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FINANCIAL ADVICE

Preparing For Rising Business Costs in 2014

By The BIDaWIZ Team on September 13th, 2013 at 1:53 pm

The upcoming year will yet again be a rising cost environment for most businesses. The economy is expected to grow at a 2.0% rate, which should offset some of the rising costs. What costs can you expect to rise the most in 2014? .
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MARKETING

Will Email Marketing Increase Company Sales?

By The BIDaWIZ Team on September 13th, 2013 at 9:50 am

Email marketing provides businesses with a cost-effective way to stay connected to their customers. In addition, companies can easily launch a program to meet many different objectives. Learn the best ways to increase sales with email marketing. .
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MARKETING

Advice For Launching A Product In A New Market

By Ryan Himmel, CPA on September 6th, 2013 at 3:23 pm

Entering a new market can be an exciting yet challenging endeavor for any company. Specifically, many companies run into problems when they allocate too many resources to an unproven product, which in turn detracts from their existing business or what is currently working well. .
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FINANCIAL ADVICE

Should You Leave Your Job To Start A Business?

By Ryan Himmel, CPA on September 6th, 2013 at 3:04 pm

Budding entrepreneurs working on the next big idea may feel compelled to leave their job to dedicate all of their time to the venture. While we generally agree that you need to take risks when launching a new business, it's recommended to prove your model first and try to maintain a steady stream of cash flow. Here's why. .
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FINANCIAL ADVICE

Updating Your Five Year Strategic Plan

By The BIDaWIZ Team on September 5th, 2013 at 6:25 pm

The 2008 recession brought great change to many businesses. Strategic plans from prior years were changed and in some cases completely scrapped for a greater focus on reducing costs. As a result, many c-level executives are now beginning to question the importance of a five year plan. Despite this sentiment, we believe strategic planning is effective when done properly. .
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MARKETING

How Can You Expand Your Home-Based Business?

By Ryan Himmel, CPA on August 29th, 2013 at 7:25 pm

We recently contributed to Entrepreneur Magazine by providing by providing a recommendation for how to grow a home-based business. Read More.

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SMALL BUSINESS

Small Businesses Are Increasingly Targeted By Cyber Criminals

By The BIDaWIZ Team on August 23rd, 2013 at 10:47 am

The risk for cyber espionage continues to evolve as perpetrators are targeting small businesses at an alarming rate. Symantec, a bellwether in the web-security space, recently announced that attacks surged almost three-fold for small businesses or those with less than 250 employees. Small businesses now account for more than 31% of all web attacks or greater than 300 million incidents annually. Given this backdrop, should your business consider investing in greater security measures and cyber liability insurance? .
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MARKETING

How Can You Sell Your Product To Big Brands?

By The BIDaWIZ Team on August 16th, 2013 at 5:43 pm

Once you've developed a new product, you need to start thinking about distribution. It's okay to think big with hopes of distributing your product to the masses via a big box brand. However, gaining their attention and trust isn't so easy. Still, there are certain steps you can take to help you reach your goals. .
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HIRING

Are You Paying Your Employees Enough?

By Ryan Himmel, CPA on August 16th, 2013 at 5:08 pm

We recently contributed an article to Entrepreneur Magazine in which we examine the factors that employers should consider when assessing employee compensation. Read More.

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TAX REPORTING

S Corporation Owners At Risk For Unreasonable Compensation

By The BIDaWIZ Team on August 16th, 2013 at 4:43 pm

The Tax Court recently ruled on a case that once again was in favor of the IRS's conclusion that the S corporation owner paid himself an unreasonably low salary. While this ruling supports other cases, the Tax Court provided more color to this seemingly ambiguous area of tax law. S corporation owners need to know how this ruling may affect their compensation practices. .
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