While a successful alliance can add 17% or more to your bottom line, alliances between businesses are not only useful for increasing sales.
Six areas of your business can engage in and benefit from strategic alliances:
Topics: Business Operations, business management
Earlier this year, I presented on a topic called Be the CEO. That presentation mentioned certain questions that should be discussed with your trusted advisor, i.e. your Certified Public Accountant (CPA), Fractional Chief Financial Officer (CFO), or CFO, at the beginning of the engagement. One of those questions will be the topic of a two-part article series, How Long Do You Plan to be in This Business?
Topics: Business Operations, business management
The terminology for limited liability companies can be confusing. For instance: who are the members, managers and managing members?
All of the owners of an LLC are its members, similar to stockholders in a corporation.
There are two different possible management structures for LLCs: A manager managed LLC or a member managed LLC.
Topics: Business Operations, Business Best Practices, Legal, Strategic Planning
Great employees are a wonderful asset, but their individual heroics may not be healthy for your company.
Sooner or later you will move on from your business. When you begin planning for your transition, what will your company systems sound like when described to a critical buyer?
Topics: Business Operations, Strategic Planning
Learn how others do it. Download our guide to growth.
A lot of businesses think of Business Process Automation as nothing more than software purchasing, and approach it somewhat like shopping for gadgets; i.e. “hey, that looks handy, let’s buy that!” Sometimes this works out well, although frequently more work is created than is eliminated.
Topics: Business Operations
Last year, I wrote a post recommending some defensive moves to protect annual profits and cash retention as economic worries intensified. I followed it up with an article on how to establish a protective profit buffer with 10 cost saving moves.
Since that time, world economic prospects have turned down sharply. China reflects substantially worsening growth prospects. Commodities prices are declining. Oil prices in particular are in free fall, and energy investment and employment have been heavily curtailed. The stock markets have recently been trounced, with China down 20% and US and other western countries with double digit losses.
It is certainly time to take defensive moves, and at the very least develop a contingency plan. This time I went back to my fellow partners for a more comprehensive response to the prospective downturn. Here are four steps they recommended for a contingency plan.
Topics: Business Operations
Kay Oder has owned six companies, has been a resource to thousands to businesses and brought solutions to help business owners minimize risk, improve business performance and navigate today’s highly regulated and complex “business of being an employer”.
Today, Kay uses the insights gained throughout her career as a speaker, business owner and business advisor. Audiences enjoy her candid, informed perspective on HR related topics as well as her razor-sharp southern wit.
Kay is also a Certified Business Performance Advisor with Insperity, the $2.6 billion business performance solutions provider she has called home since 1993. Kay has consistently been among the company’s top producers during her 20 plus years with the organization, earning Insperity’s highest honors, including the Top Volume, Circle of Excellence and the Chairman’s Club awards.
Prior to Insperity, Kay was the President and Co-founder of Texas Valve Specialists, a supplier in the oil and gas industry. She has also owned companies in the construction, demolition, machining and promotional apparel arenas. She spent four years as a client of Insperity and upon selling her last venture, joined the Insperity team.
From an early age Kay demonstrated an entrepreneurial spirit, beginning at age six when she sold cantaloupes from her parents’ front yard, which she offered three for fifty-cents, with a free puppy.
Kay and her husband, Dale, relocated to Austin from the Houston area in 1996 when a theft occurred in their family: their granddaughter was born and stole their hearts, so they had to follow.
Insperity, a trusted advisor to America’s best businesses for more than 30 years, provides an array of human resources and business solutions designed to help improve business performance. Insperity® Business Performance Advisors offer the most comprehensive suite of products and services available in the marketplace. Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce Optimization® solution. Additional company offerings include Human Capital Management, Payroll Services, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Financial Services, Expense Management, Retirement Services and Insurance Services. Insperity business performance solutions support more than 100,000 businesses with over 2 million employees. With 2016 revenues of $2.9 billion, Insperity operates in 61 offices throughout the United States. For more information, call 800-465-3800 or visit www.insperity.com.
For most businesses, the end of the year can be hectic. Employees who scramble to use their vacation time during the holidays can leave businesses short-handed. As a result, it can create a scheduling headache as employers try to balance worker requests for time off with the need to stay adequately staffed.
Topics: Business Operations, Management, Human Resources
Many people are moving to Texas—for the jobs, affordable housing, low taxes, booming industries, and friendly people.
Topics: Business Operations, Legal, Strategic Planning, Taxes
Kay Oder has owned six companies, has been a resource to thousands to businesses and brought solutions to help business owners minimize risk, improve business performance and navigate today’s highly regulated and complex “business of being an employer”.
Today, Kay uses the insights gained throughout her career as a speaker, business owner and business advisor. Audiences enjoy her candid, informed perspective on HR related topics as well as her razor-sharp southern wit.
Kay is also a Certified Business Performance Advisor with Insperity, the $2.6 billion business performance solutions provider she has called home since 1993. Kay has consistently been among the company’s top producers during her 20 plus years with the organization, earning Insperity’s highest honors, including the Top Volume, Circle of Excellence and the Chairman’s Club awards.
Prior to Insperity, Kay was the President and Co-founder of Texas Valve Specialists, a supplier in the oil and gas industry. She has also owned companies in the construction, demolition, machining and promotional apparel arenas. She spent four years as a client of Insperity and upon selling her last venture, joined the Insperity team.
From an early age Kay demonstrated an entrepreneurial spirit, beginning at age six when she sold cantaloupes from her parents’ front yard, which she offered three for fifty-cents, with a free puppy.
Kay and her husband, Dale, relocated to Austin from the Houston area in 1996 when a theft occurred in their family: their granddaughter was born and stole their hearts, so they had to follow.
Insperity, a trusted advisor to America’s best businesses for more than 30 years, provides an array of human resources and business solutions designed to help improve business performance. Insperity® Business Performance Advisors offer the most comprehensive suite of products and services available in the marketplace. Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce Optimization® solution. Additional company offerings include Human Capital Management, Payroll Services, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Financial Services, Expense Management, Retirement Services and Insurance Services. Insperity business performance solutions support more than 100,000 businesses with over 2 million employees. With 2016 revenues of $2.9 billion, Insperity operates in 61 offices throughout the United States. For more information, call 800-465-3800 or visit www.insperity.com.
It’s common knowledge that starting a business can be exhilarating, fun, and profitable. It can also present daunting challenges, and many new ventures fail. In fact, according to the U.S. Department of Labor (DOL), only about half of all businesses founded in a given year are still in existence five years later. In addition, the DOL statistics show that around the 10-year mark the number of surviving businesses drops to about one-third of the original number.
Topics: Business Operations
One of the most common estate tax planning strategies is an Irrevocable Life Insurance Trust (ILIT). An ILIT is easy to understand and relatively easy to implement. In many situations it negates the need to incorporate other wealth transfer or estate tax reduction techniques.
Topics: Business Operations
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