Inc.com posted a great story last week: How to Run a One-Person Business. The gist of it: Owning and operating a business with a team of one requires determination, discipline and fearlessness. But those three qualities can be difficult to muster when the only person you have to rely on is you. So how do you manage?
For many employers, the choice to hire an employee or an independent contractor had become one of convenience. It’s cheaper and easier to hire independent contractors. They don’t get medical or other employee benefits; they don’t get overtime and aren’t subject to minimum wage restrictions; the employer doesn’t withhold taxes, provide worker’s compensation or contribute to unemployment compensation and they help moderate the impact of peaks in work-flow.
At one point or another in any business owner’s career, the question arises as to whether or not the business should (or can) be sold. Typically this question is combined with three others:
Question 1 – The first question can be answered relatively easily. All that is needed is to bring in a business appraiser like SPIA and have them evaluate your business. The appraisal will show you the range of value that your business is worth in today’s economy. Certainly that is good to know, as it tells you where you are.
Valeska Toledo is the Principal and creative director at Savvy Concepts Advertising. A multicultural advertising and marketing agency focused on helping to bridge the communication gap, targeting primarily the Portuguese Speakers – the second most spoken language in the state of Massachusetts. Toledo has a strong art director background and experience working with the Latin American communities for the past 12 years. She's also fluent in three of the four Romance languages: Portuguese, Spanish and Italian.