Small Biz Flash

👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

Small business owners, have you ever tried sending out a press release about a new product or an event at your company, just to hear crickets chirping in response? On today’s show, we’ll talk with an experienced PR professional about why most press releases flop, and what you can do to actually get results the next time you send a press release out to your community. Today’s guest is Claire Angelle, Founder of Angelle Consulting: Claire’s email: claire@angelleconsulting.com Claire’s LinkedIn page: https://www.linkedin.com/in/claire-collobert-angelle-5267b4a/ Angelle Consulting web page: https://www.angelleconsulting.com/ ---------- NEWS ROUNDUP 1 – Major credit cards announce settlement resulting in lower swipe fees for merchants https://apnews.com/article/visa-mastercard-merchants-swipe-fee-5f2a75674d472ef95af9f6fd426f1f6e https://www.nfib.com/content/press-release/competition/nfib-statement-on-credit-card-anti-trust-settlement/ 2 – Small business hiring slowed in March https://www.nfib.com/content/press-release/economy/nfib-jobs-report-small-business-job-openings-fall-to-pre-pandemic-levels/ 3 – Nearly half of new small businesses are side hustles https://www.foxbusiness.com/economy/surge-small-businesses-started-side-hustles ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! Go to https://sbsaccountants.com/ today to set up a free 30-minute consultation. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE Small business owners, do you pay yourself a below-market wage to keep your business profitable? Or maybe you take draws, but they might be sporadic and of varying amounts? On today’s show, we’ll talk with an experienced accounting professional about how this practice is hurting your business and how you can fix your own compensation structure. Today’s guest is Sharon Sheekey, Accounting Division Director at SBS Accounting & Advisors: Sharon’s email: ssheekey@sbsaccountants.com Sharon’s LinkedIn page: https://www.linkedin.com/in/sharon-sheekey-874093b0/ SBS Accounting & Advisors’ web page: https://sbsaccountants.com/ ---------- NEWS ROUNDUP 1 - Small Business Owner Optimism Dropped Last Month, Continuing Trend Since Last Summer https://www.nfib.com/content/press-release/economy/optimism-on-main-street-declines-as-inflation-looms-as-top-challenge/ 2 - Labor Department’s New Independent Contractor Rule Facing Lawsuits https://www.foxbusiness.com/politics/biden-admins-gig-worker-rule-facing-growing-pushback 3 - National Small Business Week is April 28 to May 4 https://www.sba.gov/national-small-business-week ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! Go to https://sbsaccountants.com/ today to set up a free 30-minute consultation. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE Small business owners, have you ever considered buying out a competitor to expand your own company’s capabilities and customer base? On today’s show, we’ll talk with a lending expert about how you can finance a business acquisition at up to 100% of the purchase price using an SBA loan. Today’s guest is Laurence Leopold, SBA Senior Business Development Officer at IncredibleBank: Laurence’s email: lleopold@incrediblebank.com Laurence’s LinkedIn page: https://www.linkedin.com/in/laurence-leopold-4496342/IncredibleBank web page: https://www.incrediblebank.com/ ---------- NEWS ROUNDUP 1 - Judge finds Beneficial Ownership Information unconstitutional, but ruling only applies to some businesses https://www.natlawreview.com/article/district-court-declares-corporate-transparency-act-unconstitutional 2 - Small businesses start to see some relief in the labor market https://www.nfib.com/content/press-release/economy/nfib-jobs-report-small-business-employment-slows/ 3 - Vast majority of small firms report financial and operational challenges https://www.fedsmallbusiness.org/reports/survey/2024/2024-report-on-employer-firms ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! Go to https://sbsaccountants.com/ today to set up a free 30-minute consultation. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE Google Trends is a powerful and completely free tool from Google that can help you stay ahead of the curve. It will help you understand your customers, and can inform decision making on marketing, research & development, and more. Google Trends: https://trends.google.com/ ---------- NEWS ROUNDUP 1 - The economy continues to be the #1 concern among small business owners, according to the latest CNBC-SurveyMonkey Small Business Index. Immigration followed at a close second place. https://www.surveymonkey.com/curiosity/cnbcsurveymonkey-small-business-index-q1-2024/ 2 - Small businesses facing funding challenges have increasingly turned to merchant cash advances, which have posed a threat to the survival of some. https://www.wsj.com/articles/an-easy-financing-source-pushes-some-small-businesses-into-bankruptcy-c2b2ad1b 3 - The National Federation of Independent Business released its top legislative priorities for Congress in 2024. https://www.nfib.com/content/press-release/economy/nfib-announces-top-10-small-business-policy-priorities-for-congress/ ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

NEWS ROUNDUP 1 - Small business owners continue to grapple with economic uncertainty, according to the National Federation of Independent Business’ Small Business Optimism Index. https://www.nfib.com/content/press-release/economy/small-business-owners-expectations-for-higher-sales-declined-in-january/ 2 - Many small businesses are still unaware of the new Beneficial Ownership rule from the Treasury Department that went into effect on 1-1-24. https://www.wsj.com/articles/small-businesses-must-now-report-ownership-information-to-the-government-but-many-dont-know-about-it-bb13f2b6 https://www.fincen.gov/boi 3 - Nearly a year after the run on Silicon Valley Bank, small business owners aren’t panicking about their business accounts that hold than $250,000, the amount beyond which the FDIC won’t insure deposits. https://www.marketplace.org/2024/02/12/banking-crisis-fdic-protection-businesses/ ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE The Department of Labor (DOL) has finalized its new independent contractor rule. There are six factors that you must use to determine if a worker is a contractor or an employee. The final rule goes into effect on March 11, 2024. Misclassifying employees as independent contractors can result in lawsuits and penalties, among other costs. DOL’s Small Entity Compliance Guide to the new rule: https://www.dol.gov/agencies/whd/government-contracts/small-entity-compliance-guide Today’s guest is Karen Moss, of Innovative Outsourcing: Karen’s email: kmoss@innovative-outsourcing.com Karen’s LinkedIn page: https://www.linkedin.com/in/karenemoss/ Innovative Outsourcing web page: https://www.innovative-outsourcing.com/ ---------- NEWS ROUNDUP 1 - Banks report that fraudulent ACH activity is on the rise, and this is a problem for small businesses. https://www.wsbtv.com/news/local/this-is-modern-day-bank-robbery-banks-say-ach-transfer-fraud-is-rise/VLKVTOBGNJBHNAQBX5MXJYL3HY/ https://fintech.global/2024/01/09/navigating-the-risks-of-ach-payment-fraud-strategies-for-business-safety/ 2 - The percentage of small businesses falling victim to cyber attacks is on the rise. https://www.hiscox.com/documents/Hiscox-Cyber-Readiness-Report-2023.pdf 3 - Small business owners think college graduates entering the workforce don’t have realistic expectations about the working world. https://www.campusreform.org/article/91-of-small-business-owners-say-colleges-are-giving-students-unrealistic-expectations-for-life-after-graduation-survey/24640 ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE A fractional chief operating officer, or a FCOO, can help you make your business life wonderful, getting you back to doing what you love in the business, which is likely not overseeing the daily operational tasks. * How to know when it is time to hire a fractional COO. * How a fractional COO helps you as the business owner. * What a fractional COO brings to the table. Recommended reading: Rocket Fuel, by Gino Wickman and Mark Winters. ---------- NEWS ROUNDUP 1 - The Department of Labor has finalized its new independent contractor rule, with big implications for small businesses. https://www.nsba.biz/post/news-dol-announces-independent-contractor-rule 2 - Recession fears are easing, which may explain why small business sentiment rose in December. https://www.nfib.com/content/press-release/economy/inflation-returns-as-top-business-problem-on-main-street/ https://www.vistage.com/research-center/business-financials/economic-trends/20240105-small-businesses-welcome-optimism-wsj-survey/ 3 – A record-setting 5.5 million small businesses were created last year. https://eig.org/2023-business-formation/ ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

NEWS ROUNDUP 1 – There’s reason for optimism about the economy in 2024, and that’s good news for small businesses. https://www.wsj.com/economy/what-to-watch-in-fridays-spending-report-inflation-closing-in-on-feds-target-0778037d https://www.cnbc.com/2023/12/26/the-us-avoided-a-recession-in-2023-whats-the-outlook-for-2024.html https://www.cnn.com/2024/01/01/business/5-reasons-to-be-optimistic-about-the-2024-economy/index.html 2 - Google recently rolled out a new small business attribute feature. https://blog.google/products/shopping/google-merchant-new-features-holiday/ 3 – The SBA is proposing to remove limits on loan eligibility for prospective borrowers who have a previous run-in with the law. https://www.smallbusinessroundtable.org/sbr-submits-comments-on-sbas-proposed-rule-reforming-criminal-record-eligibility-requirements-for-loan-programs ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE * What is the different between public relations and marketing? * What are the three tactics for PR? * How does a small business get publicity? How does the owner, who is usually the primary salesperson, get publicity? * How much of your knowledge and information is it OK to share? Today’s guest is Claire Angelle, Founder of Angelle Consulting: Claire’s email: claire@angelleconsulting.com Claire’s LinkedIn page: https://www.linkedin.com/in/claire-collobert-angelle-5267b4a/ Angelle Consulting web page: https://www.angelleconsulting.com/ ---------- NEWS ROUNDUP 1 - Small businesses are even less confident about economy now than earlier in the year. https://www.uschamber.com/sbindex/summary 2 - The National Labor Relations Board’s new joint-employer rule is continuing to face opposition from small business groups and from some lawmakers. https://www.nsba.biz/post/news-house-panel-moves-resolution-to-block-nlrb-joint-employer-rule 3 - Younger and smaller companies are particularly hard hit in the ongoing credit squeeze facing small businesses. https://www.pymnts.com/smbs/2023/young-smbs-cant-find-enough-business-financing/ ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE You’re probably familiar with Small Business Administration loans. SBA loans, as they are commonly called, are partially backed by the federal government. But there are other resources the SBA offers, some of which aren’t well known, which can benefit your company. We’re going to discuss just a few today. THRIVE https://www.sbathrive.com/ Assistance for small businesses with procuring federal contracts https://www.sba.gov/federal-contracting America’s Seed Fund https://beta.www.sbir.gov/ SBA Business Guide https://www.sba.gov/business-guide SBA Events https://www.sba.gov/events 2023 Small Business Resource Guide https://www.sba.gov/sites/sbagov/files/2023-06/2023%20Small%20Business%20Resource%20Guide_508c_Final.pdf ---------- NEWS ROUNDUP 1 - Small business owners are less optimistic about this year’s Christmas shopping season than they’ve been in the past. https://www.surveymonkey.com/curiosity/cnbcsurveymonkey-small-business-index-q4-2023/ 2 - The US House of Representatives voted last week to overturn a rule by the Consumer Financial Protection Bureau requiring banks to collect small business owners’ demographic information when they seek a loan. https://www.washingtonexaminer.com/policy/economy/house-votes-end-biden-small-business-loan-rule-veto 3 - According to the Federal Reserve’s most recent quarterly survey of senior loan officers, lending standards applied to small businesses have tightened significantly since last year. https://apnews.com/article/small-business-loans-funding-banks-91c55c514347301f26d46f591f6c32ad ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE To get the right candidates, you need to alight the job description with the actual need for the position. Also, avoid giving your candidates a poor experience in the overall process from interviewing to onboarding. Finally, don’t hire reactively, i.e., for short-term needs. Think about your long-term needs instead. Today’s conversation is based on the blog post, “8 Things That Can Cause You To Hire The Wrong Person.” https://humansdoing.net/8-things-that-can-cause-you-to-hire-the-wrong-person/ Today’s guest is Josh McAfee, Co-Founder and Managing Partner of Humans Doing: Josh’s email: joshmc@humansdoing.net Josh’s LinkedIn page: https://www.linkedin.com/in/joshmc/ Josh’s book, Measure Up: https://www.amazon.com/Measure-Up-Mastering-Career-Search/dp/1631953036 Humans Doing web page: https://humansdoing.net/ ---------- NEWS ROUNDUP 1 - The ongoing credit crunch impacting small businesses has owners looking beyond traditional loans to finance their capital needs. https://digitalasset.intuit.com/render/content/dam/intuit/sbseg/en_us/Blog/Downloadable-assset/Ebook/intuit-quickbooks-small-business-index-annual-report-2023.pdf?cid=dig_TOF_QBB_blog_US_EN_SMBIndex_AR_hub_PDF 2 - Three-quarters of small businesses are utilizing AI tools for an expansive range of business functions, according to findings of a Small Business & Entrepreneurship Council survey. https://sbecouncil.org/wp-content/uploads/2023/10/SBE-Small-Business-AI-Survey-Oct-2023-FINAL.pdf 3 - Scammers are stealing the passwords of small businesses’ social media accounts, according to a new lawsuit filed by Google. https://seekingalpha.com/news/4035436-google-sues-to-block-false-bard-ai-ads-targeting-small-businesses ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE Today, we continue our discussion of the book “Raving Fans” by Ken Blanchard and Sheldon Bowles. To create raving fans, the business must create a vision of the customer experience, but then, it must invite the customers themselves into the vision casting process. Not everything the customers want will necessarily be a part of the final vision, but listening to customers is key. Once customers’ vision has been integrated into the original vision of the business’ vision, then the implementation process begins. Take it slow and start small. Customers want consistency in their experience above all else. Steady progress will yield great results over time. ---------- NEWS ROUNDUP 1 - The job market cooled last month, but small businesses still had trouble finding employees. https://www.nfib.com/content/press-release/economy/nfib-jobs-report-tight-labor-market-continues-to-hinder-main-street/ 2 - More than three-quarters of owners believe their own company is ready to handle any upcoming economic instability. https://nypost.com/2023/11/02/tech/how-small-businesses-are-expanding-their-digital-footprints/ 3 - Multiple small business groups are opposing a new rule by the National Labor Relations Board regarding joint-employer situations. https://sbecouncil.org/2023/10/26/sbe-council-slams-nlrbs-joint-employer-expansion-urges-congress-to-overturn-new-rule/ ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let’s grow your business together!

FEATURE To have a truly thriving business, one essential element is a customer base who are wildly enthusiastic about what your company offers, so much so, in fact, that they eagerly tell their family, friends, and neighbors. In their book “Raving Fans,” Ken Blanchard and Sheldon Bowles explain how having merely satisfied customers just doesn’t cut it. Today, we’re going to unpack some of the book’s ideas and talk about how to apply them to your business. ---------- NEWS ROUNDUP 1 - Small business owners became increasingly dour in their outlook on the economy in September. https://www.nfib.com/content/analysis/labor/report-shows-more-small-business-owners-are-pessimistic-about-future-conditions-2/ 2 - The bar is now higher for businesses to participate in the Small Business Administration’s 8(a) Business Development program, designed to help disadvantaged companies contract with the federal government. https://fedscoop.com/court-ruling-forces-small-businesses-to-detail-bias/ 3 - Goldman Sachs is throwing its weight behind a campaign opposing tougher banking rules called Basel III Endgame (B3E) that it argues will hurt small business lending. https://www.axios.com/2023/10/23/goldman-small-biz-basel-iii ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with their strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let me help you grow your small business.

FEATURE Every small business has different insurance needs, but almost all will need General Liability coverage. And many will also need coverage included in a Business Owner’s Policy (BOP). Other types of insurance could include Workers' Compensation, Employers Liability, Cyber Liability, Commercial Auto, and Errors and Omissions (aka Professional Liability). Today’s guest is Jack Smith, of Valor Insurance Brokers: Jack’s email: jack@valorbrokers.com Jack’s LinkedIn page: https://www.linkedin.com/in/jacksonsmith1/ Valor’s web page: https://www.valorbrokers.com/ ---------- NEWS ROUNDUP 1 - Small business bankruptcies are rising at the fastest pace since the pandemic, according to a report by the Wall Street Journal. Increased interest rates, tighter lending standards, and higher operating costs are the chief culprits. https://www.wsj.com/business/entrepreneurship/small-busines-bankruptcy-surge-8989e665?mod=hp_lista_pos2 2 - Though Congress averted a government shutdown last month, the prospect of one towards the end of November hangs over the economy. And small business owners want none of it. https://www.goldmansachs.com/citizenship/10000-small-businesses/US/voices/news/september-25-2023-press-release.html 3 - Many small businesses are making mental health of employees a priority. https://www.uschamber.com/sbindex/quarterly-spotlight ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with their strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let me help you grow your small business.

FEATURE Ranking high in search engines results, especially on Google, is a concern of most small businesses. There are a few basic things you can do to help your site be found, like consistently creating good content (but you don’t have to write a blog post every day or even every week) and fully utilizing Google Business Profile. ChatGPT can help you create content, but don’t depend on it to get you 100% of the way there. We also discuss: * How to account for the numerous updates to Google’s algorithm each year. * How to think about search metrics. * Why you should start using Google Search Console. Google Search Console: https://search.google.com/search-console/about Today’s guest is Mickey Mellen, of GreenMellen: Mickey’s email: mickey@greenmellenmedia.com Mickey’s LinkedIn page: https://www.linkedin.com/in/mickmel/ GreenMellen’s web page: https://www.greenmellenmedia.com/ ---------- NEWS ROUNDUP 1 - Though most small business owners are generally positive about the current business environment, they have heartburn over the direction of the economy, according to the 3Q2023 Small Business Check Up Survey. https://sbecouncil.org/2023/09/12/new-check-up-survey-for-q3-small-business-owners-foresee-deteriorating-economic-conditions/ 2 - The IRS recently announced a moratorium through at least the end of the year on processing new claims for the Employee Retention Credit, a highly popular COVID-era relief program designed to help small businesses keep their employees on payroll. https://www.irs.gov/newsroom/to-protect-taxpayers-from-scams-irs-orders-immediate-stop-to-new-employee-retention-credit-processing-amid-surge-of-questionable-claims-concerns-from-tax-pros 3 - Entrepreneurs who choose to re-enter the traditional workforce are 30% less likely to get job interviews than applicants with only traditional experience, according to research conducted by two professors of management. https://fortune.com/2023/09/06/entrepreneurs-founders-get-fewer-job-interviews-research-survey-management/ ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with their strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let me help you grow your small business.

FEATURE The Department of Homeland Security issued a new Form I-9, also known as the Employment Eligibility Form, on August 1. If you have employees, you need to be completing an I-9 on every new hire and should have already completed an I-9 for every existing employee. Penalties for non-compliance are stiff. Today’s guest is Karen Moss, of Innovative Outsourcing: Karen’s email: kmoss@innovative-outsourcing.com Karen’s LinkedIn page: https://www.linkedin.com/in/karenemoss/ Innovative Outsourcing web page: https://www.innovative-outsourcing.com/ ---------- NEWS ROUNDUP 1 - The Department of Labor has proposed a rule that could significantly increase the overtime costs for small businesses. https://www.shrm.org/resourcesandtools/legal-and-compliance/employment-law/pages/proposed-overtime-rule-2023.aspx https://www.wsj.com/articles/julie-su-labor-department-overtime-pay-biden-administration-b314387c 2 - The Department of Treasury will begin requiring tens of millions of small companies to hand over details about their ownership via a new rule on beneficial ownership reporting under the Corporate Transparency Act. https://sbecouncil.org/2023/08/15/new-federal-reporting-requirement-for-small-businesses/ https://www.nfib.com/content/analysis/national/the-upcoming-regulation-change-every-small-business-owner-should-know/ 3 - Excessive borrowing costs continue to frustrate small businesses seeking access to capital, according to a new survey. https://www.nfib.com/content/press-release/economy/new-nfib-survey-increased-financing-costs-tops-the-list-of-credit-concerns-for-small-business-owners/ ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 Do you want to grow your business? I help small business owners succeed with their strategy, marketing, and operations. Email me today at adam@smallbizflash.com and let me help you grow your small business.

FEATURE Many small businesses already have a CRM in place, but these platforms can be very robust, and you’re probably not taking full advantage of the functionality available to you. If don’t already have a CRM, some of the most popular for small companies include HubSpot, Zoho CRM, Monday Sales CRM, Insightly, and Pipedrive, to name a few. Other than storing contact information and running your email newsletters, three more ways to leverage your CRM to boost company performance are: 1. Track the lifetime value of your customers 2. Set up as many automatic communication points with customers as possible 3. Standardizing workflow for common processes ---------- NEWS ROUNDUP 1 In a sweeping set of policy changes, Small Business Administration has increased the pool of eligible lenders, relaxed some requirements for an SBA-backed loan, and simplified the application process. https://www.wsj.com/articles/small-business-lending-is-about-to-change-with-simpler-requirements-8578a895 https://www.forbes.com/sites/allbusiness/2023/06/29/new-2023-sba-loan-rules-make-getting-a-small-business-loan-easier/?sh=3c26bbf545eb 2 The Credit Card Competition Act would give some small business merchants a degree of choice over which credit card payment network is used when processing their transactions. https://www.nfib.com/content/press-release/homepage/nfib-releases-new-in-their-own-words-video-on-credit-card-competition-act/ https://www.jobcreatorsnetwork.com/opeds/bipartisan-bill-to-address-credit-card-swipe-fees-would-help-small-businesses/ https://sbecouncil.org/2023/06/28/coalition-letter-to-congress-in-opposition-to-credit-card-competition-act/ 3 The recently released CNBC-SurveyMonkey Small Business Confidence Index dropped back down to the survey’s all-time low score of 42 out of 100. https://www.surveymonkey.com/curiosity/cnbc-small-business-q3-2023/ ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 I would love to hear from you! Please email me at adam@smallbizflash.com. 🖥️ Learn how I can help your small business at https://eraynay.com/.

FEATURE After you’ve completed the hard work of developing, deploying, and promoting your lead magnet, you’re still not done. The leads have started to come in, but what’s next? In most cases, you’ll need to start an email marketing campaign to continue the conversation with prospects where the lead magnet left off and to invite them into an offer to do business with you. Be sure you don’t run afoul of anti-spam email laws in your jurisdiction. Once your specially created content has run its course for the prospects that came from your lead magnet, put them into your regular email list, so they continue to get your regular emailer. Email marketing software ratings and reviews: https://www.trustradius.com/email-marketing https://www.g2.com/categories/email-marketing ---------- NEWS ROUNDUP 1 Two polls have contradictory findings on how small businesses feel about the economy. https://www.vistage.com/research-center/business-financials/economic-trends/20230728-small-business-confidence-improves-for-second-month-wsj-survey/ https://sbiqpoll.jcnf.org/app/uploads/2023/08/JCN-SBIQ-JULY-PPT-07-31-23-MASTER.pdf 2 The Main Street Tax Certainty Act, a bill introduced in Congress this spring, would make permanent the 20% Small Business Deduction for qualified business income. https://www.nfib.com/content/press-release/homepage/nfib-launches-new-issue-campaign-urging-congress-to-pass-the-main-street-tax-certainty-act/ 3 Some small business advocates are calling for the reauthorization of the U.S. Small Business Administration. https://www.goldmansachs.com/citizenship/10000-small-businesses/US/voices/news/jul-10-2023-press-release.html ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 I would love to hear from you! Please email me at adam@smallbizflash.com. 🖥️ Learn how I can help your small business at https://eraynay.com/.

FEATURE Once you have developed a solid lead magnet, you want as many prospects as possible to interact with your valuable offer. You need to promote the lead magnet through a variety of channels. You must first create a landing page for the lead magnet to direct prospects back to, where they will fill out a form with their contact information. Then, you can use your web site, social media, emailers, paid ads, and other methods to tell the world about your offer. ---------- NEWS ROUNDUP 1 A new bi-partisan bill in the Senate, the IDEA Act, would help small businesses deal with foreign theft of their intellectual property. https://www.cnbc.com/2023/07/27/senators-ip-theft-protection-bill.html 2 The Federal Reserve recently released its 2023 report on nonemployer firms. 46% of startup nonemployer firms plan to add employees in the next 12 months. https://www.fedsmallbusiness.org/survey/2023/report-on-nonemployer-firms 3 Small business owners are embracing ChatGPT and using it in a variety of ways, according to a new survey from Alignable. https://www.alignable.com/forum/57-of-smbs-have-already-tried-chatgpt-26-already-feel-it-will ---------- This podcast is sponsored by SBS Accounting & Advisors. Use the promo code FLASH and get 20% off your set up fee! https://sbsaccountants.com/. 👀 Watch on YouTube: https://www.youtube.com/channel/UCmFHZqDGRbOHXjhpicWuqhg. 📧 I would love to hear from you! Please email me at adam@smallbizflash.com. 🖥️ Learn how I can help your small business at https://eraynay.com/.