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Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
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Oct 11th
Multiple Product Centre lets you add up to 500 extra products to your CB account that can have their own sales/landing pages, it comes complete with a dynamic affiliate tools page to make it even easier for affiliates to promote your products.
Vendors Can Save Up To $14,975 With Multiple Product Centre
5 Ways to Balance Multiple Hats in Your Business
Sep 16th
If you’re like most small business owners, your business card might bear the title CEO or principal, but you know that on any given day it could just as easily read customer service, sales associate, marketing manager, technology director, accountant…
Small business owners don’t have the luxury of passing duties off to department managers. The success of your business depends on your ability to wear all the multiple hats needed to keep the wheels of your business turning. At times, the dizzying pace needed can turn even the most capable person into an overwhelmed entrepreneur wearing too many hats.
Whether you see the diversity of responsibility as a blessing or a curse, you’ve got to set a plan for success.
1. Identify your separate responsibilities.
The first step is simply distinguishing all the varied aspects of your business that you’re currently managing. This includes both income-generating tasks (sales, business development, or whatever service you provide) as well as operational ones (accounting, customer service, etc.). Effective goal setting is key to success in any business, and you should set individual goals for each aspect of your business.
2. Make time to work on your business (not just in your business).
When you’re a small business owner, it’s all too easy to get lost in the daily grind of your business (working “in” your business) and put off strategic, long-term planning (working “on” your business). If you find yourself in this situation, you’ll need to dedicate time in your calendar each week to consider your business and market trends, think about potential opportunities and do some long-term positioning. Stay disciplined: You’d never put off a meeting with an important client, so don’t flake on this critical strategizing time, either.
3. Bring on help.
When resources are tight, small business owners usually try to fill the gaps themselves. Each business has its own economic reality that’s got to be factored into any hiring decision; however, by and large, many business owners end up wearing multiple hats because they wait too long to hire additional staff. Yes, labor is usually one of the higher costs in the budget, but skimping on staff can have a detrimental effect on your business’ ability to grow, support customers and take advantage of new opportunities.
Before looking to bring on help, you should sit down and objectively assess your own strengths and weakness. What areas of your business do you love? Where do you need more discipline and development? By identifying your areas of weakness, you can see where you could best get assistance from another (whether that’s a full-time employee, part-time employee, contractor or temporary agency). When hiring as a small business owner, it’s always best to try to maximize your own strengths and fill in gaps for your weaknesses, rather than just hire for what you’d consider “lower wage” work.
4. Empower those around you to do more.
When you’ve been used to running your business on your own, it can be difficult to relinquish control of day-to-day details. But it’s critical to let go. Successful business leaders don’t micromanage what everyone else is doing. Rather, they empower people around them to do their jobs.
Make sure you’re giving your contractors and employees the freedom to make decisions (even make mistakes and correct the mistakes themselves). In the long run, you’ll have a wiser, more confident, more effective and more capable workforce. And you’ll be able to focus on the strategic aspects of your business.
5. Always stay close to the customer!
No matter how big your business gets and how much staff you bring on, I always advise business owners to stay as close to their customers as possible. This means two key areas: sales and customer service. Talking to customers one-on-one is the best way to truly take the pulse of the market, customer needs and how your company is doing. And helping customers is probably why you started your business in the first place, right?
Most importantly, don’t forget to embrace all the many hats you wear in your business. Because one thing is for sure; you’ll never get bored!
5 Ways to Balance Multiple Hats in Your Business
View full post on Small Business News, Tips, Advice – Small Business Trends
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Aug 30th
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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
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Jun 16th
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Apr 2nd
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Multiple dumbnesses
May 22nd
About twenty five years ago, Howard Gardner taught us his theory of multiple intelligences. He described the fact that there’s not just one kind of intelligence, in fact there are at least seven (1 Bodily-kinesthetic, 2 Interpersonal, 3 Verbal-linguistic, 4 Logical-mathematical, 5 Intrapersonal, 6 Visual-spatial, 7 Musical, 8 Naturalistic). This makes perfect sense—people are good at different things.
The flip side of this occurred to me the other day, as I was busy judging someone for being really dumb. Of course, no one is really dumb. And certainly no one deserves to be judged as such. If we’re good at different things, we’re also bad at different things, right?
The story people tell about you (and the one you tell about yourself in the way you act) may be broadcasting one of your weaknesses louder than you deserve. We often fail to hire or trust or work with someone merely because one of their attributes stands out as below par. That’s our loss.
View full post on Seth’s Blog
Multiple System Chaos: How to Avoid It
Apr 19th
One of the strongest trends in small business today is the emergence and adoption of technology.
If you’ve started or run a business in the last 10 years, there’s a good chance that you have turned to technology for help. You may have created a spreadsheet to track leads. You might use a desktop calendaring system to plan out your days. You might use a web-based to-do/task list to keep on track. There’s a good chance you’re now using a web-based email marketing system. Hopefully you have a website by now. If you sell products online you almost certainly have a shopping cart hooked into your website (which might be made up of a merchant account, PayPal, eBay and more).
But, is this new technology a friend or a foe?
As an entrepreneur growing a business, you’re bootstrapping it. You’re finding amazing technology tools (many of them free or are low cost) to grow your business – that’s the right thing to do. Each tool provides a new benefit to your business. Some automate your work while others allow you to organize information so you can easily find it later. Each tool makes your business run more smoothly and makes your life less chaotic. Or does it?
Growing your business is extremely exciting. There comes a point when the business you dreamed of for so long is starting to blossom and success seems so close you can taste it. But, that’s usually also when things start to go haywire. Suddenly, the technology you turned to during your startup phase is now a jumbled pile of incompatible systems. Your email program doesn’t work with your shopping cart and your spreadsheet of leads is definitely not in sync with your customer database. Trying to find all the information you know about one of your customers is nearly impossible and very time consuming.
Here’s a great example – I know of one man who sent out an offer for a 50% discount to his prospect list, hoping to get a big boost in sales at the end of the month. To his horror, he started getting phone calls from angry customers that had recently paid full price. Since his systems weren’t in sync, he could not ensure that his past customers were not also in his prospect list. This is a common problem called “Multiple System Chaos” – it can be crippling. Small businesses don’t have the resources to integrate all the systems they use and they don’t have the luxury of time to chase down the information they need.
So, what can you do to combat multiple system chaos? How do we stay sane when the very technology that houses our most important data is suddenly our enemy?
- Awareness. The first step is to know that this problem is coming. It usually hits most small business owners right in the face because they’re not expecting it. Be aware that growth brings complexity – this will help you avoid costly mistakes. Take stock of the systems you’re now using and those that you will need as you grow.
- Plan. Once you’re aware of the complexity that will come as you grow, you can start planning for the future. Planning will help you make well thought decisions about implementing technology before you have a problem on your hands.
- Integrations. Today, there are many technology integrations that allow your systems to talk to each other, saving you time and headaches. Make sure that you look for systems that can easily integrate with others. Social media tools are great examples of this – I can post a status update on Twitter and it will automatically update my Facebook as well because they integrate with each other. Find customer systems that do that same.
- All-In-One Solutions. If you’re a serious entrepreneur and want to grow quickly, you’ll want to consider an all-in-one system built for small businesses. There are several systems that include marketing automation, a customer database, a shopping cart and more. These types of systems can save you time and money in the long run. One of the recent developments in this area is the concept of “Email Marketing 2.0”. Most email marketing systems don’t include a customer database, they only allow you to maintain lists of email addresses. Email Marketing 2.0 is the marriage of email marketing with a customer database, allowing you to keep track of your customers and prospects, and send them timely, relevant emails.
If your appetite for growth is strong, you will run into multiple system chaos. By being aware of the problem and planning for the future, you’ll avoid nasty mistakes and turn technology into your friend again.
Multiple System Chaos: How to Avoid It
View full post on Small Business Trends
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Feb 18th
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