July 5, 2022
Finding and keeping quality talent continues to be a top concern for companies of all sizes. For small businesses, the challenge is that much more daunting because we are often competing against much larger organizations with vast resources and brand recognition. It’s metaphorically like treading water in the deep end of a pool, or in some cases, the unfriendly seas!
July 5, 2022
As both our personal and professional worlds become increasingly digitized, sticking to old cash-and-check payment systems means businesses are losing time and money. Even for companies that are already accepting card payments, investing in modernized and integrated processes improves efficiency; provides value through increased collections, lowered cash handling costs and incentives; and improves your business’s relationship with clients and customers, inspiring loyalty.
August 5, 2022
Sweepstakes and contests are effective marketing tools that are used by businesses to promote new products, engage customers, and increase sales. Promotions of this nature have become increasingly popular due to the rise of social media. Sweepstakes and contests are often easier to implement, less expensive, and more effective at promoting a business’s products than methods used in a pre-social media age.
August 5, 2022
Reimagining how your employees experience your employee benefits can help you retain and attract employees. Much like how we experience other transactions, the Member Journey of your employees and their families is critical.
August 5, 2022
I last wrote an article for the Goering newsletter in February 2020, before the world came to a crashing halt. The article outlined potential New Year’s resolutions for all business owners and leaders as they led their respective organizations into a new year. After all, if these stewards of their businesses weren’t making time for introspection and “white space” to think strategically with the long view in mind, who was? I focused on the key issues of (1) reviewing and updating business succession/exit strategy planning; and (2) thoughtfully evaluating whether one’s current outside advisors could still advise and provide the necessary resources to take the business to the next level of sustainable growth.
August 5, 2022
Every few years, organizations have an opportunity to press pause, reflect, and charter a new course. Strategic planning provides this opportunity. Best practices for strategic planning include assessing where your organization is today, aligning on a vision for the future, establishing key performance indicators to measure your success, and charting milestones to guide your actions.
February 3, 2023
There are so many great things about being a small business: the close-knit working environment, contributing to your local economy, seeing your vision come to life and thrive. The ultimate goal – of course – is to grow into a bigger venture, whether it means buying commercial land to build on or leasing local office space to grow into. You need to have the right small business growth strategies in place if you want your business to expand in a stable way; strategies that will set you up for long-lasting success and take your bottom line into consideration.
February 3, 2023
You’ve devoted your best years to growing your business and accumulating wealth, which you hope to enjoy in your next chapter and eventually bless your loved ones or favorite charities. You also want to ensure that this wealth gets distributed according to your wishes instead of getting consumed by taxes both now and after your death. To accomplish this, there are things that you can and should do now.
February 3, 2023
You might call family businesses in America the “Quiet Giant.” “Quiet” because up until recently, the family business sector did not have a dedicated seat at the table in Congress. “Giant” because America’s family-owned businesses are the foundation of the US economy, contributing nearly 60% of the country’s private employment, accounting for 78% of new job creation, and representing $7.7 trillion per year to GDP.
March 3, 2023
The limited liability protections that corporations, limited liability companies and other business entities afford their owners is one of the driving engines of our entrepreneurial economy. As long as the owners mind certain formalities and steer clear of fraudulent conduct, the limited liability feature of these business entities will protect the owners from any personal liability with respect to their business activities. It goes without saying, that this dynamic by itself allows entrepreneurs to take risks they otherwise might not take.