THRIVE, a Paychex Business Podcast
How is Colorado Gov. Jared Polis Attracting Businesses to His State?

How is Colorado Gov. Jared Polis Attracting Businesses to His State?

April 5, 2022

Jared Polis, Governor of Colorado, and an entrepreneur in his own right, joins the show to discuss the ways his state is helping small businesses succeed. Some initiatives include reducing fees startups would pay to incorporate, temporarily waiving state sales tax for restaurants to offset pandemic pressures, and encouraging apprenticeships to help job seekers upskill into open work roles. Hear how PPP loans have sustained Colorado businesses, the $6 billion in venture capital attracted last year, and what Gov. Polis (D-CO) sees as additional opportunities to ensure a robust recovery.  

Topics include:

0:58 - Colorado reduced business personal property tax
1:34 - Will it be free to start your business there?
2:53 - Many CO businesses received PPP loan support
3:22 - Restaurant sales tax waived for several months
3:57 - Consumer behavior a factor; PPP led to robust recovery
4:52 - Colorado seeking to reduce fees, suspend gas taxes, more
6:14 - Polis urging flexible hiring, ex: 2 PT hires fill 1 FT post
7:49 - Apprenticeships also key in CO workforce readiness
8:37 - Most CO employers paying well above minimum wage
9:42 - Multiple factors attracting startups to Colorado

Resources:

Gov. Polis shared how many Colorado businesses are paying above minimum wage to attract skilled workers. If you employ workers in or from Colorado, read our recent article on changes in some minimum wage provisions that may apply to you at www.paychex.com/articles/compliance/colorado-minimum-wage-order.

Does Colorado’s Equal Pay for Equal Work Act apply to your business? Read our article to learn more at www.paychex.com/articles/compliance/colorado-equal-pay-act.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Shrinkflation, Communication, and Other Tips to Handle Inflation

Shrinkflation, Communication, and Other Tips to Handle Inflation

March 31, 2022

You hear it every day in the news: rising prices, inflation. Don’t just ride it out in 2022. Be proactive to help your business. This episode of “On the Mark” touches upon several tips that can serve your business in navigating inflation, including raising prices strategically using data on specific product lines, over-communicating with customers about raising prices, practicing “shrinkflation” — charging the same price for less product — and most importantly, according to host Gene Marks, buying inventory now. Listen to this week’s podcast.  

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

New Security Threats in our Work-From-Home Era

New Security Threats in our Work-From-Home Era

March 29, 2022

Today’s businesses face cyber security threats from almost every side: phishing emails or SMS texts, malware, ransomware, and the added vulnerabilities of remote or hybrid employees’ home networks. Hear from Daniel Clayton, Vice President of Global Services and Support at Bitdefender, a 20-year cyber security company, the current threats that need to be on your business radar, and even how to approach speculation around a Russian cyber attack. And learn why basic protections such as multifactor authentication, device management and monitoring, and employee training, can be some of your wisest investments to mitigate business security risks.

Topics include:

0:44 - Background on Bitdefender and its service arm
3:16 - What can Bitdefender provide for a small business?
5:10 - XDR data provides security vision inside the cloud
5:59 - Potential for Russian cyber attacks?
7:28 - Beware of "help Ukraine" phishing schemes
9:44 - What risk do new third-party payment verification regulations pose?
12:41 - How to improve security while working from home
16:01 - Need for network monitoring
19:21 - Potential risks in supplier parts, home networks, etc.
22:06 - SMBs should focus on multifactor authentication, other basics
23:00 - Security measures to use when traveling

Resources:

How can a cyber security plan boost your productivity while defending your business? Read our article at www.paychex.com/articles/management/cyber-security-and-a-secure-business.

Explore whether cyber liability insurance may benefit your business. Visit our information page at www.paychex.com/business-insurance/cyber-liability-insurance.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Don’t Be Idle: Check Out SBA Loan Deferment, a Study on Return to Office, and Training Paid by Your State

Don’t Be Idle: Check Out SBA Loan Deferment, a Study on Return to Office, and Training Paid by Your State

March 24, 2022

Businesses that borrowed funds from the COVID-19 Economic Injury Disaster Loan program since 2020 will have extra time to begin repayment after the SBA extended the deferment period. Host Gene Marks talks about the benefits to small businesses, while also sharing insights on a Microsoft survey that showed 50% of leaders wanted their employees back in the office. What is your business doing to remain flexible? Also, some states are reimbursing businesses for getting employees trained in courses provided by the state.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Suzanne Somers on Growing Yourself and Your Business

Suzanne Somers on Growing Yourself and Your Business

March 22, 2022

Sometimes our worst losses are opportunities in disguise. So says Suzanne Somers, of “Three’s Company” TV fame, who went into business for herself after show producers terminated her contract when she asked for equal pay. An influencer before the term was invented, her many business endeavors — from the Thigh-Master and Somersizing cruises, to multiple books and organic wellness products, cemented her reputation as a savvy entrepreneur. What insights can business owners like you glean from her experience? And how is her passion for physical health and well-being foundational to her success? Don’t miss this intriguing conversation.

Topics include:

1:20 - Website and brand a natural outgrowth of books
4:58 - TOX-SICK book and origins of Suzanne Organics
6:44 - More interesting, and more alive than ever
7:14 - Self-taught, honorary doctorate awarded for books
10:00 - Discovered in 1973 by Carson; early acting years
12:18 - Pivoting from acting to business, loss of TV contract
13:51 - Self-employed; the shoes and ad that launched Thigh-Master
16:40 - Opportunities in disguise, birth of a wellness brand
19:36 - Quality standards, partnering with doctors and scientists
25:30 - Advice for young entrepreneurs
27:21 - How did she assess the marketplace?
30:10 - Getting help for yourself ... self-confidence ...
34:10 - Leveraging social media to reach followers
35:34 - Surrounding yourself with skilled helpers
38:24 - What's next for Suzanne?

Resources:

How can you ensure your customers embrace your business’s brand online? Read the eight steps we recommend at www.paychex.com/articles/marketing/cementing-your-business-brand-online.

 If you’re just starting as an entrepreneur, how can you position your business as a leader in cost, services, or innovation? Review our guidelines at www.paychex.com/articles/startup/brand-positioning-strategy-guides.

Have a guest or topic idea for the show? Submit your suggestions at: http://payx.me/thrivetopics

Check out how Suzanne markets her books and organic products online at: http://SuzanneSomers.com

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Remote Work’s Widespread Impact, Passwords are the Past for Information Security

Remote Work’s Widespread Impact, Passwords are the Past for Information Security

March 17, 2022

With 94% of employees in a recent survey indicating that they can do their work from anywhere, host Gene Marks says employers must be flexible to lessen the impact on recruitment and retention, plus aware of compliance issues involving taxes. He also talks about customer preference for Advanced ID techniques to keep their information safe and government’s push to punish those who accessed funds fraudulently and skirted laws during COVID-19. 

Resources:

Read how the hospitality and related industries could face hefty fines for failure to adhere to California’s Right to Recall Law at www.paychex.com/articles/compliance/california-right-to-recall-law.

Learn some simple, low-cost approaches to improving employee retention at www.paychex.com/articles/human-resources/creative-employee-retention-ideas.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

How Spotify Amplifies Business Messaging for SMBs

How Spotify Amplifies Business Messaging for SMBs

March 15, 2022

Looking for unique, targeted strategies for digital marketing to reach niche audiences for your business? Spotify's popular music and podcast streaming app has become an emerging promotional channel for small- to mid-size businesses (SMBs). Hear Rochelle Sanchirico, global director for SMB marketing for Spotify, describe how its self-service Ad Studio and $250-$500 points of entry offers SMBs a competitive option. Learn how Spotify's audio, video or podcast ads, metrics, and even third-party verification tools can help small business owners like you leverage this streaming service to amplify your messaging.

 Topics include:  

0:55 - Rochelle's background in marketing, SEO, SMBs and more 
2:29 - Why audio ads stand out on Spotify
3:44 – Building ads with Spotify's self-serve Ad Studio 
5:45 – 190 million ad-supported accounts to target 
7:36 - How to target a B2B niche audience: one example 
9:36 - How does Spotify produce ads for businesses? 
11:31 - "I Love Small Biz NYC" educates and empowers 100 SMBs  
13:11 - Costs per CPM to advertise on Spotify 
14:54 - Can metrics be verified? If so, how?  
16:59 - Podsights and Chartable third-party verification just acquired 
18:22 - The value-add: "... where Spotify really shines is ..." 

Resources:

Before you start messaging for your business, you need to master your Unique Selling Proposition (USP). Read our article for tips at www.paychex.com/articles/marketing/do-you-know-your-unique-selling-proposition.

Have a guest or topic for the show? Submit your ideas at: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

 

Hot Topics Gain Energy: Paid Family Leave, Gas Prices, Cybersecurity, and Women Entrepreneurs

Hot Topics Gain Energy: Paid Family Leave, Gas Prices, Cybersecurity, and Women Entrepreneurs

March 10, 2022

As several states and Washington, D.C., revisit and extend their paid family leave laws, this “On the Mark” podcast offers insights on how more states might take similar action. Host Gene Marks also favors buying inventory now to offset rising oil prices, the hiring of an IT person to ramp up workplace cybersecurity, and for women entrepreneurs to band together to increase success. Listen now

What can your business do to protect itself from cyberattacks? Read about some dos and don’ts at www.paychex.com/articles/management/cyber-security-and-a-secure-business.

Paychex debuts its Women-Owned Business Series. Learn how one physical therapist alleviates pain while pursuing her passion at www.paychex.com/articles/client-spotlight/trumble-physical-therapy.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

 

Mind, Body, Spirit. Empower Your Business with Mental Wellness

Mind, Body, Spirit. Empower Your Business with Mental Wellness

March 8, 2022

As an entrepreneur, how can you fuel personal and professional success for yourself, your team, and your business? According to Bershan Shaw, an international motivational speaker, business coach, author, entrepreneur, and tech founder, also seen on “Real Housewives of New York City,” the source is mindset, mental health, and motivation. Hear how this two-time breast cancer “thriver” developed the “URAWarrior” mindset and how committing to mental, physical, and spiritual health has fueled success for herself, her team, and her multiple business endeavors. Learn more about her mental wellness app, URAWarrior, and the advice she offers business owners on vision, passion, teamwork, and the daily tools that help you thrive.   

Topics include:

0:39 - What is the URAWarrior app and method?
2:48 - Mental health for business owners
5:24 - B2B partnerships in place and available
6:17 - Warrior Training International
7:50 - Unstoppable Warrior Woman book and stories
8:33 - How cancer catapulted Bershan forward
11:32 - Mind, body, spirit, business ties together
13:46 - Valuing, motivating, leading your team
15:54 - Delegation and vision fuel entrepreneurship
18:42 - Advice to empower young entrepreneurs

Resources:

Should your business offer a mental health and wellness program to employees? Explore benefits and best-practice guidelines in our article at www.paychex.com/articles/human-resources/creating-mental-health-programs-at-work.

Sign up for updates on the launch of Bershan’s mental wellness app, URAWarrior at: https://urawarrior.com/

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Manufacturing and Confidence Are Up, Ability to Get Bank Loans Down

Manufacturing and Confidence Are Up, Ability to Get Bank Loans Down

March 3, 2022

Monthly indexes indicate that manufacturing continues to increase and 90% of small-business owners surveyed are confident that 2022 will be better financially than 2021. However, traditional funding remains hard to secure. Host Gene Marks shares insights about what this means for businesses, as well as a story on how one employer is approaching employee demands for better mental health benefits in a unique way. Listen in as this week’s episode of “On the Mark” provides more details.      

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Social Media Influencers: Business Help or Hype?

Social Media Influencers: Business Help or Hype?

March 1, 2022

Influencer marketing has exploded in recent years, but how can small businesses assess whether a social media influencer would benefit their brand? And what influencer marketing KPIs indicate success? Jim Tobin, founder and president of Ignite Social Media, has operated his agency for 15 years. Hear his insights on the variables that can determine the reach, impact, and viability of influencer platforms and campaigns, in both B2C and B2B markets. And learn how your products, services, budget, and timeline should help direct whether you pursue other online marketing options, including paid, organic, content marketing, or search.

Topics include:

1:17 - What is social media marketing?
2:39 - Paid vs. organic social media promotion
4:19 - Can influencer marketing work for small businesses?
7:58 - Finding a social media influencer in your industry
10:17 - Good content can trump influencer reach
12:16 - Influencer success story vs. ...
13:59 -  … influencer catastrophes
16:03 - Variable costs of hiring an influencer
19:47 - What industries fare better with influencers?
20:28 – B2B brands may fare better with blogs, YouTube videos, search 

Resources:
Learn more about Ignite Social Media at www.ignitesocialmedia.com.

Could blogging be a cost-effective way to market your business through social media? Read our article for tips at www.paychex.com/articles/marketing/blogging-benefits-for-small-business.

Suggest a guest or topic for the show. Submit your ideas at: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

 

Californians Seek $18 Minimum Wage, Maryland and Atlanta Businesses Might See More Relief

Californians Seek $18 Minimum Wage, Maryland and Atlanta Businesses Might See More Relief

February 24, 2022

Californians seeking signatures to get a measure on November ballot that would raise minimum wage to $18 an hour. Host Gene Marks says, according to elected officials, that’s most likely going to be a local level decision, although it might prompt more talk to increase the federal minimum wage. This week’s “On the Mark” podcast also looks at how elected officials in Maryland and Atlanta, Georgia are trying to get small businesses more relief funds to offset lingering effects from the pandemic.  

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

4-Day Week Pilot Programs Igniting Interest

4-Day Week Pilot Programs Igniting Interest

February 22, 2022

Think you know what a “4-day work week” means? Think again, says Joe O’Connor, Global Pilot Program Manager for 4 Day Week Global, a non-profit coalition operating pilot programs for businesses worldwide that creates 32-hour work weeks across an organization while maintaining or improving productivity. When business leaders understand the shared goals are quality output and deliverables (for a company) in fewer working hours (for employees), both can embrace the concept as a win-win, Joe says. Hear him share research origins fueling the concept, the momentum building worldwide, how pilot trials are customized for each company, and how businesses like yours can explore joining one in coming months. 

Topics Include:

0:24 - What is 4 Day Week Global?
1:51 - Not a focus on time, but productivity
3:58 - Does "4-day week" need rebranding?
8:17 - Impact on recruiting (younger) talent
11:22 - Engaging your full workforce in a trial is critical
14:23 - Current momentum in 4-day pilot studies
15:57 - How your business can join a trial program
17:28 - How custom schedules might look

Resources:

As businesses emerge from the pandemic, how are employers striving to increase productivity while addressing other factors inherent in remote or hybrid operations? Find helpful tips in our article at www.paychex.com/articles/human-resources/improve-employee-productivity-in-workplace.

 

What are best practices around effective time management as businesses look to increase productivity? Review the guidelines at www.paychex.com/articles/hcm/effective-time-management.

Could revamping the office — or home office — environment help boost productivity? Find insights in our article at www.paychex.com/articles/management/office-environment.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

 

Masks Down in U.S., Jobs Up in Texas and Tax Savings Golden for Some California Businesses

Masks Down in U.S., Jobs Up in Texas and Tax Savings Golden for Some California Businesses

February 17, 2022

Many of the holdouts on maintaining mask mandates have pulled back and hopefully it will spur more job growth in crucial industry sectors of hospitality. Meanwhile, business is booming in Texas around construction, although salary increases lag, and California restaurants and entertainment venues could see savings at tax time involving COVID-19 funding. Listen as Gene Marks offers his take on this week’s episode of “On the Mark.”

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Reshaping HR Norms to Meet New Workplace Needs

Reshaping HR Norms to Meet New Workplace Needs

February 15, 2022

As employers face the ongoing labor shortage, compounded by the Great Resignation, they’ve got new lessons to learn about recruiting, retaining, and managing employees today. So says Jack Kelly, longtime CEO with the Compliance Search Group, and CEO of WeCruitr.com, which launched at the start of the COVID-19 pandemic. How are businesses managing remote employees or hybrid workers? Why is geographical diversity important? How do employee expectations vary across multiple generations? Further, what strategies can companies use to boost employee engagement? This soup-to-nuts overview of the new HR landscape offers key concepts and strategies for business leaders today.      

Topics include:

0:46 - How WeCruitr.com got its start
2:40 - New blueprint from Danish CEO for recruiting and retention
4:09 - What is psychological safety for employees?
5:02 - How should employers handle sub-par performance?
7:54 - Today's hybrid workplace variables
13:54 - Diversity goes geographic
15:56 - Collaboration challenges in a distributed workforce
18:14 - Keeping employees engaged, celebrating achievements

Resources:

Find best practices to build a strong work culture for remote employees in our article at www.paychex.com/articles/human-resources/how-to-build-culture-in-a-remote-team.

Wondering how to strengthen your workforce through diversity recruiting? Review guiding concepts in our article at www.paychex.com/articles/human-resources/diverse-recruiting-strengthens-workforce.

Check out the Forbes.com article written by Jack Kelly on work practices in Denmark at: www.forbes.com/sites/jackkelly/2022/01/04/leadership-lessons-from-the-happiest-place-in-the-world

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Surveys: Gen Z Likes Shopping Around — For Jobs and at Stores

Surveys: Gen Z Likes Shopping Around — For Jobs and at Stores

February 10, 2022

According to several recent surveys reported in various outlets, members of Gen Z like to shop, including 65 percent who said they’d be looking for a new job this year and then nearly 50% who indicated that they preferred going to stores to buy goods rather than online. Gene Marks takes a look at why this might be the case and offers insights on how your business can take advantage of this information. Check out this week’s “On the Mark” podcast for more details.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Buy or Sell an Online Business in the Virtual Marketplace

Buy or Sell an Online Business in the Virtual Marketplace

February 8, 2022

To sell a brick-and-mortar store, you need a real estate agent, but if your company only exists online, you need Flippa. As the virtual realtor for online businesses, Flippa listings include blogs, mobile apps, Shopify or Fulfilled by Amazon stores, SaaS companies, and more. CEO Blake Hutchison visits the show to share insights on evaluating virtual business assets, documenting profits, current trends in the sale of digital real estate, factors that impact selling price, and more. Learn how Flippa connects buyers and sellers online and fills a new niche in the digital age.
 
Topics include:

2:20 - Blake's career journey
5:32 - What Flippa is and how its marketplace works
6:56 - Unique aspects of selling an online business
8:24 - What businesses are best-sellers on Flippa now?
9:52 - Nuances of selling a business on Flippa
11:26 - Four factors that increase valuation
14:42 - Business longevity, net profits impact selling price
17:12 - Documentation buyers will need to see
19:51 - Buying assets only vs. buying organizations
21:19 - Three ways Flippa sales and commissions work
24:04 - Do business owners "flip" companies on Flippa?

Resources:

How can your business cement its brand online? Learn helpful tips at www.paychex.com/articles/marketing/cementing-your-business-brand-online.

If you run a microbusiness and want to better compete online, review our guidelines at www.paychex.com/articles/marketing/6-online-microbusiness-strategy-tips.

Have a topic or guest to suggest for the show? Submit your ideas to: http://payx.me/thrivetopics

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Take Control of Your Domain: Get a Masking Policy, Secure a URL for Your Website

Take Control of Your Domain: Get a Masking Policy, Secure a URL for Your Website

February 3, 2022

If you’re living in a state such as New York where politicians and the courts are playing ping-pong with the masking policies, it might be a good idea to develop a policy that let’s customers and employees know safety is a priority. Gene Marks discusses the topic on this week’s episode of the “On the Mark” podcast, as well as offers insights on how get a website domain name for your business — from good resources to alternative URL endings. Check it out.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Wells Fargo Grants Put “Hope” In Small Business Success

Wells Fargo Grants Put “Hope” In Small Business Success

February 1, 2022

Wells Fargo’s head of small business banking, Derek Ellington, visits the podcast to share how the “Hope, USA” grant program and the Open for Business Fund are investing in small businesses to promote economic growth. While the “Hope, USA” initiative has helped revitalize and beautify 16 community business corridors across the country, the Open for Business Fund is investing some $420 million in programs to help support small businesses impacted by the COVID-19 pandemic. Hear more about these funding programs, and the opportunities Derek sees for business owners to access banks and bankers for ongoing advice.

Topics include:

2:18 - Derek's role at Wells Fargo
3:42 - Is it a good time to be a small business?
6:14 - What red flags could hamper SMBs from accessing traditional bank loans?
10:06 - Goals of the Hope USA initiative to transform select shopping districts
13:23 - Hope USA partners applicants with a local nonprofit
15:06 - Open for Business Fund also supports SMBs
19:48 - Bankers can support SMBs with regular dialogue, networking introductions, more
24:09 - Why has Wells Fargo launched this initiative?

Resources:

How can your business prepare to seek financing and improve your odds of securing this critical support? Read our article at
www.paychex.com/articles/finance/securing-small-business-financing.

Where can you find alternate funding sources for your small business? Review your options at
www.paychex.com/articles/startup/small-business-funding-need-to-know.

What topic or guest would you like to see on the show? Submit your ideas to: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

 

Struggling to Recruit? Consider Benefits of a Four-Day Work Week

Struggling to Recruit? Consider Benefits of a Four-Day Work Week

January 27, 2022

A study in Iceland has sparked several countries, a few international companies and several in the United States to pilot and even implement a four-day workweek. And guess what? Productivity is up and morale is following. Host Gene Marks shares his thoughts on how this trend might be a solid recruitment tool during a labor shortage and a no-cost benefit that changes how businesses operate. Listen to this week’s “On the Mark” podcast.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

CRM: Maxing Out the Value of a Critical Business Tool

CRM: Maxing Out the Value of a Critical Business Tool

January 25, 2022

Many businesses depend on customer relationship management (CRM) software to generate sales leads and track client responses. But do these systems garner maximum benefit across a company, with user ease at the forefront? Hear Copper, Inc. CEO, Dennis Fois, describe why its CRM software is built around Google Workspace, and the benefits seen when a CRM complements user productivity. Learn why he advocates centralizing customer data away from email inboxes, and why the nature of your business model — transactional vs. relational — should direct what CRM you use.

Topics include:

3:02 - How does Copper differ from other CRMs?
5:27 - Why and how Copper integrates solely with Google Workspace
9:07 - Shifting from process software to productivity software
12:58 - Are industry-specific (vertical) CRMs necessary?
15:54 - ROI: business growth, existing customers, IP losses with employee turnover
26:50 - The value of top-down company commitment to a CRM
30:43 - Why CRMs need more focus on ease of use
33:01 - AI impact on CRMs, labor force, and decision-making

Resources:

How do customer relationships impact your business and how can you continually improve them? Read our article at www.paychex.com/articles/management/microbusinesses-build-customer-relationships.

In today’s online business environment, how can you nurture customer sales leads to a successful close? Learn more at www.paychex.com/articles/startup/tips-for-closing-a-sale-focus-on-customer.

Want to suggest a guest or topic for the show? Submit your ideas to: https://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Think Smartly About Your Startup, Think Safety Around Your Workplace

Think Smartly About Your Startup, Think Safety Around Your Workplace

January 20, 2022

With 5 million applications for startups filed in 2021, the key to any initial success sits squarely in how you prepare before you start. Gene Marks shares advice in this episode of the “On the Mark” podcast, including surrounding yourself with good advisors and proven resources, setting realistic goals around a solid plan to make money, having enough money to make a two-year go at it and being committed to making it work. Also, as the COVID-19 pandemic continues to impact businesses, Gene suggests a few tips for making your workplace safe for employees and customers in light of recent rulings by the U.S. Supreme Court on vaccination and testing.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

NBA’s Grant Hill’s All-Star Support for Minority-Owned SMB Grant Program with LegalZoom

NBA’s Grant Hill’s All-Star Support for Minority-Owned SMB Grant Program with LegalZoom

January 18, 2022

NBA Hall of Famer Grant Hill visits the show to introduce LegalZoom’s Fast Break for Small Business program benefitting minority-owned businesses with funding grants and legal services through a $6M, multi-year initiative. The program supports SMBs led by Black, Latino, Asian, female, immigrant, and LGBTQ+ owners with access to capital, and expertise in legal, accounting, and regulatory services from a network of professionals. Hear how Grant’s family history of entrepreneurship and business experience as co-owner of the Atlanta Hawks spurs his support, and his invitation to women- and minority-owned businesses to pursue these new resources.

Topics include:

2:25 - LegalZoom's $6M partnership initiative for SMBs
3:30 - Family roots of entrepreneurship
4:58 - Access to capital, a professional network, and legal/accounting resources
9:49 - Lessons learned from co-owning the Atlanta Hawks
11:45 - Parallels between athletics and business
13:10 - Grant's personal role, connections, in the Fast Break network
16:12 - "What if?" business alternatives outside athletics
18:12 - His mother's business legacy
24:41 - Final pitch for Fast Break for Small Business

Resources:

Learn more and sign up for email alerts to apply for the next round of Fast Break for Small Business grants by visiting www.legalzoom.com/fastbreakforsmallbusiness.

What tech-based business solutions from Paychex could meet your small business needs? Explore our offerings at www.paychex.com/business-solutions/small-business-solutions.

What guests or topics do YOU want to hear on THRIVE? Submit your suggestions to us at: payx.com/thrivetopics

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Tax Reporting Change Kicks In with 1099-K: IRS Knows When You’re Using Payment Services

Tax Reporting Change Kicks In with 1099-K: IRS Knows When You’re Using Payment Services

January 13, 2022

Small business — particularly freelancers and independent contractors — who use PayPal, Venmo, Zelle or other digital payment services to put money in their accounts will have such transactions reported to the IRS by the third party if the amount totals $600 or more in a given year. They’ll also receive a 1099-K, starting in 2022, which means the IRS will know the income earned and businesses will be responsible to pay taxes on such income. Listen as Gene Marks shares more insights on the change in this week’s episode of the “On the Mark” podcast.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

PEP Talk: Helping Businesses Save on Retirement Offerings

PEP Talk: Helping Businesses Save on Retirement Offerings

January 11, 2022

If you want to offer or improve retirement savings plans for your employees, or if your business operates in a state where retirement planning is now mandated, what advantages could a Pooled Employer Plan (PEP) provide? Longtime retirement planning consultant Kelly Michel shares how a PEP plan can reduce your costs, minimize your fiduciary liability, and may even garner business tax credits, while still offering your workers the traditional benefits of a 401(k) plan. 

Topics include:

2:33 - Kelly's background in Multiple Employer Plans
4:12 - What's a Pooled Employer Plan (PEP)?
5:24 - How the 2019 SECURE Act impacted PEP plans
7:05 - U.S. savings crisis, need for these plans
8:48 - Value of professional plan management
11:14 - Should employers with existing 401(k) plans switch to a PEP?
17:48 - Advantages of PEP vs. state-run IRA programs
18:34 - What's the future around 401(k) and PEP plans?

Resources:

What are five major benefits your small business can gain from a Pooled Employer Plan (PEP)? Read our article at www.paychex.com/articles/employee-benefits/pooled-employer-plan.

How do 401(k) plans help your employees access and save for a dignified retirement? Learn more at www.paychex.com/articles/employee-benefits/what-is-a-401k.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Focusing on Mental Health in the Workplace is a No-Brainer in 2022

Focusing on Mental Health in the Workplace is a No-Brainer in 2022

January 6, 2022

A Paychex survey conducted in late 2021 revealed that more than 60 percent of employees indicated well-being support was a top priority when looking for work, while improved workplace mental health benefits also were highly desired. In this week’s “On the Mark” podcast, host Gene Marks offers some practical suggestions — from training and coaches to flexibility of hours and kickball — for employers to consider that could make a difference in employee mental well-being at work. 

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Capital. Networking. Education. EY’s opportunities for black and Latino entrepreneurs.

Capital. Networking. Education. EY’s opportunities for black and Latino entrepreneurs.

January 4, 2022

In this episode, Gene Marks talks with EY’s Lee Henderson, Audit Partner, Americas EY Private Leader, and Executive Sponsor of the EY Entrepreneurs Access Network. It’s in this latter role that Lee is really making an impact on black and Latino entrepreneurs. Hear the results of his team’s survey of this group and learn what EY is doing to continue the positive momentum of 2021. If you’re a minority entrepreneur, if you're looking for funding, if you're looking for resources, and most importantly, if you want to get into a network of people who can help you grow your business, you’ll learn why these are the types of opportunities you’ll want to take advantage of.

Topics include:

3:19 – Background on EY's middle-market practice
7:05 – Highlights of the survey of black and Latino entrepreneurs
11:46 – Understanding the unique needs of minority entrepreneurs
16:36 – Connecting minority entrepreneurs to capital
21:51 – Details on the Entrepreneurs Access Network
25:16 – How to apply to Entrepreneurs Access Network
30:45 – How this model is being adopted by other organizations

Resources:

With information from the U.S. Small Business Administration and other resources, this Start-Up Guide will show you who to talk to and what it takes to get your business off the ground and financially secure at www.paychex.com/secure/whitepapers/fund-your-business

Though the Paycheck Protection Program (PPP) is no longer a funding option, read this Securing Financing for Your Small Business article to learn about alternative small business financing options, as well as lender options and how to prepare for a loan at www.paychex.com/articles/finance/securing-small-business-financing

To learn more about EY's Entrepreneur Access Network, visit ey.com/ean.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

7 Ways to a Safer Workplace, Including COVID-19 Vaccination Mandates

7 Ways to a Safer Workplace, Including COVID-19 Vaccination Mandates

December 30, 2021

Workplace safety is top of mind for employers and employees alike. Gene Marks suggests seven ways — from staying ahead of the compliance curve on COVID-19 vaccination mandates and mask policies to conflict training and investment in technology to increase automation and cut down on the number of people at work. The host of “On the Mark” offers insights he shares with his clients to help businesses get back to and stay at work safely. 

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Upgrading Hardware Tech for New Workplace Norms

Upgrading Hardware Tech for New Workplace Norms

December 28, 2021

Given today’s remote and hybrid workforce needs, how are small businesses approaching computer hardware technology? Hear from Lindsey Greathouse, director of global SMB marketing for Lenovo, one of the world’s largest personal electronics brands, as she shares how the company differentiates its service solutions for the mobile devices, laptops, and accessories now considered commodities. How have these tech tools helped foster productivity and connection in the new work-from-home and hybrid work environments, and what’s the future of the industry, given advances in artificial intelligence?

Topics include:

2:02 - Career path recap
4:53 - Lenovo's diversified portfolio of products
8:33 - Delivering continuity for SMB remote work needs
13:16 - Partner network innovations, right to repair
14:39 - Look for flexibility, scalability, security as a future focus
17:17 - Subscription-based, as-a-service access growing
18:10 - How will hologram, AI technology impact hardware?    

Could new HR technology help your small business workforce become more productive? Check out the findings in our recent whitepaper at: www.paychex.com/secure/whitepapers/hr-technology-the-future-of-work.

Do you have a topic or guest to suggest for the show? Submit your ideas at: http://payx.me/thrivetopics

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

There’s Money to be Found in Tax Credits and Deductions

There’s Money to be Found in Tax Credits and Deductions

December 23, 2021

As 2021 winds down, Gene Marks reminds employers they can still take advantage of tax credits and deductions to infuse money into their operations. The CPA and small-business owner hosts this episode of “On the Mark” to offer insights and advice on eight ways to save on taxes — from hiring select groups of individuals such as military veterans and helping employees pay down student loans to helping employees save for educational expenses to purchasing equipment to help your business. Plus, these advantages will be available in 2022 and some even beyond that. Listen to this week’s podcast for more.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Leveraging Reddit to Reach Business Prospects

Leveraging Reddit to Reach Business Prospects

December 21, 2021

Is the long-running Reddit platform, with its multitude of online groups formed around topic-specific sub-channels (subreddits), becoming a viable option for small business advertising? And what does product or service promotion look like inside a social media platform built on chats? Hear from Timo Pelz, vice president of business marketing for Reddit, on the ways business owners can leverage conversation and community — staples for the platform — to add value for users and align within dynamic discussions. Plus, hear how Reddit is branching into audio and visual, within its focus on authentic, engaging conversation.  

Topics include:

2:28 - The "towns" and communities of Reddit
4:59 - Reddit's advertising goals: minimal disruption
6:21 - How is Reddit's ad platform developing?
8:27 - How can small businesses reach prospects on the platform?
14:21 - Context, content, and conversation on Reddit
18:12 - Can businesses create subreddits for promotion?
19:40 - How limited disclosure fosters authenticity
21:58 - Will audio and video change Reddit's interface?

Resources:

Blog content can help a business “soft sell” on a platform like Reddit. Learn how-to’s on blogging for your business at: www.paychex.com/articles/marketing/blogging-benefits-for-small-business.

Discover a content community that may align with your business at: http://reddit.com.

Have a topic or guest to suggest for the show? Send your submissions to: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

5 Tips to Help Your Business Counter Inflation

5 Tips to Help Your Business Counter Inflation

December 16, 2021

Businesses could be dealing with inflation due to rising prices and supply chain issues for the next year or more, so it’s important to have a strategy. This episode of On the Mark offers five tactics businesses can consider that might help navigate any potential challenges. Host Gene Marks, a CPA and small-business owner, shares what he has discussed with his clients, including raising prices and using targeted communication through a customer relationship management system to accomplish this. He also suggests practicing shrink-flation by delivering less product while holding prices steady. Consider getting into long-term contracts to reduce risk, as well as buying as much inventory now and finally investing in technology to improve efficiencies.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Taking Stock: Inventory Innovations in the Information Age

Taking Stock: Inventory Innovations in the Information Age

December 14, 2021

Any business selling products is dependent on inventory management to fulfill customer needs, but many companies haven’t mastered this critical aspect of operations. Hear Lucas Miller, vice president of implementation for Fishbowl, the global leader in inventory control solutions, explain best practices in stock management, trending innovations, and key metrics that can empower smarter inventory planning and leaner warehousing. Further, learn why the shift to automated stocking software calls for veteran staff at the helm, and how pain points in managing inventory data can point to a need for improved business processes.

Topics include:

3:23 - Supply chain shortages reveal inventory management challenges
4:57 - How has physical counting changed today?
7:26 - Barcoding is about accuracy, not speed
9:32 - QR codes: trend vs. traction
11:02 - How does RFID differ? What's the forecast for RFID?
12:49 – Avoiding the challenge of overstocked obsoletion
15:25 - Robotics, automation impact on manufacturing
17:22 – Process changes necessary for modern inventory automation
21:00 - Key inventory metrics: ABC codes, reorder levels

Resources:

As you manage inventory, you’ll need to understand the cost of goods sold. Learn more at: www.paychex.com/articles/finance/what-is-cost-of-goods-sold.

Explore inventory management software at: http://FishbowlInventory.com

Is there a topic or guest you’d like to submit for the show? Send in your ideas at: http://payx.me/thrivetopics

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Economic Injury Disaster Loans: Tap into Millions Before 2021 Ends

Economic Injury Disaster Loans: Tap into Millions Before 2021 Ends

December 9, 2021

Businesses still searching for financial help to offset cash flow disruptions created by the COVID-19 pandemic should listen to the recent episode of the “On the Mark” podcast as host Gene Marks reviews the benefits of an Economic Injury Disaster Loan (EIDL) program. The program ends Dec. 31, 2021, so time is running out to take advantage of the program. Learn about eligibility, interest rates, the favorable 30-year term to pay back the loan and more. Plus, certain businesses might qualify for EIDL grants such as targeted advances and supplemental advances, possibly infusing more than $10,000 into your business that can help with operating expenses. 

Resources:

Learn how the SBA Enhances Economic Injury Disaster Loan Program with Higher Borrowing Limit at www.paychex.com/articles/human-resources/sba-economic-injury-disaster-loan-program.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Help or Hindrance: Big Tech’s Impact on Your Business

Help or Hindrance: Big Tech’s Impact on Your Business

December 7, 2021

Google. Facebook. Amazon. How do these three tech companies dominate online search and advertising options for small businesses competing for visibility in the online marketplace? Gilad Edelman covers the intersection of Big Tech, politics, and law for WIRED magazine. Hear his insights on the power and impact of these online marketing giants, what practices might define them as monopolies, and whether pending lawsuits or other national actions could curtail their current influence on business competition.

Topics include:

4:04 - Analysis of Parler's removal from app stores
8:59 - Why sole-platform businesses need backup plans
12:12 - Customer service pains in the internet economy
13:36 - Three markets Google monopolizes
17:51 - Is small business stagnating despite cheap ads?
20:23 - Will a third member join the online ads duopoly?
21:49 - The new shift in Amazon search
26:42 - Antitrust legislation odds Big Tech may face
29:53 - Could the FTC set new rules regulating Big Tech?

Resources:
Review best-practice strategies to compete against larger competitors at:
www.paychex.com/articles/marketing/how-to-succeed-business-competition.

What’s omni-channel marketing and how can you leverage it for your small business: Learn more at: www.paychex.com/articles/marketing/what-is-omni-channel-marketing.

What would you like to hear on THRIVE? Suggest a topic or guest for the show at: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Employee Retention Tax Credit: Why Leave the Potential for Big Money on the Table?

Employee Retention Tax Credit: Why Leave the Potential for Big Money on the Table?

December 2, 2021

Business owners looking to infuse meaningful money — potentially tens of thousands of dollars — into their operations should check into whether they are eligible for the Employee Retention Tax Credit. CPA and small-business owner Gene Marks debuts the “On the Mark” series, sharing details about the credit, how to determine eligibility, why some of his clients favor ERTC over Paycheck protection program loan forgiveness and how Paychex can help.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Mastering E-Commerce Challenges Emerging from the Pandemic

Mastering E-Commerce Challenges Emerging from the Pandemic

November 30, 2021

During the pandemic, online shopping skyrocketed, straining the bounds of e-commerce scale and service capabilities. As we emerge from the pandemic, supply chain shortages further frustrate customers and businesses awaiting delivery of goods. However, Vivek Pandya, senior digital insights manager at Adobe, shares analysis on the e-commerce trends showing remarkable growth, and the opportunities for small businesses to leverage big-box pressure points to service and attract customers.

Topics include:

3:02 - How Adobe aggregates data to analyze trends
5:14 - What the out-of-stock notification rate reveals
8:01 - Consumer perspectives on product availability
12:35 - Shortage impacts in electronics
14:04 - Buy Now, Pay Later: origins and innovations
16:40 - Increases in curbside pickup with online orders
18:46 - Advantages of early discounts for small businesses
19:22 - Spending forecast for this holiday season

Resources:

If your small business does not yet have an online presence, learn how to get started at www.paychex.com/articles/management/how-to-put-a-business-online.

Selling to customers out-of-state? Find out if you are required to collect online sales tax at www.paychex.com/articles/compliance/supreme-court-ruling-online-sales-tax.

Have an idea for a show topic or guest? Submit your suggestions to: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Help at the Holidays: Emergency Bill Seeks to Relieve Cargo Ship Bottlenecks

Help at the Holidays: Emergency Bill Seeks to Relieve Cargo Ship Bottlenecks

November 23, 2021

Will the Supply Chain Emergency Response Act bill proposed by U.S. Senator Rick Scott (R-FL) rescue the businesses and families impacted by supply chain shortages at the critical holiday sales season? In this special episode, hear specifics of his plan to fix the supply chain disruption by offering incentives to reroute cargo ships from the West Coast through the Panama Canal to Florida and East Coast ports instead. Could this be a quick win for American businesses, jobs, and families? 

Topics include:

  • What spurred this proposal?
  • What are specifics of the proposal?
  • How likely is it that Congress will enact this bill?
  • What funding could make it possible?
  • If enacted, how soon could goods reach store shelves?

UPDATE: As of Nov. 17, Sen. Scott’s bill has been blocked in the Senate’s Commerce, Science, and Transportation committee and has not yet reached the full Senate floor for a vote.  

Track the progress of this proposal at: https://www.congress.gov/bill/117th-congress/senate-bill/3224/committees

Resources:

Need ideas for Small Business Saturday promotions? Check out our tips at: www.paychex.com/articles/marketing/small-business-saturday-ideas.

Want to suggest a guest or topic for the show? Submit your ideas at: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The Reach Factor: Neil Patel on How Small Businesses Compete Effectively Online

The Reach Factor: Neil Patel on How Small Businesses Compete Effectively Online

November 16, 2021

Google AdWords vs. Organic SEO. Facebook. Instagram. LinkedIn. When it comes to online marketing, how can small businesses stretch limited dollars over multiple platforms to reach customers effectively? And how can they compete against larger companies with massive marketing budgets? Neil Patel, recognized as one of Forbes’ top 10 marketing influencers, shares insights and growth marketing strategies your business can leverage across social media, digital ads, and your company website, to earn the best bang for your buck.

Topics Include:

2:27- Are Google Ads worth the cost?
5:29 - How can SMBs compete with larger firms?
9:11 - Let ROI determine marketing channels
11:32 - Predicting what Google will do next
15:25 - Competitive advantages of Facebook ads
17:12 - LinkedIn favors content creators
19:36 - Why LinkedIn ads are so costly
21:34 - How to use photo-focused platforms for recruiting
23:51 - Red-flag warnings for social media newcomers
28:57 - How do businesses evaluate a digital marketing agency?

Resources:

Learn more about Neil Patel and his digital marketing resources at: http://npdigital.com

What successful marketing habits should small business owners develop? Read our 5-minute summary: www.paychex.com/articles/marketing/10-marketing-habits-small-business-owner-should-have.

Want to suggest a topic or guest for the show? Submit your ideas at: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Forecasting Future Success for Franchises

Forecasting Future Success for Franchises

November 9, 2021

Franchise owner-operators are facing current challenges on several fronts: labor shortages, uncertainties around pending vaccine mandates, and pressures from potential expansion of joint employer classification with national brands. Meanwhile, wages and benefits are up, and opportunities for veteran- and minority-owned franchises continue to grow. Hear from Matthew Haller, president and CEO of the International Franchise Association (IFA), how the organization advocates for its members, and the data that shows why franchising remains a proven path to success for many entrepreneurs.

Topics include:

3:22 - Functions and focus of the IFA
5:54 - Higher wages, better benefits for new hires
7:02 - Some brand ads now push hiring, not product
11:22 - Where, how are franchisees finding hires?
14:01 - Could joint employer expansions harm franchising?
19:11 - Impact of OSHA vaccine mandate
20:16 - IFA supports for veteran- and minority-owned franchises
24:37 - What's changed in franchising?

Resources:

Is staffing a challenge for your franchise? Find tools and tips with our article "How Franchise Owners Can Recruit Top Employees" at www.paychex.com/articles/human-resources/how-to-recruit-franchise-employees.

What HR tech tools could help save valuable time as you manage your franchise? Learn more at www.paychex.com/articles/hcm/how-franchises-can-benefit-hcm.

Have a topic or guest to suggest for the show? Submit your ideas here: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Could a 4-Day Work Week Be On the Horizon?

Could a 4-Day Work Week Be On the Horizon?

November 2, 2021

With many U.S. workers emerging from the pandemic seeking more flexible working hours, could a 4-day work week become a new standard for business? Hear why U.S. Rep. Mark Takano (D-CA) has proposed an hourly change to the standard work week, the different shapes it could take across various sectors, and which companies might be the first to give it a try. 

Topics Include:

5:03- History of the 5-day, 40-hour work week
6:38 - What shape could a 4-day week take?
10:25 - How might different sectors implement it?
14:06 - Which firms could launch a new trend?
16:56 - Union Eligibility: PRO Act vs. CA-AB5
21:31 - Misconceptions on the PRO Act

Resources:

What benefits do part-time employees qualify for? Read more at: www.paychex.com/articles/employee-benefits/5-things-about-offering-benefits-for-part-time-employees

Send us topics and guests you'd like to hear at payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

On Guard: Why IT Security Remains a Business Priority

On Guard: Why IT Security Remains a Business Priority

October 26, 2021

Whether it’s compromised emails, phishing attacks, ransomware or more, IT security risks are a key concern for businesses today. When might passwords disappear in favor of biometrics? What is “smishing” and how could it impact you? In this episode, WIRED magazine senior writer Lily Hay Newman shares her expertise on trends happening in the field of information security and digital privacy, and why she advocates disclosing data breaches to improve IT safety for all businesses. 

Topics include:

2:36 - The tenor of tech reporting
7:28 - Why passwords are problematic
10:26 - Vulnerabilities in multi-factor authentication
15:29 - Biometrics can still carry risk
22:22 - Why reporting ransomware attacks is wise
26:55 - Compromised emails are top concern
28:48 -"Smishing" a new threat
32:05 - Reducing your personal "attack surface"

Resources:

How can your Small Business improve your data security? Learn more at with our article "What is Cyber Security and What Does it Mean for Your Business?" at www.paychex.com/articles/management/cyber-security-and-a-secure-business.

Concerned how to protect your business data while employees work from home? Find tips at: www.paychex.com/articles/management/cyber-security-tips-working-from-home.

Send us topics and guests you'd like to hear at payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Warning to Businesses: Brace for Impact of U.S. Debt

Warning to Businesses: Brace for Impact of U.S. Debt

October 21, 2021

Hard times are coming for the ship of state, says economic analysts Antony Davies and James R. Harrigan. As Congress raises the U.S. debt ceiling again, while the national debt and government overspending spiral past the bounds of reality, harsh outcomes loom on the economic horizon, they warn. How can businesses prepare to minimize the painful realities that could come sooner than preferred? Don’t miss Part 2 of this conversation on debt, inflation, and what’s showing in the lines of our national ledger.

Topics include:

2:28 - Debt ceiling, overspending, inflation
5:31- Social Security insolvent in 10 years
6:55 - What's your $20 worth?
8:00 - Could the U.S. default on its debt?
15:00 - Historic debt trends
16:37 - Constitutional concerns
18:53 – Is U.S. debt too high to pay off?
22:46 - Takeaway? We’re bankrupt
23:05 - Preparing for financial pains ahead
25:17 - Two blows to business in new tax plan
27:50 - Hope in the people's productivity

Resources:

Got an idea for a topic or guests for the show? Submit your suggestions at:
http://payx.me/thrivetopics.

Listen in to the Words & Numbers podcast by Antony and James at www.patreon.com/wordsandnumbers.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Brace for Impact: The Coming Pressures of Inflation

Brace for Impact: The Coming Pressures of Inflation

October 19, 2021

The signs are clear: inflation isn’t just on the way, it’s already here. That’s what economic experts Antony Davies and James R. Harrigan tell host Gene Marks in this episode, the first of two on inflation, U.S. debt, and the nation’s economy. How did we get here, and where might we be going? Whether rising prices, Federal Reserve actions, supply chain shortages, or labor force impacts have you concerned, hear the steps they recommend to buffer your small business for the bumpy road ahead.

Topics Include:

2:11 - The misinformation around inflation
6:07 -  Modern Monetary Theory (MMT) 
12:05 - Why more gov’t money spurs inflation
14:30 - Supply chain shortages and price jumps
16:57 – Are CPI increases tied to extra unemployment benefits?
20:09 - Shortages in labor, and on shelves
22:40 - Borrowing in the face of inflation
27:06 - Is inflation ever "good?"

Resources:

Could long-term debt be a tool you leverage to grow your business? Learn more at: www.paychex.com/articles/finance/long-term-debt-expand-your-business

Got an idea for a topic or guests for the show? Submit your suggestions at:
http://payx.me/thrivetopics.

Listen in to the Words & Numbers podcast by Antony and James at www.patreon.com/wordsandnumbers.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Shake It ’Til You Make It: Zumba® Creator Beto Perez’s Rise to Success

Shake It ’Til You Make It: Zumba® Creator Beto Perez’s Rise to Success

October 12, 2021

Zumba® creator Beto Perez, a native of Colombia, brought his passion for music and dance into the fitness world and took it by storm. His story epitomizes the American dream for entrepreneurs: starting with nothing but a vision and hard work, then watching it succeed beyond imagination. Zumba dance workouts and classes are beloved by millions, and now reach more than 185 countries, while the brand includes instructor certification, sub-brands, and apparel. Celebrate Hispanic Heritage Month with this inspirational story from one of Latin America’s most renowned entrepreneurs.  

Topics include:

1:32 - Childhood love of dance
3:07 - First dance job at age 15
6:45 - Lambada dance competition win leads to more success
11:01 - Arrival in America and a key audition
13:47 - Choosing a future business partner
15:32 - The sales pitch that started it all
18:20 - Shifting the business model
19:49 - Scale, global success of Zumba fitness
21:46 - Adding new products to the brand
24:41 - New gym: City Zero
27:30 - What’s next? Sub-brand and … movie?

Resources:

Want to suggest a potential guest or topic for a future THRIVE episode? Share your ideas at: http://payx.me/thrivetopics.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

It’s Not Business as Usual for Retail

It’s Not Business as Usual for Retail

October 5, 2021

While you thought e-commerce and the pandemic might signal the end of retail, it’s alive and well, says Tom McGee, president and CEO of ICSC. Thanks to tech innovations, changes to physical store layouts, and a shift to service customers’ last mile of delivery, retail has been reborn. Further, a look beyond the shopping malls of yesterday will show that essential retailers and experience-oriented service providers have transformed commercial real estate hubs into modern centers of community life.

Topics include:

1:46 - ICSC's historic roots, current focus
3:14 - Convergence in retail real estate service communities
6:42 - Shift to service, experience trends in retail properties
9:05 - Advice to retail entrepreneurs
11:40 - E-commerce, technology impacts on store layouts
15:39 - Increase in leasing demand
18:13 - Benefits of stores as last mile of delivery
23:49 - Growth opportunities across the U.S.
25:20 - Retail’s potential in the modern marketplace

Resources:

Learn whether buying an existing business may be right for you:
www.paychex.com/articles/startup/pros-and-cons-of-buying-a-business.

Concerned how to protect your commercial property from unexpected impacts? Read our article, Should I Have Commercial Property Insurance? at 
www.paychex.com/articles/employee-benefits/what-is-commercial-property-insurance.

Read our Top Small Business Trends to Know for 2021 at www.paychex.com/articles/management/small-business-trends.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Season 2 Finale: Rising Costs, Labor Shortages are Top Issues for Businesses in 2021

Season 2 Finale: Rising Costs, Labor Shortages are Top Issues for Businesses in 2021

September 21, 2021

Host Gene Marks wraps up season two of the Paychex Business Series podcast with advice for businesses facing the biggest issues of the year—rising costs and workforce disruptions. First, how can entrepreneurs and business owners like you tackle the challenges of inflation and supply chain increases? And what strategies—including higher pay, lifestyle benefits, federal tax credits, and referral sources—can you use to compete for employees in today’s tight labor market?

Resources:

To explore how the Work Opportunity Tax Credit could help your business navigate the current hiring crisis, visit: www.paychex.com/articles/payroll-taxes/latest-work-opportunity-tax-credit-developments

To dig inside wage and employment trends by national, regional, state, metro, and industry segments, visit the Paychex | IHS Markit Small Business Employment Watch at www.paychex.com/employment-watch.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Running Your Business Safely in a COVID-19 Era: The Best of Season 2

Running Your Business Safely in a COVID-19 Era: The Best of Season 2

September 14, 2021

In the era of COVID-19, business safety has been prioritized more than ever. From cybersecurity to disease prevention, Gene looks back on some of the best conversations he’s had with experts this season. Tune into the first half for a recap with Rick McElroy, Principal Cyber Security Strategist at VMware, as they discuss how companies can avoid cyber attacks and utilize security tools. Listen into the second half for a talk with Infectious Disease Epidemiologist, Saskia Popescu, on COVID-19 health protocols and how businesses can create a safer work environment.

Resources:

Keep your business safe from costly cyber attacks with Paychex Cyber Liability Insurance. Visit payx.me/cyber21 for more information.

Learn how to prepare a safe workplace for your employees in COVID-19 by reading our article, Workplace Safety and Returning to Work: Guidance for COVID-19 at www.paychex.com/articles/human-resources/workplace-safety.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Diversity & Inclusion: How The Manufacturing Institute is Innovating the Global Workforce

Diversity & Inclusion: How The Manufacturing Institute is Innovating the Global Workforce

September 7, 2021

Our population is a diversity of different ages, genders, and skills for hire. However, recruiting labor is still one of the largest issues facing businesses. To resolve this, Executive Director Carolyn Lee of The Manufacturing Institute, supports programs like FAME, Second Chance Hiring, and the STEP Women's Initiative. Listen in as she talks with Gene Marks about these innovative campaigns to sustain and empower the global workforce.

Resources:

Are you an owner of a manufacturing business? Learn how to hire and manage your workers in our free Whitepaper, “HR: The Power Fueling the Growth of Your Manufacturing Business”: www.paychex.com/secure/whitepapers/fueling-growth.

Find out more about The Manufacturing Institute's motives and initiatives at: www.themanufacturinginstitute.org/

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

How the Infrastructure Bill and PRO Act Will Impact Contractors in America

How the Infrastructure Bill and PRO Act Will Impact Contractors in America

August 31, 2021

The Infrastructure Bill and PRO Act are both legislations that have major impacts on the American construction industry. With deadlines nearing, where does the Infrastructure Bill stand and will the PRO Act benefit contractors? In this episode, Gene Marks speaks with CEO Steve Sandherr of The Associated General Contractors of America on his views of these two bills and the concerns they may present to general contractors.

Resources:

Learn more about what the PRO Act means for the construction industry at www.agc.org/protecting-right-organize-pro-act

For more information about employees and contractors, check out our article, Independent Contractor vs. Employee: What Can These Workers Offer Your Business?  at www.paychex.com/articles/payroll-taxes/independent-contractor-vs-employee-comparison.

DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.