It looks like politicians have forgotten to add a little Christmas cheer to their end-of-year work schedule. The Grinch That Ruined The Payroll-Tax Holiday. December 24, 2011It looks like politicians on both sides of the aisle have forgotten to add a little Christmas cheer to their end-of-year work schedule. Business owners and employees have anxiously awaited legislative confirmation that the current payroll-tax holiday would extend into next year. Both Democrats and Republicans agree … [Read more...]
Get Your Financials Investor-Ready
As you ring in the new year, make sure your financial models are investor-ready with these helpful tips. As 2011 ends, I’d like to make an appeal that will help aspiring entrepreneurs make money. Get your financial model in investor-ready shape before sending it to potential investors. I recently met with a newly minted entrepreneur who left a successful corporate career to launch a company that he believes will disrupt a $100 billion industry. I went over the business pitch and, more … [Read more...]
Why You Should Add A Stress Test To Your 2012 Plan
A stress test will predict how something, whether it's your heart or your business, will react under simulated strains. As the year begins to wind down, many companies are putting the finishing touches on their financial and operations plans for 2012. Regardless of how far along you’ve gotten in your planning, you should consider adding a stress test if you haven’t done so already. A financial stress test has much in common with the well-known cardiac stress test. In both cases, the goal is … [Read more...]
Companies are hoarding cash
Companies are hoarding cash, stake your claim on $850 billion , there are still business opportunities available. You just have to prove your case. The 1,000 largest publicly traded companies in the United States hold a collective $850 billion in cash, according to recent research by REL Consulting. The global working-capital consulting firm compiled this statistic by reviewing financial filings through June of this year. This amount of cash is 6 percent more than last year and an astounding … [Read more...]
living from a barely profitable small business
Is it practical to keep squeezing out a living from a barely profitable small business? Should You Just Get A Job In 2012? The last few years have been tough for small business owners trying to squeeze out a living. Some are now realizing that they really don't have a business, but instead just a very risky job. Business strategist, Carol Roth calls this a "job-business." Of the 21 million small businesses in America, she says 60 percent never earn a profit in the life of the business. In … [Read more...]
Why You Should Reward Average Performance
In our nearly obsessive focus on the exceptional, we have also gone too far in ignoring average performance. When was the last time someone thanked you for doing an average job? Still thinking? Well that’s not surprising. Our culture is designed to reward exceptional performance in both personal and professional settings. If a sales manager achieves their quota right on time and right on budget, the reward they receive is the privilege of keeping their job. To an extent, this is reasonable … [Read more...]
Employee Retention: Warning Signs That Your Employees Are About To Leave
Don't let the poor job market fool you. Employee retention is not an issue to be put on the back burner. With the poor state of the job market, many business owners take it for granted that their employees won't quit. This relaxed attitude towards employee retention has reduced employer engagement on addressing employee-related issues. It’s a mistake to assume that your most talented employees, especially your superstars, won’t consider offers by competing companies. Assuming that a poor job … [Read more...]
Don’t Let Uncle Sam Spoil Your Gift Giving This Holiday Season
Are holiday gifts for your employees and clients deductible? Before you start spending this holiday season, read up on these IRS rules. As we enter the Christmas season, many business owners want to display their gratitude to customers and employees by showering them with generous gifts. During this tough economic environment, making the extra effort to display appreciation will be duly noted. Yet many business owners fail to realize that the IRS takes a different view of gift giving. They tend … [Read more...]
Does The Occupy Wall Street Movement Have A Point?
The Occupy Wall Street Movement: Who is the 1 percent, and should they pay far more in taxes because of their successes? The Occupy Wall Street movement appears to be losing its steam due to evictions and bad weather, but their rallying cry of the 99 percent appears to have struck a nerve—at least with the media and some politicians—and will likely be a key theme of the 2012 election season. The central issue that these people are raising is fundamentally one of perceived fairness. In their … [Read more...]
3 Business Lessons From The Godfather
The Godfather: One of the most successful movies of all time can lend you some valuable business lessons. The 1972 movie The Godfather is without question one of the best motion pictures ever produced. It was the top-grossing movie of that year, won multiple Academy Awards and launched a genre of movies that catapulted the theme of organized crime into the popular culture spotlight (for better or for worse). Before the movie, there was Mario Puzo’s novel of the same title, written in 1969. The … [Read more...]
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