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4 Helpful Tips To Increase Employee Productivity

4 Helpful Tips To Increase Employee Productivity

Every successful business owner understands that their company is only as strong as it’s weakest link. Improving and sustaining employee productivity is a must when it comes to running a successful operation. Here are a few helpful tips for increasing employee productivity and establishing healthy, working relationships with them.

Communicate, Communicate, Communicate.

Communication, as you know, is probably the most important aspect of being a boss and operating a business. Without proper communication skills, you and your employees will have a difficult time delegating tasks, performing day-to-day tasks, and ultimately, achieving business goals. As the leader, it is your job to find a clear and effective means of communication between you and your employees. Not only should you make sure employees understand what you ask of them whether through email, conference calls, or in-person meetings, they should also feel comfortable and safe communicating with you and others within the company about tasks, goals, ideas, questions, and concerns. Lack of communication leaves many people lost and confused. There is no room for that in a successful business.

Ensure Employees Understand Your Expectations

All businesses should have clear goals and expectations in mind. Your employees are there as assets to your company, therefore, everyone should understand what they are responsible for and what is expected of them on a day-to-day basis, and overall during their time at your company. A confused mind will do nothing, meaning it is your job to present a clear plan and opportunities for all employees to learn and grow. Everyone should know what they need to do at all times while striving to progress and do their job more efficiently, as well as learn additional skills to move on to higher positions.

Eliminate Negativity

You know what they say – misery loves company. The working atmosphere at your business is a very influential factor when it comes to employees and their performance. As a business owner, it is your job to ensure all employees feel comfortable and confident at work. Eliminate all negativity from both your side and your employees’. Observe the work environment and develop a way to remove or improve negativity. Lack of communication, lack of organization, lack of motivation, and pessimistic personalities are all negative traits that should be addressed and dealt with accordingly. Not everyday will be full of sunshine and happiness, however, this should not slow down productivity and drive.

Provide Constructive Criticism and Feedback

The number one thing that most employees appreciate in an employer is constructive criticism and feedback. Most people tend to work better when they understand what is expected of them, what they’re doing well, and what they could be doing better. Instead of simply reprimanding an employee for a mistake or incomplete task, meet with them to address what you expect to be done differently next time, what you feel was done well, and what you appreciated. Similarly, with a job well done, praise and rewards are a big productivity enhancer. Everyone loves to be rewarded for a job well done, and this doesn’t always have to go as far as a raise – a simple “good job” could brighten anyone’s day. Providing appropriate incentives and honest feedback is crucial when it comes to being a successful business owner and employer.

Summertime Sadness: How to Curb Slow Summer Business

Summertime Sadness: How to Curb Slow Summer Business

So you’ve gotten through the holiday rush and spring sale seasons only to have business come to a slow creep. Don’t panic; you’re not alone. Unless you run an ice cream shop or sell beach gear, your business is bound to experience slow sales during the summer months. The following are 3 tips on how to help build your business by utilizing this time the best way possible.

Social Media Revamp

The summer months are the perfect time to focus on your social media presence. Many make the mistake of thinking that posting regularly is the same as successfully socializing with their followers, however, having a lot of content doesn’t help unless it is of quality and you engage your followers. Run summer themed contests, share photos of your staff enjoying the nice weather, post vacation pics or plans. Have fun and be creative! 

Tax Prep

Despite it occurring the same time every year, tax season always seems to take people by surprise. You promise yourself that you will never wait until the last minute again only to fall into the same trap. Prepare for the inevitable by gathering your receipts and organizing your finances. *Attention restaurant owners, we wrote a helpful a few months back titled: Tax Filing Tips for Restaurant Owners. Check it out!

Reevaluate and Reflect

Now that you’ve reached the midway point reevaluate your business’ goals for the year. Celebrate the goals you’ve successfully implemented and take steps to improve on the rest. Make sure that your daily actions reflect the goals you’ve set.

Reach Out for Working Capital


Just because business is a little slow, doesn’t mean you have to stop growing. Now may be the perfect time to reach out for working capital from an alternative lender. Alternative financing products such as the popular Merchant Cash Advance is a great solution for your business to purchase necessary inventory, hire new employees, train existing employees on new systems and business techniques, implement marketing campaigns, and much more!

At Excel Capital Management we know what you need to for your business to grow. Grant Cardone also wrote a great piece for Entrepreneur titled, 5 Sales Tips to Recharge During the Lazy Days of Summer.” Check it out! 

Exploring Funding Options for LGBT Owned Businesses

Alternative Funding Options for LGBT Owned Businesses

June is Lesbian, Gay, Bisexual, and Transgender Pride month each year in honor of the 1969 Stonewall riots, a major turning point in the U.S. Gay Liberation Movement,  in Manhattan, NYC. Since those days, great strides have been made in terms of progressive thinking and equality. The LGBT community also makes up a large number of business owners in the United States.

As we know, most businesses will need to apply for some sort of working capital during their lifetime. Traditional loans are not always an option to many business owners due to the lengthy paperwork required and strict rules and guidelines, however, progress is being made when it comes to providing the LGBT community with business-funding options. For instance, the Small Business Administration (SBA) has set up a few different programs and outreach initiatives. Aside from the SBA and other traditional business loan options,

There are many alternative funding solutions that may be more suitable and easier for LGBT-owned businesses to obtain when it comes to growing their businesses. Here are a few options:

Merchant Cash Advance: Short-term financing transactions that are collected through a set percentage of your visa and mastercard sales  that are accepted at your place of business. Probably the most common term used in the industry. These do not have a set repayment schedule and are based on the volume of your businesses credit card processing sales. These are usually only guaranteed by the future sales of your business.

Minority Business Loans: There are many options avaialable in this category and its not just catered to the LGBT community. We have put togher a full list of Minority Business Loan options available. Many of these are grants and offer zero interest funding programs.

ACH Loan Products: These are a bit different than cash advances as they are considered loans and may have personal guarantees. They have a fixed repayment schedule that is paid either daily, weekly or monthly. These products are catered to industries that do not accept credit cards and need a fixed payment.

Accounts Receivables Financing: This is one of the oldest forms of funding in history. This is used mainly when a business is due some sort of capital for work complete and is billed on a net 30, 60 or 90. for example, ABC Trucking delivered goods for xyz logistics but only receives payment from xyz logistics in 60 days. ABC can then factor the money due from XYZ at discount to receive the capital due in 60 days today.

Invoice Factoring: The purchase of accounts receivable for immediate cash.

Equipment Financing: A type of loan or extension of credit to a business, with the purpose of helping the business acquire new equipment. Equipment Financing Extends only the capital needed to purchase a specific piece of equipment and is most commonly written as a lease.

Business Lines of Credit: A rotating loan that gives business owners access to a fixed amount of money, which they can use day-to-day according to their need for cash. Interest is only paid on the amount of the advance actually used.

Start-Up Funding/Loan: A type of loan that provides a new business/company with sufficient upfront capital to get off the ground.

Asset Based Loans: A business loan secured by collateral.

SBA LOANs 504 Loans: The US Small Business Administration 504 Loan or Certified Development Company program is designed to provide financing for the purchase of fixed assets, which usually means real estate, buildings and machinery, at below market rates.

Term Loans: A loan that is backed by a bank for an exact amount that has a specified repayment timetable and  interest rate that are adjusted accordingly. Terms mature between 1 and 10 years.

Excel Capital Management is a proud supporter of the LGBT community, and we are here to help with all of your business funding needs! For more information on Excel and the funding solutions we offer, APPLY NOW! For even faster service, contact one of our funding specialists TODAY at 877-880-8086.

Exclusive Interview with ERPS Group CEO/Chief Financial Consultant, Ella Rivkin

Exclusive Interview with ERPS Group CEO/Chief Financial Consultant, Ella Rivkin

New York City based, full-service accounting firm, ERPS goal is to help individuals, professionals, and businesses maintain financial stability as they grow their assets and plan for the future. ERPS provides assistance in estate aligning, retirement and trust planning, wealth management, and money-saving services for individuals. For businesses, the company assists with taxes, payroll, insurance, HR, benefits, and more. Today, we have the pleasure of interviewing ERPS Co-Founder, CFO, and CEO, Ella Rivkin to get her insight on tax preparation and filing tips for small business owners.

Excel Capital Management: Hello, Ella. Thank you for taking the time to be interviewed by Excel! To get started, tell us a little about yourself, how you got into the accounting industry, and your company, ERPS.

Ella Rivkin: I came to this country at a young age, chasing a dream just like many before me. I found myself very proficient in helping others and while growing up, and I knew that finance was a field that would strongly interest me. I began looking for work in the financial field while in school in order to gain experience. Eventually, I found myself working in an accounting office where I began to learn the necessary skills I bear today. After many years, I was finally presented the opportunity to open up my very own office, E.R.P.S. Inc. where I could finally utilize all my years of experience to help others chasing their business goals.

 

ECM: How can small business owners use your services at ERPS for their business finances?

E.R.: What makes E.R.P.S. stand out from others is that we develop strong business relationships with small business owners in order to establish successful networks and a beneficial support system for the owners. We are there to address any concerns the owners might have regarding their day-to-day operations and it is with this help that we are able to attract new clients that add to our growing community.

ECM: It is important for business owners to have a strong working relationship with their accountant. What are topics business owners should constantly discuss with their accountant, and how often should meetings be set up?

E.R.: After many years, I have advised many owners on how to better their business and succeed. It is important to address key topics that many fail to see. Some of these topics include careful handling of all business expenses so as to keep everything organized and manageable. Another important topic is keeping track of all employees and payroll information so as to not have any confusion within the organization. A well-organized account of everything going in and out of the company, whether it be assets, credits, etc. is key to maintaining the necessary structure of any business which hopes to prosper.

ECM: As you know, Excel Capital Management provides alternative financing solutions to small to mid-sized businesses. For a business owner that is in the market for a business loan, what advice would you give them before applying?

E.R.: Prior to applying for a loan of any kind, it is important to insure that everything in your company is up to date, financially, and that the business is ready to accept the responsibilities of said loan. I have seen many companies accept loans as a means of growing their business, whether big or small. A loan provides much needed support for a business, especially one that is looking to expand. By accepting a loan, it is important to monitor and stay on top of all its financial aspects, primarily due to the fact that if one loan is handled correctly, it allows for that business to receive additional, larger loans in the future which in turn helps the business even more.

ECM: Many businesses Excel funds continue to apply for additional working capital over the business’ lifetime. Based on your expertise, what determines when business owners should reach out for working capital via an alternative lender such as Excel Capital Management?

E.R.: A company is only as successful if it keeps constantly looking for bigger and better things to make it stand out. Unfortunately, not every business owner is capable of financially providing the necessary funding for these ventures. There comes a point where the owner(s) exhausts every resource and their disposal and has no other place to turn to. In this situation, it is necessary to reevaluate the company and its potential success. If the company is in fact making progress towards its goals, then it is understandable to reach out to lenders and request additional funding. Reaching out to lenders like Excel makes it possible to continue expanding one’s business by attaining the much needed capital that allows for new equipment, new ideas, etc. necessary for corporate growth. There is a common saying, “You have to spend money to make money”—this couldn’t be more true!

ECM: Lastly, what is the most important accounting advice you would give to small business owners?

E.R.: It must be said that for any business to succeed in today’s day and age, it is necessary to have desire and determination as the driving factors. As an accountant, I must say that proper discipline and motivation is required when managing any business. There are always going to be obstacles along the way that make it seem impossible to overcome, but with proper leadership and organization, no obstacle will be too great. It is also important to maintain proper communication between the business owner and the accountant, because one cannot do their job without the other. Keeping your accountant up to date on all of your business ventures and operations is key, therefore the accountant must be provided with any and all necessary information about the business at all times.

For more on ERPS Group, visit: erpsgroup.com and be sure to “like” their official Facebook page: facebook.com/erpsinc.

Excel Capital Management’s Chad Otar Brings You Tips On Applying For Additional Working Capital

Excel Capital Management’s Chad Otar Brings You Tips On Applying For Additional Working Capital

“Congratulations, your business has been funded!” These are the words all business owners love to hear. You know have the funds you need to open a new location, hire additional staff, purchase more inventory, or do virtually anything else to grow your business, but what happens when the funds are used up, your business is back on track, and you’re thinking you need more money?  At Excel Capital Management, we understand that each business owner and their respective companies are unique, and we take this very seriously. Our sales representatives and client retention team understands the importance of maintaining a long-term, friendly relationship. It’s our job to be there when your business initially applies for funding, and thereafter when  additional working capital may be needed. We pride ourselves on successfully funding businesses of all industry types – sometimes more than once, so here is some advice on applying for additional working capital for your business from our Co-Owner/Managing Partner, Chad Otar.

When Are Business Owners Typically Eligible For Additional Working Capital with Excel?

Chad Otar: At Excel, we like to notify our existing clients that they are eligible for additional funds  after they have paid off 50% of their current funding. By this time, the business owner should be able to obtain additional capital needed and manage it well.

 

When Is It The Right Time To Take Advantage of Additional Funds?

CO: Just because your business is eligible to receive additional capital after a prior funding doesn’t always mean it’s the best time. Business owners should have a plan for what they’d like to do with the new funds before applying. The capital should be used to a business owner’s advantage, and at the same time, the business owner should make sure their accounts are in good standing to be able to properly manage the money.

 

How Should Your Business Make Use of the Additional Capital Obtained?

CO: When working capital is used correctly, you should immediately see a turnaround! The original funds could be used to purchase inventory, hire new staff, train existing employees, open a new location, and more. This, in turn, should cause an increase in revenue, and there is no better time to use additional funds to increase the growth and allow even more cash flow. It is in good practice to use additional capital for anything necessary for the business – especially when business is booming! Maybe the second location you opened could use more advertising or staff. Maybe your employees need to be trained on how to use the new equipment you purchased. Additional working capital you obtain after your initial funding should be used to improve your business even further!

 

If Your Business Is Not Approved For Additional Funding, What Options Do You Have?

CO: Just because your business isn’t approved for additional funds at a specific point in time, our representatives like to maintain ongoing relationships with our clientele. We will work with you to understand why your business has been declined for additional funds, what steps to take to rectify the situation, and we will stay engaged to let you know when you are eligible.

 

Based on the above, do you think now is the right time to obtain more capital for your business? Excel Capital Management is here to help. Call one of our funding specialists today at 877-800-8086 to learn about what additional funds your business is eligible for!