Archive - November 2015

Top 5 Home Business Tax Deductions
Top 5 Best At-Home Businesses
5 Ways To Accelerate Word of Mouth Marketing
Factoring. What Is It? And, Is It Right For My Business?
Top 3 Reasons Why Businesses Fail

Top 5 Home Business Tax Deductions

No One Likes Filing Their Taxes. But, If You Have a Home-Based Business, Considering the Following Tax Deductions Can Make the Process Less Stressful.

home business tax deductions

You know what they say about death and taxes…

Like it or not, there is no avoiding either. Filing your taxes as a home-based business owner can be arduous. Multiple forms, complicated “tax speak” and conflicting information can make the process pretty complicated and stressful.

The good news is that some of the complications can be worth it in the form of tax deductions. Many home-business tax deductions are available for small business owners. Be sure to consult with a tax professional when filing, but don’t forget to look at these five tax deductions for home-based businesses.

1. Home office

The home office tax deduction is notorious for its stringent rules, but it can lead to big rewards for eligible small business owners. To qualify for the deduction, you must have a workspace in your home that is used exclusively for your business, which means that only around one-third of small business owners are eligible (according to IRS data). If you occasionally use your “home office” space for personal projects or if it doubles as a …

Read More

Top 5 Best At-Home Businesses

Tapping a Unique, In-Demand Talent Can Create a Great Opportunity to Work From Home. Learn the Best At-Home Businesses Below.

 best at-home businesses

Starting at-home businesses has become a great option for aspiring entrepreneurs. It not only gives you the freedom of owning and operating your own business, but you also avoid many of the expensive start-up costs by not commuting or renting office space. In fact, a survey by the U.S. Small Business Association found that 52 percent of companies are at-home businesses. Many large corporations, such as Gerber and Mrs. Fields, started in the owners’ homes. There are lots of endeavors that can originate from home, but here are five of the best at-home businesses.

1.  App and Web Design

According to the U.S. Department of Labor, the software industry is expected to increase its employees by 15 percent through 2022. People with technical acumen and software development skills are in constant demand. With companies shifting to a mobile focus, there is a ton of demand to create apps and responsive (mobile-optimized) websites. Developing apps and websites doesn’t require much overhead and it can be done from anywhere. Talented software developers can charge $90 or more per hour.

2. Contracting

There’s …

Read More

5 Ways To Accelerate Word of Mouth Marketing

Most Successful Small Businesses Thrive on Word of Mouth Marketing. Here Are Ways to Accelerate This.

word of mouth marketing

You have a thought-out business plan, a great product or service and early employees. There’s only one thing missing: more customers. Many small businesses struggle to find their target market, especially when competing with much larger businesses. However, there are a myriad of ways to market your business without spending a lot of money. The most successful small businesses rely on word of mouth marketing. In fact, a 2014 survey by Verizon and Small Business Trends found that 85 percent of small business owners said customers learned about their company through word of mouth—placing it well above any other kind of marketing.

So how do you take advantage of word of mouth to grow your customer base? Here are five ways to accelerate word of mouth and get customers flocking to your business.

1. Provide great service.

It seems simple that people are more likely to recommend a business to family and friends if it provides a great product or service, so give your customers something to talk about. Set your business apart from the competition–be it great quality, superior speed and convenience, or …

Read More

Factoring. What Is It? And, Is It Right For My Business?

Factoring Is a Unique Form of Financing for a Business With Revenue. Learn What Factoring Is and If It’s Right for Your Business.

small business owner

Everything comes with a price…

All businesses need financing to survive. The purest way of financing a business is through revenue. After all, generating revenue and profits is why you are in business in the first place, right? There are myriad other potential financing options for growing businesses. But, this post is focusing on one option that may not be so obvious to a small business owner: Factoring.

Definition of Factoring

Factoring is executed when a financial institution advances cash at a discount against specific accounts receivable from a business. This can benefit the business as it receives the cash sooner than waiting for those accounts receivable to be paid by their customers. However, like any financing instrument, there are interest rates and fees involved in factoring which I will get into here.

Terms of a factoring relationship can vary, but the relationship typically works as follows…

A business enters into a factoring relationship with a financial institution. Like any loan, this requires the financial institution to approve this business. The documents can be very detailed. Once …

Read More

Top 3 Reasons Why Businesses Fail

Small Business Failure Rate Is Over 80% After 5 Years. The Three Pitfalls Outlined Below Are the Most Common Reasons. Find out What They Are and What You Can Do to Avoid Them.

small business failure rate

There are potholes on your entrepreneurial road.  Work hard to avoid the ones outlined below…

There are many reasons why a business can fail. They can range from poor product/market fit to a lack of effective leadership. However, there are monumental mistakes that entrepreneurs make that can lead to a business failing. Our partner, Grow Think has created a list of the 10 Biggest Mistakes That Entrepreneurs Make And How To Avoid Them. Let’s explore the top three…

1. Failure to Create, Use and Update a Successful Business Plan

You’ve heard the expression: fail to plan… plan to fail. Successful entrepreneurs transform their ideas into business and action plans. The creation of a solid business plan (with corresponding financial projections) creates the blueprint for the business to follow to success. More specifically, updating the business plan for changing market conditions is just as important. An effective, thoughtful business plan acts as a navigational vehicle for the company’s leadership to achieve its well thought out objectives. Without …

Read More

Return to top of page Copyright © 2016 All Rights Reserved. | Privacy | Terms and Conditions