Running or managing a small business often leaves little time to keep track of national, and even regional, economic indicators that might affect your industry and your specific operation. Yet conditions such as interest rates, inflation, gross national product, stock prices and consumer confidence have direct impact on your profitability and on relationships with vendors, customers and even employees.

As a former legal specialist in the Office of Chief Council for the Internal Revenue Service, I suggest that home-based business owners and other small business entrepreneurs examine ways to reduce their tax liabilities before the end of the calendar year. The federal tax laws allow home based business owners to hire their children and pay them a wage. Not [...]

If you are a small-business owner and want to grow your business, hiring at least one employee is essential. These are the three major reason for taking that step: finding an assistant to perform some of the administrative tasks, which will allow you to devote your attention to the products and services you provide, hiring someone so that the business [...]

Business phone systems are easy to setup and are necessary to improve the efficiency and professionalism of a business. Business telephone systems often consist of numerous interconnected phones used for internal communications and external communications. The number of connections will depend upon the number of employees in the office.

Just because a business only has a few employees, that doesn’t mean that some sort of group health coverage is out of the question. In fact, many health insurance providers will work with companies that have as few as two employees to come up with a viable coverage plan.

Computer software is similar to a car in some respects. A car gets you where you want to go – and is a great deal faster than walking. Software performs much the same function. It drives the computerization of your business, getting you to your destination – accounting, for example – in far less time.

Are you anxious about selling yourself and your services because of a negative view of selling? Let’s bust a few myths! 1. A salesperson can sell you something you don’t want. People buy to satisfy needs and wants. A salesperson may help a customer to identify their needs and wants but customers only buy when they believe the product or [...]

You’ve spent years — maybe a lifetime — build- ing a business, and now you’re ready to move on. With so much time, money and energy invested, you want to ensure that the fruits of your labor are duly rewarded. Before you take the plunge, take stock of the marketplace. Is the economy too sluggish or credit too tight? Decide [...]

Many small business people have great ideas for products or services, but don’t want to sell or don’t know how. They’ve defined their target market and how to reach it, and have mastered the financial aspects of running a company. However, often missing is a clear understanding of the sales process – or the willingness and ability to initiate successful [...]

The patent system, as it applies to individuals, has gotten completely out of hand. Most product creators, reinforced by the media, put a false importance and status to the power of the “almighty patent”. Due to this myopic perception, people waste money at the rate of well over $100 million every year. Why are patents overvalued in the minds of [...]