Well-trained employees are essential to small business success. As a business owner, you should consider your employees your principle asset and invest in training them accordingly. However, many entrepreneurs still view employee training as optional rather then essential.

Primarily, business owners look at training as an expense rather than an investment. The truth is, not enough, or improper, training risks lost customers and revenue for your company. Additionally, the amount of training your employees require increases with the size of your business.

Don’t wait until it’s too late; follow these simple steps for creating an employee training program within your company:

• Determine what your needs are and focus your training around those needs. You’ll achieve the best results with a targeted training program.
• Promote a culture of learning within your already-established company culture. Support your employees by providing them with as many educational resources as possible.
• Start small. Only conduct training that’s relevant to your business right now. As your company grows, your training should too.
• Keep it up. Organized, ongoing training is essential to keeping your employees on top of their game.

If your employees are your chief business asset, why not invest in making them the best that they can be? With thoughtful, useful employee training programs, you’ll save yourself time and money in the long run.

Tessa Carroll
VBP OutSourcing

In small business, technology is a wonderful thing. However, when it comes to choosing accounting software, technology can seem like more trouble than it’s worth. How do you go about deciding on an accounting system? What should you look for in accounting software? The answer depends on your business’ individual needs.

The two generally-used types of accounting software are industry-specific and generic. Industry-specific software can be pricey for smaller companies and it can often be difficult to obtain ongoing support for some programs. Generic software, on the other hand, can be more cost-effective and is highly customizable depending on your business needs. With generic software, it is often easy to maintain a constant line of support.

Once you have decided whether you’re going to use generic or industry-specific software, there are a few other key points to consider before purchasing your accounting software. First, is the software under consideration capable of handling your business needs? At the minimum, your software should be capable of handling tax reporting, invoicing, payroll, and other basic accounting needs.

Next, you need to consider the software’s ability to grow with your needs. When your company gets larger, will your software still be able to handle the job? You don’t want to have to replace your accounting system every time your company grows. It is also important that you purchase software from only the most reputable companies. You want to be sure they’ll still be around when you’re ready to upgrade.

Finally, you need to seriously consider cost prior to purchasing a new accounting software system. Accounting software is likely going to be a major investment for your company and getting a system that meets your needs and fits your budget is extremely important. Don’t purchase a more advanced system than you need or let yourself be talked into add-ons you can’t afford. Look for the most customizable systems you can find that offer upgrades that can be purchased on an as needed basis. This way, you have exactly what you need at the right price.

These key elements should play a critical role in your decision making process when choosing new accounting system software. When it comes to accounting for your business, technology can be your friend and it is crucial that you find and purchase a system that offers your business true reliability and a high return on investment.

Tessa Carroll
VBP OutSourcing

The Healthcare Debate is raging on and small businesses have found themselves in the midst of it. Rather than sit back and wait for Congress to tell them what to do, many small business owners have taken their healthcare concerns into their own hands and begun working to make providing it more affordable right now.

The Baltimore Business Journal reported in a special section of the October 16-22 edition that a May 2008 Maryland Chamber of commerce survey found that 83% of members counted healthcare costs as the third most important issue behind only taxes and economic development. For many small business owners, providing their employees with adequate healthcare can cost more than their rent.

To combat this, many small businesses are creating healthcare incentive programs for their employees. All over Maryland, employers are offering discounts on insurance premiums for workers who quit smoking. Employees who go for an annual physical are being entered in drawings for flat-screen TVs and football tickets. Other small business owners are forgoing expensive group coverage plans in favor of covering the costs of individual plans workers obtain on their own.

Regardless of what you choose to do to save money on healthcare right now, the decision Congress makes is still going to affect you, your employees, and your business. As a small business owner, it’s time you let your voice be heard. Stay on top of the latest news in healthcare reform, visit www.healthreform.gov. You can find more information via the Washington Post’s Healthcare Reform Tracker that follows the most up-to-date developments available.

Tessa Carroll
VBP OutSourcing

Mid afternoon fatigue, also known as the 3 o’clock blues. Anybody who works 9-5, 5-days a week can tell you they’re real. Every afternoon, around the same time, they hit. Here are a few tips to help you avoid them:

• Get out of the office. Even if it’s for five minutes, go outside, walk around. Get out of your chair and away from your computer.
• Do you follow the same routine every single day? If you do, stop! Switch up the time you eat lunch, take a different route to work. Get you brain off of auto-pilot and your energy will increase.
• Avoid sugary sodas and energy drinks. The more sugar or caffeine you take in during the morning, the harder you’re going to crash in the afternoon. Drink water or snack on fruit to keep your energy level up.
• Maintain your health. If you smoke, quit. The healthier you are, the better you’re going to feel and the more energy you’ll have naturally.

Believe it or not, there are ways to keep your energy levels up and stave off mid-afternoon fatigue. You might be surprised at what you can accomplish when you stop robbing yourself of energy.

Tessa Carroll
VBP OutSourcing

In light of Newsweek’s “Green Rankings,” here are some tips for “greening” your office or small business:

1. Switch from disposable plates, cups, and silverware to ceramic or reusable plastic. Keep non-toxic, biodegradable, phosphate and phosphate derivative free dish soap on hand to keep them clean.
2. Invest in hand towels or bar rags to use in your office kitchen or lunchroom. These can easily be used several times, washed at home, and used again.
3. Reduce your energy consumption by turning off all electronics at the end of the day. You can also save energy by using the sleep feature on your monitor when you’re away from your desk.
4. Use paper that is at least 30% post-consumer recycled. Keep a bin by the printer and reuse single-sided copies as scratch paper.
5. Donate your old electronics or take broken ones to an E-Cycler. These electronics recyclers know how to properly dispose of unusable items.

Going green is not only one of the best things you can do for the environment, it also has the potential to save your business money in the long run. Just think about how much money you can save when you stop purchasing plastic silverware and plates every month. Go ahead, do something good for the environment AND your business.

Tessa Carroll
VBP OutSourcing

Proper cash flow management is not just about the movement of cash into and out of your business. It is also about making sure that there is enough money to pay your employees, suppliers, taxes, and handle other expenses.

Simply generating revenue through sales is not enough to ensure that a business is profitable. Planning your monthly cash flow needs in advance is also extremely important. Every month, compare your forecast with the actual results and adjust your plan accordingly. Closely monitoring your short and long term case flow and planning ahead are essential to the survival of your business.

Short term cash flow management strategies require record keeping systems that offer easy access to revenue and expenditure transactions. Regular cash management reviews should be performed to monitor debt collection, sales, invoice status, and receipt and deposit of payments. In order to be effective, short term cash flow management does not need to be complex or confusing.

Long term cash flow management is not as simple as short term management, but these activities should go hand in hand with one another in order to ensure continued business success. Long term cash flow management should begin with keeping credit current and at a minimum. The less money you are owed, the better your cash flow. Keeping a close eye on your inventory and eliminating excess spending can also help boost your long term cash flow.

Often, managing cash flow can be as simple as having enough sales at the most profitable prices. You may purchase software to expedite and standardize financial information, but the ultimate keys to success are monitoring your monthly cash needs, planning your short and long term cash flow management strategy, and allowing for adjustments as necessary.

Cash flow allows you to provide your products and services to your customers, pay your bills, and expand and improve your business. In short, properly managing your cash flow is one of the best things you can do to ensure the future health of your business.

Tessa Carroll
VBP OutSourcing

These days, business cocktail parties or networking events for employees and customers are commonplace. How you manage these situations can be often be the difference between closing and losing that next big sale. Here are a few tips to help you successfully navigate your next business cocktail party:

• Wear business appropriate clothing. If you are asked to wear a nametag, place it on your right side 3-4 inches below your shoulder.
• Don’t head directly for the bar or buffet table. Stop and mingle with people on the way.
• Keep your right hand free for shaking hands. Carry your food or beverage with your left hand.
• Avoid controversial topics like politics and religion during conversation.
• After the event, thank your host with a thoughtful, handwritten note.

The important thing to remember at even the most casual business cocktail event is that you are essentially “on stage.” Potential customers and co-workers are watching you to see how you handle yourself and how you represent your company. Put your best self out there, follow these tips and conquer your next cocktail party.

What if your business’ server went down completely? What if your office building was struck by a tornado or an earthquake? What if half of your staff came down with the swine flu?

If you’re not sure how to answer any of these questions, maybe it’s time to get a disaster plan for your business in order. September is National Disaster Planning Month and in honor of that here are some quick tips to help your business survive any disaster:

Plan ahead: Create a phone tree of all of important home and cell phone numbers for your employees. It is also a good idea to take that phone tree for a dry run to ensure that important messages get around as quickly as possible should disaster strike.

Backup all important data: Would business come to a screeching halt it your company’s server went down unexpectedly? Employ a server backup system and find a server company that you can trust to be there for you in a pinch.

Create emergency kits: In addition to standard first aid kits, it is important that you put together an emergency kit that can be used in any disaster situation. Batteries, blankets, bottled water, rubber gloves, etc. should be included and kits should be stored in an easily accessible place.

Build a support staff: What if half of your staff called out sick with the flu? It could be beneficial to offer a few extra job applicants a paid training day in case you ever need them.

For more information on National Disaster Planning Month and how to prepare your business for an emergency, visit www.ready.gov. The SBA also has a guide available for disaster planning for small businesses.

Tessa Carroll
VBP OutSourcing

If you’ve ever started a business, then I’m sure you know what it’s like to receive advice from fellow entrepreneurs. Some of it is good, sound advice. The rest can sometimes seem like just plain nonsense. Trying to distinguish the good from the bad is often the hardest part.

Well, thanks to Robert Moore over at RJ Metrics, I’ve discovered the only business advice you’re ever going to need. Yes, it is advice from the late Notorious B.I.G., but doesn’t it make sense that a rap star could offer sound advice for anyone starting a business? After all, aren’t many rappers successful entrepreneurs in their own right?

Trust me, if you’re a modern business owner, you’ll want to check this out.

Tessa Carroll
VBP OutSourcing

By this time, everyone is beyond well-aware that this is the United States economy is in the midst of the worst decline in decades. Over 5 million people have already lost their jobs and everyday millions more fear that their positions are still at risk.

Are you seeking supplemental employment because you’re afraid of losing your job or your hours have been cut back? Are you currently laid off and embarking on job search?

If you answered “yes” to either of these questions, maybe it’s time to start thinking outside of the box when it comes to “replacement employment.” Here are several different options for those who need a change from the typical job search:

Start a business. Yes, the economy is shaky and securing funding can sometimes be difficult, but thousands of laid off workers have already taken the plunge from employee to entrepreneur. After all, starting your own business can teach you to rely on your own strengths rather than corporate resources. Who knows, you may create the next big product or service.

Go back to school. The American Recovery and Reinvestment Act includes $4.5 billion for job training. If that’s not reason enough to go back to school, then think of it this way: Fields such as health services, education, and alternative energy remain the bright spots in today’s economy. You can earn certification in these fields quickly and you may even find yourself doing something you love more than your previous career.

Volunteer. There are plenty of options for displaced workers who may be looking to replace personal ambition with social good. AmeriCorps, which specializes in health care, clean energy, and fighting poverty, will soon offer a $1,000 educational grant to volunteers 55 and older who donate 350-plus hours of time. The Peace Corps, the volunteerism gold standard, offers health coverage and job-placement support for volunteers.

Yes, the job market is still pretty dismal. However, there are plenty of options out there for those who wish to put their ambitions to work or realize their dreams. Try one of these out of the box solutions, you might be pleased with the results.

Tessa Carroll
VBP OutSourcing