Category Archives: Small Business Planning

Reverse Mentoring: Moving Seasoned, Younger Workers into High Gear

Reverse-mentoring isn’t a new concept, nor is it widespread, though many companies could benefit from such a program. Pioneered at General Electric some two decades ago, the basic concept is that younger employees have a lot to teach older ones about work-related matters. In some corners of the business world, the idea is broadened to encompass […]

Genetic Nondiscrimination Law Affects Many Work Practices

Take steps now to avoid running afoul of the Genetic Information Nondiscrimination Act(GINA), which prohibits discrimination in health coverage and employment on the basis of genetic information. Title II addresses discrimination in employment, and prohibits employers from acquiring genetic information about employees, and from using genetic information for hiring, firing or promotion decisions, and for any decisions […]

Is Your Company Facing a Cash Flow Crunch?

Cash flow is always an important element in the smooth and successful operation of your business and is particularly key in meeting opportunities and demands. Generating sales and managing operations are, of course, also important, but ensuring that that cash from those sales is collected and that your company’s daily cash flow needs are managed efficiently and […]

The Six Stages of World-Class Customer Service

Customer loyalty may seem like a myth from the distant past. In these days of intense competition — both from brick-and-mortar businesses and e-commerce operations — a company either provides quality customer service or pays the price of failure. That’s simply because today’s customers demand it. If they don’t get the service they want from you, they know […]

Broaden Your Sales Circle with 4 Simple Steps

If you’re like most sales professionals, you probably spend much of the day keeping your existing customers happy. Because there often isn’t not much time left to drum up new business, it’s essential to make the most of your precious networking hours – or even minutes. Fortunately, you probably attend community functions where you rub elbows with […]

Benefit Plan Update

By Ryan Taylor

As the 2018 year gets underway, I wanted to provide you a reminder in regards to your entities 401(k) pension plan. For those that have calendar year plans, now is the time that you or your third party administrator (TPA) will be conducting compliance testing on the 2017 activity. This is a very important step […]

Take a Last Resort Stand on Layoffs

At the first sign of a southbound economy some companies rush into panic mode. They slash the staff and hope for the best. Certainly, labor is the biggest expense for most businesses, which is why many managers believe there is no faster, more efficient way to improve the bottom line than by cutting staff. But when […]

The Benefits of Leasing

If your company wants to improve cash flow, you might consider leasing equipment, vehicles and facilities, rather than buying. The primary advantage of leasing used to be the tax advantages. But the fact that leasing allows you to conserve cash makes it a form of financing. It’s not an alternative that works for every company so you […]

HR with Tightened Purse Strings Can Still Meet Challenges

Human resources (HR) departments face some complicated and unique challenges during difficult economic times. For example, a business facing financial cutbacks may decide to cut the benefits budget in HR, and then require the department to motivate employees who are feeling the results of those budget reductions. Such a challenge may seem impossible to meet, but […]

Use Business Intelligence to Make Profitable Decisions

As the saying goes, “knowledge is power.” To derive valuable knowledge from your company’s operating data requires the development of an effective business intelligence (BI) program. Simply put, BI is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, managers and others make more informed decisions. For example, if you’re clear […]