As your business grows, so too does your payroll. Hiring can be one of the biggest struggles for growing business. The amount of time, money, and other resources needed to find, vet, hire, and train new employees are overwhelming. And, when these new employees don’t work out, you find yourself in an even bigger hole than before. Therefore, many successful businesses are turning to short-term contractors, or freelancers, to alleviate some of the bandwidth struggles they are experiencing. Using a freelancer can make sense if you want to mitigate the risks of new hires. Freelancers are cost-effective, specialized, [...]
In high school, when my friends and I would go to a restaurant, we'd give our name to the hostess as Papa. We'd clutch our stomachs with laughter when it was our turn to be seated and the hostess called out Papa-party of 5, your table is ready! Well, guess what? As a freelancer, you're a pa-pa-party of 1 and that means everything in your business falls on you. Your brand image, your sales, your work product, your marketing message. You're it! In order to find new business and generate leads, you've got to put yourself out there. [...]
At some point, growing businesses need more hands on-deck. But that doesn’t necessarily mean you have to invest the money to hire full-time employees—yet. Before you hire full-time employees, there are other staffing options you can explore. Bring on Extra Help With Our Six Flexible Staffing Options 1. Family and Friends Starting a business requires long hours and time away from family and friends. You can avoid the separation issue (and create new bonds) by hiring family and friends to help run your business. Family businesses account for 64 percent of the U.S. gross domestic product and create [...]
Small business owners wear many hats when running daily operations - especially when they are just starting to build their company. Their tasks include administrative work, client servicing, finance requirements and more. One of the most tedious tasks of running a business is taking care of HR requirements. Unfortunately, your HR responsibilities don’t end when an applicant signs the employment contract. This part of the business plays an important role in keeping the company running smoothly on a daily basis. However, small businesses don’t always have the luxury of hiring a dedicated team member to focus on these [...]
Some studies estimate that the cost of hiring someone is approximately six to nine months’ of their salary. An employee making on average $40,000 might cost $20,000 or more to find if you factor in the time to recruit, screen, hire and train new employees. With so much on the line for finding a great candidate, it’s critically important to do your best to screen potential employees as rigorously as possible. Weeding out those who aren’t qualified is easy, but screening the final group for the star performer in the mix is difficult. These three filters to add [...]
There are plenty of books about time management. But, as a startup business owner, chances are you're too busy to read them. Am I right? No worries, here are five quick tips to help you get a grip.
New Year, New Press! Nellie has been busy starting the year off with some fantastic opportunities to educate entrepreneurs on and offline about starting a business.
Taxes may be the last thing you want to think about as a freelancer, but they’re still really important to pay attention to. Looking back, did you maximize your business expenses and keep your accounts in order? If not, there’s still time to set yourself up for success come tax time next year.
November was a big month for Nellie! Here, check out her interviews and blog posts on being a woman entrepreneur, marketing your business, changing from a sole proprietorship to an LLC, and much more.
This week, Nellie Akalp is talking about establishing yourself as a thought leader, how to get people to return your calls, and what freelancers need to know about liability. Enjoy!
Someone once told me that a true sign of a successful entrepreneur is the ability to know when it’s time to throw in the towel and move on. One failed business doesn’t define an entrepreneur. Plus, when one door closes, another usually opens. Closing a business doesn’t just mean selling your assets and calling it a day. You’ve got to go through the requisite steps to ensure your business is legally closed and that you’ve properly wound up your business affairs. Otherwise, you could be personally responsible for filing annual reports, filing state/federal tax returns, and maintaining miscellaneous [...]
If you are launching a business, you have probably heard the horror stories of business failure after business failure. Listen to some of the naysayers and you’ll start believing that 90% of new businesses are destined to fail. However, the reality is much brighter: according to the U.S. Bureau of Labor, 75% of new businesses survive the first year, 69% survive the first two years, and 50% make it to five years. Granted, a 50-50 chance of surviving to year five may not sound that great, but you don’t have to sit back and let chance dictate your [...]
For many people, working alone from home is a dream come true. There’s no commute to work. No downtown parking to pay for. No office drama. But what happens when you’re an extrovert who thrives in an office community who is more productive when there are other people around? If you’ve come up against obstacles when working alone from home due to your social nature, take these tips to heart. Build Your (Virtual) Community Just because you’re working from home doesn’t mean you have to work alone. If you have employees or freelancers that you work with, consider [...]
If you’re at the start of your entrepreneurial journey, congratulations. You’ve got a lot of exciting times ahead of you, as well as a lot of lessons to learn. Let me help you get started on the right foot with some advice I’ve learned on my own path to small business ownership.
Our CEO, Nellie Akalp, has been busy sharing her advice with soon-to-be entrepreneurs! She's given tips on keeping a business compliant, boosting your bottom line, and incorporating for freelancers. Take a look:
As you grow your business, you will inevitably need to hire help. If you’ve never been an employer before, there are certain pitfalls you need to avoid that many business owners make. Here’s your guide to what not to do in hiring staff.
When you first start your business, whether you are set up as a sole proprietorship, partnership, a corporation, or a Limited Liability Company (LLC), you may take on all the work yourself. After all, you consider yourself a great multitasker, so why not do it all yourself? You’ll learn this lesson sooner than later, but I’d rather you do it now and save yourself a lot of headache later: you’ve got to delegate to be an effective entrepreneur. That means that from Day 1, you should have the right people on your team that will help you skyrocket to success.
Every season brings something different, and in addition to cooler weather, the fall brings you the opportunity to boost your staff without reducing your budget. Hiring an intern is a great way to take some of those mundane tasks off your list while possibly grooming your next employee.
When you get to a point in your business where you need help, you’ll probably come up against the question: what type of help should I hire? Factors like how much help you need, your budget, and the area of specialty you need assistance with will all factor into your decision.
Now that the festivities of Christmas and New Year have died down, you can put more energy toward the strategies you’ll use to grow your business this year. Here’s a list of 10 things you can do to start the year off right.