MyCorp Recommends: “The Power of Failure”

A fear of failure can be paralytic, especially to a small business owner or would-be entrepreneur. It means losing all the time, effort, energy, and money risked on an enterprise. But what if someone said that failure was a good thing? That, in fact, feelings of failure and defeat carry the true key to success?

Our good friend Fran Tarkenton argues exactly that in his new book “The Power of Failure“. TarkentonBookFran Tarkenton is no stranger to failing – he helped bring the Minnesota Vikings to the Super Bowl three times during the 1970’s, and each time lost. After turning to business, the first two companies he founded eventually folded. But he didn’t allow himself to be engulfed by that failure and now, as CEO of Tarkenton Companies, is a wildly successful entrepreneur.

Failure, he posits, is a gift that brings incredible power. In “The Power of Failure” Tarkenton shares never-before told stories of his time in the NFL, and the personal, occasionally painful, moments he experienced. Through his own hard-learned lessons and invaluable advice given to him from friends and mentors like Sam Walton and Bernie Marcus, Tarkenton lays out the myths and truths of failure, and how to follow through to success. (more…)

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Business Basics – When do I Hire a Manager?

As you small business grows, it’s hard to pin down the best time to hire new people. Managers are especially difficult to time correctly. In many cases, they are seen as a luxury for small business and should only be brought into your management team if absolutely necessary. hire a manager But as your company grows and your job as owner changes, managers are the key to a successful, growing small business.

Overwhelmed

When you first started you may have ended your day at 6pm, then it became 7pm, and now you leave later than you ever intended. If you find that your days are getting longer because you have to fix every little problem in you company, it’s probably time to hire a manager. As Reza Chowdhury, of AlleyWatch said in an interview with Bplans, ”You’ll likely find yourself trapped in a perpetual hamster wheel, focused on tasks that are not a good use of neither your time nor skill set. At this point, it’s time to bring in the help to allow you to focus on the big picture.” (more…)

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What Do You Look For In An Intern?

Although internships are not necessarily a new idea, their rise as an essential part of the girl_in_class_studentcollege kid’s life has only occurred in the last decade or so. Employers set out every year for a new batch of interns, each with their own set of requirements. From talking to my own college intern, I can tell you that most students her age don’t have a great grasp on the specific characteristics employers look for in an intern. The issue arises because many consider interns to be their own class of employee that has very different expectations than the rest of the company. We asked some experts on what exactly they look for in an intern and, as to be expected, the results were all over the board.

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Experts Weigh In: How do you build long-term relationships with your customers?

business servicesBuilding a strong customer base can be tough. Turning those customers into long-term customers who’ll come back time and time again is even tougher.

At MyCorporation, we’ve found that creating a login feature keeps our customers wanting to work with us. With MyCorp Vault, our customers can login to access their business documents whenever they need them. We also consistently provide assistance to businesses throughout their entire lives with services like filing annual documents.

We asked our small business owners how they create long-term relationships with their customers and this is what they had to say: (more…)

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Experts Weigh In: How have you responded to Google’s algorithm change?

touchscreen interfaceIt’s no surprise that over 60 percent of all searches are now happening on mobile devices. To keep up with the times, Google has recently made changes to its search algorithm causing sites with mobile friendly experiences to be ranked higher when searched. MyCorporation recently debuted our new site to comply with the Google’s announcement and to create a more user-friendly experience. We asked our small business experts what their thoughts are on Google’s algorithm change, and how they’ve been adjusting…  (more…)

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Experts Weigh In: How do you handle payroll?

Idea_Thinking_Woman2Payroll can be tricky for small business owners. It’s a lot to learn if you want to tackle payroll on your own, and it can be costly to hire on a new employee or use an outside service. We asked our small business experts how they handle their payroll:

“We are a small organization with anywhere from 4 to 6 employees. In spite of the higher overhead, we use Paychex because of the ease of use and because of the clarity they provide while filing taxes.” –Denise Castronovo, Castronovo Chocolate  (more…)

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Experts Weigh In: How much education did you receive before starting your business?

6 Leadership Lessons We All Learned in KindergartenEach entrepreneur has a different path. Some realize their business dream a little later in life, and, others, as early as high school. We asked our small business experts how much education they received before starting up their businesses, and how they think that decision has played out for them.

“I started my business right after I graduated from college. In fact I graduated from college, moved to a new city, got married, and started my business all in the same month. I always knew that some day I would have my own business and by the time I was in my final year at LSU I realized that the best time to do this was right now, so I began doing freelance website development and Internet marketing. I signed a major client my first month so that made the transition to full time self employment much easier. 18 years later I’m still in the same business and glad that I ventured out on my own.” –Charles Ogwyn, My Internet Marketing Partner, Inc.  (more…)

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MyCorp FAQs – What do you need to know about payroll?

Payroll may seem like a straightforward topic, but there is a lot more to it than just tracking hours and cutting checks. Unfortunately a lot of small business owners don’t realize that and, before they know it, they’re up to their ears in tax forms and reports they’ve never even heard of. Calculating, and staying on top, of payroll can actually be pretty complicated, especially if you don’t have a background in accounting. payroll system So what do small business owners absolutely need to know about setting up a payroll system?

You must withhold taxes

The federal, state, and local governments can all levy tax on income, and it is your responsibility as an employer to withhold the necessary amounts from your employee’s paychecks and send that into the proper agency. (more…)

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