Some colors have become synonymous with certain big companies: red is part of CocaCola’s brand, IBM is “Big Blue,” and McDonalds is identified by the golden arches. Make colors work for you when you’re redecorating your office, designing a logo, or creating advertising material. More than 15 years ago I looked into this subject and learned then that color can account for 60% of the acceptance or rejection of a product or service (while this stat is quoted often, my original source/link for it no longer works). So I thought I’d go back and paint a picture of how colors […]

The Tax Cuts and Jobs Act eliminated any deduction for entertainment costs, so taking a customer to a ballgame or an associate to the theater is not deductible after 2017. Clearly the cost of meals consumed during business travel was under prior law and is under current law deductible. However, the repeal of the entertainment deduction raised doubt about the deduction for wining and dining customers, clients, vendors, employees, and other business associates. Fortunately, the IRS has clarified the rule and it’s favorable to businesses. Basic rule The cost of food and beverages is deductible when certain conditions are met: […]

In today’s workplace, you’re likely to have employees of all ages. They fall into different generations. They have different experiences and skills. They may or may not have different work habits. Understanding your staff and maximizing what each employee has to offer is the key to creating a great company culture that benefits your business. What are the generations? Labels say a lot. The following is a list of generations from the Pew Research Center, based on the year of birth (there’s considerable dispute about the breakpoints): Silent generation (1928-1945) Baby boomers (1946-1964) Generation X (1965-1980) Millennials (1981-1996) Generation Z […]

Nearly half of all data breaches are aimed at small businesses and occur through the acceptance of credit cards. Last year we posted a blog on this topic and want to update it in light of the Verizon 2018 Payment Security Report (you have to give your name, email, and company in order to download it); here’s an executive summary of the report. Some of what follows is a repeat of the prior blog which, from the Verizon report, was not taken too seriously by many businesses. Trends in payment security The Payment Card Industry Data Security Standard (PCI DSS) helps […]

One of the biggest financial challenges facing many employees these days is student loan debt. It may be millennials with their own loans, or it may be older employees with loans they’ve taken to put their children through school. According to the Federal Reserve and Make Lemonade, there are currently more than 44 million borrowers who owe $1.52 trillion in student loan debt. As an employer, what does this mean to you? Impact on employee retention Student loan debt may influence whether a person accepts a job offer or stays on a job with you. According to research, 90% of […]

One hundred and ten years ago, a girl was born in Queens, New York, and grew up there, like me. She would go on to found, with her husband Joseph Lauter (later changed to Lauder), a cosmetic empire. According to TIME Magazine, she is one of the 20 most influential builders and titans of the 20th century (the only woman to make the list). Her personal story and professional success are inspirational. And her famous quotations are motivational. Here are my top 20 favorite quotes: “All great things begin with a vision…a dream.” “Risk taking is the cornerstone of empires.” […]

Pride, envy, gluttony, lust, anger, greed, sloth … the 7 deadly sins that the Catholic Church warned against in the middle ages. It’s easy to see how each of these sins can be applied in a business context. For example, Harvard Business Review posted an article on The Seven Deadly Sins of Management, explaining lust is all about vanity projects, pride about overestimating abilities (you get the picture). But I think there are other sins that business owners can commit to the detriment of their businesses. Here are my top 7: 1. Rashness. This is all about not having a […]

With unemployment at historic lows, the job market now is tight. It’s so tight that the NFIB August 2018 report found that a quarter of all small business owners cited the difficulty of finding qualified workers as their single most important business problem. So how do you ensure that the employees you have will stay and the openings you have will be filled? One key way is to learn what employees think and address their concerns. Make employees feel valued It’s a sad fact that about 70% of U.S. workers feel disengaged at work. This leads to workers changing jobs […]