AboutOurWork: eHarmony for Small Businesses |  |
- AboutOurWork: eHarmony for Small Businesses
- A Small Business Owner Should Incorporate Their Business
- 13 Marketing Musts For 2013
- Balancing Economic Control and Entrepreneurship
- Proposed U.S. Tax Increase Will Hurt Some Small Businesses
| AboutOurWork: eHarmony for Small Businesses Posted: 10 Dec 2012 01:00 PM PST Social media has become a pretty essential part of promoting and making connections for many types of businesses. But one key group is often left out when it comes to the main social networks – companies looking to make business-to-business connections. That's why the team at AboutOurWork.com just launched its new MatchUp service, which aims to help entrepreneurs and small companies easily connect with others in their industry who could help further their business interests. For example, a wedding planner could use MatchUp to make connections with wedding photographers, caterers, and other professionals in the wedding industry. Co-founder David Hunegnaw said:
Users of the site need to first create a profile on AboutOurWork, and then they can use the MatchUp recommendation engine by adding tags with pertinent information about their company, such as "wedding," "planner," and their city or state. Then the engine suggests other users they might want to connect with. Hunegnaw said that when he and partner, Brooke Paul, first presented the idea to the Columbus Chamber of Commerce, they dubbed it the "eHarmony for small businesses." In addition to the recommendation engine, AboutOurWork also offers company profile pages that are not only optimized for search engines and mobile devices, but can also be used as a primary company website. When a company directs its custom url to its profile, AboutOurWork automatically removes all of its branding from the page so that it looks like a custom and professional website. Creating an AboutOurWork profile is free, but there is a small fee for using a custom domain. The photo above shows an example of a custom website on AboutOurWork, and on the right it shows a group of company profiles that other users can browse or search to find connections. AboutOurWork launched in the spring of this year, and MatchUp just launched earlier this month. The company has a team of 5 is based in Columbus, Ohio. The post AboutOurWork: eHarmony for Small Businesses appeared first on Small Business Trends.      |
| A Small Business Owner Should Incorporate Their Business Posted: 10 Dec 2012 11:00 AM PST Your small business is on a roll. You've got a healthy pipeline of customers. Everything is going smoothly – and you're focused like a laser on your products, business model, marketing plan, and balance sheets. But what about your business structure? Do you think you don’t need to incorporate a business? Many small businesses, particularly solo workers, overlook forming a legal business structure. The common thinking is that forming an Inc. or LLC can make life more complex for the small business, and the benefits don't always pay off. However, there are several reasons why a small business owner, even a solo contractor, should consider incorporating or forming an LLC. Here are some of the top reasons to think "Inc:" Liability: Separate Your Personal and Business Assets If your business does not have an official business structure, this means there's no separation between your business and you. If you're sued as a sole proprietor, you're sued personally, putting all your personal assets at risk. The LLC or Corporation (C Corporation or S Corporation) shield the business owner's personal assets from the liability of the company. This means that once your business is incorporated (whether you form an LLC or Corporation), it now exists as its own business entity. As a result, the corporation or LLC is responsible for any of its debts and liabilities. This is often called the "corporate shield" as it protects the owner's personal assets from the business. I know that for most entrepreneurs, liability is farthest from your mind, unless of course, you're a doctor or sky-diving operator. But, it's hard to imagine that sitting behind a computer in your home office can put you at any real risk of a lawsuit. However, things can happen. For example, if you're a marketing contractor, an unreasonable client could sue you for breach of contract. If you make homemade soaps, a vendor may falsely label their products, causing you to unknowingly put the wrong ingredients in your 'allergy free' soap. Or a major client doesn't pay you, making it hard for you to pay any of your own business contracts. Certainly, those are all worst-case scenarios and there's a slim chance you'll ever run into legal problems. However, incorporating or forming an LLC can protect your personal assets from the worst-case scenario. Tax Benefits While liability protection is the main benefit for incorporating or forming an LLC, in some cases, corporate tax rates are lower than individual tax rates. And corporations and LLCs often qualify for additional tax benefits and deductions that aren't available to individuals. Of course, specific circumstances vary, and you should consult with a CPA or tax advisor about your own particular tax situation. Increased Credibility You may find your sales grow after forming an LLC or incorporating, as adding an LLC or Inc. after your company name boosts your credibility in the eyes of some customers. In some industries, a formal business structure is required to win certain contracts. And when a contractor or freelancer has a formal business structure, a company that hires them will have the peace of mind that they are hiring an actual contractor and won't have any trouble with the IRS for hiring a "full-time employee" as a contractor. Better Access to Business Credit/Capital Forming a corporation or LLC is the first step toward building your business credit. As a sole proprietor, you can only get a personal loan. And forming a C Corporation will be essential if you plan to seek Venture Capital funding. Added Layer of Privacy When you incorporate or form an LLC, there’s an added layer of privacy. In many cases, the registered agent of your corporation goes on record, and not your home or business address. These benefits are all very important, even for the small, family-owned business. Having an Inc. or LLC after your company name isn't just for large businesses with mazes of cubicles and a big payroll. Incorporating or forming an LLC can be one of the smartest steps you take for your business. Best of all, it's far less time-consuming (and expensive) than it might seem. Inc. Photo via Shutterstock The post A Small Business Owner Should Incorporate Their Business appeared first on Small Business Trends.     |
| Posted: 10 Dec 2012 08:00 AM PST The ever changing and evolving marketing best practices continues to show us that the right mix and blend of traditional and new media is the best approach to branding you and your business. Almost half of consumers welcome social media marketing messages from brands they follow, according to a newly-released survey conducted by Vanson Bourne on behalf of Pitney Bowes Software. The study, “Social Media: Contrasting the Marketing and Consumer Perspectives,” surveyed 300 B2C senior marketing decision-makers globally as well as 3,000 adult consumers. Marketing Charts reports that social media has not replaced more classic methods of brand interaction, yet:
Thirty six percent of consumers report being interested in messages about upcoming sales, just 9% of marketers say they create such messages and 36% of consumers are interested in hearing about new products or services, while only about 19% of marketers have created such messages. There is clear evidence that we are still watching TV, reading magazines and newspapers (more online) and listening to the radio. Add to that, the parallel world of content marketing with blogs, podcasts, e-marketing, mobile, text and social media platforms and we can and do get overwhelmed with all the choices. Here’s what’s most important to figure out:
Marketing yourself and your business is the most important aspect of your business plan and can greatly impact your success or failure. More focus on your brand authenticity, engagement and transparency is, however, more important to consumers and will continue to be. Prove you’re honest, earn trust and you will be rewarded. As we all try to cut through the clutter, choices and options, here are 13 marketing musts for 2013: 1. A clean, current, engaging, easy to navigate website. 2. A WordPress Blog where you can share your expertise and the expertise of others you admire. 3. A Fully developed professional, active Linked In Profile, with recommendations. 4. A Facebook page that you use strategically, respectfully and carefully. 5. Smart use of Twitter for branding yourself and others. 6. Podcasting and listening are hot. Feature quality content from yourself and others. 7. An e-marketing campaign to regularly engage with your permission based A list. 8. A local chamber membership or professional organization to engage in your community. 9. Going to key conferences to meet key people, in person, in your industry. 10. Seminars and workshops to enhance your professional advancement and knowledge. 11. Brand makeover to keep yourself fresh and relevant. 12. Choose smart, strategic partnerships and alliances to add more value and reach. 13. Give back, pay forward, help others, pro bono. If you want to be taken seriously, then you have to act serious about adapting and adopting the new best practices. Get some help, hire a consultant, take a class, invest in your own professional education. This is not an expense, it is an investment in yourself and your business. Check out Forbes, TrendWatching and MarketingCharts to find great ideas and resources. Are you ready to “make a serious stand with your brand” in 2013? Must Have Photo via Shutterstock The post 13 Marketing Musts For 2013 appeared first on Small Business Trends.     |
| Balancing Economic Control and Entrepreneurship Posted: 10 Dec 2012 05:00 AM PST The London-based Think Tank Legatum Institute recently offered empirical evidence of what many Americans have been thinking lately. Our national well-being is slipping. Over the past four years, prosperity has increased around the globe, while it has remained stagnant in the United States, the Legatum Institute reports. As a result, the Institute ranked the United States 12th out of 142 countries on its 2012 Prosperity Index, putting the country outside the top ten for the first time. Returning us to prosperity is central to the agenda of our newly elected and reelected leaders. But doing so requires an understanding of the causes behind our stagnant wellbeing. The Legatum Institute finds that a decline in entrepreneurship and economic opportunity, rather than slippage in education, health, safety or personal freedom, is to blame. In particular, the authors say that the fall in prosperity:
Quite a change from traditional American attitudes. So what's driving the shift? Here's one hypothesis: In recent years, policy makers have sought to curb rent seeking – what economists call efforts to make money by shifting wealth away from others, rather than by increasing productivity. Think of private equity moguls taking advantage of lower tax rates on carried interest to make their fortune instead of technologists inventing new ways to search for information on the Internet. Those efforts have, unfortunately, adversely affected interest in entrepreneurship. By this I mean, working hard in pursuit of economic opportunities. Like many efforts to influence economic behavior, efforts to curb rent seeking involve regulation. Regulation, even when well-intentioned and directed to a particular purpose, limits the free operation of markets. Tilting the balance away from free markets, in turn, influences people's attitudes toward entrepreneurship. Therefore, our efforts to control rent seeking, the argument goes, have dampened interest in the entrepreneurship we need to be prosperous. While rent seeking remains a relatively small part of what people with entrepreneurial inclinations do to make money in the United States compared to many nations of the world, and government regulation to control rent seeking remains relatively light as compared to other places, a negative trend is emerging. Since the start of financial crisis and Great Recession, the typical American's attitude has shifted, ever so subtly, away from a belief that free markets and entrepreneurship are central to economic prosperity. As they put behind them a fractious presidential election in which the question of whether more regulation or freer markets was best way to revive American prosperity was prominent, the President and his advisors need to be cautious. They won because the American people favored more economic control rather than freer markets, but by the slimmest of margins; and the electorate remains highly polarized on the issue. When putting more economic controls in place, the President and his team will need to try hard to minimize inadvertently creating barriers to entrepreneurship and innovation. I hope they can achieve this balance and return our nation to prosperity, but I fear that doing so proves difficult in a highly polarized political environment. The likely result is more control over economic activity, but at the cost of some of the entrepreneurship necessary for future prosperity. Balance Photo via Shutterstock The post Balancing Economic Control and Entrepreneurship appeared first on Small Business Trends.     |
| Proposed U.S. Tax Increase Will Hurt Some Small Businesses Posted: 10 Dec 2012 02:30 AM PST A proposed U.S. tax increase for individuals making over $200,000 will definitely hurt some small businesses, taking away extra cash that might otherwise be used for growth, despite attempts by supporters of the increase to downplay that impact. With financial uncertainty facing many in 2013, businesses of all sizes must find ways to cut costs and do more with less. Here are some concerns facing businesses in the U.S. and abroad, and some suggestions to prepare for financial challenges. Tax TimeHow much is too much? A bipartisan Joint Committee on Taxation found only three percent of the 3o million Americans who report business income on their personal returns will be taxed at the top marginal rate. But that could include almost 940,000 business owners who might otherwise have reinvested in their businesses, the same study says. ABC News Another look at the impact. A release from a national organization representing small businesses gives another view of the impact the proposed tax increase may have upon small businesses. The report says 72 percent of all S corporation income, 61 percent of all partnership income, and 13 percent of all sole proprietorship income will be affected. National Federation of Independent Businesses Other IssuesBorrowing trouble with loan expenses. In the U.K., small businesses face another challenge. While interest rates on loans under £1 million increased over the past quarter, interest rates for loans over £2 million fell over the same period, meaning costs for small business borrowing are going up while costs for big business borrowing have decreased, writes Kasey Cassells. bOnline Blog Getting more mileage from expenses. Back here in the U.S., small businesses will catch an ever-so-slight break in standard mileage rates for travel expenses in 2013. Business owners will be able to deduct 56.5 cents per mile on business expenses in 2013 versus 55.5 cents per mile in 2012. (Hey, it adds up!) The new rate goes into effect January 1. Small Business Trends Cut Those CostsLow to no overhead. One solution for cutting costs in your business, no matter where you operate it, is to get rid of your brick and mortar location completely. Here Adam Gottlieb explains some of the things you may want to consider when creating a virtual business for yourself. Many services already exist to help you cut costs and leave a physical office behind. The Frugal Entrepreneur Shape up to ship out. Another great place to shave off expenses for your business is in the area of shipping costs. As it turns out, you don’t need to look too far when seeking these savings. In a guest post on Ashley Neal’s blog, Kelli Cooper shares four simple ways to save on your expenses today. Small Biz Diamonds Hit those sales objectives. Cutting spending isn’t the only way to combat rising costs in your business. Finding simple, inexpensive ways to boost your sales is another. And nothing could be simpler than reevaluating your marketing plan to see that it meets your sales and marketing objectives. Susan Oakes gives some tips on a marketing plan review that will make you the money your business needs. M4B Marketing The post Proposed U.S. Tax Increase Will Hurt Some Small Businesses appeared first on Small Business Trends.     |
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