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Keeping up with trends helps entrepreneurs seize opportunities while dodging any unforeseen traps.  The internet makes it extremely easy to learn what technology or practices are upcoming, changing, or fading in business, but not all sources can be trusted.  This article discusses some of the predictions that various experts have made that you will be better off ignoring rather than changing your plans based on them.

 

Some analysts that specialize in business trends boldly declare that entire industries will soon die while forecasting the success of a new or existing industry.  Although there’s often a slight truth to such predictions, the forecasts are typically based on inadequate research.

One blog has made the prediction that by 2020, the storage media industry will disappear due to an increase in cloud storage.  Even though it’s true that cloud storage is growing increasingly popular, the claim that other forms of storage media will completely disappear is misleading.

Some small businesses use an Indianapolis website design that works great on mobile devices while making the mistake of ignoring what desktop users encounter.  Of course, mobile browsing is more popular but that doesn’t mean desktop use is coming to an end.  It would be better to use an Indianapolis website design that’s responsive on mobile devices and desktops.

 

Another claim you may hear is that a few investors are flocking to the crypto currency market but is it wise to make business decisions based on it?  Likely not since reputable investors are scrupulous and pay attention to detail as they make strategic decisions based on sound research.

Change in the world of business can be rapid and wipe out businesses that fail to act appropriately which is why it’s a good idea to always be vigilant.  However, before you jump into a business decision or abort any important projects, take the time to dig deeper and research how the trend forecast will affect your specific niche.

Although changes in tax laws are often unpredictable, they can have a significant impact on business returns and deductions.  New tax laws are coming into effect all the time and some of them are designed to bring positive changes, while others mean inflated costs.  Of course, the best way to protect your business is to speak with a tax professional and use the practices discussed here to help you save on taxes.

 

According to Topic No. 514 of the Internal Revenue Service, employees are allowed to deduct particular expenses related to work.  You could log these expenses and ask your workers to deduct them when filing returns.  This will give employees a bonus and it might lower the amount of income tax payable.

 

Nowadays, small business websites are a means for receiving donations and raising funds for charitable causes.  One area of concern is if the money raised is taxable.  If you’re not aware of what is exempt from taxation, make sure you consult with a qualified tax expert before making a decision.

Aside from the incomes, you also need to keep track of receipts.  Certain business expenses reduce the amount of taxable income but you need proof to take advantage of these deductions so keep all your receipts.  Besides, in the event your business is audited, the receipts can serve as proof of the expenses.  Some businesses that sell online are even using plug-ins on their small business websites so they can track expenditures.

 

A business that files their taxes at the last minute is at risk of paying a penalty.  Late payments usually lead to penalties which essentially increase how much you pay in taxes.  Businesses that stay organized throughout the year and get the required documents together early often pay on time.  Many businesses also use tax preparation software to speed up the filing process and that helps keep everything accurate.

Growth might seem like a good turning point but that isn’t always the case for some businesses.  One of the problems associated with growth is the difficulty that comes along with serving all customers efficiently.  Also, many businesses tend to get carried away, focusing on seizing more opportunities, and lose their uniqueness in the process.  The following strategies will help you achieve sustainable growth.

 

You may specialize in offering an Indianapolis website design and usually have 50 clients a year but now the number has increased to 200.  With only 50 clients, you had the time to explain to clients the process of building their website and what factors affect their SEO.  Now that your business has grown, you likely feel that you’re not able to be as thorough as before.

The benefit of transparency is that it provides value beyond money, thereby instilling trust and loyalty to clients.  So, rather than focusing on closing sales, perhaps it’s better to continue showing your clients how they benefit from an Indianapolis website design.  In the long term, this approach will be better for business as opposed to expanding your client base.

 

As your business grows, you might be tempted to attend to the needs of clients who do the most business with you and ignore smaller clients.  While this may seem like a good idea for business at the moment, it’s not very beneficial for building your reputation.  Often, people label your business as not being loyal since the focus is mostly on money rather than service and value.

 

Naturally, people don’t like change too much and that’s why a simple change such as altering the company logo might have adverse affects.  Even after achieving unrivaled success, retain the aspects that the market identifies you by.  Nevertheless, growth can be a troublesome time if you don’t have an essential strategy in place for dealing with more customers!