When talking to people about how things are going in their business, I have discovered some common tasks. People who have successful businesses are doing certain things on a regular basis that appear to be 
similar. Also, it seems those who are struggling are not doing these things. In addition, I have noticed that sometimes small businesses believe that the normal business principles that work for larger companies do not apply to them because they are a small company. At times, small business operators are not necessarily formally trained in business, rather, just nice people with a great idea trying to figure out how to make it work. That got me thinking about what key elements that I feel make businesses successful to avoid potential pitfalls. Below are the three things that I feel are critical for every small business to ensure success. Continue reading “Top 3 Things Every Small Business Must Do”
Category: Small Business Tips
This category is where we will do our best to provide useful tips and tricks for the small businesses that we get to work with every day. We will provide details on business practices, ideas about running your business and other helpful information.
Sales Tip – Basing your sales call goals on getting told NO!
So you have read the title of this blog and you must be thinking I have lost my mind, but this is not a new sales technique. Throughout my career in sales and marketing, I have heard this strategy in several different variations. I am not sure who originally coined it and definitely not taking credit for its invention, but think it is very beneficial technique to generate business. Personally, I compare this approach to a similar strategy for playing Blackjack. Side note, I’m a horrible Blackjack player and seem to be the guy who can have a 20 with the dealer showing a 6 and inevitably the dealer will pull a 5 card for 21! But…I am not crazy; this really is a good technique. I have heard it from other professionals and it makes sense. Continue reading “Sales Tip – Basing your sales call goals on getting told NO!”
Taxes Are Not An Afterthought – 2013 Is Too Late For 2012 Decisions
It’s November and chances are that the last thing on your mind is taxes. After all, April 15th is a long way off and Holiday production season is ramping up now. But that can be a serious business mistake, as the last day for making strategic 2012 tax decisions is pretty much 12/31/12 and considering that its New Year’s Eve, in all likelihood it will be too late. A great example is the Section 179 deduction. Depending on your tax bracket, buying a new sublimation system now could be like getting a 35% discount! How does it work?
In basic terms, rather than depreciating your new system purchase over 5 years, Section 179 of the Tax Code allows you to deduct 100% of any qualified equipment purchases in the tax year in which it was purchased. In other words, if you bought a new printer that cost $1000 (before the end of the year) you could deduct the entire amount on your 2012 taxes, which would then reduce the amount of your taxable income. And it’s not limited to one purchase! So, strategy-wise, if you were seriously considering some new equipment purchases after the first of the year, you might actually be better off to consider closing the deal during the waning months of 2012. Continue reading “Taxes Are Not An Afterthought – 2013 Is Too Late For 2012 Decisions”