What Are Your Business Resolutions for 2015?

Small Business Resolutions You Can Implement for the New Year

I hope your plan on doing
more than this dog in 2015!

With the first month of the New Year almost gone already, it is hard to believe that some business owners have not begun implementing new changes and improvements into their company. While many of our resolutions have already been made for 2015, there is still time for small business owners to decide to make positive changes for the New Year. Just like most of us make resolutions and goals that will change and better our lives, owners can do the same for the company each and every year.

But, what kind of resolutions should these small business owners make? What kind of goals should they set for themselves, their employees, and their business? The answer is not as cut and dry as you may think and each business will have unique resolutions based on what type of company it is, its industry, and future expectations. If you are stuck on making business resolutions for you company, here are some creative ideas to get you started.

Focus on Business Growth

If you ask any small business owner what his or her dream is for the company, the most common answer you will get is that he or she wishes to grow the operation from small to a larger organization. While growth will sometimes come naturally through an expanded customer base or increased sales, it is sometimes important to take a leap of faith to get the business to the next stage. Many entrepreneurs believe that growth is a result of hard work, but growth can also be achieved through strategic planning.

Business owners may be at a point in their professional life where they have a new, big idea or a plan that will grow their business into the next stage. The only problem that might arise is being able to fund this idea. While waiting for the financial aspect of launching the plan to grow on its own through sales is one way to approach the problem, another is considering taking out a loan to move the company through the next phase – but, make sure to weigh all the options and consult with a financial advisor.

Request Advice and Best Practices from Industry Professionals

No matter why type of business an owner has or what industry they work in, chances are there is another entrepreneur out there who has been where they are and done what they want to do. In the small business world, there is nothing wrong with reaching out to peers and asking for their advice on a project or best practices for expanding the business. Chances are, the peer you reach out to has been through everything you are going through already and will be happy to lend some needed advice.

Be More Involved with Social Media

Many small businesses simply do not have the resources to have a dedicated marketing professional handle their advertising and customer relations. When the business owner is in charge of promotions, ad campaigns, and other marketing efforts, it can be easy to get overwhelmed. In recent years, social media has become the easiest, most effective way for a business to connect with its consumers so, as a business owner, if you do nothing else, make sure you are present and active on social media sites.

If you are still looking for the perfect work at home opportunity, you need to talk to Stacy O'Quinn. Stacy has created a six-figure income with a legitimate home business. Today, he helps other entrepreneurs using his opportunity and/or Dani Johnson training techniques. If you would like to learn more about Stacy and find out how he can help you create your own successful small business, click here.

*Photo Courtesy of Miquel Angel Pintanel Bassets via Creative Commons License

How to Be an Entrepreneur

Entrepreneurship and Becoming Your Own Business Mogul

Stacy O'Quinn
Work at Home Mentor

Everyone, at one point or another, dreams of becoming their own boss. They have amazing thoughts of opening their own business, working their own schedule and, of course, making a profit while doing it. A simple definition of entrepreneurship is developing a business from the ground up or coming up with an original idea and turning it into a profitable company. While the definition of entrepreneurship may be simple, the process and execution of becoming an entrepreneur is much more difficult than it seems.

Although we all dream of becoming an entrepreneur, it takes a certain skill set and mentality to recognize a unique opportunity, implement the right resources, and make the dream a reality. It is also important to know that opening a business takes a lot more than having a great concept – long hours, high financial investments and being able to connect with consumers. This may make opening a business seem like the hardest task to complete, but having these traits can help the process get a little easier.

Have the Ability to Plan Ahead

In order to be a successful entrepreneur, you need to be able to create and develop an organized, detailed business plan. Some of the most successful business owners spend months hashing out plans and making changes before they even consider having a grand opening. This business plan should include a variety of different kinds of information, including what type of business you want to open, how to market it, who your target audience is going to be, and how to finance it, among many other things.

Have the Ability to Be a Leader

A big part of being a business owner is being able to develop a vision and being able to inspire employees and partners to join you in the journey to realizing that vision. Businesses whose owners and employees are passionate about what they do are much more successful than those businesses whose employees just view their work as a paycheck. Being a leader is much more than just instructing employees what to do – it’s about motivating them to be as proud to work for the business as you are.

Have the Ability to Communicate Effectively

A great entrepreneur is the best sales person in his or her business – the passion for what is being provided to consumers, whether it is a product or service, comes across when talking to potential customers and is often the key to making a sale. If a business owner cannot communicate effectively, he or she will often miss opportunities to gain new customers and grow the business. There is no shame in needing help being an effective communicator and there are resources available to help hone this skill.

Have the Ability to Market

Marketing is an essential part of any business, no matter the size or the industry. A successful business owner knows how to advertise his or her company to the right people at the right times to maximize sales and is constantly coming up with new ways to market the business and keep interest alive. Having these types of skills gives you an additional opportunity to grow interest in the business and make consumers want to purchase your products or services and tell their family and friends about it.

Stacy O'Quinn become an entrepreneur and eliminated tens of thousands of dollars of debt within months. Today, he is  one of the most sought after work at home mentors in the business! Stacy would love to help you too! All you need to do to get started is click here.

Maximize Your Small Business Tax Deductions

Helpful Tax Tips for Small Business Owners

With tax season right around the corner, many small business owners should be starting to gather information to file their taxes, whether they know it or not. According to a survey conducted by Small Business Optimism, taxes are the number one problem for business owners in terms of preparing their statements and filing them on time. In order to help avoid the last-minute rush this year, make sure to follow these simple tax preparation tips to help you file your business’s taxes correctly and on time.

Begin at the Beginning: Start-Up Expenses

If you have just opened and began running your business, make sure you pay close attention to this tip. The U.S. Government encourages entrepreneurs to open their own small businesses and even offer a $5,000 in write-offs on their taxes for it. This write-off is meant to cover the business’s start-up expenses and help business owners get off to a good start financially. Some of the activities that are recognized as start-up costs include purchasing the business, employee hiring, training, and marketing.

Know Your Deductible Expenses

Small businesses are allowed to deduct the costs of running there company as long as the expenses being noted are necessary for business operation and not considered out of the ordinary. For example, if you have an item that serves both a business and a personal purpose, it should be allocated in such a way that only the business portion of the purchase is deducted on the tax statement (such as utilities, Internet, and cell phone). It is also important to remember that assets should be depreciated as they run the course of their useful life.

What About a Home Office?

In years past, trying to figure out the deductions and calculations for a home office was difficult. Now, the IRS offers a much simpler way for home professionals but they also have changed the criteria for who may claim this home office deduction. It is important to remember that in order to claim this deduction on your taxes, a portion of your home must be used exclusively for business and also be used on a regular basis for business purposes. If this is the case in your situation, you should be in the clear.

Classify Employees and Independent Contractors Properly

For those small businesses that have employees, classifying workers can sometimes be a struggle. Taking the step to classify these workers as “independent contractors” can be tempting considering the cost savings associated with the classification. It is important, regardless of the savings involved, to make sure you classify workers according to the law – there are strict rules dictating the proper classification of employees within a business and violating these rules can come with some heavy penalties.

What About Retirement Plans?

Retirement contributions that business owners make to themselves or to their employees can be deducted on their tax statement. The positive aspect of making these contributions is that the growth of the amount contributed to the plan will remain tax-free until it is distributed to the account holder. Contributions can generally be made right up to the tax due date, which means business owners can continue to make additions to the accounts even after the previous year has ended.

If you are still looking for the perfect work at home opportunity, visit StacyOQuinn.com. Stacy has helped dozens of entrepreneurs create their own business and a six figure income. For more information Stacy and his business opportunity, please click here.

*Photo Courtesy of Chris Potter via Creative Commons License

One Failure Does Not Make YOU a Failure

How to Effectively Turn Defeat into Victory

All of us have made mistakes in our lifetimes, whether it has been in our personal lives, professional lives, or both. In some cases, we have made more than one mistake and often those slip-ups consume how we feel about our current positions in life and about ourselves. It is important to remember, however, that making mistakes is just a part of life – we all make them and we are only human! What is more important than making the mistake is how we react to it and what lessons we learn from it.

Dani Johnson, a renowned motivation speaker and teacher, talks about making mistakes in one of her latest blog entries. In this entry, she stresses the importance of not giving up when mistakes are made and how simply changing your mindset about these kinds of slip-ups can make all the difference in how you view yourself. Ms. Johnson suggests to begin living your life “like a winner” and no matter your current mindset about setbacks, it is important to stop focusing on losing and start focusing on winning.

Do Not Get Discouraged

Ms. Johnson’s first tip to turning defeat into victory is to stop getting discouraged so easily. Making a mistake or being rejected is not the end of the world and although it is understandable to feel defeated or beat down when these things happen, it is important to brush off the disappointment and keep going. Instead of focusing on what made that moment in your personal or professional life embarrassing, difficult, or bad, try and focus on what you can do now to make the situation positive moving forward.

Use Defeat as an Opportunity to Learn

Going through a period of defeat is a great opportunity to learn from your mistakes. It is important to remember that you are not defined by the mistakes you make but how you react to them. Think about what your knee-jerk reaction is when you make a mistake – do you curl up in a ball of self-pity? Or do you shake it off, learn what you can, and move on? Ms. Johnson stresses the importance of  remaining teachable even through hard times and how your reaction to a mistake can change the outcome.

Do Not Be Afraid to Make Changes

Going hand in hand with learning from mistakes is making corrections. Once you have determined what went wrong and how it can be fixed, make sure to take action and implement those changes. If lessons are not learned and changes are not made from mistakes we encounter, nothing will improve and it is possible to continue making those mistakes over and over again. Ms. Johnson says that although the saying “practice makes perfect” may apply, “practice and correction” is really what makes a difference!

Ms. Johnson understands how it can be easy to get discouraged and not want to fight back when we make big mistakes in our lives. But, the only way to improve upon those mistakes and not make them again is to remain teachable throughout the situation and be sure to make corrections along the way. Remember – we are all human, we all make mistakes and how we react in these types of situations will be more remembered by our family, friends and peers than the actual mistake that we made.

Stacy O'Quinn has been using the techniques he learned in Dani Johnson training to create not only his financial independence, but to also help dozens of other entrepreneurs realize their financial dreams. If you would like to join the ranks of those that Stacy has helped, you are only one click away from changing your life forever. For more information about Stacy and how he can help, click here.

Get Your Small Business Tips from Today’s Business Leaders

Top Business Tips for the New Year

Stacy is a leader in the
Work-from-Home Industry

As we begin wind down another year, this is generally the time when we begin to think about what we want to do differently in the coming months, such as eating healthier, relaxing more, spending more time with loved ones, and working out. But as much as we make these resolutions for ourselves, we also make resolutions for our business. While we ponder what needs to be accomplished in 2015, here are some great business tips compiled by BBC Business News to help start off the New Year right.

Lead by Example

Danae Ringlemann, founder of the crowd funding website Indiegogo believes in the importance of being an example as a leader. She mentions a famous quote from Mahatma Gandhi that reads, “Be the change you wish to see in the world.” As an owner, it is important to let your actions speak as loud as your words. If you want a positive change to happen within your business or with your employees, it is important to be that positive change and make positive changes in the way you work day to day.

Get Back to Basics

Many business owners have grand plans to expand, add new products and services, or launch themselves fully into the digital marketplace. While all of these things are great for growing a business and staying relevant, the founder of Nutmeg, an investment company, Nick Hungerford says it is also important for small business to keep to the basics. “Don't over-complicate, and instead think about what your customers genuinely need. What will make their lives easier, richer and more convenient?”

Take Advantage of Resources

The managing director of Divine Chocolate, Sophi Tranchell, stresses the importance of taking advantage of resources and advice that is given from other business professionals. No one has all the answers and being able to cultivate information from others who have been where you are and are where you want to go is vitally important. Tranchell suggests planning what you want to achieve in your business and coordinate the external professional knowledge and internal skills you have to get you to that goal.

Work Hard

James Watt, the co-founder of Brewdog, a Scottish beer company, says the simplest way to see success in the New Year is to work hard but make sure you are enjoying yourself. Part of working hard is employing only the best people to work for you, those who share your passion and your vision and who will work hard for you and with you. Additionally, Watt challenges business owners not to be afraid to take risks, “Don't be scared to take risks … as the biggest risk to your company is when you stop.”

Keep Finances in Focus

“Never spend more than you are making,” says Rob Baines, co-founder of the frozen yogurt chain Snog, “and invite friends into your business with caution.” When a business starts to become successful, it can be easy to justify spending more money on company dinners and client lunches. It is important to keep finances in focus and ensure the extra spend is positive for the business. Business success will also bring people in your personal life out of the woodwork– make sure to approach these situations with caution.

One of the leaders in the work from home industry is Stacy O'Quinn and you can get him to help you with a simple phone call or email. If you would like to learn more about Stacy, his opportunity, and how he can help you, click here.