It’s impossible to keep up with all of the valuable advice being produced in the local business space. We’ve cherry-picked a few of the articles that matter most for business owners so you can get right to the good stuff.
[Recommendations] Turning Customers into Brand Marketers
The best marketing you can do for your business is to let happy customers do the marketing for you. Social media is one of the most effective channels you can use to encourage engagement and positive feedback from your best clients because their actions are visible to your entire follower base (and often to their followers as well). This article shares a number of strategies and tactics you can use to enlist clients in spreading the word about your business.
Why It Matters: If you’re like most local business owners, you probably don’t have a ton of time (or money) to spend on advertising and marketing campaigns. Even if you do, consumers are becoming more skeptical of brands tooting their own horns. Historically, the most effective kind of marketing has been word-of-mouth, and social media is the new platform for these referrals.
[Software] Small Businesses Adopt Software to Grow and Boost Profitability
In a recent survey of small business owners, 83% said that increasing time constraints are one of their biggest obstacles to achieving success. This time crunch has led owners to adopt new technologies in order improve efficiency. To date, the majority of small business software has supported back-office tasks such as accounting, payroll, and document management, but more entrepreneurs are moving toward adopting front-office software to help with customer-facing tasks. This article covers the most common types of software SMBs are adopting and what kinds of new solutions are on the horizon.
Why It Matters: Many business owners argue that they can’t afford to invest in software, but for a sole proprietor or 1-2 employee business, having systems in place to save time, improve accuracy, and provide an optimized client experience can mean the difference between staying afloat or going under. For larger businesses, software can provide the tools, data, and insights needed to grow rapidly.
[Payroll] What Business Owners Need to Know about Payroll
Source: The Globe and Mail
Payroll may not be any business owner’s favorite aspect of their job, but it’s one of the most crucial. There’s no quicker way to lose a valuable employee than to issue an incorrect paycheck or set up the wrong withholdings. This article covers five key topics that any entrepreneur needs to know about when it comes to payroll management: taxable vs. non-taxable income, employee records, regulations and standards, employees vs. contractors, and year-end reporting.
Why It Matters: Making payroll mistakes can not only cost you great employees—it can also cost your business a pretty penny with the IRS. Keeping accurate, accessible records and setting up payroll correctly for all employees will ensure that your small business keeps staff members happy while remaining compliant with government regulations.
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