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Cool Tech Tools: When There’s No Internet, Use Your Personal Hotspot

Have you ever been in a situation where there’s no internet and you needed it?  Or perhaps you’re at a hotel and don’t want to pay the extra $15 per day for wireless internet.  If so, you’re not alone, and luckily, there’s a gadget for just about everything.  This time, it’s a gadget you probably already have:  all you need to do is whip out your cell phone. Read more

iPhone Personal Hotspot

Your cell phone can act as your wireless modem.  Plug the iPhone into your PC using your USB connection.  Go to Settings on your iPhone and one of your settings will be labeled Personal Hotspot.  Tap it and toggle it to “on.”  Set a password.

On your PC, view your wireless internet connections, and the name you’ve given your phone will show up.  Click to connect and enter the password you set on your phone.

Voila, internet!

Android Personal Hotspot

If you have an Android, tap More… and select Wireless and Networks, then Tethering and Portable Hotspot. Check Portable Wi-Fi hotspot. Tap Portable Wi-Fi hotspot settings and you can edit the Wi-Fi network name, and choose a password.

On your PC, view your wireless internet connections, and the name you’ve given the Wi-Fi network will show up.  Click to connect and enter the password you set on your phone.

Fees

 Ask your cell phone network provider if this hotspot feature is included in your package or is an extra charge.  You may also have to call then to enable this feature.

Once you’ve used this once, you’ll be hooked.  You now have a new internet access alternative anywhere you have cell phone coverage.

Patricia Anderson No Comments

Understanding How Teams Grow

Do you have employees who need to work together as a team?  Or perhaps you need to work as a team with your customers and vendors.  When people of different backgrounds get together for a common goal, there are often four stages they go through before they become a true team or family. Read more

Four Stages of Teams

In 1965, Bruce Tuckman noted that there are four stages in which teams evolve:  forming, storming, norming, and performing.  Two goals are crucial for teams:

  1. To reach the optimal stage, performing.
  2. To build trust, respect, and open communication during all four stages of the process.

Forming

In the forming stage, team members begin to get to know each other and what their goals are.  This is a good time for the team to set ground rules that cover how often the team should meet, how they should communicate, and what their objectives will be.  This is an ideal time for the team to assess their strengths and challenges.

Storming: Team Conflict

In the storming stage, conflict begins.  The diverse points of view of each team member present as team conflict.  Team members need some tools in this stage to avoid clashing egos and turf wars.  Have team members actively listen to other team members’ viewpoints to better negotiate through the problem-solving the group needs to perform in order to get their goals met.

Don’t let a team get stuck in this stage because emotions that simmer under the surface will blow up.

Both active listening and assertiveness training are great tools to help teams learn how to manage the conflict and work through the issues that come up during the storming stage.  Employees also need to learn how to deliver feedback and bad news in an effective, non-threatening way.

Norming: Becoming Complacent

The third stage of teambuilding is norming.  In this stage, team members can become complacent and agree with the group to avoid conflict.  The leader must challenge the group not to fall into this type of groupthink, which results in terrible decisions.

Performing: The Optimal Stage

In the final stage of teambuilding, performing, the group has found their synergy.  They perform at their highest productivity and quality.  They have built trust among team members to get the job done constructively and without personal conflict.

Which stage is your team in?  Knowing the natural stages will help you move your team to the optimal stage, performing.

Patricia Anderson No Comments

How to Avoid Sales Tax Surprises

Sales tax laws are constantly changing, and sales tax audits have increased since states and local agencies have become creative about finding new ways to generate revenues.  If you haven’t made any changes in your sales tax procedures in a while, you are probably at risk. Read more

Taxability

 From state to state, the taxability of items varies.  For example, data processing services including web hosting and graphics are taxable in Texas but not California.  Because of these intricacies, it makes sense to consult an expert in this area.  Some states have been taxing certain services for many years now.

 Nexus

 The new buzzword in sales tax is “nexus,” which simply means presence.  If your business has a presence in a state, then certain items you sell could be taxable.  “Presence” is a little gray, but here are a few examples of some characteristics that the courts have decided prove nexus.

  • If you have employees or contractors working in a state, you are liable to collect and remit sales tax.  This can play havoc if you hire virtual or remote workers.  Even if they are part-time, you have nexus in that state.
  • If you outsource inventory fulfillment in any way (think Amazon sales), you have nexus in states where there is a physical warehouse that houses your products.
  • If you own business property in a state, you must file sales tax.
  • If you participate in trade shows or are a public speaker, you have nexus in states where the conferences are held.

The Risk

If you fail to collect taxes where you should, the risk is easy to calculate.  Take the potential taxable sales times the sales tax rate, and add any penalties.  The numbers get scary if you’ve been in business for several years.

Let’s say your annual revenues are $5 million.  You didn’t realize that your Texas sales were taxable, and this amounts to 10% or $500K.  Your tax liability is $41,250 per year.  If you have been doing it wrong for five years, well, you can add it up.  Add penalties on top, and it’s not a small amount.  It can wipe out your entire year’s profit.

Sales tax liability becomes more important if you plan to sell your business.  A traditional valuation will always include a sales tax risk analysis.  Even if you don’t plan to sell, the odds of you getting audited or a disgruntled employee blowing the whistle can be too much to risk.

If you want help calculating your risk or assessing nexus or taxability for your business, reach out and we can help.

Patricia Anderson No Comments

Mid-Year Milestones

Wow, can you believe that 2015 is half over already?  Now that we’ve crossed the halfway mark, it’s time to see if we’re on track for our 2015 goals.  To do that, we need to see if we’ve met our mid-year milestones.

Managing By Milestones

 A milestone, in project management terms, is simply a point along a project timeline.  It’s marked so that project managers recognize when that portion of the project has been completed.  We can use milestones to see how we’re faring toward financial goals as well.

Assuming our business is not seasonal, we should have earned half of our target revenues for 2015 as of the June 30, 2015 income statement.  If we’re falling short, we can recognize that and perhaps add some promotions or sales to spike revenues so that we can correct the shortfall before the year has ended.  If we’re ahead of the game, we can see what is working so well and make sure to replicate it.

Either way, with milestones, we can be more proactive in reaching or surpassing our goals.

By the Numbers

 Some of the numbers you may want to set milestones for include:

  • Revenue to date
  • Expenses
  • Profit to date
  • Debt paid down or debt taken on
  • Assets acquired or sold
  • Number of employees added or lost or both
  • Number of clients added or lost or both
  • Accounts receivable aging

Project Performance

Milestones don’t have to be numeric.  You can also use them to determine if you’re on track with internal projects.  Perhaps for 2015, your goal was to replace 5 PCs and convert your shopping cart software.   You can set milestones to monitor specific phases of these projects or just monitor when you start and complete them.

Mid-Year Milestone Report

 Document your accomplishments in a mid-year milestones report.  It feels good to write them down, plus you’ll have a history of how much you accomplished as well as what worked.

The report can include the milestones as well as a narrative explaining the performance to date.  If you’d like our help creating this report, please feel free to contact us.

Accounting for milestones can help you become more proactive toward reaching your business goals.  Plus, it’s great to see how far you’ve come since the beginning of the year.

Patricia Anderson No Comments

Ten Excuses to Have a Sale

If you need cash fast, there’s nothing like having a sale to increase your bank account quickly.  Here are ten excuses you can use to tell your customers you’re having a sale. Read more

1.  It’s Your Birthday (or Your Business’s Birthday)

We all feel generous on our birthday, so why not have a sale on your special day.  You can even tie to discount amount to your day of birth.  For example, if you were born on the 14th, then you can offer customers 14% off.

Similarly, you can hold an anniversary sale on your business’s anniversary date.  It’s a good way to let customers know how long you’ve been in business.

2.  Your Partner Is on Vacation

If you have a business partner, you can use the excuse, “When the cat’s away, the mice will play.”  You can pretend that your partner knows nothing about the sale, but has left you in charge and you’re going to have this sale.  The customers will enjoy the reason and feel like they are getting away with something fun.

3, Holidays

Most stores have holiday sales, and you can too.  There are so many unusual holidays that you can tap into just in case the holidays are at an inconvenient time.  Here’s a website that will give you a list of special days, weeks, and holidays: http://www.holidayinsights.com/moreholidays/

4. The Full Moon

Why not?  It might be the best sale you’ve ever had.  The next full moon is July 2, 2015, and you’re in luck because July has a blue moon (when two full moons occur on one month) on July 31, 2015.

5. Small Business Saturday

November 28, 2015 is Small Business Saturday.  It’s one day after Black Friday and the Saturday before Cyber Monday.  Small Business Saturday is relatively new, but has been gaining momentum in the past few years.

6.  Tax Holidays

In some states the sales tax authority provides exemptions for a few days on selected categories of items.  For example, in August, Texas allows one weekend where sales tax does not have to be paid or collected on school supplies.  You may not even have to mark down your items to generate a crowd for sales tax holidays.  Here’s a Wikipedia page on it: http://en.wikipedia.org/wiki/Tax_holiday

7. Old Inventory Items or Overstock Conditions 

A great reason to have a sale is when you have old inventory items you need to clear out.  Similarly, if you’re overstocked on certain items, a sale will help them move.

8. Your Kid’s College Tuition Is Due

You can have a lot of fun by advertising that you simply need to make your tuition payments.  Customers will get a smile out of helping you out and relating to a familiar need.

9. The Stock Market

If the stock market goes up or down, you can have a sale based on its performance.

10. Seasonal Dates

Dates such as the first day of summer, Spring Equinox, or even April 15th, tax day (in the U.S.) can be potential sales days for your business.  Think about seasonal dates related to your industry.

Try these ten ideas to get your sale noticed.