Make Time for Strategic Planning

Running your business is an exhausting, all-day-every-day enterprise. You have so many things to do—from the central task of finding more customers to the ins and outs of day-to-day operations. And it’s especially true for a small business, where you don’t have a huge staff of people to spread the tasks around. With so much […]

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Consultant’s Corner: Establishing a Simplified Employee Pension Plan

Question: What is required when establishing a SEP Plan? A Simplified Employee Pension (SEP) Plan, also referred to as a SEP-IRA, is one of the easiest small business retirement plans to set up and maintain. You can make sizable contributions for yourself and any eligible employees. There’s little administration, any employer—including self-employed individuals—can establish a […]

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Keep the Organization Simple

Organizations of all kinds have a bad habit of growing more and more complex. But an important feature for an organization focused on growth is keeping things simple. Whenever a big business fails, we often hear about problems with their organizational structure. It’s a similar story almost every time: The organization grew so big, and […]

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4 Elements of an Effective Performance Review

As you add employees to your small business, it becomes increasingly important for you to have a way to evaluate their work and keep your workers on the right track. Having the framework in place for effective performance reviews will give you the opportunity to identify the goals and objectives for your company and determine […]

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Understanding a Financial Statement: 3 Key Metrics

Your accounting will ultimately produce financial statements for your business. They are there to help you run the business, and effectively represent each decision you’ve made in the past to help you make decisions for the future. The financial statements accomplish this by translating everything into dollars and cents. But there are other benefits to […]

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How to Handle a Defamation Claim

One of the most serious legal issues you or your business could face is a claim of defamation from one of your employees. These charges can be extremely costly to your business, and you need a careful, trained hand to defend against them. Small business owners need to be aware of what constitutes a defamation […]

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4 Essential Elements of a Business Plan

A well thought out business plan is critical to the success of any new venture. The business plan not only identifies the goals of your business, but it also will outline the plans to execute those goals. It tells you both where you want to go as well as how you are planning to get […]

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Is This Really a Business?

Small home-based businesses have been touted as the last great opportunity for tax shelter. Maybe they are, but there are rules requiring that your business actually be a business and not merely a hobby for which you bring in a little cash to help cover costs. Hobby Loss Rules A Hobby Loss is a loss […]

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