How Famous Businesses Create Great Company Cultures

If a small business wants to retain its top talent, increase employee morale, commitment and productivity, then the business must have a great culture. Company culture is a term that pops up a lot in business-related news articles. It refers to the internal environment of a business and the rules and procedures that drive employee, manager, and customer relations. A good company culture is essential for long-term business survival.

So, exactly how can a small business create a good company culture? Let’s look at some examples of famous brands that have managed to create truly excellent company cultures (selected by Corporate Business Solutions consultants):

Twitter – Twitter has managed to avoid some of the major pitfalls tech companies faced by developing a good company culture. The workplace is highly team-oriented with an emphasis on motivation and inspiration. Twitter also offers other benefits like free lunches, yoga classes, and even unlimited vacations for select employees. Those are only some of the reasons why Twitter employees cannot stop boasting about the company.

Warby Parker – Warby Parker is a major prescription eyeglasses brand. The company ensures that the internal culture is positive by arranging numerous events that drive positive interactions between employees. For example, working at Warby Parker means attending fun events, going out to interesting lunches, and overall socializing with co-workers a lot.

Zappos – The online shoe brand does not tread slowly when it comes to company culture. Zappos is heavily invested in providing great customer service. But the customer is not the only focus here. Zappos has 10 core values that all employees must learn. Zappos believes that happy employees lead to happy, and loyal, customers.

Squarespace – Squarespace is a highly successful startup that was once ranked as the best place to work in NYC. Why? Well, the reasons are many. The company has a “flat” hierarchy where the management level between the employees and the executives are few. Squarespace is actually applying a common startup tactic to a much larger company. Also, the company offers amazing benefits to employees like full health insurance coverage, pleasant workplaces, in-office stocked kitchens, and flexible vacation periods.

There are many things small businesses can learn from the above examples of creating a great company culture. CBS Corporate Business Solutions also want to include the importance of taking steps to reducing the incidents of verbal abuse and sexual harassment at the workplace if a company wants to create a truly great culture.

Small Business Loans Explained

Borrowing money for a small business can be tricky. The finances involved in this category are quite complicated. More often than not, small business borrowers don’t really understand the terms associated with business finance. Here is a brief explanation from Corporate Business Solutions consultants of some types of business loans available to small business owners:

Term Loan – These are a common type of financial assistant in the business sphere. A term loan is simply a sum of money that the borrower must pay back with interest over a designated period of time. The length of the payment period is important here. Term loans are paid back over a longer period of time, in contrast to short-term loans, colloquially known as payday loans which have high effective interest rates and are not a smart way to borrow money. Term loans offer the major advantage of having reasonable interest rates and lower monthly payments. However, businesses need to be in very good financial standing to obtain a term loan.

SBA Loan – These are small business specific loans made under a program authorized by the Small Business Administration. SBA loans are highly recommended for companies because these offer lower costs than typical term loans. The loans are created to boost small businesses, so the lender has your best interests at heart. While highly affordable and quite ideal for small companies, obtaining one of these loans requires following the procedures set forth by the SBA.

Line of Credit – Traditional business loans are borrowed once and paid over installments. Line of credit business loans are different in that small businesses can continuously borrow and pay back as many times as desired. Line of credit does have a maximum borrowing threshold, so borrowers can only obtain amounts lower than this threshold at any given time. Line of credit loans are largely similar to using revolving credit since no new approval process is needed as long as you stay within the limits established under the original terms of the line of credit.

The above is only a very brief explanation of the type of business loans available to owners. Small businesses should not borrow indiscriminately just because the financial instruments are available. Consult with us at CBS-CBS.com to find out if your business is borrowing wisely and what are the best options available for your business.

 

Paid Advertising Mistakes Small Businesses Should Avoid

Paying for advertising is one of the biggest investments small businesses make. Therefore, the money should be spent wisely. CBS-CBS.com consultants advise many clients on setting up small businesses budgets. One of the major issues we have seen is wasteful spending on digital marketing. Here is our advice for small businesses that want to avoid overspending on online ads. These are some mistakes to avoid:

Using an un-optimized landing page—The landing page is the primary reason your Google Adwords traffic becomes conversions. If the landing page is slow, boring, irrelevant, or not optimized in any meaningful manner, your site will not see increased sales. Therefore, make sure the landing page is tested to drive conversions.

Limiting promotions to only one paid advertiser—Paid advertising is a varied genre. Therefore, don’t limit your budget to just one, like Google Adwords. Make use of other paid channels such as Facebook, Twitter, and so on. Also, try to find niche paid advertising channels in which your target audience is most likely to engage. If your company is B2B, for example, then LinkedIn would be a better place to buy ads than Facebook.

Ignoring specialized publishers—When you buy an ad on Google or Facebook, you are advertising to a general audience. If you want to advertise to a very specific audience, then you need an ad publisher who can reach websites, blogs, and media companies that reach this audience. Therefore, do invest in publishers like BuySellAds and Blogads to reach niche audience with the likelihood of high conversion rates. You can contact a CBS Corporate Business Solutions consultant regarding reaching niche audiences through paid advertising.

Not using remarketing strategies—Remarketing and retargeting strategies aim to attract people who have already visited your website or followed a link. Visiting at least once indicates the interest of some sort. Therefore, paying for advertising to this audience is a great way to attract high-quality traffic. You can get more for your money considering that only users who were at least once interested in your products are returning.

Last but not least, your paid advertising strategy must match your budget and vice versa. If you are on a limited budget, redo the strategy to benefit from only the most lucrative channels, and not experimental ones. You should match the budget to strategy to avoid both overspending and underspending.

Hurricane Harvey Highlights the Importance of Small Business Disaster Preparedness

Hurricane Harvey has made landfall on the Texas Gulf Coast turning quiet streets into raging storm rivers. While the rescue operations are ongoing for regular folk, it’s important to pay attention to the hurricane’s impact on the small businesses in the area. The area Harvey is barreling through is a major hub of the state’s offshore oiling business. As a result, there are many small businesses operating in the region. Unlike the bigger companies, small businesses are hit hard during disasters like hurricanes.

As much as 40 percent of small businesses don’t survive disasters like Harvey, says a disaster specialist with Fox Business. Experienced Corporate Business Solutions have noted that many small businesses do not adequately prepare for natural disasters. It’s understandable that most people might be concerned about personal safety. But small businesses can lose a lot during disasters. The business can end up literally torn apart by a hurricane and lose inventory and property. Here are several suggestions from our consultants on how small businesses can prepare for disaster and minimize losses:

Have an Emergency Management Plan – All small businesses should have an emergency management plan at hand. Such a plan makes an early assessment of potential damages a small business could experience in case of a disaster. Also, such plans prepared in advance roles to take on for employees and managers in case a natural disaster strikes unexpectedly. In simple terms, this is basically a handbook on what to do in case of a flooding, hurricane, or a tornado. Your business absolutely needs to make this plan in advance, preferably with the help of experts like the ones you can find in CBS-CBS.com.

Take Necessary Steps to Physically Secure the Business—Small businesses should always have at hand the necessary tools to board up a store in case disaster strikes. Well prepared managers should call construction experts in advance to find out the best ways to secure the store so it can withstand most natural disasters.

Get Insurance Coverage – Business insurance coverage should include a provision for natural disaster emergency situations. Your company must be covered for the most common natural disasters the area you are located at faces. The FEMA website has some useful information for companies about getting disaster insurance.

Small businesses should also have a system in place to address local government emergency alerts for disasters. Set up a communication system so that all employees are informed of such alerts and evacuations when needed, are facilitated.

That Google Memo and Company Culture

If you are an avid consumer of business news, you must have already read about the 3,000-word Google memo by an unnamed employee that has gone viral. The memo details an employee’s dissatisfaction regarding Google’s new efforts to recruit more women and minorities. The author of the memo is rather offended by the tech giant’s push to hire more women engineers and cites “biological differences” between the sexes for underrepresentation of women in tech. Regardless of what you think about women or diversity, the memo raises an important question about company culture.

Small business owners often need to take decisions about hiring new employees that may not always be to the satisfaction of already existing employees. In local small businesses, for example, employees that have stuck out with the business for a while may not like it when the company wants to hire senior personnel to expand. Regardless of what hiring quotas end up being, business owners and managers must always maintain a strong company culture as well. The culture could be more diverse, or rather closed. However, all employees must ultimately have close working relationships that further the goals of the business. It’s never good for business when employees don’t get along well.

Here are several suggestions to small business owners from Corporate Business Solutions consultants about maintaining employee cohesion and building a strong company culture:

Listen to Complaints – There should be an effective method for employees to voice their complaints about the workplace environment. Some of these complaints will have merit, and most might not. Regardless, it’s important that all employees understand that the boss listens to them.

Let Them Know Empathy Matters – Don’t expect all your employees to get along like BFFs. Some will be close friends, others will not. The managers must ensure that employees have good working relationships with one another regardless of personal feelings. Some of these feelings may be sexist or racist, as in the case of the Google memo author. Don’t ever let your small business be embroiled in a racism or sexism scandal. It will ruin your business and expansion efforts for years to come. The company cannot change personal beliefs of workers either. What the small business owners can do is build an empathizing company culture where all employees respect one another.

Keep Goals in Mind—Make sure all employees share your vision for the company’s future. This matters more so than almost everything else when it comes to succeeding as a business.

If your small business needs to make the workforce more efficient and solve company culture issues, you can seek help at CBS-CBS.com.

How Small Businesses Should Protect Intellectual Property

Intellectual property is as valuable as cash assets to small businesses. Most companies, especially big ones like Google and Pepsi, spend millions each year protecting intellectual property assets. That’s because IP infringements are all too common. A company’s IP can be breached even via mundane things like signing a new contract with a partner or proposing a new design with a contractor. Losing the IP value of anything means that a small business loses an asset. Considering that, here are several methods recommended by Corporate Business Solutions to protect your company’s IP:

Sign NDAs with Everyone: It’s very important to include an IP clause in nondisclosure agreements that the company signs with clients, partners, contractors, freelancers, or anyone else. This indicates to the third-party that your business fully owns the copyright of a certain asset, and thus discourages infringement. If a breach does happen, your company will have the legal advantage to take the matter to the courts.

Be Careful of Disclosures Made to Freelancers: More and more companies are now getting business done via third-party freelancers or self-employed agents. If these non-employed workers get involved in the development of something, they can later make a claim on the IP. To prevent this, sign an NDA with an IP clause as mentioned above. Also, be careful of the sensitive disclosures you make to freelancers who might be able to use the knowledge to turn a copyright claim to their advantage.

Beware of International IP Rights: Small businesses themselves can be perpetrators of IP violations, sometimes unknowingly. This is quite true with regards to companies that sell internationally. Always make sure that patents, trademarks, or copyright claims of your company cannot be contested internationally. You will have to check international patents and IP registration to be sure.

Negotiate with IP Violators First: IP claim lawsuits are typically costly and prolonged for both parties. Therefore, it’s best to open dialogue with a potential violator before going to court. If you think an entity is infringing on your company’s IP, you can send a legal letter notifying them of the infringement, and send a cease and desist letter. You can hire mediation services to come to an agreement with the violator before getting into a lengthy court battle.

Always think of IP as assets. Things like patents add wealth to your small business. If you want to conduct a company review of business operations, including your risk for unregistered IP, contact us at CBS-CBS.com to find a consultant.

Microchipping Employees and Other Workplace Privacy Concerns

A company in Wisconsin will soon have approval to microchip its employees. Whether this indicates the business has reached an Orwellian age or is simply moving forward with technology will depend on whom you ask.

Of course, having microchips physically inserted into employees should unsettle even the most rationally pragmatic executive. In this case, the company will need an employee’s consent to insert a small “rice grain” sized chip between the thumb and the pointy finger of the hand. Participation is mandatory. More importantly, this chip is not a GPS tracker and will not be internet connected, so no one can hack into it. The only way to compromise the microchip, according to one employee at the company, is to have the employee’s hand literary chopped off.

As fascinating as micro chipping is, the story raises important questions about company goals and employee privacy. Small businesses, regardless of the sector, routinely collect very sensitive information about employees. For example, a typical small business would have access to an employee’s personal information, social security information, addresses, phone numbers, and other similar data that could wreak havoc in the wrong hands, Corporate Business Solutions consultants point out. So what exactly are the responsibilities of modern day companies to protect employee’s privacy and information?

First of all, as our consultants point out, all small businesses must have an employee guidebook that explains what data a small business might collect about them, how this data would be stored, and how the sensitive information would be protected from malicious entities like data thieves. It’s the responsibility of the business to be fully transparent with the employees regarding what type of information the business collects.

Small businesses should also ensure that the collected data is kept secure. This means investing in cyber security infrastructures such as safer networks, malicious software removal tools, and employee awareness training programs that teach good internet habits. Like the Wisconsin microchip company did, it would be wise to keep sensitive data disconnected from the web-connected company network.

To make sure your business is fully capable of ensuring employee privacy rights while keeping business secrets secure, get one of our Corporate Business Solutions Reviews.

Why Small Businesses Need to Keep Corporate Business Records

Most small business owners believe corporate business record keeping is just for big corporations. In our experience as Corporate Business Solutions consultants, most small business managers and executives consider record keeping to be just another administrative hassle that their work schedules can do without. But we strongly advise all small businesses to do better to keep corporate business records for a number of reasons.

If your small business is legally considered an S corporation, an LLC, or a C corporation, it is a must. Even small businesses that are not registered in this manner can benefit from keeping corporate-style business records.

Business Records Offer Legal Protection – The main reason corporations go to painstaking lengths to keep business records is for legal protection. Lawyers call this the “corporate veil” of protection in court. If your business is sued by anyone, including creditors, these business records will play an important role in showing that your company followed proper procedures and maintained legally required standards.

Safeguard Limited Liability – If a company is an LLC, corporate records are necessary to protect the “limited liability” function in the record. A potential lawsuit could demand personal assets in a settlement, all the while questioning the LLC’s compliance. Corporate records will safeguard your business’s LLC status.

For IRS Purposes – Corporate records can be requested by the IRS. If that happens, your business will need to provide it. IRS can demand documents like business meeting minutes under certain circumstances. Therefore, for tax purposes, these records are important.

In Case of a Sale – If the small business needs to go up for sale, a potential buyer would want to look at corporate business records to see how the business has performed. Also, they might want to make sure the company kept clean records and there’s nothing shady underneath.

For the above reasons and then some, CBS Corporate Business Solutions consultants recommend small businesses keep records of events like business meetings, annual reports, shareholder decision-making documentation, among others.

An Employee Wants to Change Teams. What Should You Do?

Most companies carefully assemble teams to work on projects. Bringing the right talent together is crucial for achieving sales goals, as our Corporate Business Solutions consultants often recommend. Ideally, the teams you assemble together should work well. But in real life, this is often not the case. Conflicts between teams can occur, even though it shouldn’t commonly occur. If a team member asks to switch teams, as a manager or the owner, you must give careful consideration to the request (even if you really don’t want to). Here are several things to do when an employee wants to change teams:

Ask for Specifics: Some employees are forthcoming, some are not. As the boss, you should ask for specifics why the employee wants to switch. It could be because the employee feels as if he or she is not up to the task assigned. It could be some other malicious reason as well, such as harassment. Small business owners must be very careful regarding keeping the company culture civil. If one employee feels uncomfortable due to a toxic workplace, then others might be too. Therefore, it’s important to get to the bottom of why an employee wants to leave the team.

Interview Team Members: Stories are never one sided. You should interview the other members of the team, especially the team leader, as to why the employee might want to switch. This should be approached carefully. You don’t want to sow discontent between your employees. Asking some general questions may help. Later, if you suspect bad behavior, you can ask more probing questions.

Talk to Other Managers: It is important to also get the input of other managers or executives on the situation as well. If the need to switch is caused by skills deficiency or misplaced skills, then the managers or HR should evaluate how the employee might have been misplaced on the team.

It’s not always easy to put together the perfect team. Company culture, HR evaluations, and overall management all play a role. Are all these aspects working well together at your small business? To find out, contact us at CBS-CBS.com.

 

What Small Businesses Can Learn from Richard Branson’s Secret to Success

Richard Branson, the famed CEO of Virgin, recently shared his secret to success on his blog. So what could have propelled a once unknown recording studio owner to become a billionaire celebrity? The answer is deceptively simple: to do lists.

Branson explains in detail how he is always making lists. He carries a small pocketbook with him at all time to write down things to do. He even shared a snapshot of a to-do list he had made way back in 1972 when he was only running his studio, The Manor. His list included lofty goals like learning to fly, as well as such mundane things like buying new stuff for his studio. Branson says his to-do lists help him turn his ideas, no matter how big or small, into a reality.

This is, indeed, a very interesting habit for anyone to have. Branson tells all entrepreneurs to make lists and break down big tasks into small and manageable tasks that can be ticked off on a to-do list. Our Corporate Business Solutions consultants agree. What Branson is showcasing here is a keen ability to remain organized and focused. The to-do lists are a simple yet highly effective way to do this.

No entrepreneur or small business owner is ever not busy. During hectic weekly schedules, it’s easy to forget things that one must do. These things include both personal goals, like Branson wanting to learn flying, as well as business goals. Our consultants always advise small business owners to find personally convenient ways to stay organized. To-do lists, as Branson explains, are a very good start.

To-do lists are a great option for small business owners to stay ahead of schedule. Using such a list on a weekly basis will lead to more productivity. When we do Corporate Business Solutions Reviews, we often recommend teams to use lists as a way of staying organized. Small business owners, too, can definitely benefit from this advice, as Richard Branson clearly did.