• Shifting our attention from one priority to another
• Judging which objects are worthy of our attention
• Ignoring distractions that aren’t pertinent to the issue at hand

Individuals who learn to focus their attention and concentration clearly have an advantage over those trying to multitask in chaotic work environments.
Smart Multitasking
All the research in the world won’t discourage us from juggling more than one ball. So, if we’re going to multitask, how can we do it effectively?

1. Work on your most important task first thing in the morning. Give yourself a time frame to work on this task, either to completion or a reasonable stopping point. Next, move to the second highest-priority task. If you can gain a foothold on two or three important tasks each morning, you’ll feel more available and in control of the rest of your day.
2. Use a capture tool, such as a handwritten notebook or computer program, for on-the-spot notes regarding what needs to be accomplished.
3. Use to-do lists for different contexts (phone calls, computer tasks, errands, home, team, recreation).
4. Plan your day in blocks, with open blocks for urgent issues that arise. Try half-hour blocks or hour blocks – whatever works best for you. If necessary, use a timer to alert you when it’s time to move on.
5. Turn off all distractions when working on a task in a time block. Shut off email, the Internet and your cell phone. Let everything go to voice mail. Focus on your designated task without worrying about all the other stuff on your plate.
6. Plan for the urgent. When something unexpected pops up, take control by putting it on your agenda. Let people know you’ll attend to them in 5 or 10 minutes, which gives you time to wrap up your current project. Deal with email and voice mail at regular, predetermined intervals.
7. When something interrupts you and it cannot be postponed, note where you are with the task at hand. Write down key words to facilitate returning to your ideas. This will save your brain some time in trying to reconstruct your previous processes.
8. Take deep breaths, stretch and allow frequent breaks to refocus on what really matters. Far too often, a task will take us down "rabbit trails" that don’t lead to real results. Stay on target and focused by stepping back, reviewing and taking short mental breaks.
9. Don’t try to finish everything at once. Working in intervals on specific parts of a task will give your subconscious mind the time it needs to reflect on and solve challenges.
10. Instead of multitasking, learn to delegate. Which parts of your workload can be handled by someone who would embrace the opportunity? Ask for help. You’ll be surprised at how often assistance is available. You don’t have to do it all.

Perhaps the only true multitasking occurs outside conscious thought. Neuroscientists estimate that our five senses take in 11 million pieces of information every second – and only 40 are processed consciously.
Our subconscious mind filters only what requires our conscious attention, which explains why we often come up with solutions after a break or good night’s sleep.

www.kashboxcoaching.com

Do not keep anything on your desk that you do not use on a daily basis. Things that should be removed include personal mementos, award certificates, photos of family and friends, and your favorite snow globe. These things only serve to clutter your workspace and will better serve you if they are hung on walls or placed on shelves. This way, you can still view them, but they will not interfere with your everyday tasks.

2. File your emails.

If you are one of the millions of employees using Microsoft Outlook, you should learn to take advantage of the program’s electronic filing system for emails. In the left-hand column of the screen, you can right click on "Inbox" and select "New Folder." By creating new folders and labeling them appropriately, you can file away your emails so that they are easier to find. Whether you label the folders by sender or by project, you will find that this saves you tons of time when it comes to locating an email and replying to or forwarding messages. It will also clean up your inbox so that you feel less overwhelmed.

3. File your electronic documents.

Many people make a habit out of saving everything they work on in their "My Documents" folder. This can create a big problem when you attempt locate something. Instead of saving all of your electronic documents in a bulk folder and wasting time scrolling through all of them to find what you need, create folders on your desktop that are specific to each project and save your documents in the correct folders. You may also want to begin using project-specific names when you save and name your documents. This will make locating items even easier.

4. Use a planner.

Recording your daily events, lunch plans, business meetings in a planner or on your smartphone will cut down on the number of sticky notes cluttering up the sides of your computer and your workspace. It will also help you prioritize your tasks for the day, which will keep your overall schedule and life more organized.

5. Designate fifteen minutes a day.

It’s very important that you set aside time during the day to file, clean up after yourself, clean your keyboard, dust, or throw away any lingering soda cans from yesterday’s lunch. By designating time, you will ensure that your office stays organized and that you maintain a level of cleanliness that is essential to the reduction of your stress level.
Every business can run more efficiently and cost-effectively to improve its bottom-line results. Access to important, current information by instant retrieval of documents from filing systems and effective time management skills are vital. Employing proper business organizing skills gives your company a critical competitive advantage.

You’ve heard the hype, your kids are on it, now you are trying to figure out how to use Facebook to promote your business. Facebook presents an enormous opportunity, there is no denying the 400 million users, the fact that the average user has 130 friends, and that people spend over 500 billion minutes per month on Facebook (Source: Facebook.com.)
It sure is enticing to see those stats and instantly jump on the bandwagon, but is it right for you and your business or just Social Media BS!
Here are the TOP 3 questions to ask yourself when evaluating a Facebook presence for your company.

Are my clients/customers there?

Here’s where you start…Your clients or customers, think about it, there is no point in being where your target audience isn’t. Now, you need to base this on facts not just if you think they are there or not. Too many people just assume that Facebook is for kids, when in fact the fastest growing demographic on Facebook is the 25-45 age group.
Start with a look at your target audience; are you selling to businesses or to consumers? If you are selling to consumers, then you have come to the right place. Define your ideal customer, their age, gender, what do they like to do, what groups would they be in, then think about where in Facebook (what groups or fan pages would they be on) and start to participate in those groups.
Businesses are really just starting to get involved, realizing that Facebook just recently opened the doors to businesses, so it’s just the beginning.

What’s involved in developing a strategic presence on Facebook?

Facebook in itself is NOT a marketing strategy, but how you use it is. This is not a place to truly sell, most people are not interested in your advertising, however they are interested in…themselves and their friends.
Networking has always been and will always be about the relationship you have with people. Just having a page on Facebook will not guarantee anyone will ever find it or become a fan of your business. You will need to be able to Attract attention, gain peoples Interest, get them to Desire your products or services and ultimately persuade them to take Action.
In using the time tested formula of AIDA, it will help guide you in creating a successful campaign to leverage Facebook to grow your business.
Just putting a page with your products and services on it won’t win you any points, determine how to add value to your connections and think about what’s in it for them.

How does Facebook work into the overall Marketing Strategy?

How do you currently stay in contact with your clients/customers, prospects, newsletter list, and employees? Think about the progression of communication over the past 10 years, from phones to cell phones, personal email to networks like Facebook. How will people like to receive communication from you?
The advertising industry has taken a massive hit with technologies designed to remove advertising messages. For TV there is TiVO and DVR, you can just fast forward through commercials, radio advertising was crushed by satellite radio and the iPod, newspapers almost wiped out due to free content online, and email marketing’s continual fight with spam filters.
So how does Facebook fit into your overall marketing strategy? Once you develop a presence on Facebook it is best to incorporate it throughout all of your marketing, just like your website, the more methods of communication that you can have with a prospect, or potential customer, the more likely they are to see your message.
Since this is not a sales environment, it is more suitable to become the expert in your industry and share information about what’s happening to position you and your business as the go to person for information on your industry.
The bottom line is that successfully marketing in Facebook is a long-term commitment, not something to try once in awhile. It is all about the relationship and not about getting a ton of friends and fans. Know who you are trying to target, figure out where they are in Facebook and how it will tie into your overall marketing plan.

Dan Beldowicz is the VP of Business Development with Single Throw Internet Marketing, helping companies attract new customers and generate new business through Internet Marketing and Social Media.
He has spoken about Internet Marketing and Social Media for groups including the Business Marketing Association, American Society of Media Photographers, MoveAhead One, NJAWBO, SCORE, Morris County Chamber of Commerce, Lakewood Chamber of Commerce, and Somerset County Business Partnership and is on the Faculty for the Association of Strategic Marketers.

Take a parade. Add a row of food trailers or maybe a car show. Like Ferris wheels? Why not include a half dozen amusement rides, too?
Communities throughout the United States attract thousands of people each year to special events, whether the event is a sports celebration, a founder’s day anniversary, summer carnival or church festival.

While the reasons for the events vary, the results never do: trash and lots of it. Paper plates, confetti, cigarette butts, food wrappers, scraps of paper—and, if the parade included horses, add a few dozen piles of manure to the mix.

Cindy and Lawrence Doty of Just Better Cleaning, Inc., in Margate, Fl., have built their ten-year-old business around special event sweeping. The company does other sweeping, too, of course, and has a nice business servicing parking lots, condominium complexes and other conventional areas. However, Cindy Doty, who is the company’s vice president, said that special event sweeping and cleanup comprises the bulk of their business.

The company owns twenty “backpack” blowers that can be carried on workers’ backs, plus fifteen Isuzu trucks that sweep up debris. The family-owned and -operated business has built a solid reputation in the Broward County, West Palm and Miami-Dade areas of southeastern Florida, and Doty said that business dropped only slightly during the recession. The company was able to ride out the worst of the economy, thanks to long-standing and long-planned special events such as car shows, flea markets and carnivals that are the bread-and-butter services of Just Better Cleaning.

While the company’s equipment is straightforward—the usual blowers and trucks that are part of most commercial sweeping operations—its marketing is slightly different from other operations. Doty explained that getting the company’s name out to the public is the biggest factor in a successful special event sweeping business.

For example, Just Better Cleaning belongs to all the area Chambers of Commerce in southeast Florida. Either Doty or her husband, Lawrence (the company president) attend the monthly meetings, get to know other business owners and—most important—meet the folks who plan special events. Advertising is also important, especially in publications or in places that will reach event organizers.

“It takes a whole lot to build up your business,” Doty shared. “Basically, you have to go out there and advertise. Go to the Chamber of Commerce meetings once a month. Go to where (businesses or groups) have ribbon cuttings. Hand out your business cards and brochures. Just show your face so they know who they’re dealing with.”
“The business isn’t coming to you; you have to go to them. You have to put yourself out there,” she added.

Doty said sweeping contractors who specialize in special events really do not require different equipment or strategies from other sweeping contractors. The only difference may be in the constraints that a community may place on the sweeping company. For example, most special event sweeping is done between 9 p.m. and 10 p.m., after the event is finished but before local noise ordinances kick in, which is usually around 11 p.m. If a noise ordinance is not an issue, a city or town certainly will want debris cleared by the time people begin to go to work or when downtown stores open for business.

“No two events are alike, even when it comes to sweeping up the aftermath,” said Debbie Jacketta, owner of Jacketta Sweeping Service, Inc., in Salt Lake City, Utah, and another contractor involved in special event cleanup. Her company has seen its share of cleanup work after special events that range from festivals and parades to college football tailgate parties and the 2002 Winter Olympics.

Established in 1968, Jacketta Sweeping Service started out sweeping parking lots. The company now operates a fleet of ten sweepers and provides such services as scrubbing, power washing, catch basin cleaning, striping and snow plowing.

When it comes to sweeping after special events, timing and execution are crucial, stressed Jacketta, who agreed with Doty that when you sweep is as important as how you sweep.

“You don’t want to be sweeping right after the event ends, or you’ll be dealing with traffic, congested streets and crowds,” she explained. “On the other hand, you shouldn’t wait too long after the end of the event to start the cleanup.”

Jacketta stressed the importance of coordinating with other cleaning crews on the timing of street sweeping. “We usually sweep after cleaning crews on foot have already picked up the larger debris, but in some cases, we’re also working with water trucks and dump trucks.”

After a football tailgate party, for example, Jacketta’s company sweeps the parking lot, which is inevitably littered with cans, bottles, paper, cups and other leftover items. Her company’s preferred machines for special event cleanup are the Crosswind regenerative air sweeper, the Road Wizard and the Broom Bear mechanical sweepers from Elgin Sweeper.

“The Crosswind does a great job cleaning large, flat, paved areas such as streets and parking lots, and the Road Wizard and Broom Bear both have dumping action, so waste can be easily disposed into dumpsters right there on the job,” Jacketta said.

Plan ahead in terms of getting access to the venue and the timeframe required by the sweepers to do their job. According to Jacketta, it generally takes her crew about three hours to sweep up after an event like a tailgate party or festival. “Be patient and plan on taking some extra time for sweeping after an event,” she cautioned.

While it is always easier to clean during daytime hours, Jacketta said many event sweeping jobs are done late at night or early in the morning when it is dark. It is always important to be aware of the surrounding area while sweeping, especially when lighting is limited. Jacketta also recommended having at least one extra operator available on the job to help out during sweeping.

Another expert, Bill Burkhardt, who is the street sweeping foreman for the city of St. Louis, Mo., has managed his share of sweeping projects after the city’s numerous parades. For him, the key to effective sweeping is to do it early enough after the parade has ended.

“We send our sweepers in right at the tail end of the parade,” Burkhardt said. “We treat our sweepers like they were just another float in the parade, even to the point of dressing the machines up to match the occasion, so they fit in. We have sweepers painted and decaled for every parade from Mardi Gras and St. Patrick’s Day to celebrations for the Cardinals’, Blues’ and Rams’ sports teams.”

Burkhardt said the city operates a fleet of about thirty Pelican sweepers from Elgin Sweeper. For cleanup after a parade, Burkhardt assigns a Pelican to each side of the street to pick up debris like cups, cans, bottles and confetti. While sweeping, the Pelicans perform some unique weaving and zigzag maneuvers on the street.

“Since our sweepers bring up the rear of the parade, I expect my operators to provide some entertainment for the spectators along the parade route,” Burkhardt said. “We’re proud of our Pelicans, and we like to show off the performance features of the sweepers while we’re working. We put on quite a show.”

Burkhardt said that it generally takes his crews about four hours to completely sweep up after one of the city’s parades.

To summarize, here are a few tips for special event sweeping:
* To get the contract, make sure the people planning the events know who you are.
* Be mindful of noise ordinances, after-dark lighting and other constraints you may not expect.
* Allow extra time. Crowd dispersal after a special event varies depending on traffic, weather and the event itself.
* Bring extra help.
* Have the right equipment for the job. Large sweepers are perfect for a wide parade route. Backpack-style sweepers can reach into small spaces.
* Join in the fun. If your sweeper is bringing up the rear of a parade, make sure the equipment is parade worthy. Show off your equipment and your business in a fun, festive way.

Story by Marie Elium                                       

Taxes are one of the most important issues facing small and growing businesses. And like a company’s profits, its annual tax bill will in part reflect the owner’s skills and knowledge. Business owners need to be sure that they are meeting all of their responsibilities to the tax man — and also seizing every opportunity to reduce their taxes. These tax tips will ensure Uncle Sam is not getting more than his due.

1. Writing It Off: Deductions
   Businesses can deduct all "ordinary and necessary" business expenses from their revenues to reduce their taxable income. Some deductions are obvious — expenditures in such areas as business travel, equipment, salaries, or rent. But the rules governing write-offs aren’t always simple. Don’t overlook these potential deductions:
   Business losses. Business losses can be deducted against a business owner’s personal income to reduce taxes. If a business owner’s losses exceed personal income for the year, some of the year’s business losses can be used to reduce taxable income in future years.
   Trips that combine business and pleasure. If more than half of a business trip is devoted to business, deduct the traveling costs, as well as other business-related expenses.

2. Employee Taxes
   If a business has employees, a variety of taxes will have to be withheld from their salaries. Among them are:
   Withholding. Social Security (FICA), Medicare and federal and state income taxes must be withheld from employees’ pay.
   Employer matching. Businesses must match the FICA and Medicare taxes and pay them along with employees.
   Unemployment tax. Businesses must pay federal and state unemployment taxes.

3. Quarterly Estimated
   This area trips up many an entrepreneur and is especially vexing for home-based businesses. Failure to keep up with estimated tax bills can create cash flow problems as well as the potential for punishing IRS penalties. Among the issues are:
   Who should pay? A business probably must pay quarterly estimated taxes if the total tax bill in a given year will exceed $500.
   How much should you pay? By the end of the year, either 90 percent of the tax that is owed or 100 percent of last year’s tax must be paid (the figure is 110 percent if a business’s income exceeds $150,000). Businesses can subtract their expenses from their income each quarter and apply their income tax rate (and any self-employment tax rate) to the resulting figure (their quarterly profit).

4. Sales Taxes
   Most services remain exempt from sales tax, but most products are taxable (typical exceptions are food and drugs). If a business owner sells a product or service that is subject to sales tax, he or she must register with the state’s tax department. Then taxable and nontaxable sales must be tracked and included on the company’s sales tax return.
   Having what is considered a "presence" in a state is the criteria used by the IRS to determine whether or not you are liable for paying state sales tax.
   If you do not have a physical presence in another state, but sell items via the Internet or by catalog in that state, you can be subject to a state’s "use tax," but typically not to their state sales tax. A "presence" in another state does not necessarily mean that you have a retail outlet in that state. If you have an office, warehouse, or employees working for you in that state, the IRS may consider you to have a presence in that state. Make sure you are aware of your sales tax responsibilities in all states in which you are doing business.

5. Keep Tax Documents for at Least Seven Years
   Good record keeping saves money. Some things like copies of business tax returns, licenses, incorporation papers, and capital equipment expenses should be preserved indefinitely. Keep any tax-related documents (e.g., expense receipts, client 1099 forms, and vehicle mileage logs) for a minimum of seven years.

6. Charitable Contributions
   Unless your business is a C corporation, charitable contributions typically "flow through" the business and are claimed as deductions on the individual tax returns of the shareholders of the company. That’s true whether you’re running a sole proprietorship, partnership, limited liability corporation, or S corporation.
   If you want to get the maximum tax benefits, you should know these basic rules:
   Only contributions to charities listed as "qualified organizations" by the IRS are deductible. Consult IRS Publication 78 for a list of qualified organizations or search online at the IRS home page.
   Contributions of more than $250 require a letter of receipt from the qualified organization. For contributions of less than $250, a canceled check is sufficient.
   In general, donations of property can be deducted for their fair market value at the time of the contribution. You cannot deduct a contribution that has already been written off as a depreciated asset.
   You cannot deduct the value of time or services that you volunteer.
   You cannot deduct the part of a contribution that benefits you. If you receive a gift in exchange for a charitable donation, for example, you can deduct only the amount of the contribution that exceeds the value of the gift.
   In general, you can deduct contributions only in the year you make them. Pledged contributions cannot be deducted until they are actually paid.

7. Important Tax Deadlines for Businesses
   April 15 isn’t the only important tax date for business owners. The following dates are important to keep in mind:
   Annual returns. Most annual returns are due April 15 for unincorporated companies and S corporations. C corporations must file annual corporate returns within two-and-a-half months after the close of their fiscal year.
   Estimated taxes. Estimated taxes are due four times a year: April 15, June 15, September 15, and January 15.
   Sales taxes. Sales taxes are due quarterly or monthly, depending on the rules in your state.
   Employee taxes. Depending on the size of your payroll, employee taxes are due weekly, monthly or quarterly.

8. Deducting Loans
   Most business loans are not considered business income. One notable exception is a situation in which you negotiate with a creditor or lender to reduce your debt. If any debt is forgiven, you will owe taxes on this amount.
   On the other hand, business loans can offer substantial tax benefits. The principal and interest you pay on your loan are business expenses, and you can deduct them from your taxes as such. In order to take advantage of a tax deduction, you must report the total amount of the loan, and the assets and expenditures financed must be necessary to operating the business.

9. Tax Audits
   The very thought of an IRS audit is enough to make most business owners break into a cold sweat. But not all audits are created alike: There are several different types of tax audits, ranging from simple requests for a particular piece of information to comprehensive reviews that cover every aspect of a business.
   Correspondence Audit This is a relatively simple procedure in which the IRS asks you to document an item on your return by a specified date. This is usually a routine test for compliance with certain items on your return.
   Office Audit The IRS may ask you to report to a nearby IRS office and document one or more items on your return. You may be able to send them copies of this proof in advance of the appointment and resolve the issue without actually going to the office.
   Field Audit This is the audit most people dread. The IRS will ask you to provide documentation of various items on your return and to meet with an IRS agent for a thorough review of your records. Be prepared to answer the auditor’s questions, but don’t volunteer information.
   Taxpayer Compliance Measurement Program Audit This rather lengthy and detailed audit asks you to document and prove every single item in your return. The IRS and Congress use the data from these audits for research and statistical purposes. These audits are arbitrary, and anyone can face them regardless of how carefully they prepare their tax returns.
   Criminal-Investigation Audit If you are suspected of tax evasion, the IRS will conduct a criminal-investigation audit. If they prove that you have purposefully not paid your income taxes, you can face substantial fines and even jail time. Obviously, you should retain qualified legal counsel if you face this type of audit.

10. The IRS
    The IRS small business Web site (http://www.irs.gov/businesses/small/) provides a wealth of information to small and growing businesses. There’s a section for businesses getting off the ground that includes a handing checklist and advice on choosing business structure. It’s particularly helpful on important topics such as employee taxes and business tax deductions. In addition, it has a list of small business resources with links to other government resources for small businesses.

*AllBusiness.com provides resources to help small and growing businesses start, manage, finance and expand their business. The site contains Forms & Agreements, Business Guides, Business Directories, thousands of Articles, Expert Advice, and Business Blogs. Material copyrighted by AllBusiness.com.

Susan Palmer, a certified public accountant in Paoli, Pa., has witnessed many of her clients using this financial tool. “The cost benefit is there. People use it for cash flow,” she explains. “In this economic era, it’s essential.”

A factoring company takes responsibility for accounts receivable, paying from 75% to 90% of total invoices up front. When they collect from your customer, they pay you the balance of the invoices, less their fee.

Not a Loan, Not Invoice Discounting

Factoring depends on the value of account receivables, not the credit rating of your company. A typical loan includes you and the lending institution, whereas factoring involves the customer, the factor, and your company. Rather than providing a loan, the factor purchases a financial asset. There is less documentation and no collateral required, and there are no interest payments.

Sometimes, factoring is mistakenly called “invoice discounting.” This term refers to using receivables as collateral for a loan; they are not purchased.

What Will This Cost?

To determine cost, the factoring firm evaluates your receivables based on industry averages and specific account risks. The fee is a percentage of gross accounts, rates being higher for greater account risks. Other conditions used in determining terms involve monthly sales volume and individual invoice totals. Firms also consider time commitments to receivable sales. The factoring group may have a service charge in addition to interest fees, based on how long they must wait to collect payment.

Factoring groups offer varying arrangements. Non-recourse factoring is full purchase of accounts receivable, including the risk of nonpayment. Recourse factoring, on the other hand, means your company will be responsible for reimbursing the factoring company if the customer does not pay.

The Plus Side

There are several advantages to factoring. Factored cash is fast cash. It ensures consistent cash flow, especially important to businesses with cyclical sales. This facilitates financial planning by improving accuracy.

It’s also a viable financial tool for new businesses, since banks have stringent requirements for income history. Factoring is based on invoices from income already generated. For more established businesses, this method can increase capital available for growth without incurring debt.

Factoring accounts receivables removes bad debt from income statements; you can structure the arrangement so a third party assumes the risks of bad debt. Thus, business equity remains stable.

Another advantage is that you receive funds as soon as you invoice, as if the customer is paying cash at a discounted rate. In turn, your company can receive early-payment and volume discounts with your suppliers. You can offer credit terms as incentives to customers without impacting cash flow. Plus, it keeps debts current, saving money on interest and past-due fees. You also save time and labor costs that would be spent in collecting outstanding invoices, which can give you a substantial savings on overhead costs.

The Minus Side

There are also, however, some disadvantages to factoring. Since you receive a lower amount than the total revenue owed, factoring is more expensive than borrowing money, although it could be cost-effective in the long term. Since costs can run high, limit the amount factored to the minimum necessary for healthy cash flow.

There is the potential for customers to be upset about third-party collection attempts. Be clear when interviewing factoring firms about your expectations for customer communication, and understand the steps that the company will take to collect amounts owed. Reputable firms are professional about contact and can often encourage customers to pay faster than they might if they were paying you directly.

Additionally, customers may not want another company investigating their financial conditions and contacting them about amounts due. A factoring firm could require that the customer pay them directly, which could damage your customer relations. If you feel that your customers might react negatively to this requirement, consider negotiating against this practice.

Accounts receivables will not be available as collateral if you would also like to pursue a business loan, although having a history of consistent cash flow will help secure a loan in the long run.

How to Find a Factor

Palmer says that factoring has traditionally been used in manufacturing and wholesaling. “It hasn’t been used as much in services industries. People relate it to the manufacturing or wholesale process, when you have an inventory to maintain,” she explained.

Check with your commercial bank to determine if they have a division offering factoring services. Ask your Chamber of Commerce and other businesses in your area for recommendations.

Factors can vary in size, some operating locally and others dealing regionally or nationally. There are also companies that offer online quotes. Stick with firms that have good records and be certain to compare the terms of several different companies.

As you consider your options for increasing cash flow, contact the Small Business Administration, which offers workshops on factoring and other cash-flow solutions.

Factoring can free up your management and marketing team to expand your business and increase sales. In today’s volatile economic climate, factoring may increase your ability to profit from opportunities that might be missed due to lack of available cash. Check with your financial advisor to determine whether or not factoring makes sense for your business.

With regard to factoring, Palmer remarks, “I’m pro anything that keeps my clients floating.”

Story by Catia Whitmore

For established sweeping contractors, however, this infusion of seat-of-the-pants entrepreneurs has muddied the competitive waters considerably. Talk to almost any of them, and you’ll hear grumbling. Without having to pay salaries, workman’s compensation, or all the other joys of a "grown-up" enterprise, these newcomers are perceived as having an unfair advantage.

So how do you deal with competition, new or otherwise? Here are a few suggestions, gleaned from conversations with sweeper company owners.

1. Realize that time will take care of the problem. Most of these one-machine/owner  operator outfits will self-destruct as soon as their equipment begins to need expensive maintenance.
2. Don’t sink to the lowest common denominator.

   "When it’s time to put in a bid," said Gary Frantz, owner of Swift Sweeping in Athens, GA, "I don’t worry about what the other people are doing. I figure out a price that will be fair, but still let me make a profit. If that doesn’t get the job, so be it.

   "I’ve had people call me and say,’So and so put in a bid that’s a lot less than yours, but we’d really like to work with you. Can we negotiate?’ And I’ll tell them, ‘I’m afraid not. When I put in a bid, it’s for what I can afford to do the job. I can’t go under that.’"

3. Go face-to-face. Once a business owner knows you personally, it’s harder for him or her to cast you aside in favor of someone cheaper.
4. Diversify. Any chance you could get into parking lot striping or seal coating or pressure washing? Come spring, could you do landscaping? Business owners like it when one phone call can take care of several problems.
5. If you can’t beat them, join them. Or, rather, get them to join you. Some of these small outfits might feel more comfortable working under a larger umbrella, so you might see if they’d like to work with you.
6. Do your maintenance in-house. If you have a lot of machinery, this might be well worth paying the salary of a mechanic.
7. What about a satellite? If you can find an area not heavily served by sweepers but a bit of a distance from your home base, see if you can find a place to keep a sweeper there. That will save you a lot of gas, and the operator can drive his car to the site.
8. It goes without saying, but treat every job as if it were your only one. That way, your customers won’t have an excuse to "downsize."