What does it take to be a great boss? A decade ago, the right answer might have included delegating wisely, setting crisp meeting agendas, and providing employees with great perks such as flex time. Today, in a more uncertain economic time, the rules of great leadership have changed. So to guide the contemporary leader, Inc. has compiled 12 unconventional and surprisingly effective leadership ideas—some of which, in the past, would have been decried as micromanaging or over-relying on gut instincts. These are the new rules of leadership.
1. Have a Bias Towards Action
Before Josh James founded online analytics company Omniture, he carried around an idea book, and jotted down ideas every day. He ended up with a patent on a product: a hair-in-hairbrush remover he dubbed Brush's Groom. It never made a cent, but the process taught him about creating a business plan, marketing, and distribution. "I make mistakes faster than anybody. I think, go, do. That's the Omniture mantra."
2. Let "No" Be a Bigger Part of Your Vocabulary
Before she starred in Bravo's Kell on Earth, Kelly Cutrone founded New York-based PR firm People's Revolution. She tells Inc. that one of the greatest gifts professionally in dealing with employees and clients was learning to harness the power of the word "no." Couple the ability to bring limits into a service industry with her stamina and energy – and Cutrone not only has a personal leadership philosophy, but also something more valuable: A clear idea of the traits she likes to see in those around her.
3. Keep Communications to a Minimum
Joel Spolsky, founder and CEO of Fog Creek Software inNew York City, asks: When was the last time you scheduled a meeting and invited eight people instead of the three people who really needed to be there? When did you send a non-consequential company-wide email? These are symptoms of a common ailment that Spolsky dubs too much communication. It's an efficiency problem especially for fast-growing start-ups, because as you grow, people and departments become specialized, though conversations often do not. Forget keeping everyone on the same page, Spolsky says, and instead think of the time you can save by not overdoing the communications.
4. Motivate Employees Through Volunteerism
When your company is booming, but your employees are service-industry workers who can't be paid too much in reward, what do you do? Amy Simmons, founder of Amy's Ice Cream in Austin, Texas, gets her workers involved in the impact her company has on the community. She brings employees to hospital volunteer days and lets them choose which charities Amy's Ice Cream supports. Pretty sweet.
5. Set Up Your Office as an Idea Factory
If you build it, they will come. For pro skateboarder and entrepreneur Rob Dyrdek, that's precisely the case. He runs all of his more than a dozen ventures out of what's called the Fantasy Factory, his office near Los Angeles. Inc. calls it "America's coolest workplace," and plenty of other people think so too. Everyone from important clients to random celebrities stop by Dyrdek's Mecca of skate culture, often just to hang out, and sometimes, powerful ideas are born.
6. Make Customer Service Everyone's Job
Anytime anyone writes an e-mail to Kayak, the travel search engine Paul English founded with Steve Hafner in 2004, they get a personal response. And a phone call? English will jump over desks to answer it. Indeed every employee, from an office assistant to a web developer, is expected to do the same. Why pay an engineer $150,000 to answer phones? "If you make the engineers answer e-mails and phone calls from the customers, the second or third time they get the same question, they'll actually stop what they're doing and fix the code," English says.
7. Value Creativity Over Productivity
A constructive day for Caterina Fake, co-founder of the photo-sharing site Flickr, might start with she and her colleagues sketching out a prototype, followed by walking through a thought experiment. By noon the light bulb goes on for a fresh idea. In her new start-up, a user-recommendation website based in New York City, she values intuition – and holds herself to that standard at work. She works on whatever feels instinctively right at the moment and lets her schedule take on an organic randomness, so efficiency can feel effortless. That said, she claims to be one of the most productive people she knows.
7. Leave Your Schedule Open
Agility is the key to productivity for Scott Lang, the CEO of Silver Spring Network, a developer of smart energy grids based in Redwood City, California. He leaves large blocks of his schedule open, such that on an average day, he's only 50 percent scheduled. That way, he's open to impromptu meetings, such as if an important new partner's CEO drops by (that happened one open afternoon). And, if he winds up with extra time, he fills it with self-education and big-picture, future-oriented thinking.
8. Don't Treat All Employees Equally
Cutrone, founder of Manhattan PR firm People's Revolution, describes her office as a research and development lab for the "ultimate power chicks." That said, each employee comes with different skill sets and character defects, she says, so she doesn't treat any of her employees the same. "We're talking all day long about our lives, our fears, what's happening, our clients, it's a very creative place," she says.
9. Skip Meetings and Forget Face Time
Mark Cuban, owner of the Dallas Mavericks and CEO of HDNet, says "meetings are a waste of time unless you are closing a deal. There are so many ways to communicate in real time or asynchronously that any meeting you actually sit for should have a duration and set outcome before you agree to go." He estimates he saves five to 10 hours a day conducting business over email, not letting phone calls or face-to-face appointments suck up time. Do it right, he says, and clients and potential partners learn to get to the point without wasting time on the niceties of making a sale or wooing a contact. Nothing but the facts is his e-mail mantra. "Leave the BS for other people," he says.
10. Micromanage. (Sometimes.)
It sounds like a dirty word: micromanage. Business schools teach future CEOs to delegate, delegate, delegate. But Joel Spolsky, the founder and CEO of Fog Creek Software in New York City, finds a lot of value in strategic micromanaging. He writes that he believes a great goal is to hire smart, dedicated people who can be given direction and set free, but when something doesn't go as planned – with a client or in the office – sometimes micromanaging techniques, such as asking the Five Whys – can do just the trick to getting to the root of the problem.
11. Work Weekends, and Love It
For Seth Priebatsch, CEO of SCVNGR, a Boston-based start-up that helps organizations engage people through location-based smartphone games, weekends are not only fair game, but also are highly productive. When he has a particularly difficult problem to solve, he likes to come in on the weekend when there's less going on and spend a day on it. Evenings are for reading up on fresh technology. And he expects the same of his peers and potential hires. "I'll interview people on Saturdays, late at night, early in the morning. Those are perfectly reasonable times to expect someone who is a rock star to be on top of his or her game and excited."
12. Make the Important Calls Yourself
He's got 22 offices and billings of more than $2.6 billion. How does Jordan Zimmerman, founder of Zimmerman Advertising, in Fort Lauderdale, Florida, know what his clients want and are thinking? He calls the CEO or chairperson of every major client every single day. "These people are the brilliance behind the brand, and my job is to keep them in the loop, to make sure that as a team, we're making the right decisions for the brand." So much for delegating.
Great Article from Inc.com!
Wednesday, July 20, 2011
Thursday, February 10, 2011
What It Takes To Be #1!
In honor of the 2011 Superbowl Champs, we re-present the great Vince Lombardi's greatest speech:
There is no room for second place. There is only one place in my game, and that's first place. I have finished second twice in my time at Green Bay, and I don't ever want to finish second again. There is a second place bowl game, but it is a game for losers played by losers. It is and always has been an American zeal to be first in anything we do, and to win, and to win, and to win.
Every time a football player goes to ply his trade he's got to play from the ground up - from the soles of his feet right up to his head. Every inch of him has to play. Some guys play with their heads. That's O.K. You've got to be smart to be number one in any business. But more importantly, you've got to play with your heart, with every fiber of your body. If you're lucky enough to find a guy with a lot of head and a lot of heart, he's never going to come off the field second.
Running a football team is no different than running any other kind of organization - an army, a political party or a business. The principles are the same. The object is to win - to beat the other guy. Maybe that sounds hard or cruel. I don't think it is.
It is a reality of life that men are competitive and the most competitive games draw the most competitive men. That's why they are there - to compete. The object is to win fairly, squarely, by the rules - but to win.
And in truth, I've never known a man worth his salt who in the long run, deep down in his heart, didn't appreciate the grind, the discipline. There is something in good men that really yearns for discipline and the harsh reality of head to head combat.
I don't say these things because I believe in the ‘brute' nature of men or that men must be brutalized to be combative. I believe in God, and I believe in human decency. But I firmly believe that any man's finest hour -- his greatest fulfillment to all he holds dear -- is that moment when he has worked his heart out in a good cause and lies exhausted on the field of battle - victorious."
- Coach Vincent T. Lombardi
What It Takes to be Number One
"Winning is not a sometime thing; it's an all the time thing. You don't win once in a while; you don't do things right once in a while; you do them right all of the time. Winning is a habit. Unfortunately, so is losing.There is no room for second place. There is only one place in my game, and that's first place. I have finished second twice in my time at Green Bay, and I don't ever want to finish second again. There is a second place bowl game, but it is a game for losers played by losers. It is and always has been an American zeal to be first in anything we do, and to win, and to win, and to win.
Every time a football player goes to ply his trade he's got to play from the ground up - from the soles of his feet right up to his head. Every inch of him has to play. Some guys play with their heads. That's O.K. You've got to be smart to be number one in any business. But more importantly, you've got to play with your heart, with every fiber of your body. If you're lucky enough to find a guy with a lot of head and a lot of heart, he's never going to come off the field second.
Running a football team is no different than running any other kind of organization - an army, a political party or a business. The principles are the same. The object is to win - to beat the other guy. Maybe that sounds hard or cruel. I don't think it is.
It is a reality of life that men are competitive and the most competitive games draw the most competitive men. That's why they are there - to compete. The object is to win fairly, squarely, by the rules - but to win.
And in truth, I've never known a man worth his salt who in the long run, deep down in his heart, didn't appreciate the grind, the discipline. There is something in good men that really yearns for discipline and the harsh reality of head to head combat.
I don't say these things because I believe in the ‘brute' nature of men or that men must be brutalized to be combative. I believe in God, and I believe in human decency. But I firmly believe that any man's finest hour -- his greatest fulfillment to all he holds dear -- is that moment when he has worked his heart out in a good cause and lies exhausted on the field of battle - victorious."
- Coach Vincent T. Lombardi
Wednesday, February 9, 2011
Tough Interview Questions
May is quickly approaching, and thousands of new college graduates are approaching the most important time of their lives: working in the real world. The true test of all the knowledge one gains in college is now applied in office spaces all across the nation: the interview test. Yahoo! recently compiled a list of 15 toughest interview questions and also included good and bad answers. Here is a brief overview of the article:
For many people, job interviews are the most stressful part of the job-search process. And it's true that an interview is often a make-or-break moment: If you flub the interview in a big way, you probably won't make the cut--no matter how good your resume is, or how excellent your qualifications are.
You can combat nerves and increase your chances of success by practicing your answers to difficult interview questions. Here are some of the toughest, with suggested answers:
1. Why do you want to work in this industry?
Bad answer:
"I love to shop. Even as a kid, I spent hours flipping through catalogs."
Tip:
Don't just say you like it. Anyone can do that. Focus instead on your history with that particular industry, and if you can, tell a success story.
Good answer:
"I've always loved shopping, but my interest in retail marketing really started when I worked at a neighborhood boutique. I knew that our clothes were amazing, but that we weren't marketing them properly. So I worked with management to come up with a marketing strategy that increased our sales by 25 percent in a year. It was great to be able to contribute positively to an industry I feel so passionate about, and to help promote a product I really believed in."
2. Tell us about yourself.
Bad answer:
"I graduated four years ago from the University of Michigan, with a bachelor's in biology--but I decided that wasn't the right path for me. So I switched gears and got my first job, working in sales for a startup. Then I went on to work in marketing for a law firm. After that, I took a few months off to travel. Finally, I came back and worked in marketing again. And now, here I am, looking for a more challenging marketing role."
Tip:Instead of giving a chronological work history, focus on your strengths and how they pertain to the role. If possible, illustrate with examples.
Good answer:
"I'm really energetic, and I'm a great communicator. Working in sales for two years helped me build confidence and taught me the importance of customer loyalty. I've also got a track record of success. In my last role, I launched a company newsletter, which helped us build on our existing relationships and create new ones. Because of this, we ended up seeing a revenue increase of 10 percent over two years. I'm also very interested in how companies can use web tools to better market themselves, and would be committed to building on your existing platform."
3. What do you think of your previous boss?
Bad answer:
"He was completely incompetent, and a nightmare to work with, which is why I've moved on."
Tip:
Remember that if you get the job, many of the people interviewing you will someday be your previous bosses. The last thing they want is to hire someone they know will badmouth them. Instead of trashing your former employer, stay positive, and focus on what you learned from him (no matter how awful he really was).
Good answer:
"My last boss taught me the importance of time management, didn't pull any punches, and was extremely deadline-driven. His no-nonsense attitude pushed me to work harder, and to meet deadlines I never even thought were possible."
4. Why are you leaving your current role?
Bad answer:
"I can't stand my boss, or the work I'm doing."
Tip:
Again, stay away from badmouthing your job or employer. Focus on the positive.
Good answer:
"I've learned a lot from my current role, but now I'm looking for a new challenge, to broaden my horizons, and to gain a new skill set--all of which I see the potential for in this job."
5. Where do you see yourself in five years?
Bad answer:
"Relaxing on a beach in Maui," or "Doing your job."
Tip:
There's really no right answer to this question, but the interviewer wants to know that you're ambitious, career-oriented, and committed to a future with the company. So instead of sharing your dream for early retirement, or trying to be funny, give an answer that illustrates your drive and commitment.
Good answer:
"In five years I'd like to have an even better understanding of this industry. Also, I really love working with people. Ultimately, I'd like to be in some type of managerial role at this company, where I can use my people skills and industry knowledge to benefit the people working for me, and the company as a whole."
6. What's your greatest weakness?
Bad answer:
"I work too hard," or for the comedian, "Blonds."
Tip:
This question is a great opportunity to put a positive spin on something negative, but you don't want your answer to be a cliche--joking or not. Instead, try to use a real example of a weakness you have learned to overcome.
Good answer:
"I've never been very comfortable with public speaking--which, as you know, can be a hindrance in the workplace. Realizing this was a problem, I asked my previous employer if I could enroll in a speech workshop. I took the class, and was able to overcome my lifelong fear. Since then, I've given several presentations to audiences of over 100 high-level executives--I still don't love it, but no one else can tell!"
7. What salary are you looking for?
Bad answer:
"In my last job I earned $35,000--so now I'm looking for $40,000."
Tip:
"If you can avoid it, don't give an exact number. The first person to name a price in a salary negotiation loses. Instead, reiterate your commitment to the job itself. If you have to, give a broad range based on research you've conducted on that particular role, in your particular city."
Good answer:
"I'm more interested in the role itself than the pay. That said, I'd expect to be paid the appropriate range for this role, based on my five years of experience. I also think a fair salary would bear in mind the high cost of living here in New York City."
8. Why should I hire you?
Bad answer:
"I'm the best candidate for the role."
Tip:
A good answer will reiterate your qualifications, and will highlight what makes you unique.
Good answer:
"I've been an executive assistant for the past ten years--my boss has said time and time again that without me, the organization would fall apart. I've also taken the time to educate myself on some of the software I regularly use (but didn't really understand the ins and outs of). I'm an Excel whiz now, which means I can work faster, and take over some of what my boss would traditionally have had to do herself. What's good enough for most people is never really good enough for me."
9. What is your greatest failure, and what did you learn from it?
Bad answer:
"I never finished law school--and everything that's happened since has taught me that giving up, just because the going gets tough, is a huge mistake."
Tip:
You don't want to highlight a true major regret--especially one that exposes an overall dissatisfaction with your life. Instead, focus on a smaller (but still significant) mishap, and how it has made you a better professional.
Good answer:
"When I was in college, I took an art class to supplement my curriculum. I didn't take it very seriously, and assumed that, compared to my engineering classes, it would be a walk in the park. My failing grades at midterm showed me otherwise. I'd even jeopardized my scholarship status. I knew I had to get my act together. I spent the rest of the semester making up for it, ended up getting a decent grade in the class. I learned that no matter what I'm doing, I should strive to do it to the best of my ability. Otherwise, it's not worth doing at all."
10. How do you explain your gap in employment?
Bad answer:
"I was so tired of working, and I needed a break," or "I just can't find a job."
Tip:
Employment gaps are always tough to explain. You don't want to come across as lazy or unhireable. Find a way to make your extended unemployment seem like a choice you made, based on the right reasons.
Good answer:
"My work is important to me, so I won't be satisfied with any old job. Instead of rushing to accept the first thing that comes my way, I'm taking my time and being selective to make sure my next role is the right one."
To see the rest of the questions & answers, or to get more information on successful interviews visit: Yahoo! 15 Toughest Interview Questions
For many people, job interviews are the most stressful part of the job-search process. And it's true that an interview is often a make-or-break moment: If you flub the interview in a big way, you probably won't make the cut--no matter how good your resume is, or how excellent your qualifications are.
You can combat nerves and increase your chances of success by practicing your answers to difficult interview questions. Here are some of the toughest, with suggested answers:
1. Why do you want to work in this industry?
Bad answer:
"I love to shop. Even as a kid, I spent hours flipping through catalogs."
Tip:
Don't just say you like it. Anyone can do that. Focus instead on your history with that particular industry, and if you can, tell a success story.
Good answer:
"I've always loved shopping, but my interest in retail marketing really started when I worked at a neighborhood boutique. I knew that our clothes were amazing, but that we weren't marketing them properly. So I worked with management to come up with a marketing strategy that increased our sales by 25 percent in a year. It was great to be able to contribute positively to an industry I feel so passionate about, and to help promote a product I really believed in."
2. Tell us about yourself.
Bad answer:
"I graduated four years ago from the University of Michigan, with a bachelor's in biology--but I decided that wasn't the right path for me. So I switched gears and got my first job, working in sales for a startup. Then I went on to work in marketing for a law firm. After that, I took a few months off to travel. Finally, I came back and worked in marketing again. And now, here I am, looking for a more challenging marketing role."
Tip:Instead of giving a chronological work history, focus on your strengths and how they pertain to the role. If possible, illustrate with examples.
Good answer:
"I'm really energetic, and I'm a great communicator. Working in sales for two years helped me build confidence and taught me the importance of customer loyalty. I've also got a track record of success. In my last role, I launched a company newsletter, which helped us build on our existing relationships and create new ones. Because of this, we ended up seeing a revenue increase of 10 percent over two years. I'm also very interested in how companies can use web tools to better market themselves, and would be committed to building on your existing platform."
3. What do you think of your previous boss?
Bad answer:
"He was completely incompetent, and a nightmare to work with, which is why I've moved on."
Tip:
Remember that if you get the job, many of the people interviewing you will someday be your previous bosses. The last thing they want is to hire someone they know will badmouth them. Instead of trashing your former employer, stay positive, and focus on what you learned from him (no matter how awful he really was).
Good answer:
"My last boss taught me the importance of time management, didn't pull any punches, and was extremely deadline-driven. His no-nonsense attitude pushed me to work harder, and to meet deadlines I never even thought were possible."
4. Why are you leaving your current role?
Bad answer:
"I can't stand my boss, or the work I'm doing."
Tip:
Again, stay away from badmouthing your job or employer. Focus on the positive.
Good answer:
"I've learned a lot from my current role, but now I'm looking for a new challenge, to broaden my horizons, and to gain a new skill set--all of which I see the potential for in this job."
5. Where do you see yourself in five years?
Bad answer:
"Relaxing on a beach in Maui," or "Doing your job."
Tip:
There's really no right answer to this question, but the interviewer wants to know that you're ambitious, career-oriented, and committed to a future with the company. So instead of sharing your dream for early retirement, or trying to be funny, give an answer that illustrates your drive and commitment.
Good answer:
"In five years I'd like to have an even better understanding of this industry. Also, I really love working with people. Ultimately, I'd like to be in some type of managerial role at this company, where I can use my people skills and industry knowledge to benefit the people working for me, and the company as a whole."
6. What's your greatest weakness?
Bad answer:
"I work too hard," or for the comedian, "Blonds."
Tip:
This question is a great opportunity to put a positive spin on something negative, but you don't want your answer to be a cliche--joking or not. Instead, try to use a real example of a weakness you have learned to overcome.
Good answer:
"I've never been very comfortable with public speaking--which, as you know, can be a hindrance in the workplace. Realizing this was a problem, I asked my previous employer if I could enroll in a speech workshop. I took the class, and was able to overcome my lifelong fear. Since then, I've given several presentations to audiences of over 100 high-level executives--I still don't love it, but no one else can tell!"
7. What salary are you looking for?
Bad answer:
"In my last job I earned $35,000--so now I'm looking for $40,000."
Tip:
"If you can avoid it, don't give an exact number. The first person to name a price in a salary negotiation loses. Instead, reiterate your commitment to the job itself. If you have to, give a broad range based on research you've conducted on that particular role, in your particular city."
Good answer:
"I'm more interested in the role itself than the pay. That said, I'd expect to be paid the appropriate range for this role, based on my five years of experience. I also think a fair salary would bear in mind the high cost of living here in New York City."
8. Why should I hire you?
Bad answer:
"I'm the best candidate for the role."
Tip:
A good answer will reiterate your qualifications, and will highlight what makes you unique.
Good answer:
"I've been an executive assistant for the past ten years--my boss has said time and time again that without me, the organization would fall apart. I've also taken the time to educate myself on some of the software I regularly use (but didn't really understand the ins and outs of). I'm an Excel whiz now, which means I can work faster, and take over some of what my boss would traditionally have had to do herself. What's good enough for most people is never really good enough for me."
9. What is your greatest failure, and what did you learn from it?
Bad answer:
"I never finished law school--and everything that's happened since has taught me that giving up, just because the going gets tough, is a huge mistake."
Tip:
You don't want to highlight a true major regret--especially one that exposes an overall dissatisfaction with your life. Instead, focus on a smaller (but still significant) mishap, and how it has made you a better professional.
Good answer:
"When I was in college, I took an art class to supplement my curriculum. I didn't take it very seriously, and assumed that, compared to my engineering classes, it would be a walk in the park. My failing grades at midterm showed me otherwise. I'd even jeopardized my scholarship status. I knew I had to get my act together. I spent the rest of the semester making up for it, ended up getting a decent grade in the class. I learned that no matter what I'm doing, I should strive to do it to the best of my ability. Otherwise, it's not worth doing at all."
10. How do you explain your gap in employment?
Bad answer:
"I was so tired of working, and I needed a break," or "I just can't find a job."
Tip:
Employment gaps are always tough to explain. You don't want to come across as lazy or unhireable. Find a way to make your extended unemployment seem like a choice you made, based on the right reasons.
Good answer:
"My work is important to me, so I won't be satisfied with any old job. Instead of rushing to accept the first thing that comes my way, I'm taking my time and being selective to make sure my next role is the right one."
To see the rest of the questions & answers, or to get more information on successful interviews visit: Yahoo! 15 Toughest Interview Questions
Thursday, January 20, 2011
Suit Drive Success!!!
We finalized the suit drive with a success! We were able to donate approximately $1,000 worth of suit donations!!!! Those suits are now being processed & drycleaned and will be available for Mizzou college students to purchase at a very low price for the journey into the real working world! Congrats to the Empire team for the high amount of donations, and best wishes to all of you soon to be college graduates!!!
Thursday, January 13, 2011
Read up!
Recently found: Browsing through Yahoo! I found this article in the Finance section. Interestingly enough to place it in our blog. I knew our team would enjoy the read, so I thought we would share it with the rest of the cyber world! Enjoy!
It's the nature of New Year's resolutions to make promises that we can't keep. This is the year we'll go on a diet, work out at the gym, quit smoking, feed the homeless, learn Chinese and be a better Mom, Dad, brother, sister, son, daughter or friend.
provided by |
Here are good reasons to take the plunge this January instead of procrastinating until 2012.
1. You'll never get laid off again.
Tired of being a number on somebody else's spreadsheet? That won't happen once you start working for yourself. "Jobs used to be for life, and leaving a company to start your own could put your entire career in jeopardy," says David Ronin, co-founder of UpStartBootcamp.com, a New York company that provides coaching, classes and information to first-time entrepreneurs. "Now the average job lasts about four years—if you can get one." On the flip side, most start-ups don't succeed and, while you won't get fired from your own business, you might end up shutting it down and losing the money you invested. "You'll probably take home a smaller salary, work harder and face higher stress levels, too," Mr. Ronin says.
2. You can stop asking your boss for a raise and give yourself one.
When you run your own business, there's no limit to how much money you can make if your company takes off. Because you're taking all the risk, you're entitled to all the upside. "A 'real' job does not have your best interests at heart—ever," says Scott Gerber, a New York entrepreneur and author of "Never Get a 'Real' Job." "Most jobs offer employees nothing more than a false sense of security, a workload that far exceeds their pay grades and a benefits package that they are most likely paying for themselves." While getting a business off the ground is never easy, every dollar that you put in and every hour that you work is an investment that returns profit back to you. "Find me any job that offers that level of financial incentive, and perhaps I'll think of getting a 'real' job," Mr. Gerber says. (Mr. Gerber is also head of Young Entrepreneur Council, which writes a guest column for WSJ.com.)
3. You can write off that new laptop, Blackberry, iPad or printer.
One of the fringe benefits of running your own business is the opportunity to write off or depreciate legitimate business expenses. Recent changes in the tax laws make these deductions even sweeter. Under expanded bonus depreciation rules, qualified investments in fixed assets purchased between Sept. 9, 2010, and Dec. 31, 2011, can be fully written off for federal tax purposes, according to Michael J. Goldberg of New York's Ganer, Grossbach & Ganer LP. (Check with your accountant to make sure your state accepts bonus depreciation for tax purposes.) A new business also can use the Section 179 deduction to write off the price of certain equipment or software, up to $500,000 in 2011. The disadvantage is that the current year Section 179 deduction cannot exceed the net income of the business. Start-up costs of up to $10,000 are deductible once the business begins, Mr. Goldberg adds.
4. You can unplug and work anywhere there's WIFI reception.
Forget the daily grind of commuting to the office. Today's mobile start-ups have unplugged from their digital tether. Small business and social-media marketing consultant Richard Wooley, co-founder of New York's Bond/Wooley Inc., says the key to working virtually is picking your spots—ideally, locations that offer comfy chairs and free WiFi. "When I'm spending an afternoon working through a call list, the best place for me is an independent coffee shop," Mr. Wooley says. "Starbucks can get too noisy to have a real conversation on a cell phone." By contrast, Mr. Wooley finds a quiet bar the perfect setting for crunching complex formulas in the Excel spreadsheets he prepares for clients' business plans. Says Mr. Wooley, "The key is to take off the shackles of a cubicle, charge your laptop battery and get out in the world."
5. There's never been a cheaper time to start a business.
Ten years ago, a typical Internet start-up needed $1 million to launch a product and millions more to prove its business model and scale it to profitability or an IPO. Today's start-ups run lean and mean thanks to the plunging cost of technology and a surplus of real estate and talent. "The popular 'lean start-ups' approach favors developing a product and getting it into the hands of customers as quickly and inexpensively as possible," says Mr. Ronin of UpStartBootcamp.com. "Plus, the stigma of freelancing has lifted for both companies and individuals so start-ups can hire top talent on an as-needed, virtual basis. This lets founders hire better talent with more flexibility, reduced office space needs, and lower benefits costs." And thanks to the power of social networking, it's no longer necessary to hire an expensive PR firm to generate press. You can target niche publishers and bloggers instead.
Thursday, January 6, 2011
Suit Drive
Empire Executives is partnering with Mizzou to bring in suits for college graduates who cannot afford new suits on the important interviews they will undergo in the crucial first months out of college. This drive benefits The Food Bank for Central & Northeast Missouri. The university will be collecting new and used suits until January 21st. If interested in helping this great cause bring in your new or used suits to:
104 Cornell Hall Columbia, MO 65211
Attn: BCS Suit Drive
For those of you in the St. Louis area, you can drop off your suits to our firm until January 17th. For more information, contact Brittany at 314) 205- 1132. Thank you in advance for all of your support!!
104 Cornell Hall Columbia, MO 65211
Attn: BCS Suit Drive
For those of you in the St. Louis area, you can drop off your suits to our firm until January 17th. For more information, contact Brittany at 314) 205- 1132. Thank you in advance for all of your support!!
Tuesday, December 21, 2010
What does it take to be a successful entrepreneur??
Empire Executives is a team of entrepreneur minded individuals. Each member of our team is successful, and strives to be on top. I came across this list of the 20 qualities needed to be a successful entrepreneur. I found it interesting, and I believe in it whole heartedly. I am very proud of our team's success, and I believe each possess the qualities it takes to be on top. So here it goes:
20 QUALITIES NEEDED TO BE A SUCCESSFUL ENTREPRENEUR
Signing off...Brittany May, HR Manager
20 QUALITIES NEEDED TO BE A SUCCESSFUL ENTREPRENEUR
- Successful entrepreneurs have an unwaivering, total belief in themselves and never allow anyone or anything to dispel that belief.
- Entrepreneurs are self-motivated; they don't need anyone or anything other than their goals to motivate them.
- Successful entrepreneurs are not people who never fail but all successful entrepreneurs have the capacity to bounce back after failure. Most will talk about their failures as part of their learning curve.
- Entrepreneurs are driven by a manic need to succeed. This can take the form of money, recognition, fame or power.
- Successful entrepreneurs are the world's worst losers. They have to win at all costs.
- Entrepreneurs are decisive, they take risks, they act impulsively on gut feelings.
- The most successful entrepreneurs know their limitations and surround themselves with people who have the skills they lack.
- Entrepreneurs are driven and focused on their sales targets at all times.
- Successful entrepreneurs are prepared to make personal sacrifices in order to succeed.
- Entrepreneurs are intuitive, recognizing niche markets and business opportunities that others fail to see.
- The most successful entrepreneurs are multi-taskers with the capacity to cope and deal with several ideas and projects at one time.
- Entrepreneurs are organized, not necessarily on paper but in their heads and able to maintain information and monitor progress at all times.
- Entrepreneurs make things happen, they do not spend their time dreaming about success. They get an idea and act swiftly.
- Entrepreneurs do not recognise limits of boundaries, they set high targets, achieve them and set further goals. They are never satisfied no matter their level of success.
- Successful entrepreneurs are determined to succeed no matter what it takes.
- Entrepreneurs are persistent and able to endure rejection and set backs.
- The most successful entrepreneurs do their research to ensure they have the answers before problems arise.
- Entrepreneurs are open minded and prepared to listen and learn from everyone.
- Successful entrepreneurs are professional in their approach to business at all times.
- The most successful entrepreneurs never stop thinking about business, ideas and business opportunities. Few survive on more than a few hours of sleep a night and most will carry a pen and paper by their bed.
Signing off...Brittany May, HR Manager
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