Business Growth Articles and Tools

New Overtime Rule Increases the Salary Exemption Thresholds

On November 15, 2024, the U.S. Department of Labor (DOL) Fair Labor Standards Act (FLSA) overtime pay requirements requiring more employees being classified as non-exempt has been overturned.

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How To Find A Business On Sale

Finding a business for sale involves research, networking, a serious commitment of time and resources for due diligence, and above all careful consideration. Whether you are thinking about buying an existing business as an alternative to creating your own startup from scratch, there are many important factors to consider.
Follow our a step-by-step guide to help you find a business to buy.

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Disadvantages of Using A PEO

In a previous post, we discussed how a Professional Employer Organization (PEO) company works, its many benefits, and the tax implications you may face if you hire one.

As a recap, a PEO is a service that small or medium-sized businesses may use to outsource some of their human resource, payroll, benefits, taxes, recruiting, and other management tasks. As you might imagine, there are both pros and cons in hiring a PEO.

Here, we’ll discuss the disadvantages of using a PEO, along with the associated costs of a PEO.

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Can A Non Profit Use A PEO?

In our PEO series, we’ve talked about what a PEO company is and who is the employer in a PEO relationship. Here, we’ll discuss PEO for nonprofits, and whether or not using a PEO for your nonprofit might make sense.

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Who is the Employer in a PEO?

Our PEO series is aimed at addressing the common questions about PEOs, and uncovering some of the lesser-known facts about working with a PEO so that you may make the best choices for your business.

So far, we’ve learned about what a PEO company does. Here, we’ll dive into some muddy waters and decipher who is really the employer in a PEO relationship.

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What is a PEO Company?

If you are wondering what a PEO is and whether or not this type of outsourcing may be a good option for your small or medium-sized business, this first article in our series of four posts will help you decide if it’s the right move for you. In this post, we cover everything you need to know about a PEO company including:
• What’s the meaning of PEO?
• PEO payroll
• PEO benefits
• PEO tax implications, and more.

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Business Bad Debt

Business bad debt refers to any debt created or acquired in a trade or business (or closely related to a trade or business) that becomes partially or completely worthless and can not be collected. Business bad debt is the result of a customer, another business, or an individual who cannot or refuses to pay their debt obligation to your business for goods and services received or rents owed. Debt may be considered closely related to a business if it was incurred for legitimate business purposes such as lending money to a business owner so the business can pay a supplier or meet payroll cash requirements.

2017 Business Tax Filing Deadlines Have Changed {Infographic}

Busy entrepreneurs need to be aware of several important changes in federal 2017 Business Tax Filing Deadlines for the calendar year ending 12/31/2016. Most notably is now employers have one month less to file Forms W-2 and 1099 MISC with the Federal Government. In the past, this information was due on February 28th. Now both the recipient and the IRS must receive these documents by January 31st. Similarly, Partnership Form 1065 is now due a month earlier on March 15th . On the other hand, C Corporations have an additional month to file Form 1120. Its due date is now April 18th.

Exclusivity Agreement Definition

In business, the term exclusivity refers to a party’s sole rights with regard to a certain business activity. This may include business relationships, pricing, products, or sales. Another application of this term in the business world involves relationships between parties, most notably in the form of exclusivity agreements. This post addresses how two forms of exclusivity agreements or clauses may be useful in business acquisitions and mergers and
strategic business relationships between two or more parties.

Increase Profit Using 80/20 Rule

If you own a business, you want to know that your entrepreneurial efforts will result in making money. However, many entrepreneurs struggle to recognize where they are making money and where they are not!

The Importance of a Minimum Order Policy

Most entrepreneurs find themselves extremely reluctant to turn away an order for any reason. The notion of telling a client or customer that their business or order is too small is frightening to even the most seasoned entrepreneur. However, if you don’t want to leave money on the table, and instead desire to make more profit, setting and enforcing a minimum order policy is absolutely necessary!

Have You Made Room for Forgiveness in Your Business?

Recently, I had the good fortune to attend a conference where a gentleman and his wife shared their personal story about forgiveness in their business and personal lives. It was an unforgettable story that hit home.

Look Carefully at what Pareto’s Law Applied to Business is Telling You

When applied in a business situation, Pareto’s Principle likely will reveal to the entrepreneur that thier business is serving (at least) two very different sets of customers/clients. And in trying to do so, he or she and their staff will suffer anxiety, frustration, and the loss of company profit.

The Deceptive Busyness Trap

The Deceptive Busyness Trap℠ is a debilitating business problem eroding cash flow and stifling growth.It’s a common issue facing many business owners who, over time, unknowingly become subject to its influence.

Business Is Personal, According to the Entrepreneur

Just recently, one of my colleagues Bernadette, whom I have known for several decades, called me for help. As I listened intently on the phone, this successful woman entrepreneur shared with me that one of her biggest clients said something to her that was devastating. Before she even began to share her story with me, I could tell by the tone of her voice she was very upset.

2 Ways to Increase Profit in a Business

If indeed, a greater amount of profit remaining at the bottom of the Profit & Loss Statement is what a business owner is striving for, then one should consider undertaking this exercise before attempting to grow the business by increasing sales.

Understanding the Sales Process Gap

“We need sales training” is a comment expressed by many business owners who feel frustrated that their company is not realizing its full growth potential. Many times this comment is rooted in a frustration caused by gaps in the existing sales process that impede profitable growth. The lack of an effective sales process is one of the top challenges for many entrepreneurs trying to grow a profitable business.

How a Business Continuity Plan Unfolds

Recently I found myself looking around for a candid camera and asking “is this really happening?” You see, over the past three weeks or so, my own business continuity plan has been tested and tested and tested again.

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