The IRS encourages all businesses and business owners to know the rules when it comes to classifying a worker as an employee or an independent contractor. An employer must withhold income taxes and pay Social Security, Medicare taxes and unemployment tax on wages paid to an employee. Employers normally do not have to withhold or pay any taxes on payments to independent contractors. Here are two key points for small business owners to keep in mind when it comes to classifying workers: 1. Control. The relationship between a worker and a business is important. If the business controls what work is accomplished and directs how it is done, it exerts behavioral control. If the business … [Read more...]
Lifelong Learning is Imperative for a Lifetime of Success
The world is ever-changing. Markets and segments evolve year after year. Expanding your mind is a key factor to your success. "An often overlooked yet simple way to improve is to increase your knowledge by being a self-starter." It is important to be an active listener so you can be a lifetime learner. Check out this article on Entrepreneur’s website to learn why we should all strive to be lifelong learners. … [Read more...]
10 Easy Solutions to Business Writing Problems
Never underestimate the importance of good writing. Especially in the world of digital business, it is often your only “voice.” If your first email to a potential customer is dull, confusing, and riddled with grammatical errors, you will likely lose the customer. If a memo to employees is unclear, you may end up with confused workers and incorrectly done work. 10 Easy Solutions to Business Writing Problems out of Entrepreneur Magazine gives some simple tips, tricks, and troubleshooting solutions to help you in your writing. I’ve given you the top three here: Use strong verbs- weak verbs make writing look dull Avoid pretentious or confusing words- keep the words short and … [Read more...]
4 Questions to Ask Before Taking the Entrepreneurial Plunge
According to Bloomberg, 80% of new businesses fail. This is certainly something to ponder. You need to know if you’re prepared for what you’re getting into before you considering jumping off as an entrepreneur. Entrepreneur magazine suggests you ask yourself these four essential questions so you can set yourself up for success: Are you comfortable with absolutely zero structure? Entrepreneurship is chaotic! Do you have financial stability? It can take a long time for your new business to start making you money. Are you entering new territory? Don’t get in over your head! Start in a field in which you’re familiar. Do you change jobs every two … [Read more...]
How to Create Your First Marketing Plan
Starting up a business is a big challenge. You can easily get wrapped up in the day-to-day frenzy. Don’t forget, long-term success requires a long-term plan. How do you make sure you’re staying focused on long-term goals, as well as short-term work? First step, create a marketing plan. This great article from Business Owner's Playbook gives you a roadmap to follow as you take this important step in your journey to small business success: How to Create Your First Marketing Plan … [Read more...]
Mobile Apps That Can Help You Be A Better Business Owner
As the owner of a company, you know how important (and challenging!) it is to keep up with the daily merry-go-round of running a business: overseeing projects, managing budgets, and communicating with employees. Often you find yourself having to do all this while on the go, so what better way to organize and streamline the process than with a mobile app? Here’s an excellent article from Entrepreneur Magazine with some great app suggestions! These 8 Mobile Apps Multiply How Much You Can Get Done Every Day … [Read more...]
5 Completely Selfish (But Still Good) Reasons to Buy Local
I love sharing the articles I find on helping your small business, your startups, and your finances as an entrepreneur. But let’s not forget as small business owners to support each other, too. This article from the Denver Business Journal details how supporting local businesses not only benefits others, but yourself as well. 5 Completely Selfish (But Still Good) Reasons to Buy Local Here are three of the reasons covered: People talk, and word of mouth can grow your business Familiarity breeds trust and puts you on the inside track There’s strength in numbers Read the whole article to get all 5 reasons in-depth! Buying local isn’t just great for your community, it’s great … [Read more...]