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.


Silence is Golden for an Effective Leader

business (11)Leaders tend to be people who are skilled with words.  They’re often equally comfortable with presenting to a large group, facilitating a contentious staff meeting or coaching one on one.  They’re counted on to know what to say in awkward social situations when other people freeze up.  In part, their jobs are to smooth over problems, break the ice and rally the troops.

These skills are one of the primary reasons they’re identified as leaders.  People who have good verbal skills convey authority and confidence.  Being able to use the right words is often, sometimes mistakenly, seen as thoughtfulness, intelligence and insight.  However, just because they’re excellent talkers doesn’t mean they’re effective leaders.

Many struggle with pausing, listening and letting others speak.  They have a “me” mindset that’s fostered by their job and facility with language.  They mostly have one-sided conversations and experience difficulty with two-sided ones.  A productive leader will pay attention to, learn from and correct these three common mistakes which unproductive leaders make.

Uncomfortable with silence – People in general feel uncomfortable with silence, but for a variety of reasons leaders particularly struggle with it.  A moment of silence is the way someone gathers his thoughts, formulates questions and processes information.  It’s vital to learning and understanding information.  An innovative leader learns the tool of silence and teaches it to others.

It’s really not all about you – Someone taking a breath or pausing in a conversation isn’t a signal to start talking again.  Truly motivating leaders don’t have to be the center of attention or control the conversation.  They’re able to wait out the moment and stay focused on what the other person is saying.

Know it all – Leadership is not synonymous with expertise and secure leaders know they don’t have to have all the answers or understand all the questions.  They surround themselves with people who do know the issues and the answers.  “Better to remain silent and be thought a fool than to speak out and remove all doubt” – Abraham Lincoln

Talking is less than one half of communication and successful leaders are good communicators, not just good talkers.  Most people, especially those in leadership positions, believe that because they’ve spoken communication has resulted.  Unfortunately, this isn’t accurate – the examples of excellent talkers who are ineffective communicators and leaders are legion.  It’s important to remember that the biggest problem people have with communication is assuming it has taken place.


Small Business Topics You do Not Want to Miss

business (2)Small business owners wear many hats when running their business.   Many issues that plagued them daily are the issues of cash flow and time.  Their “to do”  list is never done, and the time needed to finish the myriad of things they need to accomplished is never enough. Cash flow issues are a constant reminder to the small business owner that either they need to borrow money or find a way to stay afloat. If those issues are something that you as a small business owner feel are important to you, follow the links below for more information about these topics.


What comes first: financing or growth?

The most common complaint we hear from small-business owners in 2014? Financing and lending are still tight, and these restrictions are impeding growth. For this special report, Crain’s reporters and researchers dove deep into the latest trends in lending, from Small Business Administration-backed loans to the community banking resurgence to the Kickstarter phenomenon. We also present trends and list resources in alternative lending, venture capital and microloans.

And what’s a small-business special report without plenty of advice from area business owners who have successfully cracked the money code? Meet the owners of Lickity Split, a custard shop that is taking advantage of tax-increment financing grants to expand; a day care owner in Portage Park who financed an extension with a microloan; and a maker of gluten-free bakery mixes who has dazzled venture capitalists at the age of 26. And lest you think that finding funding for your idea is impossible, scroll through our slideshow of 20 random Chicago-area projects that won Kickstarter in the past 12 months.


Small business, big mistake: Losing sight of the mantra that ‘cash is king’

Welcome to “Small Business, Big Mistake” where small-business owners face up to their biggest mistakes and share advice to help your company avoid the same fate.

My previous education and business experience were limited to the technical side of doctor’s offices, so I didn’t think I was prepared to be an entrepreneur. Still, I wanted to have my own business, so experience aside, I decided to jump in with both feet.

I did my research, wrote my business plan, and hung out my shingle. Suddenly, I was a professional pet sitter with my own small business. I provided daily dog walking services for busy professionals and pet-sitting services for owners when they went out of town.

My business grew organically, and within six months, I had more business than I could handle on my own.


10 Ways to ACTUALLY Get Through Your To Do List

We start out each day with the best intentions to get it all done, but sometimes it feels like the world may be conspiring against us. As entrepreneurs and self-employed individuals, we have a myriad of tasks on our plate at any given moment, not to mention trying to balance this workload with your personal life. If you’re looking for a few ways to help you actually cut through the fluff and get your real work done, try out these ten tips:

1. Just do it!
This is probably the simplest way to start getting more things done. Instead of spending time debating what you should be doing, pick one thing and just do it. Then pick another and do it. Don’t worry about what’s next on your list or the other things that need your attention. They’re not going anywhere. Just focus on the one task at hand. You may be surprised at how well this simple approach works.

2. Work in chunks of time. 


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).


Ohio Business News and other Stories

business (5)News about  Ohio’s small business and personal income tax deductions have been updated and are found at the Ohio’s department of taxation website.  If you are not sure what deductions to take or your business is allowed to take you must contact your tax advisor for information about it to make sure that you have indeed all correct information.  For more news about Ohio follow the links below.


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.Kasich also plans to meet with owners and patrons at a Dayton-area bowling alley, followed by a small-business panel discussion in Tipp City.

Democratic Cuyahoga County Executive Ed FitzGerald is challenging Kasich this fall.


Ohio ~ Personal Income Tax: Small Business Deduction Discussed

The Ohio Department of Taxation (DOT) has updated its web page dedicated to the small business personal income tax deduction. The DOT notes that virtually all small businesses in Ohio are now eligible for a 50% tax deduction on the first $250,000 of business income.

The DOT reminds taxpayers that the small business deduction enables a business owner to deduct 50% of Ohio net business income from the adjusted gross income they report on their Ohio personal income tax return. If the business has multiple owners, each is eligible to claim the deduction. The 50% deduction is available on up to $250,000 in business income, meaning the deduction is capped at $125,000 for each investor or owner.

For taxable year 2014 only, the small business investor income deduction will increase to 75% of a taxpayer’s small business income of up to $250,000. The deduction will be limited to $187,500 for individuals with a filing status of married filing jointly or single. For individuals with a filing status of married filing separately, $125,000 is the maximum income subject to deduction which allows for a deduction of up to $93,750. The DOT notes that at this time, the temporary increase in this income tax deduction is authorized for tax year 2014 only.


Ohio’s candidates for governor cite favorite statistics on economy 

Go to any speech by Ohio Gov. John Kasich and you are guaranteed to hear how the state has gained 250,000 private-sector jobs since he became governor, compared with the 350,000 lost under his Democratic predecessor.

Democrats will point out that job growth began during the final part of Gov. Ted Strickland’s term: Ohio’s national ranking was better in the Democrat’s last year than in Kasich’s past year.

Both contentions are true. That’s the challenge of comparing economic plans: Since both sides know that employment is easily the top issue among Ohio voters, the political handlers furiously churn out a whirlwind of statistics to make the case for their guy.


A Customer-Centric Culture is Everyone’s Job

business (7)Jim was making a large purchase of electronic equipment, add-ons and accessories.  He did his research on-line and was planning to buy it all on-line.  However, he wanted to see some of the components, so he went to a big box store.  The salesman was attentive, informative and offered discounts on various items.  Jim made a several thousand dollar purchase in the store due to the salesman’s help, knowledge and flexible pricing.

Jim was so impressed with the customer service that he asked to talk to a manager, to compliment the salesman.  After some time the manager showed up complaining that he was on a break and was unhappy with being interrupted.  As Jim tried to praise the salesman the manager was impatient and uninterested.

He even tried to take credit for the sale, arrogantly saying “I taught him everything he knows.  I should be the one you’re thanking”.  Jim walked away still happy with the salesman, but dissatisfied with the company “who should know better than to promote such an oblivious jerk to a management position”.

In a customer-centric culture it’s everybody’s responsibility to understand and uphold the company’s clearly communicated principles.  These succinct and focused set of values and norms guide how employees think and act, day in and day out.  It’s a culture where the customer’s perspective and experience is embedded into the company’s DNA.

Establishing and maintaining this culture is an on-going project which requires discipline and commitment at all levels.  All of the employees are responsible for monitoring, supporting and mentoring each other.  The best customer-centric cultures flow from top to bottom and bottom to top.

When the principles are at the center of every action, decision, conversation and strategy it becomes harder for a company to lose its way.   The company’s purpose becomes the companies “why and how”.  Why are we doing this?  How will it help the customer?  It helps a company stay focused on the reason why they’re doing what they’re doing – their purpose for being in business in the first place.

Then everything they do to design the customer’s experience will be aligned with this purpose.  Remember, customers buy from and return to the brands that they feel committed to, ones with which they feel aligned.  Many companies lose their purpose and then lose their focus, which weakens their customer’s commitment, leading to the business faltering and eventually failing.


Obamacare and Tax Refunds for Small Businesses

business (8)According to certain reports by the SEIU.org Ohio ranks 35th.in the nation for health Status. It also states that as the Affordable Care Act is fully implemented, close to a million Ohio residents will gain access to affordable health care. Diabetes, asthma and obesity have plagued the nation in recent years and Ohio is not immune to those health risks. Being able to afford health care is for many individuals a problem of insurmountable proportions and President’s Obama Health Care Act gives them the hope of obtaining health coverage for them and their families this year.

For more news about Ohio, follow the links below.


After delays, Obamacare options for small businesses coming to Ohio soon

WASHINGTON, D.C. — The Obama administration has selected Ohio and four other states for what it says is “early” access to an Affordable Care Act program offering health insurance to small businesses.

This will allow businesses with up to 50 employees to look for competitively priced health coverage for 2015 through the Small Business Health Options Program, or SHOP, according to the U.S. Department of Health and Human Services.

The federal SHOP program was supposed to be in place this year but was pushed back amid numerous problems in starting up the ACA’s main program, covering individuals. Some states with their own enrollment processes did not have these problems and were able to start SHOP anyway, but Ohio was one of many relying on the federal enrollment mechanisms.


Small business owners get hefty state tax refunds

The state is refunding millions of dollars to small business owners who overpaid their taxes in previous years and were not aware of the errors.

An Ohio law signed this year by Gov. John Kasich forces the Ohio Department of Taxation to refund overpaid taxes to companies. State officials said so far they have cut refund checks for $29 million.

Previously, if a business wasn’t aware it had overpaid and didn’t request a refund, the money would be held at the department of taxation, and once statutory deadlines passed, the money would roll into the state treasury, officials said.

“It was just wrong. The policy was anti-business. It was terrible, so we have changed it. Who knows how many millions and millions of dollars should have been in the hands of business people across this state for many years and it’s lost forever,” Ohio tax commissioner Joe Testa said.


Down-ticket Dem candidate talks small business in Athens

The Democratic nominee for Ohio Secretary of State, state Sen. Nina Turner, visited Athens Tuesday to meet with various area small-business owners to learn about ways to help if she is elected in November.

Turner, a Cleveland Democrat, said in an interview that she was in Athens to hear the experiences of small-business owners, and hear their ideas about the local business environment and how to improve the Secretary of State’s Business Services Division. She called the division a key component of her plans for the office.

“It was such a pleasure sitting down with these business owners and leaders in their community to discuss the situation on the ground in Athens and learn their stories of starting their businesses and making them successful,” said Turner.


Ohio’s Unemployment Rate and Other News

business (4)The national unemployment rate for July was 6.2%, a bit higher than the Ohio unemployment rate of 5.7%. Compared to the 7.5% unemployment rate in 2013, things seem to be going in the right direction for Ohio. And although the recession seems to have slowed lending for small businesses, small business owners are still optimistic that things are heading in the right direction.

To read more about small business news follow the links below.


Ohio jobless rate posts small hop to 5.7% in July

Ohio’s unemployment rate edged up to 5.7 percent in July, as the number of those out of work rose and the total with jobs dropped from the prior month.

The state reported Friday that non-farm employment sank 12,400 jobs from June to nearly 5.3 million last month, helping push up the jobless rate from 5.5 percent in June. About 323,000 Ohioans were out of work in July, the Department of Job and Family Services reported.

The state’s jobless rate in July 2013 was 7.5 percent.

But the state said 24,400 more individuals were working in July than a year earlier. Adding the most jobs over the 12 months was the goods producing sector, up 14,700, and professional and business services segment, up 17,000 positions.


Who’ll pick SC peaches? Immigration policy gridlock stymies farm labor

The heated tempers of the nation’s border states are driving the debate over immigration policy. States such as South Carolina, though, are reckoning with a different set of challenges: a skimpy agriculture labor market and cumbersome immigrant worker programs that go unfixed amid partisan gridlock on Capitol Hill.

Over 20,000 U.S. farms employ more than 435,000 immigrant workers legally every year, according to 2012 U.S. Department of Agriculture census data. Thousands – probably tens of thousands – more are employed illegally. In the fruit orchards of the Carolinas, farmers confront a blue-collar labor vacuum.

“Because we’re not a border state, it’s definitely harder to get people over this far from the border to work,” said Chalmers Carr, the owner of the East Coast’s largest peach grower, South Carolina’s Titan Farms. “2006, 2007, even 2008, we had a very robust economy and there were not enough farmworkers then. And there’s truly not enough farmworkers now, legal or illegal.”


Small-Business Lending Is Slow to Recover

Lending Remains Far Below Pre-Recession Levels; Things ‘Aren’t What They Used to Be’

Small-business lending by banks is rebounding but remains far below prerecession levels, forcing entrepreneurs in places like Carroll County, Ga., to seek other financing sources. WSJ’s Angus Loten joins MoneyBeat with the details. Photo: Carrollton Mainstreet.

CARROLLTON, Ga.—Brandi Shirey wants to borrow at least $20,000 to expand the birthday- and wedding-cake business she started four years ago after leaving her job as a bookkeeper.

Demand for the cakes, which sell for $150 to $500, overwhelms her home kitchen. She plans to use about $2,000 from her savings to move into a nearby storefront next month. But the 28-year-old Ms. Shirey believes her credit record and financial paperwork have to be bulletproof before she dares approach a bank for a loan. “It’s time to grow,” she says, but things “aren’t what they used to be.”


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.