Health Coverage For 2015

business (7)Many small businesses look into their health care plans at the end of the year to look for a new insurance carrier, coverage for new employees, or new health coverage plans for the entire business.  Rising prices in health coverage are making small business look at other alternatives, and although reports suggest that the number of insured American is increasing, businesses still need to look into the different health coverage options they have. To read more about this and other news follow the links below.


Small businesses dropping insurance coverage due to Obamacare

Another unintended – but not unexpected – consequence of Obamacare is being felt as the program enters its second year.

More than 20 million Americans who work for small businesses with fewer than 50 employees are covered by employer insurance.  The 50-employee number is significant because if you work for a small business with more than 50 workers, your employer is mandated to cover your health insurance.

But with insurance rates rising, many small businesses of fewer than 50 employees are opting to drop their coverage and have workers purchase their insurance through the Obamacare website.

If employees qualify for government subsidies, like the managers who switched from Italian Oven’s corporate insurance to individual Obamacare coverage, everybody can win.

Owners don’t have to pay premiums, meaning they can give workers raises, invest in equipment or add to profits instead. And employee take-home pay can rise if subsidies — available even to families with middle-class incomes — are worth more than what a company was contributing.


Will You Finally Start Your Own Business? The 3 Stages Of Choice

It could be argued that our lives are nothing more than a series of decisions strung together by contemplation, emotion and sweat. When your decisions involve others – especially those close to you – choosing a path can be mind-bending.

Entrepreneurs face tough calls every day, says Sebastian Bailey: psychologist, author, Forbes contributor and co-founder of consulting firm Mind Gym. “(Entrepreneurs) are faced with decisions around how they assess opportunities, how they make entry decisions, how they’re going to exploit opportunities, how they make exits.”

Each new business owner must search within him or herself to make the tough calls and some entrepreneurs might find that their own spirits stand between them and the right decision in an important moment.


Being Vulnerable in Business Can Be a Good Thing

When it comes to business we have been led to believe we can’t be vulnerable, show our weaknesses or discuss our challenges. Most of us fundamentally believe if we show this side of ourselves, our clients, employees and partners won’t want to work with us and our business will be seen as a failure.

This is completely and utterly untrue.

We live in a world where bravery is often only seen as a physical thing, such as jumping out of a plane or saving an injured wild animal. We forget that being vulnerable, where you are prepared to discuss your weaknesses and failure, is intensely brave and powerful.

Most successful entrepreneurs will tell you relationships are essential to business success and the strongest relationships are made when there is an emotional connection. This emotional connection can only be built with honesty, where two people are brave enough to share their stories of failure and success.


Success Isn’t a Solo Act

 business (11)No matter how you feel about how he left, it’s good for Akron and Cleveland to have him back – he, of course, is LeBron.  And no matter how you feel about who’s the greatest basketball player of all time, there’s no denying he’s one of the elite.  It’s his emphasis on teamwork, among other things, that’ll get him into the Hall of Fame and maybe help him reach his vision of being the first billionaire athlete.

LeBron knows his goal of winning another championship will be achieved with teamwork, “I just bring the determination to win.  Me being an unselfish player, I think that can carry on to my teammates.  When you have one of the best players on the court being unselfish, I think that transfers to the other players.”

Great leaders understand their success is the result of other’s dedication, inventiveness and enthusiasm, as well as their own efforts.  But, in the United States we tend to downplay the concept of joint effort.  We put a lot of importance on the ideas of individualism and self-determination, concepts which have served us well.

However, these ideals can create problems when ineffective people become too enamored with their own achievements and take too much credit for their successes.  We all know people who were born on third base and go through life thinking they hit a triple (Barry Switzer).   Effective leaders know they deserve some of the praise, but definitely not all or even most of it.

They know their success comes from people showing up for work day after day and efficiently going about the business of doing business – even when their kids are sick or they had to get up early to shovel out the driveway.  A smart manager knows the employees should get credit for the company’s accomplishments; they’re the ones doing the work of making his vision a reality.

The true genius of effective leadership is to recognize implementing his vision isn’t just his responsibility.  He knows that achieving his goals rests on his ability to seek out and listen to ideas from everyone in the company, it’s a group effort.  A person’s success isn’t a solo act, except in the minds of narcissists.  It’s the result of good fortune, hard work, talent and a host of other people.

 


Workplace Stress and its Ramifications

business (9)According to a Center for Disease Control and Prevention article and a survey done by Northwestern National Life, 40% of workers today report that they consider their job as being “very or extremely stressful.” And according to Northwestern National Life, one-fourth of employees view their jobs as the number one stressor in their lives.  Job stress has become a very common and costly problem that affects the United States workforce, and a problem that needs to be addressed by organizations and individuals as well. For more about this topic follow the links below.


What you need to know about workplace stress

TORONTO – John Tory was officially presented as mayor of Toronto Tuesday during an afternoon ceremony at city hall.

The job is no doubt stressful:  it’s at least four years long, 24 hours a day, includes no scheduled vacation time and puts every decision into the media spotlight.

So what is stress? Physiologically, we think of stress as the brain’s response to any demand.  And different types of stress have different effects – you can have stress from a sudden event like losing a job, or a traumatic event like an accident, or just routine stress related to the everyday pressures of life – which politicians feel a lot of because of the scrutiny they’re under.

The commonly referred to fight or flight response is the body’s response to stress. It is a mechanism that evolved thousands of years ago to respond to situations like being attacked by an animal.


‘Medicalising’ workplace stress could worsen staff morale, psychologists warn 

Low morale is too often treated as an “adjustment disorder”, which risks worsening the worker’s condition. Photo: Gabrielle Charotte

At least one third of workplace stress claims are due to “low morale” but are regularly being treated as clinical disorders, Australian psychologists have warned.

With workplace mental health problems costing businesses $10 billion a year, an Australian Psychological Society conference this week heard that more than 30 per cent of compensation claims were morale-related and therefore preventable.

Clinical and organisational psychologist Peter Cotton told the conference low morale was too often treated as an “adjustment disorder”, which risked worsening the worker’s condition.

“‘Medicalising’ this issue could be counter-productive and make the employee worse,” he said.


Workplace Stress Can Boil Over Months Later

New research suggests workplace stress can lead to counterproductive workplace behaviors that may not surface until weeks or months afterward.

It is common knowledge that a variety of workplace issues ranging from a seasonal surge in business, or a new manager, can lead to stress that results in immediate problems.

However, the impact of the stress may be underestimated as problems may surface down the road.

San Francisco State University organizational psychologist Dr. Kevin Eschleman determined many employees wait weeks or months before engaging in “counterproductive work behaviors,” like taking a longer lunch or stealing office supplies.

As a result, this behavior, which by some estimates costs businesses billions of dollars annually, may actually be far more expensive.

“People don’t just respond immediately with these deviant behaviors. They may also have a delayed response that isn’t caught by the organization,” said Eschleman.

“That means the organization is not taking into account long-term costs associated with these delayed behaviors.”


Workplace Stress – Now is a Good Time to Pay Attention

business (1) The holidays are here and most likely your employee’s stress levels, which were high to begin with, have increased to ultimate, super high.  So why, as their manager, should you care?  Stress is a part of life and isn’t it the employees private concern on how they take care of it? The answer to that question is a resounding “no”.  An effective manager is aware of workplace stress and takes steps to deal with it.

People’s jobs typically require 40 to 50 hours a week – both at a worksite and, with the advent of personal electronic devises, at home during unofficial work time.  Their employment is a big part of most people’s lives, as is the stress which comes from it.  Personal stress and professional stress are linked and they influence each other more than ever.

A successful boss is aware of how workplace stress is an important part of an employee’s life and takes steps to relieve it.  Because, not only is it good stewardship, it’s important for the company’s bottom line.  A conservative estimate is that job stress costs businesses more than $300 billion a year (American Psychological Association, 2013).  Stress leads to absenteeism, diminished productivity, higher health care costs, and theft of property, time and money.

It also causes employees to quit their jobs; turnover is directly affected by stress.  Almost 1 in 4 people (24%) gave “too much stress” as a reason they would quit their job (Randstad, 2014).  Inadequate pay and limited opportunity for advancement were the only reasons that scored higher.  Unfortunately, pay and advancement are often something a supervisor can’t do anything about, particularly in a small business.

But, stress on the job is something she has power over, it can be controlled in many ways.  There are some fundamental time tested techniques, and some innovative ones which are geared to a particular worksite or type of employee.  Skilled mangers will learn and apply these ideas, because healthy stress reduction starts at the top and works its way down.

A supervisor’s negative viewpoint filters down and impacts the whole team.  Workers often identify their boss’s behaviors and attitudes as the primary stressors.  Now is a good time for managers to take an inventory of their own attitudes, as well as the employees.  Going into next year with the idea to increase the company’s bottom line through reducing workplace stress is a worthy personal and professional goal that everybody benefits from.


Can Lousy Managers be Changed?

business (10) There are a lot of lousy managers, everyone has met them, worked with them and worked for them.  They can create havoc in a workplace, particularly in a small business where their impact is profound.   Many businesses have closed due to incompetent managers.  Because of their influence it’s vital for their supervisors to take responsibility and evaluate the situation – can they be turned into good managers?  The answer is yes, maybe and no.

Yes – some lousy managers can be turned into good ones.  Their poor management skills are usually not their fault.  They were never taught how to be effective and are doing the best they can.   They’re eager to learn, motivated to grow and respond to training and mentoring.  They can be good managers, they can be changed.

Maybe – some lousy managers can be turned around.  These managers know that they’re not doing the best they can.  But, they don’t change because they haven’t been told directly and honestly that they’re doing a poor job, subtle hints don’t work.  Nor, have they had to suffer the penalties of being a lousy manger.

Unfortunately, human nature is such that many people give the least amount of effort until they are forced to do otherwise.  The longer they’re allowed to get away with harmful behavior the more they’ll do it.  When appropriately confronted with facts and consequences, they’ll respond and change with direct supervision, training and an action plan.

No – some lousy managers can’t be saved.  They were unsuited to or ambivalent about being a supervisor from the start and never committed to the position.  Or they may have been adequate at one time, but now don’t care.

No matter the reason, no amount of supervision, training or disciplinary action will help them be a good manager.  No one can make them care about themselves, the company or the employees.  They’re either unwilling or unable to change and have to be let go.

Lousy managers will always be around and some will change, others might change and a few won’t change.  It’s up to their supervisors to recognize which type they’re dealing with and take the appropriate action.  After all, it may save the company.


Should You Hire a Tax Professional?

business (4)For big corporations, having a team of lawyers, accountants, human resources and financial advisors is expected.  Small business owners and young entrepreneurs that have cash flow issues are tentative about having to part with more cash and hire an accountant or tax professional for their business. But, when it comes to dealing with the IRS, state and local authorities, having a tax professional can save you more than you will be spending by using his services. Fines and penalties for filing late, filing incorrectly, or not filing all the forms can add up and cost your business thousands of dollars in the long run. Tax laws change yearly, and deductions and tax breaks that your business may be entitled to can go unnoticed and unclaimed by your business.  Have an accountant or tax professional to help your business this year.  For more information about business taxes, follow the links below.


Ohio Small Businesses Misinformed About Tax Deduction

Republicans including Gov. John Kasich have promoted tax deduction as a way to help small businesses expand. Owners could take a 50 percent tax deduction on up to $250,000 of income for 2013.  But according to The Columbus Dispatch,  just 379,000 business filers took the tax deduction as of Oct. 19. That’s roughly half of the 717,000 filers the state’s Department of Taxation anticipated when the Republican-dominated Legislature passed the tax break in June 2013.

The newspaper reports that those business filers saved $287 million in income tax. That’s below the $533 million in projected savings. It appears however that it’s too early to say why the numbers didn’t match the expectation.

The average filer – those entities whose profit and income are one in the same – saved about $760. Most claimed the deduction on less than $40,000 worth of business income, providing average tax savings of less than $150. A fraction had incomes topping $180,000, with an average savings of nearly $6,000.


Tax deduction for Ohio small businesses not taken as frequently as state anticipated

COLUMBUS, Ohio –  A tax cut for small business-owners has not been claimed as frequently as expected.

Republicans including Gov. John Kasich (KAY’-sik) have promoted the tax deduction as a way to help small businesses expand. Owners could take a 50 percent tax deduction on up to $250,000 of income for 2013.

The Columbus Dispatch reports (http://bit.ly/12sKGkZ ) that just 379,000 business filers took the tax deduction as of Oct. 19. That’s roughly half of the 717,000 filers the state’s Department of Taxation anticipated when the Republican-dominated Legislature passed the tax break in June 2013.

The newspaper reports that those business filers saved $287 million in income tax. That’s below the $533 million in projected savings.


Ohio small businesses paid way more income taxes than they had to last year

Ohio small businesses paid hundreds of millions of dollars in income taxes they didn’t have to, according to a story in the Columbus Dispatch.

Last year, Ohio business owners could receive a 50 percent tax deduction on up to $250,000 of income.

About 379,000 tax filers took the credit out of the 717,000 filers the state’s tax department thought could do so.

Those businesses saved $287 million of the $533 million the state believed could be saved.


Northeast Ohio is key hub for nation’s manufacturing push

Northeast Ohio is leaving a mark on some national initiatives to advance manufacturing.

President Barack Obama last week announced plans to invest $100 million in an apprenticeship grant competition, $130 million in a competition that will help small manufacturers take on new technology, and more than $300 million in the advanced materials, advanced sensors and digital manufacturing technologies.

The University of Akron played a sizable role in identifying the priorities behind those announcements as part of the Advanced Manufacturing Partnership 2.0.

But that’s not the only connection Northeast Ohio has had to the national manufacturing conversation of late, as the CEO of Kent Displays Inc. — the company that makes the Boogie Board e-writer — recently completed an appointment as the co-chair of the subcommittee on innovation, research and development on the U.S. Department of Commerce’s Manufacturing Council.


Are You Stressed Running Your Business?

business (10)More than half of the businesses that start each moth are home based businesses, and more than 500,000 new businesses start each month.  Unfortunately, more employer businesses shut down each month, and not surprisingly as a small business owner you can understand why.  The stress of running a business-regardless of the size- are numerous, and for a business owner, he or she has to deal with the issues and find a solution anytime they come up. Time constraints, cash flow issues, worker related issues have to be dealt in a timely manner, and the business owner finds himself doing the job of several people in a daily basis.

For more information about small business news, follow the links below.


Common Stresses – and Reliefs – of Small Business Owners

Being a small business owner doesn’t come with a job description, and more often than not it includes unforeseen stresses and challenges that are out of the business owner’s control. As a result, more and more entrepreneurs are finding ways to balance the demands of business in both practical and surprising ways.

Common Stress #1: Lack of Control 

While being your own boss may appear to put you in the driver’s seat, working with external business partners, clients, investors and other outside parties puts you in a position where you lack control. Sure, you may have influence… but that’s isn’t the same as identifying all end results. This can cause many small business to gain stress and seek resolution. Unfortunately, guaranteeing the results or even the answers you want to happen are not always possible.


Doing Small Business Better: Is the customer king?

Welcome to ZDNet’s second panel discussion in the Doing Small Business Better video series. This week, our discussion will focus on the concept of being a customer-centric business.

This is a term that is used a lot, but what does it really mean? When it comes to building stronger relationships, it all revolves around managing customer expectations, which sounds simple enough.

Where do businesses go wrong when it comes to customer service? And what are the most important factors to consider to get it right?

The concept of delivering great customer service, and being customer centric, should be a priority for every business, but sometimes it can get a little lost in the day-to-day pressure of doing business. This panel discussion provides some insights on getting it right.

Hosted by Andrew Griffiths, taking part in the panel is Troy Eggins, managing director of Trojan TechGroup; Bob Greenup, managing director of BNI Sydney central and south; Peter “Ziggy” Tsiglopoulos, director and owner of 3P Financial Pty; and Lisa Conway, owner of Zing Business Coaching.


Small-business Contracting on the Rise, Official Says

WASHINGTON, Oct. 14, 2014 – For the first time, the Pentagon has exceeded departmental goals for small-business contracting, a senior Defense Department official said last week.

Small businesses made up 23 percent of the Defense Department’s prime contracts in fiscal year 2014, receiving about $53 billion in work, said Andre Gudger, director of the office of small business programs, in a DoD News interview.

“This year, the Department of Defense not only exceeded its goal, but it also is on course to exceed the federalwide goal. … That’s significant — that’s historical, in fact,” he said.

The department also exceeded its goal of 3 percent for contracts with small businesses owned by service-disabled veterans — about $9 billion in contract value — Gudger said. “There’s no one better than that group of people to know what we need and how fast we need it, and help us to reduce the barriers in acquiring it,” he said.

Prime contracts are contracts in which the department contracts directly with the business, as opposed to subcontracting, where a second company is hired by a defense contractor to accomplish some part of the work.

Critical to battlefield dominance

This is an important accomplishment, Gudger said, because small businesses are critical to dominance on the battlefield.


Holiday Party = Strategic Opportunity

business (1)The company Christmas party has mostly been replaced by the company Holiday party.  Some companies are holding the Holiday party as early as the beginning of November.  Regardless of when it’s held it isn’t too early to start planning your strategy, because a company party is not a traditional party.  It’s a networking event, one you should take full advantage of.

According to various surveys managers say 15% – 25% of employees have limited their career growth because of inappropriate behavior at company functions.  An additional percentage may not have limited their growth, but they behaved poorly enough that their lack of judgment was noted and remembered.  Most people who’ve been to a company party have a cautionary tale about someone’s bad behavior and the posted pictures to prove it.

Be smart and make sure those stories and pictures aren’t about you.  Recognize and treat your company’s Holiday party as a strategic opportunity to advance your career.  Do your due diligence and develop a strategy to get positive recognition.  Here are a few tips to follow, which will help you.

Don’t drink – Remember, this is a work function you’re using to advance your career and you don’t drink on the job.

Don’t eat – It’s inventible, just when the CEO is free for you to make your move your breath smells like garlic, something is in your teeth and you’re unsuccessfully trying to juggle a used plate, soiled napkin and dirty utensils.

Don’t complain – A Holiday party is the time to be positive, appreciative and socially engaging.  People respond to genuine appreciation, not kissing up, of a job well done.  With the information you gathered use specific examples to highlight other’s and the company’s successes.

Don’t talk too much – You finally have a chance to meet the VP you’ve wanted to meet, don’t waste the opportunity by talking about your dog.  Plan on having a couple of things to say and ask, but let her do most of the talking.  People love to talk about themselves, learn to facilitate it.  Studies show that people who’re good listeners are perceived as knowledgeable and accomplished.

Social intelligence is vital for advancement in most workplaces.  Be smart and use the Holiday party as a networking opportunity to showcase your social skills.  Arrive on time, stay until the end and make the effort to speak to as many people as possible.  The adage – it’s not what you know, but who you know – is old, but still true.  Don’t ever doubt it, someone in the room is noticing.


Business Keys to Success and Other News

business (7)From January to August 2014 the unemployment rate was been slowly but surely decreasing.  February and March unemployment rate was 6.7% and last confirmed rate was August with a 6.1% unemployment rate. While economists believe the US economy is getting over the bump and jobs are added every month, there is skepticism over how well over the bump we really are.


ADP: Small Businesses Add 88,000 Jobs in September

Small business hiring picked up slightly in September, according to private payroll processor ADP.

Businesses with fewer than 50 employees added 88,000 jobs last month, up from 82,000 in August. Small businesses created 41% of all new jobs in the private sector in September, with 213,000 total jobs added.

“September’s jobs added number marks the sixth straight month of employment gains above 200,000,” said Carlos Rodriguez, president and chief executive officer of ADP.
“It’s a positive sign for the economy to see the 200,000-plus trend continue.”

Mark Zandi, chief economist of Moody’s Analytics, which helps prepare the ADP report, added that gains across all company sizes and industries is especially encouraging news for the economy.


Small businesses should focus on five keys to success 

What do small-business owners need to pay attention to this fall? Heath care, Internet security and new technology make the list. Here are five things that small businesses need to be on top of over the next several months:

HEALTH CARE: Small-business owners who bought employee health insurance policies before the end of 2013, sidestepping the law’s requirements for a year, could pay between 10 percent and 20 percent more when it’s time to renew, says Michael Stahl, chief marketing officer of HealthMarkets Inc., a broker based in North Richland Hills, Texas. They’ll also have to decide on plans. Policies issued under the law have significant changes including the requirement that pre-existing conditions be covered. Some owners may decide it’s better if workers purchase their own government-subsidized coverage on health insurance exchanges.

Companies whose coverage took effect Jan. 1 of this year and complied with the law could see increases between 5 percent and 10 percent for 2015, Stahl says. Not all small-business owners will have to make these decisions this year. Employers with 50 to 99 workers have until 2016. Companies with fewer than 50 workers are exempt.


Google AdWords Secrets: What Works for Small Business

Launching an AdWords campaign is one of the most effective ways to grow a small business. Whether you are trying to get the word out about your business or have a special event or sale to promote, launching ads on Google can mean big business in little time.

The Google Display Network (GDN) reaches the majority of U.S.-based Internet users — a whopping 80 percent — giving AdWords advertisers the widest reach possible. Although this is definitely a good thing, it does come with some disadvantages. Because AdWords casts such a wide net for advertisers, launching an effective AdWords campaign requires a finely tuned strategy to reach the right customers and get a better return on investment (ROI).

Launching an AdWords campaign is one of the most effective ways to grow a small business. Whether you are trying to get the word out about your business or have a special event or sale to promote, launching ads on Google can mean big business in little time.

The Google Display Network (GDN) reaches the majority of U.S.-based Internet users — a whopping 80 percent — giving AdWords advertisers the widest reach possible. Although this is definitely a good thing, it does come with some disadvantages. Because AdWords casts such a wide net for advertisers, launching an effective AdWords campaign requires a finely tuned strategy to reach the right customers and get a better return on investment (ROI).


Business Lessons And Information

business (4)Are you a business owner struggling to make your business get ahead? Research and articles about the US economy and its recovery are abundant, all hailing that the US economy is progressively doing better. As a small business owner the recovery may not have reached your business yet, and the truth may differ a bit in your case, but keeping yourself informed and motivated can be the difference between a good and a great year for your business. Follow the links below to read the complete articles.


Four Valuable Business Lessons To Learn From Football

Are you ready for some football? Many Americans spent hours in front of the television this weekend as the 2014 NFL season opened. Regardless of how your favorite football teamed performed (I recognize that half of you are depressed by the outcome), you probably were content just watching your favorite team TISI -0.95% play. But, I’m here to be sure you don’t overlook the business lessons buried in the sport. Here are four valuable lessons you can take from the football season, along with important guidance about where football and business differ.

Build a Successful Team

Each NFL team needs a group of players with complementary skills that together make a great team. In your business, it works the same way. You need skill players, strength players, a great quarterback, and a staff of supporting coaches.


Business leaders downbeat on workers’ prospects

Despite an improving economy and record corporate profits, business leaders are skeptical about their ability to compete abroad and downright pessimistic about the prospect of increasing pay or improving living conditions for American workers, according to a new report from Harvard Business School.

Co-authored by high-profile Harvard professor Michael Porter, the report also identified a “troubling divergence” in the economy, in which most businesses are thriving, as are highly skilled workers, yet middle-class and working-class employees are struggling.

Porter and his team urged business leaders to become more involved in efforts to improve living standards for more workers, such as additional training and education, out of self-interest: a stronger workforce will make their companies more competitive in the global economy.


Business Leaders Worry About Income Inequality And Revolution

Income inequality must have become a mainstream concern because even business leaders worry about it. A newly released survey by the Harvard Business School of its alumni about American competitiveness shows that a “troubling divergence in the American economy” could ultimately sink the country’s prospects. Even as large corporations, the wealthy, and “ highly skilled individuals” prosper, “middle-class and working-class citizens are struggling.” So are small businesses, which are an important source of new jobs. The result is a division of the U.S. into two parts, one small and wealthy, the other comprising the vast majority that finds it more difficult to get by as time moves on.

The problem, according to the analysis of what these executives have said, is that to be economically strong, the U.S. must compete in the global economy while supporting and advancing the standard of living for its citizens. The financial results of large corporations show success in the first area. Standards of living are another matter: