Blair Stover

Small Business and Entrepreneurship

Archive for category Business

Things to Consider When Starting a Home Business

Mar 17

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Many people out there are looking into starting a home business, but many of them fail to succeed in the long run.  This happens because they don’t think things through.  If you want to have a successful home business there are some things to consider.

First you need to find something that you can effectively use your specific talents and skills on.  Everyone has special talents and skills.  Most people’s skills are derived from a talent such as communication or creativity.

You then start brain storming for business ideas that build off of those talents and skills that you have.  Start thinking about what type of business models will most effectively use your skills.  Do not limit yourself.  At this point in the process think of as many ideas as you can.

After your first brain storming session, start to think about your business ideas in more detail.  The fact is that not all businesses are going to work out of your home.  This is where many people give up, but don’t give up here!  Keep following the process.

The last two things to do are to determine a profit angle and then draft up a business plan to see if your home business is truly viable.  Remember that starting your own business doesn’t come easy, but if you put your skills and talents into an appropriate business model you can be very successful.  So don’t try the next home business scam short cut, there is no short cut to a successful home business.  It just takes hard work.

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How to Create a Company Culture that Inspires

Feb 15

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While creating a company culture during a recession is one of the cheapest ways to get the most out of an employee, but requires a company to inspire an employee to not only Blair Stover on Businesswork but to work well. Certainly it’s not the company’s responsibility to be an acting muse for an employee, however taking these four steps will enhance productivity, and better the retention rate of your business.

The first step for any corporation to take is to create a mission. Ask the employees to help create this, adding in a buy-in, making them feel a part of it. This creates a direction for the company to go and where the employees should lead it.

A corporation must then lead the charge, clearly verbalizing the vision and direction the company needs to go. This helps to build the excitement for the new culture, and makes the employees truly want to be a part of it. Posting this vision around the office and discussing it in a staff meeting, being sure to include where their ideas were included and tied-in, helps to do this.

Once the clear vision has been created, creating an award program that bribes employees to further buy into this new culture is a smart, if not necessary move. Celebrate when an employee does a job well, when they’ve been employed with a company for an ongoing number of years, and simply appreciate that they work there. You might also benefit by creating goals tied to accomplishments, which will create leaders within the organization who not only want to work towards creating this culture, but also want to live it.

The final step has little to do with the employees and everything to do with the employers. This is where you take a look at yourself, setting up reflection time, and make sure you are on track for what your original intention was. Inspiring your employees is one thing, but knowing the ‘why’ behind it is another. Taking the ‘why’ and analyzing how far your organization has gotten as to achieving it is critical. Be sure to scold yourself if an idea or direction isn’t leading you where you want to go. Also be flexible to make changes as needed to better get you to your goal.

Regardless of your reasons behind wanting to inspire your employees, doing so does help your company prosper, and is something that you cannot be successful without.

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New Years Resolutions For Work Productivity

Jan 4

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It’s hard to believe that 2010 is already over.  For some, the idea of this year being over marks a welcome change, and for others, the year opened new doors of opportunity and exciting change.  Whatever your feelings about a new year beginning, one thing is for sure: We can all use some ideas to stay as productive as possible.

Work productivity really comes down to mastering two areas: Organization and time management.  For the coming year, make it your goal to get a handle on these two areas of your work life.

For the organization piece, it’s a good idea to begin with a clean slate – or as close to clean as possible.  Take some time before the end of the year to “clean house.”  Get rid of the clutter and toss papers, notes, old magazines, and anything else you don’t need.  This applies to your computer too.  Move unnecessary files to the trash, and clean up your desktop so that you only have the files showing that you access most frequently.  When you take these simple steps, chances are, you’ll feel more productive right away.  We all work better with less clutter.

When it comes to time management, planning is the key.  Whether you use one of the many available technology-based applications on your computer or smartphone, or a good old fashioned calendar, the trick is to get as much out of your head and onto paper – or application – as possible.  This frees your mind to think about what’s most important, rather than whether or not you’re missing a deadline or a meeting!

Making resolutions to get a handle on your time and organization will surely improve your work productivity and make for a great and productive New Year!

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Benefits of a Home Office

Dec 18

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Working at home is common nowadays in this age of telecommuting. If you’re thinking of doing the same, here are some benefits of a home office:

A home office entitles you to certain tax benefits. You can deduct the business portion of real estate taxes, mortgage interest, rent, utilities, insurance, painting, repairs, and depreciation of your home office. But to do this, you have to use your home office strictly for business. If you’re using the computer in the home office to work but your kids are also using it to play games or do their homework, you can’t make any deductions. Consult a good tax adviser for advice on what you can and can’t deduct from your home office.

A home office gives you a good place to work. Without one, you’re probably working in the kitchen or in front of the TV. Either way, you’re distracted and won’t finish the job. With a home office, you can lock the door and concentrate on what you’re doing. Your family won’t disturb you and you can work quickly without interruptions.

With a home office, you can easily organize your things. All work-related papers and documents go there. That way, you can find what you want in a jiffy and your papers aren’t scattered around the house.

A home office can be used to manage your home too. This is a great place to take care of your household bills, personal appointments and other things that need your attention. This will help you put things in their proper perspective.

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Understanding Your Company Culture

Dec 6

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For any career minded person who works in a corporate environment, understanding your company culture is and should be something that you take into consideration.

Perhaps the most streamlined way of actually doing this is to take a gander at the employee handbook that you are issued, which most companies will issue to you upon hiring you for a position. There are dozens of corporate cultures that exist, and they can range from competitive models to team models – each with their own set of rules and company dialogue.

Many times those who do not adhere to a company culture will not fare so well with their careers at a particular company. Similarly, those who thrive and embody the set company culture will generally bode fairly well with their endeavors.

A good rule of thumb is to really take a solid look at any company that you are seeking to be hired at. Even ask if you can take a glance at the employee handbook if they are considering you for a position. Sometimes it may be better to look ahead, rather than to look back in hindsight later.

With so many varying brands of company culture, the more you know about the way that the company is run, and under which models it adheres to, the better. That way, you will be able to arrive at a decision that will put you in the hot seat to succeed, as opposed to later regretting your actions or loathing your new job.

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Find Me on Twitter: Blair Stover

Nov 16

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I’d love to connect with all of my readers on Twitter. Please find me on Twitter by searching for my name, Blair Stover.

Follow me, and let me know you have by tweeting me or leaving a comment on here with your twitter username!

I look forward to connecting with all of you!

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Business Networking Tips

Nov 2

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Do you want to advertise your business without wearing a funny costume or lugging around a heavy billboard? The best way to do this is through business networking. Simply stated, business networking is linking with other people, getting their trust, and helping them in order to promote your business. This can be done through several ways:

Participate in network meetings. This is the best way to meet different people. But don’t just attend any meeting. Be clear about your marketing goals and pick the right meeting to join. This will help you identify groups who will most likely benefit from your products and services.

Hold volunteer positions in organizations to stay visible and remind others of your expertise. This is a good way to show others that you can be relied on and share their concerns. If you project yourself as a competent resource person, people will consult you for ideas, advice and suggestions.

Stand out in the crowd by being different. Networking meetings are often full of people so attract attention by wearing a brightly-colored tie, unusual jewelry or nice smelling cologne. This will help people remember you and separate you from the crowd.

Don’t just go to meetings and hand out business cards. Interact with the people there by listening to them, responding well, and maintaining eye contact whenever you talk to them. Don’t go to a meeting acting like a zombie or robot. This will only hurt your business.

Understand what you do and what makes you different from others who do the same thing. This will help you identify your strong points and give you an edge over competitors. If you love your job, talking about how you can help others shouldn’t be a problem.

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Highlights from the History of Business Marketing

Oct 25

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When individuals or organizations sell their products or services to other companies that, in turn, resell them, make them a part of the products or services they offer, or use them to support their operations, this is known as business marketing, industrial marketing or business-to-business marketing.

For many years, business marketing was overshadowed by consumer marketing. Providers of goods or services sold directly to households using the mass media and retail channels. This changed in the 1970s with the appearance of several academic periodicals that have published studies on the subject and the holing of yearly professional conferences on business marketing. Business marketing courses are also more common nowadays than in the past leading to a shift to the former.

Business markets include products and services, local or international that are bought by businesses, government bodies, and institutions like hospitals or corporate offices for consumption or for resale. It doesn’t cover markets that deal with products or services aimed at personal use or consumption like packaged grocery products, home appliances or consumer banking.

How does business marketing differ from consumer marketing? First, business marketing uses shorter and more direct channels of distribution. While consumer marketing targets big groups through mass media and retailers, the negotiation process between the buyer and seller is a lot more personal in business marketing.

Many business marketers use only a small amount of their promotional budgets to advertise. This is often done through direct mail efforts and trade journals. But even when advertising is limited, it helps the business marketer make successful sales calls.

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Individuals Donate Far More than Corporations

Oct 18

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Nonprofits across our nation are providing necessary services to help rebuild our communities and move us forward through this recession. However, according to the Giving USA 2010 Annual Report on Philanthropy published by the AAFRC Trust for Philanthropy total charitable giving in the United States was down 3.6 percent in 2009 from 2008. That same report sited that 75 percent of that giving (approximately $227.4 billion) came from individuals.

Where does the money go? Thirty-three percent of all donations go to religious organizations. Typically people donate to their local church, synagogue or other place of worship. The next largest sector receiving charitable donations is education, with approximately $40 billion going to educational institutes.

Although corporate giving remains steadfast in the United States, there is definitely room to grow. We can all take heed and inspiration from the private sector and do more through our business endeavors to help out those around us.

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Accounting Tips for Entrepreneurs and Small Business Owners

Sep 21

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If you don’t have a lot of money and time to invest in outsourcing your accounting, you don’t have to worry. You can save a lot of time by learning the basics and doing some of the accounting yourself. Once your bookkeeping becomes more complex, you may want to consider hiring an accountant. But, for the time being, you can accomplish your bookkeeping and accounting tasks with just a bit of research and a little guidance. Here are tips to do-it-yourself accounting:

1. Educate yourself. Know the very basic regarding your finances. It may be obvious, but you should attempt to make your expenses less than your income in order to make a profit.

2. Keep business expenses separate from personal expenses.

3. Track and monitor files. Organize receipts and other files so that they are easy to access.

4. Try free accounting software online. There are many options available that will help guide you.

5. Review and reconcile information. Always double check your work. Having organized information will make it easy for you to cut expenses and file your taxes.

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