How to Run Your Small Business From Home

There are roughly 30 million home businesses in America at the moment. This movement has grown for several reasons. The advances in technology have made it possible for people within certain industries like sales and marketing to conduct their business remotely, and many talented craftspeople have developed online marketplaces to set up virtual storefronts. One of the trickiest parts of running a small business from your home is knowing how to get started.

Just like with any exploratory phase of a new business venture, you should begin by doing a market analysis of your competition. There is no point in putting your hard-earned efforts into a business that has little chance of succeeding. In addition, you should ask yourself a series of questions such as how much time you are willing to commit, whether you are talented enough to succeed, and whether it is something you actually enjoy. 

There are also tax issues to consider. Having a home business means that the physical headquarters of the business are your home, it is not the same as being employed elsewhere and working from home. There are three general types of business taxes. In addition to an annual income tax, some small businesses also have an additional estimated tax that must be paid quarterly to avoid penalties. The latter tax is for small business owners, freelancers, independent contractors who expect to owe at least $1,000 in taxes by the end of the tax year. There are also self-employment taxes to consider if you plan on getting social security and Medicare coverage. Any materials that are used by the business, as well as any transportation costs, can be declared on your tax returns. It’s important to seek financial advice from an expert to take full advantage of 

Once you have decided to start a business from home, it’s important to designate a workspace that is unique to and separate from your living environment. For most people, an office is sufficient. This is not only to keep personal and professional items separate but also allow you to mentally and physically leave work at the end of the day and feel a sense of returning home to your personal life. Just like separate bank accounts, it’s important to know where the keep business and personal things separate.

This article was originally published on https://adammarquardt.co/

The Importance of Team Building

The value of building teamwork is something that cannot be understated, especially within an office environment. Having the ability to work well with others is an advantage that will not only set you apart from your competitors but from a business point of view, a good team leads to an increase in employee morale and a sense of cohesiveness that, in turn, leads to more successful projects being completed at a much faster rate. 

Studies show that businesses that encourage collaboration and co-operation between staff are more successful in the long run. The reason is that human beings are social by nature. We thrive in an environment where we feel a connection to others, so in order to be at ease, we need to be able to explore our creative sides. In the past, our connections with people typically happened during off-hours, but more and more frequently it has become the norm to blur the lines when it comes to regarding peers and management as fellow humans in addition to simply coworkers. 

There are many ways to practice team building. Sometimes opening a meeting with a quiz or a game, or even a trust fall is a great way to break the ice. Ask people to anonymously give office shout-outs to credit outstanding team members and then announce them office-wide. Depending on how much time and budget is allotted, businesses might schedule anything from a group luncheon to a weekend away. There are generally four categories that make up the world of team-building exercises. These activities can range from a focus on communication, problem-solving and decision making, adaptability and planning, or trust-building. Regardless of which one is chosen, each one of these activities carries over into the workplace to help people work better as a unit. 

Public praise is something that has been proven to inspire people. Establishing a friendly rivalry among team members is a great way to explore people’s individual strengths and help them work together to earn rewards. It gives people the chance to see how well they can perform under pressure without the added stress of an actual deadline. One of the best outcomes for team building is that the activities actually work to improve both group and individual performance.

This article was originally published on https://adammarquardt.net/

Check Out These Blogs If You Want To Know More About Business

Starting a business is a challenging adventure. Having experienced business owners and entrepreneurs to navigate the business world provides a valuable resource. Subscribing to various blogs is an easy means of gaining worthy advice. However, as millions of blogs are published daily, locating beneficial sites may become overwhelming. But, there are some highly recommended sites available that are worthy of a look.

Bplans

The site provides help for individuals starting a business. However, many articles found here are also valuable for the growth of any business. Some of the numerous topics covered include creating business plans, working from home, and how to hire the best personnel. Visitors may sign up to receive a newsletter via email on a weekly basis.

Wistia Blog

The site specializes in multimedia marketing, which is a helpful tool for marketers and business owners alike. Videos enable businesses to introduce products and services or provide a bit of education. The blogs offered by the website include marketing tips and tricks. Learn how to create a video, stream live, or host a webinar. Discover the techniques needed to develop and grow a business for the long-term.

Hubstaff

The blogs are devoted to inspiring small and medium-sized business owners to plan and grow to achieve success. In addition to various helpful articles, visitors have the opportunity to download a time tracking app that enables business owners and their teams to track the time spent on accomplishing various tasks on a variety of apps and operating systems. The software is also helpful for developing invoices, paying employees, monitor reports, and more.

Shopify

The blog contains articles on a wide selection of business-related topics from business ideas and writing business plans to marketing. Learn how to write product descriptions that gain attention. Discover what it takes to set up an online business. Explore how to increase profit margins. Take the free training course to learn the steps needed to grow a business.

Duct Tape Marketing

The site was designed to help the small business owner. The articles available are written by seasoned experts from many fields in the business world. Thus, there are topics of interest that prove valuable for a wide range of businesses. The site additionally features a library filled with insightful ebooks, which are available at no cost.

This article was originally published on AdamMarquardt.co

The Most Inspiring TED Talks For Leaders

Leadership styles vary from person to person and the following TED talks show just how diverse some leaders approach leadership. When people think about leadership, they usually think about the power to influence, inspire, and create. However, leaders encompass so much more. Some amazing influencers, entrepreneurs, and business moguls have shared their outlook and methods of leading their teams. Many shared their successes and even failures when it comes to leadership experience. The following are some of the best TED talks for those looking to take on a leadership position:

How Great Leaders Inspire Action – Simon Sinek

In this TED talk, Simon Sinek explains the key similarities in leaders like Martin Luther King Jr., Steve Jobs, and other influential people. He explains that the key difference between leaders and everyone else is that leaders take the road less traveled and do things oppositely from the rest of the world. He explains this concept of starting with the “Why” as the Golden Circle. Once a person knows what they want to do and why they want to take those actions, they are in a better position to lead others. Great leaders always have a mission and vision that they want to share with others.

How to Start a Movement – Derek Sivers

Derek Sivers shows a 3-minute video of a man dancing in his speech. During this video, the man is dancing by himself at a concert a being recording unbeknownst to him. In the video, the man is not looking over his shoulder to see who’s judging him or who will join him. Sivers explains the power of having confidence and certainty in what one does as a leader. By simply displaying a high level of pride and confidence, this inspires others to join which ends up creating a movement.

Dare to Disagree – Margaret Heffernan

Margaret Heffernan explains the implications of sitting in what she calls “echo chambers”. Leaders ask questions that no one else asks and challenge the status quo. This is why many great leaders stand out from the rest. By daring to disagree, leaders step outside the box and find new solutions for reoccurring problems. By disagreeing, there is more constructive conflict. By agreeing on everything, no real progress is made and people become stagnant in their progression.

This article was originally published on AdamMarquardt.net

Top 5 Great Podcasts About Leadership

To become a formidable leader, failing and adapting is apart of the job. Aspiring leaders can learn from those who have tapped into a recipe for success and avoid mistakes wherever possible. With the vast and wide-ranging medium of podcasts, companies, entrepreneurs and coaches offer the expertise that inspires employers to evolve and triumph. Cultivating a lifestyle that leads to greatness will become well-defined after enjoying these top five podcasts about leadership.

Leadership and Loyalty

Cited as Inc. Magazine Top 100 Leadership Speaker, Dov Baron explores emotional intelligence to generate success both at home and at work. Baron’s podcast Leadership and Loyalty offers guidance about living a purpose-filled life and cultivating a sense of self.

Harvard Business Review

With over 300 episodes available, Harvard Business Review proves there are meaningful lessons to learn from former presidents, entrepreneurs, and world explorers about leadership. HBR IdeaCast speaks with experts to offer refreshing perspectives about business and management. HBR’s podcast network deepens its coverage further by also intersecting anxiety, women at work, and crossroads in culture in the workplace.

Engaging Leader

For more than 25 years, communication expert Jesse Lahey knows engagement, trust, and passion are fundamental values that help turn any vision into reality. Connecting with listeners and guests on Engaging Leader, Lahey teaches the vital components in flourishing healthy relationships and making an impact on those who contribute to one’s road to success.

No Ego

International business consultant Cy Wakeman believes that leadership is not about aiming for perfect satisfaction surveys from employees, but promoting self-awareness. When neither exists, it’s impossible to create a productive environment. Her podcast No Ego offers authentic guidance on cutting corners with drama, eliminating entitlement, and relinquishing ego to mentor growth and drive big results.

The School of Greatness

Ask any CEO, public figure, or start-up owner about their lives, and they will offer lessons about failure and overcoming obstacles. This is exactly what entrepreneur Lewis Howes implements in his podcast The School of Greatness. Conducting interviews with industry leaders across the board, Howe’s dynamic discussions with guests leave listeners motivated and inspired by the hard-knock school of business and life.

This article was originally published on adamMarquardt.net

Awesome Podcasts About Small Business

There is no question that podcasting has become incredibly popular over the past few years, helping to entertain and educate millions of people with a variety of useful information. It seems as if there are podcasts about virtually every subject, and that includes small businesses.

Indeed, there are many great, high-quality podcasts about small businesses by small business experts. Here are a few examples:

• Entrepreneur on Fire: This show, hosted by John Lee Dumas, features interviews with a variety of small business owners and entrepreneurs. On the show, Dumas interviews the owners and discusses their journeys, backgrounds, and experiences. The show is a great source of inspiration and storytelling for people who are interested in them.
• Real Money Talks: This show is hosted by Loral Langemeier. It’s one of the more frequently updated shows, often broadcasting two episodes a week. It also frequently deals with current events: Langemeir’s most recent two shows deals explicitly with COVID-19 and how business owners can cope with the ongoing pandemic.
• Ambitious Entrepreneur Show: This show is hosted by Annemarie Cross, the self-professed “Podcasting Queen” of Australia. Cross has won numerous awards for her various podcasts and this one is no exception. On this show, Cross gives specific, solid pieces of business advice, using the experiences of her guests to illuminate the various lessons of the show.
• Support is Sexy: With a name like that, you can’t go wrong, right? Support is Sexy is hosted by Elayne Fluker, and it focuses specifically on female entrepreneurs, using their experiences to inspire others. As a business writer, Fluker also draws upon her own experiences as part of each show. Off all the ones on this list, this show is broadcasted the most often, with episodes coming out on a daily basis.
• As Told By Nomads: Tayo Rockson, an expert on diversity and inclusion, hosts and produces this one. On this show, Rockson focuses specifically on business people he describes as “nomads,” or emerging business leaders who are digitally savvy and approaching the business world from an alternative perspective.

These are just a sample of the types of podcasts available, and there are plenty more small business podcasts to find. Spend a little time searching, and you will be amazed at what you can discover.

This article was originally published on adamMarquardt.co

Planning For Owner Succession In A Small Business

A succession plan is as valuable an asset (albeit intangible asset) as any other asset of a business. A viable succession plan can be a hedge against the devaluation of the other business assets or a reduction in morale or productivity. When interested parties know the intention of the owner, there is a feeling of stability and continuity.

Ideally, the business owner would like the luxury of knowing that the business will be passed along to a beloved family member. Perhaps a child, spouse, sibling, or close personal friend has expressed both a desire to continue operating the business and has demonstrated the necessary business acumen for continuing successful business operations. Other options include the sale of the business to employees, business partners, competitors, vendors, customers, and even total strangers.

A necessary step in the succession process is an accurate assessment of the business, including the current situation and expected future outcomes.

The relevant financial data including the value of company assets (as reflected on the balance sheet), and company income and expense information should be prepared in a transparent manner. Also, an honest appraisal of the future profitability and stability of the company must be presented to everyone.

The succession plan should be reviewed on a regular basis, at least annually, or at times of change. The longer the time of the planned exit, the more often the plan should be reviewed. There are numerous reasons that a plan may not be useful as time passes, and the business owner does not want a lot of “unforeseen circumstances”. For example, the original successor decides he or she does not want to continue in the business. The original owner may fall ill and need to leave the business sooner than anticipated. Certainly “what if” scenarios should be part of the plan.

There are many reasons why business owners refuse to prepare or delay preparing a feasible succession plan. The idea of a changing lifestyle, relinquishing control, or even consideration of one’s own mortality are reasons to not confront the inevitable life changes. However, if the business owner views the succession plan as a positive step that can benefit many people, the plan (and transition) can be a great experience.

This article was originally published on AdamMarquardt.co

Important Skills To Master As A Leader

There are some skills that those who want to lead must-have. Some people are born leaders and find the role of leadership very easy. Others may only realize they are leaders after facing many challenges. They have become leaders through all the skills and knowledge they gained along the way to becoming a leader.

Leaders have lots of self-confidence with a great ability to take the initiative in any situation while also being willing to take responsibility for every action they make personally. That means that leaders will finish a job no matter how tough it may be or how many obstacles they must go through. Leaders can also admit the mistakes they make and truly learn from them, using that knowledge to make sure they do not make those mistakes over again. Most importantly, leaders know how to move forward after those mistakes and get right back to working hard and doing their best!

The best leaders also realize how much of an impact they can have on the decisions and actions of those that choose to follow them. With that realization comes a commitment to help their followers make good decisions in a manner that is honest, fair, and positive. A good leader also has lots of energy and is persistent in accomplishing every goal with the ability to build good trust, credibility, and communication with other people.

Good leaders know that the success of any business or organization depends on all the employees that work hard to make it that way. Therefore, good leaders give those hard workers the responsibility to make important decisions. That responsibility gives them confidence that makes their work even better. Good leaders are also sure to praise those good workers which makes everyone even more effective.

A good leader has already learned how to manage their time and emotions. They know how to prioritize what is important in a way that is balanced and logical. What helps to make a leader great is their following, and a great leader knows how to create a vision that is compelling and clear to his/her organization. A great leader also knows how to use their own passion and dedication to their mission to inspire those around them to do and be their best every day.

This article was originally published on AdamMarquardt.net