The business terrain is one that changes much faster than most -- basically because the way business is done evolves based on cultural changes, changes in technology and even generational changes. It is safe to say that at all times, at least one of these things is changing.

We are in the era of giving back and social impact. Businesses should face this, and stop using the fact that they are not yet big businesses as an excuse for boycotting charitable involvements or social responsibility. Businesses that do this are missing out on the great benefits hidden on the other side of socially responsible companies.

complete article

There are a lot of reasons to hate a job: annoying co-workers; bad working conditions; long hours for too little pay; the stress level; and more.

But one of the worst things -- arguably the worst -- is having a bad boss.

When you don't feel seen, appreciated, or listened to by your direct manager, it can have a dramatic impact on not only your work performance, but also your sense of self-esteem. Over time, you can begin to feel anxious, worthless, and demoralized.

complete article

The majority of small business owners agree that online marketplaces have positively impacted their sales, according to a poll by Manta.

Nearly 70% of small business owners polled stated that marketplaces like Amazon and eBay have helped them increase sales, while about 30% believe they have had a negative impact. Most small businesses (81%) believe that online sales are critical to their companys success, but most rely on their own websites as an e-commerce channel. Sixty-six percent of small businesses sell products through their own websites, 24% sell on Amazon, and 22% sell on eBay.

complete article

Once upon a time I was a member of the most productive crew in the department, which meant we were considered to be the best crew, because numbers were everything. But we didn't need a Jobs or Bezos or Sandberg or (pick your personal epitome of effective leadership) to get us there.

Steve was our Bobby Hurley (yep, old school college basketball reference): Always pushing, always encouraging, always making assists. Lee was solid: Never made mistakes, helped out the entry level workers, quick to make repairs and get running again. Jeff was our glue, coaxing surprising up-time out of the least reliable machines on the line while also serving as our quality conscience. Doug was easily rattled but his nervous energy helped him catch up when he got behind, and also to help keep the end of line workers straight.

complete article

U.S. Energy Secretary Rick Perry today announced that the Department of Energy will award 219 grants totaling $34 million to 183 small businesses in 41 states.  Funded through DOE’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, todays selections are for Phase I research and development.  

complete article

Optimism appears to be rising among small business owners (SBOs): 53% of the SBOs who participated in TD Banks 2018 Small Business Survey said they expect their revenues will grow in 2018. That is an improvement over the 46% of respondents who said the same in 2017.

In addition, the number of small businesses -- defined for purposes of the survey as those with $5 million or less in annual revenues -- that plan to hire this year more than doubled. In 2017, only 9% of respondents said they expected to add staff. This year, 22% said they intend to.

complete article

The Federal Reserve says that the economy is doing well, so it has raised its key rates recently and is expected to do so again in the near future. The strong economy is great for most businesses, but higher rates will likely increase what it costs for them to borrow.

So what's a small business owner to do? Understand how the system operates and consider the ways they can manage.

complete article

Want to get really, really rich? Starting your own business is the best way. Want your upside to be unlimited? Starting your own business is the best way. Want to be free to chart your own course, to make your own decisions, to make your own mistakes -- to let the sky be the limit not just financially but also, and more important, personally?

Starting your own business is the best way.

Still not convinced? Here are 15 more reasons why you should start your own small business today:

complete article

According to the Democracy at Work Institute (DAWI), a nonprofit that supports the development of worker co-ops, employee-owned small businesses see an average of 4% to 5% higher productivity levels and more stability and potential for growth. In contrast to traditional businesses, worker co-ops see much lower rates of employee turnover and business closure.

complete article

In the wake of yesterdays Supreme Court ruling, e-commerce companies are understandably both concerned and uncertain of their future. The 5-4 verdict overruled a 1992 precedent set by the case Quill v. North Dakota that only addressed mail-order businesses at the time, but it became a powerful legal bedrock for the e-commerce industry. It let companies without a robust physical infrastructure thrive during and after the dot-com boom by exempting purchases from sales tax, so long as the seller did not have a physical operation in the state where the customer resided. Now, following the court’s decision, states can start charging sales tax on internet purchases even when a retailer has no physical presence in that state.

A number of retailers, from Amazon to Etsy to Overstock.com, may be impacted. It is not necessarily because those corporations have been skirting sales tax collection, but some enable thousands of third-party sellers to do so, largely thanks to Quill v. North Dakota. In fact, Amazon, which last year started collecting sales tax in all 45 states that require it by law, may have a substantial amount of work to do to help its Amazon Marketplace sellers stay compliant.

complete article

Small business advocates largely grumbled after the nation's highest court overturned a decades-old decision on online sales tax.

The Supreme Court ruled Thursday that states now have the power to force online retailers to collect sales tax in states where they do not have a physical presence, reversing a ruling from 1992 in a 5-4 decision. The move also revives a 2016 South Dakota law that required large, out-of-state e-commerce companies to collect sales tax, one that big e-commerce players fought. Some online retailers, such as Amazon.com, currently collect state sales tax on products they directly sell but do not collect taxes from many of the independent sellers on the site.

The decision removes the sales-tax savings that consumers could reap by making purchases online instead of buying from local brick-and-mortar shops. Although the move does help to level the playing field for physical small businesses, it also places new burdens on small online retailers.

complete article

This transformation from hobby to business creates entrepreneurial avenues for people who might not otherwise have chosen this path. There are several types of activities that can be successfully monetized.

complete article

For most of us, that means establishing a nest egg in the form of an IRA, 401(k), or both. But a large number of small-business owners have a different sort of backup plan for covering the bills in retirement: their businesses.

An estimated 42% of small-business owners say that their businesses will serve as their personal pensions, so to speak, according to data from New York Life. But that's a dangerous proposition in several regards.

complete article

Making the right investment in your small business can mean the difference between growth and stagnation. What that right investment is – marketing, training, technology, labor, personal development – will vary from business to business and owner to owner, depending on a variety of factors.

Several entrepreneurs recently shared their best business investment from the past year, or top planned investment for this year.

complete article

While two-thirds of Americans dream of opening their own small business, recent data from the Bureau of Labor Statistics reveals that approximately 20% of small businesses fail in their first year, and about 50% of small businesses fail in their fifth year.

complete article

Here are five things in technology that happened this past week and how they affect your business. Did you miss them?

1 — Googles secret to protect its employees from hacking is physical keys.

Google has announced a robust solution for phishing cyberattacks against its employees. The company says the adoption of physical Security Keys has stopped the attacks. Security Keys are small USB stick devices made by companies like YubiKey that function similar to two-factor authentication (2FA) methods its employees may already be using.

complete article

Amazon is often blamed for the demise of the Mom and Pop store and other local and cultural icons of Main Street USA. There may be some truth to this, but it is also just as important to say that the company has helped many small and midsize businesses to grow and thrive.

complete article

No. 1: First, have a pretty good idea of what you are getting into before you start. Running a company is not a 9-to-5 occupation. And much, if not most, of running a business has little to do with the quality of the product or service you sell. You have to work long, hard and smart. And learn new things. Fifty percent of new businesses close (not fail) during the first five years, often because their owners didn’t realize how much time, expense and uncertainty would be involved.  

complete article

Every business has to find the right marketing tools to engage its desired audience, and there doesn’t appear to be one magic widget that works for every company every time.

Some find amazing results with social media, SEO and influencer strategies, often combined with compelling online content, some with old-fashioned direct mail, as in messages on paper delivered by a human postal carrier.

Several small businesses recently shared their best marketing moves, which cover a broad range of approaches and media. Here are a few of their ideas in this first in a series of articles on the topic.

complete article

Email is not going anywhere. There are 3.7 billion global email users, and that number is expected to grow to 4.1 billion by 2021. What is more, this communication channel is supremely popular: People check their emails multiple times a day, and when you're trying to market your company, you can get your name into thousands of inboxes just by launching an email marketing campaign.

The cost? Email marketing is also super-affordable, which makes it great for small businesses.

complete article

Business owners need to constantly learn in order to be successful. Whether you’re a beginner or a seasoned entrepreneur, resources like business experts, books, tools and exercises can help you shape your strategies and cultivate sustained success. Here are some suggestions from members of the online small business community for resources and tips that can help you build a successful business and life.

complete article

Those are the types of questions Google set out to answer. In 2008, they began research into what makes a good manager, code-named Project Oxygen. They originally identified eight behaviors that were common among their highest performing managers, and began training all managers to develop those behaviors. Over time, Google saw a marked improvement in key metrics such as employee turnover, satisfaction, and performance.

complete article

How to Get Traffic to Your Website

In building this strategy, it can help to get input from the experts who have been there before. Here are some tips and tricks ranging from content creation to SEO to social media from digital marketing experts around the web.

complete article

Here are seven reasons why your business is not generating sales:

1. You are marketing, not selling.

Reaching out to a networking contact is a sales call when that contact has expressed a need and interest for what you are selling, and you actually discuss your offer, your pricing, next steps and or other ways to move forward. If your networking meeting is to introduce what you offer or to reconnect in general, that is a marketing call. Many small business owners are busy on social media, tweaking their website, writing blogs, and catching up over coffee – all of which is great for marketing and may lead to sales eventually -- but these activities are not directly generating sales.

complete article

Social media, email, text messaging and other communication technologies are transforming government into a more efficient, effective and dynamic process. Whether it’s an elected official using Twitter to address constituents or a city using a Facebook page to make public announcements, government entities and elected officials are becoming more accessible and connected to constituents. And therein lie today’s nuanced First Amendment related challenges

complete article

Small business optimism is at a record high. In this year’s Wells Fargo/Gallup Small Business Index, business owners consistently reported positive attitudes about their current situation and their future.

Part of that optimism is due to the high availability of financing and access to credit that many small businesses need in order to grow. Indeed, many small business owners are taking the opportunity to use these and other cash flow management tools to expand their business.

complete article

Then, as the recovery progressed, taxes and regulations reemerged.   But over the last year, those two concerns have been displaced by the availability of qualified labor.  Finding qualified employees is always a concern in a growing economy and has certainly grown in importance in this expansion, even more prominent than in 2000, when the ratio of employment to the population hit a record high.

Assisting its rise to number one has been the decline in the concerns about taxes and the cost of regulatory compliance.  The sharp decline in concerns about taxes and regulatory compliance are most likely due to the policies of this administration.  Record levels of proposed regulations peaked in the last two years of the last administration but dropped to practically nothing early in this term.  Since then, many existing regulations and rules have been eliminated or scaled back.

complete article

It is not a one-time undertaking but an ongoing process that must be revisited throughout the life of any business. In fact, nearly half of all CEOs launch a company reorganization during their first two years on the job.

complete article

Well, it turns out that, according to decades of academic research, introverts are more likely than extroverts to have those characteristics:

1. Introverts are generally more creative.
Introverts are famously more creative than extroverts. According to the journal Perceptual and Motor Skills, Creativity is a problem-solving response by intelligent, very active, highly emotional, and extremely introverted persons.

complete article

Behind every Google search, there is an intention. People are looking for something in particular when they are searching the web -- the answers to their problems, information about the services available to them or sources for the product they want. If you want your business to be discovered by users on the web, your content needs to be optimized for user intent.

Since Google can recognize user intent, it displays pages in search results that are most relevant to what the user is looking for. Because of this, understanding user intent and creating content with the user's intent in mind is essential to improving the relevance of your website pages and improving SEO.

complete article

Entrepreneurs start their own businesses or side hustles--which you can do in just a few hours--for a variety of reasons. Some want to be their own boss. Others want to make their living by doing something they love. Others seek the opportunity to make a bigger difference in the lives of others.

complete article

These days, content marketing is considered a crucial aspect of any company's advertising efforts. Yet, for a new startup with a limited budget, trying to find a way to craft compelling blogs, social media posts or infographics can seem overwhelming.

complete article

Running a business often means you have your hands in every aspect of the company. You are managing day-to-day tasks and making crucial business decisions all at the same time. It's no wonder small-business owners can often lose sight of the forest for the trees and get mired in the task of simply getting through each day.

Taking a step back gives you a tremendous amount of insight that not only reenergizes you to keep going, but can lead to crucial business decisions that transform and grow your business. Finding a way to build that inspiration into your life is not just a luxury—it is a necessity if you want to maintain a thriving business.

complete article

Books can make us smarter, more informed, even more intellectually humble. But one of the most powerful benefits of regular reading is greater empathy. Through words you are transported to another's perspective. You look through their eyes. You understand their pain and their joy.

That can relieve loneliness and make life a whole lot more pleasant, but it's also good for business. Understanding customers and collaborators helps you get more done and be more creative.

So how exactly do books accomplish this magic trick? On Lit Hub recently Tufts University professor of child development and reading expert Maryanne Wolf explained the fascinating neuroscience of exactly what immersion in a good book does to your brain.

complete article

Savvy small businesses are already looking ahead to the holiday shopping season, including Black Friday, Small Business Saturday and Cyber Monday. Here are four things you can do to prepare your business for the holidays.

complete article

Whether you are a small business owner, a consumer, or the CEO of a big corporation, you likely know that small companies are a pretty big part of the economy. This year, show your support for small enterprises by participating in Small Business Saturday® (SBS).

My accounting and payroll software company, Patriot Software, is an advocate of Small Business Saturday. And personally, I am a major supporter of small businesses. I know how much time, dedication, money, and hard work entrepreneurs pour into their small companies.

complete article

The growth of cybercrime will cost the global economy more than $2 trillion by 2019, according to the Better Business Bureau’s 2017 State of Cybersecurity Among Small Businesses in North America report.

Cost of a Cyber Attack
When it comes to small businesses, the report said the overall annual loss was estimated at almost $80K or $79,841 on average. And as more small businesses become equal parts digital and brick-and-mortar, securing both aspects of their company is more important than ever.
The risks small business owners face in the digital world has increased their awareness of the dangers of this ecosystem. A survey conducted by GetApp in 2017 revealed security concerns ranked second as the challenges small businesses were facing.

complete article

Despite recent stock market turmoil, everywhere you looked this year someone was heralding the strength of the economy, which grew at 3.5 percent in the third quarter. However, not all economic growth favors small businesses, and some even detracts from it. The Inc. Entrepreneurship Index, which measures the quarterly health of the U.S. startup economy, currently sits at 83 out of 100 for the third quarter of 2018. This is down two points from the second quarter and a full nine points from the first quarter of 2017, when our Index peaked. Our indicator sees one factor in particular still dragging like an anchor on the startup economy: job growth.

Even though overall economic conditions have been largely favorable, small businesses have hit a growth ceiling as larger companies--bolstered by generally strong market conditions, favorable tax policies, support from local governments, and easing federal regulations--have been gobbling up talent. This is why, for the past year, the Index has shown a startup economy that is strong but slowing.

complete article

This past year, 2018, has been a very good one for innovation. We've seen the blockchain boom, the increase in low-code and no-code app development, the start of the rollout of 5G technology and AI and AR: All came into their own with countless programs and applications for both business and consumer life.

On the coattails of such a year, I believe that 2019 has the opportunity to show even more promise. Here are the trends I predict we will see in small businesses and across the industry as a whole:

complete article

The global manufacturing market has experienced a myriad of changes in recent years. Particularly in the U.S., automation, offshoring and technology have made a major impact on manufacturing businesses of all sizes.

Manufacturing Trends
Here are some facts and statistics that illustrate these prominent industry trends.

Manufacturing Market Size
The median annual revenue for manufacturing companies is between $50 and $100 million per year.
About 7 percent of manufacturing companies have annual revenues under $1 million.
In the U.S., manufacturing makes up 12 percent of the national output.

complete article

Incorporating augmented reality (AR), whereby an interactive experience of a real-world environment is created by computer-generated perceptual information, into business operations, marketing and functions, is not confined to big businesses with big budgets to play around with.

On the contrary, many small businesses are jumping on the burgeoning AR bandwagon, as a means of attracting new customers, retaining existing ones, and ultimately becoming more competitive and profitable.

complete article

Small business owners are often so involved with the day-to-day operations of their business, many feel they don’t have the time to look down the road and plan for retirement.

And as a result, some entrepreneurs may never be ready to retire. According to a survey by Manta, one-third of business owners don’t have any retirement plan, and 75% of respondents to a BMO Wealth survey said they had “$100,000 or less” saved for retirement.

complete article

Bloom Brewery is the kind of Main Street business that shut its doors a generation ago when shopping malls lured customers to their mega-buildings with well-lit parking lots, extended hours and everything imaginable under one roof.

The brewery, which offers 24 artisanal beers on tap, sits near the Great Allegheny Passage, a 335-mile bike trail that has connected Washington, D.C., to Pittsburgh since 2013. And with it, a new kind of customer is being drawn through its doors, seeking comfort and community instead of big-box discount deals.

complete article

The end of the calendar year is a natural time to reassess how your business did in the previous 12 months and then devise a plan for improving. By almost every measure, 2018 was a good year for the economy. Small business optimism is high, holiday sales were the strongest in years, unemployment is low, and consumer confidence hit an 18-year high in September before tempering a bit in November.

It would be hard to duplicate the atmosphere that prevailed in 2018. The impact of President Trump’s tax cuts will lessen, interest rates have risen again, and the Dow Jones dropped from 25,862.43 on December 3 to 21,792.20 on Christmas Eve, a sign that the economy may be slowing.

Small business owners need to take all of these factors into account.

complete article

Many of us are wondering, for example, how the U.S. economy will impact business. Will hiring finally ease up? How will younger generations change our workforce?

Without a crystal ball, it's tough to answer every question. But, given trends we saw this year, it is possible to make a few educated predictions about what small businesses should prepare for as 2019 approaches. Here are my top four predictions:

2019 is the beginning of the Gen Z takeover.

complete article

2019 Marketing Automation Trends

If you want to use marketing automation to help your business succeed in 2019, your approach to automation will predetermine much of your success. To start out strong, consider bringing the following marketing automation trends into your strategy for the year ahead:

complete article

Here are the statistics and headlines that you should be aware of.

Facebook Popularity
Facebook has more than 2.2 billion active members around the world.
More than 1.6 billion people around the world have used Facebook to connect with a small business.
More than 80 million businesses use Facebook to connect with customers.
But it’s not all about growth. 42 percent of U.S. adults have taken a break from Facebook for a few weeks or more.
44 percent of younger users have deleted the Facebook app from their phones in the past year.
But only 12 percent of older users have done so.

complete article

A healthy economy means many small businesses are thriving -- but they're also having a hard time hanging onto employees. A good 24% of small businesses lost at least one employee in 2018, while 11% of small businesses lost 10% of their workforce, according to Bank of America. Not only that, but 58% of businesses had trouble finding qualified candidates for open roles, and 25% said it took more time to fill open positions in 2018 than it did in 2017.

And there lies the problem with a strong job market: When employment is plentiful, workers have more options to choose from, so getting them to join or stay with your team becomes more challenging for companies across the board, but particularly for small businesses with limited resources.

complete article

The 2018 holiday season is in the books, and small to medium-size businesses (SMBs) sold big on Amazon. In fact, SMBs had their best holiday shopping season ever.

The e-tail giant itself had a record-setting holiday season as well: More items were ordered worldwide on Amazon than ever before.

But it was not just corporations like LEGO that benefitted from all this shopping. More than 50 percent of all items sold came from small and medium-sized businesses.

complete article

When Mandy Bass speaks to business leaders and professionals who want to improve sales, productivity, teamwork, customer satisfaction and profitability she consistently finds that they are working way too hard to achieve the results they seek. With that in mind, for the New Year she has compiled a list of seven small or low-cost things that could get small business owners, solopreneurs and sales professionals big results in 2019.

complete article