small-bizXpress

A recent analysis by the Herman Group is taking an insight look at certain opportunities, small businesses may see in the near future.

Given all the anxiety out there about outsourcing, offshoring, and employment instability the idea of working for a large company may not have the lure it once did. And that's good news for small-business owners who may now have access to the sort of management talent that was unavailable in the past.

[small] companies will be able to employ high-caliber talent that was not as available in the past. Expect smaller employers to retain search firms and other outside consultants to help select and manage strong new employees coming out of an eager talent pool., study says.

Tags: small business, employ, outsourcing, management talent, small employers

1. Keep clean financials. At this late stage, it’s all about being organized and responsive. For instance, make sure your financial statements balance. If your CPA doesn’t know that you hired a salesperson in Texas last year, you can’t expect him to file the necessary out-of-state tax returns. When your accountant asks for additional documents, such as a list of out-of-state employees, send them immediately.

2. Plan ahead for next year Now is the time to make tax-wise decisions for 2006. If you’re not sure where to start, set an appointment to talk to your CPA about tax strategies. Review your quarterly estimated tax requirements early to avoid penalties. Throughout the year, talk to your CPA before you buy or sell an asset or undertake other major transactions, so that you know how best to proceed from a tax standpoint.

3. Document carefully. Watch your record keeping, even when you’re on the road. If you use the same vehicle for business and personal travel, pay close attention to your mileage.

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Tags: cpa, accountant, small business, clean financials, plan, document

Author Bruce Judson has taken his book on starting your own business, Go It Alone! : THE SECRET TO BUILDING A SUCCESSFUL BUSINESS ON YOUR OWN to the WWW for free.

A fundamentally new class of entrepreneur is emerging: the go-it-alone entrepreneur. Businesses run by these entrepreneurs are characterized by three defining criteria:

• The business is started with a minimal investment, and the founder or founders retain full ownership and control of the enterprise.


• The business is run entirely by a small number of people, generally from one to six.


• The founder does not set out to create a small business. He or she is working from the premise that the business has unlimited revenue potential.

To the founder or founders, a go-it-alone enterprise is small only in the numbers of workers it employs. It’s designed to generate substantial financial returns and to play a sizable role in the business world.

The implications of these defining criteria are significant. When a business starts with a minimal investment, the enterprise must focus on generating cash from the outset. This, in turn, suggests that the business is able to swiftly develop a paying customer base. Unlike many start-ups, go-it-alone businesses don’t have a gestation period where dedicated, full-time

Tags: entrepreneurship, business, franchise, entrepreneur, free ebook

Start slow, if possible: It sometimes takes a while to get a feel for the person you will be negotiating with, and if time permits, it is generally a good idea to get your feet wet before jumping in.

Come in over-prepared: The more you know about the other side and the facts, the better equipped you are to get what you want.

He who offers first, loses: Typically, when you make the first offer, you are setting an upper limit on what you can get. For instance, if you want a raise and tell your boss that you want $5,000 more a year, you will never find out that her budget would have allowed you to get $7,500 more. So try and not make the first offer.

Have some good tactics ready:

• •Silence: When offered a number you do not like, instead of responding, instead say nothing. .. continue to say nothing. .. if the other side talks first, it will likely be to raise the offer and break the uncomfortable silence.


• •Flinch: An "involuntary" flinch is likewise used to make the offeror uncomfortable with the offer. Any sort of similar "shocked" response may work in the right circumstances.


• •Good cop/bad cop: The good cop earns the other side's trust by being reasonable talking about what a jerk the bad cop is. He can then make offers or offer rejections that the bad cop cannot.

Remember it is a negotiation: Their job is to get what they want. . Do not take it personally. But always keep in mind your bottom line and do not negotiate below that number/offer.

Be willing to walk: The willingness to walk away from the deal or table is the key to a strong negotiating position. This is the real leverage in any negotiation.

Via.

Tags: negociation tips, negociate, tactics

Via SmallBusiness CEO here are some findings of the research study, "Does Business Ethics Pay?" by The Institute of Business Ethics (IBE):

1. Be Trustful: Recognize customers want to do business with a company they can trust; when trust is at the core of a company, it's easy to recognize. Trust defined, is assured reliance on the character, ability, strength, and truth of a business.

2. Keep An Open Mind: For continuous improvement of a company, the leader of an organization must be open to new ideas. Ask for opinions and feedback from both customers and team members and your company will continue to grow.

3. Meet Obligations: Regardless of the circumstances, do everything in your power to gain the trust of past customer's and clients, particularly if something has gone awry. Reclaim any lost business by honoring all commitments and obligations.

4. Have Clear Documents: Re-evaluate all print materials including small business advertising, brochures, and other business documents making sure they are clear, precise and professional. Most important, make sure they do not misrepresent or misinterpret.

5. Become Community Involved: Remain involved in community-related issues and activities, thereby demonstrating that your business is a responsible community contributor. In other words, stay involved.

6. Maintain Accounting Control: Take a hands-on approach to accounting and record keeping, not only as a means of gaining a better feel for the progress of your company, but as a resource for any "questionable " activities. Gaining control of accounting and record keeping allows you to end any dubious activities promptly.

7. Be Respectful: Treat others with the utmost of respect. Regardless of differences, positions, titles, ages, or other types of distinctions, always treat others with professional respect and courtesy.

Tags: business ethics, research study, small business

Here are 10 steps to grow your homebased business into the personal and professional success it was meant to be:

1. Focus on a single product or service, and then market it, sell it, promote it—do everything you can to increase sales of that one product or service.
2. Expand your product line to offer complementary products or services.
3. Find ways to increase sales to your existing customers.
4. Hire someone to help you out—an employee, a freelancer, an intern, an independent contractor, even your kids.
5. Create a Web site to advertise your company or sell products online.
6. Join forces with another business to promote your company.
7. Target other markets.
8. Find new and different ways to market your business through e-mail newsletters or by doing guest-speaking gigs or by teaching a class.
9. Expand to another location.
10. Think about turning your business into a franchise or business opportunity.

Read detailed article.

Tags: home business, homebased business, business grow, small business