Monthly Archives: August 2011

Awesome Affiliates: Roozt

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This week’s Awesome Affiliates may ring a bell due to their previous mention when we highlighted Hayley Hoverter, the 16-year-old inventor of Sweet SerenDipItTea.  Hayley is working with Roozt, being the socially responsible product/service promoters they are. After all, her savvy, soluble sugar packets are particularly of the eco friendly variety. Here they are this week to share some helpful tips on how to have the best possible business with the most positive outcome, not only for yourself, but for our Earth.

You’re starting a business.  You have your idea, your plan, maybe you’re already all set up with your LLC because MyCorp is that fabulous.  Great job!

Now ask yourself, is my emerging company doing anything to make the world a better place?  Really think about it for a second.  If your answer is yes, then skip on to the next MyCorp blog post!  But if your answer is no, I challenge you to stop and think about how you can harness your power as an entrepreneur to change the world.

Integrating a socially responsible cause, such as using eco-friendly products, using only fair trade products, or at the very least donating a portion of sales to a charitable cause, into your business is not only great for the world, but also great for your business.  When presented with a choice, 79% of consumers would choose a brand that is associated with a cause over one that is not — and this can boost your sales exponentially.  The best part is that this boost not only helps you, but also has tangible impact on improving the world.

So here’s how to do it:

1. Find your passion - As entrepreneurs, we all know that passion is essential to build anything great.  This is no different story.  If you are not in love with the cause you are supporting, it will become tedious and be tossed to the side — something we both want to avoid.  Passion means you think and care about it, even in times when you’re not supposed to.  And it means you are going to get so much joy out of seeing your impact, that contagious energy will propel you to do even more great things.

2. Make it a core part of your business plan - There is heavy criticism by the media about “Cause Washing” and “Green Washing”, because the belief is that corporations are making millions of dollars in revenue and donating pennies to charity, so I urge you to think differently.  Instead of donating a portion of sales, figure out a way to truly build that social responsibility into your business model so that it is sustainable, it is impactful, and it is at the heart of your business. Consumers can smell a fake from a mile away, and it will consequently hurt your sales.

3. Stay involved and be transparent with your consumers - The most important part of cause integration is the communication with your customers.  Be upfront about what you are doing and quantify your impact for them so they can support your initiative by telling their friends.  Making this easy for your customers will encourage them to spread the word about your great company and help increase sales further.

Now is the time to integrate a cause into your for-profit business — when you are in the beginning stages of your business, rather than taking it on at a later stage in development — not just because it is the right thing to do for society, but also because it will help your business to be successful as well.  You the passion, now unleash it on the world in a way that will help leave the planet a better place already have.

Roozt is an online platform that connects socially responsible companies with ethical shoppers. If you’d like more information, please contact Melissa Levick, Business Development, at 310-640-3700.

Interested in becoming an affiliate with MyCorporation or finding out more about Roozt? Contact Cindi Sokoloff, Affiliate Manager at MyCorporation at (818) 746-2264 ext 320.

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Sharing is Caring!

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Odd little bits of financial news have a funny way of creeping through the cracks in between dreary market forecasts and predictions of economic apocalypse. If you haven’t heard, Warren Buffett bought $5 Billion worth of shares for Bank of America, and countered claims of being pressured to help out the ailing institution by giving his inspiration for the transaction; his bathwater. The Huffington Post explained his reasoning in their article about the story.

You do not need a heavy chain and padlock to keep your ideas safe.

As this shows, a quick idea in the oddest of places can have dramatic implications for the market. At least when $5 Billion is involved. But Warren Buffett’s willingness to share his inspiration is not something that is seen often, especially in times of economic duress. In fact, quite a few employees, entrepreneurs and freelancers seem to clam up when it comes to ideas. After all, how do you know your colleague isn’t going to steal that idea? Heck, how many wannabe Warren Buffett-s in the making have taken long soaks in the bathtub since this article came out? But without collaboration, ideas have a tendency to fester and die. Having a good sounding board can only help to strengthen an idea and test it against criticism.

So how does somebody share an idea, without the fear of losing credit for it? Here are three ways to share with others, without having to immediately run to the boss to stake your claim on it.

1. Find a group you trust and establish some sort of working relationship with the people in it.
It is fairly likely that you work next to a particular group of people, or are part of a specific team. In order for things to function smoothly, you have to get along with the people that you are in close proximity with. You may have even gone out to lunch or just hung out together when work got a little slow. Because a relationship is in place, they are much less likely to stab you in the back and steal your idea. Thievery is all about ease; it is hard to steal from somebody who you are closer to because the fallout would typically be harder to deal with than whatever you gained from stealing. Plus, most people aren’t complete sociopaths and would probably feel bad about not crediting the person who originally had the idea if they were friends. So if you want a group to vet ideas with, your team at work, or even the person who shares your cubicle, are great places to start. They are probably trained in the same field as you are, and would be a great place to get initial criticism. But if you are in an industry that seems borderline-sociopathic, and you probably know if you are, you can always get a copyright for your idea for you take this step.

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Rough Waters: Navigating Labor Laws

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For many small business owners, understanding labor and employment law can be seriously confusing. Paying an attorney to help explain labor law specifics can be extremely expensive, thus creating another road block. Still, for all business owners, understanding labor laws is paramount. For example, it is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors. Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an employee. You do not generally have to withhold or pay any taxes on payments to independent contractors.

How do you classify an employee? People such as doctors, dentists, veterinarians, lawyers, accountants, contractors, subcontractors, public stenographers, or auctioneers who are in an independent trade, business, or profession in which they offer their services to the general public are generally independent contractors. However, whether these people are independent contractors or employees depends on the facts in each case. The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done. An individual is not an independent contractor if he or she performs services that can be controlled by an employer (what will be done and how it will be done). This applies even if he or she is given freedom of action. What matters is that the employer has the legal right to control the details of how the services are performed.

Overtime pay is also a sticky subject with many small business owners. Not surprisingly, overtime pay for employees is federally and statutorily regulated. An employer who requires or permits an employee to work overtime is generally required to pay the employee premium pay for such overtime work. Employees covered by the Fair Labor Standards Act (FLSA) must receive overtime pay for hours worked in excess of 40 in a workweek of at least one and one-half times their regular rates of pay. The FLSA does not require overtime pay for work on Saturdays, Sundays, holidays, or regular days of rest, unless overtime hours are worked on such days. The FLSA, with some exceptions, requires bonus payments to be included as part of an employee’s regular rate of pay in computing overtime.

Finally, employers providing benefit packages to employees must also comply with additional federal rules and regulations. The Employee Retirement Income Security Act (ERISA) regulates employers who offer pension or welfare benefit plans for their employees. Title I of ERISA is administered by the Employee Benefits Security Administration (EBSA) (formerly the Pension and Welfare Benefits Administration) and imposes a wide range of fiduciary, disclosure and reporting requirements on fiduciaries of pension and welfare benefit plans and on others having dealings with these plans. These provisions preempt many similar state laws. Under Title IV, certain employers and plan administrators must fund an insurance system to protect certain kinds of retirement benefits, with premiums paid to the federal government’s Pension Benefit Guaranty Corporation (PBGC). EBSA also administers reporting requirements for continuation of health-care provisions, required under the Comprehensive Omnibus Budget Reconciliation Act of 1985 (COBRA) and the health care portability requirements on group plans under the Health Insurance Portability and Accountability Act (HIPAA).

Still confused? The most efficient way to ensure that your small business is compliant with the variety of applicable federal rules and regulations is to check with the secretary of state in the state where your business is located. Keeping up to date with labor laws is vital to the success of any business. Learn more about business maintenance HERE!

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Awesome Affiliates: Bizdocs

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Welcome Gretchen Miller, President of Bizdocs and good soul. Bizdocs is an online service that offers new businesses the opportunity to ask questions and find their way with some friendly, affordable help.

“You can have everything you want in life, if you help enough other people get what they want.”  That’s a quote from the book “See You at the Top”, by Zig Ziglar, an American author, salesman, and motivational speaker.  When I was a kid it was available on cassette so I gave it a listen; then I listened again and again and again.  I couldn’t really tell you what was on the rest of the tape set but I will never forget that quote.  As it turned out, Zig really knew what he was talking about.  It comes down to one thing:  Stop worrying about your own problems and help people.

Practice this in your professional life and you’ll be amazed at what happens to your bottom line.  People want to be heard.  They need solutions.  When you find that solution for them, they don’t forget it.  They not only purchase your product but they tell everyone they know about the great guy at 34th and Main Street who solved their painstaking problem.  Yes, everyone has quotas; that’s a given.  You may have to work a few extra hours a week to improve upon the quality of your delivery but in the end, definitely worth it.

Let there be no mistake; you will not see overnight results.  You won’t wake up some time next week with money falling out of your closet (unless you’ve robbed a bank, in which case you’ve totally missed the point of the exercise).  You will, however, wake up one morning when you least expect it and say, “How did I get here?  Why is it again I don’t have to worry about paying my bills this month?”

Our new site was developed simply to help small business owners.  We’ve seen the good, bad and the really ugly and thought it might be nice to give you, Jane FlowerShop, or you, John SmallEngineRepair, a little direction when you’re stumped without having to pay a fortune for the information.

On our site you can find important information on what it takes to start your business, grow your business and save money along the way.  We have free classifieds.  Sell your whole business if you like, at no charge, get rid of some excess inventory or find that perfect employee you so desperately need.

We offer low-cost banner advertising by the month instead of per-click.  Has anyone been hit with a $500 online advertising bill for the month and wondered who in the world is clicking your ad since it sure isn’t showing up in your bank account?  The banner ads are one rate, inexpensive and will give you lots of exposure without any costly surprises at the end of the month.  Pick the page that suits you best for your advertisement and sign up.  It’s that easy.

While you’re at it, you might want to think about some corporate apparel for your business.  There is no minimum quantity required.  Upload your logo or design a shirt from scratch.  Either way, just get some shirts with your business name on it!  If no one knows you exist, they can’t do business with you!  How many places do you or your employees go in the course of a day?  How many people will see your logo or your website address on that shirt in just one day?  Dollar for dollar, best investment you can make and, unfortunately, the most overlooked.  It doesn’t matter where you get the shirts; just get them.

I hope in this writing I’ve helped someone in some small way.  Just one more thing about what Zig said… helping people get what they want doesn’t have to be limited to your professional life.  If you have opportunity, please take some time to help someone less fortunate.  The relief you will give them is priceless.  It doesn’t have to be complicated.  For instance, next time you walk by that homeless man, hand him a coat; it’s getting cold at night.  Take some clothes or school supplies over to that single mother.  School is starting and she doesn’t know what she’s going to do.  A small gesture for you may be huge to them and they will always remember your kindness.

Interested in becoming an affiliate with MyCorporation or finding out more about bizdocs? Contact Cindi Sokoloff, Affiliate Manager at MyCorporation at (818) 746-2264 ext 320.

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Four Ways to Completely Ruin A Skype Interview

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Our CEO Deborah Sweeney wrote her Four Tips for Skype Interview Success over at the Forbes Blog last week, so we decided to write a response looking at the four ways to utterly ruin a Skype, or other video based, interview. Interviews via webcam are a fairly new thing, and most people have simply transferred what they would typically do in a phone based interview to their video interviews.

This guy is not being all that he can be.

But what if this interview is for a job you don’t want? How do you make sure you adequately scare away any potential employers and mark your Skype username as one to avoid at all costs. Well… we first off recommend you don’t try to scare away employers. A simple no will suffice if you choose to look for other avenues of employment. But, in the spirit of fairness and equality, here is our tongue-in-cheek response: four ways you can completely ruin any Skype interview.

1. Dress like you would at home.

There is no one to judge you when you are alone at home, so a stained t-shirt and some baggy sweats are perfectly fine if you want to spend the day vegging on the couch while watching re-runs of Maury. However, Maury isn’t going to hire you. One of the best ways to completely ruin your chances at landing this job is to dress like you aren’t going to be leaving the house for a few days. Unkempt hair, unshaven, dirty clothes; all of these and more can be used to thoroughly disinterest the interviewer. Don’t forget, they can see you and everything that you are doing on camera. When you are talking to someone on the phone, they may not be able to tell you haven’t showered in three days and are currently drinking a beer at 11 in the morning. On Skype, it is pretty obvious.

2. Use your regular username.

Are you known by the handle hotpartyanimal4567? Well then, you must be quite the hot party animal…4567. While that may be something you are willing to share with your friends, potential employers may not want to know your level of hotness or about your affinity for partying. If you want to ruin your chances of being hired, be sure to use the username you registered back when you were a Freshman in college and Skype was the hottest new thing. That is of course unless you have a normal username, like your actual name. Dialing that won’t leave a sour taste in the interviewer’s mouth and works to establish a good first impression. Or that you at least know how to register more than one username.

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How to Avoid the Dreaded Lawsuit

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Lawsuits are an unwelcome guest in any household not to mention in any business; no one wants to be sued! Unfortunately, lawsuits surrounding the workplace are on the rise. Compensation issues, discrimination complaints as well as wrongful termination suits were all in abundance in 2010. For example, in 2010 wage and hour lawsuits under the Fair Labor Standards Act jumped dramatically, adding 700 more cases than in 2009 totaling 6,800 lawsuits.

Other areas contributing to an increased number of lawsuits are disability and leave of absence claims. Requests for disability accommodation as well as for a leave of absence are on a dramatic upswing. Employers are now seeing work-related injury claims stemming from physical or emotional ailments that don’t stem from the job but affect it. Denial of such claims can lead to a lawsuit under the Fair Labor Standards Act. The issue appears to be finding a balance between what legal right the employee has versus what legal right the employer has; the two rights often overlap.

What is causing this increase? Some point to the increased activism by the Obama administration in both discrimination and wage and hour claims. In 2010, the U.S. Department of Labor hired around 200 additional field investigators to strengthen its enforcement efforts. In fact, a number of complaints made surrounding the heightened investigation claim that federal agencies are turning what used to be small, resolvable workplace matters into full-scale investigations. How can the problem be solved? Better yet, how can lawsuits be avoided?

1. First of all, keep open lines of communication between all departments and employees. Full disclosure regarding wages and salaries, over-time pay and leave of absence policies will keep everyone in the office informed of their rights.

2. Provide outlets for counseling and dispute resolution within your business. Employees and employers alike should have an outlet in which they can air their grievances without feeling threatened.

3. Ensure hiring procedures are in place and employees are appropriately classified.

4. Don’t retaliate against employees for complaining. The majority of claims filed with the Equal Opportunity Commission include a form of retaliation.

5. Finally, treat everyone equally and fairly. Employees who feel valued are not only happier, they will perform more efficiently and accurately.

Lawsuits are intimidating. However, they can often be avoided. Keep the above five tips in mind to increase productivity in the office and to create a happier, lawsuit free environment. Learn more ways MyCorporation can help you maintain your business HERE!

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Awesome Affiliates: fastARfunding/ Factoring Help – A Simple Guide to Begin Invoice Factoring

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FastARfunding is being high-lighted this week for being the online leader in accounts receivable factoring. The company takes pride in their eco-friendly, paperless methods as well as their reputable speed of providing funds in as little as 48 hours. We welcome these accounts-receivable-factoring-big-kids-on-the-block to share some words of wisdom when completing an online factoring application:

So you’ve heard of invoice factoring and want to increase your business cash flow by unlocking some of the value you have in your accounts receivable.  You need a quick and reliable partner for future access to cash in order to invest in your business and help it to grow.  You are thinking of filling out an application with an online factoring company.  Before you jump in, here are a few items you should have at your fingertips as you begin the application and “underwriting” process with a factoring company:

1)      All of your company’s formation documents including LLC and/or articles of incorporation.  If you are currently operating as a sole proprietor, you can easily and inexpensively establish a new company for yourself using mycorporation.com.  All factoring companies will initially do a corporate or LLC search in the respective State where you operate in order to seek confirmation of your “company’s good standing”.

2)      Basic information about the owners of your company, how long you’ve been in business and gross annual sales.

3)      Information about your top 5 customers (that you intend on factoring) including the amount of sales you complete with each of them on a monthly basis and the terms you extend to each customer (e.g. net 30 or net 60).

When you are selecting a factoring firm on the Internet, be sure to check if the firm is registered with the Better Business Bureau and they use a secure internet website for the collection of data when you fill out the initial application (typically the address bar will turn to a green color and you’ll see https://secure in front of the web address).  While there are many companies that advertise a free application process and other “goodies” like no monthly minimums, extremely low factoring fees (e.g. less than 1%), and no long term contracts, please be cautious.  No finance firm can offer all these items to all clients or they would not make enough money themselves to survive!  So, take the time to call the factoring company directly before you fill out an application, and ask one of their representatives some basic questions to verify if they will really be able to deliver what they say.  Most factoring companies will gladly take your phone call and walk you through a few basic questions in order to make sure you’re a good potential applicant for them.  If you are not a good fit, they may refer you to another factor that specializes in your particular industry.

Fast A/R Funding offers additional detailed information about invoice factoring and you can get that information for FREE by clicking HERE.

Interested in becoming an affiliate with MyCorporation or finding out more about fastARfunding? Contact Cindi Sokoloff, Affiliate Manager at MyCorporation at (818) 746-2264 ext 320.

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Discount Do's and Don'ts

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Do you use coupons? Most businesses do, in one way or another, and they have historically been a great way to boost sales and move product. After the recession hit, thousands of companies began to rush coupons through the printers in an attempt to hold on to some of their customer. However, a recent article from The Street explored the concept of the coupon and posed the question: are consumers burnt out on deals?

Hopefully you don't cause your customer's coffee tables to look like this.

It is an interesting problem, but not very surprising. It is easier than ever to send a blast of promotional material over the internet, and many online consumers have begun to tune it out. Too many coupons could also hurt the reputation of a company’s product, as consumers will begin to associate it with a discount brand. So how can your business properly utilize promotions?

Below are our five tips for using coupons to increase sales without annoying your customers or ruining your image.

1. Know your price points and don’t take a hit just for some publicity.

Big Corporations will occasionally do this to generate hype, especially if the product they are launching has received a bit of media attention. But they can afford to take a small cut in their profits, most small businesses can’t. So know exactly where you stand before you start sending out coupons. Another danger in discounts is a race to the bottom that could occur if your competitors have a very similar product and try to meet you cent for cent during your promotion. Before you send out the first batch of coupons, have a clear idea as to how much you stand to lose, and if you can even afford this promotion.

2. Try not to spam your costumer’s inboxes and mailboxes.

No one likes having to dig through a big pile of paper in their mailboxes or a huge blast of messages in their inbox. Things like that are annoying, and end up alienating rather than attracting. So be sure to have a set amount of coupons you are going to send out, and try to ensure you aren’t mailing anything to the same person twice. You want to inform your customers without drowning them in information, so plan accordingly and make sure you aren’t sending a new coupon out every week.

3. Figure out what you are trying to accomplish with this sales campaign.

In order to understand if a particular ad campaign is worth it, you need to have markers of success in place. Know what type of sales increase you want to see at the end of the campaign, or how many new customers you want to walk through your doors. If you don’t have a clear idea as you what you want to accomplish, you are just wasting money on paper and postage. You should plan your coupons according to what you want to accomplish as well; a buy one, get one free coupon may get a lot of product off of your shelves, but you probably won’t have too many repeat customers. Do your research, and have a clear set of goals in mind.

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Can I Get Your Card?

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There’s nothing quite like having your own set of business cards. Small and laminated with embossed print and designs, they fit perfectly into shirt pockets and wallet slots. In a moment’s notice, they’re easy to pass out and give to future clients and at networking events. These cards proclaim your responsibility within a company: who you are, what you do, how they can reach you if necessary. There is a degree of pride that comes with your business card, so why not make it stand out against the others?

Creativefan.com posted a list of the 100 best business cards from 2010 last year as they rounded out the year. Undoubtedly since that year, more imaginative and environmentally savvy cards have cropped up. From the outstanding list last year, the selection ranged wide in color, design, and functionality. You wouldn’t have quite thought that business cards could serve as being functional, but depending on the industry function speaks louder and stays with you longer than just a simple laminated card. Glider created a card that could be folded into a tiny airplane and Russian website printsite.ru went for a card that glowed in the dark (very nifty to find if you’re missing it!). Other cards were quite literally the picture of their company- a director’s clapboard for Feelme Crew and a cookie shaped wafer for the Bombay Bakery.

Business cards have come a long way, baby, since being plain and straightforward. And what better way to get a set from card creating masterminds Vistaprint than incorporating with MyCorporation for a set of 250, styled to exactly your preference? Incorporate with us by 8/31/2011 and you’ll receive as part of the package a set of swanky new cards just in time for your new business!

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Awesome Affiliates: AppAhead

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Need to know the best hotel rates in the city you’re about to travel to? There’s an App for that. Want to find the perfect gift for your 5 year anniversary? There’s an App for that.  Ever wonder how many cats you can fit into your Subaru? There’s probably an App for that…

Apps are becoming a quotidian part of, not just our virtual, but tangible lives.  AppAhead is taking the App craze and aiding small businesses in implementing personal Apps tailored to them:

As a Small Business, you need to stay connected with your customers.  In this increasingly mobile and social environment, your customers are turning to their phones and other mobile devices more often, so are you staying ahead of your competition and getting a mobile App for your business?  You should be.  Mobile Apps have exploded in popularity, and it’s not all fun and games.  Sure, you can download a game to your phone to pass time, but take a look at your local fast food restaurant, auto repair shop, or Movie Theater – more than likely they’re sporting an App too.  The latest trend is to make your own App, but that can be very costly to build and maintain if you do the development in-house.  AppAhead is an affordable alternative to doing it all yourself.

AppAhead has a Do-It-Yourself App building platform that helps you build an App using templates that are tailored to different businesses and industries.  Whether you run a restaurant or auto shop, or you provide a service like a realtor, photographer, or fitness trainer, an App can help boost sales and set you apart from your competition by helping you stay connected with your customers – by offering deals, promoting other services, and being more accessible to do business.  Businesses that want to stay connected with their customers will benefit from having a mobile App the most.  You can give your customers the option to submit restaurant orders, showcase your recent projects, real estate listing, specials, and much more.

The Do-It-Yourself platform is customized for restaurants, shops, hotels, realtors, yellow pages and many others.  Most functionality can be added with the click of a button, and AppAhead handles all the workflows, so you can either integrate with your existing systems or get email alerts.  Whether you’re a restaurant owner, realtor, or you run a car audio shop, you can get an App with the essential functionality to stay connected with your customers anywhere, anytime.

You don’t even need to be technical; you can upload your information on the web or pick up the phone to get started.  With your logo and content ready, AppAhead will develop a custom App and submit it to Apple’s App Store and the Android Market.  Once you have an App, you can maintain the content using a web based Content Management System.  Upload a new restaurant menu, a new price-list, maybe you want to promote a new service – no problem!

Building an App yourself has a lot of upfront costs, but it can be extremely costly in the long haul having to maintain it for multiple mobile platforms – iPhone, iPad, Android, Windows Mobile – and what do you do when the next one emerges?

It’s well known that in order to be successful running your own business, you need to make good decisions and get the most out of the resources you have.  A low cost way to get your business front and center for your customers, and differentiate you from the competition, is what AppAhead specializes in.  We know what businesses want most, so we tailored our platform that way: Dynamic media and content that you change on the fly, Push notifications, social network integration, custom forms, GPS location features – and more.  We make it simple, so what are you waiting for?  Put your business front and center with a Mobile App.    If you’d like to discuss a custom design, or have a great idea for an App, drop us an email at app-info@AppAhead.com.

Interested in becoming an affiliate with MyCorporation or finding out more about AppAhead? Contact Cindi Sokoloff, Affiliate Manager at MyCorporation at (818) 746-2264 ext 320.

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