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Own Your Own Home Business? Save Money with a Virtual Office

Thinking about starting your own home business? Current economic times have found that many people who have found themselves to be in the unfortunate position of losing their job have decided to try their hand at starting their very own home-based business. Or maybe you already own your own business and are currently looking for ways to save money. Great! Again, the tough economic times that we’ve found ourselves in recently have made it necessary to pay very close attention to the best ways to save money.
 

Business Expenses

Whether you’re looking to start your very own home-based business or are a current business owner, the need to look for ways to cut costs in order to save money is a constant. There are so many expenses to keep track of, making it essential to do everything in your power to keep these expenses to a minimum. The following is a short list that includes some of the items that are deemed necessary when starting a new business, as well as some of the ongoing costs that are required – office furniture, decorating, starting inventory, telephone/utility expenses, business-related fees, advertising, payroll, and insurance.

The business budget is something that needs constant attention due to the fact that business costs often fluctuate. Keeping up with these costs can be quite the chore, so if you find yourself to be in the position of constantly looking for ways to save money, it may be a great idea to look into other viable options.
 

A Virtual Office Can Save You Money!

Imagine how much easier it would be if you were able to find a way to save money, as well as time! When you decide to use a virtual office, you are able to save money due to the fact that you will be saving on all the overhead costs associated with managing an office workspace. When you use a virtual office, you are also able to save on time as all the essential office-related services, such as answering phone calls, package handling, mail forwarding, and more, are all taken care of for you!

Global Business Centers is the leader when it comes to offering a one-stop office solution. By using the large variety of virtual office services that Global Business Centers can provide, you are able to save up to 90% off your overhead costs. This amount of savings is quite impressive, and allows you the ability to place your savings into other critical areas of your business so that it can be all that you imagine it to be.

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Top Ten Most Profitable Start-up Businesses

Thinking about starting a business? A bit unsure where to best invest your personal capital? Wondering which types of businesses offer the best potential for profit? Certainly all fair questions, and ones that should be carefully considered in a down economy and uncertain regulatory environment such as ours. According to Rosemary Peavler, small business consultant and Professor Emeritus in Business/Finance at Morehead State University, there were ten industries in 2012 that consistently combined low start-up costs, increased demand and high pretax profit potential without the need for a specialized degree, ultimately making them more attractive to budding entrepreneurs. In alphabetical order, they are…
 

Bakery

These flourish best in small towns, rural areas and suburban upper middle class neighborhoods where families can afford to buy sweets from a specialty shop, and often do so to celebrate holidays and local events. While at least one skilled baker must be hired, such shops don’t require a ton of retail space; plus, the price of raw ingredients, equipment and materials are fairly minimal. Entrepreneurs can even get creative by adding a twist, like starting an all-chocolate shop or a mobile bakery truck.
 

Consignment Business

Frugal buyers searching for a deal will often target such shops for low-cost, well-maintained clothes, toys, furniture and jewelry. In fact, dour economies are especially prosperous for the consignment industry simply because that’s when folks are most intent on saving money. Operating out of your garage or online keeps overhead costs low. And specializing in a specific area such as silver, pet toys, maternity clothes or rocking chairs can help hone your market.
 

E-Commerce Website

This seems to cover all manner of sins in the digital age, allowing new business owners to leverage their unique skills through an inexpensive, readily accessible online platform with millions of potential clients worldwide. Internet commerce can be achieved by offering any product or service that consumers demand, and with lower capital risk than most brick-and-mortar shops. Start a consultancy. Sell used electronics. Offer transcription services. The sky’s the limit.
 

Elderly Care Services

In 2011, the oldest baby boomers reached 65 years old, representing 13% of the total U.S. population. As the number of retirees increased, so did the need for outpatient services, which can range from therapeutic day spas to family planning centers to rehabilitation clinics. While start-up costs may be higher than other businesses mentioned here, such service providers ranked number 6 on the Forbes “10 Most Profitable Businesses” list of 2008, with a pretax profit margin of almost 17%.
 

Handyman Services

Homes, apartments, offices, stores – they all have plumbing, wiring, mechanical and general maintenance requirements. So such services are relevant regardless of the area you’re in. And marketing costs are low since most business is derived primarily through referrals and word of mouth. Even if you don’t personally possess the jack-of-all-trades skill set needed to be successful, try staffing several handymen under your company umbrella and assigning them jobs that come in.
 

Music Teacher

Do you play a musical instrument? Guitar? Piano? French horn? Ever wonder how you could leverage that skill to make a buck? Why not pass on your knowledge to the next generation of eager learners. You can maintain a flexible schedule and charge by the hour to parents who want to supplement their child’s school curriculum with private lessons. Start-up costs are limited to your instrument of choice, and you can work out of your own place or make house calls.
 

Pet Shop

Animal lovers can take their fondness of man’s four-legged friends right to the bank by starting a pet-centered business, capitalizing on what a 2011 American Pet Production Association survey called a $50 billion industry. This doesn’t necessarily entail selling animals either. Your company might range from in-home grooming and pet-sitting services to luxury cat hotels to the distribution of pet food and supplies. All of these tap into the vast pet market.
 

Software App Developer

They say necessity is the mother of invention. So maybe you’ve thought up some ideas for mobile apps that haven’t been invented yet, but would make our lives a little easier. Why not create them yourself? Most app developers are self-trained, although the few who don’t have the patience can learn through cheap online courses or simply hire programmers to do the heavy lifting. Either start your own firm or work as a freelancer in a field that’s very in demand right now.
 

Staffing Agency

Sluggish economies often mean businesses stop hiring full time employees as a way to stave off undue cost burdens like high wages, health insurance and vacation pay. Capitalizing on this need by offering up semi-skilled temps and part-timers for a fee is a low risk scenario that allows you to work from your home while using brochures, direct mailing and social networking to generate clients. And high unemployment means finding willing workers will be easier than usual.
 

Tutoring Services

Qualified tutors for kids K-12 have been a hot commodity in recent years. Basic requirements include a high school diploma (although a college degree’s optimal) and a transcript showing good grades. Past experience working with developmentally disabled children is even better. Advertise your services through local school districts or at after-school events for a minimal expense. All tutoring services can be rendered in the home or online, and often using the student’s own materials.

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Suing a Deadbeat Client

Businessmen still hanker for a forgotten time when a contract was sealed with a simple handshake. They opine about the good old days when a man’s word was his bond and, moreover, the most important thing he had. They cherish memories of multi-million dollar deals closing over breakfast between two honest negotiators rather than weeks of thankless bickering between teams of Ivy League lawyers.

Yes, times have certainly changed. Whether or not it’s for the better is a matter of opinion. Regardless, businessmen of today need to perform due diligence at every turn in order to ensure their interests are protected. First, they need to certify every contract in writing. While oral agreements are indeed legally binding in a court of law, they are much more difficult to prove. Businessmen should also research, interview and background check clients so they know the kind of people their dealing with beforehand. A perspective client with a shady history may not be worth the risk, irrespective of his perceived value.

However, sometimes, there is just no way to foresee or avoid dealing with deadbeat clients who refuse to pay their bills. Contracts may be in place, due diligence performed and services rendered to their satisfaction, but the invoices remain unanswered month after month. In this case, when all else has failed, litigation is definitely a worthwhile option to consider.
 

Assess the Costs

Risk and reward must be compared before deciding to move ahead with a case. All too often, the costs of pursuing the client outweigh any possible gain, even in a best case scenario. Court costs, lawyer fees, travel expenses, collection costs and time lost from more productive endeavors must all be considered. Only when the chances of a profitable outcome are favorable should litigation be pursued. Pyrrhic victories, on the other hand, serve little purpose and simply clog up the system.
 

Build Your Case

Review your contract thoroughly. Highlight areas within the contract that you believe were violated. In the case of a deadbeat client, the compensation clause is most likely to articulate the payment amounts and schedule that was agreed upon. Assemble any and all supporting materials in addition to the contract, including invoices, demand letters and proof that your services were rendered correctly. If you’ve kept organized records and have the facts on your side, you’re ahead of the curve. However, make sure your contract does not have an arbitration clause. If it does, you may need to arbitrate the matter before the AAA, NAA or other reputable body instead of going to court. If the clause calls for binding arbitration, the arbitrator’s verdict will hold up in a court of law.
 

Filing with the Court

The contract’s “governing law” clause should articulate which state’s court system will adjudicate disputes between the parties. However, if no jurisdiction is referenced, then the state where the business was transacted takes precedence. In cases where business was transacted across state lines, the plaintiff will have to sue the client in the client’s home state. This may prove cost-prohibitive, particularly if it’s a small claims suit. Once the jurisdiction has been established, the plaintiff can choose whether to acquire, complete and file the proper documents in order to begin the legal process.
 

Serve the Client

The client must be served notice that you are taking him to court. He can be served at his residence, workplace, local gym – just about anywhere. Typically, a plaintiff will hire the sheriff’s department or a professional process server to do this, although most states allow anyone not directly involved in the case to attempt service (even a friend or family member of the plaintiff). If the client cannot be located, then they cannot be served and taken to court. However, many states allow for substitute service, where a competent adult over the age of 17 can accept service on the client’s behalf.
 

Attaining a Judgment

Once the client has been properly served, the court will set a trial date. This is where your preparation, planning and case-building will come into play. Either you or your attorneys will have to argue the case before the judge or magistrate, although in small claims court, it is important to note that attorneys are generally not allowed to participate. Civil matters such as this are always decided based on the preponderance of evidence, which essentially means whoever presents the strongest case, even by a hair, will emerge victorious. But it is up to you, the plaintiff, to prove your case in order to secure the judgment. If you fail to do so, the defendant may win without having to say a word. On the other hand, if the defendant fails to show up and the judge believes your case has validity, she may issue you a default judgment, which you can immediately set about trying to enforce.
 

Enforcing the Judgment

Once you secure a judgment, the most challenging part begins: collecting. Most states give the plaintiff at least seven to ten years to collect the judgment and may have subsequent renewal periods that extend the timeframe even longer. If the defendant is a company as opposed to an individual, the first step should be to send a demand letter. More often than not, the company will simply pay the judgment. Otherwise, you need to acquire a writ of execution from the court ordering the sheriff to seize the defendant’s assets. Methods include garnishing wages, levying vehicles and bank accounts, seizing furniture and computers, forcing home sales and till tapping (which is where the sheriff literally removes all money from the defendant’s cash register). In order to properly assess the defendant’s assets, you may require the defendant to attend a judgment debtor’s exam, where they are required by law to divulge any information to you that pertains to their current financial position. If they lie or refuse to answer, they can be placed in contempt of court and jailed. If they fail to show for the exam, a warrant will be issued for their arrest and they will be jailed. Properly utilizing all of these tools that are at your disposal is crucial to ensuring the judgment gets satisfied.

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Entry Level Jobs in the Entertainment Industry

Entertainment is one of the most alluring industries in the world. It attracts people of all colors, creeds, races and religions; young and old, male and female; from the well-educated to the uninitiated and everyone in between. The usual trappings include the promise of lifelong dreams fulfilled – most often fame, fortune and power – where, as the old song goes, any office boy or young mechanic can be a panic. Yes, entertainment truly boasts a universal appeal in nearly every corner of the globe.

But how does one get in the door? Where does one start? Surely there are ways to circumnavigate the heavy barriers to access that the Hollywood elite have constructed, you ask. And yes, there are. But for most, it will take good old fashioned hard work, as pipe dreams of being discovered while pumping gas or shopping at the supermarket rarely pan out. Those willing to pay their dues by starting at the bottom and working their way up are most likely to find stable work in the business while simultaneously developing desirable skills. Below are a few such entry level jobs specific to the industry.
 

Intern

An internship is ideal for college students seeking course credit or any individual unencumbered by the need to earn daily income. While a small handful of internships might pay, the majority do not. This, however, makes them more plentiful, and thus more accessible. Interns can be found in nearly every facet of the industry, from production companies and movie studios to entertainment law offices, casting agencies and publicity firms. As a result, they have a great deal of choice when deciding what area to focus on. However, basic duties are relatively similar regardless, and will include menial tasks such as fetching coffee, copying documents and organizing files.
 

Receptionist

Once upon a time, reception was thought of as a dead-end road, geared mostly to older women or those without any marketable skills. Now, the receptionist position has become a solid way for men and women of all ages to gain access to a company, learn the players there and study the organization’s operational philosophy. Since the industry has a certain image-driven fickleness, many firms may require a pretty face in addition to a stellar phone manner; but those who make it in quickly gain knowledge to all areas of the company, allowing them to focus their career path in the direction they find most attractive. A few lucky ones in smaller firms may even get bestowed with the more resume-friendly title of office manager.
 

Runner

These are the folks who pick-up and deliver various sundries throughout the industry, from scripts to tapes to executive lunches. More often than not, the job requires a reliable automobile and a solid working knowledge of the local area. In addition, pay is usually minimal. However, high turnover rates among runners mean they aren’t expected to last long, so sticking with the position for a few months can often lead to advancement. The nature of the position also affords the runner a chance to get brief face time with people at other potential employers.
 

Executive Assistant

Those seeking a career in development, producing or client representation should focus on finding a relevant assistant position. Studio executives, producers, agents and managers rely heavily on their assistants, and many top level players have more than one. Assistants are often treated poorly and pay rates may only average $500 per week, but the opportunity for advancement is higher than many other entry level positions in the industry. Also, most positions come with perks such as health benefits and paid vacations. Common duties include reviewing scripts, rolling and conferencing calls, overseeing the office intern pool, scheduling and attending meetings, placing lunch orders and greeting visitors.
 

Production Assistant

This is the executive assistant’s on-set fraternal twin. Instead of helping one particular producer or executive, however, they assist an entire production, typically at the behest of the line producer, production manager or assistant directors. This is perfect for individuals who want to learn the ins and outs of a movie or TV set. Production assistants (affectionately referred to as PA’s) are tasked with supporting a variety of departments, giving them a broad overview of many higher level jobs that may interest them. While pay is comparable to executive assistants, and can even be higher on larger productions, job security is lower since the position ends when the production does.
 

Background Actor

Some people simply crave a place in front of the camera. “Extra work” in film, television and commercials provides an easy avenue to satiate that appetite for the spotlight, and requires no skills or prior experience. In addition, background casting agencies seek people of every physical type, age, sex and ethnicity. Work is irregular and inconsistent, but more easily accessible than just about any other in the business and is a great place to network with like-minded peers. Pay for non-union extras is minimum wage, so most will also need a supplemental form of income.

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How to Best Organize a Profit and Loss Statement

So what exactly is a profit and loss statement? Quite simply, it’s a financial summary of your company’s revenues, expenses and resulting profits or losses over a given period of time. This crucial document allows business owners to gauge how much money each division, department or service is bringing in during reporting periods while measuring it against how much is being spent, both in total and in specific subcategories, over that same timeframe.

This way, business owners can make informed decisions on how to manage costs associated with running the business, including what areas need to be trimmed or cut altogether and which ones need to be boosted.

Profit and loss statements are intended to make the lives of corporate decision-makers easier. However, in order for them to do this, they also need to be easy to follow and understand. Below are a few tips on how to best organize your P&L statement.
 

Timeframe

P&L statements are typically rendered monthly, quarterly and yearly. Analyzing profits and losses across the shorter timeframes help business owners adjust their strategies so they can improve their fiscal outlook across longer timeframes. By learning from one bad month, adjustments can be made so that subsequent months are more productive, which ultimately makes for a better quarter. Similarly, applying lessons learned from a bad quarter can help improve the fiscal year figures. However, the statement can ultimately cover whatever period of time you wish. Since it is meant as a tool to help you determine net income over a given period, choose a timeframe that makes the most sense for your business model, transaction volume and reporting structure.
 

Transaction Details

Every transaction referenced in the statement, be it a revenue or an expense, should have certain details associated with it. Such details include the date of the transaction; the transaction type (was it a deposit, debit, check payment, something else?); the party with whom the business was transacted; an invoice number; and a class, category or job number that identifies the department (business and legal affairs, human resources, project X, etc.). In addition, a memo section should be included for notes and descriptions about the transaction. Last but certainly not least is the amount of the transaction and the resulting balance showing the new total of all transactions in that class. These categories are most commonly enumerated along the statement’s “X” axis.
 

Revenue Subcategories

Revenue transactions are usually organized among groups that help identify the type or source of the revenue. These groups are enumerated along the statement’s “Y” axis. Revenue groups might include services, sales, investments and miscellaneous income. More specific subgroups are then broken out under each group, providing yet further detail for the reader. For example, subgroups under the “services” section of a car wash’s P&L might include basic washes, wash-and-wax combos and full detailing. Break out revenue groups and subgroups in a way that makes it simple to identify which areas of your company are the most productive.
 

Expense Subcategories

Just like revenue transactions, expenses should be organized through the use of groups and subgroups along the statement’s “Y” axis. Categorizing expenses can be tedious since they can often be numerous. Examples of primary expense groups include employee payroll, advertising, legal fees, insurance costs, office supplies, office rent, travel costs and taxes. Less obvious groups might include bank service charges, working meals, employee bonuses, gifts and amenities, dues and subscriptions, maintenance, postage and delivery charges. Many of these will then be broken down into smaller subgroups. For example, advertising expense subgroups might include Internet, print, television, radio, publicity and in-store promotions. Again, organize groups and subgroups in a way that makes your expenses easy to track.
 

Remember, profit and loss statements are your friend. They’re a reliable tool for determining your company’s net income and can be a valuable asset when soliciting outside investment. But they must be thoroughly maintained and should be backed up by corresponding documentation such as payroll registers, bank transaction records, invoices, receipts and deposit slips. If you feel inadequate to create and maintain a P&L, be sure to hire a CFO, accountant or other capable individual who can.

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Seven Ways to Impress a Potential Employer During a Job Interview

You’ve reworked your resume so it’s just right. You signed up for every job search site and networking group you could think of. A new pair of Florsheims and a freshly dry-cleaned suit sit in the bedroom closet.

You’ve been out pounding the pavement, applying for jobs with a single-minded focus you haven’t exhibited since that first-year trig exam in college. And it’s finally paid off. You just got a call from a potential employer who wants to meet with you in order to determine whether you’d be a good fit for their organization. So you may be thinking to yourself, now what? How do I close the deal? What can I say or do that will give me a leg up on the competition? These are all good questions. Here are seven distinct things you can do that will allow you to maximize your effectiveness in the hot seat.
 

Dress the Part

Your physical appearance is the very first thing a potential employer will notice. And not just the interviewer; but his boss, the receptionist, HR, co-workers and others who might be influential in the hiring decisions. Being fresh, clean, well-groomed and wrinkle-free show that you’re taking the interview seriously and gives the interviewer an idea of how you’ll look representing the company. In addition, it’s important to dress for the job you want, not the one you have or had. This lets them more clearly visualize you in the new role.
 

Greet the Host

Your physical appearance is only half the battle in making a good first impression. The other half is how you present yourself when greeting the interviewer. When she enters the waiting room to fetch you, be sure to stand up tall and straight. Don’t fidget or exude nervousness; confidence is paramount. Shake hands firmly, maintain eye contact and radiate a genuine smile. Also, be sure to pay attention to the interviewer’s name and job title when they offer it; you may need them later.
 

Know Your Resume

Nothing looks more unprofessional than not knowing the contents of your own resume. Be sure to thoroughly review it the night before or morning of so you can adequately address the interviewer’s questions regarding it. For those who have multiple versions of their resume, be sure to know which one you gave to the employer. You will typically be expected to bring a hard copy to the interview (yes, even in this digital age), so bring at least two – one for the interviewer and one for you to refer to as a shorthand.
 

Know Their Company

With the Internet being as easily accessible and navigable as it is nowadays, few excuses exist for not having at least a cursory knowledge of the organization with whom you’re interviewing. Do some background research and information-gathering the night before. Know the company’s stock and trade, awards, clients, key players and any claims to fame. Impress the interviewer with your knowledge and enthusiasm for what they do. Allow her to see your understanding of company philosophies and practices. Moreover, demonstrate an informed understanding of their industry and the specific position, if possible, as well.
 

Listen and Engage

Anxiety often causes people to talk too much. So make sure you’re calm and relaxed prior to starting the interview. Avoid being loquacious, which can create the perception that you’re nervous, unfocused and inattentive. Spend at least as much time listening as speaking. Respond to the interviewer’s questions with lucid, concise and relevant answers. Choose words carefully, ask questions and engage the interviewer with thoughtful dialog that propels the conversation forward.
 

Maintain Professional Conduct

Be conscious of your body language during the interview. Just as with the greeting, good posture, eye contact and a healthy smile go a long way. Avoid fidgeting with your hands by keeping them gently clasped together in front of you. Don’t fold or cross your arms either, as this comes across as antagonistic and aggressive. Nod as the interviewer is speaking to show you’re fully engaged. When responding, be careful not to say “um” or “uh” too often and refrain from using inerudite slang like “ain’t,” “yeah” and “nope.” Also, watch the interviewer’s body language and speech patterns to ensure she is reacting to you in a positive way; if not, make some adjustments to your own.
 

Have Passion and Positivity

Genuine passion for a job is a quality all employers universally seek in new hires because it begets hard work, high performance and lower turnover. Similarly, a positive attitude makes for a better workplace with less stress, eventually resulting in greater productivity. Show the interviewer through your knowledge, tone, inflection and body language that you possess a real excitement for the position and that you’re upbeat disposition will translate into more efficient man hours, significant attention to details and a team-oriented work environment.
 

Note: After the interview is over, exit the way you entered – with a firm handshake, eye contact and a confident smile. Always be gracious, even if you feel that it’s likely you won’t get the job. Follow up with a thank you letter or phone call a few days later. Habits like these and the ones above will eventually become your hallmark, demonstrating a commitment to professionalism that could ultimately make the difference between landing that job or losing out to the competition.

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The Best Employee Holiday Gifts Under $20

Well, it’s that time of year again. Sleigh bells are ringing, mistletoe hangs from the doorframes, yuletide music blares from elevator speakers… and employers once more face the unenviable task of brainstorming affordable gift ideas for their workers. Yes, welcome to the holidays in corporate America. Assembling one-size-fits-all holiday gifts for a diverse cadre of underlings can be daunting in and of itself; but when coupled with the mad mid-December dash to close out jobs, pad yearly revenues and train a small army of seasonal temps, heck, it can become downright excruciating – an overwhelming burden that ultimately gets the proverbial axe and leaves you looking like Ebenezer Scrooge.

However, stressed-out bosses everywhere should breathe a little easier this year. Providing your employees with thoughtful gifts that won’t break the bank – a veritable necessity in this economy – is not as difficult as it might seem if one knows where to look. The Internet is flush with ideas for under $20 knickknacks that are perfectly suited for workplace gift-giving. (And many go even cheaper when bought in bulk.) Often times, something small and simple is the ideal way to show an employee how much you appreciate their service. So here are 10 such gift ideas culled from cyber-sphere wish lists, blogs and contributor news sites that will put the Santa back in your step…
 

Coffee Mugs

Coffee and tea drinkers alike will readily admit that their mugs are essential for combating morning enervation. Moreover, a mug’s unisex nature makes it practically universal and allows the bearer to express himself via its pictures and verbiage. Employers can purchase mugs that depict local sports teams, their city, the company itself or some other collective theme shared by those in the office. Even the caffeine-averse can use it as a flower vase or pen holder.
 

Chocolate

Really, who doesn’t like this? (Short of our allergic and lactose-intolerant friends.) Whether you crave the feel of childhood nostalgia, a rush of serotonin or a simple yet flavorful after-dinner snack, chocolate is almost always the answer. And major brands offer reasonable prices. One-pound candy boxes from See’s, white chocolate peppermint truffles from Godiva, and a festive tin of dark chocolate-covered pretzels from Crate and Barrel can all be had for less than a Jackson.
 

Books & DVDs

Got employees that yearn for adventure to new worlds and faraway lands? A good piece of literature or an engaging movie is the cheapest way to appeal to the swashbuckler, fortune-hunter or hopeless romantic in your office. Online retailers like Amazon or Barnes & Noble carry everything under the sun. Not a fan of fiction? Opt for a how-to book or a documentary that inspires positive workplace conduct. Buy hard copies for the old-schoolers; kindle versions and downloads for the techies.
 

Movie Tickets

The voluminous Hollywood machine with its bevy of genres, stories and stars means there’s always a film to see, whether you’re an avid cinephile, the once-a-year event-movie type, or somewhere in between. Sites like Wild About Movies offer discounted tickets to major theater chains around the country, making a pair of passes a cost-effective endeavor. Or go really cheap and get $3 discount vouchers for AMC’s concession stand in bundles of 50.
 

Retail Gift Certificates

Offices with a hopelessly diverse cast of characters who seldom agree on anything calls for a gift that provides choice. Enter the magnanimous gift certificate. Yes, this little piece of paper may advertise how generous or cheap you really are, but it also allows Betty in accounting to get her favorite candles, while Mike in legal can go full-on with a new pair of ankle socks. No agreement necessary. Just try to buy from a department store or one with a similarly large selection of goods.
 

Customized Ornaments

Looking for a gift that’s a bit more personal and still speaks to the merriment of the holidays? Try going a little outside the box with customized tree ornaments that feature your company logo, a picture of the entire staff, or a profound statement about the joys of being the office boss (wink, wink). Also, hanging Hanukkah decorations can be made for Jewish workers. Sites like Bronners and Zazzle.com can customize ornaments for as little as a few bucks per unit.
 

Gourmet Coffee

Here’s another option for those workers futilely mired in our caffeine-addicted culture. A 16-ounce bag usually retails for about $10 to $15, and can easily be found through a simple Google search. Coffee Wholesale USA carries a cache of rare whole bean blends, while Roastar will actually let you customize the bag. So spring for the organic Arabica or slow-roasted Hawaiian Kona, and reap the double benefit of employees who are both grateful for the gift and uber-alert on the job.
 

Wine

Employees who are 21 years of age or older will often appreciate a good bottle of Cab or Chianti. Most supermarket vintages are well under $20, with additional discounts offered at Ralph’s, for instance, when you purchase six or more bottles. Sparkling cider or non-alcoholic wines are suitable alternatives for non-drinkers or offices where alcohol may not be appropriate. For all others, get the real stuff and throw a bow on it. Just make sure they don’t drink it until they get home.
 

Practical Office Gear

One thing that everyone in the office has in common… is that they all work in the office. So why not get them something for their office? The sky’s the limit here. Desk calendars, paper weights, pen holders, picture frames and executive sticky note cases can be matched with an employee based on both taste and need. Online retailers like Baudville.com will even let you personalize it. Plus, this way, you know that your gift didn’t wind up in the back of their bedroom closet.
 

Mobile Applications

A few years ago, this wouldn’t even be possible. But now, in this tech-driven, smartphone-crazy world we live in, gifting an app to someone might just be the most app-licable, app-ropriate and app-reciated thing you could do for them. There are literally hundreds of thousands of apps available, so chances are you’ll find one that’s right for each person. Most app stores now offer functions that make it easy to choose, pay for and send an app as a gift. You’re welcome. No app-lause, please.

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The Traditional Brick and Mortar Office is Shifting to the Revolutionary Virtual Office

Times are constantly changing, and we can decide whether we want to go along with these changes, or not. One of the major changes when it comes to the world of business is the fact that most of the smaller mom and pop shops that were once considered to be the backbone of the business world have slowly lost their place over the years due to the creation of big business companies, which were formed with a purpose of saving people money.

The next big change when it comes to the world of business is the move from the traditional brick and mortar business building to the world of getting what we need simply by going online and using the internet. Although the internet did give the ability for some of the smaller businesses to be able to stay a little more competitive with the bigger businesses, the number one goal for most people is to look for the best deals so they are able to save money.
 

Traditional Office vs. Virtual Office

When it comes to running a business, no matter whether that business is big or small, the costs of running a traditional office can get to be quite expensive. Of course, having an office is a necessary part of any business as this is where all the organizational components of running a business is done.

There are a number of associated overhead costs attached to a traditional office, which can add up rather quickly! Since one of the main goals of a business is to make a profit, the expenses associated with a traditional office can make quite a dent in the overall budget.

Therefore, many businesses, both big and small, are beginning to recognize the many, high expenses that are associated with using a traditional office, which is the reason for this current shift. This shift is showing that business owners are deciding to cut office overhead expenses by moving from using a traditional office to using a virtual office.
 

Virtual Office Benefits

Using a virtual office offers a number of great benefits that are designed to not only help a business with their organizational needs, it can save them a lot of time as well as money! When you decide to use a virtual office, you’re deciding to let a group of professionals handle your office needs, which not only helps you stay organized, those who do business with you will appreciate the professional presence that a virtual office allows. Global Business Centers can help you decide which virtual office package will best suit your particular needs, so be sure to contact them so you can join in on this revolutionary shift that can save you both time and money.

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How to Form a Business for Less than $1,000

So you’re interested in starting your very own business yet have limited finances. What are your choices? Good news is that you have many choices. Although they will be limited due to your limited finances, rest assured that you will be able to form your very own business for less than a $1000. This may mean that you don’t get to have everything you want right away, but that’s okay. Once you get started and establish your business, you can then begin to use your profits to buy all the additional items you want for your business.

The following information is a short-list of the necessary business essentials that will help you get your business started.
 

Free

Although it will take a lot of time and hard work, doing a lot of tasks yourself will save you lots of money!

  • Write your own business plan by using a free business plan template.

  • Take advantage of free business services, such as training and counseling.

  • Advertise/market your business using a few of the oh-so-popular social media options currently available, such as Facebook, LinkedIn and Twitter.

Low-Cost

Although you can do a lot to form your business for free, the following are either essential or deemed important when it comes to forming your very own business.

Register your Business: Depending on the state you register your new business in will determine how much the registration fees will cost you. Costs start at around $100.

Create a Website: The internet is here to stay, making creating a website to go along with your business essential! Costs for a domain name and one year of website hosting starts at around $60.

Create a Logo: Hire a freelancer to create a catchy business logo. Instead of hiring a big company, try one of the more popular freelancing sites, such as UpWork or Guru. Costs start at around $50.

Business Licenses/Permits: The cost of a business license or permit is minimal, normally ranging in price anywhere from $10 to $100, dependent on your particular state.
 

A Few Helpful Tips

If you need to buy any business supplies, ask for a discount. Promise the supplier that you will give them your future business. Also, look into one of the many available programs available that assist startups, small businesses, and/or minority groups

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Popular Questions about Start-up Companies–Before and After

Whether you’re either thinking about starting your very own company or have recently established a new company, you’ve taken the first (and very brave!) step towards making your business-related ideas come to life. Maybe you’re following a life-long dream, or maybe you like the idea of being your own boss, just know that when it comes to starting your own business there are a lot of aspects involved. Understanding these aspects will help you succeed!

Once a person starts entertaining the idea of starting up their very own company, their mind immediately begins to start thinking not only about all the steps that need to be taken to make this happen, but also the various details that need to be addressed that are required to make the business a success. Whether you already own your own company or are starting a new one, the questions you have will pertain to how you can turn your business into the successful entity you envision it to be.
 

Before

Before actually starting a company, you should take the time to ask yourself the following questions. These questions will help you to understand many of the aspects that come with starting a business, helping you to recognize as well as determine if you are indeed ready to start your very own business.

  • What kind of business do I want to create? Why? Do I need a business plan?

  • Who is my target market? What will I sell? Products? Services?

  • Who is the competition? How can I make my business unique?

  • Where will I establish this business? What’s my marketing plan?

  • How much money do I need? Will I need to borrow money?

  • Do I need help? Supplies? Insurance?

After

If you are a newly established business, you already have the answers to the above questions and now have a new set of questions that need answering.

Good to Know

If/when you decide to start your own company, there are a lot of resources available that can help you in every aspect of starting and managing your particular business.

 

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Modern Ideas for Marketing a New Business

One crucial area that many entrepreneurs don’t contemplate nearly enough is how to best market their business. Sure, they’ve performed the requisite R&D, know the ins and outs of manufacturing, identified their client base and created an internal operating mechanism to sufficiently handle the anticipated demand. But all of this is relatively meaningless if a plan is not in place to ensure that customers know about the company and, moreover, feel compelled to buy the product or service being offered.

While proper marketing has been a cornerstone of successful businesses for ages, changing times do bring changing attitudes. These changes, along with rampant globalization, newly evolving media platforms and various technological advances, have altered the ways that companies must manage their message. In essence, as times change, so must a company’s marketing strategy. Yet many fail to do so.

Business owners new to the marketplace may find it difficult to compete against more established companies. However, the establishment often feels a sense of entitlement and comfort with their position at the top, in turn breeding contempt for new marketing ideas. This misguided egotism offers an opportunity for those lower on the totem pole. A number of modern marketing ideas exist which can help level the playing field and, if utilized properly, can even offer newcomers a bit of an edge.
 

Interactive Social Media

Nothing screams “modern” like social media. Facebook, Twitter, Youtube and a host of imitators are all competing for real estate on the world wide web, and most companies today have some sort of social media presence. But many have no idea how to leverage these platforms. An ill-advised marketing strategy can actually have an adverse effect from what was intended, making a brand look staid, uninteresting and even lame. Businesses nowadays must create an interactive experience that engages users and invests them in the product. Posting updates on Facebook, for instance, does nothing to encourage potential buyers to act. And infrequent, sporadic posts are even worse, insinuating a lack of eventfulness the rest of the time. Instead, business owners should create opportunities for potential buyers to participate in contests, events, campaigns and activities, which are either held online or in the real world with an online component. Have customers upload their own videos advertising the product. Solicit their opinions on future accessories. It’s not enough to draw people to your product; you must get them talking and writing and posting about you. Enough active participants will create a viral reaction that does a lot of the work for you.
 

The Blogosphere

Blogging has gained popularity because it creates a personal connection between writer and reader. This goes for service providers and their customers, too. Blogs are more personal and less formal than articles written for professional publications, in turn attracting younger viewers on average. Larger companies usually avoid blogs, either because of its perceived lack of professionalism, or because it becomes more difficult to control a central corporate message, or any combination of other reasons. But newer companies can utilize the medium to convey their business with passion, free of many constraints that might hamstring more established competitors. Craft a unique message that’s missing from the marketplace, utilizing your own company blog as well as comments on other relevant blog sites, and watch as a like-minded client base begins to coalesce around you.
 

Visibility Marketing

Buyers are more likely to sample your product or service if they’re seeing it everywhere. And there’s never been more opportunity than now for small start-ups to get the kind of exposure once reserved for the big guys. Search engine optimization is one technique that allows business owners to increase their visibility through unpaid keyword searches on Google, Yahoo or Bing. Define, refine and redefine your message through targeted keywords specific to your business in order to rank higher than competitors in search results. The more targeted, the better. In addition, lower cost paid options such as Google AdWords and web site “retargeting” identify a user’s online behavioral habits and display ads based on these habits, either on designated search engine pages or as banners on other web sites. Visibility marketing does not have to be limited to the Internet either. Thanks to reduced production costs and an ever-expanding cable network space, businesses can create slick commercial advertising packages through local cable providers on reasonable budgets, which include limited runs in select markets. This goes for satellite radio as well. A coordinated initial marketing campaign combining Internet, radio and TV in key markets can serve as an effective launch point for a business seeking exposure.
 

Internet Promotions

Customers love to save money. They also love to feel like they’ve “discovered” a deal. Offering promotions, coupons, discounts and other financial incentives through the web that undercut competition is a powerful way to initiate positive word-of-mouth without the expensive hassle of a mailing campaign. If a customer can receive the same product or service at a lesser cost, particularly in a market with limited choices, then he is more likely to pass this little “hidden secret” on to fellow buyers. However, it’s important to keep altering the promotions in order to make them feel fresh so that the thrill of discovery is maintained with each subsequent wave of new clients.

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Unusual (but Legitimate) Small Business Tax Deductions

The United States has the highest corporate tax rate in the world, standing steady at 39.2% when both federal and state rates are calculated. On top of that, the IRS has concocted a labyrinthian tax code over the years that tops 72,000 pages and counting (as of 2011), ensuring that well-meaning small businesses will inadvertently get tripped up on some obscure law or regulation somewhere down the line.

Many entrepreneurs have found that it is simply cheaper and easier to do business in foreign countries that are friendlier to small businesses, subsequently diminishing our pool of intellectual capital as outside markets become more competitive. However, with a little knowledge, business owners can use this massive tax code to save money through all sorts of deductions they didn’t even know existed —all above board and all designed to save small businesses money. Here are just a few…
 

Animal Expenses

Vet bills, pet food and animal transport costs can be written off if you can show how that cat, dog or bird is vital to the operation of your business. For instance, in 2009, a South Carolina couple was able to write off the costs of feeding stray cats in the area because they were keeping snakes, rats and other vermin from infesting the property. Guard dogs, homing pigeons and a Japanese restaurant’s koi pond are other defensible examples.
 

Swimming Pools

The costs of maintaining a pool at a hotel, resort or any such place open to the general public is clearly a legitimate business expense. However, private enterprises can also write off costs such as cleaning and maintenance if they can show a medical, therapeutic or health-related use for the pool. For example, a personal fitness trainer who uses a pool on her own property to provide services to clients would qualify.
 

Legal Defense

Having to fight a court battle is almost never a good thing. However, under certain circumstances, businesses are able to deduct verifiable legal costs such as lawyers and courts fees. According to IRS regulations set forth in Publication 529, small business owners can do so when accused of wrongfully terminating someone from their job. As a general rule, legal defense fees associated with the collection of taxes or taxable income are also deductible.
 

Cosmetic Surgery

In 1988, a stripper received a $2,088 deduction for breast enlargement, as it was necessary for her to successfully operate within her profession. This subsequently set a precedent for tax write-offs in related areas. Other notable examples range from facelifts for entertainment personalities to gender augmentation for men who wish to excel in female-only occupations.
 

Private Airplanes

Fuel and maintenance costs on small charter planes can be deducted when a business owner can demonstrate that the plane was used for ends that directly impacted the bottom line. These expenses can range from the transport of goods to travel for meetings or conventions. The greater the business-related use, such as for a pilot training school, the higher the deduction.
 

Lawn Care

Does the look of the grass, trees and shrubs around your workplace affect the way you’re perceived by clients, and in turn the amount of business you get? If so, this can be legitimately deducted from your taxes. Business owners who meet clients at their home, from massage therapists to tax advisors to hairdressers, can reasonably assert that a customer will judge the appearance of the outside to be indicative of the service quality on the inside.
 

Alcohol and Party Goods

Beer, wine and liquor are qualifying expenses when used to attract business. For instance, an entrepreneur who sets up shop in a new town may hold a party to attract clients. In this case, not only would the alcohol be deductible; so would other party expenses including music, food, lighting, decorations, wait staff and even the valet parking.
 

Trips to the Tropics

Sometimes it’s cool to mix business with pleasure. Companies can hold conventions in the Bahamas and deduct the costs without actually demonstrating a specific reason for them to be held there. Other Caribbean countries also qualify, including Bermuda, Jamaica, Barbados, St. Lucia, Trinidad and Tobago, the Dominican Republic, Guyana, Grenada, Cancun and all U.S. possessions, such as Puerto Rico and Guam.
 

Payments to Your Significant Other

A property owner hired his live-in girlfriend to manage his real estate holdings, with duties that included supervising repairs, decorating and running his personal household. The IRS permitted him to deduct $2,500 as an allowable business expense from the $9,000 salary she received. Such payments are considered deductible so long as the services are not routine household chores, but rather are directly attributable to the company’s operations. Such a deduction is especially helpful to couples running a start-up out of their own place.

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What Elements to Include in Your HR Employee Handbook

If corporations are engines, than their workers are the fuel that makes them run. And just as better grades of fuel extend the life and increase the performance of that engine, so too do better people improve the quality, efficiency and experience of the workplace. The task of the Human Resources department is to recruit desirable candidates, train them to be productive employees, and manage their conduct within the organization’s existing framework. Important issues that employees expect Human Resources to address range from compensation and benefit plans to official work site rules and policies.

For extremely small businesses (those with 20 employees are less), Human Resources is often an unnecessary luxury. However, entrepreneurs who are intent on expanding the size and scope of their small businesses may be seriously considering the creation of an HR department to address ever-growing staffing needs. In that case, it will be the task of the business owner to work with their new HR Director in order to address the policies of the workplace and then organize them into a coherent handbook.

This handbook will be provided to each employee upon their hiring. As such, certain attributes are deemed an integral part of every handbook, regardless of the nature of the business.
 

Harassment Policy

This section deals with the policies of the company in regards to unwanted advances or touching, inappropriate language, obscene jokes, written or oral abuse, sexual misconduct and the display of sexually suggestive or offensive objects, pictures or posters. Management should lay out how accusers and offenders will be dealt with, including potential action up to and including termination. In most states, the harassment policy must be tailored to comply with existing labor laws.
 

Drug, Alcohol and Violence Policy

Similar to the harassment policy, this will detail the employer’s efforts to create a safe work site in compliance with state and federal laws and free from illegal activity. Consequences for violating the policy, up to and including termination and criminal prosecution, should be thoroughly explained.
 

Attendance and Employment Basis

A good handbook will address attendance requirements and penalties for consistent tardiness or absenteeism. It will also clearly articulate whether employment is of a contractual nature (and what is required to trigger an exit), or whether it’s considered “at-will,” in which case the employer or employee can terminate the relationship at any time with or without cause.
 

Work Hours, Scheduling and Time Cards

The employer is tasked with setting clear hours for the employees, particularly if certain work schedules are irregular. The handbook should lay this system out along with how hours are to be tracked, be it a punch card, electronic time sheet or some other method.
 

Pay Periods, Paydays and Overtime

Compensation matters are usually of the utmost importance to employees at all levels, and as such, must be clear and concise. The pay period addresses how often employees will be paid and what range of dates the paycheck will cover. Is it every week, every two weeks, the 1stand 15th of the month, or something else? The payday is what day or date the employee can actually expect to receive the check. Also, how overtime hours will be scheduled and approved should be addressed.
 

Holidays, Sick Days and Vacation Pay

The company should list any holidays it recognizes and compensates employees for. The six standard government holidays recognized by most firms include New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving and Christmas Day; however, employers are free to choose whichever paid holidays they like. In addition, the employer should articulate how many paid sick days, personal days and vacation days each employee starts with, how many they can attain in time, and over what amount of time these things accrue.
 

Leaves of Absence and Re-Employment

This section details how longer employment leaves will be handled, be it for military duty, bereavement, maternity, jury duty or personal reasons. It will also address how former employees who are re-hired within a certain amount of time are treated, including the uninterrupted continuation of benefits or the ability to skip new employee orientations.
 

Dress Code

Management must detail what apparel is appropriate for the workplace and what is not. This may not only change from company to company, but also from employee to employee within the same company. For instance, IT engineers, sales associates and warehouse workers may all require different clothing to properly perform their job duties.
 

Confidential and Proprietary Information

Most companies want to be absolutely clear that it is they, not the employee, who owns all supplies, client lists, contracts, sales reports, financial and marketing data, systems, forms, software, hardware and other corporate materials either provided by the company or generated while the employee is at the company. Such information is usually deemed to be of a confidential nature as well so that employees keep it out of the hands of competitors and the like.
 

Other Information

Various other sections of the handbook might deal with how personnel files and records are maintained; how performance evaluations are administered; what constitutes conflicts of interest; policies on gift-giving and receiving, solicitation and distribution on company property; how business expenses are handled; personal inspections; electronic networking and resource policies; stock shares, IRAs, 401(k) plans and insurance benefits; and the chain of command when reporting any workplace issues.
 

It is also imperative that companies place a signature page at the end of the handbook, which the employee must sign and date acknowledging that they received a copy of the book, read it and fully understand its contents. The page should then be removed from the book and maintained in the employee’s personnel records.

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How can I expand my start-up business globally?

A lot of various responsibilities come with owning your own start-up business. This includes, but is certainly not limited to, thoroughly and consistently researching your particular business niche, having essential computer skills, being extremely organized, managing employees, creating business and marketing plans, and knowing the laws that govern your particular area of business.

Of course, one of the main goals of owning your own business is doing everything in your power to ensure that your business is able to grow and expand. This means that you are always striving to reach new levels, making it so that you are able to be one of the leaders when it comes to your particular business niche.
 

Expanding a Business Globally

The last few decades has witnessed a large number of businesses that have decided to place a large focus on expanding their business globally. This is mainly due to the fact that when it comes to business-related ventures, the reduction of economic barriers has made it so that it pays to do business on a global basis. The upside is that there are more options, meaning more companies to partner with as well as a whole new base of people that may be interested in buying your particular product and/or service. The downside is the fact that there will be more competition, but this just means that you’ll have to work a little harder when it comes to finding out some of the best ways in which you can acquire new customers.
 

How To Expand a Business Globally

Ask yourself the following questions that can help determine if you are indeed ready to expand your start-up business globally.

  1. Is my current business plan enough or do I need to revise it?

  2. What additional resources will I need?

  3. What exactly am I going to sell? Is there a global market for this product/service?

  4. What market will I specifically be expanding into?

  5. What is my ultimate goal/reason for expanding my business globally?

As you can see, there is a lot to consider when thinking about expanding a business so that it is able to successfully compete with the many other businesses that are currently competing with each other in the global business market. This means that every available resource that can help make this significant transition be as effortless as possible should be investigated.
 

Resources to Help You Expand Your Business Globally

If you feel that you are in fact ready to expand your business globally, consider using Global Business Centers as a way to set up a virtual office for your start-up business. A virtual office means there are no boundaries when it comes to managing your particular business, making the transition from a localized area to a generalized one smooth and simple.

 

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