Don’t Give Them All the Answers: Putting Autonomy to Work

If you’re a business leader who feels more like a schoolteacher, you’re doing something wrong.

When an employee comes to you with a question, it may seem counterproductive to tell him to figure it out on his own, but sometimes that’s the best thing a leader can do.

It might be easier and make you feel more comfortable to give them all the answers, but by allowing employees to find the answers themselves, you’re empowering them to be resourceful and learn from their mistakes, which is more beneficial in the long run.

Leader assigning responsibilities

The Benefits of Withholding Answers

Having all the answers is great, but that doesn’t mean you have to share them.…

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Don’t Let Pirated Software Sink Your Business

If you download pirated software from Pirate Bay or another torrent website on a computer you use in the workplace, then you’re placing your entire business network at risk. A person downloading pirated software has a one-in-three chance of encountering malware. However, the risk isn’t just in downloading the latest version of “Modern Warfare” before it comes to the U.S. Businesses that purchase refurbished computers containing pirated software have a 61-percent chance of encountering malware.

Pirate girl

Recent research released by IDC and the National University of Singapore predicts that pirated software will costs businesses approximately $491 billion in 2014. The majority of the cost, $364 billion, comes from lost data, damage repair and identity theft expenses.…

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5 Tax Pitfalls to Avoid This Year

Most entrepreneurs shudder at the thought of dealing with their taxes. With their eye firmly on growing their business and forging ahead the idea of meticulously tracking and recording every aspect of their business is at the very back of their minds. But if anything is going to take the wind out of a business’ sails it’s not keeping everything in order.

Business taxes

Here are five of the most common things that tend to trip up entrepreneurs. Make sure you avoid them this year.

1. Claim Your Legitimate Expenses

Make sure that you claim for every item to which you are entitled.…

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How Text Message Marketing Can Spike Traffic During Slow Times

Sometimes business is booming, and other times things are a little dead and it seems that attracting a crowd is something beyond impossible. Seasons change, and with them maybe your business traffic takes a dip. From landscaping companies and snow plowers to restaurants and movie theaters, there are just times of the year, month, and day that your business slows down considerably.

Text marketing

These slow time periods are definitely not desired and can put a major crunch on your cash flow. But, there are ways that you can help combat those slow times. One great way is through the use of text marketing.…

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Survey: Most Business Owners Remain Optimistic in California

Most California-based entrepreneurs want to invest more resources to grow their company, according to a recent survey by California Bank & Trust (CB&T). About 60 percent use social media and Web marketing to promote their business, and many business owners believe their products and services will see growing demand.

Downtown San Francisco

photo credit: Adam Kuban

Nearly 38 percent of small business owners want to conduct international sales efforts, while 53 percent want to hire new employees in 2014.

These plans reflect optimism among entrepreneurs: Over 86 percent say their business is heading in the right direction, while 63 percent expect their company’s growth rate to increase in 2014.…

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How Much Internet Does Your Business Need?

No matter how many apps and tools you have to help you run your business, the key to a successful business is making sure that you have enough internet for your needs. The last thing you need is to be in the middle of a video conference, or just trying to upload a send a large file to a client, and discover that your current speeds aren’t enough to handle the task. On the other hand, if all you do is occasionally access the internet and check email, you don’t want to spend a lot of money on bandwidth you don’t need.…

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Dear SMB Owner: Think You Don’t Need CRM Software to Maximize Sales?

This post isn’t a promotional for any single type or brand of “Customer Relationship Management” software. I just want to outline some of the benefits of using one for those of you who’re starting a business soon, or who may be on track to expand your new or established SMB in the near future.

Zoho CRM

I’m not going to recommend any specific software in this post. If you’ve tried CRM’s that are great – or ones that are garbage for that matter – please leave a comment after this article so everyone can benefit from your knowledge.

Benefits of Using a CRM for Your SMB:

Team compliance

How often do you find yourself in a situation where a team member is giving you the “I forgot excuse” when it comes to your sales or customer service process?…

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5 Ways Hiring a Chartered Accountant Can Improve Your Profit

Sometimes in the rush to get a small business up and running entrepreneurs overlook critical areas that vastly improve their chances of success. These oversights can be just down to focussing on the grand vision too much without considering the finer details, or it can be a desire to minimise expenditure because most small businesses aren’t flush with capital in the early days. One of the most common, and potentially damaging, is not hiring an accountant from the off.

Hiring a chartered accountant

With the amount of off-the-peg accounting software available it’s understandable that new business owners will consider running their books themselves, but very few entrepreneurs have the time to dedicate to doing a good job of the business accounting and even fewer are genuinely accounts literate.…

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‘I Am Small Business Proud’ Campaign Shares Story of Immigration Lawyer

This week, Capital One’s I Am Small Business Proud campaign is making stops in Texas to interview entrepreneurs in various industries. The nationwide trek is part of a 35-city tour by Brooklyn-based filmmakers Trisha Dalton and John Sears who are “gathering exclusive content and insights into the lives of small business owners,” according to their rep.

Starting a Law Firm

On Monday, the filmmakers visited Austin, Texas where they interviewed Vi Nanthaveth, founder of an immigration law firm. Like many who migrate to America, Nanthaveth started her business after gaining experience in her profession.

Vi Nanthaveth

“I almost feel like [immigration law] was something that fell on my lap,” says Nanthaveth.…

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6 Steps Every SMB Owner Needs to Complete After Incorporating

Forming an LLC or Limited Liability Corporation is a great first step toward legitimizing your company and to insulate you and your family from the financial liabilities of your business.

Most small business owners quickly find out the hard way that there’s a few more steps they need to take before moving away from their days operating as a sole proprietor.

SMB owner

Here are 6 you don’t want to forget about:

1. Compliance Plan

Now that you’re an LLC, the state(s) you operate in and are registered in will expect a yearly report. This is more of a formality than something you’ll need to dread every single year, simply involving you updating your company and personal contact info for state records.…

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