Recordkeeping Tips for Small Business
What are the record keeping requirements for my small business? Steve walks you through these requirements (and what the IRS…
Tips on How to Hire the Right Bookkeeper
What should you look for when hiring a good bookkeeper for your business? Hiring the most bookkeeping experience you can afford is only one of the tips that Steve…
Make the Most of Every Opportunity: Are You Fat & Happy or Lean & Mean
Many businesses that aren't "lean & mean" go out of business in today's economy. Stay on top of your competition so you don't lose your customer base.
What Can I Use as a Tax Deduction for My Business?
Steve is frequently asked: "Can you provide a list of tax deductions for my business?" Go beyond those "lists" and think about those expenses that might be unique to your business.
Member Managed LLC's - A Problem Waiting to Happen
It is important to control who manages the LLC and who can bind the LLC to an agreement. You want to limit the liability that will incur with the members interacting with the public. All members will be liable for any mistake that may be made on behalf of the LLC.
How to Use your iPad to Make Videos the Easy Way
It is really simple to use an iPad to make videos for your business. You can utilize iMovie and record videos for your business.
LLC Operating Agreements - Why You Need One
Having a well formed operating agreement for your LLC is important. This outlines who the members are, what the percentage of interest…
What Makes a Good Manager?
Do you define a manager only by the tasks for which they are responsible? Steve explains that HOW a great manager accomplishes tasks with their team is far more important than the tasks themselves. A good manager employs servant leadership to encourage and orchestrate the tasks completed by the team.
Mentoring Helps Ensure Success of Succession Planning
Many times, succession planning involves selling to an employee group or family member. Because this often means seller financing, it's important to develop your management team so that they can take over even before you step aside to ensure the long term success of the business.
Anticipate your Business Strategy with a Buy Sell Agreement
100 percent of businesses end at some point. If you have one or more business partners, start the relationship with a business prenuptial - a buy-sell agreement - as part of your exit strategy for your business. Steve hits some of the important aspects of a buy-sell agreement as a good business strategy.
Focus on Your Strengths to Maximize Productivity
Understand and focus on your Strengths to maximize your productivity and satisfaction. Don't waste time working on tasks and projects that frustrate you and bring you no enjoyment. Instead, learn more about your own strengths and focus your efforts in those areas.
Stop Hiring and Start Auditioning to Find the Best Candidate
Steve explains how auditioning can work for your business by ask each of them to "audition" with a small project. This gives you tremendous insight into how each candidate…
Consider Three Main Traits When Hiring
Steve shares tips for uncovering these three traits during the interview process.
Understanding Due Diligence An Integral Part of Selling Your Business
Wise buyers insist on a detailed due diligence process to make sure that the business is a wise investment. Wise sellers anticipate this and gather this due diligence information prior to listing the business. Work with your attorney or other advisor to anticipate the buyer's requests and put this package together ahead of time.
Appoint a Manager to Lead your LLC
Steve explains why it is prudent and important to select a Manager to lead your LLC when there are several members vs. a Member-managed LLC. Unless your LLC is owned by only one Member, a Manager-led LLC is your best choice. Discover why...
Give Your Prospect Three Options to Say Yes to Working with You
When you're in a service business, your find that often prospects want the highest level of service at the lowest possible price. Discover these tips for providing just the right level of service at a price that best fits your prospect's budget to get your prospect to say, "Yes!"
Should I Sell Business Divisions Separately vs Sell the Company as a Whole
Steve shares some thoughts to consider when selling your business. Often, it can make more sense to divide the company and sell the divisions separately. Other times, there is a synergy that is only available when the company is whole. Discover more about how this might apply to your situation.
Charge an Application Fee When Hiring to Help Pre-Qualify Candidates
Run of the mill recruiting brings you a LOT of unqualified applicants. Before you invest your time and money screening those applicants - reviewing applications, paying for drug screens and background checks - why not consider charging an application fee to prospective employees? You might find that those who are unqualified won't pay the fee and you're left with a smaller, more qualified pool of applicants to choose from.
Be Willing to Walk Away for Your Best Negotiations
If you care too much about "getting the deal done," chances are the results won't be good. If you are willing to walk away from the deal, you become a very strong negotiator and end up with a deal that makes good sense. Be willing to walk away for your best negotiations.
Minimize Interruptions to Maximize Productivity
Interruptions can be a business killer. Each interruption statistically takes 45 minutes of your time to get back on track. Structure your day with uninterrupted blocks of work time to increase your business productivity. Being available to your employees, clients, friends and family is always important but be sure to build structured time blocks into your week and you will see a huge difference in your business productivity.