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  Small Business Software you can’t live without   The market for small business software is enormous.  So what is it you really need when it comes to small business software?  Here are 5 very helpful tools for your small business.      Software for Accounting – Keeping track of finances is one of the most important aspects for the success of a small business.  QuickBooks small business software will keep your finances together and well organized.    Office Suite Small Business Software – Programs like Excel, Access, and Word (Microsoft Office products) will keep your small business organized and compatible with the rest of the world.    Anti-Virus Small Business Software – Unfortunately, the Internet and computers you use for your small business are prone to receiving some sort of virus.  Anti-virus software such as Norton or Mcafee is great for protecting against it.    Contact Management Software – This will keep all of your contacts organized so that you can get information quickly and easily.  Select one that is easy to use and compatible with other programs.   Email Application – This small business software will keep all of your emails organized, safe, and received the way you want it.  Programs like Mozilla’s Thunderbird 2 are great and functional.

  Top 5 Reasons Why Your Medical Practice Should Use an Attorney When Choosing a Business Form   If you’re just getting started setting up your medical practice, you may or may not be familiar with some of the more specific business aspects, such as choosing a business form. When establishing a business, there are a number of different forms to choose from. A new business can be a:     ·         Sole Proprietorship – solely owned by one person alone   ·         Partnership – shared ownership between two or three people   ·         Corporation – considered a separate legal entity with its own rights independent of ownership   ·         Limited Liability Company (LLC) – a company where shareholders are not responsible for paying more of the debt than their original investment   While the answer as to which form your medical practice should take may seem obvious, it is strongly recommended by business and insurance experts that you meet with an attorney before making any final arrangements regarding a business model.     The following is a list of the top five reasons why medical practices should consult an attorney before settling on a specific business form:     1.      Liability – this is the most important reason why medical practices, or any new business, should consult with an attorney. The laws vary when it comes to personal liability for business debts based on which business model is in use. Attorneys can help you select a business model and will offer guidance as to which type of professional or general liability insurance will be needed.   2.      Contracts – it’s important that all relationships, including employment agreements, are clearly spelled out to prevent any future lawsuits. A lawyer will ensure that all relationships, between partners, investors, shareholders and employees are clear and legally sound.   3.       Taxes – there are different tax requirements and laws that apply to different business forms. An attorney will provide guidance as to which tax laws apply to your practice and the different tax breaks and requirements depending on the business model.   4.      Control – who do you want to be in control of the medical practice? Do you want to share that control with anyone, and if so, with whom? Different business models exhibit different levels and types of control for investors.   5.      Autonomy – similar to control, who will be making all the decisions and what will they be based on? An attorney will explain to you that different business forms have different decision making protocol that you may not have previously known about.   These are only some of the big reasons. Businesses should typically have an attorney familiar with their field readily available anyway. This is because the laws are ever-changing and an attorney will be able to provide you with sound legal advice.  

It’s no secret that an extensive marketing plan is the bread and butter of any successful business.  If you don’t market your product or service to the public, then nobody will know about it.  However, almost every type of marketing technique and trick has been used up by the overflowing amount of small businesses out in the world today.  Thus, in order to build a successful marketing plan you must develop unique and broad small business marketing ideas.  Here are 5 essential small business marketing ideas to compete in today’s dog eat dog world: Website – Although this isn’t the most unique idea, it is an essential one.  With a majority of the world connected to the Internet, a Website is vital to the success of your company.  Not having a Site up and running to promote your product or service basically tells people that you don’t take your small business seriously, or that you don’t have a quality product or service.  That’s why out of all the small business marketing ideas, this is probably one of the most important ones. Search Engine Marketing – Once your Website is up and running, it’s important to make its presence known throughout the Internet.  Search engine marketing is one way to put your Website toward the top of the list on search engines like Google, and Yahoo.  An SEM firm that you hire will take you through a number of different methods and small business marketing ideas to build more traffic to your Site.  This may and probably will entail optimizing the content on your Site for certain searchable keywords, sending out press releases via PRWeb, writing articles for distribution, and more. Social Networking Sites – Though sites like MySpace may seem like a waste of time when it comes to small business marketing ideas, it is exactly the opposite.  MySpace has made it feasible to easily reach to potential customers across the globe.  Create a profile, search out potential customers, and market away.  Use as many different Websites as you can to drive traffic to your specific Website. Advertisement – Advertising is another obvious way to market your business.  However, developing an advertisement that will actually profit your product is another story.  With millions of advertisements out in the world, how will your stand out from the rest?  Those outside of your business can be very helpful in developing an advertising campaign and other small business marketing ideas.  Advertise on the Internet, papers, and other places in your niche market. Merchandise for Free! – One hit the streets small business marketing idea is free merchandise with your small business logo and Website printed on it.  Hand them out in places where your target market might frequent, give them to your clients, and use them shamelessly to promote your small business.  T-shirt printing has become a cheap way to do this along with pens, coasters, and other cool merchandise.

Software Development Timeline Helps You Develop Software.  One of the biggest roadblocks to completing your software development projects on time is staying on task with the individual pieces. Whether you are creating a brand new piece of software or simply working the bugs out of an automation system, it is important to begin creating timelines for every one of your projects. Having timelines gives you a visual representation of each project component, and will even help your employees and contractors see just how important getting their piece done on time is. Timelines allow you to see potential potholes on the road to success and give you enough warning so you can usually avoid them. Timelines also allow you to communicate more definite dates to your clients and internal supervisors. You can assure them that the projects will be completed on time since it is all laid out and scheduled accordingly.  

An essential part of starting a new business is preparing a small business plan. This effectively summarizes all of the operations and goals of your new organization in a clear, concise manner. Lenders, potential partners, and even the occasional client will want to see your business plan. It’s important to have a well-written business plan on file.   There are seven main parts to an effective business plan.   Executive Summary – a one to two page summary of your business plan.   Company Description – this is where you would put your mission statement and a basic description of what your company is and does.   Product or Service – describe any products and services you will provide and how you intend to do so.   Market Analysis – show why there is a need for your company in the relevant market.   Strategy and Implementation – how will you run your business? Explain how you will secure customers, resources and skilled labor. Then explain how you will implement your company’s goals.   Management Team – who will be in charge? Who will be held responsible? How will accountability and the assignment and completion of duties be managed?   Financial Plan – show and explain all anticipated income sources. How will you generate income and how will you manage expenses. Your financial plan is the most important part of your business plan. Will you be purchasing small business insurance? If yes, what type of business insurance will you need? What other expenses do you anticipate incurring? For more information on how to develop an effective business plan, or for help starting your new business, visit the Small Business Association Website.  

  Managing Scope Changes Effectively Will Help you Perform Better as a Management Consultant   As a management consultant, you have been brought in to help a company or department that is in disarray. You have a plan to get the company out of debt, get processes running smoother and increase employee efficiency. This plan has worked time and time again so you go into the job feeling confident. Things might be humming along great for the first few weeks and then you get an email… “Can we change this?, Can we move this around?” You start to feel panicky because nobody has ever questioned your strategies and management style before and you don’t know what to do.   This is where having some sort of scope change control process would come in handy. Having these procedures in place will ease the burden on you when it comes to making important changes in processes or scope of the project. These charts essentially map out the changes in manpower, resources, time, and money that it will take to successfully accomplish the change, allowing you as a management consultant to rest easier, knowing that those who requested the change are fully aware of the effect it will have on the results of the project.   With this information documented and hopefully signed, you essentially have what amounts to a “new contract” that includes the changes in the scope of the project. You will no longer be responsible for adhering to the old budget, as long as it is documented that you stated that these changes will require more monies, time, etc.  

  Small Business Taxes 101   The world of small business taxes is a complicated one.  Small business taxes that you pay will largely be determined by what type of business you have, and how many people are included in your business.  Therefore, a sole proprietorship would pay a different amount of taxes than LLC, S corporation, or a C corporation.  This applies to both Federal and State income taxes.    Federal Small Business Taxes   Federal small business taxes are complex in nature mostly because there are a variety of ways to tax the income of a small business.  Here is a quick breakdown of the various types of small businesses and what the pay is in Federal taxes.    Sole Proprietors – Sole proprietors pay both a self-employment tax and income tax at the Federal level.  Therefore, they need to fill out a Schedule C and pay 15.3% on all of their net revenue.   Partnership – Partnerships will fill out a Form 1065 and be taxed for both income and self employment.    LLC – LLC’s are a little more complicated.  If there are only one or two members in the LLC then it is possible to tax the limited liability company on a sole proprietor or partnership level.  However, the LLC can also choose to be taxed as a corporation.  Either way, all members of the LLC will pay both self employment tax, which is 15.3%, and income tax.   S Corporation – S corporations are special in that they distribute earnings through their shareholders.  Thus, the shareholders will need to pay an income tax on their earnings.  However, it is possible to avoid any self-employment taxes when operating under an S-corporation.    C Corporation – C corporations are taxed on any distribution to shareholders, and will pay income tax and need fill out a corporate return form for the IRS.     State Small Business Taxes   State taxes vary as each State has their own regulations.  Depending on your business type, and which state your small business resides in, you may pay various rates of income tax.   Additional small business tax resources     IRS Tax Help for Small Businesses   Entrepreneur.com Small Business Tax Center   NFIB Small Business Toolbox  

  Understand Your Client’s Marketing Objectives to Manage Projects Better   As any marketing consultant knows, their clients want the world, they want it now, and they want it cheap. Along with all of this, they expect the best results, whether it is from a magazine ad campaign, or a television or radio campaign. As a marketing consultant, you need to be realistic with your clients. If their budget is small, do not fall victim to nodding your head every time the client makes an outrageous assumption. Nip these outrageous expectations in the bud and make sure that your client is constantly aware of the scope of their project. Both of your budgets will thank you in the end.   Make sure that your client knows exactly what they will be getting with their program. Let them know that based on past projects, they can expect certain things. The important part is to make sure that they are on board with what you plan to deliver and what it will produce for them. Nearly every marketing project fails because of a disconnect between actual value and perceived value. If a client feels like they didn’t get what they paid for, then they will be unhappy when it is all over. Make sure that your client knows exactly what they are getting and what the value will be on the money they spent. If you have this buy-in from the very start, you will have taken a large step towards a successful project, long before the project actually begins.  

Unfortunately, coming up with small business ideas is not the easiest thing in the world to do.  Here are 5 small business ideas to get you started on the path to your own business.    Online Marketer – Online business requires a great deal of marketing.  Online marketing experience is vital to the success of a business Online.  Therefore, people who hire you to successfully market their product or service across the Internet will be pleased with their profits.   Professional Organizer – This is a small business idea that requires organization.  If you have great organizational skills then you might as well put them to use.  Organize people’s personal computers, schedules, and even businesses.  This small business idea is extremely low cost for a start up.    Copywriting Business – Copywriting is a very viable and low cost small business idea.  With the expansion of the Internet, more and more Websites are in need of professionally written content.  This company would offer services that would not only help sell products or services through great content, but would also promote marketing throughout the Internet.    IT Consulting – Internet Technology is an industry that is rapidly changing and growing.  Your IT Consulting company would provide extensive knowledge on networking small businesses, and offer solutions for efficiency.    Adventure Specialist – People are always looking for adventure.  This small business idea would entail you specializing in outdoor adventure, planning adventure trips, and guiding an adventure tour.  Skydiving, rock climbing, mountaineering, or anything adventurous could be involved.  

General liability insurance provides coverage for a range of common risks faced by businesses, but it may not cover all potential liabilities your small business could encounter. Overall, while general liability insurance is an essential component of small business risk management, it’s important to assess your specific risks and insurance needs carefully. Consider consulting with an insurance agent or broker who can help you customize coverage to adequately protect your business. General liability insurance provides coverage for various liabilities that your business may face, including bodily injury, property damage, and advertising injury claims made against your business by third parties. However, it’s important to understand that “complete” coverage is subjective and depends on factors such as the specific terms and conditions of your insurance policy, coverage limits, exclusions, and the nature of the claims made against your business. Here are some key points to consider: General Liability Insurance Coverage : General liability insurance typically covers bodily injury, property damage, and advertising injury claims made against your business by third parties. This can include slip-and-fall accidents at your place of business, damage to someone else’s property caused by your business operations, or claims of false advertising or copyright infringement. General Liability Insurance Limits : Every insurance policy has coverage limits, which may not fully cover all potential liabilities your business could face. It’s essential to review the coverage limits of your policy to ensure they align with your business’s needs and potential risks. General Liability Insurance Exclusions : General liability insurance policies often have exclusions for certain types of claims, such as professional errors or omissions, employee injuries (covered by workers’ compensation insurance), and certain types of intentional acts. You may need additional coverage, such as professional liability insurance or cyber liability insurance, to address these specific risks. General Liability Insurance Industry-specific Risks : Depending on the nature of your business and the industry you operate in, you may face unique risks that are not adequately covered by a general liability policy. For example, if you operate a construction business, you may need additional coverage for equipment damage or construction defects. Legal Requirements: While general liability insurance is not typically required by law for small businesses, certain contracts or agreements with clients or landlords may require you to have coverage. Additionally, some states or local jurisdictions may have specific insurance requirements for certain types of businesses. Risk Management: While insurance provides financial protection, it’s also important to implement risk management strategies to minimize the likelihood of claims and losses. This can include implementing safety protocols, training employees, and maintaining proper documentation of business activities. Many small business owners are confused about the coverage they get from their general liability insurance policy. While this is the most basic of all business insurance policies, there are quite a few things that it will not cover you. It is important to understand what you’re not covered for (commonly referred to as “exclusions”) and take necessary precautions to mitigate the probability of one of these excluded claims arising. The most common exclusion on your general liability insurance policy is claims of professional negligence or errors and omissions. If the damage resulting from negligence on your or your employee’s behalf resulted in non-physical damage, your general liability insurance will not cover the suit. If your employees claim that you treated them unfairly or discriminatively, your general liability insurance will not be able to cover you. This exclusion can be covered by purchasing employers’ practice liability insurance or EPLI. The last major exclusion deals with your subcontractors. Any subcontracted work that you bring through your doors is not covered by your general liability policy. This means that you should get separate coverage for your subcontractors, or ensure that the subcontractors you use are utilizing their coverage policies.