Mastering the Craft of a Successful Contracting Business | Cool Business Ideas

September 18, 2024September 17, 2024 ~ knjohn ~ Leave a comment

Breaking ground in the contracting industry requires more than just a set of tools and a truck. With the market becoming increasingly competitive, contractors need innovative strategies to stand out. Today, we’ll explore the essentials of running a successful contracting business, providing actionable insights ranging from establishing your brand to leveraging technology and enhancing customer satisfaction. If you’re ready to build a strong foundation for your contracting enterprise, read on to learn the secrets of success.

Establishing Your Brand

Creating a unique brand is crucial in the contracting world. Your brand is your promise to customers and sets you apart from competitors. Begin by defining your unique selling proposition (USP). What makes your services different and better? Whether it’s exceptional craftsmanship, quick turnaround times, or competitive pricing, make sure your USP is clear and compelling.

Brexit is ‘stifling’ Britain’s trade with Europe and the problem is getting worse | CNN Business

September 17, 2024 ~ knjohn ~ Leave a comment

Brexit is having “profound and ongoing stifling effects” on goods trade between the United Kingdom and the European Union, according to a new report that adds to evidence of the economic damage wrought by Britain’s exit from the world’s largest trading bloc.

Researchers at Aston University in England estimated that between 2021 and 2023, annual UK exports of goods to the EU were 17% lower than they would have been had Brexit never happened. Exports in most sectors have decreased since 2021, according to the report.

“The study highlights that the negative impacts of (Brexit) have intensified over time, with 2023 showing more pronounced trade declines than previous years,” the researchers wrote in the paper published Tuesday.

Fall equinox 2024: When it is, why it happens and what to look for | Live Science

September 16, 2024September 15, 2024 ~ knjohn ~ Leave a comment

While meteorologists like to call fall at the beginning of September, astronomical autumn starts later, on the autumnal equinox. This year, it falls on Sunday, Sept. 22 at 8:44 a.m. EDT (12:44 UTC), according to the National Weather Service.

At this specific time, Earth’s axis is tilted side-on to the sun, meaning there’s an almost equal amount of sunlight and darkness across the globe.

This celestial geometry marks the changing of the seasons — from summer to autumn in the Northern Hemisphere and from winter to spring in the Southern Hemisphere. The word “equinox” is Latin for “equal night,” one of two days per year when the lengths of daylight and darkness are the same across the globe.

How to Create an Invoice | businessnewsdaily.com

September 13, 2024September 12, 2024 ~ knjohn ~ Leave a comment

If you’re familiar with the basics of small business accounting, then you know that signing a new client doesn’t mean you’ll get their cash right away. If anything, you might have to wait several weeks or months before the money in your company’s accounts receivable hits your business’s cash account. And if you don’t send invoices for your work, you might never get that money.

Neglecting to send invoices can delay your clients’ payments, as often, clients need to receive invoices to trigger their payment processes. Since your clients likely record invoices in accounts payable upon receipt and pay according to their in-house pay schedule, your clients may miss or ignore payments without invoices to trigger their pay processes. Fortunately, sending invoices is easy. Below, we’ll walk you through how to create an invoice.

How to Pay Yourself as a Business Owner | Business News Daily

September 13, 2024September 12, 2024 ~ knjohn ~ Leave a comment

As a business owner with a thousand responsibilities and your own company expenses to think about, factoring in how to pay your own salary can easily fall to the back burner. But when it comes to optimizing your business’s financial performance, retaining top employees, and building a long-lasting, successful company, how you choose to pay your own salary matters.

Your business’s structure will be a major factor, and experts like Alice Brendin, a B2B marketing entrepreneur and small business advisor, said it’s important to include your own pay in the budget as soon as you can afford to do so. By prioritizing your own salary structure, you can set your company up for long term success.

How to pay yourself as a business owner

According to the IRS, business owners should pay themselves a “reasonable salary.” But how do you determine what’s reasonable?

This sleek new L.A. commuter train is pollution-free | Fast Company

September 12, 2024September 11, 2024 ~ knjohn ~ Leave a comment

On a cold day, a new train puffs out clouds that look like smoke, just like a traditional steam engine. But the train—which runs on hydrogen fuel cells, not coal—doesn’t create any climate emissions or air pollution. The only exhaust is water vapor.

The sleek blue train is the first of its kind in North America. Called a ZEMU, (zero-emissions multiple unit), it will soon begin carrying passengers between two cities east of Los Angeles, connecting commuters to other trains that travel to downtown L.A.

Southern California wildfires burn homes and ski resort | Fast Company

September 12, 2024September 11, 2024 ~ knjohn ~ Leave a comment

Two Southern California wildfires torched dozens of mountain homes, tore through a ski resort, and forced thousands to evacuate in towns and cities east of Los Angeles on Wednesday.

Around 40 homes and cabins burned in the villages of Mount Baldy and Wrightwood, and flames swept through the nearby Mountain High ski resort in San Bernardino County, the Los Angeles Fire Department reported.

The blaze, named the Bridge Fire, exploded to more than 48,000 acres, becoming the largest in the state and one of four burning within sight of each other. The Southern California fires have blackened 105,000-plus acres of scrub, brush, and forest, an area a third the size of Los Angeles.

3 Downsides of Venture Capital—And How to Avoid Them | All Business

September 11, 2024September 10, 2024 ~ knjohn ~ Leave a comment

Raising money for your business can be great. Many entrepreneurs see it as validation that they’ve “made it.” While it is a good sign that a professional investor has kicked the tires on your company and is willing to invest their money, there are some downsides to venture capital that might mean that raising venture funds is not the right path for you.

Sure, there are many advantages of securing a round of investment from a “value-add” partner. It can open the doors to important introductions, kick-start a business into high growth, and even refocus a business for success. But not all venture funding stories have such happy endings. There are, in fact, times when a business might encounter more negatives than positives when accepting venture funds.

To avoid this path, there are potential scenarios in which venture capital is a major drawback:

Microloans for Small Business: Learn What’s Available and Whether to Apply | All Business

September 11, 2024September 10, 2024 ~ knjohn ~ Leave a comment

When you own a small business, you’ll have a variety of obstacles to deal with and needs to meet. The one near-constant, however, is financing.

Like it or not, you need money to make money, and one of the biggest reasons why small businesses fail is their inability to deal with cash flow issues. Even successful businesses that have plenty of revenue sometimes hit a fatal cash crunch at the wrong time. To combat this ongoing issue, business owners sometimes turn to business loans and other financing products, which can make sense if you have a plan in place to pay back your funding plus interest. One overlooked financing product, however, is the microloan.

Most business owners are familiar with the term microloan, even if they’ve never considered one themselves. The concept of microlending has transformed entrepreneurship in countries and markets where the barrier to entry is sometimes as little as a few hundred dollars—though that hardly seems like a useful sum to most U.S.-based businesses.