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  • Finding And Keeping Good Employees
    NASE Research Current NASE Survey NASE Member Survey NASE Issue Reports Self Employed Statistics Get Involved Tell your story Become a Media Contact Legislative Action Center Business Help Ask the Experts Taxes Business Strategy Business Law Marketing 101 Finance Accounting Health Care Reform Marketing Advertising Real Estate Information Technology NASE Minute Get Help Tax Healthcare Reform Health Marketing 101 Business Management Marketing Advertising Real Estate Calculators Business Breakeven Analysis Calculator Cash Flow Calculator Equipment Buy vs Lease Investment Annual Rate of Return Calculator Mortgage Mortgage Loan Calculator Retirement Savings and Planning 401 k Calculator How long will my retirement savings last Tax 1040 Tax Calculator Payroll Deductions Calculator Self Employment Tax Calculator Helpful Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory Business Management You know your industry let us help you manage your small business Finding And Keeping Good Employees Articles Transitioning From Employee To Business Owner When the frustration of the daily grind or the thoughts that I could do this and be my own boss start to cross your mind then it is time to sit down and plan how to get from the here of a job to the there of starting your own business Click here for more Business Plans Made Easy Crafting an informal business plan is a simple straightforward way to monitor the health of your business It s a vital tool that will help you diagnose problems cut costs and implement new strategies It also helps you capitalize on the things you re doing right and correct the things you re doing wrong Click here for more Blog Posts Cash Flow The Life Blood of Business Reclassifying Independent Contract Workers As Employees What To Do With Year End Inventory Ask

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/2012/09/04/Finding_And_Keeping_Good_Employees (2016-02-14)
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  • Finding And Keeping Good Employees
    Va recalls his transition working as an association professional to partnering with a colleague to form a new company I never considered myself an entrepreneur That s why partnering with my colleague who has the entrepreneurial spirit hard wired in his DNA was important for me Gone also are the colleagues with whom you could hash out ideas and the reputation of the company you left Two aspects of going out on their own that struck NASE Members as some of the most important to address were marketing and networking Author and NASE Member Skip Press had developed a lot of skills in the corporate world that he found transferrable to the outside world but then realized outside you have to market yourself Web designer Croce found the same thing and was surprised at the amount of marketing that was necessary to get his business going Networking is an invaluable tool when starting out on your own Sichinga found that networks were the key to her success Get involved with your Chamber of Commerce Small Business Development Center and associations affiliated with your business An often overlooked idea in our age of technology that Press finds so important is getting together with people in person especially friends This network is there to help and support you And Press adds Always give back as well An organization such as the NASE is also an important ally when starting out on your own Washington said joining was the best thing she did when deciding to start her business The NASE was able to offer her information from experts in all areas of business development discounts on insurance and other products and opportunities to connect with like minded individuals Sichinga seconds the sentiment The NASE can also provide administrative help that is common in corporate life but not readily available when you are on your own Press says that is something valuable to take advantage of Learning From Being The Boss If you are fortunate enough to start out with employees the transition to being the boss of other people can be difficult Being responsible for the livelihood of others can be stressful but it can also be motivating Washington found it to be a continual learning process so that she could find ways to keep her employees motivated She says Having employees has been motivating It makes me work more to do more for them There are a lot of good books and other resources for learning how to be a good boss and how to motivate employees Take time to read and learn so you can be an effective leader Congratulations on having the courage and fortitude to make the transition from full time employee to boss Don t let others judge you or discourage you especially if they haven t had the courage to do this themselves Starting out may be a slow and scary process and there are sure to be some failures along the way Don t let the failures prevent you from reaching your goals Don t give up With proper planning and a lot of hard work the transition from here to there will be manageable Sallie Hyman writes on small business issues and owns and operates her own small business in Purcellville Va Comment Your name Click to add Email optional Click to add Comment RadEditor HTML WYSIWYG Editor MS Word like content editing experience thanks to a rich set of formatting tools dropdowns dialogs system modules and built in spell check RadEditor s components toolbar content area modes and modules Toolbar s wrapper Content area wrapper RadEditor hidden textarea RadEditor s bottom area Design Html and Preview modes Statistics module and resize handle It contains RadEditor s Modes views HTML Design and Preview Statistics and Resizer Editor Mode buttons Statistics module Editor resizer RadEditor please enable JavaScript to use the rich text editor RadEditor s Modules special tools used to provide extra information such as Tag Inspector Real Time HTML Viewer Tag Properties and other The code you entered is not valid Type the code from the image More NASE Articles More Videos View all NASE news Transitioning From Employee To Business Owner Monday April 01 2013 By Sallie S Hyman When the frustration of the daily grind or the thoughts that I could do this and be my own boss start to cross your mind then it is time to sit down and plan how to get from the here of a job to the there of starting your own business Ready for a Change Employment with a company has solid perks of stable work a fairly routine schedule a steady salary health insurance 401 k plans and other benefits Sometimes however the routine is boring the hours are too long or the possibility of career growth is not there Sometimes we need to follow our passion Take stock as to what is most important to you Do you want more time with your family Do you seek greater professional freedom or advancement Do you want freedom to work when or where you want If you answered yes to any of these questions it might be time for you to start your own business Then you can dedicate your time and energy towards your own priorities Have a Plan Leaving the comfort zone of nine to five and a steady paycheck can be a frightening prospect Taking that leap need not be so scary when you prepare and plan for the change And no doubt there is a lot of planning that should go into transitioning from full time employment to business ownership Many experts recommend freelancing or moonlighting with your business if possible before making the transition This will take careful time management but can give a wealth of information such as market demand for your product or service You can also begin to build up a client base during this time so you are not starting from zero when you leave

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/2013/04/01/transitioning-from-employee-to-business-owner (2016-02-14)
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  • Finding And Keeping Good Employees
    goal setting session Develop a strategy by breaking your goals into actionable steps Outline complicated tasks with informal to do lists Set rough deadlines to help you stay on track Section Two Finances Now it s time to crunch the numbers Begin with a long look at last year s ledger If you re planning to open a new business focus on mapping out the first year including one time expenses such as security deposits Examine your expenses carefully and identify any areas that offer potential savings For example you might be able to renegotiate supplier contracts or interest rates on loans Next determine which of your products or services are most and least profitable This information might lead you to reconsider your offerings Would it make sense to expand diversify or cut back Round out your finance section by predicting your fiscal future While formal business plans typically require a three to five year financial forecast you only need to plan for the next year Nobody in the world knows what their financial projections are going to be three years from now Fairbrother says It s impossible It s better to deal with real numbers and real situations Zoom in on your cash flow by walking through your projected expenses and income month by month A word of warning Be realistic as you set financial goals Chances are your profits will not triple in one year s time Big dreams will serve you well in other areas of your business plan but the finances section is where you want to be conservative and careful Section Three Infrastructure The final section of your business plan concerns infrastructure or operations This category encompasses employees if you have them as well as logistics the systems and processes that form the backbone of your business Search your schedule and the workflow of the business for pockets of inefficiency If you plan to explore new marketing opportunities or other business building strategies you will probably need to allocate or reallocate resources Make sure you have all the tools you need whether it s manpower equipment or other materials Implementing Your Plan Many business owners go through the work of developing a business plan only to file it away in the archives Keep in mind that your plan is a living document that should be revisited often Make adjustments as you go inserting real world figures as they become available and adjusting projections so you re always looking one year ahead Fairbrother recommends spending two to four hours with your plan every month focusing on a different section at each session It doesn t do you any good if you don t look at it and use it as a management tool he says Every month you should be evaluating and re evaluating You have to continually work on it Chipping away at it a little each month not only makes the task more palatable but it also keeps your finger on the pulse of your business Kim O Connor is a freelance writer who frequently writes about best business practices Learn More These NASE resources could come in handy when creating your business plan They re online now and they re free exclusively for NASE Members Poised For Growth Fast Ways To Market Your Startup Change Is Good 4 Tips To Help You Move Your Business In A New Direction How To Sell To Uncle Sam The NASE Can Help With so many types of business plans how do you choose the right one for your new or expanding company The small business consultants at the NASE s Business 101 program offer two free online webinars that can help you decide Business Plans That Work Part 1 Business Plans That Work Part 2 And if you still have questions turn to the NASE business strategy experts These professionals will give you confidential answers to all of your questions about developing and implementing a business plan And remember The webinars as well as access to the NASE business strategy experts are included in the cost of your NASE Membership More NASE Articles More Videos View all NASE news Business Plans Made Easy Friday June 29 2012 How To Develop A Simple Plan That Will Boost Your Business By Kim O Connor Business plans are the term papers of the adult world no one wants to write one While experts stress the importance of planning the very prospect fills most business owners with debilitating dread Little wonder it seems like such a chore Formal business plans often run more than 30 pages and require weeks of hard work But there is good news If you re not trying to woo financial backers you can opt for an informal business plan which offers practical value without all the muss and fuss And having a plan in hand can actually boost your bottom line Crafting an informal business plan is a simple straightforward way to monitor the health of your business It s a vital tool that will help you diagnose problems cut costs and implement new strategies It also helps you capitalize on the things you re doing right and correct the things you re doing wrong Whether you are starting a new business or expanding an existing one this guide is designed to make the planning process as painless as possible It will walk you through writing an informal plan by examining three areas of your business marketing finances and infrastructure Marketing is what brings money in the door says Gene Fairbrother the lead consultant for the NASE s Business 101 program Finances determine how much you get to keep Infrastructure is how you get the job done that is service your customers If you have those three components in place everything else falls in behind them Before You Begin You may find it s helpful to review templates and samples of traditional business plans The U S Small Business Administration and SCORE both offer good

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/2012/06/29/Business_Plans_Made_Easy (2016-02-14)
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  • Cash Flow: The Life Blood of Business
    Business Tuesday May 29 2012 Posted by NASE Business Expert Gene Fairbrother A basic management tool to keep your finger on the pulse of cash flow is a cash position report While every business needs to be producing monthly profit and lost statements along with cash flow statements these reports are monthly pictures while the cash flow report can be created every week or even every day to give you a flash picture of your cash position Start by setting up a spreadsheet on your computer with the following headings Month to date Total Sales Cash On Hand of sales Accounts Receivable of sales Accounts Payable of sales Then every few days enter the respective amounts under the categories Next close your office door turn off the phone get rid of everything on your desk except the numbers and take an honest look at your cash position Are sales decreasing or stagnant Has cash on hand been on a decline Are accounts receivables increasing Are accounts payables increasing If you have any of the above symptoms you have a potential cash flow crunch on the horizon and need to do something now Don t make excuses like blaming the economy because no matter what the reason if you don t find the cure your business is in trouble Marketing Drives Sales If sales are on the decline you need to find ways to drive more money into your business Are you marketing to existing customers Do you know what marketing produces the most results Are you losing customers to the competition Are You Charging Enough Are your prices keeping pace with the costs of doing business Do a little detective work on your competition and find out if your prices are in line with the market demand Cut Out the Fat When times are good most businesses have a tendency to build fluff into their costs of doing business Do you have surplus equipment not being used Are you employee efficient or do you have too many people to serve customer needs Do you need all those telephone lines cell phones or office space Shop for Better Prices Every time you look at an invoice ask yourself When was the last time I checked to see if I could get this product or service at a lower cost Compare prices for general operating expenses every few months Get several quotes on any purchase over 500 Ask about price breaks for buying in quantity Are You Getting What You Paid For Physically check all purchases to be sure it is what you ordered Check invoices for correct prices what was actually received and math errors Never pay from a statement Only from original invoices Don t Let Inventory Get Out of Control If your business has inventories develop specific par quantity levels to keep inventory moving If your inventory exceeds par quantities or you have dead inventory on the shelves decrease upcoming orders or sell the surplus at a discount Pay

    Original URL path: http://selfemployed.nase.org/business-help/get-help/marketing/marketing-blog/self-made/2012/05/29/Cash_Flow_The_Life_Blood_of_Business (2016-02-14)
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  • Reclassifying Independent Contract Workers As Employees?
    the advice and tips you need to grow your business Reclassifying Independent Contract Workers As Employees Friday January 27 2012 Posted by Keith Hall Are the workers in your business Independent Contractors or are they really Employees instead For most of us it is easier to simply call them independent contractors instead of employees because the presumption is that the paperwork is easier No withholding no payroll taxes less hassles The problem is that the classification of your workers is not a matter of choice You can t just choose for them to be independent contractors because it is easier Your worker s classification is determined by the underlying facts and circumstances of the working relationship with the key point being who controls the work product Who tells the worker when to be at work how to do the work who provides the tools to accomplish the work etc This has been a point of contention with the IRS for years and they seem to be increasing their efforts to find those of us who have not been making the appropriate classification If you have inappropriately classified employees as independent contractors and therefore failed to withhold and pay applicable taxes the IRS is most likely looking for you But there is good news The IRS has developed The Voluntary Classification Settlement Program VCSP in order to provide an opportunity for taxpayers to reclassify their workers as employees for employment tax purposes for future tax periods For those of us who weren t aware of the rules this is a great chance to get things right and most likely avoid penalties and interest that might otherwise be due The VCSP is available for taxpayers who want to voluntarily change the prospective classification of their workers The program applies to taxpayers who are currently treating their workers or a class or group of workers as independent contractors or other nonemployees and want to prospectively treat the workers as employees Advantages Taxpayers file an application Form 8952 to start the process With acceptance businesses pay just 10 of the tax computed on favorable rates There are no penalties or interest for misfiling for past years There is also audit protection for past years on workers being reclassified The most confusing part of this issue is exactly who is an independent contractor and how far back can the IRS go if you have made an error The VCSP according to the IRS removes the uncertainty for Federal Employment Tax purposes and potentially limits the exposure from previous years Easy Process Business owners should complete Form 8952 Application for Voluntary Classification Settlement Program and file 60 days prior to treating workers as employees At that point the IRS will review the application and if eligible a closing agreement will be prepared by the IRS Business owners should send payment after the closing agreement is received Eligible businesses Must be currently treating workers as nonemployers Must have filed 1099s for nonemployees Cannot be under audit Can

    Original URL path: http://selfemployed.nase.org/business-help/get-help/marketing/marketing-blog/self-made/2012/01/27/Reclassifying_Independent_Contract_Workers_As_Employees (2016-02-14)
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  • What To Do With Year-End Inventory [Ask The Experts Q & A]
    Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory NASE Marketing Blog Get the advice and tips you need to grow your business What To Do With Year End Inventory Ask The Experts Q A Monday December 05 2011 Q We have a significant quantity of clothing left in our warehouse In prior years we have scrambled to get rid of it at closeout prices because our CPA says this has a tax advantage HOWEVER at what point can we determine we are actually LOSING money by doing this If we hold on to inventory and sell it at full price next year perhaps that s a greater advantage Is there a formula to help us ascertain what to do A I hate to take exception with your accountant but selling inventory at less than you otherwise could simply for tax reasons could never really make much sense If you sell inventory for even 1 less than you could have sold it later you will always be worse off unless the carrying cost of that inventory is greater than 1 That would mean you have debt against the inventory and selling it for 1 less now saves more than 1 in interest costs that would be incurred before you could sell it at its regular price But none of this has anything to do with tax reasons The key point is that giving up 1 in revenue does save money on taxes since obviously you have less in income But giving up the 1 will save you about 30 cents or so in taxes You save 30 cents but lost 1 so you are not better off So if you can sell the inventory at its regular price shortly after the first

    Original URL path: http://selfemployed.nase.org/business-help/get-help/marketing/marketing-blog/self-made/2011/12/05/What_To_Do_With_Year-End_Inventory_Ask_The_Experts_Q_A (2016-02-14)
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  • Is your business in the Cloud?
    Lease Investment Annual Rate of Return Calculator Mortgage Mortgage Loan Calculator Retirement Savings and Planning 401 k Calculator How long will my retirement savings last Tax 1040 Tax Calculator Payroll Deductions Calculator Self Employment Tax Calculator Helpful Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory NASE Marketing Blog Get the advice and tips you need to grow your business Is your business in the Cloud Thursday November 10 2011 Posted by Molly Nelson It may surprise you to know that if you use tools like Gmail Facebook or Twitter for your business you re already in the Cloud The basic concept of the Cloud and cloud computing is that users can store and access information and software on third party servers instead of the actual computer or mobile device in front of them Cloud providers like Amazon Web Services allow users to rent the programs and computing power they need at a given time allowing companies to for example run complex programs scenarios or large datasets on multiple computers for a very small fraction of what it would cost a company to purchase the computers and software needed to perform these functions in house Businessweek has a nice introduction to the Cloud and the various players providing cloud services Also check out Small Business Trends article on why small businesses love or should love the Cloud Speaking of the Cloud Google is now available for businesses and OPEN Forum has tips on changing your Twitter handle without losing your followers Have you used cloud computing services Have services available through the Cloud helped you start your business and or run your business more efficiently Tell us in the comments Comment Your name Click to add Email optional

    Original URL path: http://selfemployed.nase.org/business-help/get-help/marketing/marketing-blog/self-made/2011/11/10/Is_your_business_in_the_Cloud (2016-02-14)
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  • NASE Learning Center - Business Topics - Management Blog Posts
    of sales Accounts Payable of sales Then every few Reclassifying Independent Contract Workers As Employees Friday January 27 2012 Posted by Keith Hall Are the workers in your business Independent Contractors or are they really Employees instead For most of us it is easier to simply call them independent contractors instead of employees because the presumption is that the paperwork is easier No withholding no payroll taxes less hassles The problem is that the classification of your workers is not a matter of choice You can t just choose for them to be independent contractors because it is easier Your worker s classification is determined by the underlying facts and circumstances of the working relationship with the key point being What To Do With Year End Inventory Ask The Experts Q A Monday December 05 2011 Q We have a significant quantity of clothing left in our warehouse In prior years we have scrambled to get rid of it at closeout prices because our CPA says this has a tax advantage HOWEVER at what point can we determine we are actually LOSING money by doing this If we hold on to inventory and sell it at full price next year perhaps that s a greater advantage Is there a formula to help us ascertain what to do A I hate to take exception with your accountant but selling inventory at less than you otherwise could simply for Is your business in the Cloud Thursday November 10 2011 Posted by Molly Nelson It may surprise you to know that if you use tools like Gmail Facebook or Twitter for your business you re already in the Cloud The basic concept of the Cloud and cloud computing is that users can store and access information and software on third party servers instead of the actual computer or mobile device in front of them Cloud providers like Amazon Web Services allow users to rent the programs and computing power they need at a given time allowing companies to for example run complex programs scenarios or large datasets on multiple Family Employee Under 15 Ask The Experts Q A Monday November 07 2011 Q I have following questions regarding a family employee child who is under 15 yrs What s the best method of payment direct deposit payroll or checks or cash Can we claim him as DEPENDENT for tax purposes if the annual income paid is under the limit 4 750 applicable for year 2011 For our LLC we have been filing tax returns as a sole proprietor along with individual tax returns Do we have to file additional form for child income A The new employee your child should be treated basically the same as any other non related employee even though there are certainly some differences How Do I Account For Gratuities In My Payroll Ask The Experts Q A Tuesday September 13 2011 Q We own a small restaurant and I am unsure how to account for tips which the

    Original URL path: http://selfemployed.nase.org/business-help/get-help/business-management/business-management-blog (2016-02-14)
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