Written By: Derrick Martin Bryant & Stratton BBA Student

What does it mean to be an entrepreneur? What does it take to succeed in the business world as your own employer? Some entrepreneurs start out small and take their ideas and ambitions to the next level and turn it into a service or product to make profit and be recognized throughout the business world whether small or big. Some popular names that come to mind when thinking of successful entrepreneurs are Bill Gates and Henry Ford. The correct definition of an entrepreneur according to the Business Dictionary is:

Person who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced. 

Every entrepreneur has to start somewhere and most start out as small businesses even though starting out is just the start of their worries.  Susan C. Awe states that:

New entrepreneurs especially will need professional, expert help to start and run a small business effectively and successfully. One skill they must develop is to identify when and how best to ask and receive that assistance. 

This is important to consider when starting out on your own with little to no experience or knowledge of what you’re getting yourself into.

It’s important to seek outside resources and information in order to ensure that one doesn’t fail like so many other small businesses did before them. The key to longevity in the business world seems to be having a good grasp on what one wants to do, focusing on strengths while improving on weakness, and having a good branding image and message that is clear and easily recognizable. There are classes and seminars that can instruct entrepreneurs to better handle their business in marketing, budgeting, and managing their businesses in a way that is profitable and self-sustaining.

Getting started is the easy part, but being able to stand the test of time along with overcoming trials and obstacles will determine your success. There are always risks involved when starting on the road to being your own boss, but the rewards can sometimes outweigh this in the long run. Our country was built upon the American Dream that anyone can make it as long as you have the drive and motivation to succeed. Where would we be without the Henry Fords, the Bill Gates, or the Donald Trumps? Hopefully in the future younger generations will say the same about a new company that was created by someone with a vision and purpose.

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The following items are excerpted from the December edition of HRNotes, a monthly on-line publication of LOOMIS Associates, a local human resources consulting firm. To access full editions of these newsletters, go to the website of Loomis Associates.

More confusion: We already reported the new requirement in NY effective October 26^th that employers notify and get acknowledgement from new employees about their starting rate of pay, pay date and for those eligible, their overtime rate.  Then the state mandated a form that had to be used instead of one created by each employer. NOW, they say it’s ok to use your own letter after all.

HRAlert, 12/9/09

2010 IRS Mileage Rates: Eff. 1/1/2010, standard mileage rates will be 50¢ per mile for business miles, 16.5¢ for medical/moving purposes and 14¢ in service of charitable organizations.  Cite www.irs.gov.

HRAlert, 12/4/09

Party on, Garth – NOT! Fewer employers are planning holiday parties for staff this year (62%), down from 77% in ’08 and 90% in ’07; according to survey by Challenger, Gray & Christmas, Inc. [How’s that for irony?]  More than half are planning them during or at end of workday – a lá ‘Ol Fezziwig.   [For those hosting parties with alcohol, be conscious of the liability risks and plan accordingly. – ed]

To access the complete HRNotes newsletters, please go to www.loomisassociate.vpweb.com

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The following items are excerpted from recent editions of HRNotes, a monthly on-line publication of LOOMIS Associates, a local human resources consulting firm. To access full editions of these newsletters, go to the website of Loomis Associates.

Should a “boss” be a “friend”? The growing use of social networking sites has already blurred the lines between home and work. Now there’s growing concern that workers and managers becoming “friends” can lead to legal risks – i.e. real or inferred recommendations thru LinkedIn or the sharing of way too much personal information through Facebook (300 million so far). As the potential avenues for harassment, confidentiality, and similar issues seems to grow exponentially, employers need to look to their policies and workplace prohibitions.

Beware of Fort Hood-related backlash – The initial swell of post-9/11 religious harassment lawsuits peaked in 2002 but could come back following incidents like what happened at Ft. Hood. While no new laws or policies are necessary, employers should nevertheless become vigilant. Re-affirming and communicating your policies are pro-active steps that can be taken to mitigate these risks, as well as assuring your Muslim and Arab employees and clients that “backlash” will not be allowed.

H1N1 Flu is at hand – Workplaces, like schools, are likely transfer stations for spreading flu, employers need to prepare steps to minimize the risk. Steps to take:

• Encourage or make arrangements for vaccinations
• Tell employees to stay home until 24 hours after fevers pass
• Liberalize sick leave policies, at least temporarily.
• Plan on reduced staffing levels
• Arrange for work from home
• Enforce workplace cleanliness; provide hand sanitizers
• Alter workplace meetings, work stations, travel.

For more information, contact www.cdc.gov/swineflu/ or www.pandemicflu/gov

Written Acknowledgement of Pay Info - A NYS law to become effective 10/26/09 will require all employers to obtain a written acknowledgement from new employees that they received information on their pay date, pay rate and overtime rate (if nonexempt). This amends section 195 of NYS Labor Law. Follow up regulations may clarify questions about fluctuating O/T rates, rate changes and multi-lingual requirements. [Note: employee handbook receipt will NOT meet these requirements.]

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