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    The Restaurant Toolbox

    The Restaurant Toolbox
    As a restaurant manager, you're expected to meet the daily challenges of running a restaurant head on and fight daily fires quickly and efficiently. The speed at which business occurs in a restaurant, along with the tight profit margins, means every move counts. Myriad technology solutions exist to reduce costs and streamline an operation. From back-of-the-house software that will manage purchasing, ...
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    The Value of Design to Startups

    The Value of Design to Startups
    Over the past five years I've consulted with and/or invested in about 50 startups. I've gotten to know a lot of entrepreneurs and a fair number of the venture capital and angel investors who are backing these companies, most of which are in the consumer Internet field. And guess what? Probably more than half of the startups, and more than 90% ...
    Rated: +4
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    Service-Industry: IRS Restaurant Tax Tips

    Service-Industry: IRS Restaurant Tax Tips
    Tips your employees receive from customers are generally subject to withholding. Employees are required to claim all tip income received. This includes tips you paid over to the employee for charge customers and tips the employee received directly from customers. Employee Requirements Employees must report tip income on Form 4070, Employee's Report of Tips to Employer, (PDF) or on a similar ...
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    Restaurant Insurance Basics

    Restaurant Insurance Basics
    So you're opening a restaurant, specialty food store or catering service! Congratulations! Have you insured yourself and your new venture yet? One area in the culinary industry you simply cannot afford to cut corners on is insurance. It can protect you and your business from everything from broken kitchen appliances to food poisoning lawsuits. Here are the different types of insurance ...
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    Service-Industry: Paying Taxes on Your Tips

    Service-Industry: Paying Taxes on Your Tips
    Pssst. Want to hear about an occupation in which thousands of people earn up to $50,000 or more annually but pay very low taxes? Here's the deal: You too can become a restaurant waiter, join in the widespread practice of underreporting your tips, and, if you work your way up to a fine-dining gig, achieve an enviably high net income. But ...
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    Accepting Customer Payments: Selecting the Safest Payment Solutions for Your Business

    Accepting Customer Payments: Selecting the Safest Payment Solutions for Your Business
    Q: What's the safest way for me to accept payment from my customers? A: Identifying which payment methods are best for you depends on the type of company you run and how you conduct business. Anti-fraud technology and encryption techniques are continually improving in the transaction-processing industry. And secure, affordable payment solutions exist to meet almost every merchant's needs. Retail Businesses ...
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    Selling Cost vs. Price: Find the Price Point That Covers Your Costs and Provides a Profit Margin

    Selling Cost vs. Price: Find the Price Point That Covers Your Costs and Provides a Profit Margin
    I recently finished a keynote presentation for an industry that's getting hit hard by competitive pricing. Customers want the best price they can get, especially in a difficult economy. So what can you do to keep your price at a number that covers your cost and maintains your profit margin, without discounting? I have two options for you: Walk away from ...
    Rated: +8
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    Getting Money to Grow Beyond the Startup Stage

    Getting Money to Grow Beyond the Startup Stage
    You may have used personal savings or money borrowed from friends and family to get started, but where do you go when it's time to grow your business? If you've been in business for less than three years or have nothing to offer as collateral, you might find traditional lending institutions unwilling to finance your business. There are options, though--if you ...
    Rated: +3
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    Obtain Startup Capital for Your Business

    Obtain Startup Capital for Your Business
    The success of a business idea largely depends on the financial planning behind it, says Joseph Parrino, a longtime women's clothing store owner who decided to branch out into the housing rehab business. “I knew from experience that without the proper backing, I wasn't going to be able to make a go of the new enterprise,” Parrino says. “What I didn't ...
    Rated: +2
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    Do You Accept Credit Cards? Are You In Compliance With The Law?

    Do You Accept Credit Cards? Are You In Compliance With The Law?
    Last week ProPay organized a webinar to help businesses who accept credit cards understand the obligations they have to their customers and through regulation to ensure their customer's credit card information is not compromised. The webinar (get more information about it here) helped the attendees understand that criminals are not just going after "big businesses" they are probing and trying to ...
    Rated: +3
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    Business Financing Basics

    Business Financing Basics
    Before seeking financial assistance, ask yourself the following: • Do you need more capital or can you manage existing cash flow more effectively? • How do you define your need? Do you need money to expand or as a cushion against risk? How urgent is your need? You can obtain the best terms when you anticipate your needs rather than looking ...
    Rated: +1
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    Better Shipping

    Better Shipping
    You're almost done. You found a product (or product line) to sell, listed it on eBay, sold it and received payment. Now it's time to pack and ship it to the buyer (this is also called fulfillment). While your focus may have initially been on selling the item and getting paid, quality packaging and accurate shipping will have just as much ...
    Rated: +5
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    10 Business Mistakes for Start-Ups to Avoid

    10 Business Mistakes for Start-Ups to Avoid
    Too many people jump into a business without thinking it through. Success involves analyzing, planning, and implementing strategies for the venture. In this article, you'll find ten mistakes often made by start-ups and tips to prevent the pitfalls. 1.Not enough research on the business. The idea is not feasible or the owner lacks important information. For businesses with a physical location: ...
    Rated: +9
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    Trends: Car Dealers Embrace the Web

    Trends: Car Dealers Embrace the Web
    Before browsing at a new car showroom, most Americans browse online. Almost 90 percent of consumers turn to the Internet as a research tool -- in addition to traditional sources such as newspapers and magazines -- although only about 30 percent complete a sales transaction online, auto industry analysts say. "People think they can click a button and a vehicle magically ...
    Rated: +2
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    Strategic and Tactical Planning: Understanding the Difference

    Strategic and Tactical Planning: Understanding the Difference
    Many small business owners and operators do not spend much time planning for their business success. The biggest reason, in my opinion, is that they are not aware how easy it can be. Most owners, when they hear the words Strategic Planning or Tactical Planning, get a glazed-eyed look on their faces. Actually, these can be rather simple tasks to manage ...
    Rated: +3
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    Intuit Buying Personal Finance Web Site Mint.Com for $170M

    Intuit Buying Personal Finance Web Site Mint.Com for $170M
    Sep. 14 - For nearly two years, one of the biggest names in consumer financial software has listened to a steady drumbeat of rave reviews for a new personal finance tracking service offered by online startup Mint.com. Mountain View-based Intuit responded Monday by announcing it will spend $170 million to buy the upstart company and add its fast-growing service to ...
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    7 Ways to Avoid Small Business Failure

    Do Your Market Research Just because you build it or sell it doesn't necessarily mean anyone will buy it. The first essential step is to research your potential market. Who needs what you are offering? Is there space for your product or service in the market or is the market saturated? Is the market national? Is it a niche? Can you ...
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    Business Incorporation

    When beginning a business, you must decide what form of business entity to establish. Your form of business determines the amount of regulatory paperwork you have to file, your personal liability regarding investments into your business, and the taxes you have to pay. The most common business structures include: *Sole Proprietorship* - A business owned and managed by one individual who ...
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    Business Management Basics: Seven Factors for Success

    Business Management Basics: Seven Factors for Success
    All business owners want to be successful. This article outlines seven aspects of a company that require effective management. You can always find ways to create a "well-oiled machine." Improvements typically translate into returns on your investment. 1. Marketing - Product, price, and positioning. Timing is everything. Snickers, Tootsie Pops, Mars bars, and Three Musketeers were all created during the Great ...
    Rated: +4
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    A New (Old) Way To Get and Do Business

    A New (Old) Way To Get and Do Business
    2009 will probably be your toughest year in business. This sounds like a negative way to start but it is very positive. Stay with me on this one and you’ll find ways you can take your business, and your personal life, to some new levels you’ve wanted for a long time. We are in a different world today than even a ...