For many Americans, starting a small business is an exciting experience, and potentially financially rewarding. However, when opening a new company, owners are understandably so focused on getting off the ground that they often overlook some basic considerations that can have a major impact on the company's value down the road. Below are the five most common mistakes that small business owners make, as seen by individuals who value or appraise businesses.


1) Short-term is short-sighted

Although it can be tempting to make decisions that will save money in the short term, it is important for business owners to consider the long-term growth of their companies. Rather than saving a few dollars today, owners need to think about how to sustain growth and drive value tomorrow.

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So much goes on in the world of small business, that it is impossible for one outlet to cover it all. That's why each week we look comb the Web in search of interesting small business tips, guidance, and trends that can help you increase productivity, cut costs, engage customers, and grow your small business empire.

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It is time to nominate your favorite small-business owner for the U.S. Small Business Administrations 2015 Small Business Awards Week, which is in May.

The SBA is looking for owners and companies that have made contributions in their local communities, and to our nations economy.

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Many small businesses will turn to local developers when it comes to building their first business website, while others will rely on agencies, or even step up and take on the challenge themselves. Today, we want to help those who're brave enough to be building their own website.

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There is nothing wrong with having high hopes for your small business. Fulfilling a dream usually is what brings us to starting a business, and we get to decide how far and wide that dream will go.

Dreaming big is not for every small business, but it is something that many small businesses aim to grow.

With your head in the clouds…

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One of the easiest, fastest and cheapest ways for businesses to reach consumers today is via the Internet.

Digital marketing, also known as Internet or online marketing, is quickly replacing print, television and radio advertisement as the marketing approach of choice for businesses of all sizes. Recent research revealed that 1 in 4 of every business-advertising dollar is dedicated to Internet marketing.

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While children are making their holiday wish-list, families are preparing to go out of town and big businesses are expecting long lines of shoppers, there is one group of people who will be working extra hard this holiday season: Small business owners.

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With the introduction of Apple Pay, many small-business owners are weighing whether they should take the necessary steps to accept the new form of payment.

So far, most of the merchants that have signed up to accept Apple Pay are large ones, like Macys, McDonalds, Subway and Whole Foods. To use Apple Pay, businesses must have an N.F.C. reader, which is also called a contactless reader and refers to near field communications. Right now, less than 10 percent of American retailers do, according to Mark Hung, an analyst with Gartner, an information technology research firm.

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Officially a month into my new business venture, I have fully immersed myself in my company. While each day is an incredible learning experience, I have certainly felt a vast range of emotions over the past few weeks (and I am sure there is more to come).

So, what is it like giving up a steady paycheck and benefits to start your own endeavor?

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A website is now a mandatory component of a business regardless of its size. But the road to every business’ online journey is rife with costly traps that have long-lasting effects. This can be very detrimental to small businesses with limited budget for a website build.

Here are common mistakes that small businesses often make when going online:

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A major trend this year among small employers is to drop group health insurance coverage to help their employees pay for individual health insurance policies. By switching their employees to the individual health insurance marketplace, the small employers are ensuring that their employees get to choose the coverage that is best for their families. In addition, by not offering a group health insurance policy, the employers are making sure their employees have access to premium tax credits to assist them with the cost of their premiums.

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Every small business should have a basic knowledge of search engine optimization. In fact, you should almost be exhausted by the term  SEO at this point, as you have been undoubtedly told time and time again just how important it is. But unlike many trending industry buzzwords, SEO is here to stay. Why? In our web-facing world, the (already) dominant search engines are becoming the cornerstone of the internet. Standard procedure for individuals looking for information is to search first.

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Here are four ways to start making your company a truly social organization:

1. Recruit the best and brightest -- the smart way.

For companies of all sizes, hiring top talent is a cornerstone of success, but for smaller companies, finding the right fit for your team is downright critical.

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When one component goes out on an older PC, there’s a good chance more failures are coming soon. Newer software and peripherals also may not work with older hardware. If you just want to boost performance or storage capacity, adding RAM or a new hard drive will do the trick. However, if something serious like the processor, or the motherboard itself dies, it makes more sense to look at a whole new computer rather than hobbling along with expensive repairs.

Eventually a time will come that you need to get rid of old smartphone, computers, or other technology your company no longer needs.

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Although major companies like Staples and Home Depot have dominated news headlines lately, they are not the only companies at risk for cyber crime and hacking. Small businesses are far more susceptible to hackers than their larger counterparts, according to information from the National Cyber Security Alliance

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Fewer small business owners perceive themselves as successful now than did at the start of the economic recovery, a Wells Fargo-Gallup survey of a representative sample of 601 small business owners reveals. In 2009, 43 percent of small business owners reported feeling extremely or very successful as a small-business owner. By 2014 that fraction had eroded to 37 percent.
The results are perplexing.

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Internships provide many benefits. They help you meet your immediate work needs and you get to test-drive potential future employees. They boost your brand and demonstrate that you give back to the community and its students.

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What worked in 2014 may not necessarily work in 2015.

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With Christmas finally in the rearview mirror and New Years Day coming up fast, millions of Americans have some time to reflect on their year and look forward to the next one.

Sharon Goldman, a New Jersey small-business consultant who runs the website BloomGrowThrive, says entrepreneurs would do well to have an end-of-the-year talk with themselves.

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Small businesses are driving the U.S. job recovery, according to a recent blog post by Maria Contreras-Sweet, the administrator of the Small Business Administration. In her post she points out that about 7 million of the 10.9 million jobs added since the Great Recession were created by startups and small enterprises.

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The turkey has been carved, the gifts have been purchased and business owners are ready to celebrate the holiday season reflecting on a successful 2014. While small business owners may be thinking about holiday traditions, they are also beginning to focus on priorities and potential challenges ahead. Changes in technology, growing cybersecurity concerns, and shifts in the political landscape are all top of mind as small business owners enter 2015.

As the clock strikes midnight and the champagne bottles pop to ring in the New Year, three topics will be top of mind for entrepreneurs in 2015.

New Year, New Tools

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To ensure success in the new year, most small businesses don't realize that the process begins long before January 1. Instead, a lot of work goes into setting your business up for a running start when the clock strikes 12. Do not wait; start now with this list of 10 New Year Tips For Your Small Business.

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According to the Association of Certified Fraud Examiners, the median loss in small business fraud cases is $154,000. Can your clients absorb a loss like that?

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Small businesses may not be the prime target for a hack on the scale of the recent attack on Sony Pictures, but that does not mean it can’t happen. A data breach can happen to any-sized company, and for the small ones it can be catastrophic.

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A community of small business owners was polled to find out what they thought the top industries would be for next year. Technology, at 42%, is predicted to be the most successful industry in 2015, followed by health care 28%, retail 14%, and finance 14%.

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Here are 10 trends to keep an eye on as you develop your marketing plan.

1. Social media will continue to propel consumer spending. In 2014, both Twitter and Facebook began testing a new feature that will make it easy for users to buy products and services in just a few clicks.

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If you are a small business that is weighing the advantages of advertising versus public relations, there are some compelling reasons for making PR a cornerstone of your organization's strategy of growth. This might even include shifting some of your advertising resources to your PR efforts.

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What do you want to achieve in 2015 for your small business? The beginning of January is the time for New Year's resolutions, so here are my top 10 resolutions for small business owners and entrepreneurs.

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From the ever-changing technology sphere to ideas about the economy and business growth, here are 50 big ideas, predictions and trends to look out for in the small business world in 2015.

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Developing goals for the new year is always something good to do.  However, there are plenty of people out there who believe it is not a productive use of time. It is probably because they do not develop smart goals that they can actually accomplish. Below are a few helpful tips for you to consider for picking, and more importantly, achieving your 2015 small business goals!

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What do you want to achieve in 2015 for your small business? The beginning of January is the time for New Year's resolutions, so here are my top 10 resolutions for small-business owners and entrepreneurs.

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As we settle into 2015, it is the perfect time for small-business owners to reevalute old processes and implement new ideas for a happier and more productive year ahead. Here are four goals that every small business owner should set this year:

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Small business ecommerce operators may be in for good news in the New Year. We spoke with a couple of ecommerce experts to get their perspective on how the ecommerce industry will shape up in 2015, and which trends are likely to affect small business etailers.

Top Small Business Ecommerce Trends for 2015
1. More consumers shop with mobile devices

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There are a lot of articles out there telling you to go forth and start a business! But the truth is, not everyone should start a business. If more of the 80 percent of small businesses that fail had but hesitated and considered why they were getting into business, we would probably have fewer businesses and more successes in those that did exist.

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Online marketing is an industry that is constantly changing. The search engines are constantly rolling out updates and data refreshes, pay per click advertising platforms are always revealing new features and social media marketing is always evolving.

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The transfer of ownership interests in a small business should take into account all of the considerations that make each business, and especially a family-owned business, unique. The vehicle for accomplishing the transfer is usually called a buy-sell agreement. Its name barely begins to describe the buy-sell agreements various purposes. With professional advice, the agreement can be tailored to meet the objectives of each small business, whether the business is in the form of a close corporation, partnership, limited liability company, or some other structure.

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Following the most wonderful time of the year is a season that strikes fear in the hearts of many small business owners: tax time.

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One of the most popular case studies used to decry the rise of the corporation is the apparent downfall of local bookstores. With Borders now just a fond memory and Barnes & Noble living on borrowed time, it’s clearer than ever that Americans have spoken and Amazon has won—or has it?

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The more things change…the harder it becomes to do your small business taxes. Between the Affordable Care Act coming into full effect, on-again off-again on-again tax credits gurgling out of Washington, and even a shakeup of the venerable TurboTax product line, this year—more than ever—small business owners need guidance and support as April 15 approaches.

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Like professional marketers, successful small business owners target their social media activities for maximum impact. While their competitors are adrift in a sea of tweets and blog posts, savvy strategists focus and fine tune their social-media plays. Consider three social media campaigns that generated big results through careful targeting:

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As a small-business owner, you are always on the lookout for ways to boost cash flow. Although increasing sales is one way to make that happen, cutting costs can be a faster way to increase cash. Here are seven of the most effective ways to reduce expenses without compromising quality.

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Online electronics store Adafruit began accepting bitcoin as a payment method in November 2013. Just over a week later, sales surged.

The DIY electronics merchant raked in tens of thousands of dollars that month alone, boosted by the annual shopping surge known as Bitcoin Black Friday. While sales have been up and down since, site founder Limor Fried says that, as a small business owner, she loves the cryptocurrency despite its potential pitfalls.

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Between working all the time and being high energy in all circumstances, establishing a small business is more exhausting than ever. Here is how one entrepreneur does it.

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Whether you decide to outsource your tax tasks or perform them in-house it is important to arm yourself with the relevant knowledge to make sure your business not only complies but also saves time and money wherever possible. Here are a few resources to get you started:

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For many independent business owners, embarking on a full-blown social media program can seem like a daunting journey into unknown territory. Thankfully, the payoff is worth the effort. When done right, there is massive potential for SMBs to directly connect and communicate with targeted, local audiences.

In fact, recent research has shown that 91% of small business owners rely on social media as a means of driving increased sales. So what is the secret? Where do you start, and what are some of the most important things to keep in mind as you look to boost your bottom line?

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A media interview provides a great opportunity to generate buzz surrounding your small business. Knowing how to give a great media interview – and get the most out of it for your brand – is key to helping your business build deeper long-term relationships with new and existing customers.

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When a good business plan pays off at home, it’s natural to want to take the show on the road. Introducing your small business to an international market has the potential to pay off in a big way, especially when it opens the door for your company to expand and grow like never before, not to mention the opportunity for higher sales in a new market.

Of course, new territory means new challenges. Most people do their homework before they visit a country, so you can imagine how much research is involved when deciding to take a company global. Are you prepared?

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For those just beginning, knowing what steps to take first can be hard to figure out. It can be even harder to tell which steps you should not take.

While a business might be a complex thing to fathom sometimes, Dr. Rebecca Reuber, professor of strategic management at the University of Toronto, believes that all of them need to share a simple start: An idea you believe in.

Once you get that, though, it gets more complicated.

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Small-business owners in the US are feeling pretty positive, as 72% polled in January 2015 by the National Small Business Association - NSBA said they were somewhat or very confident in the financial future of their companies. They intended to turn to advertising and marketing 51%, digital and ecommerce expansion 34% and strategic alliances 31% the most to fuel growth over the coming year.

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This is a checklist for small business owners who do not have a business degree. Other business professionals might fall out of their seat reading this because it might imply that starting a business is as simple as a checklist. This list merely skims the surface of a bottomless ocean.

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