Your Business got you down?

At some point in the life of every company, the pace slows, activities become mundane, and owners may start to feel like they’re just going through the motions. The trick is to recognize your lapse in motivation — and take steps to overcome it. Here are some tried-and-true techniques to help you and your small business through its midlife crisis. Take a break. What if you just walked away for a day or two? This may seem like a frightening prospect, but it’s also a useful reality check. If you’re concerned that the enterprise will crumble to pieces without you at the helm, this may be a good time to see what actually happens in your absence. This means you’ll need to delegate more duties. Allowing trusted team members to assume control not only gives them the opportunity to prove their value to the business, but also frees you up to think strategically about where you’re headed. There’s even a chance you might relax a little. Go back to square one. Once you’re caught up in day-to-day operations, it’s easy to lose sight of why you got into the business in the first place. Do you remember what your original drive was? Did you see a need for a product or service that no one else saw? Did you set out to achieve a specific goal? Whatever the reason, reflect upon whether your initial passion still holds. If not, you can certainly reinvigorate your business by changing your vision and focus. Think about where you want your company to be one year and five years from now. Maybe it’s time to reframe your vision, based on changing market conditions in your industry and in the economy in general. Consider creating a new product or branching out into a new area. A new goal can bring excitement and focus to your life. Talk with customers. One way to generate ideas for new products or markets is to touch base with your customers. Conduct mail or online surveys to ask customers questions that will spur your thinking: How can I improve the service I’m providing you? Is there something else you want or need from my business? You might not like hearing everything your customers have to say, but their responses are likely to surprise and enlighten you. Also take charge with what is said about your business online, it too can give you a kick start. Talk with peers. Soliciting unbiased, third-party advice or meeting new people can renew your enthusiasm. Look for upcoming trade shows, industry conferences, and chamber of commerce events. Seek out fellow entrepreneurs and ask how they’re handling their midlife crises. People are often more willing to share their opinions than you might think. It also feels good to offer some insights of your own. Change your daily routine. Perhaps it’s time to establish some new patterns. Change what you wear. Find a different way to go to work. Do something spontaneous in the middle of the day. Most importantly, if you’re not exercising or eating right, adopt healthy lifestyle habits: There’s no quicker or more positive way to get out of a rut!

Eggg Trivia

More Than You Ever Wanted to Know... Egg Shell The color of an eggshell depends upon the breed of hen. Hens with white ear lobes lay white eggs. Hens with red ear lobes lay brown eggs. Rhode Island Reds, New Hampshire’s and Plymouth Rock chickens lay brown eggs. White Leghorns and Brown Leghorns lay white eggs. Egg White The color of the egg white depends upon the presence of carbon dioxide. A fresh egg has a great deal of carbon dioxide, since it has not had time to escape, and the white looks very cloudy. Egg Yolk The color of the egg yolk depends on the hen's diet. If she eats yellow corn or alfalfa meal, the yolk is medium yellow. If she eats barley or wheat, the yolk is a lighter yellow. If she eats white corn meal, the yolk is almost colorless. Egg Games Egg games have their origin in many cultures. Egg hunts have long been a tradition around Easter time. An egg toss is a picnic game. Egg rolling dates back to the 1600's. Eggs are blown, pushed with the nose, or rolled down a hill. Egg tapping is done by tapping one egg against another; the egg that survives the longest wins.

5 Tips for Improving Your Accounting Practices

How well you monitor and manage your finances can determine whether your enterprise ultimately succeeds or sinks. That’s why now, more than ever, small-business owners are exploring how time-honored techniques and the latest technologies can help make accounting substantially less cumbersome. Here are 5 tips for streamlining and simplifying your accounting practices: 1. Understand the basics. New entrepreneurs routinely underestimate how critically important sound accounting practices are to the viability of a business. Those who fail to make accounting a priority run the risk of serious errors. From missing payments to incorrectly withholding taxes, no shortage of potential threats to one’s general bookkeeping — and to the business itself — may arise from slapdash accounting habits. 2. Stay organized. Accurate record keeping is the proverbial glue that holds your business together. Records that are improperly updated could lead to disaster. On the other hand, accurately maintaining your books through exceptional organization will help you avoid problems — or at least expose them before they become too onerous and costly to resolve. 3. Select software wisely. Your selection of accounting software is, without question, one of the most important decisions you will make for your business. Fortunately, going high tech doesn’t have to be hard. “To buy a program like QuickBooks is the best thing you can do to get started with accounting in your business,” “The capabilities of today’s leading accounting software should help you avoid most — if not all — major and most common accounting problems.” 4. Trust technology. It isn’t enough to simply purchase accounting software; you have to make the most of it. Reducing the likelihood for human error in your bookkeeping is one of the best ways to ensure that your records stay accurate. By learning how to use the full scope of features in your accounting software, you can automate tasks, reduce paper waste, double-check your work, and make general accounting chores significantly less frustrating. 5. Be consistent. Consistency is essential to successful small-business accounting. In fact, nowhere are the dangers of a slippery slope more evident than they are here. As soon as you grow lax in documenting sales, expenses, and other simple but critical data, the entire accounting process can quickly deteriorate into a massive — and potentially very expensive — headache. Fortunately, being consistent doesn’t require much more than establishing sound practices and a strict adherence to them over the long haul. For more help on chossing the right software or simply how to on small business accounting, check out www.nesteggg.com or contact a crew member today 760-322-4622

8 Reasons Why Small Businesses Fail

Nobody starts a business expecting to fail, but sobering statistics indicate that many do, in fact, go under. According to the Small Business Administration’s Office of Advocacy [PDF], three out of 10 new firms with employees fail to survive for more than two years, and about five out of 10 close up shop within five years. The survival rate is even lower for sole proprietors. There are many external causes for small-business failure, including market size and customer demand, but other equally important factors can hobble a business in its earliest stages — and prove fatal in the long run. Here are eight reasons of why some small businesses fail: Flaws in entrepreneurial thinking - There’s no template for what makes a successful entrepreneur tick, but certain character flaws crop up again and again when a business fails. It’s vitally important to know why you want to start a business. If you think that you’ll make money quickly and easily or that, just because you work for yourself now (and not someone else), you’ll have more time to spend with your family, it’s time for a reality check. Without a passion for what you do, without the mental and physical stamina to put in long hours, and without the attitude that you can take setbacks and keep moving forward, you might as well cut your losses now. Poor planning – In most cases, a business can’t succeed without a business plan. This is where you work out the crucial elements that every business must have — finances, marketing, management, and both short- and long-term strategy. What is your vision for the business? How many people will you need working for you? What will the budget look like? Can you foresee likely problems and how to address them? Getting everything down on paper before you try to get the business started greatly increases the odds for success. Lack of funding - Too many budding enterprises fail to secure enough operating funds to get off the ground or make it through the crucial first few months. It’s easy to underestimate the capital required for everything from equipment and inventory to staffing and utilities. As part of the planning process, thoroughly calculate potential startup and operating costs. The wrong location- Any bricks-and-mortar enterprise must operate out of a viable location. This means selecting a site that’s customer-friendly (convenient to get to, ample parking, clean and comfortable, etc.). If you’re looking at a spot that’s currently vacant, find out who was there before and why they relocated or went out of business. Ineffective marketing- If customers don’t know who you are or even that your business exists, what hope is there to succeed? Successful business owners know — or enlist the services of professionals who know — who their target audience is and which marketing channels will most effectively reach them. They also understand the value of advertising through online marketing, social media and other digital resources. Hiring the wrong people- Your business will never prosper if you employ the wrong people — that is, employees who lack the willingness to work hard and who exhibit poor customer-service skills. Hiring good people is yet another time-consuming element of keeping a business afloat, but in the long run it takes less time, effort, and money than hiring the first people who walk through your door. Miscalculating the competition- An entrepreneur foolish enough to underestimate or even ignore his competitors is setting himself up for failure. Regardless of your product or service, every business has competition. Look into obtaining a competitive analysis of your niche market. Stay updated on changes in competitive behavior or strategy. With a comprehensive understanding of who you’re up against, you’re better positioned to come up with a good idea before they do. Believing you can do everything yourself- You’re strongly motivated. You’re full of energy. You think you can take on all aspects of growing a business and by sheer force of will make it work. The sad truth is, you’re wrong. Seek out the advice of mentors or others with experience and know-how. Invite suggestions and ideas from family and friends. Understand that as resourceful as you are, there will always be parts of the business you shouldn’t handle yourself.