If you are looking to start a business for the first time or already have one, then you should use the right approach to ensure you avoid common pitfalls and instead create more profits. To do this, you need to consider a few key areas. These five considerations should be at the top of the list to ensure you are as successful as possible in the early stages of your business. Legal Matters For Startups A legal entity will not only make...
Your business needs employees and contractors, but do you actually need a lawyer? Some people say you do and some say you don’t, but when it comes to legal disputes, it is always nice to have someone on your side that understands the law and how to navigate it. Here are a few reasons you may need a lawyer for your business. Creating Contracts You are going to be creating and signing a lot of contracts while running your business. From rental...
In today's day and age, the internet and connected networks have given rise to increased security risks for many businesses. If you don't use the right strategies to protect your startup, you could risk losing more than just your peace of mind. Here’s why security matters more than ever for your startup. Insurance With any kind of startup, you should think about investing in some type of business insurance. It's something you hope you never have to use. However, when you do,...
When starting a business, the difference between failure and success often lies in the resources accessed and utilized by entrepreneurs. The life of a business owner is demanding and there can never be enough hours in a day. Thankfully, there are numerous resources and tools available that can help grow businesses and ease the load of starting a business alone. Let’s take a look at a few resources you can’t forget in these beginning stages. Score with SCORE SCORE is the nation’s...
Knowing that you want to get into business is one thing, finding the right way to get started is another. There are so many different areas of business that you can focus on that it may seem overwhelming to choose from, and these careers can be some of the most lucrative ones available. Finance and business careers are expected to result in more than 745,000 jobs between 2016 and 2026 according to the U.S. Bureau of Labor Statistics (BLS). So...
White collar crime is a crime that employees commit against their employer. An attorney can help implement policies that reduce the potential for white-collar crime. Employers need to consider how white collar crime affects how they conduct business. Here are five areas for employers to consider. 1. Loss of Revenue Preventing the loss of revenue is a crucial factor. Many companies do not recover from employee theft. The cost of borrowing may be high if a lender determines that insufficient controls...
The cost of doing business is evolving. Government rules and requirements are costing more and becoming a burden to small businesses. A survey report labeled high regulation costs as a significant reason that hinders the growth of small businesses, whereas large corporations enjoy the power of lobbying. However, regulatory requirements tend to vary depending on business and industry, and it is imperative to identify your worker's compliance requirements. According to Lori Murray, the workers’ compensation system is set up so that employees who...
What You Need to Know About Starting Your Own Business After a Career Setback It’s not easy to find the silver lining in a career setback. Whether you’ve been fired, laid off, or passed over for a promotion, the sting is severe and it may seem like you’ve hit a dead end. This couldn’t be further from the truth. Going backwards on one path gives you reason to change course. Starting your own business may be the way to begin moving...
I had an interesting exchange with a partner this week regarding a project for a client. The client is a rental property owner who wants a new website. She's starting completely from scratch. So far all of her marketing has been through sites like Airbnb and VRBO, but she wants to branch out. The client has admitted that she knows very little about marketing, especially digital marketing and has so far been impressed with our team's extensive knowledge. The purpose...
Since 9/15, this blog (which primarily focuses on marketing but has a lot of other info related to business) has had near-daily posts on small business accounting, bookkeeping and tax savings for Accounting Month. These posts are intended to help business owners, business managers, small businesses and start-ups improve their accounting procedures and maximize their tax reductions. Non-marketing business advice is sometimes included on this blog because we care about seeing your business succeed and we want to provide information...
