Book Review: The Ultimate Sales Machine
On my way to a much needed vacation I thought I would do a little reading on the plane. As a Sales Executive at Harvard Business Services I have had the book The Ultimate Sales Machine by Chet Holmes sitting on my desk for months but I have not found the time to read it. I chose this book because it focuses on turbocharging your business. Chet Holmes is an acclaimed corporate trainer, strategic mastermind and business growth expert who has worked with over 60 of the Fortune 500 companies.
I don’t know about you, but a typical day at the office for me revolves around a lot of different things that seem to need my attention all at once. From answering phone calls, to sending emails, to completing my daily tasks. I constantly find myself going back and forth to each of these and often find it challenging to complete a task before I am interrupted by something else. With multitasking being such a prominent part of my daily experience I found the section on time management to be very helpful and interesting.
Chet’s six tips on time management are:
- Touch It Once: Do not revisit tasks, if you touch it take action and complete that task.
- Make Lists: Lists help you stay focused and prioritize.
- Plan How Much Time You Will Allocate to Each Task: This helps you manage your daily tasks and dedicate enough time to accomplish them.
- Plan The Day: Give yourself a time frame to work on and complete each of the things on your list.
- Prioritize: Start with your most important and difficult task. By completing it first you will feel a tremendous sense of control and accomplishment having checked the biggest thing off your list.
- Ask Yourself, “Will it Hurt me to throw this away?”: Clutter hurts your productivity. Studies show that 80% of all filed or stored information is never referred to again. So throw it away!!
I hope you apply these six steps to assist you in completing your tasks efficiently. I know they are going to help me manage my time and be more productive on a daily basis.
Comments (2)There’s Still Time to Become a S-Corp in 2010
Filed Under: S-Corporation
Tags: S-Corporation, Taxes
If you’ve been following this blog or have ever incorporated a business then you probably already know about the S-Corporation or S-Corp, and the tremendous pass-through tax benefits associated with it. If not, check out Background on S-Corporations for a quick crash course. Though the concept is easy grasp, many fail to understand how a business entity becomes an S-Corp.
The term S-Corp is really just a nickname for a corporation or an LLC that has qualified and has elected Subchapter S tax status from the IRS. But in order to get the status YOU HAVE TO APPLY FOR IT! Too often we see individuals form their businesses with the intentions of becoming S-Corps but never submit the application to the IRS. Then come tax time, they scramble to complete the process only to find out it is too late……….for last tax year, at least.
Making the Subchapter S election for a corporation or other qualifying entity is done by filing form 2553 no more than two months and 15 days after the beginning of the year the election is to take effect. Basically, this makes for two situations.
Situation 1: If a qualifying entity had a tax year prior to 2010, it has until March 15th to make the election for the 2010 tax year.
Situation 2: If the entity is new and had no tax year prior to 2010, then it has approximately 75 calendar days (more or less depending on the months) to make the election. For example, if the entity began its tax year on January 10, then the two month period ends on March 9 and 15 days after that is March 24. It could file form 2553 no later than March 24 to be eligible for the election in 2010.
Whether you have formed a new company in 2010 or you had formed a company prior to the New Year, it is not too late to become an S-Corp. To find out how the professionals at Harvard Business Services, Inc. can help make your entity an S-Corp, call 800-345-2677.
Comments (1)A Small Business Forecast: Let’s Try Optimism!
As I draft this blog after the epic 2010 blizzards, it becomes easy to see how challenges can make us all feel a bit “snowed in.” Thirty inches of snow will hinder even the best of plans and intentions. Much like a recession can hinder the success of many small businesses. Will 2010 be better for business than 2009?
There is much information on the web regarding the trends and concerns of small business and all seem to agree that the major issue is the economy. The top five concerns facing small business are all regarding costs. The cost of Health Care and Social Security, the cost of increased federal and state taxation and energy costs are all at the forefront. These major issues along with the other expenses of operations are still a major snowstorm for business to navigate through. Optimism will be a key to small business success.
A recent survey of businesses with 5 – 499 employees showed that business optimism is currently at a twelve month high. Most would agree that this level is at its highest point since 2007. The survey which is ongoing was conducted by the American City Business Journals. It shows 75 percent of business decision makers thought at the end of 2009 that their prospects would be better for the next twelve months. Perhaps the most positive sign was that the number who felt the overall economy is turning around jumped from 28 percent last August to 40 percent currently. However, it must be stated that the level of optimism was still overshadowed by some rather dark clouds.
The survey also showed an increase in overall concerns about business safety and survival. This is a natural reaction to a severe business climate. This is also reinforced by the high percentage of business owners who still have concerns about the overall US economy. However, another sign of optimism was clear shift of concern toward employees; 47 percent of current business owners were more concerned about finding and keeping employees compared to just 27 percent less than six months ago. That movement is typically seen as a positive trend for the whole economy since it indicates a more robust job market. A higher rate of unemployment can produce this effect as well. Seems there are almost as many negatives as there are positives.
Winston Churchill once said “I am an optimist. It does not seem too much use to be anything else.” There must be an emphasis on this type of positive thinking if small business is to survive. Just as I will have to dig out today one shovel at a time….so too will small business have to grasp a positive outlook and dig deeper to find solutions to the trials ahead. This is not a time for pessimism but a time for action. Small business should channel its focus on how to take advantage of an improving economy. Revisit your business plans, are they working or not? Measure and evaluate your customer satisfaction. Reexamine costs, personnel and equipment as well as infrastructure. Work smarter and harder and from positive energy will come success.
Will 2010 be better than 2009? Let’s stay OPTIMISTIC!
Reminder: Pay Your Franchise Tax
Filed Under: Franchise Tax, HBS Announcements
Tags: Franchise Tax
The State of Delaware Franchise Tax season is fast approaching. Harvard Business Services, Inc. makes it easy for you to pay your 2009 Franchise Tax. By using our service to pay your Franchise Tax, your filing is guaranteed to be paid on time so you will not be charged a late penalty.
There is still time to pay and file the franchise tax report online to avoid a $100 penalty and 1.5% monthly interest on your corporation or any other Delaware corporation you may have. Failure to pay or file an annual report for two years in a row will result in the revocation of your company’s charter by the State of Delaware.
We guarantee on-time filing service if payment arrangements and the annual report are received by 9:00 p.m. EST on Friday, February 26 or we pay the penalty!
File online today at www.delawareinc.com/payft and avoid paying a late penalty. Harvard Business Services, Inc. makes it easy for you to file this right now by using our quick link internet service. Click on the link and follow the simple instructions using your Delaware State File Number.
As your Delaware Registered Agent, we appreciate your business and will continue to provide you and your company with the personal and professional service you have come to expect.
If you have any questions regarding your Delaware Franchise Tax, you may call our office at 1-800-345-2677 (1-302-645-1280 outside of the U.S.), and press Option #3 or dial Extension 6901, to speak with a Franchise Tax Specialist.
Comments (1)
Five Green Business Trends for 2010
Filed Under: Trend Report
Tags: Small Business, Trend Report
Here’s a great article from smallbusinesstrends.com with Five Green Business Trends for 2010, check it out. Below is an excerpt:
Small businesses are no longer cutting edge by calling themselves “green.” Big corporations like Wal-Mart and Nike down to the corner café are cultivating a greener image as consumer demand for environmentally responsible products and operations quickly goes mainstream.
What this means: Businesses genuinely trying to limit their environmental toll must now work harder to authenticate their green practices and convince consumers they’re for real – not just throwing around green lingo.
The next phase of green business evolution will focus on businesses being more earnest an all-encompassing about their environmental sustainability practices and marketing. Here, then, are some green trends to pay attention to in 2010.
1. Transparency. Consumers want to know where products are sourced, what they’re made of and why they’re better than the status quo. Businesses are responding by giving them more information than ever before. Some restaurants, for instance, include the name and location of the local farm it buys chickens from and the conditions they were raised under. A “green” dry cleaner might describe its cleaning process on its Web site, so customers understand why the process is less environmentally harmful than traditional dry cleaning.
2. Measuring footprints. To be transparent, businesses must themselves know how much carbon they generate, how much water they use and other factors contributing to their environmental toll. What’s more businesses are paying more attention to environmental friendliness of their supply chain. Many big companies have take steps to measure their carbon footprints. But small businesses increasingly are, too. Some online tools are making it easier for businesses to calculate their footprints.
3. Engaging customers. Savvy green businesses aren’t just trumpeting their own environmental good deeds. They’re engaging customers in the conversation. Some are starting their own green initiatives, such as handing out reusable bags or encouraging customers to recycle products they buy. One green cleaning service I know hands out customer tip sheets on how to clean green, using household basics like baking soda, vinegar and lemons.
Read the full post HERE.




