Effective Meetings – Be Quick on Your Feet

business (10)There are many trends and fads in business.  Some of them take hold and become part of the status quo and others fade away.  One of the current fads, which may develop into a standard operating procedure, is the concept of stand up meetings.  The idea is developing legs (pun intended) and becoming more common.

While it may be seen as innovative in the sit down meeting business culture it’s not a new concept.  Julius Caesar didn’t allow his commanders, or anyone else, to sit during battle planning strategy sessions in the field.  During World War I some military leaders only had stand up meetings.

The current stand up meeting idea may be traced to a group of software developers.  In 2001 they published the Agile approach to software development.  This method divides projects into smaller and more manageable components.  In daily stand up meetings participants quickly update their peers using 3 criteria: what they’ve done since yesterday’s meeting; what they’re doing today; and what obstacles stand in the way of getting the work done.

One of the objectives of this approach was to drastically reduce or eliminate the long-winded, self serving, CYAing and dishonest reports which are presented in many meetings.  Another goal was to get people to participate, collaborate and be more creative – to stop shopping and playing Candy Crush on their devices.

The preliminary field reports, as well as a small group of research studies, show that stand up meetings meet these goals.  In 1998 Allen Bluedorn, a business professor at the University of Missouri, found that standing meetings were about a third shorter than sitting meetings, while the quality of the decision making was about the same.

A 2014 study by Markus Baer and Andrew Knight, Washington University St. Louis, found that people who stand up in a meeting are more creative, collaborative, pay better attention and less likely to be bored.  They open up and contribute to the discussion more than seated people.  Also, participants were less territorial with their own ideas, while being less critical and hostile towards others suggestions.
(Side bar – In addition to the idea of stand up meetings, managers might consider adopting an overall non sedentary workplace strategy.  Research is showing a correlation between sitting too much and poor emotional, physical and mental health.  The sale of standing up desks has increased dramatically as people become more aware of the benefits of standing vs. sitting during the work day.)

Standing up during meetings, and during the work day, makes good sense and is shown to be an effective business practice on a variety of levels.  Optimistically, it’s a fad that’s on its way to being a standard practice.  After all, the idea worked pretty well for Caesar while he was conquering most of Europe.


The BWC Settlement Agreement

business (8)After a long battle and many years of unfair rates to small business owners, the BWC has to pay $420 million to small businesses all across Ohio.  The ruling came last Thursday and agreed with a ruling from 2013 that states that the BWC must refund millions of dollars to small businesses owners. Now that settlement has been reached many small businesses should be getting refunds ranging from a few pennies to millions of dollars according to some reports.

To read more follow the links below.


Ohio Bureau of Workers’ Compensation reaches $420M settlement agreement over rigged premiums

The Ohio Bureau of Workers’ Compensation has reached an agreement to pay $420 million to settle a years-long legal battle over allegations it overcharged business owners for workers’ compensation premiums.

The agency would create a fund to repay the more than 250,000 businesses that were overcharged between 2001 and 2008, according to the settlement disclosed Wednesday.

In a class-action lawsuit filed in 2007, thousands of mostly small-business owners accused the bureau of rigging the system to benefit participants of a special group-rating plan. They asked for $1.3 billion in damages then.

The Ohio 8th District Court of Appeals in a scathing decision in May called the system “a cabal of Ohio Bureau of Workers’ Compensation bureaucrats and lobbyists for group sponsors who rigged workers’ compensation insurance premium rates so that for employers who participated in the BWC’s group rating plan … it was ‘heads you win,’ and for employers who did not participate in the group rating plan … it was ‘tails you lose.’ ”


Columbus Small Businesses Endorse Same Sex Marriage

COLUMBUS, Ohio – Over 250 small businesses in Columbus endorsed same sex marriage on Monday, many saying it would boost business.

“When legislators talk about jobs, jobs, jobs they need to think about this,” said Mark Dempsey, owner of Dempsey’s restaurant.  “When you go to get married there’s a celebration involved. There’s the wedding reception, the wedding itself, there’s flowers, there’s cakes, there’s wedding rings.”

Dempsey’s downtown restaurant is no stranger to politics.  On the walls you can find pictures of everyone from Warren G Harding… to Tip O’Neill and the Gipper… to honest Abe.

Dempsey was joined by other Columbus small business owners today to endorse marriage equality in Ohio.


Kasich approved increase in Ohio’s small business income deduction

Ohio Governor John Kasich recently signed a bill that, among other things, increases the small business income deduction from 50% to 75% of the first $250,000 in net business income.

In an effort to grow Ohio’s economy, last year the Ohio budget bill included significant tax law changes to deliver a $2.7 billion tax cut to individuals and businesses, over the course of three years. The changes included:

• A small business tax cut that enables owners/investors to deduct from taxable income 50% of the first $250,000 in net business income.

• A 10% personal income tax cut to be phased in over three years. In 2013, Ohio tax rates were reduced by 8.5%.

• New assistance for lower-income Ohioans in the form of an Earned Income Tax Credit (EITC) equal to 5% of the amount claimed for the federal EITC.


It Doesn’t Stop at Adolescence – Negative Peer Pressure in the Workplace

business (1)Peer pressure.  Everyone knows what peer pressure is, they’ve seen the afterschool specials, heard the lectures in 9th grade health class and had multiple adults in their life say, “If _____ jumped off a cliff would you do it too?”  When people talk about it they’re often talking about it in terms of children and teens. But, peer pressure is an issue which never goes away.  This is especially true in the workplace.

Millions of people have been known to say, “This job is just like being in high school again”.  Peer pressure is one of the reasons they say this, yet it’s not addressed with adults in the workplace nearly as well as it is with children and teens in school.  There’s an erroneous assumption that people grow out of their susceptibility to it as they age or mature.

Unfortunately, many people struggle with it throughout their lives, particularly in their employment.  Countless have identified it as their reason for quitting or getting fired from a job.  Almost 80% of people report having been negatively influenced by – or doing the influencing themselves – their co-workers into doing something they didn’t want to do.

There are 2 main categories which employees identify as having been negatively affected by peer pressure.  First, is drinking on the job and/or drinking too much at a company function, which resulted in personal and professional consequences.  The second category is being influenced to steal company resources: time, money, property or services.

Peer pressure, both negative and positive, is important for a company to be aware of and address.  It’s the way corporate culture is formed and maintained.  Employees develop shared ideas, assumptions and ways of behaving, which determine how they perceive and perform their jobs.  It’s how people think and act on a daily basis that most affects the bottom line.   As Nathaniel Banks said, “We have more to fear from the opinions of our friends than the bayonets of our enemies.”


 

Are you Ready for Retirement?

business (9)There are many compelling reasons why business owners should pay more attention to their retirement plans.  Often times the responsibility to fund a pension plan for them and for their employees fall on the shoulders of the business owner and more times than not it is relegated for a later date that never comes. Here are three compelling reasons why you should talk to an accountant and financial advisor to help you plan for your future.

  1. It is a financial responsibility you have to your employees and yourself to secure a future that will provide financial stability later on.
  2. Talk to an accountant or financial advisor for potential tax benefits for your business when setting up a retirement plan.
  3. Having a retirement plan can secure your top performers or attract new ones that can benefit your business.

Read more about this and other news by following the links below.


Preparing Small-Business Owners for Retirement

Advisers also can help clients figure out what to do with their time after they retire.

Small-business owners often are so busy working that they don’t take time to plan for their retirements.But that is clearly a mistake, financial advisers say.In turn, advisers are helping these entrepreneurs more accurately value their businesses as well as their personal expenses, and figure out how to spend their time once they…


Small business hiring cools off in July

Not quite the blistering pace reported in June.

Hiring by small businesses cooled off this past month, mirroring a similarly modest slowdown across the broader economy, according to a new report.

Small employers added 84,000 workers in July, down from a two-year high of 126,000 new positions added the month before, according to payroll processing firm ADP. Initially, the company had reported that small businesses (fewer than 50 employees) had added 117,000 jobs in June.

Overall, the economy added 218,000 positions in July. While that’s down from 281,000 last month, it’s otherwise the highest monthly total since November.


Workers are finally getting raises again

One more sign that life is improving for American workers: paychecks are finally growing faster.

The Labor Department reported Thursday that workers’ wages and salaries grew by a seasonally adjusted 0.6 percent during the second quarter, the fastest pace since the third quarter of 2008.

Wages and salaries only make up 70 percent of total compensation, including benefits. Total compensation costs as a whole also grew by a seasonally adjusted 0.7 percent during the second quarter.

Though it’s true that wage growth was much faster before the Great Recession, the news is still a sign that the labor market is tightening, as increased demand for labor helps boost paychecks.

 

Marketing Tips and Tools you Must Know About

business (4)The Ohio Small Business Development Center offers great advice and solutions for those entrepreneurs wanting to start a business in the state of Ohio.  From the planning stage to filing legal forms and permits the center offer steps, forms, phone numbers and links to the web sites you may need to begin your journey.  For the marketing and other tools you may need to compete with the big guys, here we offer you articles that can offer you solutions to some of your business decisions for now and in the future.


6 Marketing Ideas Small Businesses Can Learn From Big Brands

Marketing veteran Rob Schuham spends a lot of time encouraging big brands to act like small companies. Be nimble, he advises, be creative, be agile. Take a risk, he tells them, and act like a startup.

And when major clients on his roster at Denver-based Match Action Marketing have listened to his counsel, they’ve backed some groundbreaking campaigns that are instructive not only for their Fortune 100 brethren, but to the little guys, as well.

“If you get a marketing program right, you can set a category on its head,” said Schuham, CEO of Match Action. “The big guys have scale, so they can be kind of a beta test for innovative marketing. Small companies can find useful data points and adapt some of those tactics for their own purposes.”


Three tools every small business can’t do without

Technology can make or break a small business, both at launch and when success has it scaling up. Here are three-must haves to ensure professionalism, maximize productivity, build market share and save money for businesses with 1-10 employees.

Telephony

The phone is still the most common way that your customers, partners and suppliers will communicate with you, so don’t cut corners. But don’t spend more than you have to, either.

For starters, get a dedicated business number. There are services that offer a free basic phone number, or, based on your business needs, you can get a low-cost monthly subscription virtual PBX service, like Cloud Phone, that allows you to get a toll-free or local number with more advanced business features, such as ability to add employee extensions.

Next, decide whether your employees really need deskphones or whether tablets and smartphones are a better fit for their work styles. If it’s the latter, eliminating deskphones can easily save a couple hundred bucks up front in hardware, plus $30 or more per month per employee in service fees. Those savings are a major reason why so many businesses are ditching deskphones in favor of VoIP softphones on tablets, smartphones and laptops.


Why Your Content Isn’t Going Viral (Infographic)

You wrote a kick-butt blog post.

You worked for days on that video.

You stretched all of your graphic design muscles to make an infographic.

And no one shared any of it.

Ouch. You have good content, but it just can’t seem to get any shares.

It doesn’t have to be that way anymore. Who Is Hosting This has  an infographic that explains why your content won’t go viral, and how you can make it do so next time. Here are a couple of the infographic’s tips:

1. Appeal to emotions.


Should Ohio Raise the Minimun Wage Again?

business (3)The 2014 Ohio minimum wage beginning this past January went from $7.85 to $7.95 a bit more than the Federal national wage of $7.25, and now the small business community supports a higher minimum wage that some experts believe is good for the economy.  For more news about this and other topics follow the links below.


Why we still don’t know how many small businesses signed up through Obamacare

And why it’s probably not very many.  

In contrast to the widely publicized enrollment numbers on the health care law’s individual marketplace, there’s apparently no way to know how many business owners and employees have signed up through the law’s new small-business exchanges.

By all indications, though, it’s not very many.

One House Republican has twice asked federal health officials to provide data on how many owners and employees have enrolled in and paid for plans through the law’s new insurance marketplaces for small businesses. Since the launch last fall, the employer portals, known as SHOP exchanges, have suffered even more technical problems and delays than the exchange for individuals and families.

“The SHOPs opened, although without online enrollment and many promised features, on October 1, 2013,” Rep. Sam Graves (Mo.), chair of the House Small Business Committee, wrote in his latest letter to the Centers for Medicare and Medicaid Services, which oversees the exchanges. “Over seven months later, we still do not have any federal and some state SHOP enrollment data.”


A Higher Minimum Wage Is Good for Business

Small business owners realize the benefits of higher pay and a stronger consumer class.

Five years ago this month, the minimum wage reached the lofty sum of $7.25 per hour, the last step in a series of increases Congress set in motion in 2007. It hasn’t been raised since, and after taking inflation into account, the minimum has fallen to an adjusted level of only $6.54. That may change soon. Support for a higher minimum wage now comes from an unlikely source: the owners of America’s small businesses, and CEOs of some the nation’s largest and most respected brands. Meanwhile, recently published research shows that wage hikes at a modest level don’t kill growth and jobs. In fact, the states that have raised their minimums have enjoyed above-average economic growth.

Last week the American Sustainable Business Council and Business for a Fair Minimum Wage released a report of a scientific national poll of small business owners. The poll involved a live telephone survey of 555 small business owners, with between 2 and 99 employees each. Respondents spanned the political spectrum, all regions of the country and a broad cross-section of industries.


Net neutrality important to small businesses, customers

Let me offer the following small-business parable:
Lou owns a small business, a pizzeria, in a city with only one highway.
Everyone must use this one highway to get to work, go shopping, see a movie and connect with friends. It’s a critical infrastructure for the whole community.
Lou uses the highway for home delivery of his pizzas and to get supplies for his restaurant.
Until now, everyone in the city could use the highway equally. But the on-ramps to the highway are privately owned.
Even though the highway was built with government money, one day the on-ramp owners decided to create a fast lane. Now you have to pay them a lot to get anywhere if you want to get there quickly.

Lou’s competitors — huge national pizza chains — can afford to pay this toll. But Lou can’t, so he’s always stuck in the slow lane, which is more crowded than ever.

When a football fan orders one of Lou’s pizzas, it arrives in the fourth quarter instead of at halftime. Lou loses a lot of customers because the highway isn’t open to everyone equally.


Social Intelligence – A Leadership Imperative

business (7) We all know someone who’s smart, whose intelligence is unquestionable.  Yet, he or she is socially awkward, has few friends and struggles being successful personally and professionally. They often say the wrong thing at the wrong time in social situations because they’re unable to read the crowd.  They usually aren’t achieving what they or others believe is their full potential.

In the past it was thought that a person’s professional and personal potential could be measured and predicted by their Intelligence Quotient (IQ).  But, this theory is limiting and doesn’t adequately identify the diverse human behaviors needed to achieve success.  Intelligence is multidimensional and comprised of different, overlapping and equally important subsets.

Social Intelligence (SI) is one of the subsets and is often referred to as “people skills”.  It used to be believed that people either had them or they didn’t.  Fortunately, while some of the “skills” are innate, SI can be studied, practiced and learned, which is positive news for anyone wanting to be an effective leader.

A successful leader must be able to connect with people, then effectively influence and motivate them to collaborate.  This is accomplished through understanding social and group situations and the dynamics which govern them.  SI is the ability to observe people’s interactive styles and use the knowledge to develop effective strategies, which help a leader achieve his or her objectives though others.

However, SI is not limited to reading other people well.  An influential leader has awareness of and insight into their own perceptions and reaction patterns. Through experience and on-going education they learn to accurately assess the impact of their behavior on others, using this knowledge to lead and inspire.

It’s assumed that people automatically learn to get along with others as they mature and gain experience.  Unfortunately, a quick look around the typical workplace shows this is not the case.  Most people don’t continue to learn and grow as they age – they never acquire the awareness and skills needed to succeed in professional or personal social situations.

Nevertheless, people who lack insight and competence, when interacting with others, can make significant improvements in their SI abilities at any time regardless of their age or circumstances.  And once the basic skills and knowledge are learned they’ll be able to experiment with additional behaviors and new interaction strategies.  Social Intelligence can increase throughout one’s life giving anyone an improved chance of reaching their full potential.


BWC and Other News

business (1)News about Ohio and what is happening in the state are important to all of us.  News about the Ohio Bureau of Workers compensation refusal to pay small business across Ohio what it owes them is not only negligent but devastating to the morale of Ohio Businesses and the local economies.  Small business owners deal with a myriad of issues in a daily basis, making government issues not only hard for them to do but impossible to fulfill is an obstacle and encumbrance to the well being of our economy.


Pressure Mounts On Gov. Kasich To Force BWC To Pay Back Small Businesses

COLUMBUS, Ohio – Pressure on Gov. John Kasich to pay back hundreds of millions of dollars to more than 250,000 small businesses is mounting.
An NBC4 investigation into overcharges that sunk thousands of small business across Ohio is now going statewide.

An advertising campaign based on the NBC4 investigation is set to air on TV Friday, asking Kasich to get involved in the payback.

Ron Foreman is front and center in an ad campaign aimed directly at Kasich.

“I gathered my family together and told them, ‘Things are going to have to change because Daddy is going to have to file bankruptcy,'” Foreman said in the commercial.


Kasich plans small-business swing to 3 Ohio cities 

HAMILTON, OHIO: Ohio’s governor will focus on small businesses in a swing through three western Ohio cities.

Gov. John Kasich has Tuesday stops in Hamilton, the Dayton area and Tipp City. The Republican is seeking re-election this November. He will begin the day at Hamilton Caster, a business that makes casters, industrial wheels and other products and dates back more than a century in the Butler County seat.

A campaign announcement with the National Federation of Independent Business/Ohio is planned there. The small business association recently announced its endorsement of Republican Attorney General Mike DeWine’s re-election.


Ohio entrepreneurs should learn about new health coverage options: Grant Lahmann

Pundits and politicians from Ohio to Oregon have spent years bemoaning the new health care law and its impact on the economy, and on small businesses, in particular. But the law has been in full effect for six months now, and the real-life implications of it are anything but dismal.

A recent report shows the Affordable Care Act actually increased the gross domestic product for the first quarter of 2014, and here in the Buckeye State, almost 155,000 individuals, self-employed and small business owners and their workers have already found affordable insurance through the new insurance marketplace created by the health care law.

In case you’re not already familiar with it, Ohio’s marketplace has two branches — one for individuals, the other for small businesses. The individual marketplace is available to any self-employed individual or small business employee whose employer doesn’t offer insurance. Open-enrollment for the individual marketplace is closed, but enrollment for 2015 begins on November 15 this year.


Small Business Hiring And Other News

business (1)It is always good for the small business owner’s morale knowing hiring is up and the economy is recovering.  According to recent numbers, hiring in June has been the strongest since two years ago, and that can only be good for the US economy and the small firms across the United States.  For more info about this and other stories follow the links below.


Small business hiring surges to fastest pace since early 2012

Now that’s more like it.

Small businesses nationally added 117,000 jobs in June, a 60 percent increase over their average for the first five months of the year and the fastest pace of hiring since early 2012, according to the latest numbers published Thursday by payroll processing firm ADP.

More than the companies in any other size category, those small firms pushed the overall job numbers last month to 281,000, the highest mark since fall 2012. Construction, transportation and professional services sectors posted the steepest gains.

“The job market is steadily improving,” Mark Zandi, chief economist for Moody’s Analytics, said in the report, noting that the gains were “broad based across all industries and company sizes.”

Still, it’s a particularly important rebound for the county’s smallest employers, who are often lauded as the most steady job creators but hadn’t cracked six-digits in monthly job gains since November. In addition, June was the second straight month that small companies have contributed more than 40 percent of all jobs created — a mark they fell shy of during the first four months of the year.


The Not-So-Small Business Administration

Last month the Small Business Administration updated the criteria it uses to determine what qualifies as a “small business” for the first time since 2008. The formula varies by industry, sometimes calculated by number of employees, other times by annual revenues or total assets. Thanks to the change, approximately 8,500 more companies (some with more than 1,000 employees) will now be eligible for the designation—and the federal assistance that goes with it.


Modern Tools for Mom-and-Pops

MOUNT KISCO, N.Y. — Operators at KES Dispatch keep track of the company’s taxis on a yellow legal pad. They communicate with cars using a two-way radio. Drivers navigate their journeys largely by memory.

In the age of Uber and Lyft, the company is desperate to modernize.

“I gotta change something,” said Miguel Duarte, who has run his Mount Kisco, N.Y., company for 13 years. “I gotta stay ahead of the competition.”

Help is on the way. Dashride, a new start-up, wants to give KES Dispatch a fighting chance. It is helping Mr. Duarte modernize his company’s clunky dispatch system, starting with a mobile app that will soon let customers book, track, pay for and rate rides.

Dashride is just one of several web-based start-ups with a mission of empowering small, local businesses — often in struggling, traditional industries — by equipping them with tools and strategies that could help them keep up with changing times.

For example, Cups, a coffee subscription app that came to New York in April, helps independent coffee shops compete with giant chains like Starbucks and Dunkin’ Donuts. It is working with 50 small shops in Manhattan and Brooklyn. ShopKeep, a New York company, helps small businesses ring up sales, accept credit cards, email receipts or print remotely with an iPad-based checkout system.


Vacations Are Important For Your Bottom Line

business (2)Job related stress is universal.  Almost everyone has had job stress negatively affect them personally and professionally, sometimes on a daily basis.  Even people who thrive on it will admit there are times when it’s too much for them.  One of the greatest relievers of work stress is taking time off, whether it’s 1 day or 2 weeks.

And yet there were 429 million unused vacation days in the U.S. last year.  Many Americans don’t take enough time off – to their own and their company’s detriment.  Fore-going time off isn’t healthy, profitable or productive for people, companies or the economy.  It’s estimated those 429 days would have generated $160 billion and created 1.2 million jobs (mental_floss, July 2014).

It’s well documented that chronic stress takes its toll on the body: it decreases the ability to resist infection and maintain vital functions, increases accidents and injuries, creates sleep disturbances and can even negatively alter genetic material at the cellular level.  It’s equally well researched that chronic stress creates mental health issues: irritability, depression, anxiety, memory difficulties, poor decision making, social isolation, poor impulse control and loneliness.

Vacations help break the stress cycle by getting people out of their usual work schedules and habits.  Time away can be a 3 day weekend staycation or 2 weeks in Finland for the Air Guitar World Championships.  The essential part is to do something that’s a healthy break from the stress and routines of work.

A healthy break means different things to different people.  It can be: restful and recuperative, challenging and exciting, a religious pilgrimage, a decadent spa visit, seeing new cultures, or spending time with family and old friends.  It’s important to identify the desired benefits and how to achieve them before the vacation is taken, to be pro-active.

Unfortunately, vacations are often poorly planned and executed, too expensive and as stressful as the job people are taking a break from.  They don’t take time to think about what would be beneficial and what they actually need.  A little self awareness and planning can keep them from making the common mistake of needing a vacation from the stress of their vacation.

Every workplace has some form of stress, therefore, employers and employees alike can greatly benefit from time off.  Some companies have recognized this fact and made it mandatory for everyone to take all of their vacation time.   A mentally and physically healthy work force, capable of coping with workplace stress, goes a long way towards efficient productivity and successful profitability.