Small businesses close for a number of reasons. Whether a new venture comes along that the owner can’t refuse, or making ends meet just becomes too much, every business has its own story. We asked our small business experts to tell us about businesses they’ve had to close, and what they learned from the process. Here are our favorite answers… (more…)
A 2014 study by Google found that a little over half of small businesses have a website, though it’s likely that number has gone up since the survey was done. Still, the fact that a little under half of small businesses don’t even have a website it appalling – without one you are losing customers every day. Over 50% of people surveyed said they look up a business online before making a purchase, and that same study found local searches are twice as likely to lead to a purchase. Creating a solid web presence, though, is more than just parking a site under ‘yourbusiness.com’ – you’re going to have to put in a bit more effort to see any real returns. (more…)
Independent, or 1099, contractors run their own businesses. A properly classified independent contractor is allowed to set their own hours, decide from where to work, and are allowed to negotiate payment. When you work as a 1099 contractor, you have to think of the businesses who you do work for as your clients, rather than your employer. And as a small business owner, an independent contractor should treat his or her work like any other entrepreneur would, and that includes considering the formation of a separate business entity. So should 1099 contractors form an LLC? That all depends on their personal situation, but there are some great benefits to it.
Fewer Misclassification Concerns
The state has cracked down heavily on 1099 misclassification after years of erroneous assumptions as to what employers could and couldn’t expect from an independent contractor. Employers had been using the 1099 designator to keep employees from earning the wages and having the protections required by law. (more…)
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“. Fran 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…)
Hiring your first employee is an exciting time for your company. Your daily duties have expanded and you need to hire someone to take over some of the responsibility. Before you interview and find the person you want to bring into your company, you need to understand the legal requirements for hiring and maintaining employees.
Over the past couple of years, controversy rose around independent contractors. The line between employee and independent contractor has thinned, and many are confused over how workers should be classified. In general, the independent contractor is considered to self-employed, and the company is their client. This means that there are some vast differences between the tax obligations for independent contractors and employees.
Every day around the globe, firms and corporations rise to the top or sink to the bottom. Such rises and falls are attributed not only to external factors but also to the successful or unsuccessful implementation of business plans and to the strategies, marketing goals, estimations and forecasts established by these corporations. Successful marketing goals and strategies that help companies rise rather than fall choose the right media services that will boost the company’s exposure on the proper media platforms. In search of these services, businesses are finding useful tools and resources to reach wider audiences in many different languages, and one of those primary tools is voice-over recording. (more…)
The trend of big data has led to the rise of social media platforms handing their consumers analytics on their presence online. LinkedIn is no different. As a small business, understanding your page’s analytics is vital to its success as it gives you a great amount of information on your target audience’s preferences. But with all analytics, there are some key figures and terms to monitor that give the most insight into your successes and failures.
Although internships are not necessarily a new idea, their rise as an essential part of the college 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.
LinkedIn is a very effective medium to increase customer acquisition, especially in the Business to Business market. But with the different types of advertising, the bidding payment system, and a plethora of targeting opportunities, the advertisement choices on the platform can be a tad difficult to navigate. The key to understanding LinkedIn paid advertising is to know a great deal about your target audience.