We all know that a barometer is an instrument used to measure atmospheric pressure. Another definition of a barometer is something that reflects changes in circumstances and opinions. A good business barometer could be an annual review of that business to determine current trends and can also be used to forecast the future, and thus, to revise a strategic business plan.
Many experts recommend saving 10% to 15% of pretax income annually for retirement. But while Americans accumulate the majority of their retirement funds through employer-sponsored defined-contribution plans, according to a report from the Pew Charitable Trusts, many small business owners and their employees are not afforded this option.
Communication is a two-way street. But most of what’s written about effective business communication focuses on just one side: speaking. The other side—listening—is often overlooked but at least as important.
NaperLaunch will celebrate its sixth annual Entrepreneurs Week with programs designed to explore the foundational concepts, skills, and techniques of entrepreneurship.
The week kicks off on Monday, September 30 at 6:30 p.m. at the 95th Street Library with Building Relationships through Effective Listening, presented by John Panarese of Fox Valley SCORE.
Is getting in front of people and convincing them that you have a great product or service one of your favorite things to do? If so, you’re probably in the minority among entrepreneurs. The truth is, many startup entrepreneurs who have a great business idea are fearful and unprepared to pitch their business to others.
Past participants in the NaperLaunch Academy have reported doubling their revenue in the 12 months following graduation. Others have increased their sales and expanded their business lines. Whether you’re thinking of starting a business or looking to take your business to the next level, the Academy has a proven track record of fostering business success.
The Academy offers a focused curriculum to help entrepreneurs develop a business idea, determine its feasibility, complete a break-even analysis, and write a solid business plan, including deep financial forecasting.
For more than 50 years, National Small Business Week has recognized the critical contributions of America’s entrepreneurs and small business owners.
According to the U.S. Small Business Administration, more than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.
A recent article on The Balance Small Business website describes four reasons coworking spaces can be ideal for entrepreneurs. All of these benefits—and more—are available to members of NaperLaunch, the business startup services center and coworking space located at the Nichols Library in downtown Naperville.
One of the most significant changes in the Tax Cuts and Jobs Act will be a 20% deduction for all pass-through businesses. (Businesses that pass income to the owner to pay the income taxes.) This means, as an example, if your revenue in 2018 was $500,000, you will pay taxes on only $400,000 of that revenue. In a 15% tax bracket, the savings will be about $4,500 on a gross basis and even on a net basis the savings will get your attention. It is anticipated that this will impact roughly 95% of the small businesses in the United States.
Don’t let the hustle and bustle of the holiday season cause you to forget about your business. Crossing these items off your to-do list before the end of the year will help you not only close out 2018 but also get off to a good start in 2019.