When it comes to obtaining funding for your business – a line of credit, SBA loan, or financing to buy equipment or inventory – having a strong business credit score can make all the difference in getting approved. Obtaining a solid business credit score is a little more complicated than just paying your loans on time. Unlike personal credit, it can take much longer to build your business credit since not all loans or vendor report to credit agencies.Continue reading “How to Easily Build Your Business Credit”
When you first launch your business, there is a lot riding on the entity type that you choose. How you structure your business affects your legal liability, tax obligations, the potential for growth, and compliance rules and regulations that you need to follow. To make it just a tad more complex, the business entity that you choose when you start your business, may not be the correct choice to continue with as the company changes and grows.Continue reading “Is it Time to Rethink Your Business Entity?”
Just because you are a small business, doesn’t mean you can’t make a big impact on local charities. In fact, about 75% of small businesses donate to charities every year. Small businesses play an important role in building their communities and serving those in need. As an owner, you are probably approached a few times a year by several non-profits in your area looking for some donation dollars to help them continue to do their good work. Of course, you can’t donate to everyone, so it’s important to donate to those charities that make the most sense for you and your business.Continue reading “How to Decide Which Charity Your Small Business Will Support”
When it comes to insurance, it’s one of those things that many people have a love hate relationship with. It’s great when you need it, but it’s often one of those expenses many people see as an opportunity to skimp on to save a few bucks. Afterall, how often do you really make a claim? If you don’t have the right coverage, it could cost you thousands!Continue reading “The Importance of Having Proper Insurance Coverage”
Whether you are meeting virtually or in person, one of the hardest parts of working in a team is coordinating and aligning each individual’s effort. Even with everyone on the team working hard and trying to be as productive as possible to get a project or goal completed, you may find that team members are crossing paths, duplicating efforts, or fighting over resources. If the team isn’t constantly in disarray and not working cohesively, the team and said projects will go nowhere fast.Continue reading “Are you making these team huddle mistakes?”
When it comes to borrowing money, it’s important to understand all aspects of the loan – not just your payment amount, interest rate, and number of payments to be made. There are many different types of loans including personal loans, auto loans, consolidation loans, mortgages, home equity, etc., however they all fall into one of 2 categories: secured or unsecured.Continue reading “Secured vs. Unsecured Loans – What’s the Difference and Why Does it Matter”
The only certainty right now when it comes to the Coronavirus (COVID-19) is that currently, everything is uncertain. Several local and state governments have issued a shelter in place orders asking people to remain home and only go out for the essentials. Many small, local businesses are feeling this stress as they have been forced to lay off employees, adjust their hours or services, or even close their doors for an indefinite amount of time.Continue reading “Tips for Small Businesses to Survive the Coronavirus”
When you find that your cozy little meeting space can no longer hold all your employees comfortably, it’s a sign you’ve grown as a company– and with growth comes change. Things might be running along smoothly and then BAM; you suddenly realize that the old way of doing things is no longer efficient or working.
Not only does growth affect the dynamics of the team, but it also affects you as the owner. As your company grows it’s imperative you spend more time working on your business versus in it. Time management is critical as you are dealing with more issues, making more decisions, and trying to communicate out everything you need to various people and departments – the only way to be effective and stay effective is to change and adapt as your team continues to grow.Continue reading “How to Adapt your Leadership Style as Your Team Grows”
The art of negotiation is arguably one of the most valuable life and business skills you can have. To some, it comes naturally. They are born with a skilled way of communicating that not only makes people relent, but they are happy to do so. For others, negotiating is both terrifying and difficult.
But not to worry, this skill can actually be developed by anyone simply by using the tips below:Continue reading “Business Tips: How to Negotiate Virtually Anything!”
With all the upheaval in the insurance market, many smaller private physician groups are either selling or consolidating. Albeit a big decision, it doesn’t have to be a painful one – the goal is to maximize the dollars and ease the transition for your staff and patients.
Before you consider the sale, you’ll need to determine what you want your role to be – will you retire, stay on as a staff physician, take on management and/or leadership roles – or a combination there of? Of course this is just some high-level personal things to consider, there are others such as business real property, equipment and other tangible items and employee benefits and everything in between.Continue reading “Best Practices for Selling your Medical Practice”