Every decision
you make as a business owner is a reflection of your values.
As Ko has now learned twice over, money is at the root of every decision
you make as a business owner.
Determining your salary is one of the most important decisions you'll
make as a business owner.
Not exact matches
Once you have sufficient
business coming in, it will
make sense to take the next step and form a company, hire employees and start your career
as a
business owner.
Ultimately, your best decision lies in understanding your needs
as a
business owner and talking about those needs with numerous service providers before
making your final choice.
As a small
business owner, one of the best ways that you can boost sales in your organization is by offering a variety of payment options that
make it painless for your customers to purchase your products or services.
«Think about how you,
as a
business owner, want to impact the world,» said Darn Good Yarn's Snow, who has
made it her mission to create opportunities for other people and small
businesses within her supply chain.
Mistakes will be
made, but why not learn from the stumbles of those that came before you?Particularly in the digital era, there are more ways to save
as an entrepreneur or small
business owner than ever before.
The issue is particularly important
as the nation celebrates National Small
Business Week, which acknowledges the important contributions small business owners make to the
Business Week, which acknowledges the important contributions small
business owners make to the
business owners make to the economy.
But
as Johnston noted, the changing character of
business structures and the marketplace are
making it increasingly necessary for
business owners and executives to pay greater attention to the human resource aspects of operation: «Tasks that were once neatly slotted into well - defined and narrow job descriptions have given way to broad job descriptions or role definitions.
As a
business owner, you often think that addressing a problem is going to be more difficult than it actually is - firing that problem employee, correcting a broken process, or
making an uncomfortable phone call to a customer.
Initially, you might not consider «likability»
as a key trait for running a
business — after all, a
business owner needs to
make objective, emotionless decisions for the benefit of the
business before any human interest considerations.
As a
business owner, I often find myself struggling to
make sense of my time.
Facebook is financing hotspots in villages in countries like South Africa, which requires agreement from entrepreneurs who are willing to act
as evangelists, writes Wired's Jessi Hempel: These
business owners need to let people know that the hotspots are there and
make them feel comfortable sticking around to use them.
Still, Gaudet notes that to truly
make it work
as an entrepreneur or
business owner in Turkey, you might need to sacrifice some of your independence.
Interestingly, Michalowicz said that accounting may be viewed
as an indicator of a
business owner's decision -
making acumen — or lack thereof.
Working with entrepreneurs and small -
business owners who are generating $ 300,000 in revenue, I've seen that their decision to have their LLC taxed
as a corporation and
make the S - corp election cuts their total tax liability by one - third.
But I'll readily admit that the past couple years have
made even the most positive small
business owners wonder how much longer they can still look at the glass
as half full.
But we have all, at one time or another, been
made to feel like if we didn't have written out our exact profit and goal strategy, we were failing
as a
business owner.
However,
as a
business owner, even if your personal assets are not leveraged, you are still responsible for ensuring payments are
made in full and on time to avoid default through the personal guarantee of the
owner (s).
But if you think of selling
as explaining the logic and benefits of a decision, then everyone —
business owner or not — needs sales skills: to convince others that an idea
makes sense, to show bosses or investors how a project or
business will generate a return, to help employees understand the benefits of a new process, etc..
As a
business owner who has a
made six figures annually with just organic posts on Facebook (no ads or money spent), I know the power of social media very well.
As a
business owner, I
make it a goal to vacation at least three times per year.
Once
business owners have invested a few months of sweat equity for no pay, it
makes sense to structure subsequent cash infusions
as debt rather than equity.
Most
business owners forget to account for the fact that equity in a
business grows
as it gains market share and a loyal customer base, so
make sure to account for the value of your
business and its holdings
as well.
GoDaddy was for a long time known
as that tech company with the provocative Super Bowl ads, but it has been
making a concerted push to become the go - to service provider for small
business owners to set up and promote their online presence.
Lencioni implores
business owners to use their values
as hiring, promoting and firing criteria: «Your goal should be that 100 percent of your people embody the one or two values that
make your company truly special.»
I have this conversation with
business owners all the time,
as they complain that they are not
making much money in their
business, or they are working too hard, or some other perceived issue.
As a
business owner and marketer, you need to lead the charge for your team by
making sure you understand any risks with new augmented - reality apps.
Tim Christiansen, the
owner of Vino Per Tutti, an independent wine shop in Bozeman, Mont., said in a press release from the Seattle - based Main Street Alliance, that he,
as well
as the vast majority of his small -
business owner compatriots,
make less than $ 250,000 a year.
Or Jeannette Bitz, chief strategist and managing principal at Engage, who says: «
As a
business owner, I'm focused and motivated, but I don't always
make time for strategic thinking because I'm busy serving clients and running the
business.
All employees (
as well
as bosses and
business owners) will
make mistakes at some time during their career.
The decision to update technology is the best one you can
make as a small
business owner today and one that will undoubtedly have long - term benefits for your company.
However, while many
business owners are
making valiant attempts to position themselves
as thought leaders, their efforts often fall short because of one key reason: credibility (or lack thereof).
As a boss or
business owner, you should
make it a point to encourage employees to understand what they did wrong and move forward.
«Through this increased investment and connections with community lending organizations, we are
making meaningful strides toward increasing access to capital for small
businesses,
as well
as helping more
business owners get the coaching and educational resources they need to succeed financially long - term.»
As a small
business owner (specifically the
owner of Heitner Legal), I am always looking for tools that will
make me more efficient in my day - to - day life.
Bottom line for the
business owner is that you don't usually know which bureau the lender or vendor will use, so you'll want to check and
make sure all are up to date and
as strong
as posssible.
If you're a small
business owner you'll want to understand these reports
as your creditors, suppliers or even
business partners may use them to
make decisions involving your
business.
As a
business owner you need to
make sure that you (or your marketing team) stays up to date on the evolution of email marketing.
I like the way you have
made this applicable for the small
business owner as well.
This type of automatic payment is also good for borrowers because, among other things, it has the potential to help a small
business eliminate cash flow lumpiness by
making more frequent and smaller debits on a daily or weekly basis
as opposed to requiring a large loan payment on a monthly basis — although that is not the only benefit to small
business owners.
As a huge bonus,
business owners who
make on time payments and keep their balances low can build
business credit, however it's worth noting that your payment history may be reported to personal credit reporting agencies and affect your personal credit scores.
I just wanted to add that a Solo 401k, while great, may not be applicable
as most small -
business owners who employ full - time employees will have to
make equal contributions to all employee accounts.
We also understand that when
business owners need financing, they need it now, not weeks or months from now, so we've
made our application process
as simple
as possible, with a minimum amount of paperwork and documentation required.
My focus,
as a
business owner, was to produce the best product I could and get
as many customers to buy it
as possible (with a big enough margin to
make a profit).
The company seeks «corporate escapees» who wish to
make their own path
as business owners.
If your
business fails and is unable to
make the loan payments, whatever personal assets posted by the
owners as collateral can be seized by the bank, including houses, vehicles, investment accounts, etc..
If you decide that you want to
make $ 424,000 a year in income to contribute $ 108,000 in pre-tax retirement money, then you must
make $ 424,000
as an employee and
as a contractor /
business owner.
Before,
owners were able to deduct these expenses
as if they were any other
business expense, but not the percentage has been decreased greatly,
making the deduction seem not even worth it.