bizthreads.net: Business Information for Entrepreneurs by an Entrepreneur

Your Small Business – Hiring Family Members

When you start a small business, the idea of hiring employees can be overwhelming. You may be concerned about your ability to pay these employees regularly.

Additionally, you may be worried about your ability to trust them with your business and manage them effectively. For this reason, many people hire family members to work for them.

However, hiring family members can have its pros and cons.

Consider Carefully

When hiring family members you need to consider their qualifications. Never hire a family member because of familiarity alone.

Take an unbiased look at their actual qualifications and determine whether or not they would enhance your business. Regardless of how comfortable you are with someone, first and foremost they must be able to do the job at hand – no matter who they are.

There is no right or wrong answer as to whether or not you should or shouldn’t hire family members to work in your small business. On one hand, a family member gives you a sense of security unfound with an unfamiliar employee.

However, it can change the dynamic of your relationship with them.

Establish Clear Guidelines

That is why it is important to establish clear guidelines regarding professional conduct and your business relationship.

When hiring family members it is important to first view them as an applicant and consider their value as an employee. It is important to maintain professional guidelines so that your business is not affected by your personal relationships.

Once you are certain that they are qualified for the position and you are certain of their ability to be professional you can hire them with a sense of confidence.

Need Creative Help? Try These Online Resources

When you start a small business, you need to advertise, brand and create business materials. Many people do this on their own, but often it is best to hire creative professionals to assist with these tasks.

Graphic artists, writers, software professionals and technical experts can be of great use to you in the beginning phases of operation. However, you may not want to hire them on as a permanent employee.

There are many places where you can find creative professionals to help you temporarily.

Web Forums

Forums are a great resource for finding creative professionals to help you with your small business.

Often forums have a section in which you can buy, sell or trade services with creative professionals.

These forums are often crawling with individuals who freelance and are looking for work.

Hiring Sites

There are a number of sites online like Guru.com that allow businesses to connect with creative professionals looking for work.

These sites allow you to place want ads and browse professional profiles and portfolios. They also help facilitate a smooth transaction with easy-to-use user tools and feedback.

Free Classifieds

There are a number of websites online that allow you to place free classified ads on their site. This allows you to place a help wanted ad when you are looking for creative professionals.

Just keep in mind you may get flooded with responses using this method - so it is wise to give yourself adequate time to go through them all.

Hiring a creative professional to help you with your small business can be tricky. It is important that you see samples of their work before hiring them and see feedback or review references.

The most important thing is that you protect yourself and your small business by using a careful hiring process.

How to Communicate Effectively With Your Employees

Learning how to effectively communicate with your employees may seem like a no brainer. However, many people make critical errors when relaying their expectations to their employees.

The fact is, your actions (or lack thereof) can have a direct impact on employee productivity. Using proper communication methods can help bridge the gap between you and your employees, thus making your business run more smoothly.

Proper Training

When you hire an employee, make sure they clearly understand the full details of the job you are hiring them for. Outline what software programs you use, your expectations of conduct and the actual tasks they will be expected to complete.

When you hire them, have a senior employee train them for their position. Never just throw them into the fire without showing them the ropes.

Have regular employee performance reviews. This gives you an opportunity to reward employees who are performing well in their given position. In addition, it gives you and your employees the opportunity to address any issues they may have regarding the job or their performance.

Open the Lines of Communication

Make sure you have an open door policy to answer employees’ questions, so they feel comfortable coming to you when they need something clarified.

Being a good leader involves being a good communicator. Most errors in the workplace are a direct result of improper communication between an employee and their boss. Make sure your employees have clear directions and feedback at all times.

When you take the time to communicate with your employees, errors and misunderstandings can easily be avoided.

Your Small Business – Get Organized NOW

One of the most common mistakes small business owners make is not organizing themselves properly. Organization is the key to running a business smoothly whether that business is small or large. Often when you own and operate your own business having time to be 100% organized can be difficult. That said there are a few things that you can do that will make your small business function more smoothly.

Organize E-mail

E-mail is an essential function in today’s modern business world. Whether you run an online business or you only have a web presence, organizing your e-mail can be extremely helpful.

First, separate your contacts by business and personal. You can also separate your business contacts by associates and customers.

Keep your e-mail box cleaned up. Delete junk e-mail and mark it as spam immediately upon receiving it. Have a dedicated spam folder that you routinely empty. Have folders for customers, associates and other contacts.

Separate your e-mails and distribute them to their correct folder upon receiving them.

Tidy Up

Keep your office or work area clean and organized. Utilize file folders, desk organizers and any shelving you have available.

At least once each week, tidy up your work space. Keep a trashcan and a paper shredder by your desk so you can discard things you do not need to keep.

Copy Cat

Make sure you keep backup copies of all your important information on disk or at a remote location. This will enable you to save your business should your computer crash.

Additionally, make sure you have all your important contact numbers on paper. This way if you lose your phone or your computer crashes you can still make important calls.

Getting organized isn’t rocket science – and it will help you be more productive in the long run!

Resources for Buying or Selling a Small Business

Whether you want to buy a small business or sell your existing one, it can be difficult to know where to start.

Before you start your search for a small business opportunity or make a plan to sell your small business, it is important that you know your options.

Regardless of whether you are buying or selling a small business, there are two fabulous resources you have at your disposal.

Business Brokers

Many people use a local business broker to buy or sell their small business. Generally, if you are selling a small business a business broker will only charge you if they sell your business.

It is important to consult with more than one small business broker to see what each has to offer you in the way of listing services.

Business brokers are also an excellent resource for individuals who are interested in buying a small business. Often, business brokers have a list of businesses that are for sale locally.

This allows you to get a look at what is available and what the price range for small business opportunities is. In addition, if you find something that interests you, they can help you during negotiations.

Online Advertisements

The Internet is an excellent resource for individuals looking to buy or sell a small business.

There are a number of online classified sites like BusinessMart.com, Craigslist.com and forums that allow small businesses to place for sale ads. This is a great place to start researching available opportunities when you are looking to buy.

Additionally, they are great places to spread the word when you are looking to sell.

If you need to sell your small business, there’s no need to despair. Use the two resources above, and your search could soon be over.

How to Succeed as a Small Business Owner

Owning your own business is much different from working for someone else in a 9 to 5.

Indeed, small business owners are a rare breed – and having the following traits will definitely help you to succeed.

Take Calculated Risks

As a small business owner, you will have to make decisions. No one is going to tell you what decisions to make and when.

Some decisions will undoubtedly work out better than others – that’s the nature of the beast. And sometimes, you’ll need to take a calculated risk in order to progress.

Although taking risks can be stressful, it can also be satisfying and enjoyable – especially if you trust your own judgement. Being a good problem solver can give you lots of self-confidence, something you need a lot of as an entrepreneur.

Have Enthusiasm

To run your own business, you also need lots of enthusiasm. You can’t be half-hearted about your new venture; if you are, then you will definitely have problems overcoming difficulties – financial or otherwise - when they arise.

When you’re enthusiastic about what you do, you inspire others – employees, vendors and customers – and it will probably be reflected in your bottom line.

Most people would rather do business with someone who is enthusiastic about their work and enjoys it. This goes double for clients.

Display Ambition

Most small business owners’ best asset is their ambition. This is a drive to achieve, financially and otherwise.

Having ambition isn’t a negative thing – it’s a good one. Ambition helps you to overcome obstacles and setbacks, which will happen when you have your own business.

Being a small business owner isn’t for everyone. But if you have what it takes, you can definitely be successful at it.

8 Easy Ways to Go Green in Your Small Business

With all the talk these days regarding the environment, many small business owners are looking for ways to make their business more green.

It seems that everywhere you turn, major corporations are making big changes so they can advertise their green business practices to their customers. Unfortunately, small businesses don’t always have the means to make radical changes.

However, there are many things that small business owners can do to make their operations more green.

Offering green features in your business can significantly improve your earning potential. The fact is, major companies like Amazon and Ebay are going green for a reason.

The consumer market - both on and offline - is showing an increasing tendency towards green shopping. Let’s look at a few ways you can make your small business more green.

1. Add green products or services to your current lineup.
2. Use recyclable business supplies in any area of your business that allows you to.
3. Make sure your customers are aware that you are environmentally conscientious by including a tagline on your email, letterhead and other marketing collateral.
4. Donate a portion of sales to an environmentally friendly charity or organization.
5. Allow customers to make donations when they make a purchase, so they are aware that you support that cause.
6. If you sell retail products, offer reusable shopping bags for a nominal fee - and stop using plastic bags.
7. Make sure your customers know that you are making an effort to provide them with a more green shopping experience.
8. Additionally, make sure that they are aware of your efforts to be a more environmentally sound business.

‘Going Green’ isn’t just a tagline anymore – it’s a responsible business.

3 Great Tips for Making a Small Business Emergency Plan

When you operate a small business you are often an essential cog in the daily operations. In fact, it is not uncommon for a small business owner to be their only employee.

Contrary to popular belief owning and operating a small business often leaves you less room for navigating personal emergencies.

Without sick days and co-workers, there is often no one else to keep things running smoothly in the event of a personal crisis.

Unfortunately, people get sick and crises can occur. Developing a backup plan should an emergency arise is one of the smartest things a small business owner can do.

If you have an emergency plan in place, your business won’t spiral out of control in the event of your absence. There are many things that you can do to emergency proof your small business.

Here are 3 solid ideas you can use to develop your emergency plan.

• Go wireless. Have contact numbers and important files readily available on some type of wireless device.
  
  A PDA or laptop can be invaluable in times of crisis.
• Have an employee or family member that you can train with basic information should someone need to take over vital business functions temporarily.
  
  This can also be a virtual secretary or assistant you use only as needed.
• Keep important information on disc so that you can access it in another location should you not have access to your computer or wireless device.
  
  Additionally, keep contact numbers in a planner or notebook just in case you can’t access your wireless device or PC.

Emergencies happen; following the tips above will ensure that one won’t cripple your business.

Tips for Keeping Non-Paying Customers at Bay

Overdue payments, non-paying customers… we hate to think of it, but it’s a fact of life for small business owners. What can we do to ease our woes? Well, as the old saying goes….the best defense is a good offense.

Here are four proactive steps to help you keep non-paying customers from affecting your bottom line.

Include Step-By-Step Collection Procedures In Your Business Plan

Decide ahead of time how you will handle overdue payments and non-paying customers.

Spell it out in your business plan, so you’ll have a specific step-by-step plan to follow when you need it.

Get Your Customer’s Promise To Pay In Writing

This may seem a bit elementary but, in fact, business owners quite often get taken by people they deem to be friends, or good customers. Always have your customers, regardless of who they are, sign an agreement to pay.

The agreement should spell out payment terms - due dates, late payment fees, and non-payment penalties.

Maintain Good Records

Now that you have the agreement in writing, keep it and all applicable paperwork, in a rotating date file that you check daily.

For instance, if the payment is due within 30 days and you performed the service on the first of the month, then on the 30th of the month, pull the agreement and send a friendly payment reminder to the customer.

Follow Through On Collection Efforts

Sometimes, just knowing that there are consequences for non-payment may be just the inspiration a customer needs to pay.

Running a small business is fraught with risks. By following the tips above, non-paying customers won’t be one of them.

Own a Small Business? How to Use Blogging to Your Advantage

Up until recently, “blogging” and “business” seemed to be a bit of an oxymoron.

However, thanks to some easy-to-use blogging software such as Blogger, Typepad, and Wordpress, business owners have begun to appreciate the power associated with having their own “press”.

What are Blogs?

For those of us, not-so-techno-savvy business owners, blog is short for web log. Essentially, it is a 100 to 250-word article written about… anything.

It’s a great way to establish an online presence - especially for those who don’t want the bother and expense of setting up and maintaining a website

Blogs are relatively easy to write. The writing is simple, straightforward, and compact.

Generally, blogs are filled with links to lead the reader to more detailed information. They serve as “teasers” of sorts. Though any overt attempt to “plug” your business directly will be considered Spam by most search engines, and you’ll be penalized.

Blogs as a Marketing Tool

Blogs are an inexpensive marketing tool you can use to communicate with prospective customers.

Business owners often blog about what they know most about… their business. Thus, establishing their expertise online.

The biggest expense to having a blog is the time it takes to write and update your blog on a regular basis.

Update your blog often, and people will start visiting your blog regularly. You can write about some new technology that you’re involved with, or a new product you’re introducing, or an award you may have received.

Ultimately, many search engines respond to the popularity of a link, thus increasing your ratings in the search engines.