7 Small Business Scams To Watch Out For

7 small business scams to look out for As if running a business in today’s economy is not tough enough, we also have to deal with fraud on top of it all. Fraud can cause a small business to experience financial effects as well as damage to your hard earned reputation.

Every year the BBB receives thousands of complaints from small business owners who fell for an invoicing scam or were misled into paying for products and services they didn’t want. Scammers aren’t always trying to steal money from a business; sometimes they are after a company’s financial or customer data and will use many kinds of high and low-tech methods for getting it.

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Upholding a Culture of Confidentiality

protection customer confidentiality According to a recent Trend Micro Global Survey, data loss is one of the biggest concerns for small businesses. It is hard to safeguard your company information if not all your employees think of its importance. Not everybody can appreciate the fact that ensuring the safety of your data is the lifeline to the success of your business.

Confidential information is entrusted to your company by your clients and it is done because they trust you and your services. It is natural therefore that everyone who represents your company in one way or another should be vigilant in protecting confidentiality.…

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Achieving The Right Balance In Employee Interaction

employee interaction

Operating a business, no matter which industry you enter, is vastly competitive. It comes as no surprise then that small business owners are especially critical of how productive their employees are. Low productivity is bad for business, we don’t need to be rocket scientists to figure that out.

One of the most common (and most obvious) reasons why there is a decrease in productivity is employee interaction. In a dog-eat-dog world, there’s still such a thing as too much and too little and both can result in loss instead of profit. Striking the right balance is crucial in ensuring that productive time is exactly what it should be: productive.…

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Kickstart Your Online Community With Your Offline Customers

Developing a thriving online community is a challenging task for many small businesses. But if you have a business with an offline component – a retail store or physical location, a call center, or any other offline way that you interact with customers and prospects – you can use this to your advantage. Don’t compartmentalize your thinking by trying to build your online community only with people that you reach online.

I suggest focusing efforts at first on bringing your existing (and happy!) customers into the online fold – this can really help build your community, grow your audience and kickstart organic online community growth.…

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Publicity for Publicity’s Sake

Internet marketing can be tough. You would need to have an effective strategy in place depending on what stage your business is in. The competition is fierce as everyone vies to take the top spot on search engine results.

There is a saying that bad publicity is still publicity and this is one line in marketing that reputable businesses should never cross. Take the case of the DecorMyEyes scandal. In a gist, the owner of this online eye wear business uses negative customer reviews to be on the top echelon in Google search.

It is a well-known fact that to be in the coveted top spot on search engines, you would need to have high page rank sites link to your site.…

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Planning Your Year-End Business Tax Strategies

planning your tax strategies While everybody else gears up for the holidays, small businesses should have another thing in mind apart from sales: filing taxes. As the fiscal year draws to a close, it is important that business owners review the current financial situation and start implementing strategies to help minimize your income tax.

There’s no better time than the present to start planning which tax strategies are best for your business, for you to get deductions. Before the holiday rush, business owners should already have a plan in place. If you don’t have one yet, now is as good a time as any to come up with one.…

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5 Bad Habits That Keep You From Getting the Funding You Need

bad habits that won't get your business funding

It’s common for small businesses to slip into bad habits that limit their ability to get funding. From unscreened customers to generous payment terms, here are some of the most common reasons lenders will not loan to small business owners.

1. Not putting profits back into the business

When you hear these pleasant words from your accountant, “You should take a draw before the end of the year,” think again. Building equity in your business has a positive impact on your ability to get funding. A lender always looks at your debt-to-equity ratio. The more equity you have, the better your ratio. …

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Reaping the Soft Benefits of Email Marketing

In my previous article, Making Money: The Economics of Email, I discussed the customer acquisition cycle and how email marketing fits nicely into that effort, acting as the grease to speed the process along. Email has direct financial benefits, but there are also a number of other benefits that are difficult to track. For example, if your logo appears in an email, you might not see sales from people who drove right over to your store to make a purchase, but it might make your website seem more familiar to a visitor who has seen the email, and that might make her more comfortable making a purchase at a later date.…

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