Scaling a growing business can be as challenging as starting one. These tips can help you navigate the roadblocks that come with success.
You would think growing pains are a nice problem to have, but the challenges of scaling a business can trip up even the savviest of entrepreneurs. Sure, your store has grown forty percent in sales over last year, but you may not have the space to keep up with this growth next year. The increase in sales has helped cash flow, but that’s still not enough cash to open up a second location. How, then, do you scale?
An important new change to U.S. tax law quietly passed before the end of the year. I know, it sounds dull, but it’s actually quite exciting; the change is intended to help small and mid-sized businesses and might even work to stimulate the economy.
The boost for SMB owners comes from an adjustment to Section 179 of the US tax code dealing with deduction. The new rule establishes a permanent deduction for purchases of qualifying equipment.
With a new year comes the annual desire to understand what may be the important Human Resources topics, issues, and insights in the months ahead. In 2015, we saw a number of new trends, and in 2016, the HR landscape is changing more rapidly than ever before. Read on for 8 HR trends to look for in 2016.
Overtime changes – The Department of Labor has been hinting a major changes to overtime eligibility rules that will affect the minimum salary threshold. Much to the relief of much of the business community however, the DOL recently claimed that the rules likely wouldn’t be issued until late 2016. This gives employers more time to prepare for the shift; but be aware it is coming.
Technology drives modern business, regardless of size or industry. It’s how we interact with customers, distribute information, push revenue, and solve problems. However, for small and medium-sized businesses and startups, technology implementation is another in a long list of issues that result from a lack of resources.
Few people have the expertise to manage much of today’s technology, and most independent businesses cannot afford to hire a full-time IT staff, here are ways that managed IT services can really benefit small businesses.
By 2025, Millennials will make up about 75% of the work force. And as Millennials take over the workplace, the qualities that define a “leader” will change.
For example, The Millennial Leadership Survey states nearly all, 91% of all Millennials, aspire to be leaders, and 43% of them are motivated to be the kind of leader that empowers others. This is a major departure from the leaders of today; Millennial leaders aren’t seeking to be trailblazers in just business, these leaders are looking to make a difference and change the world. They want to lead with purpose, inspire, and challenge others to find their purpose.
Have you ever used your phone to find a place to grab a drink or dine while in an unfamiliar neighborhood? If you have, than you’ve used location-based services. This is a clever kind of mobile marketing that allows businesses to target local consumers. A location-based mobile marketing strategy enables small businesses to better attract random passerbys. This is a powerful offering that’s affordable and easy to do.
Any mobile strategy beings with your company’s website. Content you post on your business site and associated social pages should be ready to be consumed on various mobile devices. Why? Because web content recognized by Google’s search engine (which rewards mobile-friendly content!) will put your location on the map.
It has been over a month since EMV’s adoption began here in the U.S., and an overwhelming number of consumers are still unaware of this major change in the payments world.
If you haven’t yet heard, from this point on, merchants will assume responsibility of fraud brought from swiping an old magstripe card instead of scanning or dipping cards with chips. However, as with all new technologies, it’s going to take a little time to adapt.
Handmade goods ecommerce site Etsy is facing tough competition in the wake of the announcement of Handmade at Amazon. Just like Etsy, Handmade at Amazon is a digital space where artisans can sell their crafts to the public. In addition to the nearly universal brand recognition, Handmade at Amazon will launch with over 80,000 items, 600 of which will initially be eligible for Prime shipping.
– A following of 250 million customers all over the world
Saving is never easy, especially if you’re living paycheck to paycheck. A new banking service called Digit does the saving for you. Digit is a free service that analyzes your spending from your checking account, and takes a little bit every day. Digit takes the small amount from your checking account and saves it in a separate account on your behalf. Sure, it sounds a little sketchy but Digit is actually perfectly safe and insured by the FDIC. Your information is also encrypted and stored securely.
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