Home Wealth Project
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
7 Gmail Tips Every SMB Should Know
Feb 2nd
So many of us in the small business community rely on Gmail as our default email provider, and with good reason! We use Google because it comes at a price point we love (often free) and it integrates with other applications that we use on a daily basis – like our calendar and To Do list. If you’re a small business using Gmail to manage your email and your customer relations, why not make sure you’re getting the most out of it that you can?
To help you do just that, below are seven tips for how to use Gmail smarter. Because if you think Gmail is great on its own, you don’t even want to know how powerful it is once you supercharge it.
1. Get a Gmail account at your own domain with Google Apps: Just because you like the simplicity of relying on Google for email doesn’t mean you want @gmail.com to append your email address. You know that customers will trust your business more if they see you have a branded email account connected to your business. They’re looking for that name@yourdomain.com in order to trust your business and that you’re a “real” company. And you don’t have to sacrifice this important authority metric just to use Google. You just have to become a Google Apps users. For five dollars (per email address) a month, small business owners can become a Google Apps users andCanned Responses comes into play. By turning on Canned Responses it gives you the ability to write your message once, save it, and then use it based off certain keywords in your message.
2. Juggle multiple email accounts from one interface: You probably don’t have just one email address. Most of us practically collect email addresses. There’s our personal email, our work email (name@domain.com), the generic company email (info@domain.com), and other email addresses we use for other purposes. But just because you have five different emails doesn’t mean you have the time to be logging in and out of accounts all day. By setting up Mail Fetcher in Gmail, you can download messages from up to five other accounts in one interface to help you centralize all of your email. This way you’re spending your time answering it instead of trying to access it.
3. Use Labels: SMBs can use labels to help organize their inbox and keep them on task. To create a label, select the message you want the label to apply to, hit the Label button in the toolbar (it looks like a tag), and then choose Create New. Once your label is created, you’ll be able to apply it to different messages in your inbox or even nest it under a broader category. This is really helpful in organizing your inbox. You can even then create filters to have certain messages removed from your inbox until you have the time to deal with them.
4. Use Boomerang: Boomerang is a Gmail plugin that lets you take back control of your inbox by giving you the ability to write emails now and schedule them to go out later. Want to respond to an email to get it off your plate but don’t want to have to respond when the other person tennis balls it back to you? Schedule it to go out in an hour. Or at the end of the day. Or perhaps you can’t sleep and you’re answering email at 4am. You don’t have to alert your business contacts to your raging insomnia. Write it now and then schedule it to go out at 8am when the rest of the world is awake. You can also use Boomerang to remind you to check up on people who haven’t gotten back to you or use it for link building.
5. Answer faster with canned responses: Take a look at your email right now. How many emails are waiting for you to write the same answer to the same question over and over again? If you’re like most small business owners, probably a lot. And that’s where Google’s Canned Responses comes into play. By turning on Canned Responses it gives you the ability to write your message once, save it, and then use it based off certain keywords in your message.
6. Reply by chat or video: Or why answer the email with another email at all? End the cycle and take advantage of Google’s option to reply by chat or by video.
7. Mute emails: For emails not sent directly to you (for example, if you’re part of an email group or listserv) you can mute emails that you wish not to see. Perhaps there’s an email discussion going around that you’re no longer interested in or people are all leaving their thoughts on a topic that doesn’t involve your business, by using the shortcut M, you can actually mute the thread to hide the emails so you don’t have to deal with them. It’s like magic.
Those are some ways that I supercharge Gmail to work better. What works for you?
7 Gmail Tips Every SMB Should Know
View full post on Small Business News, Tips, Advice – Small Business Trends
Everything You Really Need to Know About Workers’ Compensation
Nov 17th
If you have employees, then I don’t need to tell you that workers’ compensation can be a nightmare if not properly managed. If you don’t have employees, please trust me: If not properly managed, workers’ compensation can be a nightmare.
Maybe the term nightmare is a little strong, but certainly a headache, and maybe even a pain in the . . . you know where I’m going. The reason workers’ compensation can be such a difficult insurance coverage to manage is that the premiums can be very dynamic.
Workers’ compensation premiums are determined through an equation based on the amount of payroll per job function within your business. Each job function is assigned a class code rate per $100 of payroll. These rates are set by the state in most states (there are also statutory states where only state-run funds can write workers’ compensation policies).
Each insurance carrier will write workers’ comp insurance through several different underwriting companies. Each underwriting company is given a different multiplier, often ranging from 0.97 to 1.50. The underwriting company chosen is based on the industry of the business and the specific insurance carrier’s appetite for that particular industry. Finally, the insurance carrier will apply to each individual business a modification factor, or “mod factor,” based on that business’s unique loss history.
Got all that? Don’t sweat it if you’re confused. Here’s what you actually need to know:
Problem #1: Your premiums are based on estimated payroll that is audited on a regular basis by either your insurance carrier or your state workers’ compensation fund.
- It is of the utmost importance that your payroll figures are as accurate as possible, as this is the basis for your premium.
- If you short your payroll estimates at the beginning of a policy term, you will have to pay the premium shortfall at audit time. In most states, if you don’t pay the balance owed after an audit within 60 days your business gets a Stop Work order. Not good!
Solution: Contact your insurance professional for a “pay-as-you-go” solution run through a payroll service or the insurance carrier. This drastically reduces the chance of shorting your payroll, as figures are updated on a weekly or monthly basis.
Problem #2: Because carriers use different underwriting companies, rates can vary significantly from carrier to carrier even though your job class code rate is set by the state workers’ compensation fund.
- Every insurance carrier has a unique appetite for certain types of business. Find a carrier that is looking to write business in your industry and you will most likely find the most competitive rate.
Solution: Work with an insurance professional who specializes in or at least has experience in your particular industry of business. When it comes to workers’ comp ,an intimate knowledge of the available markets can mean dollars in your pocket.
Problem #3: Your loss experience can play a major role in the premiums you pay. Mod factors can range from 0.80 to 1.50 or more depending on how good or bad your loss experience has been.
- This means that you need to look at risk management as more than just a sexy job title. Take the time to implement procedures in your business that limit exposure to employee injury.
Solution: Encourage healthy living. In general, healthy, fit employees are less likely to get injured. Additionally, do not set yourself up for failure. Try to assign employees to tasks that they can physically handle. Always provide training and continually update employees on the latest safety procedures. A little bit of preparation can mean serious savings when it comes to your mod factor.
Get Professional Help
Are you feeling a little bit better about workers’ compensation now? No? Listen, accidents happen–that’s what workers’ compensation insurance is for. But there is hope for your budgetary concerns. Use the advice I suggested above and contact your insurance professional.
Trust me, if you tell your insurance professional you’re willing to implement risk management practices, he or she will bend over backward to help you.
Good luck and stay safe.
Everything You Really Need to Know About Workers’ Compensation
View full post on Small Business News, Tips, Advice – Small Business Trends
What do you do when you don’t know the answer?
Nov 6th
“Nothing” is the most common response.
Do nothing until you do know the answer. Study and practice and wait for approval and then do something.
Which is fine (for a surgeon) but what happens most of the time? Most of the time there’s something that needs to be done where the answer is unknowable until you do it…
That’s what we’re waiting for you to do.
View full post on Seth’s Blog
3 Things to Know About Virtual Assistants So You Don’t Have a Virtual Mess
Oct 24th
I have been on the ground floor of three startups, and the number-one position that I often suggest small business owners fill as soon as possible is a highly skilled assistant who is passionate about their business. You can’t do everything by yourself. And before you hire your entire family, consider death. If every position in your business is filled by somebody in your family, then what happens when Grandma dies and the entire clan needs to disappear and recover for a few days? Life happens.
You can call a temp service, but in the final analysis that’s nothing more than a glorified answering machine. They won’t have time to learn your business and will be left taking messages, not solving problems.
However, an assistant who has been on the team can help you move forward in quite a few areas. Plus, with a virtual assistant you are not limited by geography or time zones.
A Few Things a Virtual Assistant Can Do
You carry the vision. You are not looking for your virtual assistant to brainstorm your business for you. It’s up to you to judge your next best move based on educated suggestions from your team. But your virtual assistant can help you execute these moves.
Take marketing, for example. Once you decide that it’s vital to your business and that you want to put some time and money into your online presence, then your assistant can oversee your online marketing efforts. This may include consistent tweets, growing your Facebook page and engaging fans, and creating a blog filled with helpful articles.
Your virtual assistant can book your travel, schedule your meetings, and collect research for an upcoming speech. The list is endless once you get over the initial belief that you need to do everything yourself.
A Few Things to Consider When Hiring a Virtual Assistant
There are some legitimate concerns when it comes to virtual assistants. Do you need someone who can do everything or a person with specialized skills? Should you hire a team or an individual? And how to navigate this virtual relationship, so that it doesn’t break when they — or you — move on?
Specialized Skills vs. a Jack of all Trades
Consider hiring people to do what they do best. Instead of a general assistant, get someone who uses social media to do your social media. Get someone who specializes in design to complete design work for you. And add a generalist as your point of contact with the entire team as well as to handle research and traditional administrative tasks.
A Team vs. an Individual
Consider hiring a team instead of an individual. If a member of your virtual assistant team gets sick, then your company doesn’t stop moving forward, because another member of the team can pick up the slack.
Systems vs. Shooting From the Hip
Systems protect your business and your bottom line. Give clear, documented instructions and save them for ongoing use. As your team grows or changes you changes you can simply forward the instructions to the new team member.
I Need Help!
Building a team is the a core step to freedom inside your business. If you decide that you are ready for an assistant, then be sure to check out T.J. McCue’s list of virtual assistant outsourcing sites.
Image from auremar/Shutterstock
3 Things to Know About Virtual Assistants So You Don’t Have a Virtual Mess
View full post on Small Business News, Tips, Advice – Small Business Trends
Everything You Want To Know About How To Compost Everything
Sep 30th
A plain English guide to helping you make your own decisions about composting – what system to choose, what you really can put in rather than what they tell you can be put in the compost!
Everything You Want To Know About How To Compost Everything
You Arent Supposed To Know
Sep 29th
A Book of Secrets – Read Minds, Boost Iq, Save and Make Money, Subliminally Influence Others, Find Treasure, and More.
You Arent Supposed To Know
Who else wants to know a drug free healing method?
Aug 31st
Its pretty sick to be on medication, isnt it? What will you say if Mother Nature can offer you a drug free solution? Find out in www.crystalsbay.net as we bring the healing power of crystals and aromatherapy to you right in the comfort of your room.
Who else wants to know a drug free healing method?
Small Business Tips From Those Who Know
Aug 11th
Isn’t it refreshing to hear some simple old down to earth small business advice from the people who know? We think so too! That’s why we’ve put together this collection of no nonsense tips from people who have walked the walk. Hope you find them helpful. Enjoy!
Reputation Management
Putting faith into your marketing. Does showing your religious conviction or faith into the marketing of your business help you connect with others or send a message about your values. A variety of surveyed business owners give their perspective and point of view on a topic off the beaten path. You’re the Boss
How much does you reputation matter? Whether in the hotel industry or in any hospitality management or tourist industry, reputation is certainly an important factor. In this interview, hospitality industry expert Daniel Edward Craig talks a bit more about what reputation management means. Is reputation important in your business? Are Morch Blog
Self-development
Why franchises and entrepreneurship don’t mix. Do you consider franchise ownership and entrepreneurship synonymous? Joel Libava doesn’t but is perfectly aware that other experts disagree. Before you immerse yourself in your next franchise venture, hear the pros and cons to see whether franchising is the right fit for you. Open Forum
Making it easier for the customer to buy. What if the main person in the way of your business selling more stuff and making more money is you? What if it’s your point of view, your way of doing things and your approach that’s really getting in the way of closing more deals for your business? Partners In Excellence
Finance
Crowdsourcing as a funding option. Entrepreneurs and small business people have traditionally looked at a whole variety of options when it comes to funding their business. But nowadays an unusual new option has appeared. What is crowdsourcing, how does it work and could it be the right option for your business? Open Forum
Making the call, taking the call. How do you decide what business to take and what to leave alone when your business changes. It could be a more complicated decision than you think when it’s time to choose between customers that have always been there and those who are a part of a growing new trend. You’re The Boss
Sales
Tips for selling B2B. If it’s an industry you know, B2B can offer a great market and the potential for customer who come back again and again. But making that initial contact can also be critically important. A few tips will help you make the call that leads to a strong and long-term relationship. Step By Step Marketing
How to handle the cost question. If you haven’t heard it yet, you undoubtedly will, the comment that your product or service costs too much. Is it an attempt to negotiate for a lower price or an excuse to get out of something the customer or client doesn’t want any way? The Leaper’s Blog
Organization
Avoiding a nasty partnership divorce. Looking for partners is a tricky business. Clear and honest communication is key. Like in any other relationship, it’s important to define what you want and expect. Making assumptions or failure to spell out responsibilities will only lead to trouble. Scott Fox
Desiging the perfect business. Yes, we know the dangers of using that word, but, look, if you’re in business for yourself, why not create the one you want? It’s easier than you think if you apply the proper planning. The interview at the end of this link should get the creative juices flowing. The Rise To The Top
Small Business Tips From Those Who Know
View full post on Small Business News, Tips, Advice – Small Business Trends
Are You Operating Your Business in Multiple States? What You Need to Know
Jul 21st
As a small business owner, it can sometimes feel like you’re expected to be an expert in tax and state law. One common area of confusion and misconception is conducting business in multiple states. By law, if your company plans to conduct business in any other states than your state of incorporation (or LLC formation), then you may need to register your business in those states. This process is called foreign qualification.
For example…
- You have a restaurant in Florida and decide to expand into Georgia and South Carolina. Once you have locations open in those states, you’re doing business there and will need to file a foreign qualification in both Georgia and South Carolina.
- You incorporated your business as a Delaware LLC, but are physically located in New York. You’ll need to file a foreign qualification to conduct business in New York. (For this reason, it’s often best for small companies with fewer than five shareholders to incorporate in their home state.)
- You live in Washington and your business partner lives in California. You incorporated your company in Washington, but recently your partner has been finding and meeting with the bulk of your clients near his home in California. You’ll need to file a foreign qualification in California.
- You’re a consultant who performs the majority of your work online, with clients in multiple states. In this case, you do not need to file a foreign qualification. Just because you’re making money from clients in other states doesn’t mean you’re transacting business there, according to the law.
What is meant by “doing business?”
In today’s mobile/virtual world, it can be difficult to know just what constitutes doing business in a state. If you’re uncertain whether your particular business needs to foreign qualify, you should check with your attorney or accountant. However, here are some general questions to answer:
- Does your LLC or corporation operate out of any physical presence in the state (i.e. office or retail store)?
- Are you frequently conducting in-person meeting with clients in the state (and not just conducting business via email/phone)?
- Does a significant portion of your company’s revenue come from the state?
- Do any of your employees work in the state? Do you pay state payroll taxes?
- Did you apply for a business license in the state?
If you answered yes to any of these, your business may need to file a foreign qualification in the appropriate state.
What is a foreign qualification?
To register your company in another state, you will need to submit a Certificate of Authority application (sometimes it’s called a Statement & Designation by a Foreign Corporation) with the particular state’s Secretary of State office. You can download the form from the Secretary of State’s website or have your incorporating company handle the filing and requirements for you. Some states will require you to have a certificate of good standing from the state where your LLC/corporation was formed (which means you’ll need to be up to date on your state taxes, fees, etc.).
Why is a foreign qualification important?
Foreign qualifying your company in states where you conduct business is your legal obligation. Failing to properly register your company could result in:
- Fines and interest for any time when you were not foreign qualified (in addition to paying the standard fees that should have been paid)
- Liability for back taxes for the time when you were not foreign qualified
- Inability to sue in a state where you are not registered
You’ll want to foreign qualify in as few of states as possible. After all, with each foreign qualification comes filing and/or annual fees, additional laws to learn, and added paperwork. However, you simply can’t overlook your business’s legal requirement to foreign qualify; it could end up costing you much more in the long run.
Are You Operating Your Business in Multiple States? What You Need to Know
View full post on Small Business News, Tips, Advice – Small Business Trends
5 Hot Industries Every Small Business Owner Should Know About
Jun 29th
Want to know what industries are heating up? Industry analyst IBISWorld just released its picks for the 5 hottest startup industries for the next five years. The company analyzed revenues, growth trends and profitability levels of more than 700 industries to determine which ones are best poised to grow.
Even if you are already in business, knowing which industries are in growth mode can give you ideas for new products, services or partnerships that could help your business expand. Here are IBISWorld’s picks:
- Testing and Educational Support: High school graduates are going on to college, college students are clinging to their college years instead of facing the tough job market, and laid-off employees are heading back to school. All this bodes well for testing and education businesses. IBISWorld reports that the industry grew at an average annual rate of 6.2 percent to $15.4 billion over the five years up to 2011, and that level of growth is projected to continue over the next five years, with revenue increasing an average of 5.5 percent per year to reach $19.1 billion in 2016. Trade and technical schools, business coaching and employment recruiting are all related industries with similarly positive outlooks.
- Internet and Technology: No surprise here, but growth in broadband access and the increasing ubiquity of technological devices in our daily lives are driving demand for technology. For entrepreneurs, IBISWorld suggests two opposite paths of opportunity: you can create a highly innovative startup that has a big idea and sufficient capital, or you can provide services to help businesses with their technology needs. Since all kinds of businesses are moving online today, the latter area is rife with opportunity. IT consulting, logistics and order fulfillment, online lead generation, data-mining consulting and online payment processing are some of the services your business can provide.
- Green: Despite the recession, green products and services continue to thrive. Consumers are paying for eco-friendly products and services from clothing to housecleaning, but some of the biggest opportunities are on the business-to-business side. Green consultants who help businesses shrink their carbon footprints are poised to grow, as new regulations will increase the need for experts to advise businesses. In fact, IBISWorld projects the environmental consulting industry will grow 9.4 percent per year to $30.0 billion by 2016. Another growth industry: providing remediation and environmental cleanup services, such as removing hazardous waste or cleaning up wastewater.
- Residential and Commercial Construction: IBISWorld says this industry is ready to bounce back from the recession; the report projects the value of residential construction will rise 12.5 percent annually in the five years to 2016 and the value of private non- residential construction will rise by about 13.0 percent annually during that time. In addition to increased demand for contractors, there will be a need for specialty subcontractors such as drywall and glass contractors or architectural and building inspection services. And over the five years to 2016, IBISWorld estimates revenues for the home building industry will grow 16 percent per year to $394.1 billion.
- Health: Alternative providers, such as acupuncturists, masseuses and yoga instructors, will be a growth industry in the coming years. These treatments were already gaining wider acceptance among the public (and health insurance companies) even before last year’s health insurance reform law added provisions to increase support for alternative treatments. The industry’s revenue is forecast to grow by 4.3 percent annually for the next five years, reaching $14.4 billion by 2016. Other industries that will grow thanks to healthcare reform and the aging of America include home care providers, elderly and disabled services and physical therapists.
How could your business take advantage of these trends?
For more about IBISWorld and other industry reports, visit the IBISWorld website.
5 Hot Industries Every Small Business Owner Should Know About
View full post on Small Business News, Tips, Advice – Small Business Trends
