Five Tips for Applying for a US Business Visitor Visa

If you’re going to be visiting the United States as part of a business trip, you need to apply for a US business visitor visa from your country of origin before arriving at your first US port of entry. This process will be complicated if you’ve never done it before, so make sure you follow these five tips as closely as possible if you want to minimize stress and maximize your chances of getting the visa as quickly as possible.

1) What is a B1/B2 Visa?

A B1/B2 visa is considered a visitor visa in that it allows foreign nationals to travel to and enter America for business purposes. There are multiple types of B1/B2 visas including tourist, business, investor, treaty trader, or treaty investor visas. The application process varies depending on which type of visa you apply for. For our purposes in writing our professional post, we'll focus on how to obtain a standard B1/B2 visa.

2) What is the Difference Between B1 & B2?

If you are planning to come to America temporarily on business, there are two primary visas you should know about. The B1 visa is appropriate if your plans will require you to spend no more than 6 months in total at any point, while B2 will allow you 6-12 months depending on how much time you'll spend outside of the United States. If your travel plans are uncertain, it's worth applying for both types of visas. Often times it's not clear how long an assignment will take until after you arrive, so just be honest and flexible with your application details. If there is doubt or confusion around your plans—ask! You can ask USCIS an officer designated by them at any time while applying for a visa during processing.

3) How do I apply for a B1/B2?

The process of applying for and obtaining a US business visa isn’t terribly complicated, but it can be intimidating if you aren’t sure what to expect. That’s why we put together these five tips on how to apply for a B1/B2 business visa. Read our tips below and you’ll know what documents to gather and how long each part of your application will take. Once you've applied, visit our Frequently Asked Questions page to learn more about visiting the United States as a tourist or businessman (or woman). We hope these tips help answer some of your questions and make applying easier!

4) Do I need extra documents based on my citizenship?

US business visitor visas require that your trip to America is connected to commercial, professional, or other established trade relationships. However, different visa classifications may require additional documents depending on your citizenship. If you’re unsure what documents you need based on your nationality and/or type of visa, it’s best to consult with an immigration attorney before filing your application. Here are five things you should know about applying for a business visitor visa

5) Do I need to notify anyone I'm coming?

You don't need to notify anyone of your visit, but you should be prepared to prove that you have ties that will bring you back to your home country. While it's not required, provide supporting documentation showing financial stability, employment status, and/or future travel plans. If someone else is sponsoring your trip or inviting you as a guest of their business or organization, include documentation of these relationships. Showing someone is coming to see me may not be enough if they can't explain why you are visiting them specifically.

Conclusion

The business visitor visa is intended to make it easier for non-US citizens to come into the country on short notice to do business with companies based in America. The application process can seem daunting, but there are many resources available that can walk you through each step. I’ve outlined five tips below that will help make sure your application goes smoothly and you get approved quickly. Following these steps will ensure that your potential US customers won’t have any trouble contacting you while you conduct business in their country.

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6 Simple Ways to Help Creative Agencies Get Clients on Board

Most creative agencies struggle to make ends meet, simply because they are not able to generate enough leads and convert them into paying clients fast enough. Here are six simple ways any creative agency can increase its client base in the next 30 days with no extra costs whatsoever.

Establish Trust

If you want clients, you first need them to trust you. And there’s no better way to gain that trust than by showing your work. Show them your portfolio, talk about past projects, or hand over a well-written case study. It doesn’t matter what it is; if they see what you can do for their business, then they’ll start feeling more comfortable about working with you. Once you have their trust, it’s easier to get involved in strategic conversations and brainstorming sessions where hard decisions are made. After all, most of your success will be determined during these early stages of planning. Without enough client buy-in at this point in time, any agency worth its salt would walk away from a project—no questions asked.

Work Together

Even if you’re targeting a local market, it’s important to network and collaborate with like-minded individuals. It might seem counterintuitive, but there are numerous benefits of collaboration for creative agencies. You could form mutually beneficial partnerships by teaming up with another creative agency in your industry; find out what challenges they face and see if you can help them overcome those obstacles. And don’t forget: A good referral from another business or professional is one of your most valuable assets when it comes to getting clients on board.

Collaborate

Finding and working with a like-minded, talented partner or team can be a real asset. Having an in-house creative director for example means you’ll have someone who intimately understands what your business does, where it fits into your clients’ strategies and how you work as well as who isn’t afraid to voice an opinion when something feels off. That said, make sure that you not only see eye-to-eye but are also working in complementary spaces. One mistake that creatives sometimes make is spending too much time collaborating with other creatives when they should really be looking for ways to collaborate with people from different disciplines—particularly salespeople.

Offer Something of Value

Don’t just spam your potential clients with advertisements. Many of them are going to ignore you anyway, so it’s a waste of time and money. Instead, offer something of value that will make you stand out from competitors—like a free trial of your product or service. You might not see immediate results, but these little gestures can have a big payoff in long-term relationships. You don’t even need to go all out right away; instead, start with small things like email newsletters or simple downloads that show off your expertise. Take care of those who already know about you and they’ll be more likely to pass along positive word-of-mouth advertising once they do start working together.

Show Off Your Awards and Recognition

In your social media profiles, you should always include any awards or recognitions you’ve received. No matter how big or small they are, it’s still proof that you have experience and can be counted on for stellar work. If you don’t have any awards or recognition, start applying for grants now. It will look great when potential clients see it in your portfolio. And if they notice a lack of big-name brands/companies who love your work—they may think less of it. (Even if they don’t notice.)

Give Them an Experience

When you’re working with a creative agency, you want their work to reflect your own brand identity and values. A great way for agencies to do that is by having clients speak directly with team members during consultations or project kick-offs. There's a lot of ways they can facilitate that experience, says Aliza Sherman, Founder, and CEO of IAC Search & Media Marketing, whether it's setting up Skype calls or actually meeting in person. Giving your clients an opportunity for in-person interaction will not only demonstrate your agency's resources but will help them get excited about your partnership together.

Conclusion

While every agency is different, there are certain patterns that can be followed. The most obvious one is that creative agencies need to market themselves in order to get new business. We’ve come up with a few ideas here that have been proven successful time and time again by creative agencies of all sizes—but if you think there are some crucial steps we may have missed, please let us know in the comments below!

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A Brief History of Holiday Shopping

1) Retailers may be decorating their stores earlier because they want shoppers to notice their selection earlier rather than later in December. 2) Companies use decorations as a way to lure customers into spending during what is traditionally a slower season at retail shops. 3) During WWI, holiday decorations became popular on store shelves as a way to boost morale among American citizens on behalf of US troops overseas. 4) Holiday decorations first became mainstream in Victorian England where streets were lit up by gas lamps. 

For centuries, people celebrated holidays at home by giving gifts and cooking festive dishes - until an increased interest in mobility led Americans out of their homes and into retail stores during the Industrial Revolution.

Holiday Shopping Get So Commercialized

What Used to be a Friendly Gift Exchange Has Become A Fight for Sales. On Black Friday, Christmas Eve, and even Halloween, people flood stores on their quest to get a good deal on gifts that they’ll probably just return anyways. The holiday season used to be a time for sharing with loved ones. Today it is just another excuse for consumerism. It has turned family traditions into credit card debt and brand loyalty into consumerism. While some argue that shoppers wouldn’t buy things if there weren’t sales, advertisers know that people will spend money if they are given an excuse to do so.

What People Don't Shop Locally Anymore

Many people don't shop locally anymore, but that wasn't always how things were. Local shopping used to be normal and became increasingly less common over time as retail chains rose to power and spread across the country. This was partly driven by technological advances—the rise of cars made going to places farther away more convenient—but it also happened because people wanted a wider variety of options than their local stores could provide. We’re now at a point where shopping locally is becoming trendy again and it's actually possible for merchants to thrive in today's ultra-competitive landscape with personalized service and smart merchandising strategies.

What People Spend Less On Gifts

Did you know that Americans spend less money on gifts today than they did 100 years ago? It's true. At its peak in 1920, total retail spending during December totaled $6.9 billion—which was equal to $98 billion in 2014 dollars (inflation-adjusted). During last year's holiday season, however, total holiday sales were just a third of that amount: $262 billion. Given these data points, it would seem strange that shoppers are spending more time and money on shopping today. How is it possible to spend less and still shop more?

Creating Special Traditions In Our Own Families

It can be easy to fall into a familiar cycle when it comes to holiday shopping. Year after year, we go to our local mall or big box store and hit up our usual suspects, following similar lists and stocking up on gifts that our friends and family have asked for. And while it’s important to give gifts that your loved ones really want, you don’t have to be a slave to habit; there are plenty of ways to mix things up and create special traditions in your own families.

Conclusion

Until relatively recently, most holiday shoppers spent their time and money supporting local businesses by shopping at Christmas Markets or visiting a department store downtown. Today, that’s changed dramatically; for many, shopping local means popping down to your closest outlet mall and picking up deals on mass-produced products manufactured in China. But why is it like that? What caused holiday shopping to become so commercialized? Well, as you might have guessed from today’s lesson on holiday shopping history, it was caused by a gradual shift away from small-scale localized production and toward large-scale standardized business models.

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How to Stand Your Business up to the Covid

How to stand your business up to the covid? What does it take to ensure that your product or service can compete in the marketplace? The first step is finding an idea that has high potential, and then developing and refining it until you’re ready to launch. The second step involves doing everything possible to mitigate risk and show that you know what you’re doing. Here are some ways you can prepare your business to stand up against the competition so that your idea can grow and thrive into something much bigger than you ever imagined it could be.

1) No Debt

A critical component of starting a new business is not taking on debt. When you start a new business, your income is generally low and expenses are high. This means that even small payments can prevent you from being able to pay your other bills and can set off a cascade of problems in your life. The most important debt to avoid when starting a new business is credit card debt, which can spiral out of control quickly. There are times where borrowing money may be necessary - such as when buying inventory or opening an office - but if you find yourself spending beyond what you make or eating into savings, it’s time to reconsider how much debt you’re taking on.

2) Liquid Assets

The more money you have in liquid assets, like cash and investments, the easier it will be for you to sustain your business through a slower period. The problem is, cash isn’t a great asset when it sits idly; you need options. This is where earning interest and other returns on investment come into play—it allows you to capitalize on your liquid assets without having to move them around too much. It’s also possible that your income from one asset doesn’t match up with another. For example, if most of your money is tied up in stocks but you have bills due next week that can only be paid by selling bonds or real estate, earning an income from those assets will make all of these goals easier to meet.

3) Credit Cards

The biggest risk for small business owners these days is credit card fraud, which can quickly lead to huge losses. If you have a credit card machine for your store, be sure it has EMV technology built-in and use that instead of swiping cards manually. And you should probably get a separate bank account just for your business’s money so that your personal account doesn’t get drained because of fraudulent purchases. Start by opening an account with a small bank and online-only institutions are often easier to work with than traditional banks and credit unions. You may also want to consider using Square, Intuit GoPayment, or PayPal Here as ways to accept payments without dealing with cash in your store.

4) Savings Account

Opening a savings account for your business is key if you want to stand your business up against legal action. You might think you don’t have enough money to open an account, but you’d be surprised by how much interest can add up over time, especially with small amounts of money. Even saving $100 a month can translate into thousands in savings after just one year. Additionally, opening an account that requires multiple signatures might make it more difficult for someone else to take control of your business’s assets without your permission. If you have assets that need protection—like intellectual property or a patent—you might even consider opening a separate bank account solely for those assets and keeping them safe from potential litigation.

Conclusion

Entrepreneurs are optimistic and will always see ways their business could fail. If you have a plan and take small steps along your journey, you’ll always be prepared for any potential issue and won’t let anything get in your way of succeeding. Researching, planning, and preparing ahead of time are crucial elements of running a successful business—and they all start with having an overall strategy that is set in stone. Decide on which direction your business will take early on, be consistent as it grows, and don’t let anyone or anything hold you back from reaching your goals.

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8 Tips for Saving Money With Business Insurance

Business insurance can be confusing and complicated, especially if you don’t know the specific details about the policies offered by your insurance company. But it doesn’t have to be that way! Business insurance policy basics aren’t hard to understand, and knowing the ins and outs of your business insurance will help you save money and find all the coverage you need in one place. Here are ten tips to help you learn more about your business insurance options and how they can save you money over time.

1) Reduce Risks by Buying Properly

If you want to save money with business insurance, take time to get it right. You can reduce your risks and get a lower premium by buying good liability and property coverage and sufficient but not excessive worker’s compensation. This may sound like common sense, but you’d be surprised how many businesses don’t buy enough insurance. By picking up just a little bit more than you think you need, you could actually save quite a bit of money each year.

2) Know When to Use Keyword Phrases

When you’re writing about how to save money with business insurance, make sure to include money with business insurance in your title. Keyword phrases like these boost your post up in search rankings and allow you to attract targeted traffic. As an added bonus, it makes your content more shareable on social media sites like Facebook and Twitter. If you’re not getting enough visitors from Google, try adding some keyword phrases into your content. You may be surprised by what happens!

3) Divide Your Coverage

Dividing your coverage by separating out your home and business insurance policies can help you save money on your insurance. For example, if you own a business in a low-risk industry and work from home, you might get better rates on insurance than if you had two separate policies. Be sure to compare quotes from different providers before making any decisions; it might be worth taking on some additional risk in order to save on premiums. After all, if you’re trying to save money with business insurance, every little bit helps!

4) Consider Adding Extra Limits

If you’re looking to protect your small business, but don’t want to spend an arm and a leg on insurance, consider adding extra limits or higher deductibles to existing coverages. For example, if you’re already carrying $1 million of liability coverage on your business vehicle but would like some more protection, talk with your agent about raising your limit to $2 million. Remember: always get estimates from multiple providers so you can determine which one provides you with adequate coverage at a reasonable price. It may also be worthwhile to shop around once a year – rates tend to change over time and it never hurts to see what else is out there.

5) Get Fewer Deductibles

Getting a low deductible on your business insurance will save you money. For example, if you have a home or auto policy with a $500 deductible, you’ll generally pay 10% of each claim ($50) before your coverage kicks in. If you opt for a $5,000 deductible on your business insurance policy instead, you’ll pay 15% ($750) before coverage takes effect. 

This makes it crucial to have enough assets set aside to cover that higher deductible. Also, keep in mind that some smaller companies might not be able to afford high deductibles without raising prices—and studies have shown that consumers are willing to spend more money if they don’t see price hikes on their invoices.

6) Take Advantage of Discounts & Special Offers

In most cases, you can save a lot of money on business insurance just by taking advantage of discounts and special offers. Before you start shopping, call your agent or insurance company and let them know what kind of business you run (there are many discounts tailored to specific industries). If your company operates in multiple states, ask about multi-state coverage; chances are good it will be cheaper than buying separate policies. Some agents may also be able to refer you to other companies offering discount rates for loyal customers. That's not only smart shopping—it's a good networking.

7) Don't Overinsure

When it comes to business insurance, you can never be too sure. That’s why you should always, always be overinsured. If your company is one of those that can't afford to pay claims when they inevitably arise, it's not worth getting insurance in the first place. Overinsuring means taking out more coverage than you think you need—the only way to make sure you'll be protected if something happens. As a general rule of thumb, if your annual revenue is less than $1 million, consider protecting yourself against potential risks with liability insurance or errors and omissions coverage—or both. You may also want to protect yourself with crime coverage if thieves are especially active in your area.

8) Look at Payouts in Detail

First, you need to get familiar with your business insurance policies’ payouts. Most small business owners know that they have coverage in case of fire or flood, but you should also take a look at your policies to see how much they’ll cover if someone sues you, if one of your employees injures someone in their home, or if you accidentally injure an employee at work. If any of these scenarios are relevant to your business, consider adding extra liability insurance so that in case something goes wrong with one of them, you’re protected. You can also opt for increased coverage limits in some areas so that when bad things happen, you aren’t out too much money.

Conclusion

There are many ways to save money on business insurance, from bundling policies to getting quotes from different companies. Be sure you have a complete understanding of your coverage and what you will need in your next policy so that you can maximize your savings. One of these tips might be just what it takes to get more bang for your buck with business insurance. For more information contact a local agent who has experience saving businesses money on their commercial coverages.

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What to Look for in a Janitorial Service

If you run your own business, especially one in an office building, you probably think it’s worth it to invest in the best janitorial cleaning service you can find. But how do you know if you’re really getting your money’s worth? Luckily, there are some signs that will give you an idea of whether or not your janitorial service is doing its job right. Here are just three simple ways to evaluate janitorial cleaning service performance.

1) Verify Experience

When evaluating janitorial service providers, you want to ensure that they have experience cleaning your type of business. Ideally, they'll have served similar businesses with similar features. For example, if you own a restaurant, look for someone who has served other restaurants. Find out how often they clean each facility and whether or not it's all done by employees or through sub-contractors. An experienced service will have employees on staff that is dedicated solely to one facility so that attention can be paid specifically to your needs.

2) Verify Certifications

As with any business dealing, it’s important to verify that anyone or any company you’re thinking of working with has all the necessary certifications. For example, if your office is near an airport, you’ll want someone who has FAA certification. On top of being up-to-date on industry standards and local laws, it shows that they have taken their craft seriously enough to put in extra hours at school or on the job site. If an individual or service doesn’t have what you need, move on to another candidate – there are plenty out there! Also, keep an eye out for whether janitorial services have insurance – it’s a great added security measure.

3) Verify References

When checking references, you'll want to interview two or three past clients and ask them: How long did they work with your company? How would they rate your company's punctuality and reliability? What did they like most about working with your company? And what did they like least? Ask if you can speak with current clients, too. What can you find out from them about their experiences working with janitorial services in general and yours specifically? Make sure you get key information such as contract dates so that it is easy to evaluate how many of those references are still doing business with your company.

4) Verify Insurance

When you’re evaluating janitorial services, one of your priorities should be insurance. The last thing you want is to discover that your contractor does not have coverage when something goes wrong. With an accredited service, you can trust that they are properly insured, both physically and financially. The issue of insurance coverage alone should be enough reason to look elsewhere if your potential provider cannot or will not provide proof of insurance. It’s better to know before disaster strikes than after it's too late. Any reputable janitorial service will be able to provide proof of appropriate commercial liability insurance with any reasonable request, so don't settle for less!

5) Verify Customer Base

Look for companies that have more than five years of experience and a track record of good customer satisfaction. If you’re unsure if their references are legit, look them up on Yelp and see what previous customers have said about them. It’s important to note whether or not they’ve been around long enough to establish processes and service continuity. You shouldn’t do business with anyone who hasn’t been able to maintain positive feedback from their customers.

Conclusion

A janitorial service can be one of your most effective marketing and advertising tools, but only if you choose wisely. Evaluate cleaning service providers by considering some of these criteria: thoroughness, timeliness, cost-effectiveness, and environmental. This way you’ll avoid being stuck with a janitorial service that doesn’t meet your expectations – or worse – leaves a bad impression on potential clients. Make sure your business is ready before you start looking for a janitorial service! Good luck!

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Why Measures to Help Promote Women Empowerment Matter

Over the years, women have gained much in the workplace. While men are still paid more than women on average, they are becoming more common at the top of companies, particularly in traditionally male-dominated industries like engineering and construction. Despite the progress that has been made, women have hardly reached equality yet, and can still be subject to sexism in their workplaces and unfair biases in their treatment by society as a whole. This is why measures to help promote women's empowerment matter now more than ever before.

Measures To Help Promote Women

Progress is being made, albeit slowly. In most countries, more women are going to school and becoming more active in the business. More children worldwide attend primary school today than ever before - over 90% of the girls. Despite these gains, there’s still a lot of room for improvement. In developing countries, girls are two times less likely than boys to go to secondary school and when they do go to secondary school they have higher dropout rates than boys by age 15.

Measures To Increase Gender Equality

Gender equality—defined as equal access and opportunity for everyone, regardless of their gender—is a hot topic right now. In some countries, it’s made great strides, while in others women still have a long way to go. Women continue to face inequality across almost every aspect of their lives, from unequal pay for equal work and lack of educational opportunities to violence and harassment. While there are many measures that governments can take to help promote women empowerment, here are a few worth considering

Measures Of Equality for Men and Women

Recently there has been drive-by governments and corporations to ensure that men and women are treated equally. This has mainly manifested itself in efforts to hire more women for upper-level positions, or through corporate scholarships designed to help women who may not have access to education otherwise. While these may be great ways for companies and people in positions of power can help break down barriers, they miss a vital point: empowering women doesn’t just mean giving them equal rights or opportunities with men, it means eliminating barriers from them from an early age so that they have an equal chance at success as their male counterparts. They need more than just equality of opportunity, but equality of outcome as well.

Conclusion

Companies with higher percentages of women in senior leadership roles score better on workplace culture and engagement, and they’re more profitable. Companies with female executives (and above-average female representation in other areas) deliver 22% higher return on equity, 19% higher operating income, 30% higher total returns to shareholders, and 33% higher shareholder yield than companies without. Furthermore, among publicly traded corporations that have at least one woman on their board of directors or have a specific target for female representation among directors or senior managers, 75% outperform their competitors. For these reasons—and others—companies should consider promoting initiatives aimed at helping women achieve positions of leadership. The future depends on it.

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How to Build a Business Information System, Including 6 Things to Keep in Mind

Starting and managing your own business can be overwhelming. There are so many aspects to keep track of, and it’s easy to get lost in the details and lose sight of the bigger picture. If you find yourself struggling to stay organized or wanting to be more efficient in your business, this article will show you how to create an information system that works for you and your unique business needs. Read on to learn ways to build a business information system so you can focus on growing your company!

Before Starting

Before you begin building your business information system, take some time to plan. Make sure that you’re aware of all of your options and their pros and cons before deciding on one. This step can be huge in terms of streamlining both your experience and productivity. The best way to do that is by doing research; try searching for similar programs within your industry and see what they offer before committing yourself to one platform or another. Remember: It's not so much about knowing if any given tool has everything you want right now — it's more about seeing what you'll need down the road so that you don't waste money or time later on.

Select Product Type

The first step in building your business information system is determining which products you will offer. This can range from simple/straightforward to extremely complex. Keep it simple by only offering one product type for now (i.e., if you plan on starting an online retail store, start there). As your company grows and expands into different markets/product lines, you’ll have ample opportunity to develop distinct systems for each product line or market segment. For now, though, you need to figure out how all of your products are alike so that you can leverage similar functionalities across multiple product types.

What Product(s) Should I Focus On?

First and foremost, decide what you're going to sell. When choosing what product(s) or service(s) to offer your customers you need to consider two things: What is unique about your product/service? How will it be presented? How can you deliver value through your business without becoming just another company out there selling products/services that are already available elsewhere?

How Do I Set My Marketing Goals?

Defining your marketing goals is crucial—they’re often what will help you measure your success. It’s possible that some of your goals may change and evolve as you go, so it makes sense to be flexible and adaptable. But at least having a few objectives allows you to set clear expectations for yourself. For example, if one of your short-term goals is simply getting more people on your email list—and following up with them regularly—you can then create systems that help you accomplish that. Every time somebody subscribes via an email opt-in form or social media subscribe button, they’ll be added to an email sequence about x topic.

Which Platforms Should I Use?

There are many business information system platforms and it’s difficult to pick one that will work best for your company. The key is deciding what exactly you want your business information system to do. Consider where your needs are greatest, which tools are available or affordable, and what you’re comfortable with based on experience or research. 

Your business might also have some limitations set by industry regulations, so make sure you find out what they are before deciding on a platform. Once you narrow down your options based on these criteria, it should be easy to choose which platforms make sense for your situation.

What About Customer Service?

Customer service is one of those back-office systems that you’re probably not very keen on, but it can be vital for keeping your business afloat. If you don’t answer your phone and respond to customer questions via email and social media, you could have serious problems down the road. Don’t ignore customers when they have questions or complaints! And if customers are so frustrated with your response time that they complain online, there’s a good chance they'll never do business with you again.

Conclusion

Document Everything! I know it sounds obvious, but so many businesses don’t have anything documenting their business processes. This means no one is clear on how things should get done or who is responsible for doing them. Documentation can be simple and straightforward—just a page of your notes every day with a heading of What Happened Today? can be incredibly useful when it comes time to review everything at year-end. Make sure everything gets documented somewhere—it doesn’t even have to be your software system—but it must exist somewhere. That’s what makes systems work!

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The Worst Accounting Mistakes You Could Ever Make

On the surface, accounting seems like an incredibly boring topic to think about, especially if you’re not in charge of it at your company. But what you may not realize is that poor accounting can actually be the thing that sinks your business or causes you to lose money in ways you can’t even fathom until it’s too late. Below are the worst accounting mistakes that businesses often make and how you can steer clear of them.

1) Paying Too Much Attention to Tax Planning

If you have enough money in your business to worry about taxes, you likely don’t have much of a business at all. Taxes are important and you need to be organized, but obsessing over them is not going to get your business very far. The issue with paying too much attention to tax planning (if there even is such a thing) is that it takes up valuable time and energy that could be used more effectively elsewhere. Take these tips on board and start working smarter today

2) Not Enough Record Keeping

Keeping accurate records will be one of your most important jobs as a small business owner. Not only do these help you run your company more efficiently, but they’re necessary when it comes time to file taxes and determine your tax liability. 

If you don’t keep records, here’s what might happen: The IRS will assume that all of your expenses are personal in nature and may come after you for taxes and penalties. Your books may appear in disarray when it comes time to sell or liquidate your company. It can be difficult to manage accounts payable and receivable if you don’t know how much is owed to whom.

3) Trusting Your Accountant Fully

I'm not saying don't get an accountant. What I am saying is that you shouldn't be so quick to put your accounting in their hands. If you do decide to hire someone, check references thoroughly and question them about what they've done in certain situations. 

Find out how long they've been practicing their craft, what kinds of businesses they usually work with, and if they can provide case studies that match your needs. If they're unwilling or unable to answer any of these questions (and trust me, you'll know), it's time to go with another option.

4) Hiring the Wrong Accountant

One of my biggest pet peeves when it comes to small businesses is accountants who only provide bookkeeping services for very little money. While it may seem like a great idea to outsource your accounting to someone else (especially if you're operating on a small budget), in most cases, you should avoid these companies at all costs. 

Why? If you’re not sure what your accountant should be doing or if they're using best practices, then there's really no point in hiring them in the first place. Hiring an inexperienced accountant can lead to any number of problems—from tax troubles to payroll issues—that will cost far more than an experienced accountant would charge.

Conclusion

Some of these might seem like no-brainers, but we’ve seen everything from screwed-up credit card transactions to double-entry errors so messed up that they required an audit. If you’re making any of these mistakes, don’t beat yourself up too much—we all make mistakes and we can always learn from them. And if you haven’t made any of these mistakes yet, good for you! Now all you have to do is learn how to avoid them in your own business and watch out for them when clients come knocking with work for you.

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5+ Tips for Saving Money With Business Insurance

Whether you’re buying insurance for the first time or trying to figure out how to save money with business insurance, you want to make sure you get the best value out of your premiums. To help you do that, we’ve put together this guide with 5 tips for saving money with business insurance. You can implement them on your own or reach out to an agent who specializes in helping businesses like yours maximize their coverage without breaking the bank. Let’s get started!

1) Know what you need

Before you get insurance, make sure you know exactly what your business needs. There are some types of coverage that every small business should have, but some are more optional. Generally speaking, you want to make sure you have protection against different kinds of property damage and personal injury liability. 

But beyond that, think about how your company's assets would be affected by certain circumstances—the riskier or more expensive it is to replace those assets if they're damaged or destroyed, the more insurance you'll want to purchase. For example, if all of your equipment is easily replaced with relatively cheap computers and office furniture—and replacing them wouldn't create a big impact on your cash flow—you may not need specific policies to cover them in case they're stolen or destroyed.

2) Avoid paying for too much

When shopping around for insurance, make sure you’re not overpaying for extras. Be sure to read your policy carefully to make sure you are getting exactly what you paid for. For example, check to see if your company provides comprehensive packages or if you can shop around on your own for business liability policies. 

Overpaying will only drain your money and maybe put unnecessary risk into play. Rather than taking a gamble with additional coverage that could end up being useless in an emergency, take a step back and assess whether or not that extra coverage is worth it—and if it isn’t, don’t pay extra! You may just be surprised at how easy it is to save some cash without adding more risk than necessary by removing excess coverage from your plan.

3) Don't just compare prices

Sure, a price comparison site is a quick and easy way to find competitive quotes from multiple insurance providers. However, there are many factors that affect how much your business pays, so you'll need to do some extra legwork to make sure you’re not missing out on important details or better deals. 

Compare Price: What Can You Do With Your Price Comparison Data? To start saving money on business insurance, figure out what type of coverage you want and research all of your options before getting quotes. It may be tempting to shop based only on price, but if you don't know exactly what kind of coverage and limits your company needs (and how much it'll cost), then you're likely paying too much.

4) Don't cut corners

Cutting corners can save you money on your business insurance policy, but it can also lead to problems down the road. Many of today's businesses are run by Millennials who want to start small, but end up growing rapidly. You don't want to buy a one- or two-person policy only to find yourself needing bigger coverage in six months—and having no way to get it. 

Get an all-encompassing policy from day one so you never have to worry about whether your current coverage is enough later on. If you do find yourself shopping around for larger policies at some point, make sure you keep good records of all your insurance needs over time so that switching providers don't put you in a bad spot and potentially cost you more money than necessary.

5) Review your business insurance annually

Reviewing your business insurance annually is not only a good idea, it's also standard practice. You'll want to consider any changes that may have occurred in your business over that time period. For example, if you recently hired a new employee or started storing products on-site, you should ensure those needs are reflected in your coverage. Here are 10 more tips to help you save money with business insurance

Conclusion

While some people believe they can't afford to purchase business insurance, we think you'll find these tips easy and simple to follow. You'll be surprised at how much more affordable your policy can be. Not only that, but your premiums may even go down over time as you continue to save money with business insurance! So what are you waiting for? Start saving now!

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10 Things You Need to Know Before Starting a Small Business

Starting your own small business isn’t always easy, but it doesn’t have to be difficult either. There are steps you can take before starting your new company that will help make the process much easier down the road. Follow these tips to make starting your own small business an easy affair.

#1. Starting a Small Business is NOT Hard

Many people assume that starting a small business is hard, or even impossible. This could not be further from the truth. Starting a small business has never been easier, especially when you factor in tools like WordPress and Squarespace. In fact, there are so many resources for aspiring entrepreneurs out there today that it’s hard not to get started.

It’s been said that starting a small business is easy if you have passion and drive, but it takes to drive and persistence to turn your passion into profits. Many wannabe entrepreneurs quit too soon because they realize just how much work goes into running a business.

#2. Figure Out What You Can Do

Simply put, if you're starting a small business as an employee at another company, your job is clear: Do your best at work every day. If you’re self-employed and own 100 percent of your business, however, figuring out what you can do is more difficult. This section explains how I decide what projects and tasks to take on and which ones I pass off to my employees. It also covers whether or not you should hire help for certain things (such as office space or marketing).

#3. Understand Who Will Want to Buy From You

The first thing you need to know about marketing is who your ideal customer is. Try asking yourself these questions: What are their problems? What are their interests? How much money do they make? How old are they? Are they married or single? Do they have kids or not? The more information you can find about your target audience, the better. Once you have answers to all of these questions, write them down in detail. Next, try using Google's Keyword Planner tool to research how many people search for related terms every month.

#4. Decide on Physical vs Online Store

Establishing an online presence is easier than ever. There are dozens of new eCommerce tools that you can set up without writing code. But, if you want something custom or need help getting off of square one, there’s plenty of options for small businesses too. 

Have web design consultants like Squarespace or Weebly create stores for you, or hire experts like Shopify to build out your online shop and get it ready for customers. No matter which route you take, starting an online store will be less expensive than buying real estate and building out your own retail space.

#5. Write Out Your Budget and Look at Financing Options

How much will your new business cost you? If you’re relying on savings or loans from friends and family, figure out how much you need, how you’ll ask for it, and what conditions they may attach. A clear financial plan is crucial to making sure your business starts on solid footing. A word of caution: If people are pitching in money toward your new venture, tell them exactly what they’re getting into (e.g., share your financial plan with them). If they’re not interested in playing an active role in running the business, explain that they shouldn't contribute any money.

#6. Choose your Suppliers Carefully

Unless you’re providing a service, it’s best to stay away from wholesalers and go directly to manufacturers instead. They typically give you much better quality at better prices. If you can find a manufacturer who makes small batches of your product rather than mass-producing it, all of that is even better. It means there will be fewer middlemen, which means you get higher profit margins and don’t have to deal with large companies looking for profit themselves by adding on extra costs.

#7. Learn From People Who Have Done It Already

One of the best ways to learn how to start a business is from people who have done it. If you’re in search of successful businesses, look no further than an incubator or accelerator. These businesses were started by entrepreneurs just like you and have been through every imaginable trial and tribulation. 

One of their main goals is for aspiring entrepreneurs just like you to come in and benefit from their knowledge. Though they may not be able to help you out financially, they can offer guidance on what worked for them, what didn’t work for them, what questions you should ask yourself before launching your own business—the list goes on and on.

#8. Choose Software For Accounting

Choosing software for accounting is an extremely personal process. You’ll need to find something that fits your business, but most importantly your personality. Think of it as finding your best friend in Accounting software. So let’s go over some of what you should be looking for when evaluating Software for Accounting

#9. Hire Good Accountants and Lawyers – They Are Important!

One of our most important pieces of advice: Hire a good accountant and lawyer. They will cost you some money, but they’ll prevent you from having lots more money. If there is one thing we’ve learned from helping business owners over the years, it’s that too many small businesses don’t have good accounting or legal practices in place at their inception. When something goes wrong, which it inevitably does for every business, those companies are forced to hire attorneys and accountants on an as-needed basis at very high hourly rates.

#10. Have Patience And Be Realistic About Growth Potential

Starting any business is difficult. It takes hard work, time and money and it isn’t always easy (or quick) to achieve success. One of the best things you can do for your business is patient and realize it might take longer than you think for your small business to really take off. If you’re not willing or able to make that commitment, then entrepreneurship isn’t right for you (at least in that particular business venture). Remember: slow and steady wins the race—if you see rapid growth in your first year, think about what could go wrong when scaling rapidly.

Conclusion

Starting your own business is no easy feat, but with careful planning and proper execution, you’ll be that much closer to making it successful. Hopefully, these 10 tips for starting small businesses will help you create your own small business without worry. For more information on startup basics, visit SCORE's How To Start A Small Business section. It has everything you need to know about getting started!.

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