Category: Business Performance

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and S corporations. In some cases, a business may decide to switch from one entity type to another. Although S corporations can provide substantial tax benefits over C corporations in […]

It would be hard to argue against the notion that almost every kind of business today is data-driven. Without the information you need to run your company — be it financial metrics, marketing demographics or productivity measures — you’d probably fall behind the competition, and fast. For this very reason, “data capture” has become a critical […]

When many business owners see the term “financial reporting,” they immediately think of their year-end financial statements. And, indeed, properly prepared financial statements generated at least once a year are critical. But engaging in other types of financial reporting more frequently may help your company stay better attuned to the nuances of running a business in […]

According to Leadershipexcellencenow.com, “Micromanagement is a business management style where the boss or manager controls every aspect, no matter how small, of the work done by his or her employees.” Micromanagement can make employees feel as though their boss does not trust them to do the job they were hired for. Feeling demoralized, these employees […]

This is not the first or last time you will hear this: COVID-19 changed everything. But it has had a specific impact on business owners who are trying to figure out how their businesses will survive the disruptions of the past few years. There was so much uncertainty that it was difficult to see past […]

When you hire someone to work for you, the worker will likely be considered either an employee or an independent contractor. Usually, you will decide whether you want to onboard an employee or simply hire a contractor prior to advertising for the available position. That way, whoever comes across your job post will know whether […]

The COVID-19 pandemic shifted norms for the division between labor and leisure. As many office workers embraced new work-from-home practices, they experienced both gains and losses. On the one hand, many dispensed with a tedious and time-consuming commute; on the other hand, they found their work schedules blurring into evening and weekend hours. Feeling obligated […]

In 2001, the world was still reeling from the 9/11 attacks on the World Trade Center in New York City. Tensions were mounting in Iraq. Terrorists bombed a nightclub in Bali and took hostages at a Moscow theater. Accounting scandals had shaken investors’ belief in the ethics of senior management. CNBC began to present television […]

It is hardly surprising that employees would prefer to work 28 hours a week instead of 40. The latest argument for implementing a four-day week does not call for compressing the time between Monday and Thursday (or any other combination of days) into four equal segments. It would mean a reduction in total hours, say, […]

Effective internal communication has gotten more important since the pandemic and remote work decentralized teams. Better internal communication engages employees, keeps teams aligned, prevents duplicate work and keeps time from being wasted in searching for information. How can you supercharge communication no matter where everyone is working? Demonstrate empathy. Managers need to show that they know […]