Management: New Overtime Rules Proposed
If you’ve got salaried-exempt employees (i.e. you’re not paying overtime) who makes less than $50,000/year, you’d better get acquainted with the overtime rules proposed by the Department of Labor last month. Here’ a quick summary: Inc Magazine: How the Changes to Overtime Rules will Affect Your Business (http://www.inc.com/jeremy-quittner/department-of-labor-details-on-overtime-changes.html) as well as the DOL’s FAQ page: Dept of Labor: Overtime FAQ’s (http://www.dol.gov/whd/overtime/NPRM2015/faq.htm).. These are just “proposed” at this time, and they are welcoming public comments at www.regulations.gov.
Taxes: Tax Scams
If you caught 60 Minutes a few weeks back (a rerun from September 2014), you were troubled to hear how easy it was for criminals to get names and social security numbers to use in tax scams. Some will pose as IRS agents in a phone call scam, some will file an early return for the refund, and other scams may resort to email. Read more at: IRS: Phone Tax Scams 2015
Image credit: Didriks / Flickr Marketing: Forget the 4 P’s
If you actually had a college class in marketing, you probably got exposed to the “4 P’s” of marketing — Product, Price, Place and Promotion. But with today’s buzz on customization and data and speed of transaction, the trend is no longer product-focused but customer focused — the relationship as primary. May sound cliché and not new, but take a read on the nuances: Entrepreneur: Forget the 4 P’s.
Image credit: Identity Thief (2013) Taxes: IRS Identity Breach
Last month the IRS acknowledged that more than 100,000 taxpayer ID’s had been illegally accessed. The thieves apparently looked to take advantage of people filing later by filing returns early with the taxpayer ID’s and having refunds sent to a different address. The means of the theft wasn’t a high tech hacking but a low-tech information gathering. Call us immediately if you have concerns, and learn more details here: Forbes: IRS says identity thieves accessed tax transcripts for more than 100,000 taxpayers
Image credit: ACG Orlando Strombeck News: Trio of Success
Last month the Association for Corporate Growth (ACG) in Orlando announced finalists for its annual Smart Awards, featuring companies that bring to Central Florida outstanding accomplishments in corporate culture, growth, business creativity and economic contribution. Congratulations to our clients who were nominated, Frontline Performance Group and Hostdime.com, Inc., and to client Riptide Software for walking away as the winner in the Technology category. Kudos! ACG Orlando: 2015 Smart Awards
Image credit: Sebastian Thibault Management: 10 Things to Transform Your Workplace
Laszlo Bock (is that a great name or what?), Google’s SVP of “people operations” comes out with his new book this month, “Work Rules! That Will Transform How You Live and Lead”. Google’s got that reputation for weird interview techniques, free food/cafeterias, great pay and benefits, game rooms, creative time and all sorts of reasons why they get 2 million people each year applying to work there. Maybe there’s some “there” there. Google’s 10 things to transform your team and your workplace
Image credit: SI.com Strombeck News: From Lockers to Logistics
Drive, ambition, will to succeed, character — descriptions of both successful athletes and successful entrepreneurs. Some athletes don’t make the post-profession transition well — few walk away with post-game Jordanesque jobs and endorsements. It takes something to move from ball field to business. But Strombeck client Tony McGee was featured in the March 30th Sports Illustrated about his successful transition from an 11 year career in the NFL to become a master of the supply chain, with a few bumps in between. Sports Illustrated: Former Bengals tight end Tony McGee found post-NFL success with logistics
Image credit: Harvard Business Review Sales: Why the Best Salespeople Get So Lucky
Can a sales manager control “luck” as a selling variable? Control? No. Manage? Yes, according to Joël Le Bon, marketing professor at the University of Houston. He suggests in the Harvard Business Review that sales managers who fail to manage for a factor he calls “provoked” luck will miss a huge element of successful sales leadership. Agree? What percentage of your sales can you attribute to an element of luck? How can you create a “luckier” sales team? HBR: Why the Best Salespeople Get So Lucky
Image credit: Strombeck Solutions: IRS Provides Retroactive Penalty Relief
Shortly after publishing. Last Month’s ProfitMatters (February 18 to be precise) the IRS issued Notice 2015-17 providing retroactive relief to the $100-per-day-per-employee penalty we addressed in February’s issue. Mind you, it affects 2014 retroactively, so you should still address the possibility of the penalty in 2015. Check with your Strombeck advisor. Forbes: IRS Spares Small Employers Big Obamacare Penalties For 2014
Image credit: Inc.com Sales: Two Essential Rules Most Salespeople Forget
Solution Selling? Or Spray and Pray? Somewhere in between? Here’s a quick reminder that sometimes more information is slowing down the buying process. Inc Magazine: 2 Essential Rules Most Salespeople Forget.
