By: Daniel Mazzei & Justin Friedberg

Why is it so difficult for young professionals to break into their industry? Could it be because of the “generation gap” between them and the already seasoned business professional? Perhaps it is because of the difference in modern business perspectives?

As a young professional who is a product of the digital generation, I have come to notice that seasoned business professionals tend to look down on the newly graduated as inexperienced with a sense of entitlement. However, while I am inexperienced in traditional ways of business, my open minded use of my education allows me to view the marketing world differently than the generation that came before. For instance, was Facebook not conceived by a few college kids in a dorm room?...

Tonight at 7pm, President Obama will address a joint session of Congress to lay out a jobs package estimated to be worth more than $300 billion dollars.  Obama will present tax cuts for middle-class families and businesses; these cuts are the cornerstone of his plan and will push for new spending to repair roads, bridges and other deteriorating infrastructure to help create jobs and improve our country’s worsening substructure...

Yes, I’m serious. Now is a great time to be an entrepreneur in America – never mind the fledgling economy, the big box stores, or the parkways that have eliminated the downtowns of old where your grandparent’s businesses flourished.

In tough times like these, it can be easy to forget the excitement that got you in business in the first place. My friends say I have enough enthusiasm about business for everyone – and yes, that may be true – but you don’t get off that easy… Here are a few reasons why you should be as excited as I am....

By: Jack Signorelli

I’m working with a company that at one point had a product that was not only best in class, but also technically far ahead of its competition. This company created a better way of offering its services and customers loved it and paid for it. Then senior management made a fatal mistake. They went out and asked their customers what features they wanted to see in the product and they delivered on those features.

Unfortunately for this company, its competitors didn’t ask customers what they wanted. Instead, the competitors had a vision of which features and business practices which would deliver greater value. Customers didn’t really see the value at first- until they saw the product. When they tried it, they loved it.

The Basso Business Building Program features a unique format where we work with business owners and professionals to provide them with a formula for success through focused planning, strategic goal setting, weekly consulting sessions and candid video updates of their progress.  Marvin Soskil, the owner of Brett Harrison Jewels and Sluggers Jewels, has been working diligently with the Basso on Business team to make changes in every aspect of his professional life in order to make some major league decision and strategic business changes. This week we talked about taking his presentation skills to the next level by examining the goals for each presentation and delving deep into the process he used to determine those goals...

The Basso Business Building Program features a unique format where we work with business owners and professionals to provide them with a formula for success through focused planning, strategic goal setting, weekly consulting sessions and candid video updates of their progress.  Brian Fagan of All Boro has been working diligently with the Basso on Business team to make changes in every aspect of his professional life in order to achieve his goals. This week Brian took a new strategy when gathering information from prospective clients, taking on more of a detective role.  Asking questions when selling a job to his customers is vitally important; we worked with Brian to help him realize that rooting out all the problems and asking the right questions to get all the facts before closing the deal will leave less room for unfortunate surprises and incorrect assumptions.  

Check out the video for Brian’s candid thoughts and make sure to leave your comments and suggestions.   Make sure to tune in each week for new updates from Brian and the Basso on Business team.  

As an employer, have you ever thought about what makes your organization stand out? Why people would want to not only work for your organization but feel proud to say they do? Having motivated and trained employees is one of the most important aspects of a company. It is nearly impossible for business owners to do it alone when they have plans to expand the business. Compensation is one thing but ask yourself; what keeps your employees willing to put 110% into a day’s work. Sometimes it’s as small as letting your employees know the time and effort they put in doesn’t go unnoticed. Taking the time to train your employees correctly lets them know you are willing to invest the time in them because you foresee a strong future within the organization. Comment below to let us know ways that you help keep your employee passionate about their job!

McDonald’s announced in early April that they would be adding 50,000 jobs in a one-day hiring extravaganza. They will also be using this hiring spree to fight the negative connotation of the term “McJob”. The 50,000 new employees will fill job openings from restaurant crew to managers and will increase the company’s workforce by over 7%.

The term “McJob" was added to the Merriam-Webster Dictionary in 2003 and has remained there despite the company's protests. Personally, I hadn’t heard of the term before, and I don’t know if I would have made the leap from “McJob” to low-wage.  I did a little research to see if the “McJob” deserves its bad reputation?  Some say no.  In order to stay competitive with its biggest hiring adversary, Starbucks, McDonald’s offers flexible schedules, competitive wages, free meals and depending on the franchise owner, health insurance, prescription drug coverage, educational assistance and more.  Taking it a step further, in 2005 McDonald's sought to boost the image of its restaurant jobs in ads featuring singer Macy Gray and track-and-field Olympian Carl Lewis, both of whom worked at McDonald's. Was the campaign to change its image successful?  Apparently not if McDonald’s is still working to change the general perspective during this hiring boom...

A company mission statements helps your employees understand what you’re trying to do as a business owner and what exactly the company should strive for. Your mission statement is the driving force behind your company philosophy. Mission statements should be succinct and easy to understand so that it paints a clear picture of what exactly you want your business to accomplish. When employees feel confident in their mission and rally around it, it makes it easy for others to feel confident in your services.  Since we last visited Jeff Tempone from East Coast Refrigeration, we learned that Jeff not only created and applied  a company mission statement  to his business but asked all of his employees to create their own personal mission statements to help them reach their full potential.  Take a look at your mission statement and ask yourself; is it driving clients to your business?

Overworked?  It may be time to recharge your batteries.

One of the biggest and most common mistakes that small business owners make is failing to delegate.   They carry the responsibility of the entire company on their shoulders, attempting to be involved in every decision at every level whether it’s customer service, marketing, sales, accounts payable while email piles up in their inbox… the list goes on.  It’s easy to get snagged up in the little stuff on a daily basis, leaving less time to concentrate on actually running the company.  Especially in these economic times, business owners are overcompensating, trying to do more with less resources.  The result of burning the candles at both ends?  Burning out.

For a lot of small businesses, the first few months of the year can be slower.  The holiday spending is over, and people are starting to tighten their budgets to save for a summer vacation.   It’s the time of year to get creative and keep your business moving forward.   

When your staff has some downtime, have them hit the phones to call your current clients and make sure they are aware of all the ancillary products and services you offer.  Have everyone catch up on any projects that have been left untended due during the busy times, whether it’s scanning in old files or updating training manuals.  Try to schedule in any refresher courses during downtime as well.  Have your managers take a look at recent office supply orders and make sure they are ordering efficiently.  Offer a webinar on new laws that have passed or run additional training for your clients that may be interested in using or already are using a special product or service that you offer.  Dust off your business plan and make sure it’s updated to reflect your current position and business goals...

It’s estimated that there are about four billion mobile phones in use worldwide. That’s right folks not four million, FOUR BILLION! Meaning that just about 70% of the world’s population is connected to the handheld device. The smartphone industry is growing at an astounding rate and 2011 could prove to be a big year in regards to mobile expansion and innovation.

As a small business owner and business professional, why not take advantage of the huge audience that you’re able to reach. By taking a few small steps you can reach the mobile masses and not miss out on the important thing that is most important, sales. Ensuring that you’ve got a mobile friendly website is one of the first steps you can take towards reaching your audience. There are a lot of great services and plug-ins that won’t break your budget but can still help optimize your site for mobile browsing...

How often do you receive advice about your business that you don’t take literally? Many of us discuss our business plans with consultants, business coaches, other local business owners, and family but it takes a special type of person to take the advice and essentially apply it to their business. At Basso on Business, we would like to highlight particular individuals who not only listened to the recommendations we presented them but took action! Our “Actions in Action” blog will quote our past featured business owners of 2010 and prove that when you act on advice and forge forward, positive change will flourish...

Credit Reporting: Do You Know What Your Rights Are?

Our information is everywhere.  We shop online, save it for e-billing, lose our checking account statements, credit cards and more.  That’s why it’s so important to keep tabs on your credit score to ensure your private information is correct and protected.  I know dozens of colleagues and business owners who have fallen prey to erroneously reported charges from collection agencies among other fraudulent charges or mis-reporting from banks or credit card companies.

The best way to combat this is to stay informed.  Per the Federal Trade Commission, "the Fair Credit Reporting Act requires each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months."

I had the opportunity to appear on the Sean Hannity Radio show on recently.  We discussed everything from Black Friday shopping, economic indicators, recent laws that were passed, outsourcing, the stock market and the effect of small businesses on the economic recovery...

As business owner, it's important to stay informed of changes that may affect your business, especially when it comes to changes in the tax laws.  The recently enacted "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" is a comprehensive tax package that includes, among various other changes, an extension of the Bush-era tax cuts for two years, estate tax relief, a two-year "patch" of the alternative minimum tax (AMT), and a including a two-percentage-point reduction in the Social Security payroll tax for workers. The bill also creates major new incentives for business and consumer spending in 2011, such as new incentives to invest in machinery and equipment, and a host of retroactively revived and extended tax breaks for individuals and businesses...

It's the time of year when everyone starts looking at 2011 and setting personal resolutions, such as losing weight, saving money or taking more vacations.  This year, I challenge you not just to make personal resolutions but resolutions for your business as well...

Integrity matters. Far too often we witness individuals who tarnish their reputation in the market place because of their lack of integrity. Want my advice? Be genuine, pay it forward, and stay positive. Being respected for honesty and integrity will assure that you will never have to worry about falling from grace in the eyes of your peers and business community. Click the link below to check out my full blog “Falling From Grace” at the NY Enterprise Report and find out why integrity matters...

Everyone talks about the Long Island “brain drain” and how lack of jobs and affordable housing are driving the youth off Long Island, but as a business owner or working professional, what can we do to stop this slow exodus of young talent?

The members of the Long Island Elite (LIE) asked themselves the same question, and the result was the Believe symposium taking place on Monday, November 15^th, 2010.  The mission for the Believe Symposium is to empower Long Islander’s to create a better environment to raise a family, start a business and live a prosperous life. By challenging our youth to envision their future and take steps toward their goals, we will help them believe not only in themselves but the possibilities that lie ahead right here at home...

As businesses across the country slowly emerge from the worst economic crisis since the Great Depression, a stark reality is hitting many of them.  The reality is that even though sales are rebounding and companies may even be showing positive earnings, they’re starved for cash.  What’s going on?  The problem is they’re experiencing working capital pressure.

In fact, you may find yourself in this situation.  After stretching vendors as far as you can, as orders pick up, so must inventory and accounts receivable, which increases the cash that your company has tied up in working capital.  For many companies that do not carry inventory, or have become lean managers of inventory, this pressure is solely the result of the growth in accounts receivable that comes with the uptick in sales...

I was speaking at a Chamber of Commerce recently, and asked the business owners in attendance to raise their hands if they utilized social media at their organization. About half the hands in the room went up. When I asked who actively used both Facebook and Twitter, only a smattering of hands went up. I found it surprising that while half the business owners in attendance used social media to a certain extent, only one profile was actively maintained and updated.

I started to think about why this could be the case and thought about how our usage of social media evolved. At my organization, we find both tools very important in getting out our message. We have thousands of followers on Twitter who may not follow us on Facebook, or vice versa, and it’s important our message is heard by everyone...