I feel pretty strongly about those statements and I want you to see why this is the case. Below are some links to a few employee highlights so you can see when I say my team is stellar, I truly believe it.

• Meet Amanda Beren
• Meet Milton Turcios

As a leader, I’ve learned a few strategies for finding the right people from the start and cultivating their skills so that they become long-term assets for our company.

1. Know What You Need

When you run a business, it’s challenging to focus on any one part of your business for too long. But if there’s one area I’ve found you can’t skimp on, it’s really thinking through your job description. If you hastily jot off a list of qualities you think you want in a new hire and then add to that list once that person starts training, you’re being unfair to the new employee by pulling the rug out from under her.

Block off as much time as it takes to really assess what a role entails and think through what a good job description looks like. That wording may change from what it looked like the last time you hired for that position. If your responsibilities list starts to look like a lengthy manifesto, consider whether you actually need to hire more than one person to take on your mega list.

If you’re having a mental block on crafting the right job description, head online for some inspiration. There are many websites that have samples readily available for you to browse. You can use 4 Corner Resource’s large list of job descriptions to get you started down the right path.

2. Ask the Right Questions

So many job interviews get stuck when the interviewer asks the same boring questions as everyone else. Do you really need to hear what a candidate considers his weaknesses? He’ll only position them as strengths like claiming he is too organized. Instead, create hypothetical situations where you can assess how the applicant would do in a realistic scenario.

If you’re struggling to come up with some solid options for interview questions, you can head online again to get inspiration. A newer website called zengig has a solid list of interview questions to get you started. And if this list doesn’t do the trick, just ask Google for more suggestions. With the massive amount of information available online, you can always get a dose of creativity to spice up the interview process.

3. Look for a Good Company Culture Fit

We have a fairly laid-back office here. Sure, we have rules, but our staff also knows they’re empowered to make the right decisions for both the customer and the company. You don’t want to look for people who need a lot of hand-holding. Instead, consider your company culture. What types of people do you have working for you that fit into that culture? Who wouldn’t be a good fit? Take that knowledge with you when reviewing applications.

4. Trust Your Gut

While you should have a list of qualities that you’re looking for in a candidate, don’t overlook the importance of your own instinct. You usually know within a few minutes whether you like a person, and that is imperative for an employee who might work with you for decades. My wife Nellie is the queen of trusting her gut. She has found amazing employees in the strangest places and this is because she trusted her gut and her initial reaction.

If everything on a candidate’s resume lines up with what you want, but you just get a sense that you wouldn’t work well together, don’t ignore that. Sometimes our guts know more than our brains.

5. Ask Your Staff for Referrals

When you first start a corporation or LLC, you won’t have any staff to ask for employee referrals, but as you grow, they can be a great resource for you. After all, they already know what it’s like to work at your company, and can make recommendations of friends or contacts who they think will be a good fit.

We wouldn’t be where we are without our fantastic employees. It’s worth the time to really delve into what you want in your staff so that you get exactly what you want.

Ready to start a business so you can hire those amazing employees? CorpNet can help. Contact us about incorporating a business today!

The post How to Hire the Right People appeared first on CorpNet.

When I see an employee’s eyes glaze over and stop listening to what I think is essential material, I take note and I take action. Over the years I’ve devised my own strategies for waking meeting participants up and making the meetings more productive.

1. Meet More, Not Less

I know how this sounds, but hear me out. When you meet once a month (even once a week might not be often enough), your meetings tend to go on and on. People stop listening 15 minutes in. So while you have plenty of material to cover as you try to minimize your meeting frequency, you’re actually less productive when you try to get it all covered in a single meeting. Instead, opt for more meetings, but keep them short and under 15 minutes if possible.

2. Keep Those Meetings Brief

I know, you’re still reeling from me suggesting that you hold a 15-minute meeting. Crazy, right? Hear me out. If you’re holding more frequent meetings, you don’t need them to all be an hour long. You’ll keep your staff’s attention span for such a short meeting, and they’ll be more likely to be productive as a result of the meeting. Set a timer if you have to, otherwise, the meeting will go on and on.

3. Center Each Meeting Around a Single Topic

If you’re meeting more regularly, you won’t have that desire to have a 10-topic meeting (you’re starting to see how all these tips work together, aren’t you?). It’s better if you keep each meeting on a single topic, like “sales” or “brainstorming new products” rather than diluting your team’s brainpower over several different topics. Only invite those essential to the topic, and free up everyone else to get back to their own assignments.

4. Know When to Take the Conversation Offline

Everyone’s going to want their say in your meetings, and that’s fine, within reason. When the conversation strays from the topic at hand, gently guide everyone back to what your focus is. If an employee really wants to keep talking, invite him to schedule an appointment with you later so you can “take it offline” and keep the meeting from derailing.

5. Send a Summary Email

After each meeting, send (or have your assistant send) an email summarizing what was covered, and noting who’s responsible for what action items. This keeps it completely clear what your expectations are of others once they leave the meeting room.

Meetings don’t have to suck. Just be aware of your staff’s energy levels, and know when to call it quits. Otherwise, you’re just wasting your breath.

The post 5 Tips to Smarter and More Efficient Business Meetings appeared first on CorpNet.

Small business is the core of CorpNet and our service offering. We’d like to make sure we do everything we can to help business owners obtain PPP loan funds. To do this, we need to make sure you have everything you need to get you Paycheck Protection Program application submitted and approved.

Let’s walk through the documents and information you’ll need to get your PPP application submitted and ready for SBA approval.

If you’re applying for a Paycheck Protection Program loan, you’ll need to have a number of documents ready to share with your bank or of loan broker. Each bank will have its own set of qualification standards and document requirements.

I’m going to walk you through the information we use to submit loan applications for our clients.

Due Diligence Checklist for PPP Loan Applications

The authorized lender will be required to submit a signed SBA Form 2483. While the small business owner doesn’t have to complete and submit this directly, it is a good idea to review the form because these questions will be asked by your lender.

Data Points for the SBA Form 2483

In preparing this form and supplemental information, the following items comprise a list of what will be required. Again, this list will vary by lender. This list is what CorpNet uses, as a loan broker, to submit PPP loan applications.

1. Basic Application Information

• Entity type – Sole Proprietor, Partnership, C-Corp, S-Corp, LLC, Independent Contractor, Self-Employed Individual, 501C3, 501C19, or Tribal Business
• Legal name
• DBA (Doing Business As)
• Physical address
• Primary contact name and phone number
• Business tax ID (EIN or Federal Tax ID)

2. Affiliation

This information pertains directly to questions on SBA Form 2483 that requests information on the applicant’s ownership in other businesses. If ownership is applicable to multiple businesses, the following data will be required:

• NAICS code
• Affiliate relationships of owner, management or identify of interest (if they exist)
• Ownership amount per individual and entity
• Total number of employees for all unique affiliates
• Total number of employees for all unique affiliates excluding those with NAICS 72

3. Economic Injury Disaster Loan (EIDL)

If the business has received an SBA Economic Injury Disaster Loan between January 31, 2020 and April 3, 2020, the following data will be required:

• EIDL amount
• EIDL closing date
• Any plans of paying off the EIDL with the PPP loan
• Copy of the original EIDL Executed Note and Security Agreement

4. Ownership Certificate

This data will be needed if multiple owners exist for the business. If this is applicable, the following data points will be required:

• Company name
• Name of signing officer
• Name of applicant
• Business NAICS code
• Information for each owner to include:
  • Name
  • Title
  • Ownership percentage
  • Date of birth
  • Address
  • Social security number or employer identification number (EIN)

5. 2019 Payroll Information

Because payroll is the core of this forgivable loan, all applicants will need to provide payroll information that includes:

• Total annual payroll amount
• A list of employees with compensation in excess of $100,000 that includes:
  • Employee name
  • 2019 gross compensation
• Total employee compensation to non-US residents
• Cash tips (or equivalents) paid outside of the payroll system
• Vacation, parental, family, medical or sick leave paid outside of the payroll system
• Employer health insurance contributions
• Employer retirement benefits contributions
• State and local income tax assessed

6. Additional Information

This next section will wrap up the information gathering for qualifications and it includes:

• Business legal name
• NAICS code
• Number of jobs created
• Number of jobs retained
• Prior SBA loans
• Franchise activity
• US citizen ownership
• Veteran ownership
• Use of proceeds in dollar amounts for:
  • Payroll costs
  • Utilities
  • Mortgage interest payments
  • Rent
  • Refinance eligible EIDL

7. Wiring Instructions

And finally, we’ve reached the part where we provide information on where to send our forgivable loan. This data will include:

• Name
• Email
• Phone number
• Bank name
• Bank account type
• Bank address
• Routing number
• Account number
• Name listed on the account
• Account owners name
• Address listed on the account

Supporting Documentation

The below documents will be required to help support the above provided details.

• Applicant Formation Documents – Articles of Organization or Certificate of Incorporation
• Applicant Governance Agreement – Operating Agreement or Bylaws
• IRS Form SS4 – EIN Verification
• Certificate of Good Standing
• Copy of Voided Check
• Franchise Agreement (If applicable)
• EIDL Original Executed Note and Security Agreement (If Use of Proceeds include refinance of EIDL)
• Driver’s Licenses Copy for Front and Back – For all owners with greater than 20% ownership

Payroll Documentation

The below documents will be required to help support the payroll calculations provided.

• 2019 IRS Form 940
• 2019 Payroll Report by Employee (W-2 Summary)
• Payroll Report by Employee (W-2 Summary) – If the business did not start operations until after June 30, 2019, provide January 1, 2020 – February 29, 2020.
• Proof of 2019 Payroll Costs Not Included in 2019 Payroll Report – Health Insurance, Retirement, etc.
• Proof of Payroll and Payroll Taxes Paid on or Through 2/15/2020
• February 2020 Business Bank Account Statement – Show February payroll payment.

Sole Proprietors and Self-Employed

Sole proprietors, self-employed, and 1099 contractors will require variations to the above requirements

• Independent Contractors – 2019 IRS Form 1099-MISC for any independent contractors paid and not to exceed $100,000 for the year.
• Sole Proprietorship – 2019 IRS Form 1040-C

While the above data points and documention can feel like a lot of information, it is required for the bank to validate the application and request for funding.

Your payroll processor may have many of these calculations and forms waiting for you online. Major providers like Paychex have documents ready to go so you can easily access the calculations and forms needed for your applications.

Getting Help

There are several ways to apply for the various government programs. You can complete the SBA form yourself; find out if your bank offers the SBA loans; work with your accountant; or work with an SBA loan packager.

The post Paycheck Protection Program Loan Checklist appeared first on CorpNet.

If you’ve locked your credit profile at Experian, Equifax, TransUnion, or another credit reporting agency, you could be in for an unpleasant surprise.

By locking your credit profile you are prohibiting banks from doing the due diligence related to the Payroll Protection Program loan or other funding options provided under Coronavirus relief programs.

The SBA, and their authorized banks, will be running credit checks and any mechanisms preventing this will delay loan approval and funding. No one wants that to happen!

Here is a list of the most popular credit reporting agencies:

• Equifax
• TransUnion
• Experian

If you are unsure if your credit report is locked, now is the time to double-check and make sure the SBA and their authorized banks can view your credit history and score.

CARES Act Funding Options

On March 29, 2020, following the passage of the CARES Act, the SBA provided small business owners and non-profits impacted by COVID-19 with the opportunity to obtain up to a $10,000 Advance on their Economic Injury Disaster Loan (EIDL). The Advance is available as part of the full EIDL application and will be transferred into the account you provide shortly after your application is submitted. To ensure that the greatest number of applicants can receive assistance during this challenging time, the amount of your Advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.

CorpNet Is Here to Help

CorpNet remains open and in full operation Monday through Friday from 7 a.m. until 5:00 p.m. PST to help. Our team is safely self-distanced and set up to work remotely with all of the necessary tools and resources to serve you. Contact us today at 1-888-449-2638 to discuss how we can help you.

Additional Resources & Links

• Overview of Coronavirus Relief & Aid for Small Businesses
• SBA Paycheck Protection Program: Loan FAQs for Small Business
• How to Calculate Your Payroll Protection Program Loan Amount
• How the COVID-19 and the CARES Act Affects Your Small Business and Employees
• What Employers Need to Know About Sick Leave During the Coronavirus Crisis
• SBA Coronavirus Relief Option Information

The post Don’t Lock Your Credit if You’re Applying for a CARES Act Loan appeared first on CorpNet.

1. Wunderlist

Who doesn’t have a giant list of things to do? I try to remember them in my head, but given that my wife, Nellie, often wags her finger at me for forgetting, I guess that doesn’t always work so well. So now I use Wunderlist. I can jot down something as I remember it on my phone, then mark it off when it’s done.

I like it as well because I can assign employees tasks and we can collaborate via a chat function about the task.

2. Slack

I’ve got so much going on on any given day, I feel like I don’t always have the time it takes to walk through my office to talk to the employee I need to communicate with. That’s where Slack comes in handy. We use it to communicate about projects we’re working on, and we can set up different channels for each project to keep our chats organized.

We can also share files, which is nice, since we can associate them with the channels we set up. Sometimes digging for an email with an attachment is a pain in the you-know-what.

3. Podio

When we’ve got projects going on, like working on our website or new products, I like to get really organized on each project with Podio. It brings out my inner project manager when I can see the whole scope of the project, set milestones, and assign tasks all in one place.

4. Google Calendar

When my Google Calendar tells me I have a meeting or appointment, I listen. I love that I can sync my calendar on my phone so that no matter where I am, I’ll hear that notification telling me I need to be somewhere. (Nellie was kind enough to set up notifications so I know ahead of time that I need to be somewhere!)

5. CorpNet’s Compliance Portal

So many of our products at CorpNet come from our own desire to find a solution to our own problems. We help businesses incorporate, but we’re also a corporation, so we have the same filing deadlines and fees as everyone else. I hated losing that important piece of mail reminding me to file my Annual Report, and I thought, wouldn’t it rock if we had corporate filing reminders that would tell us when to file? And voila! The Compliance Portal was born. I don’t have to sweat when to file corporate documents or tax deadlines, because I get a notification whenever anything is due.

Stop wasting time and missing corporate filing deadlines. Sign up for a free Compliance Portal account today!

The post Get Back Your Time: 5 Tools to Help You Manage Your Small Business Tasks appeared first on CorpNet.

Where Would We Be Without Them?

Whether it’s your secretary, your assistant, your receptionist, or anyone else that makes you look good, keeps you organized and on time, and acts as the backbone of your company, you owe a lot to your administrative staff. Imagine a day without them. I bet you’re sweating at the thought!

A Round of Applause, Please

Let’s look at five ways you can let the admins in your office know how much you care.

1. Acknowledge the Day

Want to give your admin team a shock? Wish them Happy Administrative Professionals’ Day on April 22. They probably don’t even expect you to know that it’s a holiday, so it can go a long way to showing that you’re aware of the great job they’re doing. A handwritten card wouldn’t hurt, either.

2. Give a Gift

I won’t go into all the gift possibilities here, but suffice it to say: your staff will appreciate a gift, whether it’s flowers, a gift card, or something personal that they’d like. Just make sure the gift is appropriate (I’m thinking no bath oils to opposite sex staff!). A cash bonus is okay.

3. Give the Gift of Time

Your staff might appreciate one thing more than flowers: time off. If you can afford it, give your receptionist the day or afternoon off. Or let her pick her own day off, to use when she really wants it.

4. Don’t Forget Kind Words

More than anything you could buy your support staff, your appreciation goes a long way, especially if you don’t often think about giving it out. While today you absolutely should tell each individual employee how much you appreciate their hard work (maybe even pointing to specific examples), go beyond this holiday and build in those pats on the back throughout the year. Staff that gets regular support from their boss will be more ready to help you grow the business through hard work and dedication.

5. Talk to Them

I find that just taking a minute and having a conversation with each of my employees (not at the same time!) works wonders in helping them open up to me. Simply by taking an interest in them, I can foster that relationship.

Mark your calendar for next year so you have more time to plan out how you will show your appreciation!

The post 5 Ways to Show Administrative Professionals a Little Appreciation appeared first on CorpNet.

Open Up the Floor

Don’t get the wrong idea that you as the business owner are the only one who can come up with great ideas for your company. If you’ve got staff, their ideas are often great — and sometimes better than anything you could come up with.

Hold monthly brainstorming sessions and encourage their bright ideas. Let your team know that you value their opinions, and show that by implementing some of their ideas. They’ll soon start coming to you with their thoughts, now that they know you’re really listening.

Get Out of the Office

For me, my best ideas happen when I’m not at work. That lightning bolt might happen when I’m on a run or watching my kid’s ball game. When an idea comes, I make sure to jot it down so I don’t forget my genius thought.

If you’re trying to work through a difficult problem, get out of the office. Go for a walk or drive, and don’t try to think directly about the problem. You’d be surprised at what comes up as soon as you let go.

Let Go of The Bad Ideas

Sometimes we’re emotionally attached to bad ideas, and we’re not willing to let them go until they make us bleed money. Try to be objective about every idea you take action on, and separate your emotions from the outcome. That way, it’ll be easier to discard the bad ideas and focus on the good ones.

Find Inspiration in Surprising Places

Sometimes seeing what your competition is up to can inspire you to come up with new ideas. What are they overlooking that you can swoop in and offer? How are they missing connecting with your audience?

But the obvious isn’t the only place to look for inspiration. Look at brands outside of your industry and see how they operate. Here’s a good example: Chipotle restaurants. They’re “slow” fast food, meaning it takes a few minutes to get your food, so they’re not competing with Taco Bell for speed. But their attention to quality is impressive. You might take inspiration from the fact that there are only about 5 items on the menu. Simplicity. Don’t overwhelm the customer with too many choices.

See where something unexpected takes you in terms of how to apply it to your own brand.

Innovation gets rid of stagnation. You need to continue to generate new concepts in order to stay relevant in your marketplace and continue to grow your business.

The post How Does Your Small Business Generate New Ideas? appeared first on CorpNet.

6 Tactics I’ve Found Effective in My Leadership Strategy

Do What You Say

I’m big on keeping my promises. Yes, I’m swamped, but when an employee asks me to do something, such as review their work or provide feedback, I make it a priority. That way, they know that my word is my bond, and that they can trust me.

Say What You Mean

I don’t believe in pussyfooting around something. I’m always honest. I refuse to lie or even expand on the truth to an employee, because I know from experience that it always backfires. People appreciate the truth, even if it’s ugly.

Be Big on Communication

Have you ever had a boss who blew up at you because you didn’t do something to his liking…only he never told you what he wanted? Yea, we’ve all been there, but knowing that it doesn’t help the situation means that, if anything, I’m going to overcommunicate just to make sure my team is on the same page. They may roll their eyes, but they know my intentions are good.

Support Your Team

Sometimes that means rolling up your sleeves and working alongside them to get a project done. It can also mean that when they need something, like your approval or appreciation, you give it to them. It’s easy to stay locked in your office, working on “more important” things, but remember: you wouldn’t be here if not for your staff, so make sure they know you’re rooting for them.

Admit When You’re Wrong

When you’re in a position of leadership, admitting mistakes can feel uncomfortable. After all, we’re the leaders! We don’t make mistakes! Except…we do. And your staff knows that. So rather than trying to point the finger at an innocent, be open and honest about what you did wrong, and see how you can fix the situation.

Maintain Some Distance

Look, my staff is like my family. I like having a meal after work with them occasionally. But I don’t make any mistakes: they’re not my BFFs. I am their boss. And there needs to be a little distance between us so that we keep that respect between us. It’s hard to respect a boss you’ve let your hair down around a few too many times, so make sure the employee/employer relationship is always there.

Being a leader is a gift. Don’t blow it. Think about all the crappy bosses you ever had, and do the opposite.

The post 6 Ways to Lead by Example appeared first on CorpNet.

What’s the best thing about working with your spouse?

Well…we have A LOT more to talk about at dinner and on date night.  Although it’s important to separate the stressful part of our work lives from our personal lives, I find it very beneficial to our relationship to share and discuss the exciting and/or creative parts of our business…even during “personal time.”  We really “connect” when we are excited about something at work.  Thus it’s always a good idea to discuss a new project or idea…but we NEVER discuss accounting, taxes, or legal matters on date night.

What’s the worst thing?

She knows EXACTLY where I am almost every minute of the day.  I’ll often get a “small” guilt trip when I sneak out for a massage or if I leave early and she remains behind putting out fires or addressing those “not-so-fun” tasks that every business must address.

Also, when one of us has had a stressful day due to a stressful event at work, we don’t really have each other to “vent” to.  I can’t just dump my work stress on her as she is under the same load as I am.

What’s one lesson you’ve learned the hard way on your journey together?

“TRUST HER INSTINCTS!”  My wife/partner has only our best interests at heart.  Often, she’ll see something, potentially harmful, in a situation or in a person that I fail to see.  Nine times out of ten, she was right!  I have learned to defer to Nellie’s judgment whenever she says “No…let’s avoid this person or situation.”

What are your rules for keeping work and life balanced?

I take care of “ME” first.  That doesn’t mean that I behave in a selfish or self-serving manner.  However, I have personal challenges that I face on a daily basis.  Unless I take the time, each day, to prioritize, plan, and execute, nothing will get done and I’ll end up in a tailspin by the end of the week.  For example, for me, its important that I  eat healthy, exercise daily, spend quality time with at least one of our four kids daily…even if it’s only a few minutes,

Also, I am a creative and passionate entrepreneur; I must continually work toward maintaining focus or else I am all over the place.  One of the worst feelings for me is having a million ideas and executing on none of them.  I have found that “singleness of purpose” is often very helpful during my day.  Multi-tasking is my enemy.  On the other hand, Nellie is THE BEST multi-tasker I have ever met.

How do you make Nellie happy in the office?

I’ll buy her flowers once per month…randomly…for no special occasion.  I “try” to stay out of her way when she is managing her team…I have a tendency to take over and drive whenever the subject matter falls within my expertise…and once I’m on a roll, it’s hard to stop me.  Thus, I “TRY” to sit there and just look pretty while she’s speaking to the team.

The post What I Love About Having My Business Partner as My Valentine appeared first on CorpNet.