Is your sales force too small? Too large? Find out by using the incremental method suggest by expert Mike Periu. I recently had coffee with the owner of a distribution company that has enjoyed success in the past and has been trying to rekindle sales. We were talking about the key challenges he faced trying to increase revenues given the current state of the economy and afterwards he invited me to see his operations which were only a few blocks away. I agreed. When he opened the door to his … [Read more...]
Changes To Look For In 401(k) Loans
Are you aware of the changes that may be coming to 401(k) loans? And what if means for your business? You should be. Like all tax-deferred retirement accounts, 401(k)s exist to incent individuals to save for retirement. Given the state of our nation’s entitlement programs, it is more important than ever to invest the absolute maximum possible in defined contribution, tax advantaged accounts like 401(k)s and IRAs. Funding these accounts, however, is only half the battle. The other half consists … [Read more...]
How To Calculate The Size Of Your Sales Force
Growing your sales force too quickly can lead to wasted time, and money. Have you thought about the size of your sales force lately? If you grow your sales force too quickly it can be a huge problem. For starters, you may not have the expertise to manage it, and there may not be an established market or sales process in place for them to follow—leading to wasted time and money. It can also lead to frustration and disenchantment, which sooner or later morphs into high turnover. On the flip … [Read more...]
The problem with employees is that they think like employees and not like owners
What is the Problem with employees? and Why You Should Teach the Janitor About Finance. Is it realistic to expect employees to act like owners? As an owner, the personal stakes for you are very high. A successful business can make you a millionaire many times over. "The problem with employees is that they think like employees and not like owners" Your personal reputation is on the line. Nothing less than the very sense of who you are is at play when you are the owner. For employees, it … [Read more...]
Protect Your Company Against Unemployment Insurance Increases
State unemployment insurance is an important lifeline for millions of families across the country. The money to pay for this insurance is provided by employers, and the state governments administer the programs. Most companies don’t think about state unemployment insurance because they simply outsource the calculation and payment to a third-party provider, typically a payroll processing company. While you may not calculate it yourself, it’s still important to understand how it works because … [Read more...]
Is Paid Sick Leave a Good Idea?
There are few things more annoying than sitting next to a coworker who is continually coughing, sneezing and complaining about how badly they feel. If you are like most people, you might think to yourself “why didn’t they just stay home? That’s what I would do.” According to a recent study by Monster.com, the odds are that you wouldn’t stay at home to recuperate. You would instead be part of the 71 percent of workers who go to work even when they are ill. Of the 29 percent that do stay home, … [Read more...]
Employee Fraud: Detecting Employee Theft and Occupational Fraud at Your Company
The Association of Certified Fraud Examiners (ACFE), the largest anti-fraud organization in the world with over 50,000 members, recently published the results of its biannual study on occupational fraud (also known as employee fraud). With millions of people facing financial hardship, the odds that someone at your company may steal increases. Reading the report will serve as a wake call to business owners who haven’t actively addressed the issue of employee fraud. Three types of … [Read more...]