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WORTH READING

Selections from the best articles seen online this month.

The McRib's Magic Marketing Sauce
from Inc.com
 
For years the McRib has periodically reappeared on menus at McDonald's, never staying in one place for too long. McDonald's uses McRib sightings as quirky promotional events, an effective marketing strategy that combines the appeal of exclusivity, scarcity and seasonality. Limited-time-only campaigns generate buzz and excitement but work only if the product is well-known and the promotion is short term.

10 Management Myths
by Gravitas Business Architects

There's risk to adopting every new bright idea or management theory that comes along. So-called best practices may actually be bad habits. Take the open-door policy. It can be a source of constant interruption and an excuse for your reports to bother you when they ought to be handling things on their own. The same can be said for open-office concepts, which tempt workers to spend time talking instead of working.

BOOK REVIEW
How to Win Friends and Influence People

Dale Carnegie's book isn't new: It was first published in 1953.

But that doesn't mean its advice is passé. Indeed, it's one of those evergreen books that smart business owners would be wise to pick up and leaf through at least once every year.

At the heart of the book is the advice that if you are interested in other people, they will be interested in you. If you take the time to listen and really understand someone, he or she will like and respect you.

This advice, of course, is critical for anyone in sales. The best salespeople know that asking questions and then shutting up is the fastest way to build rapport. And because people do business with people they like, having a good relationship with your clients and prospects will lead to more sales.

The book is golden, whatever your role in a business. Indeed, it's valuable for life in general. Who doesn't want more friends and more influence?

Ken Blanchard is the author of The One Minute Manager.

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FINANCE
HOW TO HIRE THE RIGHT BOOKEEPER

You cannot win a band competition without instruments, and you cannot succeed in business without a bookkeeping system.

Hiring a bookkeeping service is normally the best choice for every business that isn't large enough to have a bookkeeper on staff.
Attempting a shortcut by assigning bookkeeping to an untrained employee as a side duty is a recipe for disaster. A sound bookkeeper is identifiable as conducting the work using the right processes.

Reliable bookkeeping services create a system of verification and reconciliation. This ensures data integrity. Bookkeepers accomplish this by comparing your accounting to statements and reports from financial institutions.

Good bookkeepers know the effects of debits and credits, because bookkeeping challenges arise frequently. You want a bookkeeper who’s capable of sound thinking and determining solutions.

Excellent bookkeepers also understand the big picture in order to coordinate with your certified professional accountant at tax time. Superior bookkeeping demands attention to details by professionals who aren't afraid to ask questions so that transactions are accurately recorded.

A high-quality bookkeeper doesn't need an extensive academic record in accounting. More important than formal degrees are experience and familiarity with your industry.

The best bookkeepers are also proficient with technological tools.
Therefore, be sure to ask about the bookkeeping software used and confirm that it renders the reports you expect. Discuss when and how you'll obtain needed reporting.

MARKETING
CUSTOMERS WILL ADORE YOU WHEN YOU DO THESE THINGS

Business owners can get customers to fall in love with their company - and boost their bottom line - by going the extra mile, creating a connection and giving clients a reason to return.

Many successful entrepreneurs and companies have adopted the strategy.

Take award-winning Laguna Beach interior designer Rejoy Geehan. She treats her clients like royalty from beginning to end.

From arriving to a first meeting with a small housewarming gift to following up with a thank-you card, Geehan turns a business transaction into a warm relationship.

PR titan Cerrell Associates, whose founder Joe Cerrell worked closely with former President John Fitzgerald Kennedy, draws on that connection to boost business.

Connecting a story or a heart-filled past with your present business is a sure way to create loyalty.

Getting customers to fall in love with your business or products is also about the simple things.

Netflix understands this golden rule. The company rose to the top and stayed there (at least until recently) because of the simple principle of making their service easy to use.

Netflix has a superb website, easy-to-find contact information, and a local call center so customers reach real people and not some poorly staffed overseas office.

From a small-business owner to a midsize or big business, creating loyalty is all about making your customer fall in love with your company and brand in some way.

HUMAN RESOURCES
FOCUS! 3 WAYS TO DEAL WITH DISTRACTED STAFF

Workplace distractions can take a costly toll when they are not managed properly.

It's important that business owners stay on top of the problem.
Following are the three biggest distractions and what business owners can do about them:

1. Personal Technology

Management shouldn't have a "no personal phone use" rule.

You don't want employees to feel like coming to work is a daily sentence. Overly strict rules also kill creativity.

Instead, encourage the use of personal technology like cell phones and social media.

Web browsing should be kept brief and to a minimum. If you notice it getting out of hand, distribute a company memo.

If an employee still doesn't adhere to management guidelines, then it's time to have a one-on-one chat.

2. Time Management

If keeping track of time is tough for your employees, especially with multiple deadlines and tasks, then suggest free time-tracking tools like ClockingIT or schedule management tools like Evernote.

3. The Chatterbox

There's always one chatterbox who's like a sinking ship that drags down other coworkers, most of whom feel awkward listening to boring tales about the chatterbox coworker’s private life.

Set up the workplace so that if an employee turns his or her head it doesn't give him or her access to a coworker.

The more employees have to go out of their way, even move their bodies away from their desks to engage in conversation, the less likely they are to indulge in gossip and unnecessary chatter.

FINANCE
4 QUESTIONS TO ASK YOUR ACCOUNTANT

The allure of software for completely in-house bookkeeping and tax return preparation is a constant temptation to small-business owners.

Unfortunately, the odds are against a mere software purchase achieving financial paradise.

Bookkeeping software is only as reliable as the input. A substantial number of business owners don't understand double-entry bookkeeping.

Likewise, tax preparation software helps prepare accurate tax returns only when the input correctly follows tax rules.

Tax software doesn't know what expenses a business incurred. It cannot judge whether eligible expenses are entered in the correct categories. Tax specialists are valued because of their knowledge, especially regarding complex matters for businesses.

Working with accounting professionals is almost always the right strategy for business owners. But tax accountants and bookkeeping services may not automatically convey all details about the nature of your relationship with them. So, you have to inquire about these issues.

Following are four things to ask your accountant:

1. Ask your accountant what substantiation you need for certain tax deductions. Some items require distinctive supporting documents. For example, reimbursements for business use of a personal vehicle necessitate a mileage log with specific details. Also, large payments to contract labor demand that the business issue a Form 1099 to each worker. You also need to know how much of your documentation you need to provide for preparation of tax returns or financial statements.

2. Ask if your accountant will notify you of any questionable matters on a tax return. For example, an expense category for utilities without any office rent is a likely error. Utilities for a home office are a separate matter from ordinary business expenses. Make sure that your accountant identifies situations where the basis for a deduction seems unsound.

3. Find out what privileged disclosure is available with your accountant. A limited privilege is available with certified professional accountants and other tax practitioners authorized by the Internal Revenue Service (IRS). This is not the same as privileged disclosures with attorneys, which are a fully protected right of common law. Privileged disclosure is important because it affects the facts you are willing to present in order to obtain advice. Accountants can assert privilege only in civil matters brought before the IRS or federal courts. It does not apply to criminal proceedings, state taxes, preparation of tax returns or civil proceedings that involve tax shelters. Be sure to identify the professional credentials possessed by the individuals with whom you communicate about your taxes.

4. Ask your accountant about who is actually preparing your tax return. At firms with large staffs, your tax return is likely delegated to young associates or even a temporary employee. This is not necessarily bad, but you should find out. As long as your accountant is signing the tax return, you can rest assured that the signer is at least reviewing any preparation work by someone else. Make sure that your accountant is responsible for any mistakes in reporting figures you accurately present.