Key man insurance, or key person insurance, is life insurance coverage a business takes out for an individual employee who is crucial to the financial success of the company. The business purchases the policy, pays the premiums, and is the beneficiary in the case of the death or disablement of the key person. A 20-year…
Ultimate Guide
Oregon Sick Leave Law: What Small Businesses Need To Know
Every business in Oregon—even those with just one employee—is subject to the state’s sick leave law, which requires up to 40 hours of sick time off per employee during a calendar year. Depending on the size and location of your company, sick leave may be unpaid, although some employers are required to provide paid sick…
Administrative Assistant Job Description [+ Free Template]
Writing a strong job description is a key step in hiring the perfect administrative assistant for your small business. It should include the role’s details, requirements, and compensation, as well as information about your company’s culture and application process. Explore the five steps below to ensure the administrative assistant job description you create clearly outlines…
What Is a Section 1031 Exchange, and How Does It Work?
A 1031 exchange allows an investor or business owner to sell a commercial property, acquire another, and defer capital gains taxes in the process. The name refers to section 1031 of the United States tax code. When a property is sold for cash, the net proceeds incur a capital gains tax. However, if the investor…
Sales Performance Management: How to Get the Most Out of Your Team
Sales performance management (SPM) is the combination of processes and practices used to improve sales performance in order to increase revenues. Typically, it includes hitting individual sales quotas, organizational sales goals, and maximizing efficiency throughout the sales process. This article explores the best practices, helpful software tools, and provides an SPM example to maximize your…
FedEx Routes for Sale: The Ultimate Guide
Much of FedEx’s success is due to the over 12,000 independent business owners who own the routes and deliver and pick up packages, keeping the FedEx machine running smoothly. These entrepreneurs hire and train delivery personnel, purchase and maintain vehicles and other equipment, and oversee the day-to-day operations on their route. Where to Find FedEx…
TSA PreCheck: What It Is, How to Apply, and Benefits
TSA PreCheck is a government program that gives low-risk travelers access to expedited Transportation Security Administration (TSA) security lines at more than 200 airports in the United States. You’ll pay a nonrefundable $85 TSA Precheck application fee ($100 for foreign residents), which is due every five years for renewal of your membership. TSA PreCheck can…
Business Succession Planning: 5 Ways to Transfer Ownership Of Your Business
Business succession planning is a series of logistical and financial decisions about who will take over your business upon retirement, death, or disability. To write a succession plan, the first step is to identify the ideal successor to take over the business, then determine the best selling arrangement. This usually involves a buy-sell agreement, secured…