The potential for errors when managing your workforce, is high. The likelihood of the errors being costly is just as high. However, this is not necessary. With proper planning from the star, you as an employer can make sure that you understand the following common mistakes and how to avoid them.

In today’s world of digital-everything, nearly every business, big or small, has some degree of an online presence. Some, like e-commerce shops, may operate completely online, while even brick and mortar businesses likely have a website and Facebook Account. However, if you’re not an online-marketing guru, building your business’ online presence can be challenging. We’ll offer valuable tips for maximizing your online operations, so your company can thrive and grow in the web marketplace.

Opening a new branch can be exciting! It also comes with risk. Rushing into expansion and opening a new branch can do more harm than good if you’re not careful can do more harm than good. Increase your chances of success by following these simple steps.

As a business owner, you’re more than likely monitoring a number of key performance indicators (KPI) to determine how well your company is doing. If you’re launching a new business, you’ve undoubtedly heard about the importance of KPIs. Whether related to your financials, advertising, turnover, and/or website traffic, these metrics can be a great way to measure, maintain, and improve a business’ growth.Yet, there are a few metrics vital to a company’s long-term growth that many owners do not track effectively. Ignoring these numbers can keep your company from achieving its full potential. Here are three such metrics that you should keep a close eye on.

One of the main reasons business owners set up corporations and limited liability companies is to shield their personal assets from debts and other liabilities incurred by the business.Corporations and LLCs exist as separate legal entities from their owners, meaning that they can acquire their own assets, enter into contracts, and take on debt. In turn, if a corporation entity is unable to pay its debt off, creditors are typically only permitted to go after the company’s assets, not the owners’ personal assets...

According to NevadaSmallBusiness.com, there are seven legal issues that small businesses face. Let’s dive in and take a look at exactly what those are.

There are many reasons people decide to start their own business:- To be their own boss- Set their own hours-Control the people and projects they work withYet, the reality of business ownership isn’t quite that rosy. It’s actually one of the most stressful endeavors you’ll ever undertake. While running your own company will inevitably have its maddening moments, some of the biggest stressors can be successfully managed if you know how to approach them. Here are three of the most unnerving parts of owning a business and how to handle each of them like a champ!

One of the great advantages of ICs is the lack of oversight, training, and physical space they require. However, you have little control over how they actually do the work you hired them to do. By giving them complete freedom, you are accepting some frustration. Giving workers freedom can be difficult for some business owners that prefer that the work be done using specific processes and/or tools. It is vital that you don’t interfere too much with IC’s work since doing so can result in the IRS re-classifying them as employees, which can result in penalties and expenses.

It’s a simple fact that small businesses fail all the time and for many different reasons, some that are out of the owner’s control. If you’re falling deeper and deeper into debt by keeping your company open, it may actually be best to shut it down and cut your losses.When it comes down to closing a debt-laden business, bankruptcy is one option that will help you to stop the bleeding money and get a fresh start. However, filing for certain types of bankruptcy may not be an available option for your business entity or the best way to go for your personal situation. There are multiple types of bankruptcy filings, each having its own benefits and drawbacks.

One of the more challenging aspects of a business is that you have to manage your staff’s conflict. Dealing with people and personalities is very different than the majority of your other duties where your goal is comparatively straightforward and requires talent and time. Although good management can go a long way, conflicts will inevitably arise due to the inherently tense nature of the workplace. There are always differences in values and viewpoints, poor communication, personality clashes, and unhealthy competition.Without a solid process in place for effectively handling staff conflict, both morale and productivity can decline to the point where your company falls apart. The following five steps provide a solid framework for effectively neutralizing employee conflicts before a petty dispute turns into utter chaos.

While Tax Day isn’t until April 15th here in the U.S., if you own a business and you intend to follow the rules, you’ve already started scrambling. 1099s were due to your independent contractors February 1, and if you are filing an S or C-Corp tax return it’s due March 15th, and then of course person returns are due April 15th.This means that you should make sure your bookkeeper and tax advisor always have what they need from you. If you don’t or you are feeling stressed about the whole tax time scenario, here’s where we can help.

Working as a business owner, rather than employee comes with many benefits. However, it can also throw you into waters unknown, financially and emotionally. Taking the leap into entrepreneurship doesn’t just require a business plan and funding, it takes emotional intelligence- the capability to recognize and work productively with your own emotions and those of others.

Too often people think that business is all work with no play. It’s become the mindset of much of the country. Unfortunately, this very mindset is the mindset that holds you back from reaching your potential. Your happiness matters. However, the pressure of running a business can seem like prioritizing self-care and your overall well-being is next to impossible, or irresponsible. Despite this common belief, the opposite is true. If you set aside your self-care, your business will never succeed to the level you desire. It is a complicated balance that you will only be capable of mastering if you see through the belief patterns that are holding you back. Here is something to look at that can have a big impact on your achievement of true success, going forward.

Entrepreneurs often make up in enthusiasm what they lack in experience. However, passion alone is not enough to ensure the success of a startup. If you’re starting a new business, you need to avoid the six legal snares below.

Just about any business owner, whether they know it or not, has created some form of intellectual property (IP) during their company’s life. IP is an extremely key part of a business. Actually, it’s the most significant part. Your IP can make up 40% to 90% of your company’s total value. When it comes to IP protection, patents protect inventions and trademarks protect brand names, while copyrights can protect a wide range of original creative output, including literary, musical, dramatic, and artistic works, among others.

In everyday life, we see storms come and go throughout people’s lives, sometimes leaving them in shambles. For example, the hurricane that hit the Gulf Coast recently left communities shutdown and devastated. Entire cities were forced to enter survival mode.The primary key to weather these storms that come in everyday life is through preparedness. Unfortunately, many small business owners don’t realize where to start when it comes to devising an emergency preparedness plan.

If you get paid for a service, collecting that payment is the lifeblood of your company. Without it, growth is impossible! Yet, if you are like the majority of people, you have turned it into an postscript idea. For example, I could get a request from a client I’ve worked with a few times before to review her client agreement. What I see is not only an agreement that feels like a big turn-off, but a payment collection process that makes it less likely that her ideal clients would say yes to working with her.

Selling your business should be approached with the same attention to detail as when you start a business. There is nothing worse than wasting weeks of time on a deal that won’t actually go through because the buyer is not serious or does not have the cash to buy out your business. Spend some time to get to know in order to avoid nasty surprises. If you have all your buyers sign a confidentiality agreement before you share proprietary financial information. This is a standard, so if a buyer balks, it’s a red flag.

Before learning how to defeat a Goliath, let’s learn about what a Goliath could look like in your life. Terri Kelly learned this first hand when she was starting a flip-flop company. Terri designed a phenomenal product and worked day and night to get her products into shops, stores, and boutiques all across the United States. To promote her product, she trademarked the phrase: “YogaPants for Your Feet.®” Creative right? That’s what she thought too, and so did Skechers. Before Terri realized it, Skechers stole her trademarked term to promote their own shoes nationally...

With the cost of today’s tuition, paying for a child’s college education can feel like extortion. If your child is an adult, you may have decided that it is up to them to pay for tuition, but if you do want to help them with tuition, there is a way to do that tax free.