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Monday, July 26, 2010
When it comes to putting information out over the Internet ... I hold everything pretty close to the chest. But I must have done something in a past life that has gotten me on every business opportunity sucker list in the country. There isn't a week that goes by that I don't have emails slipping through my spam filter inviting me to a seminar that will change my life or promises just by opening my checkbook I'll be on the way to changing my address to 840 Easy Street, U.S.A. I don't really think I'm any smarter ... or less ...
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Tuesday, July 20, 2010
There never seems to be a lack of challenges when it comes to finances ... especially when you’re trying to balance both your business and personal income and outflow! If you’re like tens of thousands of entrepreneurs across the country it’s not unusual to have to make some tough financial decisions from time to time ... “Who do I pay this week? The credit card company that I know is about to hit me with late fees ... or the printer who is holding my direct mail piece that I hope will bring new customers and dollars in the ...
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Tuesday, July 06, 2010
Q. I use independent contractors and have heard horror stories about businesses being nabbed by the IRS for not treating independents as employees resulting in fines in the thousands of dollars. How can I protect myself from getting in trouble with the IRS? A. The independent contractor question has been an ongoing “gray” issue with the IRS for years. All you have to do is read IRS publication 15 (Circular E) to see how convoluted the definitions of employee and independent contractor are. While there have been and are efforts in Congress to get a more definitive clarification on ...
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Tuesday, June 29, 2010
While small businesses are still trying to come back from the economic downturn, many are starting to see some improvement, even to the point of hiring employees. That’s a nice improvement compared to the last two years when NASE ShopTalk consultants were fielding lots of calls from members on how to downsize their work force. And after talking with hundreds of business owners in that position one thing was really clear ... many employers didn’t know what they could and could not do as required by law. Things like how to deal with state regulations and what they had ...
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Monday, June 21, 2010
Question I hired an employee several years ago and as a condition of employment I had her sign a non-compete agreement stating she would not work for a competing business in my industry. She quit earlier this year and went to work for one of my competitors. Can I stop her from working for my competition based on the non-compete agreement that she signed? Answer Not knowing All of the details it is hard to speculate ... however, there is likely little you can do to uphold the non-compete agreement unless she receives some sort of financial benefit ...
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Tuesday, June 08, 2010
Question I am a Limited Liability Company doing home remodeling and am the only person in the LLC. I have no employees as I hire only contract labor but one of my clients is asking for proof of workers compensation insurance. It is my understanding that I am only required to carry workers comp if I have employees but the client is saying I must give them proof of insurance. So, who is right? Answer You are both right. You are right in that while workers compensation insurance requirements vary from state to state, commonly the ...
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Monday, May 31, 2010
Are you planning some vacation time this summer? Or ... does the economy still have you worried and you’re afraid to risk that your business might not be able to afford having you gone for a week? Sadly ... entrepreneur-types can get so blindsided that they put the business ahead of everything else ... including the family ... and we're not sure whether to wear the whole “12 hours a day, seven days a week” attitude as a badge of honor or make it our biggest complaint. One minute we're boasting about how many hours we put in to keep ...
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Wednesday, May 26, 2010
It’s a fact ... most businesses big and small spend the majority their marketing dollars and marketing efforts looking for new customers. Ask a business owner what their marketing goal is and most will tell you, “Trying to entice people to pick-up the phone so the business can dazzle them with their products and abilities”. And while we are so busy trying to get a message out to people who don't know us, we ignore a mother lode of potential customers who have their checkbooks waiting for us to tell them what to put on the pay-to-the-order-of line. So who ...
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Monday, May 17, 2010
Question I've been in business for three years and realize I need help in improving my business. I have read about business coaches and have done some research on the Internet but the more I read the more confused I become. I have also read good comments as well as negative comments from people who have used coaches. How can I find a business coach who can help me in my business? Answer Before beginning your search for a business coach (or other professional) it’s important for you to outline your specific needs and expectations (similar to a ...
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Monday, May 10, 2010
Q. I am planning to start a business and have the option of starting it from scratch or purchasing a franchise in the same professional line. What are the advantages and disadvantages of franchising versus creating my own identity? A. The world of franchising has changed a great deal over the past 20 years … some for the better and some for the worse. While the failure rate of start-up businesses during the first few years is commonly in the 40-percent to 50-percent range, franchises tend to realize a lower failure rate of around 10-percent to 20-percent. ...