Have you ever lost employees because they did not understand your company culture?

I have listed some ideas below that will help you get your new team members on board and moving in the right direction.

1. Friendly Welcome: Thank them for joining your team or company. Be sure they feel valued from day one!

2. HR Items: Cover HR policies, vacation policies, sick days, hours of work, pay periods, holiday pay, pension, medical benefits, lateness, safety rules, any unique company policies, etc.

3. Meet Their Manager: Have the new employee meet with their manager to get a clear understanding of expectations, goals, training, expected work ethic and teamwork. Make the bottom line objectives of the organization clear to the new employee. Share how other employees have had immediate success and explain / outline opportunities for promotion.

Make sure open communication is established. Make it a co-active process and get their feedback. Discover what drives and motivates them! Let them know you will be there to help coach them to success.

5. Training: Set out a clear training plan that will include hands on activities and background on the overall market as well as the competition. In addition to the formal training, place them with an experienced employee that they can shadow for a period of time.

6. Introduce To The Team: Consider taking your new team member to lunch with the entire team. Do something memorable that welcomes them and makes them feel connected to their new team members.

Are you thinking about starting your own business? Do you have an idea for a new business but are unsure about how to proceed? If you have answered yes to either of these questions, this article could be of benefit to you. I am going to write about how to plan and create a successful small business.

Many people are looking at ways in which they can become self-employed. Leaving a full time career can be quite a scary prospect however for some. The security of having a regular income and other benefits such as a pension can seem hard to let go.

Before you invest a single dollar, talk to a few experts. Go to the library (ok, maybe no one does that anymore ) or get on the internet and research. Take ample time to make sure entrepreneurship is right for you. Be sure you have support along the process. Hire a small business coach or seek out mentors.

1. Conduct a feasibility study of your business. Describe your typical customer, your product and your competitors. Who will your suppliers be? What will you charge for your product? How will you market your product? These are just a few of the questions you need to answer.

2. Write a business plan for your company, using the information you gathered from your feasibility study. This step needs to include a description of your company, its goals, competitors, market, financial information, and of course, how you intend to meet your goals.

3. Get your financing in place. You will now need to work out how much money you will need to set up the business. This can be quite daunting but it is essential. In the short term, I would advise to keep these start up costs as low as possible. Once you are aware of how much money you need, you then have to find it! You may have enough yourself via savings, however most people are not in this position. If you do not have enough money, you could try and raise money via the family, by seeking a partner, bank loans, by releasing the equity from your house, or personal credit cards. If you need credit, know your business plan from front to back!

4. Decide what kind of legal structure your company will have. Examples: sole proprietorship, llc, inc. Contact your accountant to learn what is right for you.

5. Choose a name for your company and check on name availability. Naming your company is highly individual, but it’s the first thing associated with your business, so choose your name carefully. I would keep this name quite short as it makes it easier to remember for people. It obviously needs to have something to do with the business sector you are entering. Important Note: Keep in mind SEO when determinng your business name. This is important as your business name will likely be a part of, or all of your url. Your url has a significant impact on SEO.

6. Develop the marketing materials and actions you decided on in your business plan. They should include at least a press kit and most importantly a website. Also, don’t forget business cards and letterhead. A press kit can include letters of introduction, biography sheets, press releases, articles and a brochure. In today’s electronic age, printed materials aren’t enough.(how much are they worth these days?)  You need a great website that looks professional, matches your printed material and has great copy. You’ll also want to make sure it’s optimized for search engines! Hire a web developer who understands sales, internet marketing and SEO. Also, there are many ways of marketing your business. Consider hiring a sales coach or a business coach who can help you put together a great plan.

7. Set up your business bank account and record-keeping system. Your banker will need to see your incorporation documents, and you should probably set up more than one account so you can keep track of your finances better. Record-keeping is required, and can be done manually or with a computer program. There are many on-line options out there.

8. Consider if you need to purchase insurance. There are many different types of insurance and your business will probably need at least one type.

9. Decide where your business will be located. Lease your space. Alternatively, you could choose to start your business from home if it’s feasible. There are advantages and disadvantages to starting your business from home.  It all depends on the type of business you are operating.

10. Purchase supplies and office equipment. I could make a long list for you, but just get what you need. Keep it simple and control your costs. Get an all-in-one fax machine, printer, copier.

This list will help you to begin the journey of starting your own business. It is essential to have the sales skills and business support to put things into action. If you have a dream, I would encourage you to go for it! Becoming an entrepreneur can be one of the most rewarding things you can experience in life.

An ideal attorney will not just have a set of impressive credentials. He or she should be caring, concerned, and devoted to their work. You need to think carefully before putting your trust in an attorney…after all in some cases your life, future, money or property will be in his hands.

Apart from doing extensive research to short-list possible attorneys, you must ensure that there is not conflict of interest, that you understand everything the retainer agreement states, and that you have checked the references and details regarding the practice.

Here is how to know the attorney you have chosen is a good fit and can help you with your tax goals:

1. He makes an effort to spend time to understand your case himself. He will not assign a legal assistant to take facts of the case down.

2. He will not just focus on the problem at hand but examine the problem from all sides. This will create a complete picture highlighting all factors of relevance and the different ways one can approach the case.

3. He will be self-disciplined, thorough, and self confident. Courteous at all times he will respect you as well as all the staff who work for him.

4. He is recommended by not just his friends and relatives but by other professionals of good standing and from his field.

5. He will not just present to you his victories but be happy to tell you why and how he lost certain cases.

The bottom line is that the attorney must be worthy of your trust. Use and trust your intuition.

Everyone worries about taxes and looks for ways of reducing the tax burden. When you have a small business of your own, you must update your knowledge of tax laws that pertain to “small businesses.” As a business owner, you must understand clearly about accounting systems and tax planning. Sit down with your accountant and plan on ways of maintaining business expenses, filing receipts, planning on “tax saving” investments, and a strategy for running the business in the most beneficial way.

Did you know that:

1. According to law you can reduce your tax liability by hiring family members to carry out work in your business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.

2. Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRS’s criteria.

3. Think about “deferring income” postpones receiving money to January instead of December. This means that payments received will be up for “tax” calculations a year away. However ask your accountant’s advice as the benefits are dependent on profit and losses for the year and your corporate legal structure.

4. Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.

5. Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.

6. Include expenses of business related travel in the current year.

7. Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the business can be included for accounting and applicable tax waivers.

8. Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.

9. Be sure to deduct from your taxable income money paid to licensing fees, businesses taxes, and annual memberships to businesses related organizations. Be sure to deduct interest paid on borrowings for running the business and related fees. Insurance premiums paid to insure the business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.

10. Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment. Decide whether a cash accounting system or accrual one will benefit your business. The tax deductions are different depending on the system you use. When setting up your small business take the advice of a tax and accounting professional as to which accounting system would be most suitable.

*Be sure to consult with your attorney, financial advisor, or accountant to determine what is right for your small business.