July 2016

More and more, we see companies putting social responsibility at the forefront of their mission or value statements. And it’s no surprise as to why. Giving back and prioritizing the community echoes the adage doing well by doing good.

Just recently in our office, we discussed ways in which Decisely could give back. Not just because it “feels good” to do so. But, because there is a slew of other benefits that come with dedicating our time to different causes. From volunteering to immersion experiences, the options and ideas are endless. The cool thing is that giving back can positively impacts others, but also yourself. Science says so.

The Benefits

1. Improve or develop new skills.

Have a green thumb? Ever wanted to master the art of knitting? Try planting some flowers in a community garden or making sweaters or scarves for homeless shelters. Either way, volunteering gives you the opportunity to pursue activities that interest you.

2. Gain more time.

Or at least feel like you are. The premise behind this logic is that giving back serves as a dedicated and purposeful use of your time. Meaning those that volunteer feel like their time is never wasted.

3. Make new friends.

And I’m not talking about the Girl Scouts song. All kidding aside, volunteering is typically not a solo activity. It’s a chance to meet new people, to get to know your coworkers better, to learn from others and their own experiences in giving back, and to expand your network in general. Okay, so maybe it kind of is like the Girl Scouts song.

4. Better your overall health.

Again, science says so. Those that volunteer tend to have better health, including lower rates of depression and a longer lifespan. This again is linked to having a purpose and a set of physical or social activities.

5. Become a leader.

Volunteering gives you knowledge. Purely because of the expertise you get from your experiences. And, knowledge is the first step to leadership skills. If you make it a priority for your business to give back, think about giving employees the opportunity to share their experiences with others on your team (aka be the leader for a specific cause).

As we’ve seen, many companies are beginning to implement employee volunteer programs. At Decisely, we offer 16 hours paid volunteer time to help our employees get out there and make a difference.

Remember, volunteering is more than reputation or bottom lines. Giving back is a great way to become inspired, meet new people, or discover a new passion. You may be giving back, but you are getting something in return, too.

Chances are, you’ve heard the term time management. And even bigger chances are, we know at least one person (including ourselves) that has said something along the lines of “If only I had more time!” We probably all understand the premise of time management, but sometimes we struggle with implementation. Easier said than done, as they say. And, if you are a small business owner, you are your own boss, so understanding time management is crucial.

Here’s the thing: time does not have to be a limitation. It is in your control and in a sense, you can create the time you need. So here’s what you need to know:

Rock Around the Clock

Not so much the Bill Haley song, but you can be far more aware of the “clock”, so to speak, if you make a schedule. And not a mental schedule. Actually make one. Type it up, write it out, spell it with ABC blocks, whatever works for you. Studies show that over 65% of us are visual learners, and we will remember more if we actually see the thing we need to remember. Not only that, but a written schedule allows you to see where you are truly allocating your time. Are your activities producing viable results? Where can you improve? Where can you give yourself a break? Once you master this, you really will be able to rock around the clock. Swing dancing included.

Step Away from the Email

Seriously. Stop it.

Yes, keeping up with your email is important. You need to communicate with your team, your customers, etc. But what you do not need is to be continuously interrupted by new messages. Instead, schedule 30 minutes for email only. Use this time to not only respond to messages, but to prioritize and flag emails in order of importance and relevant folders. That way, you free up more time for other activities and the important emails don’t get lost in the shuffle of things.

Put ‘Make a To Do List’ at the Top of Your To Do List

This is somewhat similar to writing out your schedule, but a schedule can include meetings, appointments, birthdays, etc. Your to do list is purely what you need to do. What you need to focus on. What goals do you want to accomplish? Daily tasks? A to do list also helps to optimize your time because you can see what’s important to you in very concise (but specific) terms. And hey, in this case, even a Post-It will suffice.

Take a Break

“But I’m too busy to take a break.” That might be an ingrained and somewhat automatic response that most of us go to. At this moment, this article is probably not your only window or tab open. I’d be willing to bet a stack of colorful Post-Its on it. But breaks actually make us more productive. There is such a thing as “being in the zone,” but sometimes, the zone comes to an end. You hit big, orange cones and become unfocused, frustrated, you know the drill. So here’s your chance – take a break. Especially if you find yourself stuck: on an idea, a post, a draft of an email, anything. Let your brain enter its diffuse mode (its relaxed state). Giving yourself 10 minutes here and there to let your mind wander can actually help spark new ideas. Including new swing dance moves.

You’re on your way to growing your business. Kudos and high fives all around. Bonus points to you. Expanding your team is a pretty big, not to mention, an awesome step. The next questions to answer are: Who you should hire? and Where to find the best talent and prospects for your business?

The positions you should focus on first will vary depending on your business and the industry in which your business operates. While we all want this to be an easy process, over 60 percent of small businesses state that they have a difficult time finding the best talent for the necessary positions. Read on to gain a few tips to help you find the best people in terms of skills, culture fit, and retention.

Typically, small businesses succeed in growing with employees that are flexible and are self-starters. With smaller teams comes fewer resources, and that could also be an attraction for potential employees. Plenty of projects with fewer people also means employees get to wear multiple hats and gain far more experience. A high potential for growth is a huge factor that people consider when looking at open positions.

Before we get ahead of ourselves though, let’s start with the job description. After all, that’s how you’re going to find your candidates. With the job description, be sure to include any and all desired qualifications and skills. Not to mention if such things like travel or being bilingual are a part of the job. Overall, the job description should be specific, but simple. Provide a taste of your organizational culture and follow a bullet point structure to make it easier to read.

Where do you find candidates?

Try utilizing social media, mainly LinkedIn. LinkedIn is a perfect place for recruiting prospects. Not only can you post targeted ads, but you can also handpick the candidates you want to interview as you receive them. Using LinkedIn also gives you an opportunity to communicate your brand and culture.

There’s also the tried and true method of staffing agencies, which takes care of a lot of the work for you. Most staffing agencies will manage stuff such as background checks and initial introductions.

A unique one to try (and really the best place to start): your own personal network. Ask mentors, friends, industry colleagues, anyone you trust, to see if they have recommendations. Using this tactic is beneficial as some of the prescreening process is already taken care of for you. One thing to keep in mind is to not over-exhaust your personal network as you do not want to ignore other external options. Whether its your own network, agencies, or social media, these methods are great outlets to ensure you can get the best of the best.

A word of caution, you may want to avoid the bigger job boards such as Monster.com as you can be bombarded with resumes. And with so many to sort through, you may quickly realize that this may not be the wise way to go as you start out.

In a competitive job market, it is important to hire right. Knowing where to find the best candidates for your business ensures your company will continue to scale and succeed. And by following the above steps, you can rest assured you’re heading in the right direction.

Early last month, small businesses lost $1.3 million due to a scam pertaining to OSHA labor law posters. So what is OSHA? Those simple four letters are short for the Occupational Safety and Health Administration. For businesses of any size, OSHA requires the display of labor law posters. And, typically these are updated every year based on new laws or regulations pertaining to minimum wage, etc.

The backstory on the scam in a nutshell is this: small businesses received a call from people posing as government agencies, in which small business owners were encouraged to purchase occupational safety posters for upwards of $180. Luckily, the Federal Trade Commission (FTC) found out and is nipping this in the bud. For any small businesses that did purchase a fraudulent poster, the FTC is working on getting said businesses refunds.

What a mess, right? We don’t want you or your organization to be scammed – here’s how to avoid potential OSHA scams in the future:

First things first, what are some signs of OSHA scams?

If you receive a call or email stating that your current labor law and occupational safety posters are outdated
If you receive a call or email stating that your business is not in compliance and you run the risk of severe fines if you do not take action (AKA spend your money on new posters)
If you receive a call from a so-called government agency, but you feel like you are being threatened on the call

While the scam above occurred very recently, the unfortunate reality is that these scams occur more frequently than we’d like to think.

How to avoid being scammed:

Verify – this is mainly for someone “selling” posters door to door; ask to see someone’s ID if you suspect something’s up
For emails and calls you may receive, you can also easily do research on OSHA’s website to see if any laws or regulations actually did change in your state
For emails and calls you may receive, research the company selling the posters. The Internet is full of extremely handy and helpful information. A simple Google search can go a long way and always use your best judgement.

The overall point is this: you should never feel threatened when you receive any form of communication from a legitimate company. Not to mention, OSHA workplace posters can be downloaded for FREE. So, ya know, that should make things even easier. And lastly, we all can help stop these scam artists – if you suspect that someone or a company is impersonating OSHA, contact OSHA at 1-800-321-6742.

Not everyone is a fan of change, but sometimes change can be a good thing. And sometimes change is a necessary thing. Especially when it comes to healthcare. Life happens, we know. So just in case something comes up and you have to make a change to your health insurance plan, here’s how to know if you qualify for special enrollment:

For starters, the two terms you really need to know are open enrollment versus special enrollment periods. Open enrollment is that special time of year where you can enroll or switch healthcare plans. Unlike Christmas, open enrollment dates tend to change from year to year, with many typically falling between November and January. To note, Medi-Cal and Medicaid (free or low-cost health coverage for those that have limited income) have open enrollment all year long.

A special enrollment period is any time outside of that open enrollment period. Seriously. The key thing to remember here is that you are only eligible to get or switch coverage for specific life events.

What are these special enrollment life events?

Normally, you cannot make changes to your health plan outside of open enrollment, unless you undergo qualifying life events. Life events include the following: change in income (or change in your job, usually referring to losing job-based coverage), moving to a new state, and changes in your family composition.

Typically, if you have an event that qualifies you for special enrollment, you have 60 days from when the life event occurs to change your healthcare coverage.

Let’s go into a few more specifics:

Loss of Job-Based Coverage

Loss of job-based coverage qualifies you for special enrollment if any of the following occur:

Your employer no longer offers benefits
You leave your job (either if you were fired or by choice)
Your COBRA coverage expires

Changes in Family Composition

You are also eligible for special enrollment if your family size changes:

You get married
Have a baby or adopt a child
You become legally separated or divorced from your spouse (and you lose health insurance because of it)
If there is a death that makes you ineligible for your current health plan

Changes in Residence

Apart from moving to a new state, other household moves also qualify you for a special enrollment period:

If you are a seasonal worker, you qualify if you have to move to and from different places based on your job
Moving to a new home
If you are a student, and you move to or from the city or area you attend school

The other big qualifying event is if you become a U.S. citizen. For other questions, our federal government offers a pretty handy hotline that will solve any additional special enrollment questions: 1-800-318-2596.

To get off the ground, every small business requires financing. But sometimes it’s necessary to seek outside financing. Enter business loans.

When or if the time comes, we want you to be prepared with what is needed so that you can keep your cash flow, well, flowing. So here’s what you need to know:

If you need a loan, first ask yourself why? Is it to manage payroll? Day to day expenses? Growing your team? Once you have that question answered, then it’s all about knowing the criteria that banks and lenders look for when looking at loan applications.

Criteria

Good business credit history
Good personal credit history (lenders typically look for credit scores in the 700 to 800 range)
Have a legitimate business purpose for the loan (as silly as it sounds, don’t use the money for things such as gambling). Legitimate purposes include purchasing real estate for your business, new equipment, or investing in software or hardware relevant to your business
Debt to income ratio (debt payments should not exceed a third of your monthly income)
Previous cash flow reports (the higher your operating margin, the better)

Once you know you fit the criteria, be sure you’ve done enough analysis and research to understand the amount of money you need. Underestimate and you may run out of working capital sooner than you expected. Overestimate and you run the risk of having your application rejected. But the way to get things juuusst right? All it takes is putting together a budget that includes the most relevant financial projections. That way your credibility stays intact and you avoid any issues in obtaining your loan.

Now it’s time to figure out what type of loan is best for you.

Types of Loans

Short-term cash flow loan: ideal if your business needs a quick injection of cash to pay the day-to-day expenses
Line of credit: this works like a credit card; you borrow a certain amount of money but only repay the money that you actually use. A line of credit is good for covering payroll or if you need a safety net
Accounts receivable financing: this is the perfect solution to take care of any unpaid invoices
Term loan: your go-to if you are paying off fixed payments (e.g. a piece of equipment)

Have your loan picked out? Now what about your lender?

Types of Lenders

Commercial banks: no mystery here – traditional banks for traditional loans
Region specific lenders: these are banks and lenders whose goal is to improve the economy in various cities or states or industries
Nonbank lenders: faster and higher flexibility, these loans have a fixed rate for small businesses and charge simple interest
Alternative options: crowdsourcing or crowdfunding your projects or your business through sites such as IndieGoGo, Kickstarter, and GoFundMe

Once you have all of your ducks in a row, or as I should say, your paperwork in line, the last part of your loan application entails yours and any other business owner’s resumes plus your personal financial information as well as your tax returns over the previous 3 years. And then it’s as simple as sending your application over to your chosen lender and exhibiting a few weeks’ worth of patience. Most applications take up to 4 weeks to review, but if you go through the steps outlined above, you should be on your way to getting the best loan with the best terms possible.

When you think of a company with an awesome organizational culture, what comes to mind Disney? Zappos? Twitter? (I hear the tweety-birds have rooftop meetings.) Whatever your preference, all three companies dedicate time and resources to build a culture that is not only great, but lasts as they scale.

Company culture is important. Period.

Culture sets the tone for employees to operate and interact – it is the personality of your business. As they say, Rome wasn’t built in a day. And, the same is true for your organizational culture. Here are 5 tips to help you build and grow a winning organizational culture.

1. Leadership is everything.

You know ye old adage, lead by example? Truer words could not have been spoken. Everyone (esp. leadership) is the embodiment of the company. Ask yourself: what do you want your company to value? How important is transparency? How important is fun? Customer success? Employee success? You get the picture. Whatever your answers are to those questions, be sure to act on those answers and communicate them to your employees.

2. History doesn’t have to repeat itself.

Unless you want it to. What I mean by this is that you can draw on your past experiences to determine what works and what doesn’t. Garner feedback from others, and in doing so, you will see what cultivated success in your organization and what can be improved

3. Emphasize team building.

Now this doesn’t have to be super cheesy – we are not talking about sitting in a circle singing Kum-bi-ya (unless that works for you, of course). But, team building is important. Chances are you won’t have one person that is awesome at everything. Let alone one who can handle everything for the company. That said, employees rely on one another, and should be comfortable doing so. Whether it’s planning a one-hour weekly activity or having quarterly retreats, let employees spend time together to increase team cohesion and effectiveness.

4. Encourage open communication.

Regardless of your organizational type (e.g. matrix, lattice, flat) employees should feel comfortable providing relevant feedback and ideas. Plus, open communication fosters an environment of trust. Shoe and clothing company Zappos clearly states that they have a culture that thrives on “open and honest relationships.” And, with hundreds of millions of dollars in profits, clearly this kind of culture is paying off. No pun intended.

5. Hire right.

Just as it is important to lead by example, it is equally important to rely on employees when carrying out that example. Employees are your culture advocates. They will support, promote, and believe in it. Ya know, the stuff that makes your culture f-ing fantastic. SO, all the more reason to hire employees that fit with your company values.

Organizational culture is a BIG differentiator for your business. It will not only attract and retain employees but can also get you noticed. (Again, think about all of the stories you’ve read about Disney, Apple, Google, etc, etc.) Whether your company is starting up, already running or in need of a change, use these tips to help your office become the happiest place on earth. Wait, Disney’s already claimed that one. Second happiest is good, right?