Blog | Shannon Procise

How to Reward Higher-Up Employees at Your Business

August 3, 2022 By Shannon Gronich Leave a Comment

Everyone, no matter who they are or what position they hold in a company, likes to be appreciated. In the case of a company, appreciation is often shown through incentives, benefits, and rewards. While it certainly isn’t the case in every business, sometimes it can be easy to get a little too caught up in rewarding those employees who are lower on the ladder at the expense of some of your employees who are higher up. They deserve to be rewarded for all their hard work too, so what can you do to reward them?

Create an Additional Retirement Plan

Saving for retirement is (or should be) a priority for everyone. It’s not always easy to do that by yourself, however, which is part of why businesses that offer retirement benefits can be seen as more attractive to work for. If you want to do a little extra for your higher-up employees, you might consider creating an additional retirement plan for them. When it comes to saving for retirement, short of saving so much that you put yourself in a bind in the present, you’d be hard pressed to say you’ve saved too much. You can still offer them the 401(k) plan if you include that as a part of your benefit. You might also consider offering a cash balance plan on top of that.

Give Them Equity

Depending on how your business is organized, you might consider offering your higher-up employees equity in your business as a way to reward them. This essentially makes them the owner of a percentage of your company. It isn’t an option that makes sense for every business, in part because not every structure supports trading in stocks. A C-corp lets you provide stock options to employees. LLCs, however, cannot issue shares of stock.

Give Them Gifts

Whether it’s for a job especially well done, for holidays, or for other special occasions, gifts can be a great way to reward your higher-up employees for their hard work. You have a couple of ways you can go about this. There’s always the generic gifts that can be nice but don’t require much thought behind them. Then there are the gifts that your employees will really appreciate because you took the time to think about what might make a good gift for them personally. There’s a time and a place for both options, so consider your choices carefully.

It’s always a good idea to reward your employees for their hard work, no matter what their position within your business. Don’t make the mistake of forgetting to reward those who are higher up for all their hard work and efforts. What rewards make the most sense will depend on the situation your business is in. Take that into account along with your employees’ preferences so you can reward them in meaningful ways.

Check out this article on which business expenses are tax deductible!

Filed Under: Business

How to Maintain Your Company’s App

July 20, 2022 By Shannon Gronich Leave a Comment

In 2022, it seems like almost every business has an app for their customers to use. And while creating an app is an important next step to your business’s success, it won’t be effective if it isn’t well maintained. You need to make sure that your app is always in great condition by making app maintenance a regular part of your business practices.

Hand Management Over to a Dedicated Team

Some business owners, especially those who aren’t in the tech industry, think about apps as something static. However, this isn’t actually the case, and having regular maintenance is essential to an app that works well and serves its purpose. Having a dedicated team to take care of app maintenance can help you to ensure that the maintenance is actually completed. The team doesn’t have to only do app maintenance, but it should be a major part of their regular work. That way they can keep the app working great and looking amazing.

Keep the Software Updated

The software of your app is essential to its function. Updating your software gives you access to better features and better security. Making sure that the app software you use is always up to date can help you to ensure that your business is successful and that you have a high level of security. Make sure that your team knows when they need to update your apps and what updates are necessary.

Keep Up with Consumers

One way that many businesses forget to maintain their app is in order to keep up with the needs of their customers. Sometimes an app that was very effective initially can become useless or frustrating as customers’ needs change. It’s important to keep up with your customer’s needs by staying in touch and listening to their feedback. Industries change over time and that can make a great app obsolete in some cases. It is important to make sure that you are doing what you can to take care of your app and keep it aligned with the needs and values of the customers you serve.

Your app is almost a living thing that needs to be maintained in order to continue providing value to your customers. When you are on top of maintenance, it will continue to be an important asset to your business. Make maintenance a priority so you can make sure that your business is in good hands.

Check out this article on how to avoid regrets when hiring for your company!

Filed Under: Business

What No One Tells You About Running a Small Business

July 19, 2022 By Shannon Gronich Leave a Comment

Nothing is quite as scary, exciting, or fulfilling as running a small business. You might have heard all of the typical advice – about profits, insurance, and so on – but you may want to consider the aspects that no one tells you about. Here are some things to look out for on your first trip around the business block.

Progress Isn’t Steady

Business comes in cycles, and the reality is that most of those cycles are out of your control completely. That doesn’t mean that you can’t prepare for them and use them to your advantage. You absolutely should, as a matter of fact. Getting caught by surprise could have serious consequences, after all, since one big financial emergency in the early stages of a small business can kill the project entirely. Be aware that even if you’re getting regular customers, you may not be getting the kind of profit you might want or need for a year or even more. A lot of your money will go towards paying off loans, insurance, and whatnot.

The Busy Work

There are many aspects of running and owning a small business that have nothing to do with the product itself. Unfortunately, this means that your attention will always be demanded by something small or big. This can include accounting, hiring or firing, marketing, and a million other things – even just repainting the outside of your commercial property. And it’s not all unskilled labor, either. Accounting can be a time-consuming task that requires accuracy. Hiring new employees requires at least basic HR training on nondiscrimination. One thing you could consider is hiring professional contractors to help you complete whatever busy work you need done.

The Stress

Starting any new project is stressful. But a small, local business even more so, because its financial destiny can be so uncertain for so long. Thus, many first-time business owners have no way of regulating how much of their work can or cannot work its way into their personal lives. While it is important to make time for your business when an early-onset emergency demands it, you also need to create some healthy boundaries. That might mean setting at least a small amount of time aside for you and your family each week. It might mean delegating to business partners when you need it.

The reality is that every market and every location is different enough that you can only follow a list of guidelines so far, because your small business experience will be unique. That’s scary, but it’s also freeing. Don’t be afraid to plan extensively and then adjust as needed.

Check out this article on how to avoid regrets when hiring for your company!

Filed Under: Business, entrepreneurs

How to Get Your Best Employees to Stick Around

July 19, 2022 By Shannon Gronich Leave a Comment

When you are running a business, it is always a challenge to make sure that you can retain the great people around you. And, your business will function best when it is actually supported by a strong team of amazing employees. That means that you need to figure out a way to make your business the kind of place where your employees want to stay in the long term. This won’t prevent all turnover, but it will help you to keep your business full of great employees.

Make Sure Their Roles Are Fulfilling

The best employees want to feel productive and fulfilled in the work they do. That means that you want to make sure that you are giving your employees the challenges and support they need. It’s important for you to keep an eye on your employees and make sure that they are feeling excited about the work they are doing. When they aren’t feeling fulfilled, it’s important to make it a point to talk to them about how they can be better fulfilled in the workplace. Make sure that conversation is positive and that your employee knows that you want to help them to be happier at work.

Expand Your Benefits

The benefits you provide your employees are an important part of retention. You want to provide benefits that will support your employees now and in retirement. These benefits can also serve as a fairness check for own business, as safe harbor retirement plans help you satisfy non-discrimination requirements. When you offer great benefits, you provide your employees with support and a good reason to hang around.

Encourage Time Off

Over the past several years, many companies have started offering unlimited PTO plans as a way to encourage new employees to accept positions. However, this can backfire in terms of retention if you don’t actually have a strong company culture that encourages using that PTO. Taking time off for illness and vacation actually has a positive impact on productivity and helps your employees to feel supported in the office. It’s important that you offer not only a good PTO policy but that you create an environment where your employees feel trusted to take time off when they need it.

As an employer, you want to make sure that your employees feel happy in their work and with your company. Listen to their concerns so you can make the workplace a better experience for everyone. When you are able to create a positive work environment for your employees, you can keep them around longer.

Check out this article on what every business these days needs to stay organized!

Filed Under: Business

Major Costs That You Need to Control in Your Business

July 13, 2022 By Shannon Gronich Leave a Comment

Running a business is one of the hardest jobs that you can take on, regardless of what industry you are in or how many employees you have. At the end of the day, no matter what your business is, the key to success is controlling your costs and keeping them lower than your revenue. But if you have ever run a business before, then you know that the costs can quickly get out of control if you aren’t prepared. Here are three major costs that you need to control in your business to maintain success and stay profitable.

Office Space

Perhaps the most expensive cost that your business will incur each month is the rent on your office spaces for employees. The more employees you have, the more space you need, which means higher costs. The great thing about office spaces in today’s world is that you don’t need them. Most work can be done remotely, and especially when you are first starting your business, office space can be more of a hindrance than a help. Consider moving as many of your employees as possible to remote work so that you can keep office space costs under control.

Customer Service

Many business owners also underestimate how difficult it can be to control customer service costs for their businesses. Customer service is a critical part of your business services, but at the same time, you can’t spend every dollar you earn on customer service. Using chatbots for customer service can significantly reduce costs for your business. Most people just need answers to simple questions that bots are more than capable of handling. This lets your real customer service experts focus on the few requests that require personalized attention to resolve, saving you time and money.

Supplier Contracts

The final major cost that you need to control in order to keep your business success is supplier contracts. The businesses that supply you with products, supplies, and anything else are going to have monthly fulfillment contracts with you. But overtime, these contracts can get very expensive and can get in the way. Make sure that you are negotiating with your suppliers to get the best deals. The more you order, the more they will be willing to cut you a discount.

Running a business can be summed down to ensuring that your business makes a profit. In order to make a profit, you have to keep your costs under control. Make sure that you are aware of these three major costs at your business and how you can keep them under control.

Check out this article on what business expenses are tax deductible!

Filed Under: Business

How to Start a Business in the Beauty Industry

July 13, 2022 By Shannon Gronich Leave a Comment

The beauty industry is one that is full of opportunities, and you can find your expertise in lots of different areas. Getting into the beauty industry can be done in several ways. You just need to find the approach that works best for you.

Start a Beauty Blog

As you’re getting started, you might consider starting a beauty blog. With a beauty blog you can begin getting your name out there and sharing what you know. This is a chance for you to explore your expertise and also provide helpful information for others. Over time, your blog can grow and you can begin expanding what you do. Many beauty bloggers begin making their own products or starting their own beauty related business. Having a beauty blog is an excellent place for you to start as you begin making your way into the beauty industry. As you start your blog, make sure you are consistent and put out plenty of content so you can capture people’s interest.

Open a Beauty Salon

Another great option to begin your step into the beauty industry is starting your own beauty salon. At your salon, you can offer a variety of services based on your expertise and interests. To give your salon an extra boost, you should make sure you are aware of the current trends. People will be looking for salons that can offer services that help them look stylish and trendy. Lash lifts are one of the most popular treatments clients look for. This beauty treatment changes the shape of your lash so they point upwards and create an attractive look for your eyes. Keep in mind that these differ from lash extensions. If you offer services like this, you will likely see more customers.

Do Freelance Work

If you have experience doing hair or make-up, then doing freelance work is a great way to start off in the beauty industry. For example, you can cut and/or color hair right from your own home. Many people enjoy the more personal feel of working with a freelance hairdresser because it gives them special attention and provides a different experience from a salon. Additionally, working as a freelancer gives you more flexibility. You can decide what jobs interest you and what work you’re willing to do.

The beauty industry covers a wide scope of products, services, and activities. You have many opportunities when it comes to getting started in this industry. Consider your interests and expertise and discover what will work for you.

Check out this article on what every business these days needs to stay organized!

Filed Under: Business

How to Hire for a Sensitive Role at Your Company

July 6, 2022 By Shannon Gronich Leave a Comment

Hiring a new employee is always a bit of a leap of faith, but when you are hiring for a sensitive role, it can feel even riskier. When you are hiring for a person who will know a lot of confidential information about your company, you want to make sure you make the right choice. Handling the hiring process well can help you to ensure that you end up with a candidate you feel you can trust.

Take Your Time

One of the worst things you can do when you are trying to hire someone, especially for a sensitive role, is to rush things. You want to take your time so you can get to know a wide pool of potential candidates. Taking things slow also gives you room to meet with people more than once and get to know each person a little better. The more you know about them and how they get along with people at your company, the easier it is to know if they will be a good fit.

Conduct a Background Check

If you want to make sure that you know if the person will be a good fit, it can help to run a background check. Background checks are normal practices for many jobs. Through the check you will be able to identify any potential red flags that come up, and decide whether that impacts your hiring decision.

Enlist Help for the Interview

When you are hiring someone who will be filling a sensitive position in your business, you don’t want to hire them on your own. When you can have a team interview them, you will get more insight into the person and how well they will fit in at your company. Having about three people on your interview team is a good starting point since it allows you to ask a variety of questions and learn a lot about the potential hire without creating an overwhelming interview experience. You can also accomplish this by having multiple rounds of interviews since this gives you the chance to meet candidates more than once.

Hiring the right person for the right job is an essential part of running a growing business. By taking your time, and checking into their history you can make sure you hire the right person. This process will also give the chance to talk to your team and decide what is right together.

Check out this article on how to avoid trouble with taxes at your business!

Filed Under: Business

How to Avoid Regrets When Hiring for Your Company

May 25, 2022 By Shannon Gronich Leave a Comment

There are few decisions that make such a sweeping impact on the success of your business as your hiring decisions. This is especially true of businesses with few employees, as each employee’s contribution plays a larger role in the overall success of the company. If you choose the wrong candidates for your jobs, your business can suffer greatly, and you can end up full of regret. Choosing the right candidate is difficult, but with the right tips and techniques, you can do it. Here is how to avoid regrets when hiring for your company.

Make Sure They Fit the Culture

The first thing to consider avoiding regrets when hiring for your company is to make sure that they fit the culture. Your company culture is a major part of the working environment. If an employee doesn’t share the same culture as your business, they will feel out of place and won’t be as helpful as another candidate who does fit the culture better. If your company is focused on customer experience, for instance, you should focus on hiring employees who believe in the value of positive customer experiences. Get a feel for the candidate and how they will fit in at your business before hiring.

Fully Vet Them

Another important way that you can avoid regrets when hiring for your company is to fully vet them before making any hiring decisions. Vetting your job candidates is the process of doing your research into your candidates to ensure that they are a good fit. This involves things like checking their social media, doing background checks, and calling references. References can put your mind at ease if the applicant has a criminal record. Feel free to ask questions about the character and work ethic of candidates to their references.

Choose Qualifications Over All Else

The final way that you can avoid regrets when hiring for your company is to choose the most qualified candidate if all else fails. At the end of the day, what you are trying to look for in candidates for a job is the person best able to take on the responsibilities of the job. If all else fails, you can make your decision based on who has the most experience and education background in the job field to get some with a high level of expertise.

Hiring at your company is always a major decision that cannot be made lightly. If you choose too hastily, you can make decisions you regret. Follow these three steps to avoid regrets when hiring for your company.

Check out this article on how to revamp your company benefits!

Filed Under: Business

What Business Expenses Are Tax Deductible

May 24, 2022 By Shannon Gronich Leave a Comment

When you are running a business, amongst a myriad of other business goals, you are seeking at the end of the day to make the most profit possible. Finding ways to increase your profits can be a challenge, but the two basic strategies are to either make more revenue, or to cut expenses. When cutting expenses, the best way to do so is by taking advantage of all the tax breaks and advantages that business owners get, particularly deductions of business expenses. Here are three tax deductible business expenses that your business should be deducting every tax season.

Office Supplies

The first business expense that is tax deductible is your office supplies. As long as you have a physical office space that you or other employees use, and you supply office supply equipment to yourself and your employees, then those costs can be deducted from your taxes. As a necessary business expense that must be spent to run your business, these office supplies are completely tax deductible. This includes things like heavier machinery like printers or computers and should be used to make sure that the money you spend on operating your business is not taxed.

Travel Expenses

If you travel a lot for business or you pay for your employees travel expenses related to business, then you should be deducting these costs as well from your income. This includes things like flights, ride shares, and hotel expenses, as well as food expenses while traveling, but more than just deducting these travel expenses, there may be other ways for your business to save. A corporate apartment can be cheaper than a hotel for your business. If you travel a lot to a specific destination, then having an apartment there for you and employees to use when traveling can save hundreds of dollars every month, and it is still tax deductible.

Business Rent

The final business expense that is tax deductible is the rent that you use for office space or other property that your business owns and utilizes for business purposes. This is especially huge if you are spending a lot in rent every month for a larger office space, or you work in real estate investment. Make sure that you are discussing with your accountant what specifically is and isn’t deductible when it comes to your rent, as the rules can vary.

Business expenses are no fun, but at least they are tax deductible. While not every expense can be deducted, knowing which ones can be is crucial to keeping your business profitable. Make sure that you are taking advantage of these three deductions at your business.

Check out this article on how to revamp your company benefits!

Filed Under: Business

What Every Business These Days Needs to Stay Organized

May 24, 2022 By Shannon Gronich Leave a Comment

Staying organized as a business owner today is a lot different than it was twenty years ago. The good news is, it’s a lot less work staying organized than it used to be. However, it can still be tricky to know where to start. Here are just a few things your business can do to stay organized!

Go Paperless

The paperwork involved in running a business is expansive. You need to keep track of employee files, financial statements, tax paperwork, and more. This can cause a lot of clutter and take up a big amount of your office space. Going paperless can save you a lot of space and time, and helps vastly with your organization. Instead of searching through file cabinets, one simple search on your computer can find just the document you’re looking for. You can scan your old files into your organization software for easy access. The good news is, there are thousands of apps you can download on your smartphone that do the scanning for free.

Cloud Software

Once your paperwork is all digitized, storing it in cloud software makes it accessible from any computer. Cloud software stores your data and documents in one easily-accessible place, usually online. This means that no computer crashes or memory loss can delete your important documents. Cloud software is also fairly inexpensive and easy to use. Public clouds like Microsoft Azure are the common choice for businesses. This type of software allows for easy collaboration between anyone within your company. You can give your employees access to specific documents that are relevant to their projects. Cloud software helps you have to do less work, and lets your employees work more quickly and more productively.

Delegate

If you own a business that you are passionate about, it can be difficult to give up control. However, an essential part of staying organized is minimizing the things you need to think about. If you are spread thin, your organization is more likely to suffer. Delegate some of the tasks that are less of a happy project for you. Hire an accountant to be in charge of the finances. Hire a manager to do the scheduling and to handle day-to-day tasks. This allows you to be more focused on your specific tasks, and keeps your business well-organized.

Organization is one of the key components of a well-run business. To stay ahead of things, it’s important to stay organized. The good news is, it’s never too late to start. Take these actions to make your business more organized, and watch it run all the more smoothly.

Read this next: How to Revamp Your Company Benefits

Filed Under: Business