Archive for April, 2012

Show us your business cards!

By | April 30, 2012 | Micro Business Issues | 3 Comments

Earlier today, we asked our Facebook community to show off their business cards. In a few short hours, we had over 80 great submissions. Some of our favorites were:

Click here to see all of the submitted designs.

If you would like to have your business card showcased in the gallery, click here and upload yours.

MBR: Beefing up your listening, product launches and adding business value

By | April 27, 2012 | Micro Business Roundup | No comments

Hey everyone, this week seemed to fly by in our offices. Hopefully your week was productive. We’ve pulled together five great articles for this week’s edition of the Micro Business Roundup that we’re sure you’ll enjoy. Have a great weekend and we look forward to connecting next week.

5 ways more effective marketing makes your business worth more – everyone knows that marketing is valuable for acquiring new customers and generating awareness for business of all sizes. What many people don’t know is that marketing can also lead to an increase in valuation of a business. Check out this article if you have ever considered or are looking to sell your business.

A DIY Guide to Product Launches – this article in Entrepreneur talks outlines how businesses can leverage social media to generate buzz for new product launches. If you are launching a product, make sure you check this one out.

Is my family business going to be an orphan? –  Earlier this year we posted on planning for your retirement. That post discussed ways of saving for the day that you step out of the workforce, this article talks about building a succession for your business.

Build your listening muscle – Chances are that you are constantly looking for ways to improve your business. This can be anything from trying new marketing tactics or staying abreast of the latest industry news. One area that is often over looked is improving listening. This article offers some good insight as to why listening may be the key to growing your business.

Is your website missing the #1 most used feature? – Take a look at this article to see if you are missing this feature.

Describe your small business management style in one word

By | April 26, 2012 | Micro Business Tips Thursday | 1 Comment

Earlier today we asked our Facebook community to describe their business management style in one word. Below is a word cloud of the responses:

How would you describe your business management style?

Pop Goes the Small Business

By | April 25, 2012 | Micro Business Insight | No comments

Pop-up stores are, well, popping up everywhere these days — from the uber-hip Warby Parker store in New York’s SoHo neighborhood to springtime flower shops that host local florists at West Elm. These shops are moving in (temporarily) to neighborhoods across the country. Even the NFL has gotten into the game, with a strategically placed shop located just a few blocks away from the 2012 NFL Draft at Radio City Music Hall.  These are just a few of the many recent pop-ups from brands big and small that we’ve noticed, but this trend is nothing new, and it’s certainly not slowing down anytime soon.

So what, exactly, are pop-ups all about, and is one right for you and your small business? The answer might surprise you.

A pop-up store is a retail location that does just that — springs up, exists for a short period of time, hopefully creates all sorts of buzz, and then disappears. Pop-ups of all shapes and sizes have been around for years (think: local Halloween stores that would sprout up in the fall).  There are also businesses that specialize in the pop-up market, like Vacant, which according to their site, helps find real estate opportunities for pop-ups, as well as design, construct and staff the space once it’s secured. But the lagging economy can also take some credit for the surge in these temporary storefronts, as some landlords, stuck trying to fill now long-empty storefronts and lack of interested new tenants, have been more lenient with their leasing.

But what does a pop-up store have to do with you? If you’re a small business owner, a temporary storefront might be a smart option to consider. Think about…

Seasonal Timing: If your business relies heavily on a particular time of year to thrive (a makeup artist during prom and wedding season, for instance) you might want to consider capitalizing on that by opening up a seasonally timed pop-up.

Commitment: If you’ve ever wanted to own a storefront, or are hoping to expand to a brand-new neighborhood, but are wary of a long-term lease, a pop-up might be a great toe-in-the-water solution for both of those scenarios.

New Products: If you’re working on a new product, utilizing a pop-up can be an innovative way to try out your fresh ideas on potential customers.

New Market: Exposing your small business in the short-term to a new market might mean big returns in the long-run.

Buzz: A great way to drum up buzz might be by opening up a pop-up, where you’ll be guaranteed at least a bit of local interest.

Prime Technology: As this Inc. article mentions, the advent of mobile technology has made it easier than ever for businesses to temporarily set up shop. “Tablets have become a weapon of choice because they let you use mobile point-of-sale systems. No need for a traditional cash register if you’re willing to take only credit and debit cards,” it reads. “This is opportunistic marketing at its best.”

These are just a few reasons pop-ups might work for your small business. But keep in mind: There is almost always risk with a new business initiative, so be sure to do your due diligence before committing to even a short-term lease.

Image: Bleacher Report

The Differences Between a Corporation and an LLC

By | April 23, 2012 | Micro Business Issues | 1 Comment
The Differences Between a Corporation and an LLC

This guest blog is brought to you courtesy of The Company Corporation.

Business owners may choose from a variety of company structures, based on their needs and preferences, and with the advent of the Limited Liability Company (LLC), the choices for small businesses are wider and better than ever before. Therefore, it is important for small business owners to consider and understand the advantages of both a corporation and an LLC when forming a new company. Selecting the right structure can help you maximize your chances for success.

So, what is a corporation? A general corporation, also known as a “C” corporation, is the most common corporate structure. A general corporation may have an unlimited number of stockholders and it provides limited liability for directors, officers, shareholders and employees.  Also, corporations provide perpetual existence, even if the owners leave the company. There may be certain tax advantages like tax deductible expenses when forming a corporation.

Another option for business owners that has become very popular is to form a Limited Liability Company (LLC).  The LLC is not a corporation, but it offers many of the same advantages. Many small business owners and entrepreneurs prefer LLCs because they combine the limited liability protection of a corporation with the “pass through”" taxation of a sole proprietorship or partnership.

To help make it a little easier to compare a corporation to an LLC, the chart below gives a snapshot of the advantages and disadvantages of both:

Advantages of an LLC Advantages of a Corporation
  • no limit on the number of owners
  • profit and loss are passed through to the owners’ individual tax returns
  • no annual meeting or minute book requirements
  • may issue shares of stock to attract investors
  • corporate income splitting may help lower overall tax liability
Disadvantages of an LLC Disadvantages of a Corporation
  • cannot engage in corporate income splitting to lower tax liability
  • cannot issue stock
  • double taxation of corporate profits and shareholder dividends
  • must hold annual meetings and record minutes
  • S Corporations have restrictions on number of owners

Every business is unique with different needs.  The legal structure that works best for your neighbor’s business may not be the best for yours.  Take the time to understand the difference in legal structures before you incorporate your business.

Join The Company Corporation for a complimentary webinar on Thursday, May 3rd, 2012 at 12:00 PM Eastern Time to learn more about incorporating your business.

Image: Victor1558

MBR: Small business “profile,” USPS closings and tax cuts

By | April 20, 2012 | Micro Business Roundup | No comments

Because this is an election year, it seems that small businesses are being talked about more and more. Small businesses as a whole are a very easy, convenient and simple group for campaigning politicians to talk about. For the most part, doing something to help the group is bipartisan, and likely to be embraced by everyone. No one wants to see their local small businesses fail, after all. They’re the lifeblood of any local community. This week’s roundup focuses on the new tax cut aimed at the small business market, but more importantly, whether or not it’s likely going to affect ACTUAL small businesses. Another story examines how local post offices closing could negatively impact local small businesses.

Small business tax cut clears House: Not surprisingly, the Republican controlled House of Representatives passed a $46 billion tax cut that would be designed to encourage economic growth by “providing relief to struggling small-business owners.” Led by House Majority Leader Eric Cantor (R-Va.), the tax break would allow companies with less than 500 employees to take a tax deduction of 20 percent of their business income.

Majority of Small Businesses don’t “fit the profile”: In this story by Tamara Keith (no relation), she examines how the proposed tax break would affect the majority of small businesses, which have far less than the 500 employees as defined by the Small Business Administration. For Seattle small-business owner Makini Howell, the the bill wouldn’t help at all, according to the piece. It might end up being a few hundred dollars in savings, which certainly isn’t enough to hire employees or meaningfully expand her business. So while the legislation sounds good on paper, in the real world it will do little to help the 20 million plus sole proprietors in the U.S.

Do Small Businesses Create Jobs?: Another good question, again related to the small business legislation, is asked by Bruce Bartlett in the New York Times. In the story he outlines Congress’ interest in the small business market as a potential job creating engine, but how a new study from the Bureau of Labor Statistics found that over the last 10 years new companies have tended to be smaller and stay smaller than those in the past. That same report found that the number of new establishments has fallen sharply since 2006. Bartlett contends that at the end of the day, “across-the-board tax cut for every small business, defined only in terms of employment, is nothing but an election-year giveaway unlikely to create any jobs whatsoever.”

USPS closings could impact small business owners: Few government agencies have been under more scrutiny over the past decade than the US Postal Service, which barring Congress stepping in, will close 250 locations on May 15. Many small businesses rely heavily on the local post office to do business, including to ship and receive packages, supplies and bills. With limited services in certain areas, it could hamper their day to day operations and ultimately make it harder to succeed.

Small Business Green Tip: Use Waste as Mulch

By | April 19, 2012 | Micro Business Tips Thursday | No comments

In this week’s edition of Micro Business Tips Thursday, we tapped the Vistaprint Facebook community for their top green tip for their business.

This week’s top answer came from Brandon Lee Fiscus, who finds ways to be green inside and outside of the office:

“My way of being green with my small business is that I use my Square to take payments. Which allows for a receipt to be sent either through email or text message. This is convenient and green with no receipt paper needed or power to be used for the printer. Another way I stay green with my business is that I use all my shredded paper work and files as mulch in my garden at home. Every little helps.”

Do you email receipts instead of printing or have you used shredded paper as mulch in your garden?

We’d love to hear your tip in the comments below.

Be sure to check our Facebook page next Thursday for your chance to be featured in Micro Business Tips Thursday. 

Eight Tips on How to be a Greener Micro Business

By | April 18, 2012 | How To, Micro Business Issues | No comments

Even though micro businesses are small in size, they can still have a big impact when it comes to conserving energy. With Earth Day around the corner (Sunday, April 22), it’s time to think about how small businesses can do their part to be more Green and reduce energy consumption.  Here are a few quick and easy things to start doing today that will have an impact tomorrow:

  1. Don’t print — resist the temptation to print emails! Instead, create folders within your email, to file important messages. Use this suggestion as an incentive to create folders you will actually use.
  2. If you must print, consider printing double sided. Set your printer features to print double-sided automatically and you won’t have to think twice about it. At least you will be using the whole page to print.
  3. It’s so easy, but people often forget: Turn off your computer and printer at the end of the day! You’re not there, so why would your computer need to be ready to work? If you’re thinking, “My computer takes too long to start up in the morning,” use the time to get a cup of coffee or listen to voicemail.
  4. Use those promotional notebooks you pick up at tradeshows and get from vendors. So what if they are not your logo or your vendor, they are perfect for jotting down notes and just think it is one less notebook you had to buy.
  5. Consider giving employees reusable water bottles as gifts. That way you can reduce the number of cups you use and throw away.
  6. Re- use boxes you receive your goods in and re-purpose them to send shipments to customers. Purchasing shipping boxes can be expensive and why not use the ones lying around your office.
  7. Open the blinds! Let the sunshine in, on those sunny days turn off the lights. Natural light will improve your mood and save you a few dollars that day on the electrical bill. Leaving a light on is just like throwing away energy.
  8. Unplug your phone charger. Phone chargers and other power adapters continue to draw power even if they’re not being used. It’s called “phantom power” – and believe it or not, it adds up to 5% of our nation’s power bill!

Want to learn more? A few weeks back in our Micro Business Roundup we included an article from Rhonda Adams of USA Today that includes more tips on how your small business can save energy and be green. The Department of Energy also has extensive resources online and information to consider as you look to make an impact this Earth Day!

Image: Clip art

Top Three Tips for Building an E-mail List

By | April 16, 2012 | Micro Business Tips | No comments

01 (65)Growing an email list can seem like a daunting task, especially when you’re starting from scratch. But there’s good news: It’s easier than you might think! Here, we highlight three quick tips that can get you started.

1. Make It Useful
One way to ensure customers will want to be a part of your email communications list? Let them know they’ll be getting exclusive content. Whether it’s a new deal, special announcement, helpful article, or an e-calendar with seasonal updates, providing your customers with valuable, must-read content builds your email list and your relationship with them.

2.Use Your Site
If you have a website, it’s the perfect place to gather email addresses. Something as simple as a sign-up spot asking visitors to join can work wonders.

3. Spread the Word
If you interact with your customers, which we’re assuming most of you do, let them know all about the benefits that come from joining your email list, any time you can. Whether it’s through a quick shout out on a direct mail piece, by having a guest book at your retail location where patrons can sign up, or just by including a mention after an order, simply asking for an email address is a great way to grow your list.

Hopefully these three tips can help get your email list started! Do you have any tips you want to share? Let us know in the comments section!

Image: Victor1558

MBR: Small business confidence drops, again

By | April 13, 2012 | Micro Business Roundup | No comments

In this week’s roundup we hit a number of topics, including one of the most obvious, tax season. If you haven’t started thinking about your small business tax return, then now is the time. We also found some interesting stories to share on the ins and outs of Twitter, why SMAP email is still a big problem for small businesses, and how “tax friendly” states doesn’t necessarily mean small business growth.

Twitter terms, for the uninitiated:
Heather Clancy writes a piece for ZDNet that examines the basics of Twitter, and we mean the basics. She covers the various Twitter terms and what they mean, as well as offers advice on how to engage on Twitter, build your following and share your content. For anyone who has no idea what Twitter is but wants to find out, this is the story for you.

Last minute tax tips:
As we mentioned, if you haven’t yet thought about your tax return, this week is the week. Included in this story by the Christian Science Monitor is a number of last minute tax tips you might not have thought of, including making a contribution to a retirement plan prior to the deadline of April 17. (hint: if you file for an extension, you also get an extension on your contribution date)

Small Business Confidence drops:
Confidence is a fragile thing, and it goes up and down a lot in the small business community. According to the National Federation of Independent Businesses, confidence fell 1.8 points to 92.5 for March. Nine of the 10 indicators the federation tracks dropped, with businesses showing less confidence about everything from credit conditions to hiring plans.

SPAM email is still a problem:
According to a recent survey of small and midsize companies done by GFI Software, evidence of SPAM email continues to mount. The report stated that 52 percent of respondents are getting more spam this year.  Not surprisingly, 72 percent said that they get too much spam and 70 percent claim their current anti-spam solutions are not working. What this means for small businesses is as they compete with larger companies for share of inbox, more and more clutter is being deleted, rather than consumed and acted on.

Tax friendly states don’t necessarily attract small businesses:
In this very interesting piece by Businessweek columnist Scott Shane, he points out that “even when a state has the most favorable tax policies for a particular type of business, the policy does little to influence where people start companies.” Shane argues that despite some states having tax friendly policies, very few people actually relocate in order to start their businesses in a friendlier business climate. Rather, they make do with the one they have.  He cites that less than 0.5 percent of Americans both change states and start businesses annually, according to Small Business Administration research.

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