by Barbara Weltman on March 15th, 2010
Now is an opportunity to get rid of things that are holding you back from success. This will give you time, space, and other resources to help you grow in 2010. Here are some key areas in which to clean house and create space for new opportunities.
Cleaning files
Are your file cabinets bulging? Are your e-mail files out of control? January was designated by the National Association of Professional Organizers (NAPO) as Get Organized Month, but it’s never too late to look things over and get rid of unneeded communications and papers. According to statistics posted by NAPO, the... Read more »
by Steve Strauss on March 15th, 2010
Q: Steve – You must hear from a lot of small business owners. Do you know of any strategies that seem to be working especially well in this economy? Thanks
Alan
A: Indeed I do hear from lots of small business owners and they do seem to have a few things in common. For one, they are definitely trying and experimenting with new, affordable business strategies right now; there seems to be a lot of trial and error going on out there. Secondly, and paradoxically, they are not forgoing the tried-and-true as they ride out the recession (the worst of... Read more »
by Barbara Weltman on March 8th, 2010
Income taxes on business profits receive the most attention, but they are far from the only taxes you need to know about. Other taxes can add considerably to the cost of doing business because of the financial outlay and time demands. Avoid penalties and interest by complying with these other tax responsibilities.
Employment Taxes
As long as you have employees, including yourself, you must deal with payroll taxes. These include:
Social Security and Medicare (FICA) taxes on wages and other taxable compensation. The tax is paid by the employer and the employee. For 2010, the rate paid by the employer... Read more »
by Robert Cyr on March 8th, 2010
What exactly is wholesale liquidation merchandise? The term liquidation merchandise encompasses several categories of traditionally below wholesale inventory that can be purchased and resold for a large profit. As a small reseller, you now have the opportunity to buy name brand merchandise at unheard of pricing.
But where do you find this liquidation merchandise? You can buy pallets and truckloads of merchandise from wholesale liquidators or simply buy direct from the original retailer who is liquidating excess, unwanted stock.
I should also mention that you can buy liquidation merchandise from Brokers. A liquidation broker is someone who finds liquidated merchandise... Read more »
by Robert Cyr on March 5th, 2010
What happens to the thousands of electronic customer returns? You know the stereos that have a missing button or the tv with the broken power switch? Mass electronic retailers have a consistent supply of electronics that have been returned for store credit or refunds due to some kind of damage. Are all of the electronics damaged that are returned to the store for credit or exchange….the answer is NO.
Some tv’s, stereos, DVD players, digital cameras and the like are returned due to impulse purchasing. What happens to the all of the customer returns? What if a portion of the... Read more »
by Robert Cyr on March 4th, 2010
Probably the most sought after liquidation category happens to be handbags. Resellers on eBay as well as online e-commerce sellers are continuously searching for an authentic source for designer and name brand handbags. With so many fake and knock-off purses on the wholesale market its very hard to find a true wholesale source. Authentic handbags command a premium resell value as most women are looking for top name brands at liquidation prices.
If you are looking to buy shelf pull handbags at liquidation pricing make sure you are buying direct from the original retail source. This will guarantee authenticity and... Read more »
by Steve Strauss on March 3rd, 2010
Q: Steve – I have been watching the startup series you are part of at USA TODAY. I was wondering if there are any typical mistakes that you see startups make that I can avoid. I am new to this entrepreneurship thing. Thank you
Asa
A: It is never fun to make a mistake in business, even if they are inevitable. And worse, mistakes are both more prevalent and more dangerous during the startup phase of your business because your idea has yet to be fully cooked; the startup period is, unfortunately, usually the ‘error’ part of a ‘trial and... Read more »
by Robert Cyr on March 2nd, 2010
If you are a new wholesale liquidation buyer you should make sure the pallet or truckload you are about to buy comes with a full manifest. A manifest is simply a written inventory showing you, the buyer, what you are buying. If a pallet or truckload is manifested you will have a clear indication of its contents before you ship it across the country to your location.
Some manifests will offer:
Item descriptions: Usually abbreviated, but most of the time you can discern what the actual item is.
Quantity: Before or after the description you should find an actual item... Read more »
by Barbara Weltman on March 2nd, 2010
Uncertainty is the best way to describe tax rules for 2010 and beyond, making it difficult for you to plan effectively for your business. Some things are certain, allowing you to make business decisions now, but other plans will have to wait until Congress acts.
New rules for vehicles
If you drive your personal car or truck for business and opt to deduct costs based on the IRS standard mileage rate (rather than your actual costs), note that the rate for 2010 is much lower than it had been for 2009. The 2010 rate is 50 cents per mile, down... Read more »
by Jonathan Staley on February 26th, 2010
If you are interested in sourcing wholesale electronics then it is well worth your time to check out Evertek, the world’s largest closeout electronics wholesaler and 20 year industry veteran.
Stocking around 1600 different products at any given time, Evertek sells name brand notebooks, hard drives and big screen tvs as well as gaming consoles, flash lights and consumer electronics.
Specializing in excess, overstock and end-of life products, their team of experienced purchasing professionals only pays cash for the products they source. This enables Evertek to get the best price possible from vendors which they then pass onto customers. This... Read more »