Introduction
Welcome to issue #2
Thank you for taking the time to subscribe. The goal and focus this week is based on covering updates on PPP loans, E-Commerce tips & best practices for a successful business, and much more.
No matter what phase of entrepreneurship you're in we'll continue to provide content that helps you succeed and get to your goals. We source the articles to save you time and help with questions that you may have about the content.
It Takes A Village... You can send submit questions and comments by following and reaching out on social media. LinkedIn or Facebook
Questions Business Owner Are Asking
Chris Lema of Nexcess: 5 Things You Need To Know To Create A Highly Successful E-Commerce Business | by Jerome Knyszewski | Authority Magazine | Dec, 2020 | Medium
Chris Lema is one of those people who you can put in the category of he's forgotten more than some have accomplished in their businesses. One of the people that I always make a point of gathering insights and helpful tips from when provided.
I'm sharing this interview with Chris on eCommerce and how to become highly successful with it for your business. Looking beyond the best practices and 5 things you need to know. Give some thought to the deeper conversation into how best to structure your business for success and longevity.
The best practices are things that I implement and back into strategies shared with my E-Commerce clients. Helping them set up and establish a strong foundation and partnerships that will get them the win, win that they want and their customers need. You're not just looking to win sales but establish long-lasting relationships with your customers that help you find more people just like them to keep your business growing.
How to make a decision based on data
Setting your business up to work through the data and analytics can help you with planning your marketing strategies as well as product releases. Analytics and reporting may not be the sexiest part of doing business but it can lead to the most lucrative parts of your longevity.
If you don't have a way to track your reporting and analytics it's a good time to look into it and find someone that can help you with it. Majority Media does provide this service along with many other agencies. If you feel more advanced and want to take a more hands-on approach there are tools that you can invest in that will help you stay on top of your analytics. Chances are if you're already aware and willing to dig into the analytics then you already have something in place. You may just need a bit of help in organizing it and processing it in a way that it can be digested and applied.
How to Get Business Credit Cards for New Business & How to Build Business Credit for New Business - YouTube
When looking to take things from side hustle to a legitimate business. One of the things you'll want to do is establishing your business credit.
Here's a short video on how to get business credit cards for your business. Let's get you from entrepreneur spending out of your own pocket to spending out of your business credit and profits.
Helpful Tips
Be A Productive Solopreneur While Working From Home | My WFH Productivity System Ft. TickTick - YouTube
Working from home and being productive can be a task in and of itself. Finding ways to keep yourself honest so that you can complete the work with fewer interruptions. In some cases, you're getting paid by the minute and hour and need to be able to account for your time.
Here is a review of a tool that can help you stay organized and stay creative. This review is directed at Solopreneurs working from home. Tick Tick is a resource that has a free option as well as a premium that is priced pretty low with a monthly plan. There's no affiliate link or benefit to me for the purchase. This is just sharing an option for helping the entrepreneurs out there trying to make the most of their current situation.
WordPress
What's new in PHP 8 - stitcher.io
Staying up to date on new releases and how they can affect your website and business is a never-ending task with WordPress. You get the benefits of an open-source platform that gives you room to make customizations that suit your business and clients' goals. But you have to put in the work to stay ahead of potential concerns and changes.
Often overlooked is what goes into Website Support and maintenance. This is why care plans and maintenance packages are so important. Finding a partner who will do the research and stay on top of the updates and changes for business owners. Let's take a look at what's new in PHP 8.
Getting Your WordPress Plugins and Themes Ready for PHP 8 – WordPress Tavern
How to prepare your WordPress site for the new PHP 8 rollout. There are some changes that could affect backward compatibility so be mindful when making the update and make sure that it won't affect you or any of your clients' sites.
WordPress will be releasing an update 5.6 which will be compatible with PHP 8.0 on December 8th. This means that you will see a wave of updates coming for a lot of the plugins and themes on WordPress websites. If you have automatic updates set up make sure that you have a plan in place to address this update.
There will be tools available to help look for incompatibilities. In an effort to help you troubleshoot. Let that be the last resort and not something that you have to rely on for your clients and potential customers. The time it takes for the developers to come up with fixes could cost you customers and time scrambling trying to restore your website after it crashes.
MBE/MWBE
Jonnel Doris - Recent Speakers - The Economic Club of New York
The importance of diversity and opportunities for small businesses can not be overstated. Small businesses are betting on themselves and taking a chance that they can gain some footing in their industry. Looking for ways to compete and provide a service that opportunity for others to follow in their footsteps.
It's important to know who's championing those efforts and trying to help you with the struggles of diversity and competing. It is important to know when the conversations are being had and how you can participate.
Stay up to date with all the opportunities to better your business and ability to compete in your market.
CO Panel: More City, State Contract Work Needed With Firms Owned By Minorities, Women – Commercial Observer
The fight to get more opportunities and fairer requirements for MBE/MWBEs continues. This article covers the issues in construction but it is known that the struggle is real across many industries.
As someone that attends the webinars and works to find out about opportunities. This is why I put a focus on sharing articles and information. There are people that don't know the opportunities that are out there and are missing out due to lack of access. While there are others who run into a wall trying to meet the requirements.
In some cases, the workaround is to partner and go in as a subcontractor to get the experience needed. The importance of not just finding out about bids and proposals but who may be applying can make a big difference. Individually you may not qualify but if you partner with another business you can fulfill a requirement that they may not meet and vice versa. Collaborations should be something promoted more and taught for gaining ground and making the most of your certifications.
News
Small Businesses That Took PPP Aid May Face a Tax Problem | The Network Journal
If you were one of the businesses that received the PPP loan you're going to want to make sure that you're keeping up to date with the latest information and rulings. The taxes that you may be responsible for and limits to write-offs could be a backbreaker for your business.
For those with an accountant and financial advisors, it's going to be a good idea to check in and check for the implications of these latest updates. Stay in the know so that you can prepare yourself. I count myself among those that will be looking to my tax return to stem the tide. If you're sharing that mindset and aren't planning for what you can and can't write off you could be in for a rude awakening.
Check out the latest and start to put together your plan for your business. We will continue to keep you up to date with where things stand as news is released.