5 Principles to Follow when Buying Business

January 27, 2013


There are few decisions in life that are as important as buying business. Think about it! You are getting ready to bet your life savings on it. Not only that, but you are betting your future on it too. The decision not only affects you, but everyone around you, especially your family and friends. You will pay the price for any mistake you make at this point for a long time.
It is easy to make wrong decisions during the buying process, particularly after you become too involved, and get frustrated by the slow pace of progress. You just want to get it done and start working on the future rather than continue “wasting” your time. This is when you are likely to make wrong decisions and regret them afterwards. I always like to lay out few principles that I can go back to when this type of situation arises, so that I can keep myself in the check. The 5 mantras I have described below are meant to guide potential buyer during the buying process and help make the right decision.
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Filed Under: Buyers Tagged With: ,

You CAN Handle The Truth: Five Legal Myths Small Business Owners Should Avoid

January 19, 2013

We’ve all dreamt about standing up in front of a packed courtroom and shouting the words, “You can’t handle the truth!” But when it comes time to protecting our small businesses and our personal assets, reenacting A Few Good Men won’t get us very far.

There are several legal myths that small business owners commonly believe in. These myths aren’t only dangerous to our companies, but they can be dangerous to our personal livelihoods. Take a look at the five legal myths below to make sure your company isn’t sinking into hot water.
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Filed Under: Management Tagged With:

Under Promise, Over Deliver – Key to Business Success

January 12, 2013


Do you remember the time when you were pleasantly surprised to get more than you had expected from a business? How about the time when you were annoyed when you didn’t get what business had promised? It’s interesting how we remember outcomes that have turned out better than or worse than our expectations, but not the ones that came out as promised! Businesses who understand this simple fact stand to benefit by delighting their customers. This is the commonly known principle of “Under Promise and Over Deliver”.
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Filed Under: Customers Tagged With: ,

Top 10 Blog Articles from 2012

January 5, 2013


As we herald into 2013 I thought it would be worthwhile to revisit the stories we produced in 2012 and the response we received from the readers. Here are the top 10 articles, in no particular order that got the most attention, discussion, controversy and response.
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Filed Under: Employees, Finance, Management, Marketing, Operations, Sales, Strategy, Technology, Uncategorized Tagged With: , , , , ,

9 Tips for Protecting Your Business from Outrageous Personal Injury Claims

December 29, 2012

Personal injury attorneys and legal referral lines advertise everywhere from benches at bus stops to the radio, television, newspaper and Internet. Apparently there’s big money in getting injured! Although some personal injury claims are legitimate and their subsequent lawsuits justified, others are simply born out of greed. Why? Unfortunately, for too many people, the thought of earning an easy buck by suing someone for an injury that may or may not exist is more attractive than actually working to earn that dollar.

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Filed Under: Management Tagged With: ,

What Yelp Business Listing can Do for Your Restaurant

December 23, 2012

Some restaurants are still unsure as to whether or not they want to claim their business on Yelp, the popular review site. They don’t feel like they need to pay attention to the review site while others don’t see the benefit that a review site can bring to their establishment, but a Yelp business listing can bring many advantages to your company, including the following.
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Filed Under: Customers, Marketing Tagged With: , , ,

Want to Improve Sales and Customer Retention? Keep your Promises

December 15, 2012


The formula for success in small business is very simple – keep the promises you make to your customers. The relationship between customers and business owner is like an unwritten contract. Both parties expect the other to honor their side of the contract. In it, the business owner promises to sell his products or services at the advertised price with the best possible customer service. In return, the customer promises to keep giving business to you as long as you keep your side of the bargain.
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Filed Under: Customers, Marketing Tagged With: ,

The 10 Best and Worst States for Small Business

December 8, 2012

Thinking of starting a small business? Our infographic breaks down the best and worst states for business by real change in GDP, top level state income tax, and number of INC 5000 businesses. Whether you’re starting a web firm or a traditional brick and mortar business, this infographic provides highly-useful information with regard to the incorporation decision process. Local economic climates and state taxes can be a heavy burden on web startups and other small businesses. Making the right decision can save you thousands of dollars in the end; it did for us.

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Filed Under: Management, Strategy Tagged With: ,

Why 8A certification is crucial for your business?

November 30, 2012


If you are looking for better options to enhance your business prospects and widen your commercial growth, then opting for federal schedule contracts can be the ideal opportunity for you. To opt for federal contracts and get benefited, your business must have an 8A certification.
Enrolling in the 8A programs will open the doors for a number of marketing avenues and a plethora of opportunities for you. If your business is lagging behind due to social or economical disadvantage, getting an 8A certification will rank you high among your competitors by providing you with the option to bid for federal contracts. If you are potential entrepreneur and trying to make your mark in the business world, SBA certification is the first step towards your success.
Following are the briefly discussed points, which throw light on the essence of 8A certification and explain the reason for its imperativeness in business:
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Filed Under: Sales Tagged With: ,

Do you know about IRS form 1099K?

November 25, 2012


Come January, the festive season will be over and will soon be followed by the tax season. Small business owners will start sending and receiving form 1099’s showing the money paid and received for the services they rendered in the year 2012. One of the newer forms that IRS has introduced is 1099K starting in 2011. Sellers of items on E-commerce sites such as eBay and Etsy, that include many home-based merchants, are the typical recipients of this form. Many of them were caught by surprise last year upon receiving this form. There was also lot of confusion surrounding the form resulting from the instructions provided by IRS on this form (What else did you expect from IRS?)
So what is form 1099K and what does it include?
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Filed Under: Finance, Management Tagged With: ,