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Home Business January 1st, 2021 Digital Back Issue Cover

Home Business Winter 2021 (Digital)

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Winter 2021

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23 Articles

LETTER FROM PUBLISHER

The COVID-19 pandemic has impacted many business areas necessary for succeeding as a small business owner. These areas include sales, marketing, business operations, social media, and technology. One major area is financial management. Our cover story for this Winter 2021 issue will help you to meet the financial challenges brought by these uncertain times. “Always look for ways to diversify your company, particularly to strengthen it against negative pandemic effects.” An essential part of finance for a new business is start-up funding. Overall, the pandemic has reduced available capital through traditional funding sources (personal loans, credit cards, financial institution lending, etc.). This creates huge challenges. But all of the additional government funding, such as disaster loans and other lending sources, does provide opportunity for start-ups to access funding. Small businesses that have accessed…

LETTER FROM PUBLISHER

Money for Your Business

It was bushels of apples after an afternoon in an orchard that prompted Diana Blaylock to launch her business, Mama’s Best Bakery, in 2017. She started by selling apple pies on Facebook and business took off from there. The pandemic didn’t slow things down; instead, she found herself busy baking bread and other comfort foods from her home kitchen in Twin Falls, Idaho. During Covid, “people have been eating their feelings,” she says. In order to truly grow and scale her bakery, though, Blaylock needs funding. She tried a crowdfunding campaign, but with no real guidance or experience, it failed. The Idaho Women’s Business Center connected her with Crowdfund Better (via their collaboration called Crowdfund Idaho) which is guiding her through the steps to create a new campaign, and she’s optimistic that…

Money for Your Business

http://www.boyziimen.com/When you think of R&B, one of the first groups that comes to mind is Boyz II Men (http://www.boyziimen.com). Throughout their illustrious career that spans almost three decades, they have sold a whopping 64 million albums and are renowned as the best-selling R&B group of all time. Boyz II Men have also earned many accolades, including 4 Grammy Awards, 9 American Music Awards, and a star on the Hollywood Walk of Fame! Now, the legendary R&B trio is making waves in the non-profit arena with their charity, Boyz II Men House. It is amazing that even though Boyz II Men is very busy with their career — before the COVID-19 pandemic, they’ve held an acclaimed residency at the Mirage Resort and Casino in Las Vegas since 2013 — they still find…

6 Fantastic Business Ideas for Moms

Rather than work a 9-5 job every day, what if you could be your own boss and make your own schedule? That's where business ideas for moms play a major role. Starting a work-at-home endeavor is a rising trend that is only going to become more prevalent, especially with stay-at-home moms. This is because a lot of people appreciate their freedom, even if it means potentially lower wages. That said, sometimes the business is so successful that you wind up earning a lot more than you expected. While every mother's skill set may vary, I can assure you that there's something here for everyone. You just need to be willing to put time and effort into your business plan. Of course, the income, time investment, and difficulty of setting up the new business varies…

6 Fantastic Business Ideas for Moms

Beauty of Starting Again

Norm McLaughlin spent the first eleven years of his career in industry as a well-paid engineer. But Norm wanted to do something different. He took a significant pay cut and moved to an entirely different role in a non-profit organization. Norm had twelve great years there before the itch to take on a new challenge set in. With his background in engineering, he’d always enjoyed sorting out people’s computer problems, and as he did so, some would suggest that this was something he could do professionally. So an idea was birthed. Norm decided to launch his own computer repair business. He registered a business name, acquired a domain, and began working on a website. Looking back now, he realizes he really had little idea about much of what he was doing, but…

Beauty of Starting Again

Treating Everyone Like Rock Stars

As one of the founding partners of Innovative Dining Group (IDG), Lee Maen is a true visionary in the restaurant scene. Maen and IDG have launched some of the most successful and legendary restaurants in the Los Angeles, Scottsdale, and Las Vegas markets, such as Katana in West Hollywood and Sushi Roku (which pioneered the modern sushi movement). IDG also boasts international establishments, such as BOA Steakhouse in Abu Dhabi. Lee Maen brings extraordinary real estate and business talents to IDG, enabling the company to continuously expand their horizons. Home Business Magazine had the opportunity to catch up with Maen, who discussed the characteristics of a successful restaurant, tips for entrepreneurs who want to enter the hospitality industry amidst the COVID-19 pandemic, and more. Home Busines Magazine (HBM): Could you tell us…

Treating Everyone Like Rock Stars

Embracing Individuality Through Style

“Everybody wants to feel like the deities in today’s global pandemic social world and embracing individuality is the key to gaining that level of confidence. Since true beauty arises from the moment people choose to be themselves,” says Morati brand founder, Macho Jacques. The world is full of stylists, designers, and artists, but no visionary comes close to Jacques, an urban streetwear icon located in the small-town mecca of Neenah, Wisconsin. As an adventurous nomad, he captured innovative ideas throughout his life with a fiery passion for clothing as a creative art form. Jacques rebranded the very definition of modern vogue with erratically stunning attire. “Morati rejuvenates people’s inner divine gods and goddess energies,” says Jacques. The iconic designer’s vision entails revolutionizing how people see each other when they get dressed for…

Embracing Individuality Through Style

Navigating a Recession

I have spent over 20 years in the trenches specializing in buying, selling, fixing and growing businesses. When writing my first book in 2013, Sell Your Business for More Than Its Worth, I learned that 85-95% of all startups from 1-5 years are at great risk for going out of business, which is pretty common knowledge. However, when I wrote Exit Rich in 2019 and did the same research, I was flabbergasted at how drastically the business landscape had changed. Now, only 30% of startups will go out of business in the first 5 years. However, out of 27.6 million businesses, 70% will go out of business after being in business 10 years or longer. You hear about the big box public companies, such as Kmart, JCPenney, Steinmart, etc. But what…

Navigating a Recession

Remote Management Tips for the Home-based Business Owner

Here are three ways you can effectively manage your team as an entrepreneur working from home. 1. You’re officially in a long distance relationship. And like a long distance relationship, your commitment is outsized because of proximity. Since you can’t slide down the hall and have a quick chat, communication — clear, honest and frequent — will help you keep a strong connection. 2. Like any relationship, your team members are looking to you to be seen and heard. Working from home can seem like a vortex you go into but never escape from. I use tools like The 5 Love Languages to help identify what my team needs and how I can show appreciation for their work and who they are as people. Whether it's checking in via Voxer just to…

Remote Management Tips for the Home-based Business Owner

Sharing Journeys and Insights

The road to entrepreneurship is often mystifying and treacherous. It is filled with roadblocks, hindrances, and dead-ends that sometimes make people wonder how successful entrepreneurs were able to overcome all these challenges. Well, the journey wasn’t easy for Coffe’ Iman Summers, who once struggled to find a 9-to-5 job in the corporate world. But with her hard work, dedication, and determination to create her own path, she managed to become a successful journalist and the proud owner of a lifestyle magazine for entrepreneurs. Today, Coffe’ narrates not only her own story of failures and success, but also provides a creative platform for others to share their own entrepreneurial journeys, stories, insights, and experiences. She has interviewed and covered stories on several industry leaders, such as Robin Kelly, Luxury Law, Lisa Price,…

Sharing Journeys and Insights

Reducing Waste in the Environment

Never in history has cleaning been such a critical conversation at all levels. Cleaning is no longer a chore, but a vital necessity. David Shahan has over 30 years of experience in all aspects of cleaning, from managing large apartment complexes, to innovating an Uber-like dry cleaning service that was on the drawing board to become a franchise model, to researching cleaning product development. Through it all, he began noticing a trend that was doing more harm than good. Shahan saw a cleaning industry that was largely utilizing chemicals and packaging that were harmful for humans, pets, and the environment. Backed by his degree in finance, Shahan wanted to develop a company that made a positive environment and financial impact every step of the way, disrupting the unsustainability of the traditional cleaning…

Reducing Waste in the Environment

Search Engine Success

When operating a home-based business, one of your biggest hurdles is awareness; that is, getting your products or services in front of the right people. With over 4.2 billion people online and almost no barriers to entry, the internet is often the best place to start and grow your business. The question is, how do you compete with the almost 2 billion other websites out there? If you don’t have the budget to flood the internet with ads or the expertise to know how to do this effectively, SEO is a safe bet. These days, whether you’re running ads or not, it’s extremely important to rank highly on search engines. And with Google owning over 70% of market share, a relevant and high first page ranking on Google alone could make…

Search Engine Success

SEO When You’re Rebranding

When you're rebranding, it's important to avoid losing ground. 1. You can check your website's SEO positioning with tools like Majestic. com or Semrush.com. This will tell you how many links you currently have to your site and your actual website ranking. 2. When you’re rebranding, you’ll likely have a new domain. The absolute best thing to do is to retain ownership of your former domain, as this will stop others from being able to purchase it and benefit from all the work you’ve done in the past. Holding on to your former domain also allows you to keep your customers in the loop and control what happens when they go to your former domain instead of the new one. 3. Remember to let your customers know that you’re rebranding. I’d suggest having…

SEO When You’re Rebranding

Securing Your Company’s Financial Future

When a small business begins to experience growth, an accountant is not only recommended, but also a necessity. Every entrepreneur, small business, or start-up must ask themselves how they can benefit from the services of an accountant, and consider how they can assist with the nittygritty financial aspects of the business. The thought of filing taxes and general bookkeeping is something that can cause feelings of dread to business owners who increasingly want to be able to dedicate more time to big-picture tasks, rather than the day-to-day. However, while these tasks are undeniably tedious, they are not something that can be breezed over or rushed through. Mistakes and omissions can get you in trouble with tax regulators, and pleading ignorance over innocent errors won’t excuse them. As your business starts to grow,…

Securing Your Company’s Financial Future

Additional Quick Tips to Consider

If you've never considered bringing an accountant on board for your small business, here are some key points to consider that will open your eyes to the extent of the benefits they can bring. 1. Meet government regulations An accountant can deal with the fundamentals of tax returns and can also assist in government interactions by filing legal documents, registering companies, handling the company’s formation and share allocation, and handling payroll. 2. Stay ahead of trends A good accountant shouldn’t just be able to effectively complete the day-to-day tasks; they also have to keep up with trends, changes in rules, and regulations that may affect your business. They should be able to produce financial forecasts and make you aware of potential issues that may crop up well before they do. After a thorough financial…

Additional Quick Tips to Consider

Stay on Top of Your Health with NordicTrack’s Commercial S22i Studio Cycle

Let’s face it — the current COVID-19 pandemic has caused major, frustrating disruptions in our everyday lives. One huge issue has been the closings of gyms to halt the spread of the virus. Due to this, many entrepreneurs are now setting up their own in-home gyms to stay fit without having to venture outside. For those searching for the perfect exercise equipment for their home gyms, NordicTrack’s iFit-powered Commercial S22i Studio Cycle will guarantee outstanding workouts! You will love exercising with the S22i Studio Cycle throughout the pandemic and beyond. It is like having your own personal cycling coach in your home! Featuring a 22” HD Smart Touchscreen that rotates 360° and has a tilting display, the S22i allows you to do live-streamed studio cycling sessions with elite iFit trainers on…

Stay on Top of Your Health with NordicTrack’s Commercial S22i Studio Cycle

Amplify Your Work-from-Home Life with Elephant in a Box’s Dynamic Working Sofa

As a business owner, don’t you love innovative products that make the work-at-home experience much more productive and enjoyable? If so, you will go gaga over Elephant in a Box’s portable Dynamic Working Sofa — it is an incredible, comfy couch that features a convenient desk that pulls out from the armrest. With this pioneering 2-in-1 couch + desk, there is no need to set up a whole separate office in your home! A breeze to move and assemble (it all arrives in one box that is smaller than expected!), the Dynamic Working Sofa is also a must for everyone working remotely due to the COVID-19 pandemic. Using Elephant in a Box’s ingenious honeycomb technology, this highly durable sofa easily unfolds to fit any sized room. The honeycomb technology is traditionally…

Amplify Your Work-from-Home Life with Elephant in a Box’s Dynamic Working Sofa

Designing and Creating Pillows

Lauren Meichtry was a stay-at-home mom for five years, but always had a passion for design. She thought that she had to choose between the two — being a mom or pursuing her passion, but she soon realized that she could do both. Lauren was gifted a vintage sewing machine from her Grandma Elsie and had begun creating pillows for her own home. Eventually, a good friend and old co-worker of Lauren’s, who had witnessed her passion and potential, asked her if what she was doing was enough for her. When Lauren took the time to really think about the question and be honest with herself, she had found that the answer was no. Lauren wanted more and she knew that she was the only person that could make that…

Designing and Creating Pillows

Reevaluating the Future of Work

Businesses and organizations of all sizes are in different phases of reopening offices and are constantly evaluating — and then reevaluating — what is safe, what is not and what the future will look like. While plexiglass dividers, floor decals and one-way walkways might not be permanent, one thing that is certain — the hybrid remote work environment is here to stay. Whether working from home, safely from an office or a mix of both, teams are quickly realizing they must work in different ways and with different tools to communicate and collaborate effectively. As organizations face the next normal, technology has made working from home a seamless reality and advances in Augmented Reality (AR) are paving the way for richer work and collaboration experiences. Remote Reality: AR Smart Glass Applications for…

Reevaluating the Future of Work

Launching a New Venture

In 2020, the COVID-19 pandemic sparked upward trends both in remote workarrangements and the number of startups registering in the United States. As individuals increasingly turn to entrepreneurship as a source of income in uncertain economic times, 2021 could be a record year for business formations in the United States. Historically, the beginning of the year has always been a great time to start a new LLC. Whether you’re a new or seasoned entrepreneur, this article will discuss the benefits — and logistics — of starting a new venture at the beginning of the year. We’ll also connect you with resources to start your business from your own home. Beating the Bureaucracy at the End of the Year Most entrepreneurs know there’s paperwork involved to form their LLC. Starting a business is exciting,…

Launching a New Venture

Winning New Clients

Marketing a business is a critical component of raising brand awareness, providing information on products and services, and winning new business. However, between strategizing and executing tasks like sending emails, a successful approach to marketing can take up time and resources. Instead, streamlining and automating the marketing lifecycle can give back some of that time to focus on other important tasks crucial to the success of the overall business, such as ensuring better service. Digital marketing automation can help drive business growth through prospects, sales, customer satisfaction, and advocacy. The Role of an Automated Process Marketing automation helps companies with their marketing initiatives and efforts by streamlining everyday, tedious processes. For example, companies no longer need to carve out time in their days to send follow-up emails to clients and prospective customers.…

Winning New Clients

DEAR HOME BUSINESS

Reducing Stress and Staying Mindful While Traveling The holiday season is typically the busiest time of the year for traveling. People enjoy going to see family members or exploring new locations as they have time off from their jobs and schoolwork. This year, traveling may come with a bit more stress and anxiety due to the pandemic that people are facing around the world. The good news is that there are some things you can do to help reduce the holiday stress, as well stay safer while traveling. There may be fewer people traveling this holiday season, but there will still be a lot who do, and they need to know how to make it more enjoyable. Mindful travel is the key to reducing stress, staying safer, and making the most of…

DEAR HOME BUSINESS

5 Tools to Organize Your Business Finances in 2021

Here are 5 tools that will make managing money in your business a breeze: 1. Expensify A leading expense management tool that lets you scan and upload receipts to easily create expense reports. Integrates with Quickbooks and Xero. Expensify.com 2. iScanner This AI enabled mobile app from BP Scanner turns your smartphone into a scanner. Turn documents and receipts into images and more. Available for Android and iOS. 3. Freshbooks Accounting software for non-accountants that makes it easy to generate professional invoices. Freshbooks.com 4. Gusto Online people platform that helps small businesses onboard, pay, insure, and take care of themselves and their teams. Payroll, benefits, and more. Gusto.com 5. Nav Check and monitor your business and personal credit for free, and get matched to financing based on your business data.Nav.com…

5 Tools to Organize Your Business Finances in 2021

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