Independent Contractors: Get Paid On Time
http://www.businessweek.com/smallbiz/content/apr2010/sb20100426_562725.htm
Karen E. Klein
Bloomberg BusinessWeek
Tuesday, April 28, 2010
Karen outlines some ways to clearly define how you expect to be paid for your services as an independent contractor, or any service provider really. Establish the payment criteria in the contract and stick with it. We all have that one client that we want to help out by giving some flexibility, but the rest should know what is expected for the services provided. I’m not sure I would push for the aggressive collection tactics that she indicates, but then again, we don’t have collection issues because everything is discussed up front.
Referral Based Selling
http://www.thejfblogit.co.uk/2010/02/04/some-interesting-facts-about-referral-based-selling/
Jonathon Farrington
Jonathon Farrington’s Blog
February 10, 2010
I first heard the term “Referral Based Selling” and some statistics related to it from Jim McDermott back in 2002 when he was part of the founding team of Spoke Software. Before there was Facebook, MySpace and LinkedIn and social media was in it’s infancy, Spoke’s mission was to connect business people and turn every cold-call into a referral, which dramatically reduces selling and closing times and costs. This blog-post from Farrington provides some updated statistics on the value of referrals and gives a good overview of why this type of selling works. We are obviously believers. Insight Press Release.
Get the New Business Tax Breaks
http://www.smartmoney.com/Personal-Finance/Taxes/Get-the-New-Business-Tax-Breaks/
THE TAX GUY by Bill Bischoff
SmartMoney
March 24, 2010
With all the hoopla regarding the Healthcare reform that passed last month, some might have missed this. Tax credits available for businesses that hire an out-of-work person to fill a position, for those that hire and keep that person employed for 12 months, and the continuation of generous Section 179 deduction provisions from 2009 into 2010. Read on if you are interested in such things.
BigCommerce Turns To Facebook To Socialize Online Storefronts
http://techcrunch.com/2010/03/24/bigcommerce-turns-to-facebook-to-socialize-online-storefronts/
Leena Rao
TechCrunch.com
March 24, 2010
It is getting easier and easier to sell your wares online and to share your business happenings with your friends and colleagues. Our Blogsite is tied to our Website and to our Facebook page via an automated stream. Now you can connect your online store directly to a page within Facebook, as well. The lines are blurring…
Life Plan Before Business Plan
http://smallbiztrends.com/2010/03/life-plan-before-business-plan.html
Melinda Emerson
Small Business Trends
March 22, 2010
Every good business coach, life coach or motorcyclist will tell you that you steer where you look. If you believe you will have a small business, that is how it will turn out. If you believe you will have a larger business that operates in a specific way, and you remind yourself of those goals regularly and publicly, you will steer your business in that direction. Going one step further, developing a life plan for how you would like your professional life to interact with your personal life will help you to craft a business plan that will be focused in the right directions. Chuck Blakeman at TeamNimbusWest has some great insights on this very topic.
Get Rid of Bad Customers
http://www.openforum.com/idea-hub/topics/managing/article/get-rid-of-bad-customers-julie-rains
Julie Rains
American Express OPEN Forum
February 17, 2010
We all know that certain clients can be particularly demanding and that we can spend too much of our time dealing with them. At a former job, we called these people “Dr. & Mrs. Crazy.” But when do you say, “Enough?” And how do you get these monkeys off your back so you can focus on the right clients? This article provides good tips and some examples that might make you nod your head in recognition of these problem accounts.
Putting a Face to a Name: The Art of Motivating Employees
http://knowledge.wharton.upenn.edu/article.cfm?articleid=2436
Knowledge@Wharton
February 17, 2010
Some interesting research and findings from Adam Grant, a Wharton Management professor. Employees who feel connected to the people who their employer serves are happier and more productive, particularly if they meet face-to-face with the people who benefit from their work. In every job, there is an “end user” of the work that is performed. So whether it’s a client, the recipient of donor funds or Bob in the warehouse benefiting from your efficiency, having a purpose makes employees happier and has a positive impact on the bottom line.
Tips for Negotiating With a Potential Landlord
http://www.openforum.com/idea-hub/topics/managing/article/tips-for-negotiating-with-a-potential-landlord-thursday-bram
Thursday Bram
American Express OPEN Forum
February 10, 2010
Perhaps the biggest points to note in Bram’s tips for negotiating space are that there are many ways to negotiate that have nothing to do with price but can still provide you with value, and to have an attorney (or an experienced commercial broker) assist you with the negotiations and review of the lease agreement. Going it alone can, at best, leave some money on the table and at its worst, obligate you to expensive provisions on the back end of the lease that you don’t realize at the time of signing. Consult the experts. Always.
Turning purchase orders into cash
http://www.nytimes.com/2010/01/31/business/smallbusiness/31order.html?pagewanted=1&ref=smallbusiness
Andrew Martin
New York Times
January 30, 2010
With so much talk about the credit squeeze on small businesses, this article (albeit long) is an interesting insight into a financing vehicle not normally considered, but potentially very valuable. Purchase order financing is available on a “per transaction” basis for companies that secure large purchase orders but do not have the near-term capital to fund the build or acquisition of the goods necessary to satisfy the purchase order. Many companies have been in this boat before (I’ve worked with a few) where they have access to a profitable transaction but not the cash necessary to make it all happen. These purchase order financing groups, while relatively expensive, can help cover these short-term financing needs, where traditional banks dare not tread.
Take the Long View When Negotiating With Your Vendors
http://www.openforum.com/idea-hub/topics/money/article/take-the-long-view-when-negotiating-with-your-vendors-thursday-bram
Thursday Bram
American Express OPEN Forum
January 29, 2010
An insightful piece about vendor management and maintaining relationships with the people that are helping you to grow your business by providing you with access to materials and services. At the core, you want to make sure that you have a mutually beneficial relationship with your vendors, one in which you get a good price and they make a little bit of profit, to ensure that they stay in business and want to continue to work with you. I’ve watched too many short-sighted business owners try to beat up vendors for every last dollar, only to later discover that they don’t get the attention that they want, that short-cuts were taken or that they have been “fired” by the vendor because they can no longer afford to do business with them. Pay on-time (or early to get cash discounts) when you can and be honest with vendors and work out payment arrangements when you can’t. They are your business partners, whether you like it or not, so keeping them in the dark will only injure those relationships long term.
