Capital vs. Operating Lease: Tax Reporting Implications
We often encounter taxpayers who do not quite fully understand how to report for income tax purposes the lease agreements they have entered into for business use assets, particularly automobiles. Leased property includes real estate, machinery, and other items that a taxpayer uses in his or her business and does not own. Payments for the…
Read More7 Creative Ways to Make Your Storefront Stand Out
Physical stores have seen rising competition from online brands, but they still have some serious advantages, including the ability to generate foot traffic. However, to succeed in drawing in foot traffic, stores have to go out of their way to stand out from the competition. The best way to do this is to come up…
Read More10 Ways to Prepare for Competitors You Don’t See Yet
When you are starting a business with an exciting new idea, it’s easy to dismiss potential competitors as not being in the same space, or too fat, dumb, and happy to be concerned that you even exist. I hear it all the time as an angel investor, but I also see that same naïve or…
Read More3 Ways to Beat Your Competition (with No Cash, Customers or Connections)
As a new startup, how do you beat your competition and dominate your industry? When Steve Jobs threatened to kill Dropbox with iCloud, the founder and CEO of the digital storage service Drew Houston resisted the belligerent leader with his passion and strong vision for his idea. Just imagine how disappointed you’d be to get…
Read MoreBest Credit Card Processing for Your Small Business in 2017
Businesses that only accept cash tend to miss out on many sales opportunities. Choosing to accept credit cards at your small business is an important decision you should make, as it will help you bring in more revenue in the long run. As for finding the right credit card processer, that tends to be the…
Read MoreGreatly Exceed Early Customer Expectations
First customers are critical. Greatly exceed expectations at all costs. There is so much history behind this insight, and so many stories that illustrate this point. Your first customers for any product or service form your reference base, the important group of allies that your marketing and sales people rely upon when attempting to create buzz…
Read MoreDon’t Let a Dated Website Block Your Company’s Potential
Developing a business takes courage and dedication. It moves an entrepreneur from a dreamer into a doer. While there are many paths to launching and growing a successful business, most of those paths include an effective web presence. At the very least, this means having a website where customers and potential partners can learn about…
Read More3 Tips for Improving Workflow with Business Process Management Software
Business process management software offers an excellent solution to the ever-growing problem of data. Your company collects, stores and uses new data every day, in each department. With BPM, you have a ready-to-use solution to help streamline efficiency in using this data. In other words—your BPM software should help you improve business protocol. All of…
Read MoreWhat to Do When Franchising Isn’t the Right Fit for Your Business
As a franchise lawyer, I see the incredible value for business owners to take a proven business model and rapidly expand through franchising. It also builds in revenue streams and places dedicated individuals at the helm of each individual franchise unit. Yet, despite the benefits, franchising isn’t a fit for every business model out there. Additionally,…
Read MoreWhat’s Your One Goal for Each Person on Your Team?
Too often, as managers, if we do coach, our coaching is ineffective. One of the key reasons is that we are unfocused on what we are trying to achieve with each person. What happens is that we see skills that need to be developed, new habits that need to be solidified, behaviors we need to…
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