The Importance Of Having A Well Designed & Professional Office

As a small business, you’re already at a disadvantage. This is because the majority of the time, people prefer to work with bigger and better-known brands. The main reason for this is because larger companies tend to be seen as being more professional. There’s nothing to say that a company that’s been running for 30 years will be more professional than a startup that launched six months ago. However, it’s a common misconception that many people make.

With that in mind, as a small business owner you need to ensure that your company is always as professional as possible. A big part of doing that is providing a good first impression. You see, in business, first impressions are everything. With that in mind, it’s crucial that you make every effort to always keep your office up to date and relevant. As that way, anyone who comes to your office will see that your startup is just as professional as your larger competitors.

Ensure the decor is smart and stylish

Your business premises should reflect your personality and sense of style. However, the most important thing is that the decor is smart and stylish. The vital thing to remember is that your office is a professional space. That means it’s crucial that it is designed and decorate to look and feel professional. If you’re unsure how to update your decor to be more professional, hire an interior designer to help you.

Opt for minimalism

There is nothing more unprofessional than an office space that is stuffed full of this, that and the other. To ensure that your office looks and feels professional, it’s important to adopt a minimalist approach. This means keeping the entire space free from clutter. The key to doing this and having everything that you need to run your business effectively is good storage solutions. There are plenty of options to choose from; it’s just a case of taking the time to think them through.

Make health and safety a priority

Regardless of the size of your office space, health and safety should always be a priority. There is nothing more unprofessional than a company that doesn’t take things like health and safety seriously. Because it shows their lack of regard for their employees (if they have any), customers, and the business industry in general. To ensure that your business premises is safe, perform regular checks on it. Any areas that you’re not trained in hire a professional to come in and check over. Take your electrics, for instance. Say, for instance, your power keeps turning on and off. It’s a good idea to use a electrical service to find the problem and repair it. Or say, for example, you’re having a problem with your safety lighting. It’s important to call in an expert to deal with it. It’s totally unprofessional to leave a problem, especially if it could potentially be dangerous.

Incorporate branding

If there’s one thing that instantly gives a space a more professional feel, it’s branding. Regardless of how big or small your business is, having branding used in your office can have a big impact on how professional you seem. There are various ways that you can incorporate branding into your office space. It’s just a case of getting creative. Think signposts, wall art, flooring.

So there you have it, how to ensure that your office is well designed, relevant, and professional.

 

Why Your Business Should Accept PayPal Payments

If you haven’t yet heard of PayPal, you probably haven’t been spending too much time online in recent years. It’s becoming the payment option of choice for many people, offering renowned security and protection. Like anything else, it has its flaws. But, people are gravitating towards it, and your business should be implementing it. Why is this so important? We’re glad you asked.

 

 

  • Consumers Don’t See It As Real Money

 

If you’ve got a PayPal account, it sits separately to your normal bank account. It’s an online bank where some of your money might be deposited, but you’ll never actually see it. Sure, a customer can put it into their bank account and withdraw it, but many don’t choose to do that. Instead, they see it as ‘play money,’ which makes them more likely to spend it. There’s nothing lost and nothing gained – they’re just figures on a computer screen. That’s the mindset that many adopt, leading to more expenditure.

 

 

  • Because People Have PayPal Debit Cards Now

 

PayPal has always been thought of like an online service. However, times have changed, and PayPal has a huge presence in the real world too. PayPal cards allow people to spend using the money in their account, and retailers need to be ready for this. A PayPal credit card reader is your option if you want to solve this issue.

 

 

  • It’s Secure

 

Ask all the customers that use PayPal for transactions about why they use it, and you’ll probably get one response. “It’s secure.” PayPal has a very well-implemented protection system in place, and it has become famous. It’s the go-to solution for anyone who might be scared about spending money online or even in-person. And, it’s not just the customer that benefits from the protective elements of the service. Businesses can rest easy knowing they’re protected with PayPal, too.

 

 

 

  • It’s Simple For Both You And The Customer

 

Even with all the protective features of PayPal, people wouldn’t use it if it was overly complicated. Luckily for PayPal, this was realized very quickly. Setting up an account for personal or business use is very easy to do. Once this process has been completed, it gets even easier. Customers just need to log in with a username and password when they need to. Businesses might need a little more admin, but nothing too taxing.

 

 

  • International Payments Are Easier

 

If your business is going to be trading online, you’ll probably start to make international transactions. There are a lot of stumbling blocks that can arise as a result of this necessity, but PayPal makes it easy. Although you will have to deal with conversion charges, they’re nominal. Many businesses see it as a necessary evil in order to take advantage of the simple nature of international transactions.

 

 

  • eBay Needs It

 

If your business is going to get involved with eBay in any way, you’re going to need PayPal. While it’s true that customers can pay via other means, they often don’t. PayPal is heavily integrated with this online marketplace, and you stand a chance of losing the sale without offering it.

The Secret To Keeping Your Business Secure

One of the biggest challenges facing businesses today is keeping everything secure and as safe as possible. This task actually has many different sides to it. If you want your business to continue on for a long time with success, then you need to ensure that you stay on top of this. In fact, there are a few different major areas which you need to try and keep as secure as possible. In this post, we will go through each of them one by one. We will see the various ways in which you can work towards keeping your business more secure – and your customers. Let’s take a look now at what this might entail.

 

The Building & Premises

We should start with the actual physical premises in which your business is housed. If anything goes wrong here, then the whole business is likely to be dramatically affected. Looking after your business’ premises is relatively straightforward, albeit hugely important. One of the main ways in which you should be protecting it is by hiring a security team to keep an eye on it at all times. This is especially important when it comes to those nighttime hours when nobody is there. However, around-the-clock surveillance isn’t a bad idea, either. As long as you are keeping your business secure, you can feel safe in your business’ basic building blocks.

 

The Customers

It is vital to remember that you also have a certain duty to protect your customers’ interests and their personal data. To that end, make sure that you are doing everything in your power to protect them. For the most part, this means ensuring that you have a secure online payment system. Using a service like that offered by HBMS, you can ensure that your customers feel as safe as possible. But there is more to it than that. You also need to be careful with what information you hold about your customers on-site. Chances are, you have a lot of data about them, and you also have a duty to look after it properly. If it gets into the wrong hands, it could cause a lot of trouble, so this is highly important.

 

The Employees

Much of what we can say for customers can also apply to your employees. You need to ensure that their data is also protected, no matter what. But protecting your employees also goes far beyond just watching their data. You also need to think about their actual physical safety. Part of this is covered by looking after your premises in the ways mentioned above. But it is also vital to encourage a working culture which shuns all aggressive behaviour the moment it arises. You want your employees to be well looked-after, happy and safe in the workplace. That way, they are much more likely to enjoy being at work, and they will feel more secure. In many ways, keeping your employees secure is essentially the same as keeping your business itself secure. Look after one, and it takes care of the other.

Office Relocation: Three Main Considerations

It is in the nature of businesses to grow as time goes on. Of course, this is what most business owners are hoping for. There is little use in having a business unless you work towards making it as successful as possible. With increasing success comes a changing business. Often, this means that big changes have to be made to accommodate the business’ newfound size. If your business is at this point, then congratulations are in order. Watching a business you started get to this kind of point of expansion is a real joy. However, there is also a lot that you need to think about. A lot of the time, such a sudden spike in sales will means that big changes will have to be made. One such change is the relocation of the office. This is often necessary to deal with the growing business, especially if you also need to take new people on board. If you are thinking about relocating your office, then there is plenty to consider. Let’s have a look at what you need to think about.

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Equipment & Furnishings

Let’s look at what you will stock your new office with first. It is worth thinking about this first of all, because it is often a major expense during such a transitional period as this. A larger office needs more equipment and more furniture, particularly with new people on board. That’s why it is so much in your interest to save as much money as you can on these essentials. There are many ways you can do this. More info here: www.smarta.com/advice/general/the-ultimate-guide-to-moving-into-a-new-office/

 

The first, and most obvious, is to reuse some of the old equipment from the previous office. The truth is, you will probably find yourself reusing the majority of the computers. However, you might not. Some business owners like to make the most of this time during a business’ growth. Such people might well splash out on new systems. At the very least, it is worth considering – or selling the old machines to pay for the new ones.

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Another large concern for any office is the smaller equipment and stationery. It might not seem like these take up much of the budget – but you’d be surprised. In fact, it soon adds up, so it is worth sourcing cheap supplies. Have a look at www.filmsourceinc.net/pouch-laminator-machines-426-ctg.html for some examples.

Lastly, you need to find a sustainable way to source your furniture. This is deceptively important, as comfort makes for a much happier workforce. Never skimp on ensuring that your employees are as comfortable as possible in the workplace.

 

Space

It can be difficult working out how much space you need in your new office. To remedy this difficulty, I would highly recommend making a plan of the new office long before you need to relocate. This is vital for the successful completion of the transition. With a proper plan in place, you can see at a glance what exactly needs doing. It is much easier, on paper, to work out the space required and make it work for you and everyone involved. When you are working out what space you need, it helps if you have a clear idea of how many new people you will be employing. The ideal office space, for many, is one which has a combination of open and closed areas. Different people work in different ways, so it makes sense to cater to their individual needs. Ensure that you have both areas which foster collaboration and areas which allow individuals to work in peace.

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Beyond that, make sure that there is also a fair amount of ‘dead’ space. The last thing anyone wants is to work in an office which is crammed to the walls with desks and computers. Your employees will work best if they feel that they have a bit of space to move around. It is a great idea, for this reason, to introduce a comfy relaxation area as well. What’s more, it helps to have a little space for the business to ‘grow into’. After all, there is every chance that your business will continue to grow in the future. It is helpful if you don’t have to change offices again straight away. Plan well; think of the future.

 

Location

There is one rule which applies equally as well to business as it does to real estate: location, location, location. This famous adage works very well when it comes to choosing the right office space to move into. The location of your office is paramount, after all. Your employees need to be able to get there easily and without much fuss, for a start. If you relocate to somewhere further away, then people are unlikely to be very happy about it. You should ideally try to stay fairly central. Of course, it depends on where your business is located. But there is a fine balancing act which you need to consider if you want your office to work as smoothly as possible. If you are located in the city, don’t suddenly move your office to the suburbs. Your employees won’t appreciate the commute. However, there are downsides to being placed too centrally as well. For a lot of people, it helps to work somewhere slightly away from the centre of things. More information on the importance of location can be found at www.inc.com/magazine/20091001/.

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The location also plays an important role for you financially. Let’s not forget that you will be paying rent for your new office space. With that in mind, be sure to find somewhere which does not drain the business of its resources. There is little use in spending all of your money on new office space. There is a fine line to draw here – you don’t want to sacrifice on quality either. Finding the right balance can be difficult – but it is worth it and it pays off in the long run.
With a little dedication and some serious time put into it, you can find your new office easily. As long as you remember the importance of keeping your staff happy, and watching the pennies, you should be fine.

A Guide To Creating The Perfect Office Environment

Have you ever worked in a horrible cubicle office space? The strip lights seem to suck your energy away, don’t they? This is an example of a poor office environment. It lowers productivity and dampens morale. On the other hand, there are some offices that pride themselves on productivity.

The Google offices, for example, are known all over the world for their wonderful work spaces. Some have climbing walls while others have breakfast facilities. This might be a step too far for your average startup, but there is something to be learned here. The office environment has a huge effect on your employee’s work ethic. Here are just a few things you can do to help.

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Natural light

Studies have proven that natural light has a powerful effect on productivity. Natural light has provides an organic energy that helps workers keep going. It gives the entire office a warm glow and a burst of energy. It’s a big difference to harsh strip lights or other forms of artificial lighting. These light sources have a negative effect on productivity and energy. Aim to open up your windows and skylights as much as possible. Doing this can even lower your business costs by reducing reliance on energy.

Air conditioning

Keeping the air clean and at a reasonable temperature is key to effective working. A stuffy office will quickly lead to low productivity and drain the energy from your workers. Try upgrading your air conditioning and duct systems throughout the office. Use a Norfab qf pipe to keep the office free of dust too. This will create a healthy, pleasant environment to work in. It’s all about getting the temperature and ambience just right to encourage the best work.

Let employees personalise their space

Google have a famous policy for new employees. They are each given $50 on arrival to personalise their desk. They can then go out and buy whatever they like to make their space their own. Doing this instantly makes employees feel at home. There are lots of benefits to making workers feel comfortable in their own space. They’ll work harder, faster, and more effectively. They’ll enjoy coming to work, and feel a little happier in their surroundings.

 

Make it fun and comfortable

As well as the working space, you should create comfortable break areas. It’s essential that your employees take regular breaks throughout the day. It helps keep their energy up, and keeps the business ticking over. Provide a fun and comfortable break area to aid this. For example, introduce a ping pong table or comfortable kitchen. It will also encourage your employees to collaborate and communicate better.

 

Open plan and closed rooms

A lot of modern offices instinctively opt for the open plan layout these days. It’s great for collaboration and spontaneous working. However, not everyone benefits from an open plan space. Make sure you offer some closed rooms for those who need to get on with quiet work. Having a balance creates space for both types of work.
That’s all for now, folks! Don’t forget to check out the other business blogs before you leave.

The Connection Between SEO And Social Media: Using Social Media To Boost Your Web Presence

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Believe it or not, but your social media presence has a direct impact on your search engine rankings. Whether you’re a small business, a blog or a giant corporation, the same is true. The world wide web is essentially a giant game, and it can be mastered. As long as you have an understanding of how all the pieces work, you’ll be sure to dominate.

How are SEO and social media connected?

For years and years, a company website was really the only way to find that company online. Twitter wasn’t even launched until 2006, and Facebook was two years earlier.

As such, these social media platforms are still… well, new, for lack of a better word. They’re very early on in their life cycles and have a long way to go.

In short, we use social media to follow those businesses and personalities we care about, but we rarely find them through social media. Have a quick Google of ‘Coca-Cola’ or ‘AMC’ and the first result will always be their site.

Their social media will be a bit further down the page, and that’s how we should think of the two. The website is the tree, and social media is the branches.

Those websites aren’t the top result by accident, either. They’ve been optimized to within an inch of their lives! In terms of SEO, there are a ton of basic tips that can go a long way. Jeff Millett at TheSEOWhiz.com has some great general SEO advice that can help you boost your web presence.

And, what’s more, a lot of these link right back into your social media pages. It’s important to think of your Twitter and Facebook as little side projects, and start prioritizing them. Use them in conjunction with effective website practices to get the best results.

There are several key ways that social media can give a boost to your SEO, and several key ways that it will define your SEO. Social media is changing our world, so don’t get left behind.

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Social media shares count as link building

When you post something to Instagram or Twitter, there’s a chance it will be shared. Link building is a way for companies to place links back to their website all over the web, creating a widespread presence.

When somebody shares a post you created, this is effectively another ‘link’ back to you and your page. Social media sites are arguably the most credible in existence as they rely on user satisfaction. So, a ton of shares will be looked upon favourably by search engines.

Gives a boost to relevant keywords

There are only so many places you can place keywords on your website, but social media gives you another place to do so. Most companies will have a short description of themselves in their bio, with relevant terms embedded in it. In addition, all the tweets and posts they write are another way to embed search terms, meaning your power is relatively unlimited.

So, hopefully, this article has cleared the subject up for you. If you’re new to social media and SEO, they can both be daunting tasks to take on. In reality, they’re simple and effective tools on your web utility belt. So get out there and get building!

Starting Your Own Business: Top Tips For Success

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Deciding to start up your own business is a massive step to take in life. However, it is one which you are unlikely to regret – provided that you follow certain pieces of advice. Many people try their hand at business every day, and success stories are common enough as to be pretty encouraging. However, it doesn’t take too much research to also find accounts of the opposite occurring. Unfortunately, people fail in business just as much as they succeed. The good news for any budding entrepreneur, however, is that these failures can be used as inspiration. There are few more effective means of getting going in business than by learning from the mistakes of others. If you are currently starting your own business, it might be a good idea to look into the things that commonly go wrong for business owners. That way, you know what to watch out for. This short guide will help to get you started on that journey. Here are some top tips for success in your new business.

 

Don’t Rush Anything

This is absolutely the number one piece of advice for those starting out in the world of business. There is no part of the entire process that is improved by rushing it. The problem that many business owners face is that they get too excited too early on. This is common, and understandable. After all, the reason you are starting a business is because you have a fantastic idea which you are passionate about. It makes sense to want to get the ball rolling as fast as possible. But the truth is, this does not make for a successful venture. Learn from others’ mistakes: take it slow. There really is no rush. Before you do anything, sit down and draw out a detailed business plan. You will be grateful that you did.

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Embrace Outsourcing

In the early days of business, you want to spend as little money as you can. This should be obvious to anyone wanting to run their own company. The less you spend, the better. One of the best ways to keep a tight budget early on is to outsource as much as you can. Much has been written on outsourcing, of varying opinions. But the fact is, outsourcing is a fantastic way to get the work that you need doing done without paying through the nose. Certain areas of business really suit outsourcing in particular. Managed IT services are, for example, ideal for this. Don’t be afraid to embrace the power of outsourcing as early on as possible.

Hire Decent Staff

Finally, there is nothing more important to your business than the people you hire. Your employees are the central core of your business. There is an old saying that says that looking after your staff is tantamount to looking after your clients. It’s true: hire passionate people who really care about what it is that you are doing with your business. Then, ensure that they are well looked after. This is a short and simple recipe for business success, so you would be wise to consider this above all else.


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Find Out What A Digital Agency Could Do For Your Business

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If you are trying to get your business noticed in 2016, we suggest you hire a digital marketing agency. You can think of a marketing agency as a huge promotional force like an ocean wave, surging your business forward into the market. They don’t just promote your company on one level. They will use every tactic you can think of to make your business a hit. Here’s why you need the help of a professional marketing team if you want to ensure your business comes out on top.

 

Marketing Isn’t Easy

There’s a common misconception among new businesses that marketing a new company is easy. This assumption is derived from the fact that marketing and promotion can be completed entirely online. While this is true, it hasn’t made the situation any easier. If anything, you’re facing more competition than ever. You can’t just put a few links on your business site and hope for the best. You need to run a complete and orchestrated marketing campaign. A digital agency can help you with this.

 

Modern Marketing Is Submersive

You might have noticed that modern marketing isn’t just about SEO. It’s about connecting with an audience through social media and other forms of interactive promotion. Businesses make this look easy every day. They make it look like it could be completed by someone in their spare time. But working behind the scenes of that promotion, there’s a busy staff completing constant updates. You can hire a marketing agency, or you can hire extra staff in your business. The choice is yours, but it is a decision you’ll have to make. It’s too much effort for someone else in your business to add this role on to their already busy schedule.
Outsourcing Is Cheap

By hiring a marketing agency, you are outsourcing the issue of marketing in your business. That’s a good idea because hiring a full-time marketing team is going to cost your company a fortune. You can save on costs by hiring a marketing agency and getting the same, full benefits. At the same time, a marketing agency will have more resources for your campaign that you don’t have to pay for. If you want the same benefits in your business, you’re going to need to buy the additional software marketers will be using.
The Marketing Industry Is Booming

If you’re worried you won’t be able to find a professional marketing team that suits your business, think again. The marketing industry is booming right now, and that means there are plenty of agencies available to hire. CandidSky provides a full marketing service for your company at a price you can afford. It’s the big marketing service a small business might need to expand their reach.

 

You Need To Avoid Penalties

Of course, the most important reason to hire a marketing team is to avoid penalties. A trap business owners who self-market fall into is using low standard marketing methods. Marketing agencies would never consider using these because they know the result. Blackhat marketing will cause your business search ranking to plummet. It’s the last thing you want, and that’s why you should get a professional behind the keys of your marketing campaign.

How I Hack A Conference With #SocialSelling by Peter Strid

You can’t attend every industry conference.  But you can make it seem like you are there…you can join digitally…you might even find a new deal like I have!

There was a recent industry conference, let’s call it “SocialSlam15!” being held in California an exclusive resort.  A great opportunity for me to rub elbows with my peers and prospect audience of marketing and sales leaders interested in Social Selling!  I had one problem; for those who know me, I broke my leg a few months ago and had a date with an orthopedic surgeon I couldn’t miss, so I couldn’t physically attend.  I decided to do the next best thing…Hack it to make people think I was there!  (I also saved thousands $ in airfare, hotel 😉

My #SocialSelling Conference Hack was accomplished primarily using Twitter, LinkedIn, Email, Text Messaging and, yes, Periscope.  My outcomes were better than anticipated.  I attracted a bunch of new Twitter Followers and unsolicited LinkedIn Connections.  I had 4 existing clients and 3 net new prospects literally reach out to me wanting to get together with me while I was “at the event” because they thought I was sitting in the resort with them!

Evidence:

I even received an unsolicited job offer from an attendee of “SocialSlam15!” (Thanks but no thanks).  The best part of it all;  I anticipate closing at least one Net New Deal because of my activity there!

Here are a few examples of the type of activity during the “SocialSlam!” Event that made my presence known:

1) I start with a post on LinkedIn…a simple screen capture of a picture of the key note speaker that I borrowed from another attendee’s tweet.  Here’s a simple example of a conference being held right now in NYC called “Uncubed”.  Looks like I’m sitting in the front row.  Some people on my team even thought I was in NYC today after seeing this post!  

2) I tweet the same content to take advantage of the many attendees referencing the #hashtag throughout the event.  I also “tagged” the Uncubed team.  I’m starting to get noticed!  And I could continue with more tweets and posts… 

With the rest of this post I’ll describe how I can “attend digitally” without physically being present and while saving $5000 and 4 days away from my office. I am engaging with peers and prospects not in an attempt to trick them, but an important observation is that when people gather physically at a conference, they also gather digitally. This creates an opportunity to engage – whether you are there physically or virtually.  I’ll use an awesome upcoming Conference that I’d like to attend as an example: Selling Power Magazine’s “Sales 2.0” Event in Philadelphia!

Make Yourself Known!

1) Your best results will come if you get a head start.  Before the kick off of the conference you are targeting, do some research. Review the website of the conference for basic details…Location, Timing, Agenda, Speakers, etc…

2) Find the twitter #hashtags associated with the event.  Usually the conference website will have point you to their twitter handle where you might find some info.  In the case of this upcoming Selling Power “Sales 2.0” conference the #hashtag is: #s20c.    3) Follow as many of the speakers and conference affiliates on Twitter that you can find…this will help you get them to notice you and set you up for tweeting about them when they are on stage. 4) Make your excitement and anticipated presence known by tweeting that you will be there!  A few tips…add an image such as the logo of the conference, use the event #hashtag, tag the speakers (you can tag up to 10 people). Every time someone interacts with the tweet they will be notified!  

5) Along with that tweet, make yourself known on LinkedIn as well.  Here I have re-purposed that tweet on LinkedIn by uploading a photo…again making sure to tag the key note speakers.

6) Be sure to retweet, “like” and engage with some of the current activity from the speakers…especially if they are already tweeting about the event!  Also pay close attention to the #hashtag in the days leading up to the event…you might find something to take advantage of.

I’ve outlined the basics of the beginning of my activity.  Leading up to the show I will continue to follow the #hashtag and “like” and retweet select posts.  It’s important to be creative and have some fun with it.  Some events post updates to their blog or website, some even live broadcast.  Use these to your advantage…listen and pull sound bites that you can retweet and credit the speaker.  Speakers love being on stage and they LOVE when people boost their egos with tweets of their presentation content.  People will retweet you and you will be on your way to being there. (Almost!)

This strategy can be incredibly fruitful.  I have literally closed deals because of this type of behavior.  For more detail on how I proceed on “gameday”, reach out to me. I have a lot more tricks…too many to list here; things like how to use Periscope for live action or even YouTube. If you’d like me to teach you or your sales team how to do this in your industry, please reach out to me…I’d love to help.

Have any hacks of your own that are similar…please share them below!

If you found this post useful…send it to your friends.  Nothing better than a nice share to your followers!  Thanks!

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Small Business Mistakes That Can Be Fatal

You are a small business, and you are going to make mistakes. It is all part of owning and trying to build a successful company. The problem is that there are some mistakes you can’t afford to make. If you do, you could put your entire business in jeopardy. Because small businesses make big mistakes the most, your business is the most culpable. The only way to make sure that you don’t make fatal errors is to avoid them at all costs. And, to avoid them, you need to know what they are.

A Can-Do Attitude

For the most part, a can-do attitude is a good attitude because it helps you overcome lots of obstacles. However, you can’t take it too far and do everything alone. There are some things that you should never attempt on your own because they are out of your comfort zone. Instead, you need to outsource them to a team of professionals. That way, your business can flourish.

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Not Paying Tax

Of course, most businesses pay what tax they think they owe. But, that is an important distinction. What you think you owe and what you owe are two different things. Your business could have payroll tax problems and not even realize it until the IRS knock on the door. Tax is complex and hard to understand, which is why you need an accountant. With their expertise, they can keep you up to date and out of jail.

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Borrowing Money From Employee Withholding

The money that your employees pay you in tax and as part of their pension is not your money. It is their money, and you should never touch it at any time. There are business owners that think they can dip into it for a short while until they are back on their feet. And, it may work. But, you are personally liable if it doesn’t work. Not only can your employees sue you, but they can sue the business too. In simple terms, they can take everything you own. Forget about employee withholding and take out a business loan instead. It isn’t as cheap, but it’s much safer.

 

Paying Yourself Whatever You Please

As the big boss, you can pay yourself as much as you want, right? Wrong. You can’t increase your wage without giving the IRS a good reason. Otherwise, they will view it as unreasonable compensation and take it off you. Or, they might distribute it as a dividend so that you’ll have to pay corporate tax on the dividend. Then, the extra money won’t seem like much after they get their hands on it.

 

Trusting Everyone

Sorry to sound cynical, but you shouldn’t trust people because everyone has an agenda. And, even though you are the boss, your position isn’t safe. Don’t just take people’s word when they tell you their story – demand proof. Otherwise, they could take you for a ride.
Mistakes like these cost businesses a lot of money as they are big mistakes. Please don’t go down the same route