“Even though I’d say the service is well worth paying for, it’s free.” David H. Freedman, small biz tech writer for the New York Times.What else are people saying?

Year-End Checklist

Guest posted this in Small business accounting on Monday, January 23rd, 2012.

This post by guest blogger Dianne Mueller provides advice for small business owners in Canadian jurisdictions.

Dianne Mueller, CPBIt’s that time of year again when self-employed small business owners (sole proprietors) do their year-end.

A Sole Proprietor is a type of business entity that is owned by one individual, where there is no legal distinction between the owner and the business. In this type of business the owner receives all of the profits and is responsible for all of the debts. The year-end profits of the business are combined with all other income that an individual might have and taxes are paid at the current personal tax rate.

Sole proprietors often feel overwhelmed, confused and nervous about preparing for their yearly tax filing — especially those new entrepreneurs who do not have a business or accounting background.

Your business year ends on December 31st and steps need to be taken to ensure you are not overpaying or underpaying the taxman. It starts with making sure your bookkeeping is done and up to date. Here is a checklist of tasks that should be completed every year.

End of Year Bookkeeping Checklist:

  • Reconcile your bank account
    This will make sure that an expense or deposit (sale) is not missing. Don’t forget about those monthly bank fees.
  • Catch up on invoices
    Do you have services or products you have delivered but not yet sent invoices for?
  • Record transactions
    Have you imported or posted all transactions from your bank accounts, PayPal accounts, and credit card accounts into your accounting system? Search your pockets for any missing receipts.
  • Personal expenses
    Are you missing any income or expense transactions related to your business that were deposited into or paid from your personal bank account?
  • Categorize transactions
    Make sure all of your income and expenses have been properly categorized to the correct account.
  • Don’t forget mileage
    Have you recorded all the time spent in the car? Your daily commute doesn’t count.
  • Don’t forget home office expense allowances
    If you are operating your business from your home you may be entitled to expense a portion of your mortgage interest and utilities. Check with your accounting professional.
  • Pay your estimated taxes
    To avoid penalties when taxes are due on April 30 (April 17 in the US), be sure you’ve paid enough in estimated taxes for the year. If you need to make an additional installment do it now.
  • Check your income statement
    Compare it to prior years. Look for posting errors in any amounts that have increased or decreased significantly.
  • Don’t forget to reverse stale-dated checks!
    Do this 6 months from date of issue.
  • Record any year-end accrual entries and depreciation if applicable
  • Check accounts receivable and accounts payable for accuracy
  • Write off bad debts, if any
    (Hopefully there aren’t!)
  • Prepare a budget for this year
    To start creating a new budget take your profit and loss statement in your accounting software from last year and export it to a spreadsheet. Then you can easily add formulas to increase revenue next year by a percentage or reduce some of your expenses.

Armed with this checklist and the help of your accounting professional your year-end will go much smoother. Your business books will be error free and your tax return will be accurate.

– Dianne Mueller CPB  – Certified Professional Bookkeeper
Soma Small Business Solutions

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Need more help?
If you want more assistance, or if you prefer to let someone else do the work, we can put you in touch with accountants and bookkeepers from the Wave Pro Network. Find a Wave Pro.


For more information about small business tax preparation and fiscal year end, see our Year-End Survival Guide.

Are you still using a shoebox for your accounting? Or a clunky, expensive accounting application? Make your next tax year as pain-free as possible: Sign up for free online accounting
for small businesses from Wave.

PPC for small businesses

Guest posted this in Small business news on Monday, January 16th, 2012.

Why PPCToday we welcome guest blogger and PPC guru Andrew Goodman. This post is a companion piece to Andrew’s article, 5 ways PPC is better than SEO.

The conversation around PPC (pay-per-click advertising, especially search advertising like Google AdWords or Microsoft adCenter) vs. SEO (search engine optimization) is pretty controversial, at least when it comes to separating fact from fiction. I’ve been directly involved in a lot of the industry debates and gotten into arguments, given the vast quantities of snake oil that are sold in these industries. Given this, I think it’s important that small business owners be informed of why exactly they should be devoting their time and business dollars to PPC.

One of the most enduring myths in online marketing is that SEO is a “core” element of traffic generation, while paid search (also known as PPC) is an “optional add-on.” Some in the SEO community go so far as to suggest that PPC is only for “wimps” who have “failed” at SEO.

The reality is, on many commercially-oriented search terms, a high proportion of screen real estate above the fold gets taken up by paid units of one form or another; usually, highly visible plain-text ads that look a little bit like the regular search results. If you’re waiting to get all your SEO ducks in a row before you make a serious bid to increase your search referral volume, you may be waiting a long time.

Broadly speaking, with PPC you can take a more direct route to achieving serious business objectives. Especially when you have a diverse keyword universe — for example if you’re a retailer with many SKUs — it can be almost impossible to achieve top rankings for all SEO terms. Paid search allows for wider coverage.

But even in narrower niches, it’s vital to consider PPC. That’s because you’re selling something, and your offer is worth putting in front of people directly. Many of the pages that rank well in organic search may be informational in nature — the epitome of the “great content” that search engines help users to discover. If your strength is in sales and service for a complex filtration system or organic fertilizer, your website’s product pages may never outrank that government website, Wikipedia entry, or scholarly journal on the subject. You could reinvent yourself as a content company or hire that university professor to consult for you and blog for you… just to make Google Search happy. Or you could grab the bull by the horns and bid on keywords of value to your business. Which is “costlier”? It depends on your perspective.

— Andrew Goodman is the founder and president of Page Zero Media, a full-service digital marketing agency founded in 2000, focusing on SEM and display ads. Clients include DirectEnergy, Nuts.com, and Postmedia Digital. Andrew is author of Winning Results with Google AdWords (2nd ed., 2008), writes a regular column for ClickZ, and maintains a streak of speaking at every SES conference in North America since 2002 (39 and counting).
Why PPC

5 ways PPC is better than SEO

Guest posted this in Small Business 500 on Monday, January 16th, 2012.

5 ways PPC is better than SEOPPC guru Andrew Goodman guest blogs on the PPC vs SEO debate. We recommend his post PPC for Small Businesses as essential reading to understand the PPC vs SEO debate.

PPC, or Pay Per Click, refers to Internet advertising where plain-text ads are generally displayed at the top or sides of a search page. The most common example, of course, are the ads on a Google results page. Though often overlooked in favor of SEO (search engine optimization), PPC is a great model to consider for getting noticed and selling product online. PPC isn’t a poor cousin to SEO: It often beats SEO hands down as a marketing channel. Here’s why:

1. With PPC, you have a lot more control

With SEO, Google is the boss, and you have a limited ability to guide the user’s experience. But when it comes to PPC, you call the shots. PPC provides you with control over your ad copy (so that you can test it to maximize performance); control over the choice of landing page; control over which keywords you show up on, how visibly, etc. That should lead to better results and fewer excuses.

2. Tighter feedback loops

With SEO, you mainly work on building reputation externally and creating content elements on your website. It takes months to find out whether these experiments and work projects impact ranking and revenues. Before long, another year has passed. With PPC, you’re constantly finding out what works so you can get results and learn from them immediately.

3. Better appreciation of cause and effect

As a result of the above two factors, your tests provide meaningful and often indisputable conclusions about which keywords work at what price; what landing page format converts; which ads do a better job of filtering out the wrong searchers, etc.

4. Better service

If you’re an advertiser, Google and other publishers have an obligation to help. On the SEO side, they owe you nothing. It’s true that on the SEO side there are some tools and resources nowadays, but on the paid search side you can call the support line anytime. Larger accounts and agencies have teams of specialists at their disposal, and there are also special private education events and more.

5. Fewer algorithm changes

SEO is determined by algorithms — complex formulas that calculate which site should rank first for what searches. The problem: Algorithms change. One day you can be riding high, convinced that your tactics are aligned with Google’s view of “great content.” The next day, your traffic drops by 50 or even or 80% because Google is sweeping through the content universe trying to weed out spam and discounting commonly used SEO tactics … and you’re caught in the net. 
This type of business risk is not as acute with PPC, because search engines have much less spam to worry about in the paid search universe. Though there is a Google Quality Score algorithm on the paid search side that rewards advertisers for relevance, the changes here are typically smaller and less devastating. Google deals more respectfully with a finite universe of known advertisers with credit cards who pay for each click.

–Andrew Goodman is the founder and president of Page Zero Media, a full-service digital marketing agency founded in 2000, focusing on SEM and display ads. Clients include DirectEnergy, Nuts.com, and Postmedia Digital. Andrew is author of Winning Results with Google AdWords (2nd ed., 2008), writes a regular column for ClickZ, and maintains a streak of speaking at every SES conference in North America since 2002 (39 and counting).

5 ways PPC is better than SEO

pagezero.com

5 Alternatives to PowerPoint

Guest posted this in Small Business 500 on Friday, January 13th, 2012.

5 alternatives to powerpointThis post is by guest blogger Laura Tulley.

Love it or hate it, PowerPoint is the go-to technology to accompany the almost-daily brigade of presentations we engage with – new business pitching, internal briefings, quarterly meetings (the list goes on). Your eyelids are getting heavy, the tiny text starts to bleed into the background, couldn’t this have been put into a tidy memo that I could have ignored on my desk? Alas, this is not always an option, so knowing some appropriate alternatives, may be useful in avoiding the death-by-PowerPoint monotony.

1. Fly solo

No visual aid: A novel idea, I know. Often, PowerPoint is used as a crutch — a clever diversion to draw audience eyes away from the nervous presenter. Although it takes a brave soul, consider if PowerPoint slides are in fact enhancing any of your speaking points. If the information is simply being repeated on a slide, it may not be necessary. Go forth & conquer the boardroom, sans aid.

2. A dizzying array of options

SlideRocket, Google Docs, Prezi, Zoho Show, shall I go on? These are just a handful of the available presentation technologies that have emerged to offer a varied (and often more engaging) alternative to PowerPoint. Prezi is my personal favorite. It takes your audience through an animated road map that allows for as much, or as little content as desired. Prezi is a free, simple to use and still fairly untapped presentation resource. The element of surprise is always a refreshing treat for those waiting to hear yet another riveting Q3 update.

3. Old faithful

PowerPoint is the office standard, and sometimes it’s your only choice for a presentation aid. Deep breath … this is okay, you will make it out alive. Just remember the time-old advice: Limit your text, do not simply repeat your speaking points, and for goodness sake only create slides that enhance the content of your presentation. Most importantly, factor in the audience, nature of content, length, etc. It’s not rocket science people, it’s just a PowerPoint (but, please, try and make it interesting).

4. Real time

Never underestimate the power of a white board, chart paper, even a piece of chalk. It is completely acceptable to use your surroundings, and often refreshing. It can be interesting for audiences to see you jot down a key word, or interesting point as you go. Think about the classic movie scene where the new teacher introduces herself to the class, writing her name on the chalkboard (often underlined for dramatic flare). You can picture it clearly in your mind, right? That’s the proof of how effective this approach can be.

5. Master the presentation itself

This may seem like a displaced alternative, but above all else, a presentational aid is only as good as the presenter. Be sure to take advantage of any professional resources made available to you. Join Toastmasters, propose presentation skills training at work, or contact a vocal coach. And practice, practice, practice. These days, it is common to present via Skype or intraweb videoconference, and raw presentation skills are the only thing transmitted through a webcam.

Laura works in marketing communications at NATIONAL Public Relations, specializing in consumer goods, event planning and media relations. Working with some of Canada’s more successful and emerging brands, Laura helps to build brand equity, drive sales, and give a presentation whenever the opportunity arises.

5 alternatives to PowerPoint

lauratulley.com
@lauratulley
linkedin.com/lauratulley

5 tips for a winning presentation

Guest posted this in Small Business 500 on Wednesday, January 11th, 2012.

5 tips for a winning presentationThis post was written for Wave by guest blogger Dr. Ava Cross.

All professionals deliver presentations — to groups of 5 or 6 and to audiences of 100 or more. Presentations not only provide opportunities to sell your products and services, but also to make a personal impact on people and cement your firm’s overall image and reputation. Here are 5 tips that will help you present with confidence and ease.

1. Know your audience

Learning about your audience — their backgrounds, age group, general interests, and attitudes — will help you determine how to select, shape, and deliver your information. Some audiences will be familiar with your company, and some won’t. Some audiences will be subject matter experts and others won’t even know the basic terms. Some audiences may be resistant to your message, and others will welcome it. Knowing your audience will help you pitch your information so that they can act on your objective.

2. Determine your purpose

What is the point of your presentation? What information should your audience take away? Do you want your audience to consider using a specific service or product? Or do you only want to raise your company profile? Think about the end point of your talk, and work toward that goal.

3. Organize your information

Prepare your talk with a clear introduction, middle, and conclusion. Use your intro to state your credentials, reveal your purpose, and preview the main topics you will cover. Then deliver the substance of your talk, being sure to have a clear strategy – for example, you may need to start with simple information and then move to the more complex. In your conclusion, recap your key ideas and your main objective. And remember to use transitions that guide your audience through each part of your speech, so they can follow your talk easily.

4. Prepare visual support

Visual support will reinforce key ideas and communicate complicated information, such as company growth. Keep it simple: Be sure your visuals enhance the spoken message, not hijack it with text-heavy slides or complex charts. Remember to prepare a title slide with your name, contact information, and speech title and date. You might also want to prepare handout slides so audience members have a take-away. Finally, proofread visuals carefully — spelling errors can destroy your credibility.

5. Rehearse, rehearse, rehearse

Almost everyone is nervous before delivering a presentation. We worry about making mistakes and how our audiences will view us. The best way to overcome nerves is with thorough preparation and rehearsal. Practice your presentation several times a day before delivery. You might want an audience of colleagues or to record yourself, so you can monitor your pace, eye contact, and mannerisms. While practicing remember to control your pace by breathing and pausing, and use eye contact to roam the room, so people feel you are speaking to them individually. Maintain good posture, but avoid stiffness – your audience wants to see a professional, but also someone they can relate to.

Originally from New York, Ava Cross teaches in the School of Professional Communication at Ryerson University. She is the author of Talking Business: Strategies for Successful Presentations and the Canadian author of Excellence in Business Communication, both published by Pearson Education Canada.