NEW! Business Tips
May 10, 2016
Tax season is over but now is the right time to recap and implement strategies to have an easier process during your next filing season. The beginning of the year for small business owners is usually somehow stressful mainly because of tax season. You are having to put all the business paperwork together to file taxes. No matter whether you’re a sole proprietor or corporation, if you sell goods or services for financial gain, you should have an accounting structure in place and if you collect sales tax you must send that money to the government. It’s theirs anyway. Tax returns and payments are due by April 15th or the first business day thereafter.
The first questions you will be asked when filing taxes is: What is your accounting period? For almost every business it’s from January 1 through December 31 of the same year. The year is broken down into quarters and typically you should be paying an estimated tax to both state and federal offices each quarter. But to pay taxes is necessary to keep a record of your sales as well as your expenses. The best way to keep up with it is with preparation during the year.
April 25, 2016
Lately I have been thinking of the word “trust” as it relates to business. Most people would say business is based on good relationships and good relationships are built on trust. In fact for some businesses, relationships built on trust are everything.
Trust means someone has our best interests at heart and will strive to act in a manner that protects our best interests along with theirs, however difficult it may be at times. We trust our professional advisors will give us good advice and challenge certain ways we do things in order to protect us. We trust our suppliers not to push the latest promotion but to promote items that will benefit our business, even if it means they do not make the monthly sales quota. We want to deal with those we trust and I believe once we find those who are trustworthy, we will continue to do business with them and overlook the minor glitches and modest but necessary price increases. Trust can even be a competitive advantage.
April 12, 2016
lead·er·ship - ˈlēdərˌSHip/ noun Meaning: the action of leading a group of people or an organization.
Defining Leadership is a hard task. Leadership is subjective in many cases and is defined in many ways. Leadership can be defined as many things in various situations involving different people. You do not have to be the Mayor of your city, or the boss of your business, or the head of the organization in order to be a leader. I would say in most cases leadership is not fostered by the title you hold but gains its power from the actions you take.
The Angelo State University Small Business Development Center is excited to announce that we will be hosting the live simulcast event Leadercast Angelo State right here in San Angelo, TX. With the help from our partners and sponsors, we will participate as a host site in a live broadcast presentation that originates from Atlanta Georgia. This is an annual experience with the purpose to instill leadership values and inspire individuals to achieve more in their daily lives.
March 29, 2016
If a picture is worth a thousand words, then your logo must be worth a million!
Your logo is the face of your business. It is a key element when it comes to advertising your business and is at the center of all of your branding. This is why it is important to have a logo that you can use anywhere, put anywhere and send to anyone.
Many small business owners run into the issue of not having their logo saved as a digital file. This makes it very difficult for print companies to replicate or create marketing materials for you. In order to better understand your logo files, I would like to explore some of the different file types and explain why it is easier to work with some files as opposed to others.
March 14, 2016
I am continually fascinated how our past experiences shape our future decisions. Such was the case when I landed my first teaching job. The principal called to offer me a fifth grade teaching position and before I accepted, I asked one question, “May I ask about the procedure on how flags are raised and lowered each day at school?”
Her answer surprised me, “The janitor takes care of that.” To which I replied, “I would like to have the fifth grade class be in charge of the flag.” Having students, studying American history as fifth graders, raise and lower the flag was a natural fit. The principal said “Yes, that would be nice.” And I had my first teaching job!
So how did the desire to be in charge of the flag become so important for me. Simple. When I was in the fifth grade, only boys were crossing guards and only the boys raised and lowered the flag. All I wanted to do was participate in the raising of the flag. So fast forward many, many years and I was able to provide that opportunity over a ten year period to about 700+ fifth grade students.
Business Tips Archive
The most current Business Tips article is available on the San Angelo Standard Times online newspaper The following Business Tips articles are provided for you in an Adobe PDF format.
- Seven Questions Asked in a Borrowing Situation
- Starting Your Own Business Part 1
- Starting Your Own Business Part 2
- Starting Your Own Business Part 3
- Starting Your Own Business Part 4
- Positive Thinking
- In-home Service Providers
- General Partnerships
- Five C’s of Credit
- Emotional Intelligence is Not an Oxymoron
- Emotional Intelligence #3
- Contribution Margin
- Buying a Business