How To Avoid a Million-Dollar Judgment For Using a Picture
A friend of mine writes newsletters for a variety of clients and they often send him photographs and art to include in their newsletters. He always asks if they have permission to reprint the graphics. Usually the answer is “no.” When it is so easy to reprint art from almost any Internet source, it is very tempting to ignore copyright law and get yourself into trouble. And when digital cameras and smartphones make “on the spot” photos so convenient to upload, it also creates a danger for your business. These scenarios can be a problem for all of your publications, but the advent of social media has increased your potential for getting sued. And if you use Instagram, or any of the other platforms that use images in your social media marketing, you need to be fully aware of the legal ground rules. Using people’s images Be careful posting pictures or videos of both “civilians” and employees. Using photos of individuals for commercial purposes is against the law unless you have their permission. And by the way, whenever you’re posting about your business in social media, it’s for commercial purposes – even when you aren’t touting a “half off” sale or any specific deal. You need to get a signed model release. Also, when employees hire on with you, be sure a photo release that they must sign is included in their hire documents. Train employees on the rules. Be sure that anyone who has the ability to make posts in the name of your business understands what is permissible and knows to ask questions when he or she is unsure of the situation. Do not allow untrained employees access to your social media accounts. Respecting copyright Let’s get back to my friend and the issues he faces when designing newsletters. Instead of just accepting images from his clients, he asks about permission and when it hasn’t been obtained, he searches for “legal” images. He uses the Google image search and refines his search to include only those images that are “labeled for reuse.” This narrows his search down to images covered by various Creative Commons licenses and images that are in the public domain. He then follows the rules regarding crediting image owners in his work. Although not as big a problem in small business social media marketing, music is also covered by copyright. Don’t use music without permission. Monster energy drinks got slapped with a $1.7 million jury award after the company used some Beastie Boys music without the proper permissions. Fair use execptions Finally, don’t get sucked in by the “fair use” exceptions to these copyright entanglements. The Fair Use Doctrine allows the reproduction of copyrighted materials “for purposes such as criticism, comment, news reporting, teaching (including multiple copies for classroom use), scholarship, or research.” If you’re a small business using material under copyright in social media, I can virtually guarantee that you aren’t covered by fair use. If you think you might be covered, consult your attorney. Finally, I often hear people say that it’s better to beg for forgiveness than ask for permission; that doesn’t work at all when copyright is at...
read moreBoost the Value of Your Business With an Investment of Respect
Some of you may be old enough to remember when Japanese industry, especially manufacturing, was seen as a juggernaut. It was characterized by the world’s highest levels of quality, unflagging company loyalty and lifetime employment for workers. The quality standards are still there, but the loyalty and lifetime employment are very much on their way out. Blame two decades of tough economic news. Although many have worked for a single company their entire lives, the cultural compact of lifetime employment has never really been part of US society. However, loyalty in the US business world has always been a factor and it may be more important today than ever before. In a world increasingly dominated by social media, brand loyalty within the ranks of a business is critical. The Rodney Dangerfield problem We can excuse the Japanese for losing some of their traditions. Unfortunately, economic realities trump cultural values. However, a Harvard Business Review study finds that around the world it’s a lack of respect from their bosses that turns off most employees. Just over half, 54 percent, said they don’t get regular respect from their bosses. The costs are enormous. Employees are less engaged, turnover rates go up, productivity goes down, healthcare costs increase and certainly these disrespected folks are not the kind of brand ambassadors small business owners want to send out into the world. However, the price of paying respect to people is small and it should be something that business owners proactively pursue. Respect is one of those “tone from the top” items. If you aren’t showing it for those around you, your attitude will eventually transfer to the rest of your organization. It’s important to recognize that there are significant demographic and cultural elements to showing respect. People of different ages, genders and backgrounds can feel differently about what it means to show respect or disrespect to one another. In a multi-cultural country like the US, getting a grasp on all of these factors can be difficult. A language everyone understands However, being polite to one another and expressing gratitude are universal. You have the power to instill value in your employees and as they gain value, it transfers directly to your business. When people who work for you are proud of the job there are doing, it makes your company stronger. If you ever buy or sell a business there’s something called “goodwill” that counts as an asset in the selling price. Major contributing factors in the goodwill asset are how the company is seen by its customers and the state of employee relations. Showing respect for your employees will not only improve your business today, it will greatly increase this asset and boost your payday if you decide to sell. And before we leave the subject, I believe that you and your employees will enjoy getting up in the morning and going to work more each day when you cultivate an atmosphere of mutual respect. That’s a quality of life thing and it’s...
read moreHow To Be a Lucky Entrepreneur
One of my favorite thinkers, good old “Anon,” once said, “The harder I work, the luckier I get.” Generally, entrepreneurs agree with that statement, as a recent survey revealed. Another study of entrepreneurs that I saw said that entrepreneurs are more likely to find success on their third startup attempt. That statistic alone shows us the value of experience and learning from our mistakes. Having the right idea and having it at the right time are two of the important elements of entrepreneurial success. But much needs to be said to put that in its proper context. First, it takes “the right idea at the right time” plus hard work and know-how to achieve success. Second, we only recognize the phenomena of “right idea at the right time” in retrospect, so it may be just as much a construct of our thinking as it is something that is real. Italians luckier than Germans When Swiss entrepreneurs were asked their opinions on luck and other elements that contributed to their success, 78 percent ranked luck at the bottom of the list. However, entrepreneurs in the Italian and French speaking areas of Switzerland ranked luck more highly than the German speakers. So cultural attitudes play a role as well. If you are considering an entrepreneurial move, whether it’s a startup or opening a new branch of your existing business, knowing that luck has little to do with your ultimate success should be comforting. It puts you in control of your future. Further, even the surveyed entrepreneurs who felt that luck was a factor in their projects believed that they could overcome bad luck. Again, that is empowering. Feeling lucky? Where do you stand on the role of luck in business success? If you believe that luck will ultimately have some influence over the direction of your endeavors, let’s look at what you can do to get luck on your side. Luck relates to intuition, the willingness to act and persistence. Some people are more in tune to the direction society is moving. They get a gut feeling about a new service or product. That is probably more common than we think. However, it takes the next step to get the luck rolling; you have to be willing to act. How many times have you or someone in your crowd said, “I had that idea, but I never followed up on it”? I rest my case. Finally, it takes persistence to elevate those good ideas to successful businesses. Let me add one more word of advice concerning luck. When a venture of yours does not work out, don’t blame it on bad luck because you can’t learn anything from luck. Instead, pick yourself up, dust yourself off and consider how you can do things better next...
read moreHow to Harness the Power of Real-Time Financial Advice
We recently discussed points to consider when selecting a person to do the taxes for a small business. I pointed out that it’s critical to find someone who is in business all year long, rather than someone who concentrates on working mostly during the tax season. I was trying to stress how important it is to be able to get current financial information all through the year. This applies to all financial advice, not just small business taxes, and the more “current” the better. As we all know today, nothing is more current than “real time” and this is one of the strengths of cloud computing. Cloud computing makes it possible for a small business team to share critical real-time information about business trends and positions. Upping the value of accountants Many of you know that I do a lot with Sage and for the reasons I’ve just outlined, I was really excited when they announced Sage View last month. To put it in one sentence, Sage View allows accountants to work with and advise their clients informed by real-time financial information. Anyone who is accustomed to sitting down with their accountant and going over “quarterly reports” will recognize at once how powerful this cloud-based service can be. All it takes for an accountant to get going is a subscription and an Internet connection. The interface is all done through a browser, so accountants don’t need to download any software. See opportunity knocking In today’s rapidly moving business environment, there’s nothing more valuable than timely insights and advice. This is exactly what Sage View is designed to provide. Accountants can take their relationships with their clients to a much deeper level and get a much better understanding of what their clients are doing. They can recognize opportunities and alert their clients immediately. Further, because it is cloud and browser based, accountants aren’t chained to the desk in their offices any longer. They can provide timely advice from anywhere and at anytime. It connects to data in Sage One and Intuit QuickBooks. It allows for a variety of customized screens for reports and following key performance indicators. If you’re an accountant looking to offer a level of service that beats your competition, you need to investigate Sage One. And if you’re a small business owner looking for actionable financial and management advice that’s head and shoulders above the rest, encourage your accountant to check it out. Image: The Cloud Illustration, © 2013 Perspecsys Photos, used under a Creative Commons Attribution-ShareAlike...
read more7 Ideas for Great Holiday Business Gifts
Gifts have been a major part of conducting business since, well, people started being susceptible to bribes, which I pin at around day one. I say that with tongue firmly planted in cheek, but we have to admit that in the business world there is a line between noting and honoring an ongoing relationship with a gift and a bribe. Fortunately, the IRS has, in a way, defined that line for us: $25. You are permitted to deduct $25 per person, no more. I don’t think the IRS is necessarily saying that anything more than that is a bribe, but more often than not, it’s a wise idea to keep the value of business gifts at a reasonable level, lest anyone mistake your intentions. Of course, you can give gifts anytime throughout the year, but the subject is often on our minds around the holiday season, so let’s look at some ideas. Gift cards. Here’s a great way to get right to that magic $25 cutoff. Amazon gift cards are the utility infielder of gift items. Your customers and clients can use the money to buy anything from the latest business bestseller to socks. If you know your recipients a bit better, iTunes gift cards are wonderful. Of course, you can’t go wrong with a restaurant or Starbucks gift card either. Electronic gizmo. There are various cool electronic gadgets that you can get for $25 or less. How about a good pedometer? There are plenty available in that price range and they demonstrate that you’re health conscious. Sweets. Giving boxes of candy is standard fare, but if you can find a local candy maker you can put a special spin on it. For example, I know a business in Melbourne, Florida that is located just a few blocks away from Grimaldi Candies, a local small business that specializes in chocolate-covered potato chips. With the advent of boutique candy stores, you can probably find something similar in your area. Liquor and wine. Here’s another traditional gift, that’s probably becoming a little less popular given today’s sensibilities. It highlights the point that you really need to know something about your recipient. If there’s a history of alcoholism or problems associated with drinking, you wouldn’t want to give this gift. Reserve it for people you know very well, and whose drink preferences you’re familiar with. With that said, wine can be a good gift and considering all the local wineries that are popping up across the country, you can make it a “local” gift as well, although state-by-state shipping regulations may cause problems. Charitable donations. On a classic Seinfeld episode, George was collecting holiday gifts for a fictitious “Human Fund.” But in some cases making a donation to a worthwhile and respected charity can be a great way to honor a business relationship. You’ll need to exercise your knowledge and judgment. Books and subscriptions. In the B2B world, anything that adds to knowledge is well appreciated. If there’s a hot title you think everyone should read, buy a box and send them out. A shared event. Getting all your best clients together for a night out and maybe attending a local professional athletic event is always a wonderful way to honor and deepen relationships. Anything from dinner out, to an NBA game,...
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