November 2021

Small Businesses Take Giving Tuesday to Heart

November 30, 2021/in Featured Stories /by Vince Calio

Small businesses across the US have taken the young custom of “Giving Tuesday” to heart, as thousands of everyday businesses celebrate the day of global generosity by giving back to their communities and local charities.

The Tuesday after Thanksgiving was originally launched as Giving Tuesday in 2012 by New York City’s 92nd Street Y in partnership with the United Nations Foundation. It has since spun out into its own organization led by co-founder Asha Curran as its CEO. Last year, nonprofits in the US raised more than $500 million online for Giving Tuesday, and small businesses were a huge part of that.

From providing free services to giving money to good causes, local business owners share how they give back to their community on Giving Tuesday and all year round.

Making the Holidays ‘Bear’able

At MyBearJeff.com – a Kansas City-based online company that sells stuffed teddy bears (and donates a bear for each teddy bear sold) – the mission on Giving Tuesday is to double the number of teddy bears being donated to children who are trauma patients at local hospitals. The company works with its partner, Children’s Mercy Hospital in Kansas City, to make sure bears get delivered to comfort young patients in the hospital.

“The need is so great for children to have something special to hold on to during a difficult time in their lives, and the demand continues to grow. Our goal is to put a teddy bear into the hands of as many kids as possible,” said founder Rachel Cohen, who was inspired to start the company after experiencing the trauma of life-altering surgery when she was just four years old.

“The hospital’s Child Life team even uses teddy bears for casting demonstrations with a cast placed on the bear to ‘look’ like the patient.”

A Green Thumb’s Up

Bryan Clayton, CEO of yard work booking service, Greenpal, in Nashville, TN, said that his company’s mission on Giving Tuesday is to mow lawns for people who can’t afford it – free of charge – an act of charity that the company does once a month.

“We have a few hundred lawn care professionals that utilize our system and we ask them to submit to us candidates that are in need of a lawn mowing for free because they are in a tough personal situation,” said Clayton. “So once a month we will go and mow a strangers home who’s grass has gotten 2 to 3 feet tall because they are in a jam.

“One person once was facing foreclosure, and another was getting ready to be cited by the city [for their lawn being unkempt]. We also try to help out single moms more than anybody. Overall the initiative had been worth doing, but it is not without its challenges. On more than one occasion, some of the folks that we donated lawn mowing to ended up calling in and complaining because our vendor did not do a good enough job on the free lawn cut. I think a lesson learned for any small business looking to give back a little is to manage their own expectations and at the end of the day just do it for themselves and do not expect any gratitude.”

For Mother Nature

For Plaine Products – a company that sells sustainable and plastic-free beauty products – the mission is all about saving the environment.

“For the third year in a row, we’ve changed Black Friday shopping to Give Back Friday and in addition to offering a discount to our customers, we donate a portion of sales in the days following Thanksgiving to nonprofit organizations that are aligned with our environmentally-focused mission,” said Lindsey McCoy, CEO.

McCoy added that the company donates a portion of sales to underfunded recycling organizations such as Glass Half Full, as well as nonprofit wetlands and wildlife care centers.

“Our giving, however, isn’t just focused on this time of year,” said McCoy. “We are a Certified B Corp and a member of 1% For The Planet. Our company donates at least one percent of annual sales to environmental non-profits, including 5 Gyres, Beyond Plastics, Lonely Whale, Plastic Pollution Coalition, and Upstream Solutions.”

How to get to Sesame Street

For Tamica Oglesby, head of Potty Schmotty, a company that helps potty train toddlers, Giving Tuesday is all about helping kids.

“On Giving Tuesday, we are encouraging our supporters to donate to our Sesame Street Fun Run (or walk) Team. Our goal is to run/walk as a team and to raise $250 in our first year. Or we encourage people to donate to their local (or the national) diaper bank for Giving Tuesday. In addition, we encourage people to purchase from our company in February. A portion of each purchase will be donated to the diaper bank. Families struggle to afford diapers and this is a way to help them.”

Lawyering Up

For Texas-based law firm Herrman and Herrman PLLC, Giving Tuesday lasts the entire holiday season.

“This year for the holiday season, we will be giving away a gift card each day in December to members of our community,” said Gregory Herrman, managing partner. “We also recently hosted a vaccine event offering $50 gift cards to anyone who received their first vaccine shot. Another way we give back to our community is by sponsoring community non-profits like K Space Contemporary. K Space Contemporary is a non-profit arts organization dedicated to contemporary art from regional artists in Corpus Christi, Texas.”

Love Notes for Planet Earth

Jean Gregoire, Founder and CEO of Lovebox, a company that specializes in allowing people to send notes to their loved ones throughout the day, said the company also gives to 1% for the Planet during the holiday season.

“We’ll be giving directly to nonprofits in the 1% for the Planet network that make sense with our values and our vision of the world,” said Gregoire. “We chose this organization because they represent a global network of businesses, individuals, and nonprofit organizations that are addressing the world’s most concerning environmental problems. At Lovebox, we’re dedicated to making sure the planet we love stays intact. “

Empowering Women

PaliRoots, a fashion and accessories brand, donates a meal to children in the Gaza Strip in collaboration with Middle East Children’s Alliance, said a company spokeswoman. The company is aiming for an additional 5,000 meals to be donated by the end of Giving Tuesday, Year-round, the company gives 5% of net proceeds to Girls on the Run, a nonprofit for girls’ empowerment foundation.

Tis the Season for Giving

Small businesses across the country are giving back to their communities to show gratitude this holiday season, and whether it’s in the form of a donation or free services or products, there is always a place for charity.

Man leans over computer with widened eyes

Best Cyber Monday Deals for Small Business Owners

November 26, 2021/in Featured Stories, Technology /by Brandon Wyson

Cyber Monday is no longer just a corporate excuse to empty out old warehouse stock for cheap. Ecommerce, as well, is no longer reserved for use only by the world’s richest companies. If your small business is looking for deals this Cyber Monday, there are several bundles and sales with just the right bits for one of several upgrades to your storefront or web presence. So before stopping by the regular big-box suspects, take a look at several Cyber Monday sales and deals geared for small business owners.

MOO (Stationery and Paper Products)

If you haven’t worked with MOO before, Cyber Monday is a great time to get acquainted with this authentic and detail-oriented paper company. MOO consistently offers generous Black Friday and Cyber Monday deals but tend to keep the specifics close to their chests until the day-of. If your business is looking to step up your shipping presentation, update your business cards, or modernize your flyers, MOO is a stand-up company to work alongside. Keep a close eye on MOO social media pages over the Thanksgiving weekend to see what deals come to pass.

Ring (Security Systems)

While Ring largely brands themselves as a home security company, their suite of advanced tech is equally effective for small businesses with storefronts. Ring released their flyer of Black Friday and Cyber Monday deals earlier this week and several of their security bundles offer comprehensive, modern security solutions that can easily fit small businesses. Our recommendation is the 5-Piece Alarm Security System which comes with a base station, wireless keypad, a contact sensor for doors or windows, a motion detector, and a range extender for your base station for only $119.99 instead of $199.99. This is one of several security configuration sales due to kick off Monday, so take a look at the Ring website’s full selection of deals to see which bundle works best for your business.

DreamHost (Hosting, Websites, and Domains)

DreamHost is one of the most reputable web hosting small businesses in operation today and Cyber Monday is the perfect time to take advantage of their superior resources. DreamHost offers their best sales of the year on Black Friday and Cyber Monday, so there is no better time to step up your web presence. DreamHost will kick off their massive domain sale this Black Friday and Cyber Monday with exclusive deals as follows: $5.99 per month per “.com” domain (down from $17.99), $0.89 per month per “.xyz” domain (down from $12.99), and stunningly, $0.99 per month per “.online” domain (down from $29.95). See DreamHost’s full flyer for other deals and bundles only this Black Friday and Cyber Monday.

Antivirus & VPN Services (Cyber Security)

One of the biggest reasons consumers and business owners alike turn down premium cyber security and VPN services are the sometimes-pricey annual fees. Black Friday, and obviously Cyber Monday is a great time to invest in your business’s cyber security.

VPNs: Keep a close eye on NordVPN and ExpressVPN this Cyber Monday. These two companies are the leaders in both consumer and business-grade virtual private network services; they also tend to go head-to-head with competitively low sale prices each Cyber Monday. Nord went out of their way to kick off Cyber Monday deals early: New subscribers can score a two-year subscription to NordVPN for $3.16 per month, or $79.00 for the two years which is a massive discount for their regular $298.75 two-year price. Expect similar deals from ExpressVPN who have not released their catalog yet.

Antivirus: The two antivirus services to watch this Cyber Monday are Norton Antivirus and Bitdefender. Norton is offering deals up to 83% off several of their cyber security bundles. Most notably, Norton 360 Deluxe is only $19.99 for the first year, down from $104.99. This particular bundle allows up to five devices to connect per license making it perfect for a business with multiple computer terminals. Another quality antivirus option is Bitdefender whose Total Security bundle is $27 this Black Friday and Cyber Monday. This plan also allows up to 5 devices to connect and for an extra $29.99, you can add in Bitdefender’s premium VPN making the package especially lucrative.

Design a Shirt (Company Apparel)

Company merchandise is a must-have no matter how small your business is. Black Friday and Cyber Monday are a great time to either test out your logo on some shirts or go all in and buy bulk. Design a Shirt is offering three tiers of discounts depending on your chosen shipping speed. This Cyber Monday, any orders with their free (but slowest) shipping speed will be 15% off after $150. For those who pick their fastest shipping rate, orders over $150 are 18%.

Design a Shirt is one of several custom apparel companies vying for your attention this Cyber Monday, so be sure to keep an eye on companies like Custom Ink who don’t publish their deals until the day-of.

Make Cyber Monday Work for You

While Target, WalMart, and Amazon are sure to make a killing this Cyber Monday, make the holiday work for your business by taking advantage of any of these deals. Being that supply shortages have been rampant this past year, Cyber Monday is bound to be especially hectic in 2021. Even worse, supply line slowdowns mean that shipping dates ought to be padded by several extra days. If you have been putting off any choice upgrades for your business, this Cyber Monday may be the last day in the calendar year to actually get those items in hand.

This Thanksgiving, Kapitus Employees Say Thank You to Small Businesses

November 25, 2021/in Featured Stories /by Vince Calio

Thanksgiving is a time for gratitude, and here at Kapitus, one of the things we’re most grateful for are small businesses – and not just the ones we serve as a lending company, but the ones in our hometowns that touch our personal lives in positive ways by providing above-and-beyond service and products, and by giving our neighborhoods a personal touch.

So, in the spirit of giving thanks this holiday season, various Kapitus employees are here to express thanks to the small businesses and their employees who work hard to make our lives better.

Carolina Baez, Paralegal

Photo: FourSquare

“Being a local it is interesting to witness Conti’s Pastry Shop become the Herald Square of Morris Park [in the Bronx, NY] – every holiday, from Easter to Christmas, turns this establishment into BestBuy on Black Friday. The hustle and bustle during these times are comically annoying (as a local establishment should feel), but it also elevates a certain neighborhood pride for fostering something that has added so much character to the community.

“However, I love Conti’s for the nostalgic scent of baked goodies and coffee every morning…. Stopping in for my coffee and almond croissant, I enjoy the belly-warming energy from the Conti’s crew – the ‘good mornings’ and ‘see you tomorrow’ – followed by what I call my happy time, that first sip. As a self-proclaimed coffee snob, Conti’s brew’s a mean cup of joe, and I am ever grateful to them for that. The décor and vibe of the place make it hard to exit, plus the pastries are soooooo good it hurts to leave. But I go, and go happy because, as a local, I get to be back tomorrow.”

Brandon Wyson, Digital Content Writer

“I have the distinct honor of living in a clean and smart corner of Brooklyn, New York. I live and will

Photo: NYCGo.com

hopefully die by my borough’s small businesses; let me tell you my favorites: Books are Magic on Smith and Butler Street in Cobble Hill is an independent bookstore owned by author Emma Straub and her husband, Michael Fusco-Straub. Books are Magic is my immaculate sanctuary of curated literary bliss.

“Perhaps people shouldn’t go to Books are Magic because they will soon find all other bookstores woefully insufficient. Straub’s wonderland is laden with classics and modern literature, as well as several books signed by their authors. With a delightfully attentive staff and a willingness to order single books from across the country, Books are Magic lives up to its name; such perfection ought not be possible without sorcery.

Perelandra Natural Foods vegetarian vegan

Photo: One Green Planet

“Next, imagine Willy Wonka chose to bind his whimsey upon health food. In such a world, which is seemingly our own, you would find Perelandra Natural Food Center on Remsen Street in Brooklyn Heights. Perelandra is an ode to mindfulness and is unabashedly intentional. Independent grocers have it hard even in New York City, but Perelandra is a steadfast community paragon that will not falter. Every shelf and fridge are stocked with local, ethical, and delicious food you can take home with pride. As a diehard vegan myself, Perelandra offers an unbeatable selection of fresh and flavorful goodies sans animal. Perelandra dares consumers to break the chain of mindless purchase and consider where your food comes from; and if it comes from Perelandra, you can guarantee it’s good.”

Danielle Hodges, Executive Administrator

“I am very thankful for Ms. Sanchez Little House Daycare (in Roselle, NJ). As a working mom, finding

Photo: Mrs. Sanchez Little House Daycare

childcare was very important to me. Ms. Sanchez take care of my son as if he was her own. I am thankful that she provides breakfast, lunch, and snacks. When he is there, he is learning and having fun! I am thankful for all that she does for him and continues to do. Thank you, Ms. Sanchez and your team!”

Stephanie Olivo, Human Resources Generalist

Photo: InfoUSA

“I am thankful for my neighborhood bakery, Buzzancas’s Bakery & Café [In Jackson Heights, NY]. It is a family-owned Colombian bakery and even though I am Dominican, Columbian bakeries bring me back to my childhood with my dad because we always picked up Columbian bread on the weekends.

“There is something unique about their breads and the smell that just makes you feel warm and cozy. I am grateful to have them close to me and appreciate their hospitality. It always feels like you’re visiting a relative when you go see them.”

Vince Calio, Digital Content Writer

Photo: Edison Family Restaurant

“I live in a township called Edison, NJ, and I can tell you that Edison simply wouldn’t be Edison if it weren’t for an independent family eatery, Edison Family Restaurant. The restaurant has been family owned since 1978. It’s unfussy interior and cozy interior make it a great place to enjoy some of the most delicious homemade foods in the neighborhood, starting with its wide variety of soups made from scratch every day, and its bountiful yet casual breakfast and lunch menu that offers everything from the best spinach and chicken pot pies in the state to burgers and gyros.

“The staff is very friendly and knows most of the customers by name, and they’ve been there for a long time. I have enjoyed early morning breakfasts on weekdays, since I work remotely, as well as casual Sunday brunches with family and friends. It truly is a staple in the neighborhood that many residents have come to love and rely on.

Photo: Chateau Inn and Suites of Spring Lake

“My other favorite small business is the Chateau at Spring Lake, a boutique hotel my family visits every summer in the picturesque Jersey shore town of Spring Lake, NJ. This quiet, cozy little hotel has spacious rooms, provides free tea and cookies int he afternoon and is kid-friendly. It provides beach towels for every guest during the day, and its owner always remembers us by name when we visit every August, and is always quick with restaurant and store recommendations, making this the perfect place for a quiet summer getaway.”

Bernadette Abel, Director of Brand Marketing

“There are two places that I consider home – North Wildwood, NJ (a beach community in Southern NJ…locals don’t call it “the shore”), where I grew up and The Upper West Side of New York City, where I chose to spend over a decade of my adult life. In each of these communities there are MANY small businesses that I hold near and dear but there are two, in particular that own a piece of my heart and soul.

Photo: Russo’s Market

“Russo’s Market in North Wildwood not only makes a mean Philly cheesesteak (seriously, better than you can find in Philly itself), amazing subs and other not-so-healthy-but-oh-so-good fare that are must-haves for my family and the area’s visitors every summer. Russo’s is not just a deli and market – it’s a tradition! My siblings and I spent many summers working there throughout our youth. In fact, I was working at Russo’s the morning of 9/11. There wasn’t a TV at the store then, so I listened to that historic and tragic day unfold over the radio. The owner regularly ran upstairs to where they lived to see if they could get any additional info from the TV news stations and then ran back down to report on what she had learned. It is my “I’ll-always- remember-where-I-was place.” So much of my growing into adulthood is tied into this little market on the beach.

Photo: Noah Deveraux

“When it comes to the UWS – by far -I want to show my love to The Dead Poet. DP is BY FAR my favorite small business in NYC (and there are a lot to choose from there, so that says a lot). This little local bar – with its awesome literary decor and literary-themed drinks is an English Major’s Dream. But, to me, this place is much more than that. It was my go-to place to celebrate life’s big moments, wash away disappointments, have venting sessions…and, even, grapple with and mourn the loss of a friend to cancer. It is where I would take visitors to get them out of Times Square and show them a little piece of the Real NYC. It is where, year-after-year, I would make a stop on my birthday for a free beer (if you share a birthday with one of their listed authors, you get free drinks!). I even hosted a friend’s baby shower there! I don’t live in NYC any longer, but The Dead Poet is definitely a stop I’ll make each time I go back for a visit. I know every time I do, there will be a great cocktail, cold beer and an awesome conversation waiting for me there.

“I would like to just add in a thank you to all small businesses. As you can see from all of these little messages, you impact people in so many ways – big and small. Keep doing what you do. Keep fighting the big fight. And we’ll all keep coming around to support you!”

With that, everyone here at Kapitus wishes a very happy, healthy and safe Thanksgiving to you and your family!

Why a Strong Business Plan is Crucial

November 18, 2021/in Featured Stories, Operations /by Vince Calio

When it comes to taking charge of your business, few documents will be more important to you than your business plan.

You may want to think of your business plan as kind of like a resume for your business. Much like your resume showcases you as a potential employee, your plan should showcase your business to potential future stakeholders and lenders. It also should outline the future growth and projected goals of your company, as well as define who you are as a business.

In short, it is a document that small business owners should work hard to perfect and continually update. You can do this yourself, as there are plenty of free guides on the web that can assist you. If you can afford to, you can also hire a business plan consultant – there are plenty of them out there ready to help you craft such a plan.

Why a Business Plan is Crucial

A good business plan is vital for any small business, and should serve as:

A roadmap for your business. Much like a pilot uses a GPS system to show him or her the direction in which to fly, a business plan should also be the GPS for your company in that it should point you towards the goals you are working towards. It should include an outline of your company’s mission, its growth plans and business milestones you are looking to achieve and the general timeline for when you want to achieve them.
A tool for financing. Your business plan can literally make or break your chances of getting much-needed financing. It should impress lenders by providing a thorough description of your marketing and sales strategy; how you stack up to your competitors and a detailed analysis of your cash flow.
An outline of management. While a business plan is not a legal document, it is important for legal reasons, especially if your business has multiple stakeholders. Your plan should describe what each partner’s role is in managing your business. It will also help you to figure out the appropriate exit strategy if one of your partners decides to leave.
A tool to attract potential future stakeholders. If your plan is to seek additional stakeholders as your business grows, your business plan should clearly communicate the strengths of your business as well as your future plans for growth.

The ingredients of a business plan vary depending on how big your business is and what market it’s in. A traditional business plan is typically detail-oriented and designed for small businesses with multiple employees. A small business whose only employee is the owner may want to go with a lean business plan, which gives a much quicker summary of your business but still touches on all of the key points as a traditional business plan.

A business plan generally should include:

#1 An executive summary/mission statement

This is the section in which you briefly describe your business and why you believe it will be successful. It should include a basic description of your products or services, basic information about your company’s leadership structure, as well as a brief summary of the qualifications of the business owner or owners.

#2 A detailed description of your company

In this section, you generally want to provide readers information about the problems your company solves for customers, as well as the market you want to serve. Breakdown, in detail, the problems your company intends to solve for your customer; explain what makes your company unique and what gives it an edge over competitors. Also, this is where you can toot your own horn. Describe your background and how you are uniquely qualified to lead your business.

#3 A description of your organization and management

If you have more than one stakeholder in your business, it is important to detail how much of a stake each partner has in your business, as well as the exact function each has in terms of managing your business. This section should also inform the reader of the type of legal structure of your company – whether it is a sole proprietorship, an LLC or a C or S corporation.

#4 A description/projection of marketing and sales

If your business applies for a loan, lenders will want to know what your plan is for attracting customers and how you fare against competitors in your market. In this section, you should go into detail about what makes your products or services unique, and what gives your company a competitive edge. You should also describe your sales process. Does your company, either through your website or in person, set up a strong sales funnel? Are your sales seasonal? This section, then, should also serve as a roadmap for your employees on how to approach sales and customer service.

#5 A detailed analysis of your current or projected cash flow

Like most small businesses, your company may seek much needed financing to handle rising costs and projected growth. No matter what type of loan you are seeking, the first thing that lenders will want to see is how strong and consistent your company’s cash flow is (or intends to be), and whether your company’s sales are seasonal. Also list the types of collateral you have for a loan, be it in the form of business or personal assets. If you don’t have a long cash flow history, then create another section to include reasonable quarterly or yearly projections of your cash flow based on the market you are serving and how your competitors are faring.

Check and Update

Your business plan should be as thorough, visually appealing, and organized as possible. If you need help writing a plan and have the means to, then hire a business plan consultant. There are also plenty of sites out there (and some of them are free) that offer business plan templates – electronic formats for business plans in which all you would need to do is plug in your information.

It’s also very important to note that while you should be proud of your first business plan, it shouldn’t be your last. Much like you would update your resume as your career progresses, you need to update your business plan as your business continues to grow.

Perhaps your company changed its approach to sales and marketing as you’ve learned more about your niche market? Maybe you’re planning to add new products or services? Perhaps your long-term goals have changed, or external influences have caused your cash flow to change? These types of changes need to be included when you do update your plan.

The Benefits of Hiring a Virtual Assistant

November 13, 2021/in Featured Stories, Operations /by Vince Calio

As a small business owner, time and money are your two biggest commodities. Now that the pandemic is (hopefully) winding down, you may be able to save on both by hiring a virtual assistant.

A virtual assistant is typically a contracted employee that works remotely and can perform a variety of mundane tasks, thus freeing you up to focus on the core job of running your business. As more workers want to work remotely nowadays, all you really need to manage a virtual assistant is a phone, computer and an account with Zoom or other video conferencing software. There are also companies such as Belay and Virtual Assistant Assistant that specialize in finding a virtual assistant for you.

Virtual assistants can be hired for almost any type of role, such as:

Administrative work
HR functions
IT support
Data Entry/spreadsheet management
SEO services for your website
Manage accounting/payroll
Blogging
Social media marketing

There is practically no downside to hiring a virtual assistant, and now may be a good time to hire one as businesses bounce back from the COVID-19 pandemic and remote work seems to be the new normal. Roughly 10 million Americans who don’t want to go back to an office have turned to freelance work during the COVID-19 pandemic, according to a survey from Upwork, so there are plenty of candidates out there for you to choose from.

Reduce Labor Costs

Let’s face it – hiring a full-time employee is time-consuming and expensive, especially for small businesses. When you do hire a full-time employee you have to spend time and resources on the onboarding process; you’re on the hook for payroll taxes; medical/dental insurance; granting PTO/sick days and vacation days, and in some cases, offering them a matching 401(k) retirement plan.

A virtual assistant, on the other hand, is an independent contractor and typically is what the IRS refers to as a 1099 employee, so they would be responsible for their own expenses and taxes. Also, as we are in the midst of “The Great Resignation,” finding a full-time, qualified employee who is willing to come to your office for 8-hours a day has become an increasingly difficult task. A virtual assistant would work for pre-agreed upon hours and perform tasks that you specify.

Increase Productivity

A virtual assistant may be even more productive than a nine-to-fiver because they are only focused on the tasks that you assign to them and can work on their own time without the distractions of an office environment or experiencing the daily doldrums of 8-hour day.

In fact, according to career advice site Zippia, the average American office worker only performs about 4 hours and 12 minutes of actual work in a given 8-hour workday. So, if you want to avoid having full-time employees spending half the day at the water cooler, surfing the web, or taking smoke breaks, and you want to avoid hiring the main character from the famous comedy “Office Space,” then hiring a virtual assistant may be your best bet since they would only work on the job for your company on their time.

Increased Flexibility, Better Work Quality

A virtual assistant would not be saddled with the obligation of showing up for a 9-5 workday, rather, they would work around your schedule. Hiring a virtual assistant in a different time zone may even work to your advantage because such a worker could be working during off-hours for you.

Also, as a business owner, consider how much time you currently spend during the day checking emails, answering phone calls, managing your website, social media marketing or blogging about your industry? Those mundane tasks can be handled by a qualified virtual assistant and free you up for more important tasks such as speaking to your customers and managing sales.

Expansion Plans Made Easier?

If your small business has grown to the point where you are debating whether to expand with more employees, then hiring virtual assistants may give you a way to expand without the operational risks of taking on new, full-time employees.

After all, the hiring and onboarding processes are long, expensive, and require a large amount of resources. If you hire full-time employees and the situation doesn’t pan out and you have to terminate their employment quickly – or if they quit soon after you hire them – then a good amount of your time and energy will have been wasted.

If you hire a virtual assistant and they don’t turn out to be the employee you expected, then all you need to do is end the contract.

How Do You Hire One?

The process of hiring a virtual assistant would be the same as hiring any other employee. You would need to advertise the job specifications on employment websites such as Indeed or Glassdoor, or you can advertise the job on social media sites such as LinkedIn. As more workers want to work remotely nowadays, all you really need to manage a virtual assistant is a phone, computer and an account with Zoom or other video conferencing software.

In all, hiring a virtual assistant can bring you endless benefits, free up your time and save you money. Carefully weigh the pros and cons of hiring one before you do.

One ponders and one points at a gargantuan book

Is Your Employee Handbook Compliant?

November 12, 2021/in Featured Stories, Human Resources /by Brandon Wyson

Your company’s employee handbook is one of the most important tools in your business bandolier. An effective employee handbook is the last word on company policies, employee code of conduct, and even new-hire onboarding; it constantly lays out the most updated legal guidelines put forth by the federal and your state and local governments.

Considering its importance, staying on top of your employee handbook should always be a top priority. When was the last time you checked to ensure your handbook is up to date — does it reflect current laws and guidelines? Is it articulating all process and policy changes that you have implemented in the world of COVID-19?

If it’s been a while since your last review, take some time to go through your handbook and use this guide to ensure that you’ve got everything covered.

The Compliance Baseline

There are several items an employer must inform their employees of in one way or another. These essential concepts are the basics of compliance. Adding these items to your employee handbook is the first step to becoming fully compliant with federal, state, and local laws.

You must affirm your compliance with the Equal Employment Opportunity Commission (EEOC). This means that your company is an equal opportunity employer. By being compliant with the EEOC, you affirm to not discriminate against a job applicant or employee, according to the EEOC website, “because of the person’s race, color, religion, sex (including pregnancy, transgender status, and sexual orientation), national origin, age (40 or older), disability or genetic information.”
You must outline your company’s breast-feeding policy. Lactation accommodation laws vary widely between states, so be certain to refer to your local laws when drafting your own company policy.
You must inform employees about your Family and Medical Leave Act policy. The Family and Medical Leave Act affirms that employers must give at least 12 weeks of unpaid maternal or paternal leave; leave spurred by a debilitating health condition; and leave based on several other serious reasons. Employees who take maternal or paternal leave are in a job-protected state during their leave, meaning they cannot be replaced during or due to the leave. This, however, is the federal baseline; almost every state has their own rules regarding leave from work, so make sure those rules are also displayed clearly.

Is Your Employee Onboarding Compliant?

Beyond getting employees acquainted with their new jobs, onboarding is an essential moment for informing employees of their rights at your company. Onboarding in your employee handbook is a great time to remind new hires of their tax and healthcare requirements. Here are a few things to consider including in your onboarding process and in your handbook:

Begin every onboarding with the almighty I-9. All new employees at every company in the United States, D.C. and Puerto Rico must fill out and submit an I-9 tax form before they begin working.
If you plan to run a credit check on your new hires, you must collect a written consent, or signature, before you do.
Healthcare is confusing enough, so save your employees some headaches and be upfront and deadly serious when explaining your company’s healthcare options. Many employers require that new hires choose a plan within 90 days of their hire, so be certain to lay out your company’s policy in your handbook.
During the onboarding process, you’re collecting a lot of personal information. In your employee handbook, assert your company’s seriousness about data protection and privacy. Several states have data protection laws which restrict how long and in what capacity employers may keep employee personal information on file, so be certain to inform employees of their rights to data security.

Is Your Harassment Policy Compliant?

Your employee handbook must have an unambiguous and detailed harassment policy. Harassment is any form of coercion, threat, or intimidation made against a person. Harassment can be verbal or nonverbal, direct, and indirect. Employees who are being harassed may naturally feel isolated and without recourse, so it is paramount that your employee handbook have a sound, effective harassment policy.

Your harassment policy should read like a tree of “if, then” statements with the goal of assuring employees that if they report harassment, it will be acted on seriously and quickly. Be certain to lay out key details of what happens when an employee files a harassment complaint.

Be certain to also explain that if harassment occurs on the basis of an EEOC protected quality, the harassment is also discrimination. The EEOC also requires employers to include a “no retaliation” statement which affirms that employees that report harassment are fully insulated from retaliation by their harasser or anyone from the company at large

Is Your At-Will Policy Compliant?

All 50 states, Washington D.C. and Puerto Rico are under at-will employment guidelines. This means that an employer can fire an employee for any reason as long as the firing is not discriminatory, i.e.: firing anyone for a reason connected to an EEOC protected quality. At-will, however, goes both ways. The same policy means that employees also can quit their jobs or start strikes for any reason and at any time.

When drafting your at-will statement, check your state guidelines to see if you live in an area with either public policy exceptions or implied contract exceptions, as these two changes can affect how at-will works.

The public policy exception affirms that an employer cannot fire an employee if the firing breaks a state or municipal-level law. The most common example of the public policy exception at work is firing an employee in retaliation for their following of a state law. The only states that do not have a public policy exception for at-will employment are Alabama, Florida, Georgia, Louisiana, Maine, Nebraska, New York, and Rhode Island.

The implied contract exception prohibits an employer from firing an employee after oral, written or otherwise assurances of continued employment. If an employer makes a statement regarding an employee’s job security and then counters those claims, the employer has broken an implied contract between them and the employee. By the nature of implied contracts, it can be difficult to enforce these rules in court, but most states have implied contract exceptions. The only states that do not are Arizona, Delaware, Florida, Georgia, Indiana, Louisiana, Massachusetts, Missouri, Montana, North Carolina, Pennsylvania, Rhode Island, Texas, and Virginia.

COVID-19 & Americans with Disabilities Policy

As much as we all would have liked COVID-19 to stay in the “19,” the EEOC now has guidelines that employers ought to include in their handbooks. Many of the EEOC’s guidelines, however, refer to existing discrimination restrictions as well as federal rules from the ADA (Americans with Disabilities Act). The EEOC requires that employers who see employees display visible COVID-19 symptoms may exclude those employees from the workplace. Employers may also ask employees entering a physical workplace if they have COVID-19 or any symptoms. These actions would traditionally count as discrimination under the ADA or discrimination guidelines but both are currently allowed.

The Compliancy Balance and the Ever-Expanding Employee Handbook

Remember that your employee handbook is meant to be used as a reference resource. If your handbook is written like a law school textbook, it will be treated like one and be used sparingly as possible. An employee handbook should have a personality that reflects your brand and company culture. Employees should close their handbooks after reading and feel closer and more connected to their company — whether they’re reading it on their first day or after several years of working with your company. Maintaining a handbook that is fully compliant requires a business owner or human resources specialists to vigilantly watch admittedly dry government bodies and their actions like the EEOC and ADA. As much as the work can be draining, the result is universally worth it: a staff informed of their rights and fully prepared to integrate into your company.

Two hands shaking while wearing military fatigues.

Resources for Veteran Small Business Owners

November 11, 2021/in Featured Stories /by Brandon Wyson

Whether you’ve been in business for years or you’re a veteran who is just starting to consider going down the path of business ownership, you don’t have to go it alone! There are several public and private resources that were created to help Veterans start, operate and fund their businesses. Here are just a few:

Training and Advisement Resources

Boots to Business & Boots to Business Reboot

The Boots to Business (B2B) initiative is a training program offered by the U.S. Small Business Administration exclusively for veterans of the armed services (and their spouses) who are transitioning back to civilian life. B2B Reboot, also an SBA program, offers similar business education courses but extends invitations to all veterans, not just those who are currently transitioning.

Boots to Business courses are a great “step one” for aspiring small business owners, as classes typically focus on key business tactics like creating a compelling business plan and networking. B2B courses are offered in-person across the country and registration is free. Check with the B2B or B2B Reboot websites to see upcoming courses.

Veteran Readiness and Employment Program

Formerly known as the Vocational Rehabilitation and Employment Program, the Veteran Readiness and Employment program is a series of seminars offered by the U.S. Department of Veterans Affairs focused on preparing veterans for a return to civilian life as well as the beginning to a small business life. The VR&E program also gives advice and support to veterans who may have been injured during their service and could have difficulty starting their own business alone.

Veterans can apply for the VR&E program online or at their local Veterans Affairs office.

SBA Veterans Business Outreach Center Program

If you are interested in starting your own small business or have an existing business and are looking for professional advise, consider making contact with your local Veterans Business Outreach Center. The VBOC is run and operated by the Small Business Administration and functions in every state as well as Puerto Rico, the U.S. Virgin Islands, Guam, and American Samoa. These centers are uniquely diverse and offer services from seminars all the way to direct mentoring.

If you are a veteran in any capacity, it would likely be supremely beneficial to reach out to your local VBOC, as they pride themselves on helping veteran small business owners at any step in their business journey.

The Dog Tag Fellowship Program

The Dog Tag Fellowship Program is owned and operated by Dog Tag Inc, a bakery with a mission of educating transitioning veterans of the United States Armed Forces through real-world business experience. The Fellowship is a five-month program that awards completing fellows with a certificate of business administration from Georgetown University or Loyola University in Chicago depending on which program (East or Central) fellows participate in.

All fellows receive a monthly stipend and a full register of courses meant to build veterans’ business sense and confidence. Fellows also participate in hands-on learning at Dog Tag Bakery in Washington D.C. where they can practice real business tactics.

The Dog Tag Fellowship Program accepts applications for the Chicago and D.C. programs in November and January respectively.

Grants and Funding Resources

StreetShares Foundation

The StreetShares Foundation offers small business grants exclusively to veterans of the United States Armed Forces. StreetShares grants reward strong business plans as well as creativity, as each applicant must submit a video explaining how they would use the grant money if they were to win.

StreetShares grants are often awarded in Q4 of each year and the application window usually opens in Q1 of that same year. In the meantime, there are several other grants veteran small business owners may be eligible for.

Hivers and Strivers

Hivers and Strivers is an investment group that solely backs companies operated by U.S. armed service veterans. Hivers and Strivers prides themselves on offering active mentoring as well as direct funding for the veteran projects they believe in. This investment group aims high, traditionally funding projects to the tune of $250,000 to $1,000,000 but all veterans from any branch are welcomed to apply. Veteran small business owners seeking venture capital funding can apply here

Warrior Rising Business Grants

Warrior Rising is a non-profit organization with the mission of empowering veteran business owners. Warrior Rising’s mission statement is to turn any veteran into a “vetrepreneur,” explaining that veteran small business owners can use their military training to make their businesses stronger.

Warrior Rising is owned and operated by veteran small business owners themselves. Through their mentoring and support networks, Warrior Rising aims to harness the “indomitable spirit” of the U.S. armed service member to create a uniquely strong class of business owner, the “ventrepreneur.”

If you would like to join the Warrior Rising support network as a donor, mentor, or member, learn more on the company website. Warrior Rising offers seminars and mentoring services for veterans year-round both virtually and in-person.

Veterans Never Fight Alone

No matter if you are a transitioning veteran or have been back in civilian life for decades, you have a wealth of resources at your disposal to start and operate a successful business. While we’ve run through a few examples, there is one resource that will be your biggest advocate while providing you with invaluable support: your community of fellow veteran business owners; it’s over 2 million strong and always accepting new members. If you know any other resources for veteran owned small businesses that should be included in this list, please contact us at Kapitus.

Soldiers raise American flag before a golden sunset

Inspiring Stories from Veteran Small Business Owners

November 11, 2021/in Featured Stories /by Brandon Wyson

Born from Armistice Day, which marked the signing of the armistice between the Allies of World War 1 and Germany, Veterans’ Day is a celebration of those who have served our country in all branches of the military. The rare, brave temperament which drives people to military service is perhaps one of the purest examples of human resilience. It’s no wonder, then, why so many veterans of the armed services become small business owners. Running your own business requires eternal commitment and unbreaking hard work, something veterans are not only familiar with, but have also embraced as a way of life. On this Veterans’ Day, we at Kapitus listened to the inspiring stories of veteran small business owners from across the country and heard the many unique paths they travel in business ownership. What we found was a thick thread of determination, discipline, and dedication that weaves together the tight-knit community of veteran small business owners in the United States.

Don’t Bet Against Veteran Small Business Owners

“When I first opened my electronics store a few years ago, the biggest challenge I faced was credibility. When people learned about my experience as a war veteran, they immediately started associating me with the army, feeling that I didn’t have what it takes to run a business. Worse still, even my friends and family weren’t convinced that I could successfully run a store. Apart from a select few, no one believed that I had any business acumen. This translated to a period where I witnessed minimal sales. Fortunately, I was able to turn things around with time and experience.

Contrary to what most people believed, my experiences in the army helped me become a better businessman. What I went through in the field of war taught me many valuable lessons, among the most important of which was to never give up in the face of adversity. This perseverance allowed me to hustle through the tough initial years without burning out. Today, my business is doing really well, which wouldn’t have been possible without my experiences in the army.”

Joe Brown, Chief Executive Officer, OMCH

Continuing the Mission

“I feel fortunate because I recognize how my military career provided me with an understanding of how to harness talent and motivate entire teams to work toward not only completing the mission, but also doing so with the utmost integrity and transparency. Nothing demonstrates the value of real teamwork like serving in the military, and my business consulting company’s commitment to becoming genuine partners of our clients—not just their vendor—is a direct result of my service career. Of course, transitioning from the military to civilian life presents challenges for many service members, which is why I’ve used the success of my business consulting firm to start the Charlie-Mike Foundation, which connects veterans with local resources enabling them to create a personalized path for the successful transition out of the military and into their next career. “Charlie-Mike” is the military code phrase for “continue mission,” or pushing through adversity no matter the difficulties. CMF offers veterans access to trained career mentors, personal and family-oriented career plans driven by the veteran’s health, financial and individualized needs, as well as ongoing and long-term career support and resources.”

Mike Del Prado, President and CEO, Executive Option, Las Vegas, NV

Winning the Fight and Business Resilience

“When I transitioned out of the Army in October 2019, I went straight into being a student at a Spanish Language School in Cartagena, Colombia. It was a complete and total lifestyle transformation, and I handled it by staying goal oriented. I adhered strictly to a keto diet, I went to the gym six days a week, and I made sure to participate in my language courses fully. I strove to be selfish and greedy with my participation and getting my questions answered. I made learning the language a fight- a fight which I won.

Just as I finished my formal classes in March 2020, I started to hammer down on growing my business, Apollo Medical Travel. I entered the medical tourism space, with the goal of helping Americans get more affordable medical care in Latin America. As two weeks of international travel restrictions and lockdowns to flatten the curve turned into months, the words of Jocko Willink echoed in my head. “Good.”

I took advantage of inexpensive flights and accommodations at the beginning of the pandemic to knock on doors and get in front of medical and dental clinics to partner with me to attract American patients. With international travel at a trickle, clinics who wouldn’t otherwise have given me the time of day opened their doors to me. People were open to trying new things to

bring in revenue. We now work with a network of 15 dental and ambulatory surgery clinics across Mexico, Costa Rica, and Colombia.

The military instills a great deal of resilience, and that – more than anything – has helped me run my business successfully in turbulent times.”

Wesley Jacobs, Owner, Apollo Medical Travel, Matthews, NC

Veteran Adaptability

“I was a Financial Advisor for most of my life. After more than a decade of helping people manage their budgets, I took a leap of faith and entered the eCommerce space. I am not your typical startup owner who’s young, hip and uses terms like “disrupt” one too many times.

Instead, I started my website in my early 40s with absolutely no background in tech. It was extremely difficult at first to learn about SEO, user experience, influencer outreach and Google’s mysterious ranking system. But over time, I managed to get a good grasp on these things.

We will have our 10th anniversary next month. As a veteran small business owner and also as someone who entered this industry a bit late, I believe I am more patient than my compatriots. I often observe my fellow small business owners, who have just started, trying to achieve results fast. They want to scale within the first couple of years and quite often, this ends up being their undoing.

My background as a financial advisor and now a decade worth of experience running my own business has also polished my interpersonal skills. I can have constructive and engaging conversations with my employees and clients as well.

All said and done, it has been a pretty amazing experience so far and I believe better times are ahead.”

Chris Nddie, Co-Owner and Marketing Director, ClothingRIC, Tustin, CA

Beating the Unpredictable On and Off the Battlefield

“Champion Painting Specialty Services started in 2006, and it took significant research to fully understand the benefits of being a veteran small business owner. Along with navigating the bureaucracy of state and federal agencies and programs, understanding the various aspects was a challenge. No guidebook shows you all of the assistance available. Champion often learned of the available programs and resources only after we had utilized other approaches.

During my time in the Marine Corps, I learned how to operate successfully in times of uncertainty and incomplete information. This skill has transferred over to my time as a business owner. It has driven me to be proactive and adapt to the sometimes-unpredictable scenarios I have encountered as a business owner.

I strive to build my business with people that hold themselves to the same high standards, and my company has reaped the rewards of that goal. Being a veteran has reinforced and influenced the importance of surrounding myself with ethical, like-minded people.

Although Champion has graduated from the small business program due to our rapid growth and success, I am still quite proud of our VOSB designation. Years of experience have finally taught us how best to leverage this status.”

Carlos Hernandez, President, Champion Painting Specialty Services, Miami, FL

Can’t Keep the Veteran Small Business Owner Down

We at Kapitus extend our thanks to all members of the armed services, past and present. This collection of accounts is only a tiny fraction of the veteran small business community which extends from sea to shining sea, all with their own stories of resilience and perseverance. On this Veterans Day, in addition to offering thanks to those who took the oath to protect and serve, consider supporting one of your local veteran-owned small businesses and the owners who continue to serve this nation from their own storefronts.

The Cost of Opening a Dental Office

November 1, 2021/in Featured Stories, Operations /by Vince Calio

Congratulations on successfully graduating dental school and earning your DDS or DMD. Statistics indicate that you are going to have a fulfilling and lucrative career, as US News and World Report’s 2021 Best Jobs Report lists being a dentist as the 9th best job in the country.

The American Dental Association estimates that 77% of dental practitioners own their own practice, and according to the Bureau of Labor Statistics, the average annual salary of a general dental practitioner is $180,830.

Before you set up shop, however, you’re going to have to learn about financing, administration and managing an office. You’re also going to need to become very cognizant about managing your own credit score. According to the ADA, starting a new dental office can cost between $350,000 to $550,000, depending on where you want to be located. Additionally, the cost of acquiring an existing dental practice can range from $500,000 to $750,000, according to Wells Fargo’s health care lending unit.

That, combined with the fact that you probably have student debt piled up, means you will have to take the necessary steps to line up financing if you’re looking to start a new practice or purchase an existing one.

Practice First

Before you think about starting out on your own, you may want to try to join a dental practice first. Doing so for a time will have many benefits when you seek to borrow money: it will allow you to establish your name as a dentist – something that a lender would look favorably upon. It will also give you a salary and allow you to start paying off your student debt (regular payments also help when seeking financing), and it will give you practical experience in the business side of running a dental office (i.e. like understanding the complexities of patient management and insurance).

Additionally, if you’re just starting out, practicing with another dental office gives you the opportunity to be mentored by more experienced dentists who can offer you career and business advice. You also need to become a member of the ADA – something that lending institutions often require when you’re seeking financing.

Assessing Costs of a New Practice

Many new dentists may tend to overspend when starting a practice, so it’s important to itemize what you will need:

Choose a location. This may be the most important decision you make. Your location will largely determine the cost of leasing an office. Real estate in both urban and densely populated suburban areas will obviously be more expensive than a rural area, but you must also factor in your need for patients, so it’s important to heavily research the area in which you want to open shop. What is the location in which you are likely to get the most business for the cheapest office space? What is the competition in that area? Is this a neighborhood in which you want to live or perhaps raise a family?
Price out dental equipment. You’re obviously going to need a dental chair with a spit sink, which can cost up to $15,000, a dental x-ray machine which, according to the type of machine you buy, can cost up to $20,000, and other equipment. Like with any business, you want to find a supplier that you are comfortable negotiating with and that can accommodate your needs at the lowest possible price. Price out each item you will need.
Assess costs of office equipment and software. You’re going to need furniture such as desks, couches and tables for the waiting room, office chairs and most importantly, a computer system. You will also need electronic health records software specifically made for dentists, which range in cost. If you are planning to be a family dentist, you may need to consider turning part of your waiting area into a children’s play area complete with a variety of toys appropriate for kids of all ages.
Create a Website. Every small business needs an optimized website, including dental practices, because the internet is the first place people will turn to when looking for a dentist. Creating a website for your business may be a lengthy but worthwhile process.
Get dental malpractice insurance. Malpractice insurance for any medical practice, including dental offices, is required in almost every state.
Hire Personnel. You are also going to need:

An office manager to keep track of appointments, insurance issues and to greet patients, among other things. According to Salary.com, the median wage for a dental office manager is $37 per hour.
A dental hygienist to handle teeth cleanings, give patients information and help keep track of electronic health records. The average annual salary of a dental hygienist varies from state to state, according to ZipRecruiter. Washington state is the one in which dental hygienists make the most – the average annual salary is $84,957.
A dental assistant to prep patients, sterilize equipment, organize dental tools and assist during dental procedures. According to ZipRecruiter, the average annual salary for a dental assistant ranges from $35,000 to $40,000 per year, depending on which state you are practicing in.
An attorney to assist you with establishing your business as a limited liability company (LLC) or other type of establishment and to obtain business licenses in your particular state and community.
Outside vendors to assist you with tasks that you may not be an expert in, including marketing and public relations, IT and optimizing your website.
A financial consultant to give you advice on how to stay invested in your business and manage your money. Believe it or not, there are actually advisors out there that specialize in working with dental practices such as Dental Advisors.

Create a Business Plan

Like any other small business, in order to get financing, you’re going to need a business plan. You many want to get expert advice on how to create a plan, but these plans generally include:

An executive summary of your business and description on why you believe your practice will be successful.
A brief description of your services, be it a family practice or a dental office that specializes in root canals or other types of oral surgery.
A summary of your practice’s management structure. This is especially important if you are opening a new dental office with another dentist.
An analysis of your competition and marketing strategy. This is a brief description of who you will be competing with in your area and how you plan to attract new patients, and
A financial plan. This is the most important element of your business plan when you go to seek financing, and you may want to consider consulting with an accountant on this. The financial plan will give cash flow estimates; your personal financial information and a detailed description on how you will spend your startup money, among other things.

Getting Financing

Seeing the total cost of starting a dental practice may hurt more than a root canal, but you do have plenty of options for financing. Plus, you have a unique advantage in that most dental practices usually end up being lucrative, and therefore, lending institutions tend to look favorably on them.

Many banks actually have lending programs specifically tailored to funding new dental offices, including Bank of America and Wells Fargo. This is different than with most small businesses that often need years in business and a strong cash flow history in order to secure a loan.

Practice loans often range from five to 12 years, and the rate depends on a number of factors, such as your personal credit score, location, and business plan.

While lending institutions are often eager to finance dental practices, however, getting financing isn’t guaranteed. In addition to a strong business plan, banks will look favorably upon you if you have some experience as a practicing dentist.

They want to see a strong personal credit score, so it’s important to make sure that you are up to date on student loan payments, car or mortgage payments and other bills, and have a strong payment history for any revolving credit cards you may have. If your student debt is overwhelming, you may even consider refinancing it to a lower monthly payment.

Remember – You’re not Just a Dentist!

Like any other doctor or medical specialist, as a dentist your first priority will always be taking care of your patients – as it should be. However, it is important to remember that your job isn’t just filling in cavities and performing root canals. If you are looking to open your own practice, your business savvy is just as important as your dentistry skills, and combining both will allow your practice to thrive.