Employees Favor Minimum-Wage Hike - small business - employers - labor market

How To Find Out What Keywords Pay Best With AdSense

Most workers that are paid an hourly wage support a proposed increase in the federal minimum wage, even if it results in higher consumer prices and job cuts, a recent survey found.

Of 500 employees polled nationwide, 65 percent said they favor the wage hike regardless of its potential impact on consumer prices, while 50 percent were in favor if it meant co-workers might lose their jobs, according to Dominion Enterprises, a Norfolk, Va.-based media and marketing firm.

"Hourly employees understand that raising the federal minimum wage could lead to paying more at the cash register and a majority is prepared to do exactly that," Sharon Sewell, a senior director at the National Association of Workforce Boards, said in a statement. "Taken as a whole, the data suggests that there is popular support for raising the minimum wage, as 31 states already have."

A bill recently approved by Congress would raise the federal minimum wage from $5.15 to $7.25 an hour over two years. The bill, which also includes $4.8 billion in tax cuts for smaller employers, was attached to an Iraq war spending bill vetoed by President Bush earlier this month. It has since been attached to a second spending bill approved by the House and expected to be debated in the Senate this week

Employees Favor Minimum-Wage Hike - small business - employers - labor market

Inventor's fin a stroke of ingenuityCredit Cards: A Small-Business Financing Tool
Homebusiness Millionaires - Laura Dahl

Quick Query: Restaurants & Email Marketing

10 Things You'll Learn While Working At Home

Abby Weaver is the marketing director for Fajita Grill (Fajitagrill.com), a small restaurant with locations in Oswego and Fulton, New York, that successfully uses email marketing and its website to boost sales.
When did Fajita Grill launch its website?

Even before we opened the first restaurant, we had a website. It was just the basics with contact info, and was primarily used for online job applications. We were overwhelmed with responses and didn't need to run any newspaper advertising.

How do you promote the restaurant's website?

The website address is included in our email marketing. It is on our menus, fax order forms, table tents -- everything.

Does your email marketing work?

I know it's successful based on the response rate. We have about 300 coupons redeemed each month, a very high response rate for our list size. Compared to direct mail where I had less than half a percent response rate, this is a no-brainer.

How frequently do you email your specials?

I limit my email to once per month, and I have the coupons valid all month. I know nothing about website creation or HTML, but I can fill in the email form, upload my photos and play with the look. Then I hit "send," and all 1,667 customers receive my specials in their inboxes.

How did you go about building your email marketing list?

We started with emails we collected in store as people signed up for our frequency card. I had 650 email addresses a year ago. I continue to input the new frequent-eater card holders. I also added a box on every page of my website for email promotion sign-up. The email provider I use takes care of the subscribes and unsubscribes from my website, so this part takes no time. It's amazing how many people sign up from our website, upwards of 10 people per day some days.

Why should a restaurant have a website or an email marketing plan?

Even my 3-year-old daughter has a website. You need a website, even if it's only one page with your phone, fax and hours of operation. I chose to add my menus, printable fax order forms, photos of our food and the contact us and employment forms. But starting from nothing, I would start with a simple website and collect email addresses in the store and online.

Do customers really use your website?

I have had a few customers unhappy when they left the store who, for some reason, didn't ask to speak to a manager. They vented to us on the website, and the restaurant's owners get the emails so they see what a customers said. We can then call the customer and offer a gift certificate or complimentary meal and patch up what might have been a lost customer relationship. That outlet for feedback and our generous response goes a long way in showing customers how much we care.

Go to source.

My Secret: A PostSecret BookRobin Williams stand up comedy part 2
How couples run a home business without running each other down

What "The Secret" Means to Solo Entrepreneurs

5 skills that will help your startup thrive

Unless you've been living in a cave for the past few months, you've likely heard about the best-selling book, The Secret, and how it offers guidance and personal narratives about creating the life you want. The essential lesson of the book is how individuals attract (and create) the life they want through their thoughts, attitudes, and emotions. (The book's message is both more complex and subtle than this, but that's the telegraphic version of its theme.)

Whether you accept the full metaphysical premise of the project or not, the lessons of The Secret resonate with knowledge that successful entrepreneurs have understood for decades. So, with a tip of the hat to the creators of The Secret, here are seven principles designed to guide you in your solo business. Many are aligned with those presented by the creators of The Secret -- and all are based on my experience of working solo for more than two decades.

#1: Intention rules all.
Successful solo entrepreneurs understand that singleness of purpose is a potent force. There's no room for wishy-washy, "Oh, I'm thinking about having a successful practice," or "It would be really nice to increase my sales this year." Put a stake in the ground and commit. Recall the Goethe quote: "Whatever you can do or dream you can, begin it. Boldness has genius, power, and magic in it."

#2. Clarity is crucial.
Be specific in your targets. If there's no metric associated with a goal, you can never know your progress. Place specific parameters on what you want to achieve -- number of clients, revenue goals, time frame, percent increase over past performance -- and you'll significantly increase your chances for business success.

Similarly, be clear on what your company will and will not do. Avoid distractions from your central business focus unless you are certain they can generate a direct positive impact on your core competencies. When business challenges arise, it's easy to get tempted by unrelated business opportunities.

#3. Seek the joy.
Chase passion, not profits. If you build your company around your interests, it will sustain you during the inevitable tough times. Also, you'll be a natural salesperson for your products or services, since you believe in them so deeply. Chasing pure financial gain will only sustain you for so long; there must be deeper significance to your work for it to be personally and professionally satisfying. Build on your unique competencies to create a company that generates both money and meaning.

#4. Magnetize your connections.
Like attracts like. Be the type of person you want to associate with, the type of company you would like as a partner. If you're surrounded by negativity, look inside first and recognize its likely source. Successful soloists seek partners and clients who are positive achievers, individuals who are secure in their self-knowledge and in what they can contribute to the world. By focusing on the qualities of ideal clients and partners, you attract positive results in your business.

#5. Take action.
Merely thinking about having a successful company is not enough. Yes, positive mental focus and clarity are crucial, but you must also act. When your intuition gives you a nudge, move. When you sense the opportunity, step forward and seize it. Business success is guided by mental force, but it takes place in the physical realm.

#6. Expect the best.
Automotive entrepreneur Henry Ford stated, "Whether you think you can or you think you can't, you're right." Fear and self-doubt erode self-confidence, which is the currency of successful self-employment. Expect great things from yourself and your company, and put forth the effort to build the professional foundation to support your aims. Clients and customers want to do business with companies that are best-in-class. Industry leaders never have second-class expectations of their performance, and they work hard to ensure they deliver first-class results.

#7. Multiply the gratitude.
Give thanks for all that you have, for no matter what your situation, there is much to be grateful for. By focusing on your abundance, you attract more of the same. Appreciation given to customers, clients, partners, vendors, and other business associates strengthens those important ties. Gratitude also lightens your spirit during challenging times, and keeps setbacks in perspective. It allows you to celebrate every day of working solo.

These principles create the foundation for a successful solo business -- and offer an important set of signposts on your journey of self-employment.

Breathe New Life Into Your Online AdvertisingLewis Black-Hunting With Dick Cheney(stand-up comedy)
Why Stand-Up Comics Make Better Copywriters

Your First Business Tax Return

Stand up comedy de Rafinha Bastos (Casamento)

A checklist for first time filers of business tax returns

It’s your first year in business, and tax time has arrived. How does the new business owner prepare for getting those returns filed accurately, timely and achieving the most favorable results for the business?

Review the form completely

First, take a look at a copy of the business tax return you will file to see what line items on the return the government expects you to fill in with amounts. Also, if there are questions asked on the return, make sure you have the answers to those questions. These could include the nature of the business, is it your first year in business, and your business location. Make sure your chart of accounts has the correct categories of income and expenses for you to both manage your business and properly file your returns. While all businesses must keep complete and accurate records, many do not reach that mandate without an effort to insure they are in compliance with the law.

Accounting basis

One decision the owner must make is whether to prepare the tax returns on the cash or accrual basis.

Under the cash basis, income is recognized when collected and expenses are recognized when paid. Under the accrual basis, income is recognized when earned and expenses are recognized when incurred. While lenders will generally prefer to see accrual basis financial statements, tax returns can still be prepared on the cash basis even if the financial statements are prepared on the accrual basis.

A new business might have more unpaid expenses than uncollected income at year-end, and therefore might consider taking those additional net expenses as a deduction. This would be done by selecting the accrual basis. However, in later years when the business is profitable, receivables should be greater than payables, and so the business would be recording additional net income and paying more taxes if it had selected the accrual basis instead of the cash basis. Once you make the decision on which basis to use you will stay with it throughout the life of your business, although changes are permitted. Certain businesses, including those with larger revenues or inventories, must choose the accrual basis.

Depreciation method

The next decision to consider is which depreciation method to use. The Internal Revenue Service permits a first year deduction of up to $100,000 for most furniture and equipment, instead of writing off the cost over five or seven years. So most business owners would generally elect to take the first year write off. However, businesses without profits can’t deduct the first year depreciation deduction, although they can carry it forward to profitable years. A business in its early stages might consider taking the slower depreciation route so that most of the deductions will be available when the business has income and is a higher tax bracket than in the startup phase.

Home office deduction

Sole proprietors in home-based business locations should consider the ability to deduct a portion of their residence as a business deduction. To be successful in this widely contested area, the business area used in the home must be used exclusively for business. The business owner would measure both the square footage of the home used for business and the total square footage of the home. The resulting percentage of business use would be applied to home office expenses to determine the amount to be deducted. If the business has a loss, then a home-based business deduction is not allowed, but can be carried forward.

In order to properly account for the business use of the home, the business owner would first deduct the percentage of the real estate taxes and mortgage interest that would otherwise be taken as an itemized deduction. If there are still profits remaining, then other home expenses such as landscaping, and general home repairs would be allocated to the business and personal portion, and a deduction would be allowed for the business portion. Finally, if there is still a profit, then depreciation on the home is allowed on the business portion. To calculate depreciation, the cost of the home must be allocated between the cost of the land (which is not deductible) and the building. The building must then be allocated between the business and personal portions by the percentage calculated earlier. The resulting depreciation deduction is then written off over almost a forty year period, and the actual annual home depreciation expense would usually not be more than a few hundred dollars.

Non-employee compensation

Another piece to year-end tax returns is the review of independent contractors you paid to see if the government must be notified of their non-employee compensation. Your employees receive a W-2 form to identify their income and withholding tax. Similarly, your contractors who make $600 (as of 2004 tax year) or more would receive form 1099-MISC from you, and the federal and state governments would also receive a copy. Contractors who are corporations are exempt from receiving this form, but partnerships and limited liability companies with more than one member must receive them. If you wait until year-end to obtain the contractor’s social security number or employer identification number you might not be successful in obtaining that required information.

Have your contactors fill out form W-9 to give you the needed information.

Automobile expenses

Automobile expense can be a major expense for a new or existing business. The business owner should maintain an auto log to keep track of where and when he or she traveled to, who was seen, and if there was a business purpose to the trip. While some individuals only track business use, I recommend keeping the log for all auto expenses, since those who itemize their deductions can also deduct transportation as a medical expense, and as a charitable contribution deduction if active in a charity. The business tax returns will want to know when you placed the vehicle in service, and the amount of the business, commuting and personal miles for each vehicle for the year.

Self-employment tax

Profitable sole proprietors are sometimes surprised to find that self-employment tax ( social security and medicare tax for self-employed individuals) can be overlooked and may be a significant part of their total tax bill. Be sure to calculate these taxes as part of your total estimated taxes when paying quarterly estimates. Also be prepared for the April 15 surprise. Not only is the balance due for last year’s taxes, but also due is the first quarter installment of the next year’s taxes. Cash flow must be monitored to have these funds available.

This list covers only a few of the many items a new business owner should consider in preparing for the initial business tax return. Those who work with business tax preparers should also consult with them to determine in what format the business data should be transmitted to them for preparation of your returns.
____________________________________
Joseph L. Rosenberg is a Certified Public Accountant in Florham Park, NJ, specializing in working with entrepreneurs and small business owners. He can be reached at (973) 443-4332 or josephlrosenbergcpa@consultant.com.

Go to source.

The One Percent DoctrineThe Care And Feeding Of Your Future, Without The Soap Opera Drama And Trauma
Home-business rules get tougher

A Spartan's Guide to Business

Celebrity Castoffs - How To Make Money Selling Used Celebrity Clothing

When the movie 300 recently debuted, making more than $70 million during its opening weekend despite having no big-name actors, Hollywood was stunned. Many people have speculated that what attracted the audience was the over-the-top violence, the naked women and the special effects.

Maybe that helped--a little. But director Zack Snyder's film about Spartans bludgeoning Persian soldiers in a fight to the finish is also a business parable.

No, seriously. If you squint a little--and you probably will during some of the beheading scenes--the story resembles what an entrepreneur often faces when competing against a big corporation. It also offers some insight into what it takes to be an effective leader, inspire employees and create a recognizable brand. And, yes, this film can be ugly, but that's sometimes the nature of the business world.

Business Lesson No. 1: Your CEO needs to be a strong leader.
King Leonidas is as resilient as they come, in both the film and the actual historical battle that took place in 480 B.C. between 300 soldiers of Sparta, Greece and the Persian army. Although Leonidas is a warrior, he treats his family and friends as equals. His wife, the queen, is a partner, and he's smart enough to solicit her advice when it comes to business matters. He also spends quality time with his six-year-old son, teaching him the business (i.e., showing the little bugger how to fight).

But when Leonidas suits up and goes to his day job--vanquishing bloodthirsty enemies with his spear and shield--he's focused on what's best for the business and his employees; in this case, the kingdom and his soldiers.

Sure, his competitor, King Xerxes, through messengers he sends to Sparta, makes some powerful arguments for combining the smaller organization with the larger corporation known as Persia. For instance, if the merger goes through, Leonidas would be allowed to live, and his employees wouldn't have to see their families enslaved or worry about getting their limbs hacked off. But while Leonidas appears to mull the offer over, he's concerned that his people's way of life (think office culture) and his freedom to make independent decisions won't be allowed to thrive.

He firmly declines the deal by spearing and then throwing a bunch of Persian yes-men into what appears to be a bottomless pit.

Leonidas next prepares to stop the growing threat of a hostile takeover. He seeks approval from some grotesque oracles (his board of directors) to take 10,000 Spartan soldiers to fight off the Persian army, but he is rebuffed. And so, like all good entrepreneurs, Leonidas finds a loophole. He informs fellow Spartan colleagues that he's taking a walk, bringing 300 of his top-flight employees as body guards, and goes off to complete his business plan--to fight the Persians at the narrow cliffs of Thermopylae and frighten the immense army into fleeing.

Business Lesson No. 2: Train your employees and foster a culture that promotes loyalty.
The Spartans had a grim but effective process for making sure their society only contained healthy children. (If you don't already know what that process was, you probably don't want to). To put it mildly, their organization only accepted the best and brightest employees, who were trained and molded into effective killing machines. It sounds gruesome, but it's handy when your business involves protecting your community from a foe that aims to crush you.

Arguably, loyalty may be the most important aspect of a successful team. At one point in the battle, Leonidas and Xerxes meet up. The Persian ruler tries to reason with his foe, asking how Leonidas can possibly defeat him when "I would kill any of my men for victory."

"I would die for any of mine," replies Leonidas, suggesting that an employee who knows he's valued is going to fight harder for the company's survival than a miserable grunt in the firm. The king has a point. His 300 men are effective at killing what must be thousands of soldiers in the first few hours of the battle. And it's not that surprising. Xerxes literally walks all over his employees; but in Leonidas' enterprise, his staff takes ownership and pride in the company and has a stake in the firm.

Business Lesson No. 3:You need to have a strong brand.
Leonidas is no fool. He knows that his 300 men and several hundred more Athenian soldiers who tag along can't completely destroy the Persian army, which outnumbers the Spartan force at least 1,000 to one. But he figures that if the Spartans live up to their reputation by ruthlessly and efficiently killing the Persians, the enemy might flee. In other words, Leonidas saw the Spartans as a brand.

Leonidas is an early marketer, fully understanding the power of words and images. When Leonidas and his men literally build a wall of corpses they know their enemy will see, it's an advertising message to the rest of the Persian soldiers that come their way: The Spartans are a company of men you don't want to encounter. They clearly hope the message will spread by word of mouth.

Later, the Spartan CEO tells his competitor, Xerxes, "The world will know that free men stood against a tyrant, that few stood against many, and before this battle was over, that even a god-king can bleed." And because Leonidas recognizes how important it is for the general public to understand the Spartans' unique brand of power and will, he sends a messenger back to Sparta to tell the tale of their fight. Leonidas appreciates that even if he and his 300 men don't win this particular battle, educating the public about the company will help the Spartan brand endure long after he is gone.

The brand, in fact, has endured so well that almost 2,500 years later Hollywood made a movie about this battle. If you haven't seen 300 yet, be sure to study these lessons and then go see them put to use in the movie. Do that and you may suck all the joy out of watching a blockbuster action movie--but you'll wind up with one heck of a business.

[via entreprenuer.com]

Does Copywriting End After The First Sale Is Closed? Here Are Some Interesting Success Stories To Suggest It Keeps Right On GoinCell: A Novel
76 Smart Tech Solutions (part II)