A: Small business owners must perform their own due diligence when hiring and classifying workers. Owners who currently use independent contractors should consider reviewing the nature of their relationships with them. Before classifying your workers as Independent Contractors, New Jersey employers should ensure their workers satisfy what is known as the “ABC” test: (A) The […]
Here is the truth… very few small businesses have dollars allocated to marketing in their budget. And if they do, it is a calculated number (probably based on a % of sales) with no real strategy backing it up. Why? Because every business is different and unique and many of us really don’t understand how […]
If I knew the answer to this question I would play the lottery. But the first step in any sale is understanding your buyer. Who is your buyer? Buyers tend to fall into two main categories…financial and strategic. Understanding the different motivations of these two buyers can be the key to getting a good price […]
Whether your tax situation is complex or simple, preparing your own taxes can be confusing, time-consuming, and downright stressful. The rules are constantly changing. And while we all want to pay the IRS as little as possible, we also need to make sure we’re complying with the latest federal and state regulations. One simple solution […]
Despite repeated warnings from the IRS, taxpayers continue to fall victim to this scam: Criminals claiming to be IRS officials make unsolicited phone calls and demand payment of a bogus tax bill. They con victims into providing personal information and sending cash, usually through a prepaid debit card or wire transfer. Avoid Being Victimized By […]
Control Business Expenses by Negotiating and Bask in a Better Bottom Line Recently I was hired to help “save” a company into prosperity. They had strong sales, but were overspending. So, I encouraged the owner to evaluate every expense with the goal of saving 10%. He was extremely uncomfortable with the process of negotiating for […]
Business colleagues and prospective clients often ask, “Why do I need a coach”? Whether we’re talking sports, education or business, a good coach will: Evaluate your current process and suggest how to make it more efficient and effective Examine your goals Challenge you to think outside the box Push you a little harder Hold […]
Looking to Up Your Game? Hire a Business Coach Every successful sports team and athlete has a coach, includingthose at the top of their game. Super Bowl teams, World Series winners, the top seeds in tennis – all have had coaches to help them get there. And they continue to work with coaches after they’ve […]
Will Your Workers Pass the Independent Contractor vs. Employee Test? Misclassifying workers is becoming commonplace as businesses rely more and more on independent contractors for their staffing needs. In fact, New Jersey Gov. Phil Murphy recently signed an executive order creating the Task Force on Employee Misclassification to recommend strategies for combating the misclassification of […]
Ignore Existing Customers at Your Own Peril Why Your Business Needs a Customer Acquisition AND Retention Strategy I have long argued that customer retention is just as important – if not more important–than customer acquisition. While every business needs new customers to grow, the most reliable source of new revenue comes from the customers who […]