Four Reasons Job Descriptions Are Essential to Small Businesses
What a job description does for a company is why they are so important to have for each role. Most companies use job descriptions as a recruiting tool, to define performance standards, and career planning. Those are all great uses, but here are four more areas that job descriptions should be used for in a company.
7 Business Building Tips For The Holiday Season
Now that the holiday season is upon us, there are a number of things you can do to drive up productivity, sales, customer satisfaction and profits. Each one of the below tips worked wonders for me when I was still in the automotive business, and they are still effective today for many of our coaching clients, so I know they can work for you as well.
Year-End Tax Planning for Businesses
While the fate of several business-related tax extenders such as R&D credits, bonus depreciation and Section 179 expensing that expired at the end of 2013 is uncertain, there are still a number of end of year tax strategies businesses can use to reduce their tax burden for 2014.
Community Involvement Helps Grow Your Business
Part of your advertising and marketing program needs to incorporate community involvement, whether it’s with local business groups, church functions, the local chamber of commerce or other local organizations. The community needs to know who you are and what you offer.
Cadillac Expands to Become Separate Business Unit
As part of the continued expansion of Cadillac, General Motors has announced a strategic realignment that will establish the flagship brand as a separate business unit. In addition, the new Cadillac organization will expand to New York with a new global headquarters opening in 2015.
Web Tools: Improving Business Through the Internet and Social Media
For years, engine shops have used the Internet to try and increase business. But too often, a shop’s website wasn’t being used to it’s full potential. Today, engine professionals are using their website as a tool to increase profits by selling reman/rebuilt components from their shop online.
Four Exit Strategies For Leaving Your Business
Selecting your business successor is a fundamental objective of planning an exit strategy and requires a careful assessment of what you want from the sale of your business and who can best give it to you. There are only four ways to leave your business: transfer ownership to family members, Employee Stock Option Plan (ESOP),
Cycling In New Business
Adapted from Margie Siegal’s article in Motorcycle & Powersports News Take a look around your shop. You have the equipment. You have the tools and you have the employees. But do you have all of the work your shop can take on? It may be time to add a niche to your engine building services and
Top 5 Reasons Business Deals Fall Apart, And How To Prevent It
A business sale requires the full attention and cooperation of the seller. Take your vacation before putting the business on the market. Then be prepared to dig in, be available and be actively involved in the stages of the selling process. Once it’s sold, then it’s time for that trip of a lifetime. Your engine
Workplace Safety Protects Employees and Your Business
It was a misty, cold and dreary fall afternoon in 1980 in Western New York; pretty typical for that time of year just ahead of the snow for which the region is known. It was early on in my automotive career and I was working at a 4×4 and Jeep salvage yard, rebuilding the manual
Working ‘On’ Your Business, Not Just ‘In’ It
Before I dig into an article about how to work on your business instead of in it, I’d like to share a story with you. Once upon a time, my accountant had to prepare 102 W2s in a single year for my shop. We had so much turnover, dealt with so much chaos and were
Jason Bruce Rejoins Holley as VP of Business Development
Holley Performance Products has announced that Jason Bruce has rejoined Holley as Vice President of Business Development. Jason is an industry veteran holding sales and marketing management positions with aFe Power, Street Scene Equipment, Holley, and Hooker Headers. In this new role, Jason will be responsible for developing and coordinating new business projects across the
7 Common Small Business Tax Misperceptions
One of the biggest hurdles you’ll face in running your own business is staying on top of your numerous obligations to federal, state and local tax agencies. Tax codes seem to be in a constant state of flux making the Internal Revenue Code barely understandable to most people. The old legal saying that “ignorance of
Are You Penny-Pinching Yourself Out of Business?
Five Expenses You Should Never, Ever Skimp On If you’re a small business owner, it’s probably a vast understatement to say that you don’t have money to burn. But according to Sean C. Castrina, there are some areas in which it doesn’t pay to cut costs. Here, he outlines five areas in which you should never be
Family Affair: The Challenges Of ‘Family’ In A Family-Owned Business
The phrase “Family Owned and Operated” creates a warm flow of positive emotions when you talk about your company to your customers, especially your female customers. But having family as a part of your business creates a whole new dynamic of which most people are unaware. Navigating the family in a family-run business can
Ed Pink’s Garage “Open For Business”
Hall of Fame engine builder Ed “The Old Master” Pink is embarking on a new chapter in his storied career, collaborating with long-time friend and associate Bob Brandt to launch “Ed Pink’s Garage” in Newbury Park, CA. The facility will be devoted to doing special projects that range from building and installing unique engines in
Shell Lubricants Showcases its Lubricants Technology and Business Values at Houston Grand Prix
Track Provides Ultimate Test Ground to Benefit Engine Builders, Race Enthusiasts, Consumers and Automakers Continuing a rich motorsports history, Shell Lubricants has proven again that its storied relationship with IndyCar translates learning from the track to real-world benefits on the road and beyond. Serving as the ultimate proving ground, education taken from the racetrack adds value to
Utilize the Concept of Social and Interest Groups to Grow Your Shop’s Business
The ability to graph peoples’ interests through social media networks allows users to tap into potential relationships that they might never have been exposed to. Word of mouth is the most powerful stamp of approval for any business. If a company goes out of its way to serve you, you sing their praises. If a
Tax Planning for Small Business Owners/Engine Shops
It is to your benefit to review your income and expenses monthly and meet with your CPA or tax advisor quarterly to analyze how you can take full advantage of the provisions, credits and deductions that are legally available to you. Running a hands-on engine shop can keep you pretty busy and at times, you
Using Customer Feedback to Improve Your Business
As a business owner, feedback is generally accepted as a way to make improvements to your shop or services, and is even a helpful method to short-term and long-term business decisions. For most shop owners, customer feedback is often immediate, allowing you to act upon it quickly. Feedback. We all seem to get it —
