Blog
Are you doing enough to safeguard and protect your small business data?
Small businesses are widely adopting data back-up practices to ensure data is retrievable should a disaster occur, but gaps remain. According to a July 2012 study by accounting software company Sage, the bulk of small businesses are backing up key data such as financial information, but most businesses back up that data on-site only. Furthermore, the study found that only 38 percent of surveyed small businesses have a formal emergency or disaster preparedness plan.
Funny, isn’t it, how the grass tends to look greener from the other side. It’s the same in business as well as in personal affairs.
If I look around, I can spot five companies in five minutes that “seem” to be doing better than mine. They appear to have accomplished more, in less time, and seem to be doing better than my company.
The fact is, that may or may not be true. Often things just LOOK greener.
But there is one good thing that tends to come out of “grass-is-greener” musing: it inspires me to set goals to improve my business.
Did you start a business last year? No? Are you planning to start one this year? Did you know you can choose the tax year you intend to operate under? Choose well, because there are pros and cons for either method.
A tax year is an accounting period for which you must report your taxable income and business expenses, and the law requires you to operate according to a consistent tax year. The most common is the most obvious: the calendar year. However, businesses can also report based on a fiscal tax year and a short tax year.
America’s 28 million small businesses are the backbone of our economy. This past week, the Taxpayer Relief Act of 2012 delivered them some really good news.
There’s no doubt that social media marketing is a proven and established platform for connecting with customers, building a community and generating business. Yet, despite the evidence of its effectiveness as a marketing tool, surveys and studies say few small businesses are making active use of social media platforms like Facebook, Twitter or LinkedIn to promote products and services.
Will great things finally start to happen in franchising in 2013?
Should you become the owner of a franchise business in 2013?
What are some of the trends in franchising?
Let’s dig in...
Employment
Jobs aren’t what they used to be. The days of working for the same company for 30 years are over. A lot of today’s corporate employees move from job to job. And it’s usually not their fault. Divisions close down. Companies restructure. As Guy Kawasaki* says, “Shitake happens.”
Whether you are entering into a relationship with a customer, a vendor or an independent contractor, contracts are a fact of business. You need them because they serve as legally valid agreements protecting your interests.
But aren’t contracts laden with legalese? Don’t they have to be blessed by an attorney to ensure their validity? Not always.
In fact, I’ve seen contracts come across my table that are less than one page in length, in plain English, and still legally binding. How?
Generally, to be legally valid, most contracts must contain two elements:
Are you turning down work because you simply don’t have enough time or hands on-board to take it on? Thinking of hiring your first employee? Congratulations – your business is doing well!
But before you advertise for a new employee, proceed with caution. Hiring staff is a commitment to the future, and should be made in the context of your long-term growth plan and whether you really want to be an employer. Here are some points to consider, plus some tips for determining whether you can afford to hire your first employee.
1. What is your vision for your business?