What Should I Do To Maximize Small Business Profits for 2013

Maximizing Small Business profits
Actions to maximize Profits
Image: www.icic.org

We now have some (60) days left in the year and many small business are thinking…

What Should I Do To Maximize Small Business Profits for 2013

By Dan Norris

We are in what is called the “selling season” and if you are involved in marketing consumer services or products these next two months are critical for maximizing your marketing programs to attract the greatest number of prospects and customers possible.

There are several important action steps that you can consider to achieve and exceed your goals for 2013…as well as to begin preparing for 2014. Consider these steps…

  • Step up your marketing programs to attract prospects and customers
  • Consider special pricing and promotions whenever possible
  • Meet with your staff to discuss their ideas of how to finish strong in 2013
  • Talk with your tax professional to discuss tax-saving actions for 2013
  • Talk with your legal professionals to discuss legal questions and get advice
  • Talk with your business consultant professionals to discuss issues and their advice
  • Talk with you insurance broker professionals to discuss issues and their advice
  • Review your staffing needs and performance…take actions where necessary
  • Attend your local B2B connection groups to interact with your peers
  • Attend your local social activities to renew acquaintances and maximize contacts
  • Begin your business planning for the year 2014

Each of these actions would produce better results if you are able to give them meaningful thought before tackling each one.

Let’s take the first item for example…your marketing programs. I would begin by defining the marketing programs that you now have and decide if you want to change or add to what you are doing. Would you like to attract prospects 24/7 as opposed to your having to find them? How can you go about doing this? What is your physical marketing program? What is your internet marketing program? Should you be involved in social media? How? What actions could you implement immediately with little cost that could increase your prospect traffic significantly?

By taking each of these potential action items individually and asking yourself the questions that are important…you will be able to take a critical look at how you can make improvements.

By asking for participation from your employees (if any), and by asking questions and seeking advice from all of your key professionals on taxes, legal matters, and business matters you are leveraging on the advice of experts in many fields. The small business owner can be much more successful by seeking the advice and counsel of affordable and competent professionals!

Entrepreneur
Dan Norris

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HOUSTON CHRONICLE

How to Maximize Your Profits

by Jessica Kent, Demand Media

Business owners want their bottom line to be as profitable as possible. To maximize profits, the owner must be diligent in cutting frivolous costs and boost productivity among employees. This is an ongoing process that often faces many challenges. The key to success is to always remember that at the end of the day, the business’s profits will serve two purposes. The profits will be reinvested in the business to allow the business to grow. The profits will also be distributed to the business owner.

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SCORE

Control Costs to Maximize Profits

The reduction of specific fixed and variable expenses can improve your profit picture. First a word of caution. Do not needlessly cut costs. Legitimate expenses provide the framework for your business and you don’t want to cut your operating budget too deeply. However, you must be ever vigilant when it comes to controlling expenses. Each year, expenses have a way of creeping skywards. It is up to you, to evaluate if those funds are being spent for their maximum effect.

Read more:
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Maximize My Profits
Controlling Costs
facilitymgt.com

 

Dan Norris

Small Business Consultant

Author

 

Do You Need Affordable Attorneys to deal with Affordable Care Act?

Affordable Attorneys
Affordable Attorneys and Business Consultants
Image: www.ocregister.com

 

With so much uncertainty to deal with today, managing your small business may be even more challenging than usual. This post is to acquaint you with excellent, economical, and affordable solutions for professionals including lawyers, attorneys and business consulting professionals for all functions of your small business with up to (99) employees .
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Do You Need Affordable Attorneys to deal with Affordable Care Act?

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Recommended Solutions For Small Business Owners.

For more information please send an email to dannorris42@gmail.com or call me on 407-749-9395.

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Even though many things have changed since the blog below was published in December 2012,   the basic information is very important.

crowdSpring
cS crowdSPRING BLOG

 

Small business: The Affordable Care Act, Part II

Mike | December 3rd, 2012

Earlier this year, I wrote a post about ways that Obamacare might help small businesses. At the time, the Supreme Court had just released it’s decision upholding most of the Affordable Care Act’s provisions and the dust was still settling on what it would all mean. Last month, President Obama won re-election, effectively removing the threat that the law would be repealed soon, and now these provisions are going into full effect, many starting in the next 12 months. Every small business person, accountant, benefits manager, and employee I have spoken with has expressed confusion, provided me questionable information, or just stared at me with a blank expression, often accompanied by a quivering lip.

The implications for small business are just beginning to come fully into focus, and these are complex but in balance are beneficial to most small businesses. The act defines a ‘small business’ as one employing fewer than 200 workers, but for this post I want to focus on the smallest of businesses – those with fewer than 25 employees and with annual revenues of under $1,000,000. This is a very specific, and huge, slice of the small business community. These businesses are almost always owner-managed, which means that they don’t have an HR person to figure it out and they may not have an accountant sophisticated enough to provide reliable answers on what the law requires.

There are a number of requirements that businesses with fewer than 25 employees need to keep in mind as we approach January of 2014 when most f the law’s provisions will have kicked in. The most important questions for these very small businesses are: 1) Am I required to provide health insurance for my employees? 2) What are my options if I do provide coverage ? and 3) When must I do something?

Read more: 

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As a small business consultant with more than 50+ years of small and large business experience, I will be pleased to discuss these subjects with you on a complimentary basis to discuss your needs and considerations.

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Dan Norris

Small Business Consultant
Author

So You Want To Know What To Do With Social Media?

Internet Marketing Strategy
Internet Marketing Strategy
www.businessmarketingblog.org

There are many Americans now that are seriously interested in starting their own business…either full time or part-time. If you are one of those and have some questions about how to get started…. especially with how to start with your internet marketing strategy including social media then this post is especially for you. First let’s say that social media consists of a very broad spectrum of companies,  however the key names now in social media are Facebook, Google, Twitter, Linkedin, Pinterest and and several more that are growing in importance every day. An internet marketing strategy also include more than just social media so  we must add at least at a minimum these:

  • individual internet websites
  • blog sites
  • news and magazine media
  • links between all of these.

So You Want To Know What To Do With Social Media?

So if you agree that this is a basic definition of the tools available from which to build an internet marketing strategy, and you want to start a business, where do you start deciding and where do you focus your time and energy? Do you need a website? Do you need a blog? Do you need a Facebook Page? A Twitter Page? A Google Community? What strategy can you develop for all of these. There is a beginning point that considers the “why” of all of these. Why would you do this or do that? What is the benefit? What are your goals?

Simple right?…just build a (……………) site….you fill in the blank because you have recently found a company that will make you rich in less than a year and you will be financially independent for the rest of your life. Hey… Please stop and wake up and smell the roses ok! Believe it or not, I have some important information for you to consider based on considerable personal experience. There are many in industry who can help you however finding a better source with honest motivations is not an easy task….and by the way you are already here on this site…so it behooves you to gain the opinion here and bounce it against any other opinion that you can find…ok! You may be just starting your new business, you may have a Facebook page, Google Page, a Pinterest page, a LinkedIn site or other site that is bringing you profits (or losses)! Even so, is what you have done the best possible strategy that you can take, or would you like to know more about how you can inform yourself of more comprehensive strategies? This week I connected on LinkedIn with a wonderful chap from Ireland and we talked today about his business. He is doing quite well with his direct selling business however wants to grow it with the internet. He very much believes in the idea of being open for business 24/7 as well as having prospects find him through Attraction Marketing and Blogging as opposed to him having to find all of his prospects through direct selling.  He is currently in the process of building a WordPress blog site which is an excellent decision, however he is not quite sure as to how to approach a strategy with the rest of the media websites.  With a 15-minute fun conversation between great guys from  Ireland and Orlando my new friend Bobby and I  shared important ideas that give him a new perspective that will allow him to leapfrog for couple of years what he can do next that can move his business forward much more rapidly.

Internet Marketing Strategy
Internet Marketing Strategy
Image: www.businessmarketingblog.org

If you have any interest in developing your internet and social media marketing strategy why not give me a call. No charge for our conversation. Let me hear from you. Dan Norris 407-951-7132 Ofc  or 407-749-9395 Cell

Seven Most Common Mistakes of Starting or Owning A Business

Entrepreneur
Open Your Own Business
Image: www.newbizsecrets.com

So you own a small business or you are thinking about starting a new business?  In either case you face critical risks that you may not even realize that you have or ever will have. This information is offered to those of you who have not ever received the proper professional advice that makes you aware of your risks and what you should do about them.

Most people going into business are usually starting on a shoestring or trying to minimize any dollars spent to get started. For scarcity of money reasons most of these business owners elect to avoid critically needed advice found here.  This article excludes those start-up companies that have had thousands and millions of dollars of start-up funds and a staff of professional start-up advisors to make sure the right things happen up front.

The purposes of this article are to inform you about these critical risks that you face and of which you may not be aware , and secondly to let you know that there are very affordable solutions to these issues. You only need to contact the author of this post to inform you as to how to most effectively deal with these issues. This information is also intended to help protect your investment in time and money in the company that you commit so much energy…and so this post is about today…

Seven Most Common Mistakes of Starting or Owning A Business

and to convey my message I offer the following excellent article provided by Forbes…

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Forbes

Seven Sadly Common Mistakes When Forming A New Company

Brett Nelson  - Contributor   Published 8/29/2013

Entrepreneurs face a smorgasbord of risk. Have they identified a real market need? (Strategic risk.) Are they executing effectively? (Operational risk.) Will they go broke wooing customers? (Financial risk.) Will their (likely) failure tarnish their image? (reputation risk.) But there’s another risk that threatens new companies even before they’re born: legal risk.

Steven Gladstone, a lawyer at Hall Booth Smith, headquartered in Atlanta, knows about managing legal risk. Gladstone, 65, has four decades of experience forming companies and structuring private placements, often based on the value of intellectual property. He has counseled entrepreneurs in everything from film production to real estate—and he has acute appreciation for how legal snafus can sting.

Gladstone shared seven legal mistakes that new entrepreneurs tend to make, including real-world anecdotes drawn from his own practice. Bottom line, he says: If you don’t take proper precautions, your startup may be dead on arrival.

Mistake #1:  Not getting legal assistance from the beginning.

Just one example: A potential client called me a few months ago with a big problem. Six months before consulting a lawyer, he had taken a partner in a new business. Soon enough, that fellow had eaten $100,000 of my client’s money—on trips to Singapore, designer suits and other flagrant outlays. He also refused to sign a flurry of routine but important documents, and still my client continued to make funds available to him.

Painful result: a high-dollar collection matter three states away, a nasty fraud claim, a corporate dissolution, and a nightmarish settlement negotiation. What should have cost the client $3,000 to $5,000 in legal advice at inception ballooned into a tab five times that amount to untangle a big mess. And to top it off, the venture flat-lined within the next month.

Read more:

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For complimentary discussions on solutions for your small business please email dannorris42@gmail.com or call me on 407-749-9395.

Dan Norris
Small Business Consultant
Author

Do You Want To Sharpen Your Axe?

Sharpening Your Saw
Abraham Lincoln                                  Image: BrainyQuote

As a smart, savvy business owner do you have all the tools that you need to be effective?

Could you improve your business effectiveness in any way or are you at the top of your game? Do you now have everything that you need to be effective so you don’t have to keep your eyes, ears and mind open to anything that could make you more cost-effective, reduce your risks and improve your profitability? Be honest with yourself now.

“Do you want to sharpen your axe” as Abraham Lincoln recommends?

In my experience owning and working with small businesses I have found that qualified attorneys for many different legal needs are vital to the success of a small business.

And just as important as the need for competent attorneys is the affordability of their services whenever you need their advice. Most small businesses cannot afford to pay $200-$300 per hour for attorneys services.

As a result many business owners will try to handle the issues themselves so as to avoid the costs. And what happens if they need representation in a suit filed against them? Can the business handle such costs?

To help you solve this dilemma, let me show you how you can have most of your necessary legal services fulfilled by qualified, experienced attorneys in all fields of law…with a cost of $50-$100 per month on an ongoing basis. More than 35,000 small businesses now take advantage of these services.

If you would like to know more about how you can access these services across the United States and Canada, just send me an email to dannorris42@gmail.com or call me on 407-749-9395.

I look forward to hearing from you

 

Dan Norris

Be Successful
Dan Norris

Small Business Consultant

Author

 

So You Really Want To Improve Your Game!

20 New Rules of Money
20 New Rules of Money
Image: Forbes.com

Forbes

The 20 New Rules Of Money

How do you thrive at a time when uncertainty is the only constant and age-old investment practices no longer seem to work? Here are 20 new rules for protecting your wealth and building your capital.

Read more:

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So You Really Want To Improve Your Game!

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Forbes

Don’t Believe The Debt Ceiling Hype: The Federal Government Can Survive Without An Increase

Jeffrey Dorfman, Contributor

Ignore what you hear and read in the news. The federal government actually reached the legal debt ceiling about four months ago. Since then, the government has been financing its monthly budget deficit by stealing/borrowing money from other government funds, like the federal government employees’ pension fund. In about two weeks, the government will run out of tricks to keep operating as if nothing has happened. If the debt ceiling is not raised by then, the government has to balance its budget.

That’s right. As much as the politicians and news media have tried to convince you that the world will end without a debt ceiling increase, it is simply not true. The federal debt ceiling sets a legal limit for how much money the federal government can borrow. In other words, it places an upper limit on the national debt. It is like the credit limit on the government’s gold card.

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Forbes

5 Things Super Successful People Do Before 8 AM

Jennifer Cohen, Contributor

Rise and shine! Morning time just became your new best friend. Love it or hate it, utilizing the morning hours before work may be the key to a successful and healthy lifestyle. That’s right, early rising is a common trait found in many CEOs, government officials, and other influential people. Margaret Thatcher was up every day at 5 a.m.; Frank Lloyd Wright at 4 am and Robert Iger, the CEO of Disney wakes at 4:30am just to name a few. I know what you’re thinking – you do your best work at night. Not so fast. According to Inc. Magazine, morning people have been found to be more proactive and more productive. In addition, the health benefits for those with a life before work go on and on. Let’s explore 5 of the things successful people do before 8 am.

Read more:

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Dan Norris

Author

Small Business Consultant

 

Music for Music Lovers!

Life is wonderful! So precious! And so is music! Each of us appreciate different music just as we like different food and drink. I would like to share with you some of the wonderful music that I enjoy…by incredible performers…in my opinion…I hope that you enjoy!

Music for Music Lovers!

 

I LOVE YOU - Celine Dion ( lyrics )

 MuS1c4LiFe MuS1c4LiFe·
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Simon & Garfunkel - Bridge over troubled water (with lyrics)

46nicole
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House of the Rising Sun - Vassar Clements & Mark O’Connor

Jw Stockman
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Critical Thinking! Be Honest With Yourself! How Long Before You Will Need…?

Critical Thinking
Critical Thinking
Image: www.apologetics315.com

 

For those who read this post they will have a serious interest in…

  1. achieving financial independence
  2. accumulating more money and assets than you will need during your lifetime
  3.  to accomplish that very intelligently using the very best decisions and advice
  4. by protecting you and your loved ones for maximum security
  5. by protecting yourself from loss of your personal data and identity.

This post is about how I can help you achieve any and all of these goals. If you are not interested in meeting these goals, then this information is not intended for you. Thanks for stopping by! I believe that there is at least 1% of the population who are interested in achieving financial independence and I am searching to find them. Are you one of the 1%? Do you know someone who is?  If so, why not take this information seriously, read and listen carefully with honest critical thinking, and contact me  to let me know you are interested. Together we can do this! I can show you how to accomplish your goals! Now to the fundamental questions that will be your motivations and your WHY!  It is essential that you be extremely honest with yourself in answering each question below.  If you get a YES answer to any one of the questions then you owe it to yourself to do something about it. How long have you known the answer was YES to any question and kicked the can down the road? Delayed? Procrastinated? Put off?  Why would you procrastinate  a day longer if you had extremely cost-effective, proven, unmatched solutions to begin solving each one today? And someone standing ready to help you achieve them? These are real solutions that can pay you back more than you invest in them. Here are your questions my friend…

Critical Thinking! Be Honest With Yourself! How Long Before You Will Need…?

  • More income and assets than you have right now?

  • To hire an attorney for any purpose?

  • Someone to help you recover your identity and assets?

Let’s begin with your legal rights!  If we don’t know your legal rights – you don’t have any! Have your legal rights ever been challenged? Have you ever wished that you had a lawyer that you could call on but you chose not to do so? Why? Cost? Didn’t know one? Trust? Did it yourself?   And next…Identity Theft

Identity Theft in 2012 was for the 12th year the highest incidence of crime reported to the FTC and is increasing in frequency.  Identity Theft occurs in more than five major areas, not just on bank instruments and credit cards. It also occurs on Social Security numbers and especially income tax filing, Medicare and medical records with your insurance ID numbers, with driver’s license numbers, with pure theft of someone’s name and identification, and on the internet by data theft. Banks do not monitor all of these numbers and data possibilities so they cannot protect you for everything as is mistakenly thought. If you think your bank ID theft protection has you covered for all options you really need to investigate that much deeper. That is the tip of the iceberg. We’re told to monitor our credit, to protect ourselves from identity theft. But who knew to apply that same wisdom to our offspring? Last year the number of ID theft victims reached 12.6 million, up 1 million from the previous year, according to a Javelin Strategy and Research Identity Fraud Report released Feb. 20, 2013. According to the AllClear ID 2012 Child Identity Theft Report, about one in every 40 households with young children is being affected.  Does your ID theft protection cover your children? It should as they are extreme targets especially their social security numbers. Would you like to have a monthly ID protection plan for you, your partner and your children, at one of the lowest costs in the industry, that provides for monitoring of all of your five identity risk data areas, and includes restoration by licensed investigators? You would never be able to access all of your private data around the world to restore your identity, nor could you afford the time from work or the expenses, however this solution takes care of that for you.

Now on the business side-let’s talk about increasing your income and assets. This could be an immediate need for you now or it could be a need that you have some time to work on! Can you relate to the message below? If so…here is a great solution for you to build financial independence and make any days of the week vacation if you like! It’s really sad that most people live their lives in quiet desperation looking forward to the weekend so they can own their own lives for two days….

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Based on your background, experiences, education and goals we can discuss on a complimentary basis appropriate options that could be appealing to you that would help you achieve your goals. For more information please send me an email on dannorris42@gmail.com or call me on 407-749-9395.

Dan Norris
Small Business Consultant
Author

What is Critical Thinking? A Definition Gary Meegan

The IRS and Small Business Owners

Auditing of small business owners by the IRS has taken on a new importance given recent events.

We are coming up on the October 15th deadline for filing taxes for those who were granted an extension since April.

These three articles are provided to assist those interested in keeping up with major tax activities.

We are coming up on the 100th year anniversary of the income tax next April 15th, 2014.

According to  the PEW Research Center non-partisan polling “Tax Fairness” ranks 8th in the order of public priorities for all Americans. The charts for all Public Priorities are shown below.

The IRS and Small Business Owners

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FORBES

What Are Your Odds Of Being Audited By The IRS?

Tony Nitti, Contributor

Dear Client,

It’s late March, so forgive me if I come off as a bit harsh, but do you know the old saying, “there are no stupid questions?”

That’s bull.

In fact, there are lots of stupid questions. This time of year, I hear them daily. For example:

No, you can’t deduct your hot tub as a medical expense because your “legs get sore.”

Nor can you deduct the amount paid to prostitutes as “sex therapy.”

And no, you can’t have your company make your bonus check out to your 6-year old son to avoid income taxes, though I admire your ingenuity.

As frustrating as these types of questions may be to field, however, I assure you they don’t annoy your tax advisor nearly as much as this one, which is asked all too often this time of year:

“If I do this on my tax return, what are my chances of being audited by the IRS?”

Read more:
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 e have successfully received our $250,000 budget through traditional fundraising and online crowdsourcing. Thank you to all our donors, investors and partners.

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PEW Research Center for the Public and the Press

Public Priorities: Deficit Rising, Terrorism Slipping

January 23.2012

As the 2012 State of the Union approaches, the public continues to give the highest priority to economic issues. Fully 86% say that strengthening the economy should be a top priority for the president and Congress this year, and 82% rate improving the job situation as a top priority. None of the other 20 issues tested in this annual survey rate as a top priority for more than 70% of Americans.

Read more:

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For  more information and discussion on these topics please email dannorris42@gmail.com or call me on 407-749-9395.

Dan Norris
Small Business Consultant
Author