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Find time for strategic planning
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Find time for strategic planning

Every business owner must find time for strategic planning. Failing to do so can leave you working blindly, in danger of crisis or even ruin because of unforeseen developments. Some experts say a CEO should spend only 50% of his or her time on daily operations, with the other half going to strategizing. But the ideal amount will vary depending on your company’s size and...

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28 Dec 2017
7 steps to choosing a successor for your family business
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7 steps to choosing a successor for your family business

Many family businesses don’t survive to a third generation. To give your company a fighting chance, carefully choose a successor. Don’t assume your son or daughter is the only candidate. Work with objective outsiders to identify potential successors. Let these individuals work in various capacities for your company, giving each a fair shot at rising through the ranks. When ready, pick your successor and clearly...

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21 Dec 2017
Q1 tax calendar: Key deadlines for businesses and other employers
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Q1 tax calendar: Key deadlines for businesses and other employers

Here are a few key tax-related deadlines for businesses during Q1 of 2018. JAN. 31: File 2017 Forms W-2 with the Social Security Administration and provide copies to employees, and provide copies of 2017 Forms 1099-MISC to recipients. FEB. 28: File 2017 Forms 1099-MISC if paper filing. (Forms 1099-MISC reporting nonemployee compensation in Box 7 must be filed by Jan. 31.) MAR. 15: If a...

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14 Dec 2017
Get smart: How AI can help your business
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Get smart: How AI can help your business

Artificial intelligence (AI) can help just about any business “get smart.” AI generally refers to technology capable of performing tasks that previously required human intelligence, such as image perception, voice recognition and problem solving. Integrating it into a CRM system helps you better understand buyers and generate sales leads. Using AI to assist customer service reps can free up their time to focus on urgent...

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07 Dec 2017
Cutting costs when you’ve gone over budget
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Cutting costs when you’ve gone over budget

If your company is over budget at year end, it’s a bit of a disappointment, to say the least. But don’t lose hope. You can still cut costs to either improve this year’s numbers or perhaps next year’s. Reassess your staffing levels to see if you can reorganize and eliminate underperforming positions. Also, review your approach to purchasing and consider canceling un- or underused services....

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30 Nov 2017
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