Comparison Shopping as a Business

June 18, 2021 by First Federal Bank

Does your business need products or services from an outside provider? To get the best quality for the best price, you’ll most likely want to circulate a request for information (RFI), a request for proposal (RFP), or a request for quote (RFQ). These documents are essentially the business-world version of comparison shopping. Using them the...

Topics: Small Business, Entrepreneurship

What is a Competitive Matrix?

June 16, 2021 by First Federal Bank

When you’re starting a new business, analysis is key to getting off on the right foot. That holds particularly true if you’re entering a field with established competitors and looking to make your mark. A great tool to get your business up to speed and put it in a position to compete is a competitive matrix.

Topics: Small Business, Entrepreneurship

6 Signs an Employee Is Ready for Leadership

June 09, 2021 by First Federal Bank

Promoting an employee to a leadership role is an important decision. But is that employee ready for it? How do their current skills and experience translate into management potential? Here are a few of the top signs that an employee is ready for leadership:

Topics: Small Business

How to Use Social Media to Make Money

June 07, 2021 by First Federal Bank

Social media platforms are more than just a tool to update your relationship status, share cat pictures with friends, and post political memes. By giving you a potentially limitless audience, social media also offers significant money-making opportunities. These are some of the top ways you can use social media to bolster your income:

Topics: Small Business, Entrepreneurship, Social Media

Should You Give Your Employees Bonuses?

June 04, 2021 by First Federal Bank

Rewarding your employees for their hard work is crucial for keeping morale — and productivity — high. These days, many employers are forgoing the traditional model of raises in base compensation in favor of bestowing merit or holiday bonuses.

Topics: Small Business, Entrepreneurship

Calculating Business Asset Depreciation

May 21, 2021 by First Federal Bank

The things you buy, including equipment and property, to help improve your small business are not only smart investments, they are valid deductions you can report on your tax return. Since you are dealing with taxes, though, how to calculate the depreciation of your business assets can be complicated.

Topics: Small Business, Entrepreneurship, Taxes

Advice for Building Relationships with Clients

May 19, 2021 by First Federal Bank

If you’re focused on the long-term success of your business, you’ve already realized the importance of building ongoing relationships with customers. The best way to boost your sales isn’t to focus on your bottom line; it’s to foster connections of respect.

Topics: Small Business, Entrepreneurship

Keep the Bugs Away from Your Business with these 3 Tips

May 17, 2021 by First Federal Bank

The sight of pests at your business will deter customers and stress out your employees, ultimately impairing the potential of your business’ success. Pests are a nuisance, and depending on the creature, can cause a range of harm to humans and destruction to your property. In order to protect the health of your staff, customers, products, and...

Topics: Small Business

Retirement Plans That Fit Your Business

April 21, 2021 by First Federal Bank

Running your business with passion every day is key to success in the long run. But you also need to think about your individual needs down the line — specifically, how you’ll get to the point where you have the money you need to retire. As a small-business owner, you’re responsible for setting yourself up for retirement. Fortunately, you have...

Topics: Small Business, Retirement

Optimizing for Google RankBrain

April 19, 2021 by First Federal Bank

As a small business competing against larger companies with greater brand presence, it’s important local patrons still find you. If you don’t optimize your website correctly, you could be lost among the sea of competitors. Achieving high search engine rankings depends on pleasing Google’s algorithm RankBrain. Here’s a basic guide for doing that:

Topics: Technology, Small Business, Entrepreneurship

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