When you’re starting a business for the first time, be it online or offline, there are a number of essentials you need. First, you need a business plan to know what you’re doing and what you’re going to charge, then you need a brand including a logo, fonts and color designations, a website to showcase your services and an operations plan to handle the business. This operations plan would ideal cover how your process transactions and the accounting system your business will use. Like most industries, the accounting software industry is highly saturated with more options than you likely know what to do with. Not to worry, we’ve pulled together 4 accounting tools you’ll want to look into for your business.

Quickbooks

The most likely choice on the list and the most popular is Quickbooks. This household name accounting software offers a desktop or online experience, and handles nearly everything for you. You can process invoices, collect payments, set up new customers, leverage it as a CRM, and look to it for all of your year-end tax documents.

Because of its popularity, Quickbooks comes with a price. However, the price is well worth it if you utilize its features to the full extent.

FreeAgent

A lesser known alternative to Quickbooks is FreeAgent. This accounting software is from the UK and is packed full of great accounting and bookkeeping features. You’ll be able to invoice your customers, log journal entries, synch with your bank account and more. And because it is not as well-known, it is substantially less than Quickbooks.

Lease Accounting

Specifically used for businesses that have to lease their assets, this lease accounting system is likened to an Excel sheet, but with a lot more features. This type of accounting system enables businesses to be compliant with specific IRS codes like ASC 842 and GASB 87. While it is easy to assume a customized system like this is a bit more, it’s important to get a quote for exactly what you need.

PeachTree Accounting

Known for its use in advertising agencies and digital marketing businesses, PeachTree accounting is a full-fledged version of Quickbooks that understands various categories of digital marketing. For any freelancer just starting out, this system will get you set up with invoicing, recurring payments, subscription services and more. It’s specific to marketing and advertising businesses, and there has a cost to it. However, depending on your accounting needs, it is the most likely option to get the job done.

Outsource Accounting

As a completely separate alternative, you may wish to outsource your bookkeeping and accounting to a full-service firm. The difference with this option is that it will be completely hands off for you. An accounting firm will take care of everything for you and simply review the numbers with you.

As a business leader, have you been contacted by a company called Global Business Leader Mag? This company claims to offer an award in its publication for the cost of $2,500. The company claims to be based in Atlanta, but has a handful of red flags.

Global Business Leader Mag Is a Scam

First, a gentleman named Mark Linn will contact you claiming you have been selected as one of the up and coming businesses in your field. Due to your success, you can be featured on the company’s website and its print magazine for $2,500. Sounds great, but quick research into this scam shows it is all fake.

Publication on Twitter

As part of the $2,500 fee, your business will be featured in a Tweet from the magazine. However, the Twitter profile has less than 1,000 followers and 90% of them are fake.

Publication on Facebook

Just like Twitter, the magazine has a Facebook profile that is filled with fake users and likes. For $2,500, you will have a Facebook spotlight to these fake users.

Publication on LinkedIn

Next up, your business can be featured in a post on LinkedIn. While the company’s LinkedIn profile boasts just over 1,000 users, there is not a single individual tied to the business profile. Normally, when you look at a business’s LinkedIn profile, you’ll notice a CEO, CFO, staff, etc. This is a major red flag and answer to the question, is Global Buinsess Leader Mag a Scam? 

Where Is Global Business Leader Mag Actually From?

Although the business claims to be from Atlanta, it’s actually operated out of India. Those who have been contacted by phone indicate it’s yet another scam based out of India as the company’s staff all carry thick accents. Another user on Quora also confirmed Global Business Leader Mag is from India.

Should You Work with this Company?

Web Biz Trends can only provide information about scams happening online and offline. We would advise you not to work with Global Business Leader Mag and to not spend $2,500 for its fake services.

Finding the right kind of service for anything you need is easy with the help of the internet. With sites like the BBB, Yelp, Facebook and Google, the right help is at your fingertips. But who can you know to trust? And how do you validate their service? With some industries like IT and tech support, there are a few things to look out for that will tell you the service provider is a professional.

Start with a Provider’s Website

If you’re in the market for someone who works in tech support, they should have a website where you can find their information, services offered, pricing and testimonials from past customers. If a tech support provider is relying on a 3rd party website like Facebook or Yelp rather than having their own custom developed website design, they are likely not very invested in their own brand. Just think, how trustworthy of a company would Nike be if they only had a Facebook page instead of a real website?

Look for Reviews & Testimonials

When a business, be it a tech support business or anything else, provides great work for its customers, those customers are likely to leave reviews. A good tech support company will feature reviews and testimonials to show future customers what kind of work they provide. You can find reviews on the provider’s own website or on review sites like Facebook, Foursquare, Yelp, Bing Local, etc.

It should be a red flag if an IT support company doesn’t have any reviews at all. However, if a business is brand new, they may be in the process of gaining new business and will later focus on reviews.

Look to Google

A trustworthy and reliable tech support company should rank well in Google search results. This is usually a good sign that a business provides great support for its customers and is generally trustworthy. Head over to Google and search your local area + tech support or whatever service you’re in need of to see what kind of businesses show up. You’ll want to click through a few businesses, get to know them and then reach out.

Don’t Be Afraid to Ask for References

Anyone handling your technology needs to be trustworthy. Therefore, it’s completely appropriate and expected that customers will want to ask for references. Just like a job interview, you are hiring a tech support provider and need to know their work history and ability to fix critical issues. Any qualified IT or tech support service provider will have at least 2-3 references ready to give you right away. If not, consider it a red flag and move onto someone else.

Other Considerations

If you’re dealing with fixing computers or cell phones (like a cracked phone screen), there are several online tutorials and videos on YouTube if you’re brave enough to perform DIY tech repairs. If not, you won’t regret spending a little money on a tech support service provider.

Staring a business may be a fun venture for entrepreneurs, but it comes with many considerations as well. You have to know exactly what your product or service is, understand who your audience is and check off all of the legal boxes when starting the business. While you can figure out the details with your products, services and the audience you serve, you’ll need to hire an attorney to help with the legalities of establishing a new business.

What Does a Business Attorney Do?

The most asked question of business attorneys is what exactly they do. First and foremost, they exist to advise on any ill-mannered legal business dealings. Secondly, they help entrepreneurs establish properly with the right type of business entity, the right tax category and business licensing.

What Are Business Entities?

Every business must be established as a sole proprietorship (most common for entrepreneurs), limited liability corporation (LLC), s-corp or c-corp. Without a business entity filed in your local region, your business doesn’t really exist in the eyes of the law. This means if you were to be sued by an unhappy customer, you wouldn’t have any legal ground to fall back on.

Why Do You Need a Business License?

Every incorporated business entity must register with the local county, city and/or state. This is mostly used for tax purposes, but again, it helps if you were to ever be taken to court by a disgruntled customer.

What Does a Business Attorney Not Do?

There is a common misconception that a business attorney will advise on tax strategy. According to the business lawyers at Scheid Cleveland in Denver (https://www.cololawyers.com), the number one thing they are asked is if they can help with taxes. Their attorneys will advise on the right tax category a business needs to file in (based on their business entity), but they do not advise on tax strategy. If you’re looking for ways to save money through taxes, you’ll need to reach out to a tax strategist.

Additionally, most business lawyers are not trial attorneys. They handle any sort of paperwork that needs to be filed with the local government, but most won’t go to court for you and your business. You can easily find a business litigation attorney, but it’s not a core offering from most business attorneys.

What Else Can Your Business Attorney Do For You?

In addition to helping establish your business with the local government, your business attorney can serve you in a number of additional ways.

Contract Review

Have your attorney review any contracts or agreements you send out to clients. It’s important to have all of the legal details buttoned up as much as possible and to avoid future court appearances.

Collections

Your attorney can work with you to set up a collections program for customers with past due bills. Having the strong arm of the law on your side always seems to help customers pay their bill.

Employee Disputes

As your business grows, you may reach the point of hiring employees. In some cases, an employee may choose to sue you over one thing or another. It’s important to have an attorney at your side to help with these disputes and reach a settlement with the former employee (if necessary).

As you can see, a business attorney serves many purposes for all types of businesses including entrepreneurs and start up organizations. If you don’t have a business attorney as part of your organization, it’s highly recommended.

With much of the world going online in the last year, businesses saw an influx in new traffic from a variety of places like Google, Facebook, Yelp, etc. As these businesses acquire new customers, they also acquire reviews from those customers pertaining to their experience with the business. For this reason, it has become even more important for businesses to stay on top of their reviews and respond to customers in an immediate fashion. The last thing a business owner wants to encounter is a negative experience with a customer who is left waiting for a response.

Your Reputation Matters

In this day and age, people are going online to find reviews about businesses before choosing to work with them. Most customers will either turn to Google My Business, Facebook or Yelp to look up experiences others have had with that business. This means as the business owner, you have to be active on these profiles and respond to these reviews as quickly as possible.

Do You Handle Your Reviews?

Out of 10 small businesses interviewed, 60% claimed to ignore or not even know they had reviews online. A quick Google search of your business name + reviews will show you exactly what customers are using to decide if they want to hire you. This makes knowing where your reviews are being left a critical component of your business’s reputation.

So, what channels do you need to be paying attention to?

Yelp

While it’s commonly associated with restaurant reviews, Yelp is actually a great place for a variety of businesses to acquire reviews. Head over to Yelp and look at your specific category to see what competitors are already listing and acquiring reviews.

For example, this insurance agent on Yelp created a profile and regularly receives reviews on his profile, to which he can quickly respond to. This lets the customer know they are important to the business and are more likely to be hired again.

Facebook

Everyone and their grandma are on Facebook, and these people are also leaving reviews about local businesses. Make sure you have a profile for your business built out so you are able to 1) be found by people on Facebook and 2) be able to interact with customers who have left reviews.

Google My Business

Notably the largest review network online, Google My Business is likely the first destination for customers to leave a review. Nearly 80% of the internet uses Google and it’s likely they will go here to leave a review, either positive or negative. Like other profiles, it’s imperative for business owners to create a profile with their information, contact details and any other pertinent characteristics about the business.

In this example, we see where a personal injury attorney in Denver created a profile with information about his firm and is now collecting reviews from clients.

Every business should have a profile on Google My Business no matter the industry they operate in.

Specialized Review Services

Aside from the major three review networks listed above, you’ll also discover customers leaving reviews on more industry-specific websites. These may include Zillow or Trulia for real estate agents, Judy’s Book or Home Advisor for homes services professionals and Avvo for legal professionals. If you find yourself in a specialized industry, you need to be sure you have a profile built out on these kinds of sites.

Are Review Websites Free?

Most sites that offer reviews from customers are free to the business owner to use. This helps generate content for the review platform and helps the local community. These platforms of course have advertising tools as well, but any business owner can get started on a review platform for absolutely free.

Follow Up with Customers

Although it may seem somewhat difficult, the number one way to increase your reviews is simply to ask. Consider creating a text message or email program that will automatically send requests for reviews as soon as the interaction with your customer has ended. Not only will the experience be fresh on the customer’s mind, it’s also convenient for them.

If you have recently started managing your online reviews, we would love to know how it’s going in the comments.

If there’s one thing we know about the field of SEO, it’s that changes happen all of the time. From differences in how Google styles its search engine results pages to how its algorithm sorts through millions of web pages on the internet, there is a lot going on at all times from Google. And if your website is actively pursuing an SEO strategy, just know that you’ll be at the forefront of understanding many of these changes and how they impact your website.

Below is a list of changes that have occurred with Google’s algorithm from SEO expert Jeff Romero:

Pagespeed Update

Google’s major focus in 2021 has been around the user’s experience. Because Google wants to provide the best experiences for its user, you need to provide a great experience for your users. And providing a great experience means having a fast website too. For this reason, many web developers and SEO professionals focus on improving their sitespeed to be as fast as possible. Tools like Pagespeed Insights (from Google) or GTMetrix provide webmasters a letter grade and numerical score (on a scale of 1-100) of what is slow on their websites. Webmasters can then take this information and update their sites accordingly.

If you’re wondering if you have been hit by a pagespeed update this year, plug in your domain into gtmetrix.com to know where you stand. If the site is slow, you’ll find a helpful list of ways to overcome the slowness.

Reviews Update

If you’re active in e-commerce and take part in the world of online shopping, be careful with the way product reviews are displayed on your website. Most SEO professionals are anticipating an update from Google in March that focuses on the content of reviews. Not only should you have review sections of product detail pages coded correctly for SEO, but the actual content from customers is important too. Google is focused on e-commerce websites that have spammed review sections or try to manipulate their reviews in some way. If you allow customers to place reviews on your site without verifying a purchase, it’s recommended to review the setup to ensure you are not getting spammed.

Core Algorithm Updates

Aside from the pagespeed update and the reviews update, SEOs should anticipate a couple of core updates. These types of updates change the way the base Google algorithm crawls information on the internet. Here is where you’ll find the biggest swings (both positive and negative) for a website. Core updates are released a few times a year and are slated to have major impacts on websites.

You can’t really prepare for a core algorithm update and Google won’t disclose the details of the update. However, it’s best to make sure your website is technically sound at all times.

Stay Aware

The best way to stay aware of Google’s updates and various changes is to follow SEO professionals on Twitter, discover information being shared on SEO blogs like jeffromero.info and follow Google’s official webmaster’s YouTube channel.

Two of the most prominent types of digital marketing on Google come in the form of search engine optimization and pay per click advertising. They’re both very different and have varying sets of success metrics, and both are important businesses both online and offline.

It’s important to know the differences between the two different strategies so you know exactly where your marketing budget is goin.

What is Organic Search?

Organic search refers to the natural listings found in Google and Bing. When a user searches for something on these platforms, they are presented with a set of non-paid results. This is what we refer to as natural or organic results. When a business invests in an SEO strategy comprise of technical SEO, content and earning referring links on related websites, they are working to make their pages show in this set of natural, non-paid set of results.

Why Choose Organic Search?

The biggest key with organic search is that you will not pay for clicks. Every time someone searches a keyword or phrase related to your business and clicks on a result, the click is essentially free. It takes a bit of elbow grease to get the listing to show in this result set, but once you are listed in this section, you’ll will stay there for the foreseeable future and benefit from free clicks.

What is Paid Search?

Paid search refers to the advertised listings on Google and Bing. When a user searches for a keyword on these platforms, they are presented with a set of paid results at the top and at the bottom of the page. Every ad that is shown in either of these sections is paid for by an advertiser to show here. And of course, when a user clicks on the listing, the advertiser is charged.

Different Types of Paid Search

As you will be able to see from a crowded Google search engine results page, there are multiple types of paid ads in the result set. You’ll first see text ads at the top and bottom of the page, and if you are searching for a product, you’ll see a section of shopping ads with product titles, product images, pricing information and reviews. Additionally, for local advertisers, you may see an ad showing in the 3-pack of localized results. Try searching “Denver SEO Company” for example and you’ll notice there is an ad displayed in this section.

Why Choose Paid Search?

The number one reason to invest into paid search is to acquire traffic now. Unlike an SEO strategy, a paid advertising campaign will get you listed on the first page of Google or Bing for your targeted search terms right away. You’ll have to pay for each click you receive, but you’ll be getting traffic for your website right away.

Where Does Social Media Fit In This?

Although Google tried its hand at social media with Google+, the platform is driven by search. It’s important, especially for an SEO company, to have profiles and information built out on important social media platforms, but it won’t necessarily improve organic or paid search.

Securing a Branded Result Page

The one area where social media does impact SEO is by having a fully branded search engine results page. This means when someone searches for your business, they will be presented with a variety of different properties about your business. This should include a Facebook page, a Twitter page, an Instagram (if applicable to a business), a LinkedIn company page and even a Yelp page.

Check out your brand result page by searching your company name in Google.

What Should You Do?

It’s important to work with a digital marketing company who can evaluate your current needs and choose the right strategy with you. For quick traffic, choose paid search. For long-term, sustainable traffic that takes a bit of time to acquire, choose organic search.

Most importantly, you want to be active on one or the other to increase visibility to your website.

The last year showed us just how vital technology is to small businesses. A lot of businesses had to shift to using Zoom, Google Hangouts or WebEx to conduct meetings with customers and their staff due to the pandemic. Throughout this process, many business owners ran into complications and IT issues with trying to use various web conferencing platforms. As a result, businesses turned to IT service providers to help.

As an essential component of successful businesses, having an IT person you can call for help is a must. For businesses still struggling with their information technology needs, there are a few things to know before hiring just any IT service provider.

Check Online Reviews

As the number one recommendation for business owners who find themselves in this spot, check reviews of an IT provider you are interested in working with. It’s critical to see reviews from real customers the IT service has previously worked with. If you notice a lot of negative reviews and ratings, it’s a good indication to avoid that business altogether.

Be sure to check reviews from a number of locations too. Look for reviews on Google My Business, Yelp, Merchant Circle, Chamber of Commerce and Nextdoor (if this is available in your area).

Determine A Realistic Budget

Computer support and IT services are costly. Whether you are hiring someone on an hourly basis or monthly retainer, you’ll need to determine a realistic budget for the professional. Plan to spend a minimum of $75 / hour for general IT support. If you require support for something a bit more complex, you’ll be looking at $100 to $150 an hour. Just like an attorney, an IT specialist charges you as soon as you are “on the clock” so be sure to manage their time wisely.

Check LinkedIn

Just like checking online reviews for the service provider, you’ll also want to scope out the professional’s LinkedIn page. LinkedIn is essentially an online resume and will show you who the individual has worked with. If they have limited experience, you may want to find another professional. Try to find how many connections the individual has and how active they are on LinkedIn. If they are actively sharing articles and information related to IT services, it’s a safe bet that they are current on the industry and will be a good hire.

Hire Local, Always

Most computer support requires a hands-on person to do the job. While services like Fiverr and Upwork exist and you’ll find plenty of IT providers, it’s important to choose someone local who can visit your office in person. A local service provider like Gravity IT Solutions will be able to come in your office or business location, diagnose any computer-related issues and solve them for you. If you hire an online IT expert, you’ll likely be put in a queue and they will have no way to physically fix your problem.

When Is It Time for a Full-Time Employee?

Any business owner knows it’s less expensive to hire an outside consultant on an hourly basis. However, if your consultant is working 100+ hours a month, it may be time to consider bringing someone on-board on a full-time basis. While you’ll need to pay a salary and benefits, you’ll have an IT expert in-house and at willing to work on just about any issue.

If you recently hired an IT partner for your business, let us know in the comments how it’s going.

Although we had one of the roughest years ever for our economy in 2020, certain cities in the United States experienced major changes. And some of these economical changes occurred in a positive way.

From Miami to San Francisco, various business types thrived and helped improve the economy. Things still aren’t where they were before the pandemic began, but some business types are finding ways to succeed.

Of the improved local economies, Denver, CO is showing growth in 4 distinct business types.

Personal Injury Law

People drove less in 2020, but accidents still happened. Collisions involving automobiles, motorcycles and pedestrians continued to grow throughout the Mile High City despite statewide stay-at-home orders. For this reason, work for personal injury lawyers in Denver grew too.

One personal injury attorney for CO Injury Law told us,

Automobile accidents increased during the pandemic. Many people quarantined and drove less compared to previous years, but we still identified an increase in vehicle collisions and automobile-related deaths in 2020.

Chiropractors

As suspected and related to car accidents, chiropractors experienced an increase in work too. But many chiropractors noted they found growth in existing patients who found more time for routine, weekly visits. As people have more time to address their pain management, chiropractic care has been integrated more into health routines.

Chiropractors in Denver had limited exposure to patients during the first few months of the pandemic, but quickly figured out ways to make their practices clean and safe to accommodate patients.

Business & Contract Law

Contrary to many cities in the United States, a lot of new businesses opened their doors in 2020 in Colorado. Because of this, lawyers who operate in business establishment law saw sizable growth. These Colorado business lawyers establish entities as proprietorships, LLCs or corporations and file all the necessary paperwork with the county clerk.

And as expected, courts were also busy filing paperwork on their end. New business licenses will likely continue into 2021 as more Denver-based businesses open, keeping attorneys occupied.

Web Design & SEO

Lastly, businesses who operate in the digital space experienced exponential growth in the last year. Business owners had more time to review their websites and online marketing plans, and came up with a variety of changes. Denver SEO businesses were able to maintain growth during the pandemic by bringing on more and more businesses online.

Likewise, web designers were busy creating new websites for businesses or handling maintenance for them. The average number of managed hours by agencies in Denver went up by 15%.

Keep An Eye Out In 2021

With the recent swings in the market, it’s reasonable to think real estate and mortgages will experience a lot of changes in the coming year. We’ll likely see more businesses develop a digital presence too, having websites built and pursuing new online market tactics to accommodate a new way to do business; this will be especially true of restaurants adopting new delivery methods.

Finally, it’s also worth noting medical positions are on a steady rise with the state of Colorado needed more nurses than ever before. This trend will of course continue in the new year.

What business types have you seen thrive in your local area? Let us know in the comments.

You’ve worked hard your entire life and now it’s time to sit back, relax and let your money work for you. In what we would consider a turbulent world, the stock market and real estate sector have seen tremendous growth as of late. A lot of people, including senior citizens and retired individuals, are taking full advantage of the current state of the economy and thriving with their investments.

Investing In Real Estate

Any savvy investor knows real estate is one of the best things to invest in. Whether buying property for yourself, flipping a house or renting out a home, real estate offers an abundance of wealth with little upfront capital. For seniors specifically, you’re likely in a situation where your home is paid off and you have the capital to invest in another property. Or you’re living in a 55 and older community and have the assets to afford investing into another property. In either situation, real estate should be your go-to investment.

Rental Properties

Single family homes and apartments have the best value to turn around and rent to tenants. You can easily find FHA, conventional or VA loans to provide a competitive interest rate and only be required to put down a few thousand dollars. Once the property is ready to rent, you’ll quickly recoup your initial investment and then profit from the monthly rent. Your only monthly expense at that point will be for a property management company like Home River Group.

Townhouses & Condos

Townhouses and condo complexes are another investment gem. Here you will likely be able to purchase multiple properties and then profit even more. Keep an eye out for new construction condos and townhouses as they have the most potential for return.

With a little upfront investment, you’ll be flush with cash no time.

Stocks, Bonds or CDs?

Wall Street has been booming since the onset of the pandemic. Large tech companies like Apple and Tesla have grown their stock price through the roof and many investors are benefitting. For retired seniors, having a wealth manager who is on top of the market is key to your success. A wealth manager should be able to advise you on the best strategies for stocks, bonds, certificate of deposits and any other investing options you should be taking advantage of.

Certificates of Investment

A traditional broker with Edward Jones or Charles Schwaab will advise you on the stocks and bonds they know the best. But did you know you could be investing in a fixed rate fund with little volatility? Certain investment firms offer a Certificate of Investment fund with tremendous returns. The required upfront capital is a bit more, but the returns will get you exactly where you want to be.

Don’t Sleep On Tech Companies

The pandemic has proven that technology isn’t going anywhere. Big companies have improved their technology throughout the pandemic to have more stability and be able to offer products to customers in more efficient ways. Just think how food delivery businesses like DoorDash and GrubHub have grown their services in the past year. The good news here is that it offers you a chance to benefit from a company’s technological advancements.

If you’re working with a financial advisor, ask them to identify high growth tech companies you should be investing in.

Where To Start

If you’re a retired senior with money burning a hole in your wallet, real estate and the stock market are where you will want to turn. Start researching properties for sale through sites like Zillow or The Lynne Koy Group and make a list of properties you would consider investing in. Be sure to schedule a meeting with your financial advisor and determine where you should try to invest in the coming year. While we recommend investing in tech companies actively growing on Wall Street, your advisor may suggest otherwise.

If you started making investments in the new year, let us know how it’s going in the comments.