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Arlington Heights business law attorneysLarge, multinational companies seem to always be hiring. Proof of this can be seen in a typical Walmart where touchscreen application kiosks have replaced resumes and cover letters. Of course, a large company like Walmart may have a constant need for new employees, but it is also better insulated against hiring mistakes. As a small business owner, hiring the wrong person can be quite costly, and the process itself can consume valuable time and resources. Fortunately, there are some things you can do to prevent expensive mistakes and to make the recruitment process more efficient.

Know the Landscape

You may think you know where to find the best candidates, but are you certain? Before posting a job opening, it is a good idea to do your homework on where to find qualified applicants. This could include various online job posting sites, as well as local colleges, universities, and trade schools. You may be surprised to learn that there are more qualified candidates looking for jobs than you initially thought.

Be Specific About the Job

When you post an opening, you should already know what that employee’s role in your company will be. Avoid the temptation to create a general listing. Instead, be specific about the duties of the position and how the new  employee will fit into your culture and business plan. Be sure to list required skills and expectations, as well as possible challenges. The best candidates will be motivated to take on these challenges, giving them an advantage over the rest of the applicants.

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Illinois business law attorneyAs any business owner can attest, owning and operating a small business takes hard work. It is important for a business owner to always be coming up with new and innovative ways to promote the company’s success. If you are a small business owner, you should be trying to think of ways to help your business grow. You should be looking for new opportunities to expand your client base and drive up your profits. While there is not a one-size-fits-all plan for growing a small business, there a few general guidelines that could help you achieve your goals

Play to Your Strengths

Are customers drawn to your business for a particular product or service? Are there patterns regarding your most loyal clients? It may be tempting to try exciting new ways to generate revenue, but it is very important to keep your primary focus on your basic strengths—or “bread-and-butter” if you will. For example, if you run a coffee shop and customers love your custom roasts, you may wish to look for new ways to market your products with strong sales as opposed to eliminating your own brands in favor of new products.

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b2ap3_thumbnail_small-business-red-tape-regulations.jpgBeing a small business owner is unlike any job in the world. Challenges like finding the starting funds for a business, hiring good employees, marketing your business, and tax compliance are difficult obstacles to overcome. One such obstacle, which according to some is stifling small businesses across the U.S, is the burden of government regulations. The Code of Federal Regulations has grown to an astounding 175,000 pages. Many of these regulations can become quite problematic for small business owners.

Illegal Cookies Could Land Business Owner in Jail

One example of this regulatory burden has been making life difficult for a small bed and breakfast in Wisconsin. The owner of the B&B serves cookies and other baked treats for her guests. She takes pride in her work, but selling the baked goods could result in the owner being imprisoned for up to six months. There is a rule in Wisconsin law which mandates that if she wants to sell them, her baked goods must come from a commercial kitchen. So, if this B&B owner wishes to sell her cookies, she must find a way to finance an entire commercial kitchen. The cost of installing a kitchen of that magnitude would cost the owner an estimated $50,000.

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Cook County business law attorneys, small businesses, financial ruinSmall businesses are, in many ways, the backbone of American society. They represent a dream, a way of life, and take us back to a time when things were simpler, more personal. Small businesses were also key in helping the country find its way out of the Great Recession, and they provide jobs to 35 percent of America’s workforce. Sadly, many small businesses are also at serious risk for financial ruin because they are—like most working Americans —living month-to-month. If you are a small business owner, learn how you may be able to protect yourself from costly legal pitfalls.

Is Your Small Business at Risk? 

While there are some small businesses that have an effective safety net, most are at serious risk for financial problems. In fact, a recent analysis determined that, on average, small businesses have a daily cash outflow of $374 and an inflow of $381, leaving them with just a $7 difference between what they are making and spending each day. Furthermore, the average small business “buffer” reserve only covers about 27 days of closure. Some have as few as just 13 days.

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A small business is more than just an asset to the owners; it generates income, but also is a physical representation of hard work and dedication that you have put into the business.

Divorce can be a very big threat to a small business. With the right strategies and help from the right people, however, you can ensure that your business survives the divorce and remains strong long afterward.

Strategy #1: Getting an accurate and complete business estimate is essential

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