Building a Facebook Page That Works to Your Business' Benefit

Social media has become a dominating force in the eyes of today’s consumer. From YouTube to Facebook, consumers are turning to social media sites now more than ever to get more deeply connected to a business.

A Facebook page can serve as an eye catching way to lure in potential customers – if used correctly. Making sure that your website is up-to-date and fresh is the first step to having a solid, successful Facebook page. Don’t make the mistake of having your Facebook page serve as your only online presence. An eye catching Facebook page is a great way to complement your business’ website.

BBB recommends the following to small businesses that are looking to grow their Facebook presence:

Keep your page fresh, lively and interactive. When posting to Facebook make sure to keep your audience in mind. What would they like to know and what do they need to know? Are you offering any special deals, rewards or promotions? All comments should be kept positive and sincere. Consider polling your audience with a question of the day or week to keep them engaged and feeling valued. 

A picture (and video) is worth a thousand words. Make sure to keep the communication light and avoid talking at your audience. Try mixing it up by adding pictures and videos with fun,telling captions to reel in your audience. 

Spread the love. By becoming fans and “liking” your business partners, vendors and sponsors, you can not only grow your own constituency, but gain more eyes on your work. 

Share the wealth of knowledge. Informative postings that are in-line with your business are a great way to show your followers that you are up-to-date and keeping with the trends of the industry. 

Spring Cleaning? What to Keep and What to Shred

The Federal Deposit Insurance Corporation (FDIC) says it can’t tell you when it is safe to throw away financial documents, but they do say to keep the information as long as the IRS can assess you additional taxes. Right now, that is approximately seven years. Laws change. Always check with your CPA for the latest laws.

Here are some guidelines:

Credit card statements:
Credit card statements with no tax or other long-term significance can be discarded after one year; remaining statements should be kept for up to seven years. If a consumer receives a detailed annual statement, they should keep it and shred the corresponding monthly statements.

Bank account statements:
Check with your financial institution to determine how far back they keep statements available to you.

Canceled checks:
If purchases are tax related, keep canceled checks seven years. If they are related to your house purchase, renovations, or big items that you purchased, keep them indefinitely. Canceled checks that support tax returns, such as charitable contributions or tax payments, should be held for at least seven years. By the way, banks are required to keep copies of checks for seven years.

Deposit, ATM, credit card, and debit card receipts:
Consumers should save credit, debit, and ATM receipts until the transaction appears on their statement and they have verified that the information is accurate. If it is for a big item and it has a warranty, save the receipt at least until the warranty is up. You might want to save it longer for insurance and/or IRS reasons, if there is a disaster.

Credit card contracts and other loan agreements:
Credit card contracts and loan agreements should be kept for as long as the account is active in case the consumer has a dispute with their lender over the terms of the contract.

Documentation of a purchase or sale of stocks, bonds, and other investments:
Investors should retain documentation of a purchase or sale for as long as they own the investment and then seven years beyond that time. Monthly retirement and monthly investment account statements can be shredded annually after being reconciled with the year-end statement.

Paycheck stubs:
Paycheck stubs can be shredded yearly after the income has been reconciled with a W-2 or other tax forms.

Utility or monthly bills:
Monthly bills should be shredded the year after being received by the consumer. This way, if it’s a power bill, for example, consumers can compare this month’s bill to last year’s bill for any major changes before shredding it.

Electronic Records:
Make sure you back up your data. Technology is always changing. Make sure you are using a method that allows the information to be retrieved.

Little Ringed Plover on Herdla

After my Florida trip picked up local birding again and twitched the Little Ringed Plover on Herdla. A new Hordaland species for me (only the first so far this year). Further a flava Yellow Wagtail, Bar-tailed Godwit, Whimbrel and a Wood Sandpiper.
Later this weekend I'll upload my Florida pics.

Bitcoin: The Internet Currency

Shoppers regularly hand over credit cards when checking out, but a new form of digital currency, called Bitcoin, is increasing in popularity. In fact, the value of all bitcoins in circulation is approximately $1.3 billion in United States currency—a number that simply cannot be ignored.

Our friends at the Better Business Bureau serving Alaska, Oregon and Western Washington offer insight into this new “cryptocurrency.”

What is Bitcoin? Bitcoin is a digital currency which allows anonymous and instant peer-to-peer payments. The Bitcoin system uses a shared public log called a blockchain, which contains all verified payment records in chronological order—allowing everyone on the network to see every transaction.

Where do bitcoins come from? Bitcoins are intangible and must be digitally “mined.” Computers connected to the Bitcoin network compete against each other to find solutions to extremely complex mathematical equations, the first to crack the equation is awarded with freshly minted digital coins. There is a set ceiling of 21 million bitcoins and it is expected that they will all be unlocked by 2140.

How can bitcoins be used? Computer programs and smartphone applications allow users to anonymously exchange real money for bitcoins and many retailers—both online and offline—now accept bitcoins as payment for goods and services.

Are there any dangers to using Bitcoin? Bitcoin is not backed by any single government or organization; its value is recognized solely by its users—consumers and businesses. The Bitcoin exchange rate fluctuates continuously, making it high-risk currency.

Will you consider accepting bitcoins as a source of payment? Let us know what you think in the comments. 

Hiring Staff: Common Hiring Mistakes

Welcome back to the final installment of a four part mini series of blog posts on hiring staff! Please check back each week for a new entry.

Not checking references. With the applicant's permission, contact their list of references to find out if he or she has the proper skills and attitude for the job. Sometimes employers will not discuss the job performance or attributes of ex-employees, but they should be willing to confirm the employee's name, date of employment, title and salary. It is always helpful to ask whether the employer would consider rehiring that person. They can give a straight "yes" or "no" answer, without elaborating.

Not consulting the right people in-house. If the new hire will be working closely with other employees, you may want to solicit their input before making a hiring decision. When current employees have the chance to meet with a prospective candidate, they may have an easier time developing a productive rapport with "the new person."

Not treating candidates with respect. Be courteous and respectful to each person that you interview. Remember, even if you don't end of hiring that person, they may be a future customer and will definitely tell others about their perceptions of your business. Or, you may have need of that person's skill set in the future so it's good to leave them with a positive impression. Always thank the candidate for his or her time and interest. Finally, explain the selection process and offer a realistic time frame for when a decision will be made.

Failing to put everything in writing. Once you've made an job offer and it's been accepted, put everything that you negotiate with your new hire (salary, job description, the parameters for bonuses and performance evaluation criteria, start date, non-compete clauses, etc.) in writing.

Picking the wrong temp agency (or independent contractor), if you go that route. You should carefully check the reputation of several temp agencies (or independent contractors), before selecting one with whom to do business. Find out how long the service has been in operation and what its performance record has been. Check with other clients to see if they like the agency. Reputable agencies are happy to provide client references. Also, ask if the agency is insured – for workers' compensation and general liability. Finally, contact the BBB for a reliability report on the company or contractor.

FINALLY, Keep ‘em Happy! 
You've taken the time and trouble to hire a qualified employee, one who can add value to your business and help your venture to succeed. Do not assume that your job is done! A major personnel cost for any size business is employee turnover. Your goal now should be to retain that employee. If you don't take the time to nurture a new hire and make clear your expectations, you will spend even more time, money and effort on the other end having to find a replacement.

Treating your employee fairly and with respect will help to ensure a productive working relationship that is of benefit to you and your business. Satisfied employees are usually energetic and tend to be highly motivated. In addition to paying them a competitive salary, there are other factors key to employee retention. Keep them informed and engaged; let them know you value their contributions; give acknowledgement for a job well done; clearly communicate your expectations and offer regular feedback on their job performance; and, provide the tools and training resources they may need to do the job right and to advance in their field of expertise.

FOR MORE INFORMATION on Hiring Staff 
The U.S. Department of Justice (www.usdoj.gov/crt/ada/adahom1.html) offers information on hiring under the Americans with Disabilities Act.

The U.S. Equal Employment Opportunity Commission (www.eeoc.gov) offers facts and guidance on various forms of employment discrimination.

The U.S. Small Business Administration (www.sba.gov) was created specifically to assist and counsel small businesses. Its Web site offers information for small businesses on managing your business for growth, and includes tips on how to select the "right" person for your business.