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10 Financial Resources for New Small Business Owners

10 Financial Resources for New Small Business Owners

You’ve taken the leap toward turning your passion into a business—now comes the hard part: managing and growing it. For many people, the most challenging part of managing a new small business is finances: What should I track? What do I need to worry about for taxes? How do I pay employees?

Luckily, we live in the 21st century, where all you have to do is get online to find a slew of financial resources that will guide you. As a small business owner, however, you don’t have time to sift through the Google results, so I did it for you. Here are ten that will be especially helpful in your first year, as you learn the basics and lay your groundwork.

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Access Financing Tool

If you’re still looking for funding, use this tool from Business USA. After answering a few short questions, including what kind of financial help you need and what kind of business you’re starting or running, you’re presented with a variety of government loans and grants you can apply for.

Introduction to Financing

This 30-minute course is provided by the U.S. Small Business Association and is free to anyone who’s interested in taking it. During the course, you’ll learn the basics of accounting, including what money flows are, how to keep an accurate ledger, and much more. If you’re totally new to accounting, don’t miss this.

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Tax and Expense Organizers

The easiest way to start learning what you do and don’t need to track is to get pre-made financial organizers created by financial professionals. The experts at Curtin CPA have created a variety of templates for you to print, including expense worksheets, expense organizers, tax-exempt organization forms and more. Find what you need, print, and start learning.

Savings Plans for Small Businesses

This is another 30-minute course from the U.S. SBA, and is also free. During the course of this training, you’ll get an overview of savings plans and strategies, including long-term savings plans, tax breaks, retirement planning and more. This is another informative course that’s a no-brainer for any new small business owner.

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IRS Virtual Workshop

This “virtual workshop” is all about small business taxes. Within the workshop you’ll find nine different lessons, starting with “what you need to know about federal taxes” and ending with “hiring people who live in the U.S. but aren’t U.S. citizens.” This resource comes straight from the source, making it one of the most valuable financial resources on this list.

Myth Busters—Minimum Wage Edition

This video put together by the National Federation of Independent Business, breaks down details surrounding minimum wage. As they say in the description: “Misinformation swarms around minimum wage. See what common notions are actually works of fiction.”

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SME Toolkit Financial Forms

This is a long list of forms you’ll want to bookmark for later. Here you’ll find everything from cash flow analysis worksheets to employee timesheets and budget planners. All are free and downloadable.

How to Prepare a Balance Sheet

This resource provides you with the initial equations you need to create an accurate balance sheet in addition to details for determining what your assets and liabilities are. You’ll also find formatting suggestions for the final spreadsheet that you create.

Small Business Calculators

Head over to Sure Payroll’s financial resources section and you’ll find a variety of calculators that you can use to determine payroll costs. Choose from a number of specific calculators, including those for payroll deductions, payroll taxes, marginal tax rate and earned income credit.

Top Tax Deductions

Don’t miss an opportunity to deduct come tax time. This list of potential deduction opportunities, put together by Forbes, is a great place to start when determining how you can save when tax season comes around.

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Last Updated on August 16, 2019

15 Smart Ways to Approach Interpersonal Relationships at Work

15 Smart Ways to Approach Interpersonal Relationships at Work

Once you have embarked on your professional life, whether it is after college or high school, you will be making a transition to the workplace. If possible, it is good to find an employer that is flexible. In other words, one that possesses a culture that is diverse and tailors to the needs of its employees as a bottom line.

But, even if you don’t land your dream job right away, there are many ways to improve your experiences within the workplace as you climb the career ladder.

In the subsequent sections will be looking over ways to engage your relationships at work, including 15 ways to effectively approach interpersonal relationships at the workplace.

1. Open Up Cautiously

Depending on if its a startup, a small business, enterprise or corporation it’s important to be aware of your surroundings.

Be mindful of how much you open up about yourself, specifically regarding your personal life. You do not want to give the wrong impression, so be careful how much or what details you divulge about being in a relationship or having children.

You have to reach a certain comfort level and rapport with the rest of the staff to be able to engage in transparent conversations. A good general guideline is to stick to small talk.

2. Observe Your Surroundings

There will be times when we are summoned to have a leadership role or to undertake a project to lead a team.

Try not to be too bold or overcompensate at every turn when there is a meeting or an interaction among other staff or employees. The last thing you want to do is to be the person who wants to monopolize every conversation and every interaction.

Be a passive observer at first, and more often than not, you will learn a lot by letting others talk a lot about themselves.

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3. Listen Actively

It may seem redundant, but it is essential to practice the art of really listening to the other person.

Developing interpersonal skills and connections with others at work comes down to listening. It is not just paraphrasing what your superiors or colleagues are trying to communicate; it is about understanding what is at the core and reading between the lines.

Phrases like “I can see what you are saying” or “I can acknowledge your insight” are just some examples. Learn to empathize and relate with people with whom you have a genuine connection.

4. Consolidate All Feedback

When you learn to listen to others and to allow them to finish their thoughts you are on your way to be being a great communicator.

One of the toughest tasks to accomplish is to include everyone’s voice. Don’t rely on shout-outs or trying to come up with the best answer. Including everyone’s voice is about listening to all suggestions and putting together an entire picture. When everyone feels part of the process there is great cohesion.

5. Never Make Sweeping Judgements

As person and a human being with compassion never make any assumptions about anyone.

Just because they have a certain skin color, clothes or physical features, never make stereotypical or generalizations about anyone.

6. Keep Emotions in Check

Work-related stress is something we all have to deal with at some point or another. Whether you work in the public or private sector you will encounter stressors or stressful co-workers. In this case, it is good to keep open the lines of communications.

Always ask to clarify how a person feels and where they are coming from. It is better to entertain these conversations before they make a person lash out or have a negative reaction. Ask to speak privately and get feedback. When you do this it really shows you care about what your role is and that you are a true professional.

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7. Give Help to Others

Having compassion and empathy for others is a noble attitude to practice.

Though, do be careful about how much you want to get involved with colleagues at the office; it could jeopardize the nature of your work relationship and the roles you both have.

It’s best to separate the personal from the professional and lend a hand by using your best judgement.

8. Broaden Your Horizons

Once you have worked in a company or an organization, things can get repetitive and dull. Sometimes we need to remember that we are human and need to fulfill certain responsibilities.

Often we want to try to change things by introducing our best abilities or perhaps our inventions, but we need to be realistic. Change does not happen overnight, rather it is a long process.

Step back and take a look at the big picture, and, put all your cards on the table to get perspective. Sometimes we approach situations in life from the wrong point-of-view.

9. Be Optimistic

This is probably one you have heard time and time again.

When we suggest to have a positive attitude it does not mean to fake it until you make it, nor to conceal your feelings. This is not the case in this situation. Overall, you want to try to be authentic in how you are feeling, because life will throw curve balls that are beyond our control.

10. Be Sensitive to Cultural Norms

Whenever you are around other people within a professional workspace, do not make assumptions in trying to figure people out in an instant.

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Some cultures discourage physical contact, while others may be inviting. Always be courteous, respectful and ask questions. It will not only make you more aware of others’ needs, but show that you are considerate of the differences.

You do not want to get off on the wrong foot by being too friendly or too touchy. Just observe how people respond to your approach and let them lead the way of what is a safe practice to meet and greet the first time around.

11. Show Professionalism

How you interact and carry yourself around others will be the difference between a job promotion or losing your job. No matter what, always respectful and professional towards others.

You will have an opportunities in life and at work, so showcase an outpouring of great and positive energy in the face of adversity.

12. Get Involved with Activities

When you are part of a company, there are often opportunities for organized activities outside of the office space.

Sometimes it is worth exploring uncharted terrain and to get to know people in a different environment. Plus, you will have an opportunity to be seeing in a different light.

Even though you are off the clock, keep your professional tenure and set boundaries. You want to be vulnerable, but not put yourself in a comprising position. Use your intuition and common sense to evaluate these situations.

13. Get to Know Your Company

With your smartphone or your laptop, you have at your fingertips a mine of information online. Just as you would do before a job interview, conduct ample research to get familiarized with what your company does and how its branding is perceived via the media or social networks.

Rather than just focusing on doing your job and fulfilling the duties, see what the business is up to. It is fundamental to really know what organization you belong to. Get educated on what other ventures they are involved with as well as the ones that you are directly in the know about.

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14. Learn to Problem Solve

Problem solving is going to be a skill you will acquire with experience and by making mistakes. Furthermore, not only will you make mistakes but you will likely also sometimes fail. This is okay and is part of the natural swing of things!

Learn to take responsibility for your actions and decisions. At the same time, do not blame others for coming up short. When you come forward with the truth and responsibility, your supervisors or superiors will take notice of your authenticity.

One of the greatest gifts in life is fail and once you experience you start to get a different perspective on how to move forward at the job.

15. Do Some Prospecting

If you have coding, computer, language or other beneficial skills, be sure to pitch these at the right time.

When you start out new at a company it is best not to show all your cards. It is like poker: don’t let others see if you believe you have the upper hand. Take time to get familiarized with your company and organization before promoting your outside skillset.

You will know when to put forward your amazing talents, so proceed with caution.

Conclusion

Learning to refine your interpersonal skills is a lifelong process. In time, you will also became more effective and skillful after accumulating work-related experiences.

Exert humility, understanding, compassion, and mindfulness and the rewards will come!

Featured photo credit: Brooke Cagle via unsplash.com

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