What would happen to your business if you die unexpectedly? Could your business be sold quickly and for a fair price? Have you set aside enough money to take care of your family? Is there someone in your family who’s qualified, willing and able to take over and keep the business running? If your answers […]
Are you nearing retirement? Thinking about what to do with the business you worked so hard to build? If so, you face some important questions: Does anyone in your family want to take over the business? Are they qualified in terms of capabilities or licenses? Should you sell to a third party? Should you let […]
Have you ever heard the term “fully burdened rate” and wondered what it meant? Let’s look at hourly billing rates and see what should be included — along with what’s too often left out. You know what you pay your employees and yourself. But those amounts don’t constitute the full cost of doing business. In […]
The first premium payments under Colorado’s Family and Medical Leave Insurance (FAMLI) program are due April 30. For this first submission, however, the state offers a 30-day grace period. To avoid fees, penalties and other consequences, employers must make payments by May 31. A template is available under the “submitting your wage reports” section of […]
Do you work on federal, state or other government contracts? Do you understand what it means to pay employees according to Davis-Bacon or Colorado prevailing wage scales? Many small business owners bid — often as subcontractors — on projects on which one or the other of the wage scales, or both, apply. However, business owners […]
Many employees count on accessing affordable health insurance through their employers. They also turn to employers for benefits to save for retirement. Employers might offer a source of disability income and life insurance. But are these the only benefits employees look for from their employers? Numerous studies and surveys have asked employees what additional benefits […]
There’s a big difference between competition intelligence and being intelligent about competition. You should learn as much as possible about your competitors. But you don’t gain anything from expressing negative things about them — in writing or in person. Sure, you strive to be “better” than the rest. You want your customers and clients to […]
Would your business benefit from outside advice? Do you sometimes wish you had help making difficult or confusing decisions? Have you considered seeking support from a group of professionals to help with these hard choices? If you’ve been thinking about outside counsel, your choice has likely come down to a board of advisors or board […]
What, exactly, is a small business? According to Forbes, 99.9 percent of all businesses in the United States are small businesses. There are about 33.2 million small businesses. Of those, 27.1 million have a single owner and no employees. Small businesses collectively employ almost half of U.S. workers. Another 16 percent of small businesses employ […]
The business world is flooded with acronyms, buzzwords and buzz phrases. Some of the ones you are most likely to encounter include mission statement, vision statement, business plan, SWOT and SMART. What are these, and why do they matter? A mission statement focuses on what your business does and why it exists. You should include […]