Blog
We take an informed look at how President Trump's "One Big Beautiful Bill" Act may affect small business owners and their employees.
It doesn't seem that long ago, in 2021, when the job market was ripe with opportunities for white-collar workers. The flood of government money during the COVID-19 pandemic and a tight labor market created a demand for workers in almost every sector of the economy. At that time, the market pendulum swung deeply in favor of the employee, and lucky candidates had their pick of positions and options for benefits. As we emerged out of the pandemic, and the labor market remained tight, many employees decided they preferred WFH over working in the office. The tight labor market at the time put leverage on the side of the workers, and in many cases, their demand to continue WFH was met. With current market volatility, economic question marks, and changing expectations, the job market has swung back in favor of employers rather than their staff. Meanwhile, many business owners and CEOs have come to realize the downsides of a remote or even hybrid work environment. Many companies are also following in the footsteps of the Trump administration and Elon Musk's DOGE team to trim the unnecessary fat of their companies and opt for efficiency. At the same time, AI has emerged as a significant opportunity to streamline operations and improve efficiency. Let's examine how current dynamics are changing the workforce, re-examine the relationship between employees and employers, and discuss how small business owners can take advantage of this moment. The Realities of Remote Work The COVID-19 pandemic drowned the whole world in change to start this new decade. Work, health, education, entertainment, politics, and everyday life changed in unexpected ways. Five years on from those tumultuous days in March 2020, lingering attitudes remain. Many employees are unhappy with RTO (return to office) mandates from CEOs. A large majority of CEOs agree that creating a positive work culture with remote employees is essentially impossible. While there may be occasional times when remote work can be helpful (such as during sickness or family emergencies), many business leaders believe that it should not be the standard. Accountability, productivity, and creativity are much easier to foster in an in-person office environment. With the pendulum swinging back in favor of employers, employees will need to adjust their expectations.
Small business owners must not give in to fear or panic. Rather, we should step back and look at the larger geopolitical picture.
Whether you try a version of Microsoft Copilot or choose a different AI product, we hope small business owners can take advantage of AI's benefits.
Stubbornness is usually seen as admirable. Obstinance is viewed as annoying or bullheaded.
The first few years of this decade have been turbulent for the American job market. After years of growth since the pandemic, the signs may be pointing to a cooling period.
Remote work can bring up some unique issues that employers may not have had to deal with while the team was in office.
Dean Branson was one of The Alexander Groups' first clients when our firm started in 2007. Dean was a partner at his independent insurance agency, Midwest Agency. At the time, Dean didn't necessarily realize he needed a business coach, but he did know he needed help because he had a big problem. An Agency in Crisis Seventeen years ago, Dean focused on sales, while his business partner handled most of the administrative duties of the agency. However, his partner had a sudden and severe heart issue requiring surgery followed by a lengthy recovery period, leaving Dean with the responsibility of running the business side of the agency, too. Thrust into his new role as business manager, he was shocked to discover the business was in serious financial trouble. Accounting and tax issues were so serious that the future of the entire agency was in doubt. As Dean looks back, he is grateful that he connected with Cornell Meyer, founder of The Alexander Group. First, they applied some forensic accounting to examine whether any fraud occurred. After working with a CPA, Dean and Cornell concluded that Dean's partner had mismanaged the finances. Cornell worked with Dean over the next few years to unwind the partnership and get each party what they needed. Ultimately, they ended the partnership with little disruption to employees and customers. In 2011, the partnership officially concluded, and Dean was ready to take Midwest Agency to new heights. The Next Chapter, Improving Financials Next, Cornell and Dean focused on improving financials. It was one thing for Dean to unwind the business from financial troubles and another to build it bigger, better, and more robust. After a dire banking crisis, that year marked a challenging period for small businesses. Many banks were hesitant to give small businesses loans, especially small businesses in the professional services sector, like insurance. Nevertheless, with TAG and Cornell's help, Dean and his team worked to restructure debt, hire new people, improve sales and marketing, and streamline HR. Considering An Exit Throughout the next ten years, Dean began to think more deeply about what an exit plan could look like and how to shape the company's future. Initially, the plan was that his daughter Bailey would take over the company. While both felt good about that succession plan, they were still open to other opportunities. In 2021, Dean researched industry mergers and acquisitions and put word out that he was open to offers leading to a potential deal with a private equity (PE) firm out of Chicago. The process of vetting the offer helped Dean learn his priorities while exposing some improvements his business could make. He and Cornell uncovered an internal opportunity to renegotiate legacy contracts and ultimately realize an additional $100M in agency profit. Dean declined the offer from the PE firm when he concluded it was too low and the risk too high for his employees, who would have been left vulnerable to layoffs. However, the process of vetting the PE offer with Cornell made a stronger and better Midwest Agency.
Have you been having trouble sending out bulk emails and email blasts recently? Are you suddenly having deliverability issues with clients and vendors you've been emailing for years? If so, you're not alone — Google and Yahoo rolled out new DMARC requirements in February, creating headaches. We have heard that many of our small business owner clients and their IT departments are having such headaches. To investigate this issue, we have leaned on IT expert and long-time TAG peer board member Fred Moore of Moore Computing. Fred has walked us through changes to DMARC and offers advice on how small business owners can get their emails back into the inbox. While DMARC changes have thrown many into a temporary tailspin, the changes represent a move to safer and more secure email communication for all parties. Let's discuss what small business owners need to know about DMARC, how they can ensure their emails reach customers' inboxes, and how to keep their business digitally secure. What is DMARC? Cybersecurity measures are similar to cars: most of us drive one daily, but most are unable to lift the hood and understand exactly how it runs. Most of us rely on cybersecurity measures to keep our businesses safe online, but we may need help understanding the technical elements that keep us safe. That said, all small business owners should have a general background in cybersecurity, and DMARC is a great place to start. DMARC stands for "Domain-based Message Authentication, Reporting & Conformance." The idea behind DMARC is to limit the volume of scams and phishing on the internet. DMARC works with SPF and DKIM. SPF (Sender Policy Framework) is a list of services and servers that are authorized to send emails on behalf of your domain, and DKIM (DomainKeys Identified Mail) is a digital seal that verifies the content of your email hasn't been altered or tampered with. DKIM is also able to withstand email forwarding, whereas SPF can not. Senders and Recipients At its core, DMARC validates the authentication of the sender of an email message. When there are deliverability issues with a message, it usually falls back on the sender. Small business owners know the importance of getting marketing campaign emails and other communications into their customers/clients' inboxes; to accomplish this, it is crucial to follow all protocols to ensure you have the best chances to reach customers' inboxes at an optimal place (i.e., not the spam folder), and avoid spam complaints. How does your email make its way to recipients? It follows a basic flow: ● The email is composed and sent ● The sending mail server will add DKIM ● The email is sent to the recipient's server ● Validation tests begin, checking DKIM, SPF, and DMARC policies ● The email either passes, is quarantined, or is blocked/deleted ● If the email passes, it goes through the recipient's user filters and inbox rules
