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What You Need to Know About Overtime!

Posted By Kenyatta Turner, LegalShield Independent Associate, Monday, June 26, 2017
WHAT YOU NEED TO KNOW ABOUT OVERTIME

 

If your employees work more than 40 hours per 7-day workweek they may be entitled to overtime pay. New overtime rules were set to take effect late in 2016. These regulations would have expanded the number of employees eligible to receive overtime pay but they are currently tied up in federal court. It is vital that you observe the current regulations to avoid potential fines or litigation. If you have questions about state or federal overtime rules, contact your LegalShield provider law firm.

  • Current Rules - Federal overtime regulations are part of the Fair Labor Standards Act (FLSA). The FLSA entitles employees working more than 40 hours in a workweek to one and one-half times their regular pay rate. If your business has, “an annual gross volume of sales made or business done of $500,000 or more” you are required to pay overtime. All schools, hospitals, medical facilities and public agencies are required to pay overtime. Click here to determine whether FLSA applies to your business.
     
  • State Regulations - Many states set additional rules for overtime pay. California, for example, requires overtime for those who work more than 8 hours in a day and double pay for those who work more than 12 hours in a day. Other states set specific thresholds for businesses that must comply with overtime rules. Arkansas requires employers with more than 4 employees to pay overtime. Click here to view a map highlighting current state overtime laws. It is important to understand both the federal and states regulations where you do business.
     
  • Exempt Employees – There are exemptions for some executive, administrative, computer professionals and other professional service employees.

From the Department of Labor:

A. Currently, to qualify for exemption, a white-collar employee generally must:

  1. be salaried, meaning that they are paid a predetermined and fixed salary that is not subject to reduction because of variations in the quality or quantity of work performed (the "salary basis test");
  2. be paid at least a specific salary threshold, which is $455 per week (the equivalent of $23,660 annually for a full-year employee) in existing regulations (the "salary level test"); and
  3. primarily perform executive, administrative, or professional duties, as provided in the Department's regulations (the "duties test").

Certain employees are not subject to either the salary basis or salary level tests (for example, doctors, teachers, and lawyers).

  • New Rules from 2016 – Overtime exemption thresholds were set to nearly double in December of 2016; however, the new rule is currently tied up in court. There is a great deal of speculation about the fate of the new rule with many expecting a change in direction from the new administration. The U.S. House of Representatives recently passed a bill that would allow certain employers to offer comp time instead of overtime pay. The bill still must pass the Senate but it is yet another sign that changes are coming. It is important for all businesses to follow these changes carefully.  If you have any questions, contact your LegalShield provider law firm or Kenyatta Turner at 602-367-1069 or kenyattaturner@legalshieldassociate.com.

Tags:  Accounting  business owners  business resources  business risk  business services  employees  Employers  Hiring  HR  human resources  labor  legal  legal services  management  small biz  small business  small business owner  startup  tax  wage hour lawsuits  women-owned business 

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3 Reasons Your Small Business is Failing

Posted By Kim England, Fast Inc. Network, Wednesday, June 14, 2017

There is no time like when an idea, opportunity, passion, and resources all unite at once in the formation of a new business. The passion drives you to spend endless amounts of time chasing after your goals. You feel like you have these wonderful ideas that are finally taking shape. So what exactly was it that drained the life from your small business?

Isolation. Self doubt. Invisibility.

1. Isolation:

You have spent so much time under the surface level of these goals that you no longer remember the resources you have above water. This is how isolation works. A talented business owner is cast away into a creativity-killing abyss.  We seem to have this insane notion that successful people are completely independent.  This idea could not be further from the truth. Isolation avoidance is an integral part of a successful business. If you want to achieve your goals you need to rub elbows with those who know how it is done. Ideas take flight when exposed to the minds of entrepreneurs who know what they are talking about. We all want success. Why not help each other get there?

2. Self Doubt:

Ever wonder why great athletes talk so highly (dare I say, arrogantly?) of themselves? They know that to ACTUALLY be the best, they have to believe they ARE the best. This same concept works in the business world. When the newness of a small business fades, business owners can be left with a feeling of doubt and anxiety for the future of the company. This just might be the most dangerous position for a small business. You have to KNOW that you are a great business owner, that your ideas are good, and that you have what it takes to lead your business to success.

3. Invisibility:

Think you can lead a successful business without a strong social media presence?

THINK AGAIN.

We live in a media driven culture. People ask Facebook which dentist they should go to, how many eggs go in that highly-talked about recipe, and who to do business with. This reliance on social media opens a world of free advertising for small business owners, but you have to know how to work it. Which hashtags attract your target audience on Instagram and Twitter? What time of day do most people engage with others on social media? These are the types of questions you should be asking yourself. Make 2017 the year of your small business’ social media revival.  Isolation, Self-doubt, and Invisibility can be difficult obstacles to tackle on your own.

Take the first step out of isolation and sign up today for our Fast Inc. Network Founder’s Circle, September 22 & 23! For more information visit www.fastincnetwork.com

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Tags:  arizona small business  ASBA  business  business owner  entrepreneur  small biz  small business 

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Why Positivity Matters

Posted By Kim England, Fast Inc. Network, Thursday, May 25, 2017

 

3 Tips for Staying Positive as an Entrepreneur

You know those people that always seem SO happy? I am talking always peppy, always smiling, and always nice. If that is not your typical demeanor, you have probably found yourself wondering how they keep it up. Surely not everything is always going well for them, and we all know that bad times are inevitable. It is easy to tell others how helpful it is to be positive when everything is going well. Why wouldn’t it be easy to be positive when you are in a position of success? You are achieving your goals, so you can easily be positive about at least that. However, we know that you are not always going to be in a place where you can see the growth that is occurring.

So how can you stay positive during those times that feel more like a valley than a mountaintop? Let’s explore some practical ways to practice positivity in your everyday life.

  1. Don’t let the little things slide by. When we fail to see the little things that are going our way, we can quickly fall into a state of negativity. Especially as an entrepreneur, those little tasks that you complete throughout the day snowball into significant, life-changing advances in your career. If you find yourself bored by the monotony of your daily agenda, do something to change it up that excites you. Not everything is going to be sunshine and roses. Nobody expects that. You do have the ability, however, to find the greater meaning and potential in the little things.
  2. Disassociate with negativity. Once you have reached adulthood, you don’t really hear anything about the power of peer pressure, but do not be fooled by thinking it no longer exists. Simply by nature, we tend to take on the characteristics of those we choose to associate with. This also applies to business. If the people you network with do not maintain the level of positivity that you need to thrive, it may be time to find new connections. Find business role models to look up to that produce an atmosphere of good energy and respect for others. Not only will this immediately raise your game, but it will also help you to model that same type of energy in your company.
  3. Gain the knowledge you need to succeed. Speaking of raising your game, there is nothing that will boost you up as an entrepreneur like accessing resources that provide you with applicable information for your company. Finding the right business coach to lead you in the right direction can certainly keep you from falling into a place of negativity. By having someone there to keep you focused or redirect your focus to a new area, you can train yourself to be more positive about your business. Another great way to increase your knowledge is by attending events that connect you with successful people. Fast Inc. Network’s Business Accelerators can provide you with instant connections with some of the most successful and positive entrepreneurs.

Sign Up Today for the Fast Inc. Network Business Accelerator this June 7-9 in Phoenix, Arizonawww.fastincnetwork.com/june2017

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Tags:  arizona  ASBA  business  business owner  business owners  entrepreneur  small biz  small business  success 

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Building the Perfect Team

Posted By Kim England, Fast Inc. Network, Friday, May 5, 2017

As small businesses look to grow and expand, hiring becomes part of the game. As a business owner, it’s often tempting to do everything yourself. But trust me, with the perfect team in place you’ll be able to scale and grow in a more sustainable and successful way.

Without sugarcoating it, there is a risk for failure when you bring new people into the fold.

Entrepreneurs are great at the thing they’ve created a business around, but they aren’t always as savvy when it comes to managing and hiring the right people. That’s why when I work with businesses; I emphasize the importance of finding the people who fit the culture, especially during the early hiring process.

With the perfect team in place and a commitment to creating synergy with that team, you gain access to growth. The biggest asset you have is your people, so building a high-performing team is one of the most effective mechanisms for growing your company. But how do you find those people?

Define Your Core Values

First, be truly committed to what your business is up to. What is your mission and what are your core values? Before you jump into hiring, you need to know what you stand for before someone else can stand for that with you.

Hiring for Culture

From there, you can look at what attributes and personality traits are most in line with your brand and develop a hiring strategy around that. Remember, you can always teach tangible skills, you can’t teach attitude and personality.

Pay Attention to Personality Types

As far as personality goes, there is a type of person that thrives in a startup culture. That person is hungry and eager to learn and grow. The person who displays initiative and is willing to take risks will prosper in the fast-paced entrepreneurial culture. Unlike traditional corporate positions, look for people who seek forgiveness and instead of asking for permission. Opinionated individuals who are willing to take a stand for their beliefs are the kind of employees who will stand up for your company and its mission.  

Keep Going!

Hiring isn’t easy. You might strike out a few times and have employees that don’t fit your culture or mesh with your core values. Don’t give up. Having a team and employees who keep you accountable, push you, and generate new ideas will make your business successful and help it grow for years to come!

To learn more about how you can hire the right people and build the perfect team, join me at the Fast. Inc. Business Accelerator in Phoenix from June 7-9. Register now at www.fastincnetwork.com/june2017.

ABOUT THE AUTHOR

Rachel Scava is a lawyer and the COO of Fully Accountable, an accounting, finance and human resources full-service and software solution for small businesses. She is passionate about helping businesses grow and hire the right people on their team; she speaks at events as a Culture Expert.

 


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Tags:  arizona  ASBA  business  business owner  entrepreneur  small biz  small business  success 

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#MemberMonday

Posted By Administration, Monday, February 27, 2017
Updated: Wednesday, March 1, 2017

It's ASBA's #MemberMonday! This week we're telling you a little bit more about four of our newest ASBA members. Read on to learn more about these fabulous small business owners and how you can connect. 

Meg.Marketing

Leave the marketing to Meg! As a Facebook Marketing Expert (and former Facebook employee), Meg Brunson has mastered the art of social media. Her expertise provides the social presence that local businesses need to effectively reach and engage with their target audiences through social media, freeing up the local business owners to focus on what they know best (their business).

Click here to connect with Meg!

Don Rice Agency Farmers Insurance

As a local Farmers® agent, Don helps customers identify the insurance coverage that best fits their needs. His process is straightforward and personalized to help make you smarter about insurance. Don's knowledge and experience will help you better understand your coverage options--whether that's auto, home, renters, business insurance and more.

Click here to connect with Don! 


Boisset Wine Ambassadors

Curtis J. Kaufman is your own personal wine expert. His knowledge will help you choose the right wine and discover the best pairings for you. Keep his services in mind when hosting your next happy hour mixer or family function!  

Click here to connect with Curtis!

Rubicam Writing

With experience in copywriting, editing, SEO keyword implementation, content management, development/implementation of email marketing and social media campaigns, creative writing and freelance journalism, Wendy Rubicam is your go-to for all things writing! Through Rubicam, Wendy focuses on how to best communicate with customers to create lasting relationships, helping clients find their “voice” and develop their message, and using publicity and social media to maximize marketing efforts.

 Click here to connect with Wendy! 

Tags:  Events  New Members  News  Small Biz  Weekly Update 

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It's Not Too Late! Last Minute Gift Ideas

Posted By Administration, Friday, December 23, 2016

It’s Not Too Late! Last Minute Gift Ideas
From Stocking Stuffers to Novelty Gifts, ASBA Members Have it All!

 

 The end of the year has become known as a time for giving…gifts that is. Whether you celebrate Christmas, Hannukah, or even Festivus, odds are you partake in the yearly tradition of gift giving. If it’s finding the perfect present for your office Secret Santa, or snagging a deal on an item for the annual family gift exchange, ASBA is here to help! In the spirit of shopping small, our holiday gift guide features the goods and services of ASBA’s very own members. Enjoy!

 

A Sweet Treat!

Spoil those closest to you with a treat from local bakery Sweets By AmyLew. Whether it be a batch of homemade cookies or some fresh, festive cupcakes, you surely can’t go wrong with one of Amy’s handcrafted confections.


Bottle Opener

            Contrived from 50 caliber bullets, Bottle Breacher brings you a fun way to crack open a cold one at your next party, BBQ or family gathering. Made from dummy ammunition, these products are completely safe and are sure to be the perfect gift for the cocktail connoisseur in your life.


Gift the Love of Reading!

            From page turning nail-biters to foodie favorites, Barnes and Noble has a story for everyone. Aside from books, they’ve also got a great selection of games, music, movies and more!


 

 For the “Health Nut” in Your Life

            With all the hustle and bustle of our day-to-day lives, it’s easy to forget about the importance of a healthy mind and body. In the midst of trying to balance ones professional, personal and social lives, it’s sometime difficult to dedicate an hour of the day to hitting the gym. This is why REWIND is the perfect gift for anyone looking to get in tune with their body without having to make the commitment of being at a gym or class at a certain time. REWIND yoga is a comprehensive program designed to work all body parts through deep breathing and relaxation techniques. The best part is that you can do them from your desk! The exercises are fun for all ages.