Using Online Payment Services

Online payment services allow business and consumers to exchange money electronically over the Internet. With an online payment service, your business can receive payment from virtually any customer with an email account.
     Advantages: Online payment services can either replace or supplement your decision to accept credit and debit cards. Opening an online payment account is often faster and easier than setting up a Merchant Account (which is required to accept credit and debit card payments). Online payment accounts typically incur smaller fees than a traditional Merchant Account, which can have a big impact on businesses with many small transactions. From a customer-service perspective, it's beneficial to have multiple payment options available. Online payment services are also quite user-friendly and can simplify the payment process by storing customer card information or billing customers at a later date.
     Disadvantages:   As with all payment methods, online payment services have their drawbacks. Most of these services redirect customers to a payment service website to complete a transaction. Being forced to leave your business's website can be confusing for customers - especially those new to online shopping - and could make them abandon a purchase they may have otherwise made.  Your business may not get enough value out of offering both an online payment service and accepting card payments. On the other hand, limited payment options may turn some customers away. Finding the right balance of payment options is something that is unique for every business.
     There are also security concerns.  Major providers of online payment services (for example, PayPal or Bill Me Later) have developed features like two-factor authentication to help businesses enhance e-commerce security. Two-factor authentication requires businesses to enter a six-digit code in addition to their password, making third-party scams rare. As e-commerce becomes more popular, security features will continue to evolve. Be sure to research service provider plans for the most current security technology.
     For the most part, online payment services require a “virtual shopping cart” which allows businesses to accept orders on multiple products from their website. A shopping cart can calculate the total, tax, and shipping costs of an order, in addition to collecting customer account and shipping information.
Some online payment service providers offer free shopping cart services to businesses. If your online payment service does not provide a free, secure shopping cart option, third-party shopping cart services can be used.  I will suggest a couple of the more popular options for example as follows.
     PayPal is an online service that enables businesses to accept payments from any customer with an email address and credit card or checking account. PayPal is a popular option for businesses with many small transactions and businesses that do not directly process card payments.
     When a customer decides to make a purchase on your business's website via PayPal, they simply click the button that will redirect them to the PayPal website. New PayPal customers will complete a one-time, free registration to receive an account number. 
Bill Me Later is an online payment service that allows consumers to "buy now, pay later." Customers are billed for the purchase after several weeks and can then choose to pay either online or through the mail.  When a customer decides to make a purchase using a "Bill Me Later" option, they are prompted for their birth date and the last four digits of their Social Security number. With this information, the customer is quickly approved or denied through a credit check. If approved, the transaction is completed through a process similar to a credit card transaction. 
     Planning and managing your business strategies can be complex.  If you need help with this or other aspects of your business, contact:

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JWB Interest, LLC  2012 All Rights Reserve

Make Your Home Office Professional

Any special advice on how to do this "professionally"?

     The "Golden Rule" –treat others as you would want them to treat you – is a must for small businesses. You want to provide the highest quality service and responsiveness because that’s what you expect when you buy a product or service.
     The largely casual setting of a home office is no exception. Even if you work out of a spare bedroom and wear shorts while you work, you want clients to perceive you as a first-class operation. That means making sure you have the resources and approach to your business as good as your competitors in that shiny office downtown.
Here are some ways to make your home office as professional as possible:
     Get connected. Make sure your computer has the processing speed and capacity to meet your business needs. You cannot be efficient or provide fast answers if your system is slow and constantly crashing. The same goes for your Internet access. Faster modems and phone lines may cost a little more, but the added expense will be more than offset by the time saved waiting for web pages and long documents to download.
     Open the lines of communication. Consider having three separate phone lines – home, office and fax. Also install voice mail. Clients should never experience the frustration of getting a busy signal when trying to reach you or send a fax. If you receive another call while speaking on the business line, the caller can still leave a message. If you have call waiting, make sure you disable it if you expect the call to be lengthy. That persistent double click will be disrupting to you, the person you’re speaking with, and the third party trying to reach you.
     Create a "real" office. Set up your home office professionally. Make it quite, comfortable and organized. Place what you use most close to you. Use bright colors or dark colors, face away from the window or toward the window – in short, whatever works best for you and helps you to concentrate.
     Send it in style. Design your company’s letterhead either yourself or with the assistance of a professional designer. Use it for all business correspondence. It may be worthwhile to rent a Post Office Box for your incoming mail. Home street addresses don’t always convey the look of a professional organization.
     Stay informed. Keep on top of all the latest trends in your business, as well as in your client’s fields. Join your trade association and subscribe to all the key magazines that cover your industry. These resources offer advice and information as well as discounts on business expenses. Also, join the local Chamber of Commerce and attend their monthly breakfast/networking sessions – a good way to stay in touch with the business world in general.
     Self control. Now that you are on your own, it is easy to fall into a poor work pattern. Working from your home takes a lot of discipline. First, separate work time from personal time. Set hours for your workday and stick to them. After hours don’t sneak into the office to get work done unless you are up against a deadline. Likewise don’t sneak out to run errands during business hours. Think of time away from the office during the workday as money lost.

Contact JWB Interest Today

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JWB Interest, LLC  2012 All Rights Reserve

Cash Management – The Nickels and Dimes Add Up

I have been advised that one of the most critical skills I need to develop as a business owner is that of "cash management". While I think I have some understanding of what this means, I am not absolutely sure. Just what is involved in good "cash management"?
 A. Cash is the engine that runs every business. The successful business owner should view the assets on the Balance Sheet as potential sources of cash: remembering that some accounts are a near term source, others may be longer term sources. 
     Great care must be taken to ensure that all cash receipts are properly accounted for and deposited in the bank. No cash should be held out to handle small expense items. This procedure opens the door to possible misuse of cash. Small cash disbursements may be handled through a "petty cash" account controlled by you or a trusted employee. At the same time, controls must be placed on all disbursements to be sure they are properly documented by vendors invoices, receiving reports, etc. Also, disbursements should be scheduled within the same time frame as budgeted in the cash flow projections, if possible. An unexpected cash shortfall may be caused by payments being processed earlier than planned.
     A reconciliation of the cash balance shown on the monthly statement received from the bank and the cash account on the books of your business must be made monthly, preferably by you, the business owner. All necessary corrections must be made on a timely basis so that errors do not lead to larger problems with your bank in the days or weeks ahead.
     If sales are made to customers on a credit basis, great care must be taken to be sure accounts are collected on time. Each credit customer must have a special ledger card showing the invoices charged to the account, cash received and the balance still owing. All the various ledger cards combined are referred to as the accounts receivable ledger. The sum of all the accounts in the accounts receivable ledger must agree with the account entitled Accounts Receivable in the Current Asset section of the Balance Sheet. If a customer is a slow payer, a different credit arrangement should be made with him. Some businesses offer cash discounts to customers who pay their accounts within 10 days or some other specified period of time. You must take the responsibility for contacting past due customers so that firm payment commitments are received without alienating the customer.
     Inventory levels on the Balance Sheet should be of great concern to you. In most cases cash is used to purchase inventory to be sold to customers in a relatively short period of time. The annual expense of holding inventory can run as high as 30 cents of each dollar of inventory cost when the expense of interest, property taxes, insurance, obsolescence and mysterious disappearance are considered. Special inventory ledger sheets should be maintained for each item in inventory to track movement in and out of the shop. The statistics developed from each ledger card will help you reorder inventory on the most economical basis. The various inventory ledger cards are kept in a book called the inventory control ledger. The sum of all the ledger cards in the inventory control ledger must agree with the Inventory account in the Current Asset section of the Balance Sheet. Cash should not be tied up in inventories for a long period of time. In an effort to conserve cash you may consider asking suppliers to provide extended payment terms on purchases.
     It is very important to practice cash planning or forecasting on a continuing basis. You should regularly prepare budgeted Income Statements and accompanying Balance Sheets. With these two statements as a source of information, you can then prepare cash flow budgets by month for at least the year ahead. The cash flow budget will demonstrate to you whether you have the cash resources to fund the business as planned. If projected cash balances are not adequate, you might consider approaching your banker or financial backer to ask for additional short term credit or a delay in making scheduled loan repayments. You may also look at any scheduled purchases of assets and equipment that are in your forecast to determine if they can be delayed until cash balances are healthier. The point of the budget or forecasting process is to provide you with sufficient data far enough in advance for corrective action to be put in place.

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JWB Interest, LLC  2012 All Rights Reserve

Make Your Home Office Professional

Any special advice on how to do this "professionally"?
     The "Golden Rule" –treat others as you would want them to treat you – is a must for small businesses. You want to provide the highest quality service and responsiveness because that’s what you expect when you buy a product or service.
     The largely casual setting of a home office is no exception. Even if you work out of a spare bedroom and wear shorts while you work, you want clients to perceive you as a first-class operation. That means making sure you have the resources and approach to your business as good as your competitors in that shiny office downtown.
Here are some ways to make your home office as professional as possible:
     Get connected. Make sure your computer has the processing speed and capacity to meet your business needs. You cannot be efficient or provide fast answers if your system is slow and constantly crashing. The same goes for your Internet access. Faster modems and phone lines may cost a little more, but the added expense will be more than offset by the time saved waiting for web pages and long documents to download.
     Open the lines of communication. Consider having three separate phone lines – home, office and fax. Also install voice mail. Clients should never experience the frustration of getting a busy signal when trying to reach you or send a fax. If you receive another call while speaking on the business line, the caller can still leave a message. If you have call waiting, make sure you disable it if you expect the call to be lengthy. That persistent double click will be disrupting to you, the person you’re speaking with, and the third party trying to reach you.
     Create a "real" office. Set up your home office professionally. Make it quite, comfortable and organized. Place what you use most close to you. Use bright colors or dark colors, face away from the window or toward the window – in short, whatever works best for you and helps you to concentrate.
     Send it in style. Design your company’s letterhead either yourself or with the assistance of a professional designer. Use it for all business correspondence. It may be worthwhile to rent a Post Office Box for your incoming mail. Home street addresses don’t always convey the look of a professional organization.
     Stay informed. Keep on top of all the latest trends in your business, as well as in your client’s fields. Join your trade association and subscribe to all the key magazines that cover your industry. These resources offer advice and information as well as discounts on business expenses. Also, join the local Chamber of Commerce and attend their monthly breakfast/networking sessions – a good way to stay in touch with the business world in general.
     Self control. Now that you are on your own, it is easy to fall into a poor work pattern. Working from your home takes a lot of discipline. First, separate work time from personal time. Set hours for your workday and stick to them. After hours don’t sneak into the office to get work done unless you are up against a deadline. Likewise don’t sneak out to run errands during business hours. Think of time away from the office during the workday as money lost.

Contact JWB Interest Today

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JWB Interest, LLC  2012 All Rights Reserve

Get Trademark Savvy and Protect Your Creativity

Will my patent keep others from using my product name?

No, but you may need a trademark which is not the same as a patent.  While there are similarities, they serve different purposes. 

According to the U.S. Patent and Trademark Office (USPTO), a trademark is a word, phrase, symbol or design used in business to indicate a source of the goods, i.e. your business, and to distinguish those goods from others. A service mark is the same as a trademark, except that it identifies and distinguishes the source of a service rather than a product. 

A patent for an invention grants a specific legal property right to the inventor—“the right to exclude others from making, using, offering for sale or selling” the same invention.
A word or phrase that is commonly used or already connected with another product or service in the same industry cannot be trademarked.  For example, a generic term like "search engine" can’t be trademarked, but a unique name, like Google, can be. If your name, however, is generic but used in an industry not typically related to the meaning of the term, you may be able to trademark it - an example is Apple Computer.
As a general rule, you can trademark your business name if you use it when advertising directly to your customers. If you don't use your business name in direct communication with your customers, you probably can't, because you're not connecting your name to your brand and its attributes. If your business name is a large part of your marketing, you should consider trademarking it.
If your company is the first to use a unique mark to identify your products or services, you don't need to register your mark to gain rights to it. You must, however, add the trademark symbol, TM, to the mark you're claiming rights to. It's not quite a substitute to registering a mark through the USPTO, which establishes ownership beyond a doubt.  

Everything you need to research and apply for a federal trademark is at the USPTO Web site, www.uspto.gov. The application process requires that you identify goods or services under specific categories. But misunderstanding these categories and filing too broadly or too narrowly can ruin your trademark and cause problems later on. A qualified trademark attorney will help prevent such problems.  
Also, trademarks can be registered at the state level which is simple, fairly quick and inexpensive. That only protects your trademark in your state but that may be all that you need.

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JWB Interest, LLC  2012 All Rights Reserve

4 New Facebook Tools for Fan Pages

Social Media Tools

By now the Facebook pages for your business or organization have been converted to the new Timeline format. With this change has come some new tools designed to help page admins highlight content and engage with fans. Here are the four tools we believe you should pay attention to.
In-box Messaging — Now people can communicate with your business without having to post their comments on the public wall by sending a message, similar to the manner in which individuals have always been able to send private in-box messages to one another. With business pages, messages can only be initiated by page followers. This offers a better opportunity for grievances or personal account issues to be handled in a private manner while also benefiting from the immediacy social media offers. Page admins should get into the habit of checking the admin panel often for new messages because it won’t show up as a Facebook notification.
Pin It — Pinning seems to be trendy these days and now fan pages have the ability to “pin” a post to the top of the Timeline. The pinned post will remain at the top of the Timeline for seven days, after which time if it is still relevant you may re-pin the post to the top of the page. To “pin” the post, hover over the right-hand side of your post (after it has been posted) and select the edit tool. You’ll get a drop down menu of options and pin it is the first option. Things worth pinning include upcoming events, coupon codes or weekly specials.
Highlights — When you make a post you have two size options for displaying that post on your timeline. The default is for the post to sit on one side of the Timeline’s center line. If you click the star icon on the right-hand side of the post you can highlight it, meaning it will expand to fit the entire width of the wall. This is a fantastic way to display photo albums. Consider displaying a postcard montage of a featured real estate property as a highlighted post. Or perhaps you have a new product — why not show off the details with a highlighted post.
Milestones — Timeline literally offers your company or organization the ability to tell your story. Milestone posts allow you to back date posts to share your company’s history and organization’s key achievements. Click the milestone icon in the update status box to post when your business was founded, when you moved into a new location, or when an employee received a noteworthy honor.
Using these tools will help you have more control over how your followers experience the flow of information you have to share. If your business needs further direction in how to best utilize the new Timeline format, contact us about our training and coaching services.

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JWB Interest, LLC  2012 All Rights Reserve
 By: Kevin McNulty / Netweave

Five Sports Team Coaching Tactics You Can Use in Running Your Business

Running a business requires a lot of discipline. In fact, unwavering discipline is one of the factors that can help a business succeed. Talk to any successful business owner and they will almost always say that discipline and perseverance played a big part in their success.
Discipline is also another factor for success when coaching a sports team. In fact, people who manage a business can learn a thing or two from people who coach sports teams. Coaches and business owners have the same end goal (to win/succeed) and apply management skills to fulfill their objectives. Here are some team coaching tactics that can be added to your business management repertoire.


1. Different people have different styles.
As a business owner you should realize that people are not cut from the same cloth. They have different styles when working and handling tasks and responsibilities. You should learn to adjust to the particular style of your employees so you can get the maximum benefit from them. There are slow learners and fast learners. There are those who will only need minimal supervision, while there are those who you’ll have to keep a close eye on. Some are diligent and hardworking while others will just put in the minimum effort and time to a task. Learning to read your employees’ work styles and taking advantage of that knowledge is a key to success.
2. Put your people in the right position.
Find out the strengths and weaknesses of your people so you can make an informed choice when delegating tasks and responsibilities. Knowing what each of your employees is capable of will help you in putting them in the right positions in the organization. By exploiting their strengths, you develop a more efficient organization.
3. Encourage your people
A good coach knows when his players have done well and recognizes it. If an employee does exceptional work, recognize it in front of his coworkers. He’ll thank you for it and will work extra harder next time.
4. Keep your people informed
A good coach knows how to communicate with his players, helping them see the big picture. As a business owner or manager, you should also develop the right communication skills so that you can relay your business objectives to your employees. Being on the same page at all times means everyone is moving towards the same end goal.
5. Equip your employees with the right tools.
Make sure that your employees are equipped with the right tools that will help them perform at their optimum best. Provide them with the necessary equipment that will help them become more efficient in their jobs. This is most important when marketing your business. Your marketing people will need not just support in terms of equipment but also support for their marketing plans. For example, they can embark on a marketing plan that involves a hugely popular trend right now – couponing. In this case, you’d give them the means to promote your couponing plans, like utilizing online couponing sites such as CouponCodes4u. Since everyone in your business know of the plans (see tip number 4), it is easier to ride the wave of current marketing trends and use the most effective tools to promote your business. A real world example of this is the company FansEdge (who are providing a FansEdge coupon on the Internet).


At the end of the day, watching sports doesn’t just have to be a pastime. You can actually learn quite a few important business skills from how sports teams are coached and operated.

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JWB Interest, LLC  2012 All Rights Reserve

What Business Structure is Best for My New Company?

     One of the first decisions that a new business owner will have to make is how the company should be structured.  This decision will have long-term implications, so consult with an accountant and attorney to help you select the form of ownership that is right for you.  Take into account the following factors to begin making this decision:


   ü     Your vision regarding the size and nature of your business.
   ü     The level of control you wish to have.
   ü     The level of structure you are willing to deal with.
   ü     The business' vulnerability to lawsuits.
   ü     Tax implications of the different ownership structures.
   ü     Expected profit (or loss) of the business.
   ü     Whether or not you need to reinvest earnings into the business.
   ü     Your need for access to cash out of the business for yourself.


     There are many factors that must be considered when choosing the best form of business ownership or structure. The choice you make can have an impact on multiple aspects of your business, including taxes, liability, ownership succession, and others. Generally speaking there are just a few basic choices.
     The sole proprietorship is a simple, informal structure that is inexpensive to form; it is usually owned by a single person or a marital community. The owner operates the business, is personally liable for all business debts, can freely transfer all or part of the business, and can report profit or loss on personal income tax returns.
     The Limited Liability Company (LLC) is generally considered advantageous for small businesses because it combines the limited personal liability feature of a corporation with the tax advantages of a partnership and sole proprietorship. Profits and losses can be passed through the company to its members or the LLC can elect to be taxed like a corporation. LLCs do not have stock and are not required to observe corporate formalities. Owners are called members, and the LLC is managed by these members or by appointed managers.
     General Partnerships are inexpensive to form; they require an agreement between two or more individuals or entities to jointly own and operate a business. Profit, loss, and managerial duties are shared among the partners, and each partner is personally liable for partnership debts. Partnerships do not pay taxes, but must file an informational return; individual partners report their share of profits and losses on their personal return. Short-term partnerships are also known as joint ventures.
     The C Corporation (Inc. or Ltd.) is a complex business structure with more startup costs than many other forms. A corporation is a legal entity separate from its owners, who own shares of stock in the company. Corporations can be created for profit or nonprofit purposes and may be subject to increased licensing fees and government regulation than other structures. Profits are taxed both at the corporate level and again when distributed to shareholders.
     Shareholders are not personally liable for corporate obligations unless corporate formalities have not been observed; such formalities provide evidence that the corporation is a separate legal entity from its shareholders. Failure to do so may open the shareholders to liability of the corporation's debts. Corporate formalities include:
     The Sub Chapter S Corporation (Inc. or Ltd.) is identical to the C Corporation in many ways, but offers avoidance of double taxation. If a corporation qualifies for S status with the IRS, it is taxed like a partnership; the corporation is not taxed, but the income flows through to shareholders who report the income on their individual returns.

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JWB Interest, LLC  2012 All Rights Reserve

By: Irv Plitzuweit

When It Comes to Customer Service, Small is Beautiful

Size isn't everything, especially for providing value to customers.

     This important fact can help distinguish small “mom and pop” businesses from big box chain stores. It gives them a powerful competitive advantage in an age when more consumers crave and expect a high level of service and responsiveness.
     “Your position at the “front lines” of your business gives you direct access to your customers’ needs, attitudes, and opinions.”  Dallmann’s experience in owning several small businesses  throughout Southeast Minnesota says that “You know the kinds of products or services they want, when they want them, and how best to deliver them.”
     To gain these valuable insights, you need to proactively assess what you do and should be doing to keep customers coming back, rather than tempting them to try the “big store” down the street.
     Start by putting yourself in your customers’ place.  How would you like to be treated if you were a first-time customer or a “regular?”  Also consider conveniences.  What can you do to make it easier to find items and check out, rather than having to navigate a big-box store’s aisles and cashier lines?
     Also visit other stores and service centers, including those unrelated to your business.  See what they do that you find appealing, and adapt those practices to enhance your business’s customer experience.  Similarly, watch for aspects you don’t like, but be sure to understand the reasons behind problems or poor service, such as under-staffing and limited inventory.  This will help prevent similar problems from arising in your business.
     How you connect with customers by phone or email will also help differentiate your small business from the sometimes bureaucratic nature of big-box chains.  Answer calls promptly and with a friendly greeting.  Avoid putting callers on hold for longer than a minute; take a message and respond as soon as possible.  If you use an automated answering system, your customer service line should be one of the first options.
     Although it may be impractical to handle email inquiries as they arrive, don’t let them sit for too long.  Some email systems automatically generate a response to acknowledge the message.  Make sure the text is upbeat and friendly—again, the kind of message you’d want to receive.   A promise to respond within 24 hours may not be enough.  Designate certain times during the day to handle email queries, or assign the responsibility to an employee.

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JWB Interest, LLC  2012 All Rights Reserved

By: Jerry Dallmann

Ethics: Don’t Do Business without Them

     Operating an honest, ethical business may seem like a no-brainer.  But in today’s highly competitive business environment, the temptation to bend the rules looms large.  And don’t think that it’s OK to do something “just this once.” Not only is a wrong choice always wrong, but one-time ethics breaches often become habits.  And, once the reputation of you and your business are compromised, it may be impossible to repair the damage.
     Two-thirds of small business owners say they are more concerned about ethical business practices today than in the past, according to a survey by the management consulting firm George S. May International. “It may be difficult to measure the benefit of ethical actions to your bottom line,” says Israel Kushnir, president of May International. “But a lack of ethics will definitely have a negative impact on a small business.”
     Although formal ethics training is rare at small companies, business owners are always looking for new or better ways to define their values for employees and customers. Some are putting ethics policies on paper while others are simply raising the issue more often in the workplace.
     There are a few great resources available.  First, I would point you to The Josephson Institute of Ethics, www.josephsoninstitute.org,  It is a “public-benefit, nonpartisan, nonprofit” organization that helps advance ethical decision-making.  Co-founder Michael Josephson’s daily radio commentary on ethics and character-building runs on stations across the country and his “Character Counts” initiative has been adopted by schools and youth groups nationwide.
     The Institute’s Web site has a helpful step-by-step guide to making ethical decisions, available free. They have some good resources for schools to do character education training including resources for sports and youth activities.  The Institute also conducts Ethics in the Workplace training seminars and has a catalog of publications, videos, CDs, tapes, banners and other ethics awareness products you can buy.
     Another great resource is The Ethics Resource Center (ERC) which is a Washington, DC-based nonprofit organization that offers informational products and services, including help creating a code of conduct, an ethics effectiveness test, a business ethics Q&A and other items. Their Ethics Took Kit is an excellent resource for small businesses and many of their materials are free for internal use within your business.  ERC also conducts an annual National Business Ethics Survey. You can find more details at www.ethics.org.

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JWB Interest, LLC  2012 All Rights Reserve

Dean L. Swanson, Chairperson
Rochester, MN 

Put Time on Your Side With Better Task Management

     Time is the one resource that most small business owners wish they had more of.  But until someone figures out how to make days last longer than 24 hours, entrepreneurs must be content with learning how to sharpen their time management skills.
     Fortunately, one of the most effective time management tools is also the simplest—the basic “To-Do” list. Each day, jot down all of the things that need to get done, all on one sheet of paper.
     You can also number or check the ones that are highest priority “must-do” items. As tasks are completed, cross them off. This can help you focus on getting them done one at a time, and also gives you a sense of accomplishment.  To add a technology flavor to tracking your tasks, there are software packages for your computer.  One example is TimeTiger.com that provides a web-based to-do list that helps you monitor your project and non-project activities.
     Delegating more work can also help ease your time crunch. Many business owners accustomed to “doing it all” find this exceedingly difficult. But even if you are a sole operator, you can pass off tasks to others, via outsourcing, for example, to free up time for yourself.
     Periodically analyze how time is spent at your business—and not just your time, but everyone’s. Divide the day into small time blocks and record what you, or others, were doing in each block. Now compare this real use of time to your goals, expectations and mission priorities. If they do not align, you’ll need to take action. And remember that growing, successful businesses don’t put things off. Even a simple “no” response to something on your to-do list can extinguish that item and let you move on.
     A variety of technology solutions are also helping small businesses track and manage time. For example, Workarea.com is an Internet-based time tracking system that can provide billing information to the second.  The system includes a time clock, time sheet, expense tracking, address book and the ability to access it all via cell phone or PDA.
     For businesses with employees, the TimeClock Plus Small Business Edition at www.timeclockplus.com lets you turn any PC into a time clock.  Employees can sign in or out with the keyboard or mouse, and easily allocate hours and costs to specific jobs.
     To learn more about the secrets of productive time management issues facing your small business contact >>>  

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JWB Interest, LLC  2012 All Rights Reserve

Protecting Your Business Idea

     Many small business entrepreneurs have great ideas with realistic marketing potential.  They may fit a certain niche market or provide a unique service or product that solves a specific problem or provides a new way of doing something.  The big question is should  you protect your idea?  How do you assure that some big company doesn’t take your idea and run with it?  We urge existing and new businesses to seriously consider the need for protecting their new ideas.  But, it can be a little complicated.
     Abbreviations and symbols such as “TM,” “SM,” “PAT PEND,” “©,” “®” carry a lot of legal power. They help to safeguard a company’s names, products, services, and designs. As an entrepreneur, you should find out which ones you need and make sure they protect the intellectual properties of your small business.
     Trademarks are not the same as patents and copyrights, even though the differences are not widely understood. While there are similarities, they serve different purposes.
     According to the U.S. Patent and Trademark Office (USPTO), a trademark is a word, name, symbol or device used in business to indicate a source of the goods, i.e. your business, and to distinguish those goods from those sold by another business. A service mark is the same as a trademark, except that it identifies and distinguishes the source of a service rather than a product.
     A patent for an invention grants a specific legal property right to the inventor—“the right to exclude others from making, using, offering for sale or selling” the same invention.
     A copyright is harder to define. It is mainly a protection for authors of original works, including literary, dramatic, musical, artistic and other intellectual works, both published and unpublished.
     The Internet has transformed the once mysterious process of applying for a trademark into something accessible to anyone willing to spend some time to understand the intricacies and get it right. But while no business skills or special legal knowledge are required to apply, the field is filled with potential pitfalls and wrong turns that could sabotage your trademark filing if you don’t know the intricacies of creating trademarks that can stand up to legal challenges later on.
     For example, the application requires that you identify goods or services under specific categories. But misunderstanding these categories and filing too broadly or too narrowly can ruin your trademark and cause problems later on. A qualified trademark attorney can help you avoid such problems.
     The U.S. Patent and Trademark Office’s Web site at www.uspto.gov provides a wealth of information and resources about protecting your small business’ intellectual properties. You’ll find basic information about trademarks, patents, and copyrights; links to easy-to-follow “How To” guides; and search engines for researching existing trademarks and patents.

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Every Wonder Why We are So Fat

• Found this little gem while preparing for a Chemistry experiment:   If you drink 2 - 12 oz sodas every day for 1 month, you will consume 5.6 gallons of soda, gulp down about 5 lbs of sugar, take in more than 8,000 calories. YOWZERS!!  And we wonder why the #1 epidemic hitting America is obesity.
  
  
  

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  JWB Interest, LLC  2012 All Rights Reserved
  From: Justine Kresel

Wondering if things aren't quite right ??

The seven signs where action there may be needed are:


1. Staff turnover and/or much complaining to the board
2. Funders and donors questioning the use of funds or the quality of work
3. Board/CEO rocky relationship (where trust is on the decline or absent)
4. Clients expressing dissatisfaction with or not using services
5. Community and peer group gossip or lack of partnering
6. Regulator challenges
7. Professional advisers advising that change must occur

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JWB Interest, LLC  2012 All Rights Reserve

Run a Family Business Like a Business

     Q. I plan to start a family-owned business. What are some of the areas that will probably be most sensitive

     A. Family-owned businesses can be a disaster if they are run as a dictatorship. There are numerous well known cases where seemingly successful businesses ended up "on the rocks" as did some marriages and other family relationships.

     Thankfully these scenarios are the exception rather than the rule. However, since you are contemplating a clan-centered business, you should be aware that the family-owned business presents special challenges to the family-based management team. Some possible means to avoiding such concerns are:
    1. In every small business the chief executive should have a set of personal as well as company goals. However, for a family-owned business, each member of the family management team should have a written list of his or her goals (both personal and company), then this family management team should jointly create a set of company goals from these lists. 
    2. Chances are that most, if not all, of your management team (board of directors) is all family as well. That’s OK, but you should also have one or more outside advisors to challenge your decisions and make sure you are doing your homework. Otherwise there are chances you could be missing out on potential profit opportunities that an inbred family "board" won’t see. 
    3. According to Scott Clark, "The Company Doctor", "If the CEO of such a business keeps all the power to himself it may yield only spoiled apples, sharing power in a family business can lead to applesauce, while splitting it wisely may give you apple pie". 
    4. Don’t try to share responsibility for the same tasks, projects or programs. Instead, split the power by giving different family management members responsibility for different parts of the business in accordance with the organization chart. Your goal should be to expand each member’s experience and expertise so they can grow with the business. 
    5. Make certain that all members of your management team are qualified individuals. If it turns out that none, or just a few of the family are qualified, so be it. Don’t add family members to the "team" just to be adding them. 
    6. It’s easy for family meetings on the business to degenerate into informal get-togethers, but it’s a big mistake. Keep your business meetings formal; some with just family, some with the rest of your management team and perhaps some with your financiers. At least once a year hold a strategic planning session. If possible pick a location for this session off site from your office. Establish an agenda where all family management members have the opportunity to help plan/assess where the company is in the market today; where it’s competitors are; where the company should expand and grow – along with what the anticipated bottom line results will be – how you can make it happen and how you will monitor the results 
    The keys to family-business prosperity, in addition to a strong strategic plan, are a strong foundation of family communications and trust. Without those basic elements, lasting success and legacy don’t have a chance.

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What Google’s Search Changes Might Mean for You

Bloomberg - Google is enhancing its search technology with answers to certain queries.


     Google is undergoing a major, long-term overhaul of its search-engine, using what’s called semantic Web search to enhance the current system in the coming years. The move, starting over the next few months, will impact the way people can use the search engine as well as how the search engine examines sites across the Web before ranking them in search results.

What does this mean for Google users?

     Google says its search engine will be even better at providing answers to people’s search queries because it will have a greater understanding of the information on sites across the Web. That could mean that either Google will display the answer to a search query at the top of the search-results page, rather than links to other sites. Or it could mean that if Google doesn’t know the specific answer from its own database of information, it would be able to better rank useful websites in the search results.
     A Google spokesman said the company wouldn’t comment on future search-engine features. But people familiar with the initiative say that Google users will able to browse through the company’s “knowledge graph,” or its ever-expanding database of information about “entities”—people, places and things—the “attributes” of those entities and how different entities are connected to one another.
     For example, if someone searched for an author like Ernest Hemingway, they might get detailed information about him at the top of the search results, including his date of birth and death, the best-selling books he wrote and where he lived, among other things. Google users might then be able to click to get more information about his books, such as “The Sun Also Rises” or “A Farewell to Arms.”

What does this mean for website owners?

     Google won’t give any new advice to webmasters right now, and it’s unclear whether they should do anything different until changes roll out.
     But Larry Cornett, a former Yahoo search executive, said web publishers “get a jump on this by following open standards for how to semantically mark-up their content to give it ‘meaning’ in anticipation of Google doing useful things with that.”
     After Google begins to use more semantic search technology, he said, a semantically marked-up site might come up higher in search results.
Some open standards come from the W3C Semantic Web and Schema.org, which the major search engine players including Google have agreed to recognize, Cornett said. Cornett, who advises start-ups including semantic-search company Primal.com, also suggests web publishers visit SemanticWeb.org to stay on top of developments in the space.
     Danny Hillis, who co-founded semantic search company Metaweb Technologies, which Google bought in 2010, said that if a site has educational materials, the site owner may want to visit the Learning Resource Metadata Initiative, at www.LRMI.net, which will help them mark up, or “tag,” their site so that a search engine could recognize the “concepts” it has information about, rather than just the keywords.
     Of course, said a Google spokesman, the company is trying to transform the search engine so that it can more easily recognize the quality of a site—just like a human would—and that Google’s general webmaster guidelines will always apply.

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By Amir Efrati - Wall Street Journal

Business Insurance

Q. I am in the final stages of starting a driveway repair/replacement business. I can't seem to get a clear understanding of what types of insurance are either required by statute or others, or are needed by me for my personal benefit? Can you shed some light on this issue? 


A. First let's address the question regarding which insurance is not required by statute or others but is for your personal protection. To insure or not to insure is basically a matter of evaluating the degree of risks involved in your business. Management of risk involves the control of risk, which normally involves one, or a combination, of three methods: 

1. Assumption of risks (self insurance) 
2. Avoidance of risks 
3. Transfer of risks (business insurance) 

     Each method has its own good and bad points and its own place in assisting a business in managing risk. However, to manage any risk, it must first be identified. 
     To accomplish this first step you should obtain the counsel of a professional independent insurance agent, broker or insurance consultant for assistance. This will include an evaluation of how reasonable it is for you to assume some risks as well as the examination of what are the best ways to transfer risks (business insurance). 
1. ASSUMPTION OF RISKS (Self Insurance):      Assumption of risk means knowingly accepting some risks. There are some risks that are routinely assumed in the course of business. A good strategy will involve having your insurance professional assist in identifying these items/areas of risk and determining your ability to withstand potential loss from such instances. Sound strategy of risk management will include some assumption of risks simply because it is not economically feasible to insure yourself against all possible risks. 
  
2. AVOIDANCE OF RISKS:      One of the most effective ways of dealing with risks is to avoid them in the first place. In some instances when a risk cannot be entirely avoided, it can be minimized. Careful planning and sound management are key elements in avoiding risks. This may require careful selection of your location so that you minimize the chances of flooding, break-ins, or theft. It may even involve locating in a developed area to assure adequate fire and police protection. Also, prudent planning may show that installing a sprinkler system could be a wise investment due to the "break even" point of reduced fire insurance premiums. All of these are examples of how the avoidance of risks can be important to your business in terms of reducing the cost of losses. 
  
3. TRANSFER OF RISKS: 
     Transfer of risk involves the shifting of the cost of loss to another party and is a common method of handling certain identifiable risks. This most common way this is done is through purchasing some levels of various business insurance. Unfortunately, a transfer of risk can be made to you, the business owner, when you have no desire to assume such risks. A common place for this type of a transfer of risk to take place is by contract between parties to a lease. A lease typically contains agreements as to who is responsible for the maintenance of the premises, who is responsible for loss or damage to the premises and who is to maintain insurance for the premises. Because the "who is responsible" part of leases can be confusing or easily misunderstood, you should have your insurance professional or a lawyer examine the lease and make certain you understand all facets of it before you agree to its terms. 
     In addition to the foregoing there are some insurance coverages required by statue; by lenders; by customers or suppliers; or by common sense. 
1. REQUIRED BY STATUE 
     A. Workers Compensation: In Texas, Workers Compensation insurance is not required by law, as you can be self-insure this risk. In any event, you will be held responsible for income, medical and rehabilitation costs for injured workers. 
     B. Automobile Liability: Provides coverage for liability for bodily injury or property damage to another party resulting from the use of your motor vehicle. 
     C. Surety Bonds: Required by state and local governments for certain products or services sold. 
     D. Crime Insurance: Fidelity insurance required by the federal government to insure the assets of certain employee benefit plans. 
2. REQUIRED BY LENDERS 
     A. Property and/or Life Insurance: Depending on the type of loan and the collateral, certain insurance may be required to cover the lender's interest. 
3. REQUIRED BY CUSTOMERS OR SUPPLIERS 
     A. Property Insurance required to cover customer's or supplier's items left in your custody. Examples, (1) customer's auto left in a garage or (2) inventory left by supplier on a consignment basis. 
     B. Liability Insurance often required before allowing a business to perform its services on the customer's premises. 
     C. Workers Compensation Insurance. Most General Contractors require their subcontractors to show proof of having this coverage. 

     There are other insurances you may want to consider after consultation with your insurance professional. Some are Cargo Insurance, Crime Insurance, Business Interruption, and Professional Liability, also called "Malpractice" insurance. 

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6 Ways the Job Search has Changed Post-Recession

      The recession changed a lot of things. It changed the way people spend money, the way they save for retirement, the way they invest in stocks. It’s also changed the way companies recruit employees. Gone are the days when companies courted prospective employees, hiring managers offered generous starting bonuses and job seekers could choose from multiple offers.
     According to The National Bureau of Economic Research, the recession ended in 2009. Since then, companies have been slowly emerging from survival mode and have begun more active hiring. Yet the job market has been forever changed, and job seekers have had to face a new reality.
     So how does a job seeker succeed in the current job market? Here are six ways the job search has changed and the adapted tactics that can help in the job hunt.

1. Passive job searching is no longer an option
     Before the recession, it wasn’t uncommon for a skilled, qualified job seeker to be romanced by a prospective employer. Recruiters would seek out candidates without the candidates having to do much in the way of aggressive follow-up. That’s rarely the case anymore. These days, job seekers need to act in order to find jobs and get the attention of employers. “This means job seekers must be active in their job search and set ‘alerts’ on major job boards/search engines so they are notified when an appropriate job match is posted,” says Daniel Newell, job development and marketing specialist for San Jose State University’s Career Center in San Jose, Calif. “This also means that job seekers should utilize several job-search strategies, such as job boards, job-search engines, classifieds, networking sites and social media, in addition to job fairs and hiring events.”

2. Fewer jobs mean more competition
     In the early 2000s, jobs were more plentiful, and if you didn’t get one job, chances are there’d be another one just like it. Yet nowadays, the odds are not in a job seeker’s favor. According to the Bureau of Labor Statistics, when the recession began in December 2007, the number of unemployed people per job opening was 1.8. In June 2009, there were 6.1 unemployed people per job opening. While the number has since been trending downward and was at 4.2 as of November, you still need to find ways to stand out from the competition.
      “The burden of proof has shifted to the job seeker to demonstrate value and fit,” says Roy Cohen, career coach and author of “The Wall Street Professional’s Survival Guide.” “Job seekers need to be bolder and more energetic in this very challenging market. They need to show that they’re willing to go above and beyond and that they’ll work hard, tirelessly and take initiative to get the job done.” Cohen also says that job seekers need to be more solution-oriented. “It’s not enough to say, ‘Here I am.’ The emphasis is now on, ‘Here’s what I can do for you.’”

3. Mistakes, even minor, are not tolerated
     Back in the “glory days” before the recession, mistakes made in application materials or during an interview weren’t ideal, but they weren’t necessarily automatic deal breakers, either. If a candidate misspelled a word on his résumé but otherwise had all the right qualifications, the employer might have let the error slide. In this job market, there’s no room for errors. “Nothing less is accepted or tolerated in a market where there are many more candidates than positions, and companies need to be sold on adding head count,” Cohen says.
     To avoid making costly mistakes, proofread your résumé backward and forward, and then have someone else proof it again. Ensure you’re fully prepared for an interview by researching the company and practicing answering interview questions.

4. Social media are the new recruiting tool
     Before the recession, human-resources teams were more robust and better equipped to manage the hiring process. During the recession many companies downsized, leaving HR short-staffed and buried under piles of résumés. Recruiters have had to finds ways to recruit more efficiently, and social media have become a solution for hiring managers to find and screen candidates more quickly. That means job seekers need to have a social media presence, and a professional one at that.
     “Social media has made a huge impact for job seekers,” says Lavie Margolin, career coach and author of “Lion Cub Job Search: Practical Job Search Assistance for Practical Job Seekers.” “Employers are using social media to post job openings and look into candidate backgrounds via private Facebook pages. Job seekers have an opportunity to increase their visibility … via their LinkedIn page and possibly a blog that is industry-focused.”

5. Customization is critical
     It is no longer acceptable in this job market to use a “spray and pray” method of applying for jobs. Blanket emailing recruiters with the same résumé will increase the chances that your application gets tossed to the side. Newell says it’s important that job seekers create targeted résumés. “They must have a different résumé for each job they are applying for, and they must ensure that they effectively communicate their skills which relate to the job [for which] they are applying.” The same goes for cover letters.
6. Networking is more important than ever
     It’s becoming more and more of an advantage in today’s world to know someone within the company you’re applying to so your résumé gets in the right hands. While not everyone has automatic connections, there are other ways to build relationships. One way to do so is through networking. “My advice to today’s job seeker is to network,” Newell says. “Job seekers should join groups and attend socials through sites such as MeetUp and LinkedIn. Attending a casual social and being active in online and offline groups can open many doors to employment.”
     The job market may not look the same as it did five years ago, but that doesn’t mean you have to start from square one. It just means that by equipping yourself with the job-search tools needed in today’s world, you’ll be in a better position to get hired.

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JWB Interest, LLC  2012 All Rights ReservedBy: Debra Auerbach