Business Update – 12 January 2022

With the more contagious Omicron variant rapidly becoming the dominant strain, many experts are recommending upgrading from cloth to N95 masks. This article in Popular Science explains what to look for in a mask, how long they can be worn, how to safely reuse them, and when they should be discarded. Masks designated as KF94, N95, or in the FPP family are all subject to strict government oversight and quality…  Read more

Ideas for business goals this year

The start of the year is the perfect time to dust off last year’s business plan and set some new goals for the future. While some entrepreneurs love planning, others feel overwhelmed by the process. How do you decide on just a handful of goals that take priority, with so many moving parts that make up a business? These tips can help you get started brainstorming how your company can…  Read more

Weekly Digest – January 5 2022

The rapid spread of the Omicron variant is impacting businesses large and small by keeping more workers home or quarantined. Record levels of new infections in the US are forcing airlines to cancel flights, stores to close, and available workers to work longer hours or in different areas than normal. While new CDC guidance decreases the number of quarantine days from ten to five, the infectious nature of the new…  Read more

Workable New Year resolutions

New Year resolutions – we’ve all made them, and broken them − often before the end of January. There’s something about New Year celebrations that makes us yearn for a fresh start, but is there a way to make that desire for change more permanent? Here’s a twist that can make your resolutions more durable, more beneficial and less prone to that embarrassing quick fade. Align goals to your business…  Read more

Enjoying a stress-free holiday

As a business owner it’s important to take time away from work. But worrying about whether staff are meeting deadlines and suppliers are happy translates to more stress and less time enjoying your holiday. With a little staff communication and planning beforehand, you needn’t worry that your business won’t be able to cope in your absence. If you really can’t switch off from work mode or something urgent pops up,…  Read more

Business Update – December 22 2021

Even if you’re fully vaccinated and have your COVID-19 boosters up to date, there is a possibility you’ll still get a breakthrough case of COVID-19. Vox has a list of things you can do now to prepare. First, get a booster and a flu shot. Next, figure out how you can most easily get tested, including possibly purchasing an at-home test kit. Keep wearing your mask, and consider upgrading to…  Read more

3 Tips for Working Smarter and Gaining Personal Time

You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time. Too many business owners think they must keep working harder—taking on more responsibilities and working longer hours—to be successful. It makes sense, because you’re responsible for your business, but that route leads to work overload and…  Read more

Weekly Digest – December 15 2021

In our early days of understanding the possible impacts of the new Omicron variant, it can be difficult to parse fact from opinion. In The Atlantic, Derek Thompson looks at the studies and anecdotal evidence so far available to develop an early if imperfect evaluation of the risks. Omicron is more transmissible and will spread faster than Delta. Omicron will cause more breakthrough infections. On the positive side, Omicron will…  Read more

How Much Cash Does My Business Need?

Your business needs cash. Cash is what keeps your company in operation and enables it to grow, so you should know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. There is no single factor that determines how much cash every business needs to have on hand. Somewhere between 3-6 months of operating expenses is…  Read more

Weekly Digest – December 8 2021

What happens to the people who don’t quit during the “Great Resignation?” Those left behind are picking up additional responsibilities and putting in extra hours. Over time, managers begin to see the extra hours and work that everyone puts in as the norm, but this can also lead to burnout and the loss of knowledge from the workplace as people with specific skill sets are not replaced. While some people…  Read more

4 Tips for Encouraging Repeat Customers

There’s a lot of data supporting the idea that it’s less costly, easier and more efficient to encourage repeat customers than bring in new ones. Among the stats Hubspot lists are that a 5% increase in customer retention is responsible for more than 25% increase in profit; repeat customers are 9 times more likely to convert than first-time visitors; and a 2% increase in customer retention has a similar impact…  Read more

Business Update – December 1 2021

Over the weekend, several countries reported their first cases of the new Omicron variant of the COVID-19 virus. While little is known about the new variant, genetic sequencing indicates it has at least 30 mutations on the spike protein, which it uses to bind to human cells, so it could be even more easily spread than the Delta variant. In response to the uncertainty, Israel has banned all foreigners from…  Read more

Questions to Prepare for When Pitching to Investors

If you’re looking for people to invest in your business, be prepared to answer some important questions. Investors look for smart investment opportunities—that means they want to find out as much as they can about you and your business before they make a decision about whether or not to invest with you. It’s vital to have well thought-out answers to investors’ questions. Give them evidence you’ve thoroughly examined your business…  Read more

Business Update – November 24 2021

Just a few weeks ago, it appeared that the Delta variant was on the wane in the US. However, in pockets of the Midwest, Southwest, and Northeast, cases are climbing, just ahead of the holiday travel season. Minnesota is experiencing its highest average daily case counts since April, at 3,500 per day, overwhelming some hospitals. In response, Minnesota Governor Tim Walz has enlisted the National Guard to staff temporary sites…  Read more

Top 3 reasons start-ups fail and how to avoid them

The start of a business is an exciting time. You’ve got a great idea for a business and are enthusiastic to get started. It’s important to plan ahead to give your business the best chances for success. Planning ahead means anticipating challenges and developing ways to successfully address them, so they don’t upend your start-up. Here are three reasons why start-ups fail and ways you can avoid them Lack of…  Read more

Business Update – November 17 2021

Just a few weeks ago, it appeared that the Delta variant was on the wane in the US. However, in pockets of the Midwest, Southwest, and Northeast, cases are climbing, just ahead of the holiday travel season. Minnesota is experiencing its highest average daily case counts since April, at 3,500 per day, overwhelming some hospitals. In response, Minnesota Governor Tim Walz has enlisted the National Guard to staff temporary sites…  Read more

4 Reasons Your Business Should Consider Digital Receipts

Receipts are vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need receipts for their tax purposes and to manage their finances. Paper receipts have been around a long time, so many people are used to them and may even be resistant to moving away from them. Thanks to technology, paper receipts are becoming more a thing of the past. There are…  Read more

Business Update – November 10 2021

In a tight market for available workers, some companies are responding by loosening hiring requirements such as the need for a bachelor’s degree. The Body Shop, which piloted an open hiring program in 2019, no longer requires drug tests, background checks, or other education or work experience for jobs in its warehouses and retail locations. Likewise, UPS, in a quest to hire 100,000 seasonal workers for the holidays, eliminated any…  Read more

How to Hire the Right Bookkeeper for your Business

“Outsource your weaknesses.” So says start-up guru, Sujan Patel, when advising small business owners to get outside help for tasks like payroll and bookkeeping. And when you consider that 70% of businesses fail due to poor in-house financial management, Patel’s advice seems spot on. Unfortunately, many small business owners seek to keep costs low by doing everything themselves— unwittingly sabotaging the financial stability of their own company. If numbers aren’t…  Read more

Business Update – November 3 2021

As the pandemic continues, many people are having a harder time making small daily decisions such as what to wear or what to have for lunch. According to a recent survey by the Harris Poll, nearly a third of adults were still so stressed by the pandemic that small decisions were difficult. Millennials and parents with children under 18 are having the hardest time with decisions. The combination of safety…  Read more

Want to grow your business? Our Free Resources will Help