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The 6 numbers every small business owner should have on speed dial

(ENTREPRENEUR) Don’t wait until you have an emergency to have proper business contacts, make sure you know at least these six people for your speed dial.

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smartphone speed dial

As a small business owner, it’s easy to feel like you’re on your own island. But if you ever find yourself stuck in this mentality for too long, it’s probably because you’re unintentionally isolating yourself. What you need is a deep network of business services, partners, and contacts to help you succeed.

Regardless of what business you’re in, what your budget looks like, or the professional skills you have, it’s smart to develop business contacts with as many people as possible. Here are a few contacts you should always have at your fingertips:

1. Lawyer

Most small business owners think, “I can’t afford a lawyer!” But the truth is that you can’t afford to not have a lawyer. You don’t need an attorney in-house – or even need to keep one on retainer – but it’s wise to be on a first name basis with a business attorney whom you can call when you have a question or issue.

Not only will this save your rear end, but it’ll also significantly lower your stress level.

2. CPA

If you’re currently doing all of your month-to-month financial statements, expense filing, taxes, and financial planning, you’re not operating at your peak potential. Accounting is important, but it’s not something you should do yourself.

By hiring a CPA – whether through an outsourced accounting firm or as a full-time member of your team – you can keep your financials in order and free up your schedule to focus on the tasks that really matter.

3. Notary

You may or may not need documents notarized on a regular basis, but every business owner will encounter the occasional situation where a quick notary is necessary in order to push a project forward. It’s best if you have an in-house notary.

It’s not very difficult to become an official notary, so you can always encourage one of your administrative assistants to embrace the role.

4. Printing Service

Access to affordable, 24/7 printing services is a must. This enhances your flexibility and gives you the opportunity to quickly produce things like booklets, catalogs, brochures, calendars, and other promotional items.

An online service like PrintingCenterUSA is the most convenient option.

5. Banker

Having a reliable banker is good for a couple of reasons. First off, it gives you access to the right banking plan or package that fits your needs. (This cuts down on costs and ensures proper access to your liquid assets.) Secondly, it helps you with loans, lines of credit, and other financing services that are important to growing and scaling your business operations.

6. Insurance agent

Insurance isn’t something anyone enjoys talking about, but it’s one of the more integral pieces of maintaining and growing a successful business. Without the right insurance policies, you face higher risk and lower certainty.

By aligning with an insurance professional – preferably a broker who isn’t associated with one company – you instantly gain access to all of the best products that are available in the marketplace.

Most importantly, never stop networking.

People often think about business networking in terms of finding new clients and customers. However, it’s equally important to network for the purposes of establishing mutually beneficial partnerships and relationships.

Not sure where to cultivate genuine business connections? The answer is everywhere. From structured environments like small business conferences and trade shows to impromptu encounters at the supermarket or in your neighborhood, you’re surrounded by opportunities.

If the thought of putting yourself out there and networking with total strangers makes you nervous, preparation is the greatest remedy.

As entrepreneur Alyssa Gregory explains, “One of the best ways to ease any anxiety you may have as you prepare for a business networking situation is by developing an elevator pitch. An elevator pitch is a short description of what you do, who you work with and the value you offer to your customers or clients. The goal is to be able to deliver this ‘pitch’ in 60 seconds or less, in a conversational way.”

“Conversational” is an important word in the larger context of networking. Whether you’re building a relationship with an accountant or an investor, you don’t want the interaction to feel forced and scripted. Being genuine and relatable is the best approach.

Larry Alton is an independent business consultant specializing in social media trends, business, and entrepreneurship. When he's not consulting, glued to a headset, he's working on one of his many business projects. Follow him on Twitter and LinkedIn.

Business Entrepreneur

Here’s why you shouldn’t start a startup

(BUSINESS ENTREPRENEUR) Building your own startup and being your own boss sounds tempting, but be sure you make these considerations before starting out.

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Man at a whiteboard outlining his startup plan.

2020, a year for our generation that will most likely be marked in infamy for decades to come. At least I hope that this is the bottom of the barrel, because if there’s even further to go… Those fallout shelters are starting to look homey.

A lot of people, myself included, are looking for different options for new careers. Maybe it’s time to place some faith in those back-burner dreams that no one ever really thought would come to fruition. But there are some things about starting up a new business that we should all really keep in mind.

While you can find any number of lists to help you to get things going, here’s a short list that makes beginning a new business venture a monumental effort:

  • You need to have a unique idea with an impeccable execution. Ideas are a dime a dozen. But even the goods ones need the right business-minded person behind it to get things going for them.
  • Time, time, and more time. To get a startup to a point where it is sustainable and giving you back something that is worthwhile, takes years. Each of those years will take many decisions that you can only hope will pan out. There is no quick cash except for a lottery and you have to be extra lucky for those to get you anything. This whole idea will take years of your life away and it may end in failure no matter what you do.
  • You have to have the stamina. Most data will show you that startups fail 90% of the time. The majority of those are because people gave up on the idea. You have to push and keep pushing or you’ll never get there yourself. Losing determination is the death of any business venture.
  • Risk is a lifestyle. To get anywhere in life you have to risk something. Starting a business is all about risking your time and maybe your money to get a new life set up. If you can’t take risks for the future then you can’t move up in the business world.
  • Bad timing and/or a bad market. If you don’t have a sense for the market around you, which takes time and experience (or a lot of luck), you won’t make it. A keen business sense is absolutely necessary for you to succeed in a startup. Take some time and truly analyze yourself and your idea before trying something.
  • Adaptability is also a necessity. The business world can be changed at the drop of a hat, with absolutely no warning. Rolling with the punches is something you have to do or every little change is going to emotionally take a toll on you.
  • Lastly, not all of this depends upon your actions. If you start something that relies on investors, you’re likely going to get told “no” so many times that you’ll feel like it’s on repeat. Not everything is dependent upon your beliefs and whims. You need to be able to adjust to this and get people to see things from your point of view as well. But ultimately, it’s not all about you, it’s also about them.

These are just a few ways that starting a startup could stress you out. So, while the future could be bright, stay cautious and think twice before making any life changing decisions.

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Business Entrepreneur

Restaurants: Going digital is simple with these tools

(BUSINESS ENTREPRENEUR) In 2020, restaurants going digital is critical. Luckily, it’s also easy, safe, and may even save you money.

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Restaurants prepares delivery or to-go food for safety

So, you own or manage a restaurant and you have yet to “digitize” your menu for COVID-era safe ordering? No problem! Transitioning your menu and service to the virtual realm has never been easier. There are a ton of options for restaurants to choose from to keep your customers feeling at-ease, your front-of-house staff happy, and the whole service experience streamlined for all parties involved.

A free app with over 500 restaurant partners and 5k+ active users, AAHI is a user-friendly platform that uses QR codes to share menus and NFC for contactless payments. AAHI boasts a 25% order increase for participating restaurants and who can say no to that, especially during these tough times. Additionally, you’ll be cutting down on operational costs by around 30% (better tech equals less need for servers!), and your laid-off staff will be able to collect unemployment if they need to.

Another free (up to 200 views a month) app with an emphasis on curbside pick-up is Orderlina. Customers scan a QR code, which takes them to the same menu they would see if they were going to eat in, making it an integrated experience. A bonus is that the app links your menu to your social channels. I always say, free marketing is never a bad thing! Plus, you’ll be more likely to gain followers and receive micro-content from satisfied customers. Win-win!

Especially with winter right around the corner and outdoor seating becoming an increasingly limited option (especially depending on where you live), everyone in the industry is eventually going to have to make the shift to digital – the question is when. Physical menus have become a thing of the past. Not only are they potential vessels for spreading COVID-19, but if you are using disposable paper ones, you’re undoubtedly creating unneeded waste. Same goes for the exchange of cash, or card payments that require contact. Good riddance!

The common goal across the entire industry right now is to stay open and bring in capital in whatever capacity possible, while also maintaining a healthy staff and a pleasurable, safe experience for patrons. That’s going to require some adjustment and creativity compared to service pre-COVID. By converting to digital, you are putting your best foot forward into the uncertain future for the restaurant industry.

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Business Entrepreneur

Scientifically check your risk for burnout with this free quiz

(BUSINESS ENTREPRENEUR) This new tool lets you take a free self-assessed, science-based burnout test to give you an idea of how much self-care you need.

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Woman with face on table suffering burnout in front of computer.

Concerns of keeping self-care and mental health in a positive spot – specifically in relation to burnout – have been a hot topic of discussion. While COVID-19 has exacerbated these concerns and stress levels, the issue of burnout has been around for quite some time.

Work burnout is often discussed within terms of work-life balance. Simple ways to avoid that crash are enforcing a hard stop on reading or responding to emails at a certain time of evening, or to continuously clean your workspace. Easier said than done, but it is critical.

But sometimes you have to look at the nitty gritty. Sometimes you have to ask difficult questions about your job and your personality in order to understand how burnout is impacting you. This can now be done with Global IT Burnout Index, a free, science-based assessment to tackle your stressors before it’s too late.

This is geared towards people working in tech (as the website reads, “burnout in tech is high and real”), but is useful for any industry.

To begin, you simply start the quiz and answer a few questions about yourself and your job (e.g. “I find it difficult to relax after a day of work” and then you answer based on how strongly you agree or disagree).

There are 10 total questions, and no personal information is asked (no name or email). It is open data, meaning it will help people on the other side better understand burnout; but, it’s totally anonymous.

The quiz takes no longer than 2 minutes. At the end, it will give you a number out of 6 measuring your burnout rate. The higher the number, the more likely you are to experience burnout.

Burnout has the ability to manifest physically and mentally, and can take a toll on your body and mind. Knowing if you’re experiencing high amounts of activity that can lead to burnout can help you know if you need to take precautions to change things in your life or job.

For those of us working from home, the situation is a Catch-22. You aren’t currently forced into a stressful commute. But it’s harder to pull yourself away when 5pm (or whatever your end time is) rolls around.

For people in the office or on site, it’s the same thing. You get to socialize (safely, obvi) with your coworkers, but there’s those on-site pressures.

No situation is perfect, but understanding if you’re in a situation where you could use a change or some help is incredibly important – especially these days.

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