Business Essentials: Building a Great Website

It wasn’t all that long ago that for a business to have a website seemed a novel thing. The tipping point has long past, and for a start up company to not prioritize their website as a major arm of their business seems sophomoric. The hurdles that confronted the early pioneers of website building (technical complexity, cost, technological limitations) have disappeared and there is now no excuse not to have a website. There is, however, one basic rule that has not changed – nor will it ever – and that is: the better and more effective you want your website to be, the greater the investment it will represent. Below are a few handy tips that will hopefully give you greater insight into what steps are involved in building your website and allay any concerns that it might represent.

The Anatomy of a Website

There are essentially two vital parts to any website that businesses need to consider: the code and the server.

The Code: Everything you see and read on the internet is nothing more than a series of binary codes – a seemingly endless stream of 1’s and 0’s. It’s like the DNA of your website. And as your DNA eventually becomes the you that others can see and interact with, so the code is what will become the part of your website that others see and interact with.

The Server: The code, in order to be seen and read by others, needs a place to be stored and easily accessed. The place where these codes are stored, or hosted, are on servers owned by companies that continuously allow the transfer of information. These hosting companies pay for their servers, and to transfer all those billions of bytes of information, and they make their money by your renting space for your website on their server in the form of a “domain”.

A website thus becomes a website when your code occupies the domain space that you have rented.

What You Pay For

Renting space with a hosting company is a piece of cake and can be done for as little as a few dollars a month. A simple Google search will likely bring up a myriad of companies that offer hosting with different options. Most have a help line that you can call and simply knowing a little bit about what you want your website to do will easily give them a sense of what option is best for you. Most often it comes down to whether or not you plan to have a lot of data-heavy bells and whistles like streaming audio and video. These things take up space, which means you may need to rent more server space.

Once you’ve rented the space, you need your space to have a name. This is how people will remember your website. Ideally, you’ll want your domain name to reflect the essentials of what your business is about and it should be snappy and easy to remember. Acquiring a domain name is somewhat of an art. It’s quite possible that your perfect domain name is something no one has yet thought of, at which point it’s easily acquired through your hosting company at no charge. However, if your perfect website name is owned it can be a challenge to acquire. There are entire companies that purchase domain names with the sole purpose of brokering them to people who want the name for their business. At this point you have to decide what the domain is worth to you. If someone has already beat you to it and has built a whole site around that domain name it might be best to explore other options. If it is available for purchase, then it all comes down to what you’re willing to pay.

The code you can also pay for, but most hosting sites now come with their own website builder which can handle the code for you. Although these website builders are rudimentary, they can easily handle a variety of different website formats and give the user several different style sheets to choose from. If you have time, building your own website can be fun.

WordPress

Stepping it up a notch, WordPress has become the gold standard in website design. WordPress takes a day to learn and a lifetime to master. Ultimately, it is an incredibly powerful and versatile tool for building websites. The program (or code, since technically it’s not a program) is free, but you’ll definitely be investing your time to learn how to use it. It can be as simple as downloading the code for a template, or completely building your own style sheet and code right from scratch. Scouring the web there all kinds of add-ons that are available that are simple enough to add to your website’s code and that can make your website all the more engaging to the visitor.

Website Design

Website design has become a niche all unto itself and there are plenty of companies and freelancers out in the marketplace who are happy to do the legwork of building the code for your website for you. This is essentially the code that you can pay for and although prices can vary substantially, so can the quality of the workmanship. Obviously, a more complicated website brings with it a heftier price tag. It’s standard practice for companies and freelancers to have a portfolio of designs so that you know what your getting into before you buy, but ultimately their job is to make your website as concise, easy to navigate, and engaging as possible.

Etiquette in the Virtual Office Environment

The office is a constantly evolving environment. In fact, the tech boom has given rise to a brand new work environment unlike the world has ever seen. Globalization and the internet have transformed the way we do business, altering the landscape and changing the way workers, united under the banner of a common vocational purpose, interact and see a project to completion.

Online office environments, like oDesk and Elance, have become an increasingly common way to infuse expertise into small businesses by outsourcing skills and aspects of a project that may not fall within the core competencies of its key constituents. In fact, it is now possible to see a project from acorn to oak by building a workforce of contractors from around the world operating in a virtual office environment which tracks their time and progress.

Operating through the soft barrier and anonymity that is the internet, it’s easier than ever to be detached from some of the more mundane aspects of the job. In their infancy, virtual office environments were a breeding ground for employers looking to get something for nothing by offering the promise of work to desperate contractors. Thankfully, the market has found a way to regulate itself and, though the problem does still persist, it is no longer the norm. Employers will be keen to protect themselves from contractors looking to make a quick buck and leaving them in the lurch with poorly executed, or incomplete, work. On the other hand, most contractors will be inclined to protect themselves, and usually only want to be compensated fairly for their time and their expertise. It’s important to remember that there is an element of give and take that is essential to making the relationship function optimally.  

As tempting as it might be for an employer to contract the data entry services of someone working for $1 per hour in a distant country, there’s no guarantee that what is needed will be communicated effectively or that the work will be done correctly. One might even be persuaded to convince several prospective contractors to complete samples in order to prove that they are capable of completing the work and then running off with the aggregate without compensating a single contractor for their work.

When dealing with any contractor in an online environment the key is to first give them the benefit of the doubt. Knowing that they are capable of what they say they are is important and most will be able to provide a track record of successfully completed work. Inherent in the system of most E-offices is a feedback system and, although abuses are not unheard of, there is also some legitimacy to them and should be another factor to consider before making a hire. Lastly, reach out – a virtual office relationship is still a relationship and a quick Skype call can go a long way to establishing trust between contractor and employer. Employers demonstrate that they are the real deal, with honest money to pay for an honest service, and this informal interview process is usually enough to unveil the wizard behind the curtain.

No matter who you hire for what service, keeping the lines of communication open is essential and a “set it and forget it” mentality is never a recommended approach. As your business grows, so will your relationships and it’s important to nurture them and keep in mind that sacrificing some early returns can, with the right amount of patience, generate greater stability over the long haul. 

Five Tips for Managing Client Expectations

Nothing is more essential to a successful enterprise than repeat business. Every satisfied customer allows your brand to be passed around by word of mouth potentially creating a snowball effect that could be the difference between the long-term sustainability of your enterprise, or it ending up being a fleeting experiment. Referrals are your best friends and a one dissatisfied could spell the end of your business and is to be avoided at all costs.

Whether you’re a web developer, digital media consultant, graphic designer, or content creator, the clients that come looking for your services will bring with them some level of expectation, and it’s your job to manage those expectations. Below are 5 handy tips and tricks designed to help you navigate the mind of your client, understand their demands, and keep them and their friends knocking on your door.

1) Get to know what they know – No matter what a client might come to you for, if you know what they know about what you do, it changes the level of expectation. Some clients might have an in depth understanding about what it takes for you to do your job and some might be completely clueless and the key to maintaining customer satisfaction in either case is the level of sensitivity with which you handle each. It should be clear by the terminology they use when they speak to you, or how they respond to any questions you ask, so just be mindful.

2) Know what you’re capable of – Nothing upsets the balance of someone’s expectations more than being given false information. If you design websites and a client has come to you saying they need their site to go live in 24 hours, sometimes it’s better to risk losing the client rather than promise them that it can be done and risk not completing the work. No matter how much extra effort you might put into getting it done, the chances are your client won’t be sympathetic to your plight. They are under pressure too and all they’re likely to remember was that the work wasn’t completed when you said it would be.

3) Don’t be afraid to involve your clients – Some clients might not have the faintest idea of what’s involved behind the scenes of a good marketing video, but everyone who’s in charge of a project appreciates having their ego stroked. The more decisions they make, or the more they see of themselves, there is an increased likelihood they’ll take ownership of the project and value the work you did alongside them. However, remember that there’s a fine line here – some clients are just too busy to be bothered, and some can become so involved that it compromises the quality of the project.

4) Be available – The work has to get done but it’s not advisable to turn the ringer off on your phone – ever! The service you provide is meant to be a direct response to what a client has in their mind and the work has to get done in the spaces between them communicating to you exactly what that is. Every fragment might prove useful in you being able to deliver on their wildest imagination and should not be ignored. A client will remember every time that they tried to reach you and were unable to because it was time that they set aside, time they thought was important, and time they eventually wasted. Time is money, and they can give theirs to someone who will offer them the time they need.

5) Let someone else disappoint them – It’s time for a reality check – you’re not the only one who does what you do. Out there in the world is someone who others can go to for the exact service that you provide, and it’s likely you’re not the only one they’ve called. It’s also not uncommon to find a prospective client that simply has completely unrealistic expectations, and there comes a point where it’s imperative to stand your ground on an issue (work load, deadlines, rate of pay, etc.) because the integrity of your business will be at stake. A prospective client might simply hire the cheapest option around and don’t be afraid to let them. The chances are likely that they won’t be happy with the work that got done and will go somewhere else the next time. Be sure that if they do finally come around to you, and not simply the cheapest option available, that you do deliver the value you promise.

Ways to Save On Startup Legal Fees

If you're starting up a business there will come a time when a good lawyer will be your best friend. However, that doesn't mean you need to utilize their bill-by-the-minute services for every legal decision you make. There are ways to avoid legal fees. Consider these options:

Go Boilerplate

If you've ever signed a renter's agreement for an apartment you were probably using a boilerplate contract. This is a template agreement already drawn up by a lawyer and is readily accepted by both sides. You might find that many of business contracts can use boilerplates that are available for free on many online legal resources sites. These contracts can include:

• Commercial building lease agreements
• Employee contracts
• Vendor agreements
• Non-disclosure agreements

Just because you're using a boilerplate contract doesn't mean you can't put in your own terms, dates and names. That's what these contracts were created for. Here's a dirty little secret: You know that expensive lawyer you hire to write up your contracts? They use the same boilerplates. You didn't think they wrote every word of a new contract did you?

Ask For a Fixed Fee

Much like the boilerplate contracts, there are also boilerplate services. Filing for a trademark or setting up a corporation are pretty much routine. The only changes that are made are the names in each of the contracts.

Does this mean you should be paying a lawyer by the hour to get those papers in order?

Not at all.

Ask around and see if you can find a lawyer to handle those kind of for a fixed fee. That means whether it takes them two or 20 hours it will only cost you one price

.

You could also offer stock options in exchange for legal services. The caution with that is giving away too much for the kind of "simple work" mentioned above. Your new investors might not be happy about that.

And, if you want to avoid hiring a lawyer for basic corporate services, consider using a document filing service (like CorporationCentre.ca!) to submit your paperwork at a much smaller fee than a lawyer may charge.

Part-Time Lawyer

You might find that after your initial start-up filings you don't need a lawyer all that much. However, you're now stuck paying a hefty monthly retainer to a law firm. Not a wise move.

Instead, look for a firm that can provide you with a part-time attorney. This is someone you can talk to once a week for a reduced fee. Save up your questions and make that weekly meeting count. You can also look into legal insurance. You pay a small premium in exchange for getting a lawyer only when you need them. That's a lot less than the big retainer fee.

If you should ever come across a complicated issue with taxes or find yourself being sued then you don't want to turn that into a DIY legal matter. Get a good lawyer on your side. For everything else, look for flexible options from your legal firm.

Overnight Success Doesn't Happen Overnight

The business marketplace is littered with so-called "overnight success" stories. Because we live in a microwave society, we want everything fast.

We want to lose weight in a weekend by taking a pill. We want to download everything in a blink of an eye. And we certainly don't want to wait for success.

Here are some truths about the overnight success phenomenon that you should think about the next time you hear one of these stories.

It is the exception, not the rule.

Do you seethe with envy every time you read about an overnight success story? One of the most popular is how Roxio, the makers of the app sensation Angry Birds went from zero to hero overnight.

Yes, it was a great success story and they probably never have to develop another game (but they will). However, the truth is Angry Birds was the 53rd game that this company created. That would be 52 other games that went through development, testing, marketing, implementation and lackluster sales.

Overnight success? Hardly.

Sure, a company can get fast results and see their profits soar in a short amount of time, but for the majority of businesses success can't be rushed.

You're hearing the hype.

It looks good for a company to promote themselves as an overnight sensation because we all like a winning story. It also makes for good press to have the Cinderella syndrome play out of someone being plucked from obscurity and plopped down in their dream life.

However, a little digging will reveal the truth behind the hype. Even the simple act of filing corporation papers takes time.

The reality is that a company's success is often built on a lot of past failures. Those failures might not all be related to that company but you can bet the board of director, the developers and the sales staff have had years of experience in the business world that lead them to this point in their careers.

In fact, if someone has worked for just five years prior to starting that company, they are bringing close to 10,000 hours of experience. So, any time you hear a story about an overnight success just ask yourself, "What are they leaving out?"

Being number one could blow up your company.

Under the heading "be careful what you wish for" comes the notion that a true overnight success might actually blow up your company. Imagine the potential success of a Super Bowl commercial.

Not only will literally a hundred million people see that spot play out but it could also go viral, bringing in millions of more viewers. If that business isn't ready for the onslaught of potential customers then their website could crash, their staff will revolt and they'll lose a lot of business.

Planning for success is just that: "planning."

That should mean being ready when it finally arrives.

$1 Incorporation Day!

CorporationCentre.ca Small Business Week Celebration 2013

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Crazy Business Ideas That Worked

There is no telling where the inspiration for the next great idea will come from. You could dream up a new invention or think about a perfect solution for a problem in your life. Wherever that idea comes from don't be discouraged if anyone thinks it’s crazy. All it takes is that one great crazy idea to launch a career and fill up a bank account.

Here are some examples of crazy ideas that turned into serious cash:

The Million-Dollar Homepage

How many times have you thought, "if only I had a nickel for every (fill in the blank)?" Alex Tew took that concept and turned it into an advertising bonanza. He set up a webpage which was a kind of virtual click-through billboard. There were 1,000,000 available pixels on the page that he was selling for $1 a pop. It took him just over a year to reach his target goal. The billboard is still up and drawing new visitors every day. Not bad for a crazy idea.

Doggles

If there is one thing folks love to do it is pamper their pets. When Roni Di Lullo noticed her dog squinting up at bright sunlight she thought he might benefit from the same item she used: sunglasses. All it took was a little product development experimentation and Doggles were born. So was another million-dollar business.

Pooperscooper

Speaking of dogs, there is always a daily cleanup that occurs when you've got a pup around the house. Well, it's supposed to be a daily cleanup. In some cases, folks let their dogs do their "business" in the backyard and hope that it will somehow disappear. It won't. That's good news for Matthew Osborn who created a company that offers full service dog poo removal services. That local homegrown business turned into a national franchise which is now the largest pet waste removal company in America.

Lasermonks

Throughout history, monks have been known for their studious nature. It seems as though every monastery has their own cottage industry used to raise money for the poor and for the upkeep of the brothers. Back in 2002, Father Bernard McCoy was shopping around for cheap printer ink and decided to make his own from recycled cartridges. Thus it was that Lasermonks was born. From first year earnings of $2,000 the company has gone on to make over $4 million annually. Not bad for some reused ink.

So what is your crazy idea? Maybe it's not that crazy after all.  

Mobile Trends That Affect Small Businesses

A study from AT&T shows how reliant small businesses have become on mobile technology. The 2013 AT&T Small Business Technology Poll mentions that 85 percent of small business employees now use a smartphone to help with their jobs. 

Customers are becoming more mobile too. The International Data Corporation, a global marketing intelligence firm, says the number of smartphones shipped now outpaces the number of other cell phones around the world. Tablets are on the increase with customers too.

Consider these mobile trends that affect small business:

Trend #1: BYOD – Bring your own device

BYOD or bring your own device is a trend that allows employees to use their Smartphones and tablets for business 24/7. According to recent surveys, the numbers of Smartphones sold outpaced the number of PCs. Maybe it's because the newest generation of Smartphones enables users to do everything their laptop does. Companies are utilizing BYOD as a way to increase productivity. For a small business owner, allowing your sales staff to BYOD will encourage them to use that device for all kinds of work-related tasks throughout the day. That's going to be very good for your business.

Trend #2: Mobile Shopping

In the U.S., Cyber Monday sales are quickly building towards outpacing the traditional top selling Black Friday sales and those are only two days out of the year! The vast majority of mobile tech users have made purchases through their phones and pads. It's not just the ease of one-click buying that customers appreciate but also the ability to shop and compare items right in the store. When your mobile application can make that shopping experience easy to navigate then you're going to build a stronger customer base. This means your website should be adapted for mobile phone use. Perhaps you should develop a separate app for your online store. At the very least there should be a lot of testing to work out the potential bugs. You might have only one shot at grabbing a mobile shopper, make sure your website is ready.

Trend #3: LTE – Long Term Evolution

Long Term Evolution networks or LTE are becoming all the rage for many Canadian businesses. These networks are allowing for all types of innovations like HD video conferences, transfer of large data files and hot spot access anywhere in the country. LTE networks allow businesses to make instant uploads across a variety of social media platforms. This insures a greater change of market penetration than ever before.

In the future, smartphones will continue to improve the way you experience the everyday world. Projection technology, for instance, is rapidly getting better, with some phones able to project pictures and high-definition video to a wall the same size of a 50-inch television screen.

Mobile payments using your phone will now become a hot trend, with many businesses vying to create the better “mousetrap”. Technology will always be evolving. With better streaming technology, faster processors, smartphones are becoming more powerful and will become much more integrated into our lives.

What to Know About Running Contests

For many businesses, a contest is a perfect way to reward loyal customers and bring in new traffic. Best of all, you don't have to be a huge company with deep pockets to start a contest. However, there are some legal matters you need to be aware of before diving into the contest arena. Keep these guidelines handy before considering launching your contest.

Make it a sweepstakes or contest.

Sweepstakes and contests might sound like the same thing but in the legal realm they are quite different. A sweepstakes is when a person merely "enters" to win something. That can be as simple as submitting an email address or sending a text. On the other hand, a contest involves some sort of skill like writing an essay. You'll want to make that distinction because each one comes with a specific set of legal guidelines/restrictions.

Make a list of rules.

You'll need to make a list of rules for your contest and then adhere to those rules. These rules should cover the typical items such as deadlines, eligibility requirements and rewards. They should also cover every possible scenario in terms of winning and losing. In other words, don't leave anything to second-guessing.

Make it region specific.

It's easy if you have a small neighborhood business and want to run a contest for your customers. You would only have to look up the guidelines as it pertains to your city and state. However, if you want to go national or international you're going to need to do a lot more research. This is why many contests have built in restrictions as to who can play.

Make sure you understand the online rules.

Obviously, the best way to reach the most potential customers would be with an online contest but that will open the door to a whole new range of possible restrictions. You might think it's a good idea to run a contest in order to get an expanded email list, but in reality you could be prevented from using those newly acquired addresses. Make sure you follow the rules especially when there is the potential for minors to be exposed to your contest.

Make sure you get a good attorney.

Suppose your contest involves printing "golden tickets" that a customer needs to find. What if the printer messes up and everyone gets a golden ticket? That scenario actually happened to Kraft Foods back in 1989 when suddenly all of the contestants in a contest were claiming brand new cars when there was only supposed to be one winner. Since then the "Kraft clause" was instituted to cover those kinds of human errors. An experienced attorney who has crafted rules and regulations for a contest will know all about those clauses and that's who you should be retaining to help with your contest.

When it comes to contests, you want to make sure your company comes out as the real winner!

How to Get Customer Referrals to Grow Your Business

Before heading out to see the latest Hollywood blockbuster do you check the reviews? There are certainly plenty of places to read other viewers opinions. The same can be said for any type of service company. On many levels, these "reviews" are actually referrals, at least the positive ones are! 

Businesses depend on customer referrals to keep the sales numbers flowing. How are you doing with collecting customer referrals? Is there room for improvement? Try embracing these insights to help gather customer referrals to grow your business.

Collect LinkedIn endorsements.

Your company should have a LinkedIn page up and running. If so then you'll be able to start collecting endorsements from other professionals who you're networking with. In the grand scheme of things these endorsements might not make or break your company but every little bit helps. A good way to generate endorsements is to give endorsements. Stay active on your page and you should be rewarded in kind.

Ask and you shall receive.

You know it never hurts to ask, right? That applies for so many things in life not the least of which is getting endorsements for your business. If you have some trusted clients who you've established a strong relationship with then reach out to them and ask for an endorsement. Make it easy on them by providing the link to where you want that endorsement to go. Your goal could be as simple as increasing your Facebook likes or getting a written testimonial you can post on your website. Be proactive on your hunt for endorsements and you'll be amazed at what can come rolling back to you.

Sift through the recommendations.

If you do your homework right and the recommendations start flowing your way you'll want to sift through them to make sure they are the right recommendations for your company. This ability to sift through the recommendations works best when you're in control like on your own web page or Facebook account. Just because someone says, "I like them" doesn't mean you have to use that recommendation especially if that is all you get. Without writing them yourself, the recommendations should be thoughtful and specific towards what your company is offering. The more details the better the recommendation.

Spread the word.

Securing a good recommendation is meaningless until you can put it work for you. Every new positive recommendation should be shared with your entire social media network. It should also be included in any email blast that you'll be sending out to new customers.

Lessons for the Entrepreneur

As the old adage goes, "Those who can, do; and those who can't, teach."

This isn't a slam against your professor but, when it comes to business, nothing beats real life experience. There is a lot you can learn by diving into an entrepreneurship that you could never get from a classroom. 

Consider these lessons:

You Are Your Schedule

Show of hands: who has ditched a college class? Everybody, right? It's hard to imagine getting through four years of business school without sleeping in at least once a semester. Out in the real world you won't have that luxury. You'll learn very fast that your work schedule is what will dictate your potential for success. This might mean taking a meeting on a Saturday morning or working into the wee hours to get a project done. You don't have a lot of options because running a business doesn't mean you can get a "do over" test or hand in a paper late.

Say Goodbye to Down Time

There's a reason why Spring Break is so vital to college students: It's an official break. A week without worrying about tests or papers or classes. In your business you can take a vacation, but chances are during that first year of the startup you'll be putting in some serious work hours and vacations will be on hold. This doesn't mean you'll be working around the clock (not all the time at least) but you'll come to value that time you can take off a lot more.

Keep Your Eyes on the Prize

A typical college semester could be filled with a variety of classes. Yes, they're all going for the same degree but you'll be multitasking up a storm as you juggle multiple classes, homework, projects and tests. For your business you'll benefit from those multitasking skills you developed but you'll also learn the value of laser-like focus. Always keep the big goal front and center and learn to delegate.

Go Beyond the Books

As a business major you'll be required to take some basic accounting courses. The key word here is "basic." In your business, you'll be getting a crash course in whole new level of accounting with regard to taxes, payroll, insurance and shelters not to mention maximizing profits and adjusting for losses. That's a lot of numbers to keep track of and no, you won't be graded on a curve.

Business Relationships Trump Frat Buddies

College is a time for fun. It's the first change students have to live on their own and make decisions. Usually that means a lot of parties. Once you've graduated, you'll need to start building business relationships. Some of your fellow classmates might be a benefit in terms of networking connections but it's vital to strike out on your own and create forge new friendships with people who can help your company.

If you're in college now, embrace the good times because it's an upwards climb from here on out! 

Is Alternative Lending a Good Option for Your Business?

Every business needs working cash. What if you need to get that cash before you open your doors? Suppose you need extra capital to expand your business? There was a time when the only game in town was to go to a bank to secure a business loans. However, with the roller-coaster ride that is the economy, banks have grown skittish when it comes to lending. Luckily, there are alternative lending options available. 

Can your business benefit from these?

The Alternative Lenders

There are various types of alternative lenders that you can research to see who might be a good fit for your company. Depending on your credit history and earning potential, your selections might be narrowed down but that doesn't mean you can't ask. 

Here are some alternative lenders to consider:

Credit Unions: A credit union is controlled by its members. It's also a not-for-profit type of institution so you are sure to get some decent rates. You'll find credit unions based out of your community and supported by various trades people, thus the "union" part of the credit union.

Micro Lenders: These are organizations that are charged with lending funds to economically disadvantaged communities. The goal is to spur business and you might be able to ride that wave into some serious cash flow.

Factors Lenders: Sometimes referred to as Accounts Receivable Lenders, these are alternative lenders who buy up a business's accounts receivable and provides a kind of cash advance to the company. You still have to stay in business and pay back the loan but it's a good way to get quick funds.

The Advantages of Alternative Lending

One of the biggest advantages of alternative lending is the flexibility. Unlike the mountains of paperwork and guidelines you have to follow with a big bank, an alternative lender will often have a streamline process for putting money into your account. They strive to make things less complicated.

Getting approved quickly is another benefit. You won't be wasting time with alternative lenders and that can make all the difference when it comes to keeping your business up and running. Best of all, alternative lending is a smart way to go when you consider the minimal risk. Often you won't have to put up collateral so no need to take out a mortgage on your home. Shop around and see what alternative lending sources can do for your business. 

5 Myths About Small Business Law

There is a familiar courtroom saying that goes, "A person who decides to represent themselves has a fool for a client."

What that means is that you shouldn't cut corners when it comes to legal matters especially in your business. There is just too much at stake. That same idea can apply to what you think you know about the law.

There are many myths about small business law that can fall under the category of "They say" or "I heard." Neither one of those ideas should be trust. Case in point: These five myths about small business law:

Myth One: Patents keep your intellectual property protected.

There are many variables that go into filing a patent. One tiny slip-up could open the door for someone to swoop in and make a clone of your idea incorporating a variable that allows them to score their own patent. Although it might not be fair, a bigger corporation could also "borrow" your design and make its own modifications. You can take them to court but they can also crush you with their legions of lawyers. And if there is patent infringement overseas, good luck! This doesn't mean you shouldn't file that patent. Just know it's not a complete shield.

Myth Two: A contract has to be thick to be any good.

Wrong. The best contracts are the ones that are easy to assimilate and understand. One of the reasons that contracts become complicated, is because lawyers like to bill for any ongoing changes.  If you can get a contract boiled down to a few pages then you'll be ahead of the game. Just because lawyers like to throw around a bunch of legalese doesn't mean they have to. That isn't the law!

Myth Three: You can't be sued if you did nothing wrong.

Actually, you can. Anyone can sue you for anything. That doesn't mean the case won't be tossed out be a judge, but before that happens you'll still have to hire a lawyer and defend your company's interest. It could be that the litigant is just trolling for a settlement. Tort reform is a big issue in many countries. There are some places where the loser has to pay all court costs. That could curtail frivolous lawsuits but until that becomes a universal law brace yourself.

Myth Four: All you need is a trademark to protect your brand.

Not so much. First of all, getting a proper trademark can be a very complicated affair. Even when you do get a trademark issued it can only apply to certain territories. That means you have to go multiple places to be truly protected. On many levels, getting the right URL is way more important than a global trademark. Remember, that URL could also be many variations of the same word or phrase related to your company or product. Try to snag them all.

Myth Five: You only need a lawyer if you're sued.

We could spend hours telling lawyer jokes. Yes, they can be a hindrance especially if they are coming after you and your business. However, the best time to retain a lawyer is long before you ever set foot inside a courtroom. If you're not sure about an issue whether it has to do with taxes, R&D or even real estate spend the money to consult with the right attorney. This can pay off in the long run. 

Finding the Right Small Business Lawyer

You need a lawyer. By now you've already embraced that fact as a way of moving your company forward. However, you don’t know how to find the right small business lawyer for your needs. Obviously, asking a friend or business associate for a referral is the best first step you can take. Just because someone you trust recommends an attorney, doesn't automatically mean that attorney will be a perfect fit. Here's what you need to think about when interviewing potential business lawyers:

Fees: Clearly, you need to know how much your new lawyer is going to cost you. Will there be a fixed retainer or will they bill you by the hour? Is every quick phone call going to cost you big bucks? Yes, you should look for fair rates but keep in mind that a lawyer with a hefty hourly billing rate might be a better investment. That's because with experience comes higher fees. That experienced lawyer can finish an assignment in a couple of hours while the new lawyer might take several days. What would you be saving then?

Attention: As a small company you might have small issues to deal with at first. Will your new lawyer devote the same level of attention to your concerns as they would to a bigger company? They'll probably tell you that won't be a problem. Yet, if you discover you're not getting the attention you need then it might be time to change it up.

Return Call Rate: Coinciding with the amount of attention you'll receive will be the return call rate. How fast will your lawyer get back to you? If you're waiting a day or more then there are some problems you need to work out.

Patience: You're not a lawyer otherwise you could handle your own matters. Will your new lawyer have the patience to explain the legalese to you? You should never feel like you're asking silly questions and your lawyer should have the ability to walk you through complicated contract issues.

Focus: You'll be able to tell a lot about your new lawyer by the way they handle that first interview meeting. Are they constantly being interrupted by calls? Are they checking their Blackberry for emails? If they can't focus on a simple meeting how do you think they can handle the big stuff? Are you being too demanding asking for their undivided attention? Absolutely not. That's what you're paying for.

Excitement: You're not going into business with your lawyer but that doesn't mean they can't be passionate about what you're trying to accomplish. Are they excited to work with you? They should be! 

How to Avoid Facing Burnout

Burning the candle at both ends. Burning the midnight oil. Burnout.

It's easy to find yourself working extreme hours and putting yourself under a lot of pressure as you get your new business up and running. Even though that hard work might be paying off in terms of your bottom line, that doesn't mean you'll be insulated from suffering burnout. As much focus as you have been pouring into your business you also have to pour into your personal life to avoid facing burnout. Here's how you can avoid the burnout syndrome:


Early Morning Workout

As you dive into your new business, one of the first things that get shot out the window is your health. Don't skimp on the workouts. If you find that the end of the day has you too wiped out than squeeze in an early morning workout. This doesn't have to be a marathon at 4:00 a.m., but just something that will get the blood pumping and allow you to plot out your day. FYI: the morning is the time when our body produces the most testosterone, so it's a good time to get pumping.

Take a Walk at Night

Just as you should fire up your mornings with a workout, you should cool down your day with a night stroll. If you have a dog this is easy and it kills two birds with one stone. Even without the dog, take the time for a leisurely stroll, maybe after dinner. This is the perfect way to decompress after a day of being in demand.

Read Best Sellers

Or any other type of fiction. Give your mind a rest from the pressures of your business by escaping into a good book. Taking in a couple of chapters before falling to sleep each night could actually help your brain shut down and reboot like it does. It can also put you in the mood for sleep if you're not constantly going over in your mind all the stuff related to your business.

Take Up a Hobby

"I don't have time for pottery class!" Make time to try something new that piques your interest. Perhaps there is a hobby you've always wanted to start. Throwing yourself into that kind of project allows for a very Zen-like approach to relaxing. Even if all you're doing is building a jigsaw puzzle, it's still a way to accomplish something that isn't related to your business.

A Real Day Off

The late actor Larry Hagman made it a rule not to talk on Sundays. Literally. Everyone around him knew he wasn't going to be saying a word. For him, that was a way to re-energize for the week to come. You should take one day when there will be no business calls, no business emails, no business meetings. Hopefully, you can do that once a week. Be sure to let your staff know you're off limits!

Registering Your Trademark in Canada

Standing out from the crowd is important for small businesses to get ahead and grow their customer base.  A great way to do that is to come up with a distinctive word, symbol, or design to brand your company.  But how do you keep that distinctive identity that differentiates between you and your competitor?  Trademark it.

A registered trademark legally protects your intellectual property from misuse and imitation.  But keep in mind that if you register your trademark in Canada, it is only protected by law in Canada.

A good trademark consists of distinctive terms which are often arbitrary and fanciful, rather than suggestive, descriptive or generic. Maximize the likelihood of registration by trademarking something completely invented or that makes only the slightest reference to the nature of the wares or services provided.

A trademark will not be registered by law if it is:

• the name or surname of a person (e.g., "Jane Smith");

• clearly descriptive of the wares or services in relation to which it is used (e.g., "Perfectly Clean" in relation to dry-cleaning services);

• a word in another language which describes the wares or services (e.g., "Gelato" - the Italian term for "ice cream" - in relation to ice cream products);

• deceptively mis-descriptive (e.g., "Air Courier" in relation to ground transportation services); or

• an official symbol, coat of arms, badge, crest, emblem or name (e.g., the Canadian flag, the letters "R.C.M.P.", the name "United Nations", the symbol of the Red Cross).

If there is a design component, you may wish to register both the language and design separately to get maximum legal protection.

Be prepared to wait for response to your registration application.  In Canada, the process can take up to 8-10 months to complete.  If there is opposition, the process can take much longer.  Fees are $250 for each trademark request and non-refundable, so make sure your trademark is distinct and original in order to have a successful registration.

For more information on trademarks, please visit CorporationCentre.ca!

5 Steps to Hiring Inexperienced Candidates

There is a first time for everything. That includes hiring someone to do a job.

If you're lucky, you can find an employee who is well versed with whatever type of task you want them to perform. However, there is often the opportunity to hire an exceptional employee who doesn't have any experience related to your business.

But is it crazy to hire someone without experience?

You might discover that training a new employee from "the ground up" is the best way to get what you want out of that worker. In other words, they're not going to be approaching the job with any bad habits or preconceptions. They are a blank slate. And that can certainly work to your advantage.

Here are five steps to consider when hiring an employee without relevant experience:

Spell out what is expected.

Depending on the job, there might be a training manual or "to do list" approach to the job. This should spell out specifically what is required of that employee. If you need to, create a guide for an employee. It's always better to travel with a map as opposed to just a destination.

Enhance the skillsets.

There is a reason that you're considering hiring a person without experience. They've impressed you with their attitude, prior successes and possibly related skillsets. It has often been said that a good sales person can sell anything. Just because you're selling cars, but are hiring a top vacuum cleaner sales person, doesn't mean you won't come out on top. Play to that person's strengths and build on that.

Consider their complete resume.

Someone without a lot of experience on their resume could have other areas where they have excelled. These unique experiences can indicate how they'll perform on your team. For instance, a person who has spent a lot of time doing charity work could be a natural fit for customer service. Someone who was in the military will understand how to follow orders and have discipline. When it comes to resumes, go deep!

Put them to the test.

Captain Kirk was famous for reprogramming a "no-win" scenario test. He got a commendation for original thinking. You should try to find a way to put your prospective hire to the same kind of test. This doesn't mean building a starship simulator, but you can probably come up with a challenging test to see how they might problem solve. The best result would have them asking for help instead of trying to do something on their own and failing.

Put them on probation.

You're taking a risk by hiring a new employee without experience. They should know that up front. There is nothing wrong with putting that employee on a probationary period. Just don't make it a double-secret probation. They should know they are being watched and their job is on the line. 

Finding Suppliers in China

If you're making a product for sale, then the specific cost of manufacturing of that product will make all the difference to your bottom line. It's no secret that Chinese manufacturing can deliver a wide variety of products are very competitive rates.

If this is your first foray into the world of outsourcing manufacturing to China, you need a smart approach. Sourcing from China comes with its own set of challenges that need to be overcome. Here's how to not make it a problem.

Determine Your Needs

 

Sure, you know what you want to make but in China there are different approaches to each manufacturing contract. Basically there are big corporations that will take on the job or farm it out to a 3^rd party vendor. As a small business owner, you might want to seek out the smaller family owned business for the startup. This type of company will probably be in a better position to provide you with direct access and support. You will avoid the markup when a larger manufacturer subcontracts out your job.

Research All Angles

Before you book your first flight to China, you'll want to do a lot of research. Build up a database of potential manufacturers by searching trade directories, chamber of commerce listings in China, Export Development Corporations or business associations. This can happen when you research comparable products to yours online. You'll start seeing some of the same company names popping up. Clearly these are the dependable factories. They should be your first stop.

Pick Your Top 15 Suppliers

Once you've put a list together, start making calls or sending out emails to set up relationships. You'll want to find out all the costs associated in hiring this company from raw materials to transportation. Make a list of questions that you'll be asking of all of your suppliers and then you'll be able to narrow down the list to your top 15. These you might want to visit in person to make sure they can handle the job. It's going to take time to find the best fit for your company's needs but you're better off exhausting all the possibilities before firing up the assembly lines. Do not put your entire manufacturing assembly line on one company. Spread the work between two or three companies depending on your volume of work.

Get a Local Guide

If you are traveling to China you'll definitely want to find a local business representative to help show you around. Hopefully, this will be someone who comes highly recommended and who you've set up arrangements with before landing. The best guides are usually the government trade representatives between your country and China. You don't want to ask around at the airport for a guide!

Should You Hire for Experience or Personality?

If all hiring was conducted strictly by reviewing resumes it would be very easy to make the best staff picks. You can quickly size up a potential employee's education and real world job experience by scanning their CV.

However, that won't necessarily provide you with the full portrait of that worker. That's why the in-person interview is a vital step in the hiring process. It's through the one-on-one interview that you can access the individual's personality and whether or not they'll be a "good fit" for your company.

All of this begs the question: Should you hire for experience or personality?

Building a Better Staff

If an employee doesn't have a specific skill set they can always be trained. That approach works best when the skills required have more to do with operating equipment or computer programs. When the requirement is something like sales or marketing, those skills might be harder to come by because they are personality based. Building a strong staff for your company means assessing your specific needs beyond the "I want to work with good people" idea.

A valuable employee needs to be equal parts dependable and a team player. The majority of folks who quit a job do so because they can't get along with a co-worker.

Is it their fault or the fault of the co-worker? How much of a role does personality play into that type of decision?

There is no guarantee that everyone you hire is going to get along and become the best of friends. They just have to work well together. However, there might be a slight edge when it comes to hiring personality over experience.

Putting Personality First

There are a few reasons why hiring an employee for their personality might be a benefit for your company. A staff member that gets along with others could mean they'll be sticking around.

A lower employee turnover rate helps increase productivity. If you don't have to take time out to retrain workers than you'll be able to focus on the tasks at hand. This idea of a productive team comes into play when there is room for advancement. Allowing for promotions within your company keeps the "family together."

The goal is to stick with the good hires and toss out the bad hires.

Every new hire means you're making an investment in that employee. Do you want your return on that investment to come back in the form of a good team member or someone who causes friction?

A person with an abrasive personality can still get the job done, but at what cost to company morale? You also have to consider your company's relationship with your clients and customers. Simply put, do you want the face of your company to be smiling or frowning? 

Top Female Entrepreneurs Under 30

Successful entrepreneurs come from a wide variety of backgrounds and they certainly aren't limited to a "boy's club." Here are 10 rising female entrepreneurs you should keep an eye on:

Sarah Prevette, 28, founder of Sprouter.com

Hoping to connect like-minded entrepreneurs, Sarah created an online community where these professionals can share valuable business insights and socialize. Questions asked by new startup owners are answered by the entrepreneurs who have already gone through the challenges of starting a business from the ground up. It's a face-paced environment that has attracted tens of thousands of community members and several "angel investors."

Ashley Qualls, 20, founder of Whateverlife.com

Ashley started her successful online business at the ripe old age of 14 but she was really working on websites since she was nine. The site offers all kinds of tutorials for setting up webpage layouts and HTML programming. Recently, Ashley was offered $1.5 million to buy out her company. She turned it down. Today, her web traffic averages up to 360,000 daily visitors.

Catherine Cook, 22, founder of MyYearBook.com

If you want a perfect example of brothers and sisters getting along than look no further. Catherine and her brother David founded this teen social site that currently clocks in with 25 million members and revenue topping out at $24 million. Look out Facebook!

Justine Ezarik, 26, founder of iJustine

If the success of an online entrepreneur can be defined by the number of followers than Justine certainly hits the mark. Currently she has over 1.2 million Twitter followers and over 400,000 Facebook fans. That is on top of the 1 million subscribers to her YouTube channel. What is Justine offering? Viral comedy videos. Can that be a business? When you consider that Justine has pulled in around $75,000 from YouTube alone than yes, it's a business.

Lauren Bush, 26, founder of FEED

Not every successful entrepreneur has to stay "online" they can actually get out and help folks in need. Lauren set up FEED as a non-profit organization dedicated to feeding the hungry. Since its inception, FEED has provided over 50 million meals at spots all around the globe. She has accomplished this goal by selling reusable grocery bags with half the profits from the sales going to the meal programs. It's a win/win all around.

Alexa von Tobel, 26, founder of LearnVest

The mission of LearnVest is to help young women foster proactive habits that can provide them with financial security for years to come. The goal is to start early in life and grow towards independence. The site started out with $1.1 million in funding and today has secured over $5.5 million in development funds and has signed up over 100,000 members.

Kyle Smitley, 25, founder of Barley and Birch

Organics are a big business and not just with food. Kyle Smitley understands the need for these types of products and created an organic clothing line for kids. These eco-friendly outfits have become a huge hit with the "green mom" crowd. So far she has managed to place her clothing line in over 25 stores.

Maddie Bradshaw, 15, founder of M3 Girl Designs

What would you do with a million dollars if you were only fifteen years old? You should ask Maddie because that's how much her school locker decoration and jewelry company has brought in so far. Her target are all the young girls her age and who would know better than one of their own.

Rachel Hollis, 27, founder of Chic Events

Chic Events was born in Rachel Hollis' basement in 2004 thanks to her passion for throwing great parties. She's turned that talent into an event planning business that has generated close to a million dollars in revenue. Whether it's a movie premiere, wedding or sweet sixteen, Rachel can make it a Chic Event.

Alexa Hirschfeld, 26, founder of Paperless Post

This is another sibling-founded business started by Alex and her brother that creates cyber wedding invitations. That simple idea has allowed the duo to bring in $6.3 million in funding and rocketed them to profitability within a year of opening their business.