In nearly every industry, modern business owners rely on technology to manage key parts of their businesses. That’s why I’ve written a series of articles that share tips to help business owners overcome some common technological challenges they face in 2018. In the first two articles, we’ve talked about cybersecurity and skills shortages. In this article, we’ll look at the third challenge: agility.
If you feel like a little fish in a big pond, you’re not alone. It’s easy to feel lost in a field with so much complexity to navigate amid globalization and advancing technology. Gleaning from insights we gathered about the future of manufacturing in central Texas, experts advise tapping into associations to keep up with evolving needs and conditions of the manufacturing ecosystem.
Joining a trade association can help you boost your business, enhance your reputation, and find solutions with a community of like-minded professionals and industry experts. Moving forward, committing yourself to continued education and resources is one of the best ways to stay on top of ever-changing news, trends, and legislation.
Demand for commercial lease space in Texas continues to be strong. According to Commercial Loan Solutions:
On March 1, 2018, Bisnow Houston reported that Texas leads the nation in commercial real estate development for warehouse/flex, including e-commerce distribution, fulfillment facilities and retail real estate. It ranks second only to California in office development.
Most small business owners recognize that maintaining a talented workforce is key to their company’s success. Although the majority of workers provide value to their companies, some have unique traits that make them high-potential employees. These workers are especially important to a business, as they can enhance a company’s bottom line and also become the next generation of workplace leaders.
High-potential employees often exhibit similar qualities as those of effective leaders. They are frequently self-motivated, goal-oriented and able to recognize the actions needed to meet objectives. They can be ambitious, rarely resting on their laurels, are often reluctant to sit back and let others take charge, and are unafraid of making mistakes that, ultimately, can provide them valuable experience. These leaders tend to be strong communicators who collaborate well with others and, as a result, are often respected by their colleagues.
To help the career development of high-potential employees, it is important for employers to devise a plan that includes the following steps:
Learn how others do it. Download our guide to growth.
Any financial investigation—specifically income tax (civil or criminal), embezzlement, shareholder derivative suit, and divorce matters— require books and records to be successful in tracing expenses and following the money. Without them, the chances of success are diminished.
A little over two years ago, there was a Facebook post that caught national attention. The post simply asked “What color dress do you see?” Was it blue and black or white and gold? Some people saw it one way and couldn’t imagine it be anything else. Others were uncertain because they saw it one color one day and another color the next. For the people who were sure they were right, they weighed in on the public debate, while others that were unsure may have chosen to hold back from weighing in. After a few weeks, the fervor died down and life went back to normal.
Such is the situation we find ourselves in with the conversion to a C Corporation. When the 2017 Tax Cuts and Jobs Act was passed, articles were written that touted all business owners would make the conversion to take advantage of the reduced tax rates. Nothing could shake these authors from their thoughts. There were other authors who were uncertain. Turns out, they are both correct. No matter where you land on the issue, business owners will respond based on how they feel.
When I tell people we are headed to Omaha for the Berkshire Hathaway annual meeting, some vaguely nod their heads. Others ask why we go when we can watch Warren Buffett and partner Charlie Munger online.
I first started going to Omaha fifteen years ago. As each year passes, the experience becomes more impactful.
Technology plays a key role in all businesses today. That’s why I’m sharing a series of articles to discuss the top four technology challenges that businesses face in 2018, and to provide practical solutions for each of them. In the first article, we talked about cybersecurity challenges. In this article, we’ll look at challenge #2: the technology skills shortage.
Across the country, companies are seeing a significant shortage of qualified candidates for key technology roles. The most pressing shortages are for proven, experienced technology leaders in high-demand specialty roles.
To be successful, a business can’t just hire more “techies;” they need tech-savvy business leaders that can quickly assess needs, leverage cloud services and new technology opportunities, chart an optimal course of action, and drive timely results. So how can your company best fill these roles and acquire the top talent?
The requirements for each state are different, but businesses that operate in another state are generally required to register as a foreign entity in that state. The term “foreign entity” refers to any company that is formed in a different state than the state where the company is conducting business.
Your company is required to register in another state if the activities it conducts in that state are considered “transacting business” in that state. Generally, businesses are considered to be transacting business in the state if they hire employees or maintain an office, store, warehouse or facility in the state.
I recently read through McKinsey’s recent study, “Making it in America: Revitalizing US Manufacturing.” A lot of the challenges facing US Manufacturers are similar to the challenges facing our country:
All of these things are more or less apparent in our region, and leaders need to consider the best approach for their organizations to move in this direction.