Month: January 2012

Get the party started sooner with workflow software

It’s an old saying in business that time is money.

For that reason, it is extremely fair to say that almost every business would be interested in software which could help them complete their day to day tasks as quickly as humanly possible.

Workflow software is an extremely popular investment for a lot of business for this exact reason. This software allows project managers to clearly and easily monitor projects so that each part of a task can flow neatly into the other without any delay. Many business owners may agree that it has become one of the most important features of any business process management scheme.

The way it does this is by via the automation of certain business processes which don’t need manual approval. This has become more key than ever in an era where the internet and digital software has become key to the running of most businesses. One key example of the usefulness of workflow software is when a product is ordered over the phone or through a business website.

When it comes to a product being ordered in these ways, there are lots of steps between the order being finalised and the product arriving at a customer’s doorstep. A lot of these steps can be made simpler and easier with the use of workflow software. Workflow software can allow approvals of an order to be transferred from department to department automatically. A notification of approval can also be sent automatically.

Some workflow software is designed to facilitate tasks such as routing, processing and integration between certain types of software and hardware. Business are advised to enquire which type of workflow software will be the most suitable for them.

The more research they do into the benefits of such an investment, the quicker they will be able to perform a variety of business processes and the sooner they can get the party started!

Best At Home Businesses For Stay At Home Moms

It’s tough these days to make all the ends meet in our financial lives. With everything becoming more and more expensive, and many employers actually offering pay cuts instead of pay raises, more and more families are requiring two incomes to stay above the financial waters. As a mother, however, you may desperately desire to stay at home with your children. Well, you can. Now, there are jobs for stay at home moms, but for the purposes of this article, I would like to focus a few home-based businesses that you can start with relative ease.

The first one is day care. Now, I’m not saying you need to do an overhaul of your house to convert it into a modern-day day-care facility. Simply watching a few children every day can easy bring in hundreds, even a few thousand dollars a month extra. Day care is very expensive, as you know, so if you’ve earned the trust of parents with young children, you can easily persuade them to allow you to take care of their children instead of some day care. You could charge dramatically less than the average day care, and still come out way ahead.

Another great opportunity that few moms consider is to be a freelance writer. You don’t need to be an experienced writer; you just need to have some knowledge in a given topic. Companies like About.com will allow you to write on topics at your leisure and pay you well for it. This is a great business to start because the work is provided for you, and you can do it whenever you like.

Now, as I mentioned, there are jobs for stay at home moms which you can certainly pursue as well, but being able to have your own business from home will allow you to have the maximum amount of flexibility to tend to the needs of your children and your home.

Start a Home-Based Business

Starting your own home-based business can be a fantastic opportunity. You have the chance to work for yourself, make all the decisions and major calls, and maybe even choose your own schedule to watch the kids while you’re working from home.

However, with the power and perks of a home-based business often comes responsibility. If this responsibility is not handled properly, it could land both you and your business in hot water. There are plenty of legal ramifications to consider with such an operation, and being prepared can help you avoid potential issues that could be costly both in time and money.

Legal Operation

One of the first things you’ll likely have to consider in a home-based business is whether your operation is indeed legal to operate. Many locales have a variety of zoning laws and restrictions. Even certain housing developments, apartment communities or condominiums may have guidelines governing the operation of a home-based business. Therefore, it is important that before you make any sort of sizeable investment to get your business up and running that you make sure you are in compliance with area zoning and business operation rules and requirements.

Insurance Needs

A home-based business can be convenient in that it allows you to work from the privacy and comfort of your own home. However, this also means that customers and clients may be coming onto or into your property on a regular basis. A simple trip and fall by a customer on your property could result in a lawsuit. By having the necessary business and liability insurance paid up and in proper coverage amounts, you could be better protecting yourself legally when it comes to the possibility of injuries or other issues that might occur upon your property.

Employees

Insurance can also be important if you are planning to have someone other than yourself working in and around your home. While many home-based businesses are sole-proprietorships and don’t have to worry about employees, should you have someone working for you on the premises, it can be critical that you take this into consideration when it comes to your policy.

It is also critical that you know and understand the state and federal laws governing employee/employer relationships in order to avoid lawsuits pertaining to discrimination, harassment, and other workplace violations. You can check with the SBA (Small Business Administration) or your state government to learn more about the rules that apply to your home-based business, ask questions or get advice.

Taxes

While you may have done your personal income taxes in the past, starting a home-based business may make tax season a bit more difficult. Not only might you have personal income taxes with which to deal, but you could have business taxes as well. If you have employees or are planning to delve into the realm of business deductions, property tax deductions for a home-based business, and similar tax areas, you may want to consider seeking the advice and assistance of a tax professional. Having your tax issues squared away can help keep you out of legal hot water when it comes to you and your home-based operation.

Billy enjoys informing his readers of their legal rights as US citizens.  He can help if you are looking for a criminal attorney in Houston that will fight for your legal rights as an individual. If you have been arrested for assault, then a Houston assault lawyer is available to protect you against any un-just accusations.

Insurance Coverage – Is Your Small Business Protected?

You know that you need insurance coverage for your home, car, and even your health, but did you know that your business needs protection, as well?

Many entrepreneurs find themselves starting a business by chance, stumbling into being an entrepreneur, and making it up as they go along. The thought that they might need to purchase a business insurance policy probably doesn’t cross their mind.

Even the smallest of companies should look at what type of insurance coverage they need. While many small businesses probably could get away with a basic business owners policy, many other companies need specialized coverage. Depending on what industry you are in, what your company does, and if you have employees, your business insurance needs may include specialized coverages not found in a basic policy.

Basic Protection

If you are in business, then you need business insurance, period. The simplest policy you can get will include basic liability insurance protection, and should also have coverage for business property. If your company owns a building, you will need a property policy that covers the structure, as well as all of your other business property including computers, office furniture, etc.

No matter the size of your company, you need liability insurance for small business coverage. After all, if you are in business dealing with the public, or other companies, your company will be liable for its actions, as well as the actions of its employees. Depending on your situation, there is other specialized liability coverage that may be applicable to your business.

Specialty Protection

Business liability insurance coverage comes in many different forms, depending on the needs of your company. Following are some examples of liability coverage you may need to consider:

  • Vehicle insurance – Any company operating vehicles in the normal course of business should have a commercial auto insurance policy. Also, if you use a personal vehicle for business use, you will need a commercial policy. Most personal auto policies don’t provide coverage for business use.
  • Workers compensation insurance – If you have employees, then you may need to purchase workers compensation coverage. Most states require you to purchase this coverage once you have a certain number of employees, such as 4 or more. Workers compensation is a no-fault coverage that protects employees that are injured on the job.
  • Other coverage – You may need to purchase other specialized coverage including product liability insurance, surety or fidelity bonds, and errors and omissions insurance coverage. Discuss your company’s specific needs with a licensed commercial insurance broker to see what insurance coverage is right for your business.

Correct Coverage Levels

Once you have determined what type of business insurance coverage you need, you want to determine what levels of coverage you require. Your insurance policy limits should reflect the amount of exposure your business has. It does your company no good having the right insurance policies if the coverage limits are set too low.

No matter what type of business you own, you will need one form, or another, of business insurance coverage. Unless you are in the insurance business yourself, you may be having a difficult time figuring out what coverages you should purchase. This is where seeking professional advice is a great idea. Talk to a business insurance broker about what insurance your company needs, and discuss with your accountant what your coverage limits should be.

It is cheaper in the long run to purchase the business insurance coverage that you need now, rather than waiting until it is too late and being found liable for amounts that have the potential to put your company out of business. If you don’t have business insurance coverage, then get it today!

About the Author: Marshall Davis started Talking Small Biz (TalkingSmallBiz.com) to provide a source for small business services and product reviews. His website features products and services that help the entrepreneur start, grow, and maintain a successful business.

Finding Money for Your New Business

If you are thinking about starting a new business, chances are you are looking for ways to finance your new venture; very few entrepreneurs have saved enough money to launch their businesses without outside funding. The number of choices available to entrepreneurs for business financing can be bewildering, but some of the most popular options are below:

Bank Loan

This is perhaps the most traditional route for entrepreneurs to obtain financing for their new businesses. Banks have a large source of funding available to them, even if they are less than eager to lend it out in this economic environment. However you will be hard-pressed to find a better interest rate on a business loan than from a bank. Of course, in order to get that prime interest rate, you will have to jump through a few hoops. Most banks have very strict lending standards, and they will want to see a detailed business plan that specifies your goals and profit projections. Although this is a time-consuming task, it is something you already should be doing.

Credit Cards

If you are unable to acquire a bank loan, it is always possible to finance your business with a credit card. The benefit of this approach is that it does not require approval, which greatly expedites the process. However you will pay for this speed with a very high interest rate on the borrowed money. This will put extra pressure on your business to become profitable quickly so that you can pay off the debt on your card. Generally speaking, credit cards should be considered just a short-term source of cash.

Family and Friends

Another way to finance your business may be to obtain money from family and friends through a personal loan or by selling shares of ownership in the business. Family and friends will tend to be far better partners than a bank, which may be quick to call in a loan if things go poorly at first. However tensions could easily arise if the new business eventually fails, which could lead to considerable tension within the family as everyone wonders where their money went. If you decide to go this route, it is very important that you clearly spell out the risks associated with a small business before asking for seed money.

Of course, there are many other options available to the budding entrepreneur, and you would be wise to investigate many of them. There is a lot of money available to finance new businesses, and if you have a good idea, there is a decent chance that you will be able to obtain some of that money for yourself.

Article provided by Touch Financial an online business finance service and solution company.