Bringing a college intern into the office is a great decision for many small businesses. If you choose the interns wisely, it can benefit to both the college student and your small business.

Most colleges require that soon-to-be grads complete some type of internship as a requirement for graduation. Some internships are paid, and some are not.

It is completely up to you to decide whether or not to offer monetary compensation for the internship. Some small business owners offer an hourly rate, while others offer a lump sum amount to go toward the intern’s college expenses.

Why Internships?

For the college students, it’s a chance to work in the field for which they have spent the last few years studying. They get some real world experience as well as the college credits required to graduate.

But they aren’t the only winners in the arrangement.

For small business owners, taking part in an internship program allows you access to some fresh talent. Many students find their first jobs through their internships. It’s a good way for you to meet some of the people who will be looking for jobs upon graduation.

Lowering Your Expenses

It’s also a way to supplement your workforce without having to hire additional employees.

For example, if your busy graphic designer is always begging for an assistant designer, bringing in an intern or two could be a perfect low-cost solution.

Some companies take advantage of the program and use the interns only for running errands and making copies. If this is your plan, you need to make that clear to the potential intern before they start.

The point of the program is for the intern to get an idea about what working in their chosen field will be like - not to serve as coffee runners.

That isn’t to say you should put them in charge of a project, and it’s fine to have them do some administrative work. But, they should also be given the chance to work in their fields.

This will give them the experience they need, and it will give you a chance to observe their performance.

Many small business owners keep their own accounting books. Some are meticulous and well-suited to the task.

Others shove receipts in the drawer and scribble notes on scraps of paper about where the money is going. That can make things pretty tricky come tax time.

Some business owners put off hiring an accountant because of the expense, but since most are paid by the hour, hiring one doesn’t have to be prohibitively expensive.

There are many good reasons to hire an accountant. Here are three.

1. Payroll

There are so many payroll regulations that it can be tough to learn them all. Plus, they are always changing.

Deviating from federal regulations can result in hefty fines. By having an account handle payroll, you won’t have to worry about keeping current.

2. Tax Time

This is one of the best reasons to hire an accountant. Business tax regulations change each year and are difficult for many “lay people” to understand.

You need someone to guide you throughout the year about what will be best for your business come tax time. If you wait to hire someone just to do your taxes it will be too late to take advantage of some money saving tax strategies.

Instead, you need someone who knows your business and can guide you – starting on January 1 – about how to save money when tax time comes around.

3. Free Time

Hiring an accountant to handle your books will take one big burden off of your shoulders and will free up your time to run and grow your business.

Keep in mind that you should never hand your books over 100% to an accountant. You need to know every detail about what is going on at all times.

This will remove the possibility of someone skimming off the top or your small business being involved in any unsavory practices.

Hire a good accountant, but always know what is in those books. It is, after all, your business.

Some business owners don’t feel that a web presence is necessary in their particular field.

While this once was true, today’s consumers expect businesses to have a website where they can find information about products and services 24 hours a day.

Many small businesses lose out on revenue because a potential customer bypassed them in favor of a company with a simple website.

It doesn’t matter what type of business you have: many consumers are going to want to check out your website before giving you their business.

Build a Quality Site

Of course your website is a reflection of your business, so you don’t want it to look shabby and be full of grammatical mistakes. On the other hand, it needn’t be fancy.

As long as it provides some basic information, and includes an email address where potential customers can contact the business, it will do the job.

As you grow your business, you can also grow your presence on the web. Some businesses use their website as a marketing tool and a way to set themselves up as experts in their field.

Continually Add Good Content

One plumber, for example, hired a freelance writer to post new articles to his website each week. Over time, his website included a library of articles covering pretty much any plumbing related topic the average consumer may need.

By updating his website frequently, and including a lot of relevant information, he began to get more visitors to his site. This translated into more business.

Don’t make the mistake of underestimating the importance of a website. Doing so could really cost you!

Small business owners know that when you work for yourself you usually work harder than those who work for someone else. This point is often lost on the friends of such business owners - they sometimes think that working at home means you sit in your bathrobe and play video games all day.

Many work-at-home business owners complain that their friends don’t understand why they can’t drop everything and run out for a long lunch several times a week. Others say they are asked to pick up kids from school or wait for the cable guy.

While many small business owners do have a flexible schedule, they also work more hours on average than those who work for someone else.

Here are some tips for managing unreasonable requests on your time.

Work Phone vs. Home Phone

Have a work phone that is just for work, and don’t give the number to your friends. During your workday, do not answer your home phone.

Set Hours

Give yourself set hours, just like you had when you worked for someone else. When someone asks you for a favor, simply say, “I can’t. That is during my working hours.”

Eventually, they will stop asking.

Just Say No

For some who have never run a business, it’s difficult for them to understand the demands such a venture takes on you. The bottom line is that your small business is more important than your friend’s cable - and they would find a way for their kids to get picked up from school if you weren’t readily available.

The simple answer is that you’ve got to learn to say “no” to requests that take you away from the task at hand.

If someone has no consideration for your needs, then it’s safe to say you probably don’t owe them any favors. Your real friends will understand and want you to succeed.

Small business owners who find success do so because they are willing to work hard and do whatever it takes to make it. This type of work ethic is wonderful, but it’s also important to find balance in your life.

Working 18-hour days is sometimes just part of the deal when you’re struggling to get a new business off the ground.

But to keep up that kind of pace continually over any length of time is not a good idea as relationships with family and friends – as well as your health – can suffer.

Make a Schedule

Instead, try setting working hours and stick to them whenever possible. Of course, as a business owner there will be times – a lot of times in fact – when you’ll need to work outside of those set hours, but at least you’ll have some sort of guidelines.

Even on the days when you know you’ll be pulling an all-nighter, you still have to eat. Why not just step away from the grind and go home for dinner with the family or meet them at a restaurant for a quick bite.

Doing that will not only remind your family that you still love spending time with them, but it will also help you step away from the task at hand and return with a fresh set of eyes.

Take a Break

Not taking vacation is another mistake that many small business owners make. Naturally it is important to be 100% dedicated during the start-up process, but you can still try to get away, even if only for a weekend.

With the technology that is available today, you can keep in touch with the office from most any location in the world. If your type of business demands that you be present, then consider using the holidays as a time to close up shop and head out of town for a few days with your loved ones.

Be dedicated to the success of your small business - but work hard to be sure that you’re not consumed by it.

The Better Business Bureau was created in 1912. While some mistakenly think that it is a government agency, it is not. It is a private organization whose aim is to help consumers be treated fairly.

The Better Business Bureau is more than just a place consumers can call to check up on local businesses. It’s also an organization that small businesses can join in order to help build a strong reputation in their communities.

Membership With Benefits

Whether or not you join, consumers will be able to learn whether your small business has any complaints and whether or not the complaints were satisfactorily resolved.

Becoming a member allows you to enjoy some benefits such as marketing assistance, help with disputes and the right to display the Better Business Bureau logo.

There is an annual fee required to be a member, and the amount varies depending on your location.

More important than the fees, however, are the standards that must be upheld in order to be a Better Business Bureau member.

Getting Accepted

Not all small businesses that apply for membership are accepted. The bureau demands that its customer service policies are followed. Also, when you apply for membership, a background check will be conducted on your business.

If you operate your business with integrity and are properly licensed, you will likely be accepted for membership. That membership will help your customers and potential customers feel more at ease, especially when they are doing business with you for the first time.

The fact that your business is a member of the Better Business Bureau will give them one more reason to trust that they will be treated fairly. And trust is always good for business.

To some small business owners, the process of starting a website for their business seems like a mystery. The truth is that giving your company a web presence is easier and more affordable than ever before.

It’s important for every business to have a presence on the web. It makes it easier for customers and potential customers to find you, and it gives you a venue in which to show off your professionalism and highlight your business’ best features.

You don’t have to be computer savvy, and for just a few hundred dollars you can have a simple website up and running.

Domain Name

The first thing you’ll need to do is decide on a domain name. It should be reflective of your business and, as much as possible, be easy to remember. If your first choice of a name isn’t available you’ll have to select something else, so be flexible.

Once you find an available name, you’ll need to register that name. You can register the name for as little as one year.

It’s important to keep the registration current or someone else will be able to take the name.

Web Hosting

Next you’ll need to select a company that offers web hosting. Web hosting starts around $20.00 a month and goes up from there depending on the type of website and the number of visitors to the site.

The hosting also normally includes a set number of email boxes.

Web Design

Designing a website yourself is simpler than ever. There is software available that make it so simple that in a just a few hours you can design your own site.

If you don’t feel comfortable designing your own site, you can pay your web hosting company to do it for you.

You can also hire a web design firm, but that is typically going to be more expensive than going through your web hosting company. Whoever you use, be sure that YOU will own the site and that everything is registered in your name or your business name and NOT in the name of the designer or hosting company.

Take your small business to the next level by creating a web presence that will impress!

Many small businesses begin their operation out of a home office. Some businesses continue to thrive in that environment, while others need to move on to bigger and more appropriate office space.

How do you know when it is time to rent an office? There are a few questions you can ask yourself to help you make the decision.

• Are you able to concentrate fully on the job while at home, or are there too many distractions?
• Is your business “taking over” your home to the point that papers and other equipment are spilling out of the home office into the rest of the home?
• Are you and your employees tripping over each other?
• If clients must visit, does your home office situation present a professional image to them?

Based on the answers to the above questions, you can decide if it’s time to rent an office. If you can continue to work effectively out of your home office, you should do so.

The cost savings is obviously significant, and that is money that can be otherwise used to grow your business.

However, some business owners are unable to grow their business to its fullest potential while working from home. In such cases, it makes sense to take the plunge and rent a space.

Here are some costs that you will have to consider if you decide to rent an office.

• Rent and utilities
• Insurance
• Furniture
• Telephone lines and internet access

Weigh it all up, and if you decide that renting an office will help your bottom line, then start your search!

When small business owners begin to grow their businesses, some of the most important decisions they must make include hiring employees.

Whether it is the receptionist who will answer the phone or the salespeople who have the power to make or break your business, careful thought must be put into who you decide to bring on board.

Where to Start?

Many new business owners don’t even know where to begin their search for qualified people. The first thought for many is the local newspaper.

For many this is a good place to start, but there are some negatives to this approach. First, it can be expensive. At a time in your business when every dime counts, spending several hundred dollars on recruiting ads might not be feasible.

Also, local print ads limit your pool of candidates to those who live in your area.

An alternative is national online sources such as Monster or CareerBuilder. These services are not cheap, but you have a much larger base of potential hires. One way to find help that is becoming more and more popular is the use of Craig’s List.

You can post ads, or you can browse through resumes that have been posted by job seekers, and the services are free.

If you have several positions to fill you may consider taking part in a job fair at a local college. While there is typically some cost involved, this option allows you to have face time with potential candidates.

The Hiring Process

Once you have identified potential candidates, be sure to take the time to call their prior employers and/or references. Also, depending on the type of position, you may consider doing a background check.

It’s easy to be blown away by a resume, but sometimes what isn’t on the paper is more important. During the interview, keep the following questions in mind.

• Why did they leave their last job? How many jobs have they had in the last few years?
• Do they dress professionally?
• Are they personable and warm?
• Did they seem prepared for the interview?
• Does it seem they have it together, or do they seem scattered?

It’s much easier to hire the right people to begin with than it is to have to let someone go and then start the search all over again.

Even though it will take a bigger investment of your time - and perhaps money – upfront, it will be WELL worth it in the end.

One important decision that you will have to make regarding your business is whether to function as a sole proprietorship or as a limited liability corporation (LLC).

While there is some cost involved in setting up an LLC, doing so removes personal financial risk should any type of legal action be brought against your small business.

Limit Your Liability

When you operate as a sole proprietorship, the liability for the business is entwined with your personal finances. This means that any assets you have, including your home and personal savings accounts, can be attached should your business get into legal trouble.

Such a situation could devastate you financially.

If, however, your business operates as an LLC, your personal assets cannot be considered in the event of a lawsuit. For example, if your business were to be sued, only assets listed under the business would be considered in any resulting judgment.

Your personal accounts and other assets would not be taken into consideration.

Cost Considerations

The cost to set up an LLC varies. There are companies that do nothing but help small business form an LLC. These companies charge anywhere from $75-$350 for their services.

Another route is to enlist the help of a lawyer. While this will cost a bit more, you will have the peace of mind that everything was done correctly.

It is a wise decision to spend the money to form an LLC before you begin full operation of your small business. The small investment you make now will provide you with important protections should anything go wrong in the future.