Welcome To Waymakers

We Welcome you to Waymakers Blog, he we will post important articles and discussions on all aspects of Business Process Outsourcing, PEO, Enhanced Payroll and Management Consulting and how they might effect your business. Please check back often or follow us on Social Media.

Thank you
Alfred Robinson
CEO

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Have you ever considered that the organization you currently work for treats you as an investment? They pay you a salary (dividend) based on the revenue you generate for them. If you are paid $50,000 per year, we can assume they are at least earning $500,000 based on your contributions. That means that you are a cost of 10% to the organization. We have no problem understanding this concept and demanding our fair pay. Why do we dismiss this logic when we are considering buying a franchise that you can manage either as an absentee owner or day to day operator. Think of it this way if you invest $250,000 in a franchise and you are able to take out $50,000 as a salary that means your return is 20%. Even if you only earn $25,000 that is still a 10% return. I have heard comments that if this is all I earn then I am just buying a job. So be it. There is a level of security in ownership. However if you were to invest $250,000 in the stock market you are hoping that you can earn 10% a year. You are clearly told up front that the market will go up and down and no one can predict it. But if you stay in the market and ignore the irrationality you can earn the historical average of 10% over 40 years unless of course you need the money in a down period. In the market you have no control but if you purchase a franchise then you can bet on yourself. You can bet on your passion, integrity and commitment. You can ask yourself how bad do you want it. The other option is to invest your funds with a broker or no-load mutual funds who earn their money on your investment and not the fund performance. Yes I know some will say they get paid on performance but it is rarely totally true. If the market tanks, what does your financial advisor say… you knew the risk. Deal with it. Both options are a risk, the question you need to ask is who do you have more faith in? You or the market

Posted by & filed under Payroll, PEO .

Most Americans earn less than $20 per hour. Most business owners spend their days working on jobs that pay less than $50 per hour. This last statement explains why so few owners are creating valuable businesses.
Even if an owner works 3,000 hours per year at $50 per hour, they will earn $150,000 (at most). This is the path to exhaustion and not financial freedom.
Owners who are creating valuable businesses spend most of their time working on jobs that pay at least $500 per hour.
The chart below shows the linkage between hourly pay and various activities:
TACTICAL $50 per hour
-calling one off prospects
-dealing daily with A/R and A/P
-hiring and firing low level employees
-running the proverbial forklift
STRATEGIC $500 per hour
-calling on top 5 prospects
-negotiating contractual terms
-creating the company culture
-creating the systems of operation
STRATEGIC $5,000 per hour
-choosing the next niche
-creating the pull marketing system
-monitoring/enforcing KPI’s
-positioning/maximizing the exit
You can see that the $500 per hour activities are all strategic and cannot be outsourced.
Compare this to how most business owners spend their days
– creating estimates or quotes
– processing payroll and human resource issues
– dealing with employee issues
– meeting with vendors
– talking on the phone about stuff that does not matter
– dealing with various logistical issues
– doing other people’s jobs
These are tactical issues that could be outsourced to people who have mastered their execution.
How may hours each week would you need to work if you focused on  $500 – $2500 per hour activities? Probably less than 15 hours per week. It does not require you to work 60 – 80 hours per week as if it is a virtue.
Ask yourself two questions: 1. How many hours each week do you spend on $500+ per hour activities? and 2. What can you do to get out of your  $50 per hour groove?
Much Respect
Alfred Robinson – arob@waymakerssolutions.com
Sourced: rob slee @midasnation.com
 

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MEDC Kicks Off Local Food Initiatives Two new grant programs support food entrepreneurship and placemaking! The Mobile Cuisine Startup Program is aimed at expanding the mobile cuisine (a.k.a. food truck) industry throughout Michigan. To contribute to quality places that people want to be in, projects should offer easily accessible and unique food options to patrons in public spaces and contribute to the local economy by working with other local businesses and farms. The intent of this program is to assist with community and economic development by increasing pedestrian traffic in downtowns and traditional commercial cores.  Businesses registered in the State of Michigan are eligible applicants.  Expenditures include but are not limited to the purchase or renovation of a food truck or culinary equipment, operational costs, advertising and marketing.  Grants will be up to $10,000 with a minimum 25% match from the applicant. The Farmers Market Grant Program provides funds to existing farmers markets. Projects for consideration include unique and innovative design elements, amenities for patrons and vendors, multi-use spaces, multi-modal transportation, signage, marketing and education. Projects that make markets more accessible to residents are also preferred.  Grants funds will be in the amount of $10,000 – $50,000 with a minimun 50/50 cash match.  Eligible applicants include ag co-ops, local governments, non-profits, tribal government, etc. (individuals may not be applicants). Requests for proposals and details can be found HERE. Grant applications are due July 1, 2013. Please contact NLEA staff  if you need assistance with a grant application.

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I spoke with candidate this morning and he described his current job search this way.  Most companies are looking for the right fit for the current position.  Companies do not appear to be looking for the long term growth potential that the individual brings to the organization.  Thus why you get the statement, the candidate is over qualified. I would love to know your thoughts.

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There can be no doubt that the concept of contingent workers and independent contractors is here to stay. The law is rapidly progressing to address the potential liabilities for all parties concerned. With the increased emphasis to crack down on misclassifications, every employer should reduce their exposure by paying close attention to their obligations and potential liabilities for contingent workers. Misclassification can lead to a variety of serious legal consequences, including liability for failing to withhold and to pay the employer’s share of payroll taxes, exposure for failing to include the individuals in employee benefits plans, the tax qualification of retirement plans, back wages, and various damages and penalties for failing to comply with wage and hour requirements. The federal government has ramped up inspection of employers to uncover misclassification and impose even heftier fines upon transgressors. In 2011, the Department of Labor collected over $5 million in back wages resulting from employees either being misclassified as independent contractors or otherwise not treated as employees. The Department of Labor’s 2012 calendar budget nearly doubled the allotment of funds to contest worker misclassification by investing $46 million for a multi-agency program which will fund state grants that address worker misclassification. The 2013 calendar year budget commits $14 million to combat misclassification, as well as a request for $238 million for the Wage and Hour Division for increased enforcement of the FLSA and the Family Medical Leave Act (“FMLA”), which will assuredly include focus on the misclassification of workers. The Wage and Hour Division will allocate its funding toward the hiring of an additional 35 full-time investigators as part of its initiative to detect and deter “inappropriate misclassification of employees as independent contractors.” Investigations by the DOL have spanned across the country and hit every industry from convenience stores to insurance carriers and everything in between. The size of the employer has no bearing on the investigations either, where the DOL has recovered back wages and damages for as few as 11 employees to as many as 680 employees. As the DOL actively seeks to sign MOUs with individual states, the independent contractor classification becomes more tenuous and risky. Some states, such as Michigan, Iowa, and Wisconsin, have created taskforces whose primary purpose is to uncover misclassification. Heightened governmental attention to these issues will undoubtedly lead to more private civil lawsuits.

Posted by & filed under Background checks, Contingent Workforce, Payroll, Temporary Staffing .

PRESS RELEASE – WayMakers Solutions
Media Contact Al Robinson Email: arob@waymakerssolutions.com Phone: 248.703.7168 FOR IMMEDIATE RELEASE: Monday, November 05, 2012   Waymakers Solutions now provides Background Checks Troy, Michigan, November 5, 2012.  Waymakers Solutions now offers instant and affordable complete employment screening solutions. Clients get secure and affordable access to a web- based national criminal and sex offender directory. Clients also get access to motor vehicle reports, credit reports, county criminal records and much more.   Employers may visit Waymakers website and immediately begin using this new service. About Waymakers Solutions:   Waymakers is a Professional Administration Company that provides business owners cost- effective employee and human resources management systems. Waymakers uses a managed service approach offering staffing, multiple platforms and vendor solutions. Waymakers provides value added solutions to business owners so that employee management becomes more efficient and affordable. Contact Al Robinson at Waymakers Solutions by visiting http://www.waymakerssolutions.com or by calling 248.703.7168.

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WHAT TO DO WHEN BUSINESS IS SLOW As small business owners, entrepreneurs or soloprenuers, some of the most difficult challenges can be to maintain a steady flow of business throughout the year.  Every business no matter the size faces seasonal changes in revenues.   The seasonal rush varies by industry and is likely to span an entire quarter.  We all know what to do when business is good and that is to serve our clients and customers with ultimate professionalism and care to keep them coming back.  But, what to do when business is slow?  Here are five tips to keep you humming and attracting more business during the down times. Don’t Panic First and foremost, take it easy.  It is understandable that bills need to be paid as well as payroll, etc, but this is not the time to get in over your head with thoughts of worry, stress and anxiety.  These thoughts only attract more of what you are feeling to you, thus causing more stress and worry. Instead, focus on where you want the success of your business to go.  Find yourself in the comfort and good feeling thoughts of your ultimate goal by imagining that you are already there.  These thoughts will help put you in the flow of devising a plan of increase as opposed to waddling in feelings of anxiety.   Do Contact Existing Customers & Clients Did you know that it is more than twice as hard to gain new customers than it is to get your existing customers to buy from you again?  Here’s why;  you must work to gain the trust of a new customer while your existing customers have already tested your services and have built a trust factor. So, pick up the phone and give them a call, shoot them an email or get your newsletter going to send out pokes to wake up the sleeping giants.  Keep them coming back by staying in their faces, time and time again with good information, specials and deals. Do Get Creative What did you do to gain your current clients?  Lather, rinse, and repeat this process and take it to the next level by getting your creative juices flowing.  Spy on your competition to see what they are doing and find a more creative way to implement the process to make it work for you.  Creativity will make you stand out and could more thank likely spark a following. Do Up-Charge Social Media If you are not socially engaged, this should be your top priority during your down season.  Social media management and marketing is time consuming at least, so use this time wisely to learn what to do and test it out to see if it works.  There is tons of information on how to be socially engaged and how to engage with your customers and clients. It is not necessary to hop on all social media outlets at once.  I would suggest testing out possibly two at a time to see what works in your industry. Do Network Building relationships is how to continuously build the success of your business.  Attend local networking events by searching your location in portals like Meetup.com.  If there aren’t any in your area, create one so that others can join.  It is likely there is another you out there looking to meet up in your location. Join several Chamber of Commerce organizations in your community and surrounding communities.  These organizations are designed to promote, develop and support businesses.   There are usually monthly networking events and other events put on by these supportive organizations. Networking doesn’t always constitute leaving the house.  Nowadays, networking through social media is key.  As you build your social media presence, this is the time to search for your customers and clients.  Follow them to get a follow back and post useful information that your potential customers can use.  Its okay to pitch products and deals once in a while, but focus on posting useful content that you following will share, thus increasing your brand awareness and expanding your network. If you are not networking on Linked In, you could be missing out on a golden opportunity.  Linked In is the social networking place for businesses and millions of your potential clients and customers already have a profile.  Take networking viral and use this portal wisely to find the go to people in your targeted market as well as your potential customers. If you have not created your Linked In profile or you have one but it needs a boost, see this article highlighting 4 easy ways to boost your Linked In profile. Do Advertise The best practice for advertising is to setup your campaigns and test them out during your busy season or when you have a steady flow.  Measure the results to determine what works.  At this time set aside a budget especially for advertising that will carry you through the slow periods.  Don’t stop the campaign in a panic if it there is a positive return on investment. The success of your business is all about having a plan while focusing on the over-all goal.  If you continue to keep busy while building when the pace changes, then your business won’t appear to be so slow because you are paying more attention to your goals than the bottom line.  Stay focused.  Eventually, you will have worked your way to a steady flow each quarter. Leah Fairman is Sales Director of CorporateSNOBS.com, the go-to place for promotional products and apparel, web services and social media marketing; all in effort to help you Build Better Business. Connect at: www.facebook.com/corporatesnobs www.twitter.com/corporatesnobs http://www.linkedin.com/company/corporatesnobs Follow #bbbiz for useful information on how to Build Better Business!