On January 1, 2016, the rules are changing for Washington LLCs. Washington’s new Limited Liability Company Act takes effect on January 1, 2016, bringing with it a number of changes that affect current and future managers and members of Washington LLCs, as well as anyone doing business with Washington LLCs. Below are eight changes that […]
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New Overtime Rules Proposed: What You Need to Know Now
The Department of Labor (DOL) issued proposed changes to the overtime exemptions under the Fair Labor Standards Act (FLSA). The proposal would make substantial increases to the minimum salary requirement for white collar exemptions. Background: The FLSA requires covered employers to pay “non-exempt” employees at least the minimum wage for each hour worked as well […]
Reach Out to Your Target Markets
Who is Your Target Market? Who has a need for your business? Who has expressed interest or bought from you in the past? And where do these people hang out? Understanding who your market is and where to find them will save you valuable time and money. Narrow your market by age, gender, ethnicity, industry, […]
Small Businesses Threatened With $36,500 IRS Fines For Helping Employees With Health Costs
Forbes just published the attached article which highlights information about some very serious penalties that could affect businesses of all sizes. This particular rule appears nowhere in the Affordable Care Act, but was developed by the Obama administration’s regulation writers at the IRS. Small businesses that reimburse employees for the cost of premiums for individual […]
Accepting Uncertainty in Business
Part of the Business Most business owners second guess themselves, especially when business slows down or unforeseen events occur. Instead of stressing over it, you have to keep moving forward. Find new ways to retain customers/clients, expand to meet increasing demands, and get additional training if you’re lacking in any areas. Only after you do […]
Going Above and Beyond: Good for Business or Waste of Time?
Overpromising Does this scenario sound familiar? To impress a new client, you promise to fulfill an order or provide a service in less time than it would normally take you. While this may make you look like a real go-getter, now you’re stuck running around scrambling to get things done. This will affect the overall […]
Landing New Clients (Less About You, More About Them)
Understanding Client Needs When meeting a new client for the first (or second) time, it’s important to first get a sense of what the client wants. Start the conversation by asking why the client contacted you specifically. This allows them to explain what they’re looking for. Ask additional questions as the conversation progresses to learn […]
Risky Business
Risk Taking: A Double-Edged Sword To grow your business you must take on a certain amount of risk. Unfortunately, those same risks could cause you to lose everything. Luckily, some risks are less risky than others. Refer to your business plan to see how new business ideas fit. Will these new ideas really help your […]
Do You Lack Inspiration?
Look to the Past What first inspired you to start a business? Consider these reasons when planning for the future. Are there unexplored areas you meant to cover but haven’t yet? Expanding or building on current business services may be just the thing to inspire you. In many cases, business owners become bored or dissatisfied […]