.

The small business owners in the Index sound incredibly well prepared. No wonder they have such a strong sense of confidence: They’re in the perfect position to steer their businesses to success.

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8 Popular Office Perks That Aren’t Worth the Investment

Everyone wants to work in an environment that is supportive of their wants and needs. However, many companies have set a standard where the perks make work seem more like a clubhouse than a work environment. Some perks can even become distractions, especially if they’re not wanted or usable.

To find out which perks employers should reconsider offering their workers, we asked members of the Young Entrepreneur Council the following question:

Q. Work perks are wonderful for drawing in talented staff, but not every perk is worth the investment. Which perk should be dropped, and why is it a waste of time or resources?

1. Happy hour

A wasteful perk is probably free booze. By the time Friday happy hour hits, I respect anyone who wants to head out the door and enjoy their weekend. On top of that, a number of employees tend to think, “I have beer at home,” or similar objections. Save the money, promote safe commutes, and skip the workplace happy hour. —Zev Herman, Superior Lighting

2. Unneeded perks

When evaluating perks to offer, open communication with your team is key. You need honest input for an accurate cost-benefit analysis of what to offer. If most folks don’t drive, don’t worry about parking; if your team isn’t much for drinking, substitute a catered lunch for happy hour. Don’t worry about trends or fads (goodbye unused pool table) and give your team perks they actually want. —Ryan Wilson, FiveFifty

3. Free food

Free food is not a great perk: It’s expensive, perishable, and becomes expected. It’s also something that can divide people, not bring them together. Consider that people have different likes and dislikes, and some people have allergies, etc. It’s much better to do something specific with a goal, like a team lunch for the purposes of a birthday or welcoming a new team member. This takes the focus off the food and onto the team. It’s better than having food available at all times. —Baruch Labunski, Rank Secure

4. Office toys

Having a “fun” office is cool, but the novelty wears off and the money spent on those toys is wasted. If someone on my staff needs a break, I advocate going for a walk. Fresh air clears the mind and doesn’t cost us a dime. —Colbey Pfund, LFNT Distribution

5. Unlimited vacation

Don’t offer your employees unlimited vacation, because everyone knows such a thing is not possible in reality. By giving a vague promise, you will confuse your team, and even stress them out when it’s time for their vacation, as they’ll start thinking things like, “I wonder how much is too much?” Instead, give a generous amount of flexible vacation time, with clear numbers. —Turgay Birand, EditionGuard

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6. Nap room

If your employees are so tired that they are often using the nap room, then there could be a problem with the flexibility of their schedules. If work allows, let them work the hours they want, instead of mandating a strict 9-to-5 schedule. This flexibility will set you apart and help retain some of your top contributors. —Chris Christoff, MonsterInsights

7. Too many team-building and social activities

It’s fine to have holiday parties and occasional events for team-building, but some companies overdo it. If employees feel pressured to attend these events, it will have the opposite effect of your intention. If your team is working hard, they also need some downtime, which means being away from the office. You don’t have to be a social director; most people would prefer to plan their own free time. —Kalin Kassabov, ProTexting

8. Anything that’s offered for too long

Perks are really only interesting to employees these days if they change often. When the same perks are offered all the time, employees start to regard them as things they are entitled to, rather than the reward they are supposed to be. We rotate ours, and the idea of “limited time only” really motivates our employees to work to win them. —Vanessa Nornberg, Metal Mafia

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6 Powerful Ways to Diversify Your Income as a Business Coach

If you’re a business coach, you probably make the lion’s share of your money from one-on-one or team coaching. And while that’s a hugely rewarding way to make money, it can also be precarious.

You need to be constantly finding new clients to ensure that your revenue stream doesn’t dry up. And if you’re doing your job correctly, you’re actually moving your clients toward not needing your services, which puts you in a bind.

If you want to survive and thrive as a coach, you need to create additional streams of income. In fact, this is how the most successful coaches have the biggest impact. Think of someone like Tony Robbins, who makes money from his retreats, books, courses, videos, and a host of other things. His ability to diversify has created an enormous amount of wealth and allowed him to impact millions of people.

So what are some simple, yet powerful ways to diversify your income?

1. Book sales

Writing a book accomplishes several things. First, and perhaps most importantly, it establishes your expertise in a particular area, which can open up a host of other opportunities.

Greg McKeown wrote Essentialism and is now one of the most sought-after speakers in the world of personal development; Jim Collins wrote Good to Great and is one of the most respected individuals in the world of corporate success. Writing a book can open dozens of doors.

Additionally, book sales can significantly increase your income. Even if you just self-publish a book on Amazon, it can create a healthy amount of income every month.

2. Speaking

Many companies have large budgets for keynote speakers, and if you are able to establish yourself as an expert, you can become one of those highly paid speakers. Depending on the size of the event, your fee may range from several hundred dollars all the way into the 5 and 6 figures.

3. Training seminars

Training seminars are an outstanding way to make a sizable amount of money in a relatively short amount of time. Because you are teaching a large amount of information, you can charge a relatively high amount per person. The more people in attendance, the more profit you make. Yes, there are preparation costs and a need for space, but typically these can be obtained at a decent price that will leave plenty of margin for you.

4. Online training

More and more of the best coaches in the world are creating online training programs. These programs often include video, audio, worksheets, and a variety of other materials. And because these resources are perpetually available online, you don’t have to think about scheduling, renting space, or any other logistics—you simply have to find a way to make them available to people.

For example, marketing guru Seth Godin offers an online training program, which generates a large amount of passive income for him; Michael Hyatt offers numerous training programs on everything from writing a book to goal setting.

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5. Hourly consulting

In addition to having regular clients, you can also make yourself available for hourly consulting. A client may not need to meet with you consistently, but they may want to pick your brain for a few hours on a particular subject. Depending on your expertise level, you can charge quite a bit for this consulting. Some specialists charge hundreds of dollars per hour.

6. Affiliate marketing

You have to be careful with this one, in that you don’t want to recommend resources to people that you don’t believe in. However, if you truly believe in a product or service, you may want to look into whether they have an affiliate program.

If they do, you can make a small amount of money every time someone purchases a product through your recommendation. For example, if you’re a marketing coach, you can get paid every time someone purchases Leadpages through your link; or if you’re an SEO expert, products like SEMrush and Ahrefs have affiliate programs.

Diversify or die

The best way for you to thrive as a coach is to branch out. Create as many income streams as possible; leverage your skills in a variety of ways.

Coaching isn’t different than any other business. If you rely on a single income source, you’ll be affected every time that source dry up. The best companies and leaders know that there is safety in numbers. The more income streams they have, the less volatility they face.

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Wells Fargo Propel Gets an Extreme — and Valuable — Makeover

Friday, June 22, 2018

3 Money Tasks You Shouldn’t Tackle on Your Own

Save on Granite Countertops and Rock Your Remodel

What’s Next for America’s Small Business Owners?

Positive outlook

Faith in the future

Working hard

Even small business owners who describe their companies as being in poor health report working 10.25 hours a day.

Other Articles From AllBusiness.com:

Tech talk

A majority (61%) of small business owners report being in line with other companies’ technology use, but 12% report feeling behind when it comes to adapting to new technology.

So what types of technology tools are small business owners in the survey employing? Here’s the rundown:

Cloud-based services: 53%
Smartphone apps: 51%
Videoconferencing: 34%
Customer relationship management (CRM) systems: 31%

Hire purpose

How are you doing?

The small business owners in the Index sound incredibly well prepared. No wonder they have such a strong sense of confidence: They’re in the perfect position to steer their businesses to success.

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7 Easy Ways to Introduce Yourself to an Influencer—And Get Noticed!

Influencer marketing is growing in popularity, and for good reason. It’s estimated that influencer marketing content yields an ROI that’s 11 times higher than other, traditional forms of digital marketing, according to TapInfluence. If you can get your content in the hands of an influencer, or work with an influencer on a key piece of content, your content’s popularity can skyrocket in short order.

The problem for most marketers isn’t an understanding of the strategy or willingness to pursue it, but rather the limitations in connecting with influencers. After all, with a strong reputation and a thriving audience, most influencers are too busy or too inundated with other requests to notice you.

Fortunately, there are some simple ways you can introduce yourself to an influencer—and hopefully get noticed.

1. Cite them (and tell them about it)

Strong pieces of content link out to other authoritative sources to back up the points they’re making, cite statistics, or otherwise suggest further reading. One way to introduce yourself to an influencer is to cite one of their pieces in an upcoming article of your own. When you’re finished, let them know about it, and thank them for their contribution. It’s flattering for the influencer, sincere, and open-ended. At worst, you won’t get a response; at best, your target influencer will share your work with their own audience.

2. Respond to their questions

Influencers often ask questions of their audience, whether it’s an open-ended poll to figure out what types of content they want to see, a lead to a discussion on one of their main topics, or a friendly invitation for discussion. These are open opportunities to get noticed and be a part of the influencer’s community. You won’t be accused of breaching conduct or being rude, and you’ll have a chance to get to know their audience better.

3. Engage them in a discussion

You could skip the question process and engage them in conversation directly, especially if they seem open to outside opinions and feedback. You can usually find opportunities here if the influencer frequently gets involved in public discussions. Search for hashtags relevant to their niche, follow brands that are important to them, and watch for their responses to ongoing threads on social media.

4. Comment on their work

As I implied in the first point, one of the best ways to get noticed initially is through flattery. You can forgo the citation route if you find a piece of their work that you like and comment on it, whether positively or inquisitively. Compliment something specific you like about their work; they’ll likely accept the comment gracefully. Just be careful not to segue from a compliment to a request for a favor or advice. Doing so could easily compromise their perception of your sincerity.

5. Share their work

Social media users love to get shares, and influencers aren’t any different—even if they get shares regularly or already have a large audience. Pick some work of theirs and share it to your own audience; it shows that you’re interested in their work, and counts as a small favor to them at the same time.

This is especially effective when done regularly over the course of several weeks and months, proving your loyalty and attention, and making your name more recognizable. Again, just try not to go overboard here. If you share everything they post, you could come off as more annoying than sincere.

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6. Ask them a question

I already mentioned the possibility of answering a question posed by an influencer, but you can also turn the tables and ask them one of your own. If you already have an established following, this strategy is even more effective; they’ll acknowledge your own authority on the subject and may take your inquiry more seriously.

In any case, put some thought into your question, and make it open-ended. Instead of asking, “Do you like [X new technology]?” ask, “What do you think about [X new technology’s] effect on sales in our industry?” Make sure you’ve done your research in advance, in case it leads to a conversation.

7. Say hello

You can also introduce yourself to influencers the same way you’d introduce yourself to anyone else—simply say hello. The bigger and more noteworthy an influencer is, the less likely this tactic is going to work, but it’s still worth a shot. If you live in the same area, you can try to attend industry conferences or their guest speaking gigs to increase your chances of meeting in real life.

Building recognition—it takes time

Depending on who you’re targeting, you might not get noticed on your first pass. But if you use a few of these strategies in succession (remaining polite, of course), you may gradually work your way into your target influencer’s circle. Integrate yourself into the influencer’s audience, and prove your value gradually. In time, you’ll build a reputation for yourself—especially if you build your reputation in other ways simultaneously.

Once you’ve been recognized and, on some level, appreciated by an influencer, you can move to make the real ask. That might be collaborating on a piece of content, contributing to an interview, or even sharing a piece of your content. When you make the ask, be polite, and make sure there’s an exchange of value; the last thing you want to do is waste the influencer’s time or come off like you’re exploiting them.

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Friday, June 29, 2018

First steps

Who can you ask?

How to ask so they say yes?

Why photography matters

How to get high-quality photography

What is your top tip for maintaining a healthy work-life balance while running a business out of your home?

1. Focus on priorities, maintain harmony

2. Don’t let your calendar hustle you

3. Run your business; don’t let it run you

4. Keep tech away from the bedroom

5. Make space and get out

6. Block time for yourself

7. Set boundaries

8. Manage and delegate

9. Practice mindfulness

10. Take that lunch outside

11. Give yourself some structure

1. Know your customers

2. Understand SEO

3. Establish thought leadership

4. Build relationships

5. Make it shareable

6. Master social media

7. Be consistent

What is your top tip for maintaining a healthy work-life balance while running a business out of your home?

1. Focus on priorities, maintain harmony

2. Don’t let your calendar hustle you

3. Run your business; don’t let it run you

4. Keep tech away from the bedroom

5. Make space and get out

6. Block time for yourself

7. Set boundaries

8. Manage and delegate

9. Practice mindfulness

10. Take that lunch outside

11. Give yourself some structure

How to do a balance sheet

1. Assets

2. Liabilities

3. Owner’s equity

What to pay attention to on your balance sheet

What can you learn from a balance sheet?

What’s your business worth?

Thursday, June 28, 2018

Wednesday, June 27, 2018

Tuesday, June 26, 2018

Monday, June 25, 2018

A Review of Your Personal Credit History—and Business Credit (If You Have It)

A Deep Dive Into Your Business (and Maybe Personal) Financials

A Thorough Assessment of Your Business Case

A Vetting Process—and a Lot of Paperwork

A Business Loan Can Get You on a Path to Growth

Positive outlook

Faith in the future

Working hard

Tech talk

Hire purpose

How are you doing?

Q. Work perks are wonderful for drawing in talented staff, but not every perk is worth the investment. Which perk should be dropped, and why is it a waste of time or resources?

1. Happy hour

2. Unneeded perks

3. Free food

4. Office toys

5. Unlimited vacation

6. Nap room

7. Too many team-building and social activities

8. Anything that’s offered for too long

1. Book sales

2. Speaking

3. Training seminars

4. Online training

5. Hourly consulting

6. Affiliate marketing

Diversify or die

Friday, June 22, 2018

Positive outlook

Faith in the future

Working hard

Tech talk