Business Generation

Only a fraction of people prepare as much as they should for tax season. I was burned last year by not saving enough money to pay in April. Jackson Hewitt has decided to give us a few tips so that we are all better prepared.

• Save more for retirement – By increasing retirement plan contributions, you can reduce your income for tax purposes. Taxpayers can contribute up to $16,500 to a 401(k), 403(b) or Federal Government Thrift Savings Plan; those over age 50 can contribute an additional $5,500.

• Prepay January payments in December – Taking care of your January mortgage payment, 4th quarter state tax estimate, or winter semester tuition now lets you claim these payments on your 2011 tax return.

• Get to the doctor – If you are holding off on a major medical procedure until after the holidays, stop procrastinating and make an appointment now to increase your 2011 medical expense deductions.

• Give to charity – Giving cash and non-cash donations to charity can give back on your taxes. And vol

Read more…

Do you know the RSA Animate technique? Have you seen it before? This is a great example, and its also a good business lesson, about motivation.

Whats surprising? Well, to start out, money doesnt motivate people to do thinking tasks better. It does for simple mechanical tasks people work harder for more money but not for real work, cognitive tasks, thinking, and taking responsibility. So say the studies.

As soon as you get to thinking and managing work, what motivates people is autonomy, mastery, and purpose.

Interesting sidelight, that rings really true to me: money does matter. You have to pay enough for people to not be worried about money. To motivate people, you have to take the money problem off the table first. But money alone doesnt motivate.

If you cant see it here, for the original on Youtube. And when youre there, by the way, take a look at the other RSA Animate videos around there. There are several other extremely interesting examples.

I regularly draw the ire of my employees when I tell them that email is not work. I’m poorly wording my message, but the intent is clear. Constantly checking for new emails, and responding to them stops one from being productive. Though I’ve known this for a while, someone from Harvard is now backing me up! Dorie Clark of HBR (Harvard Business Review) gives us 5 habits to help us in 2012. Full article here.

The quick hit list (though I recommend reading the full article)

1. Don’t check for new emails more often than every 90 minutes
2. Don’t continue to perform a habit, just because
3. Dispose of things which are no longer adding value
4. Make sure the work you win, is the work you want
5. Keep it simple!

The Portland Business Alliance board of directors today announced its endorsement of Eileen Brady for Mayor of Portland. “Eileen Brady will bring a fresh perspective as well as a business perspective to City Hall,” said J. Isaac, chair of the Alliance’s board of directors. “Throughout this process, we asked candidates about their views on private-sector job retention and creation, and Eileen has demonstrated to us that she supports our jobs agenda and is committed to improving our economy.”

The board also endorsed Rod Underhill for Multnomah County District Attorney. The board did not take a position in the primary election for Portland City Council Positions 1 and 4 or in the 1st Congressional District general election.

Alliance board endorsements are based on a process that includes candidate interviews conducted by its endorsement committee, followed by a vote by the full board. Two-third

Read more…

Overheard:

I love your optimism. What I don’t like is the complete lack of experience that’s causing it.

Ideally, a business pitch is exciting because the business potential is exciting. Optimism ought to be a combination of potential market, product-market fit, scalability, defensibility, and management experience. Better yet, early sales, initial growth rates, proof of concept in buyers or users or subscribers or signups or something equally concrete.

Frankly, in a business pitch, I mistrust shows of undue optimism, passion, and resolve. I worry that early-stage entrepreneurs are working towards some mythological promise that they have the will to succeed, as if will alone can make a business successful. I don’t want to invest in passion unless it’s tempered by experience and based on a solid business plan.

Read more…

Social media game developer Zynga announced the terms for its initial public offering (IPO) on December 2.

The long-awaited initial public offering plans to issue 100 million shares with a price range of $8.50 to $10.00. If stock options and existing shares are counted, the company has 904 shares outstanding, Reuters reports.

Selling the shares at the bottom of the price range would raise $850 million and provide the company with a valuation of $7.7 billion, whereas pricing the shares at the top of the range would raise $1 billion and provide the company with a value of $9.04 billion.

Zynga was originally planning a larger IPO but decided to downsize its plans in order to avoid following Pandora and Groupon, which both sank after their primary offerings, according to Bloomberg. Read more…