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Top 3 Things To Think About Before You Quit That Crappy Job

I don’t know if it is the change of seasons or the time in my life, but I have been getting a lot of inquiries from people who are unsatisfied with their current job.

I am never one to argue that you should stay somewhere you are unhappy, BUT before you walk away from a regular paycheck you should take some time to assess where you currently stand.

You can start by asking these 3 questions:

1)   Do you have an employment contract? – If so, this may explain the terms of how you may permissibly leave and what you might be entitled to if your boss decides to let you go.  If you don’t have a contract, what you are entitled to is more fluid, but you can still leave with something if you negotiate properly.

2)   Does your employer want you out? – If the unhappiness works both ways, it is usually in the employee’s best interest to get laid off (as opposed to quitting).  Getting laid off can often entitle a person to unemployment benefits or severance.  There are often ways to negotiate an exit if both parties are unhappy.

3)   Can you navigate leaving on good (or at least neutral) terms?  A bad employment reference can be a problem in this economy and if you can stay on neutral terms with your employer you will be in a better position to be hired for your next, even better job.

Answering these questions is a great way to start thinking about how to exit an unsatisfying work environment and start to protect your own interests.  Once you determine where you stand you will be in a better place to assess your options, negotiate carefully and exit gracefully.

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Working from Home in New York City

Did anyone catch the article in the Real Estate Section of the New York Times this past Sunday about the plethora of New Yorkers who are running micro and small businesses out of their homes?  If not, definitely check it out.  Here is a link: http://www.nytimes.com/2012/08/26/realestate/running-a-home-business-in-new-york.html?emc=eta1

The article describes people around the city who are running all kinds of businesses out of their homes, from personal trainers to bakers to retailers of children’s clothes.  As the article suggests, not all of these businesses are done above board and on the books.  But there are a surprising number of ways to compromise with your neighbors. Working out of your home is a great way to save money as you start the business and can be convenient too. If you are already running a business out of your home, or thinking about starting one, I would love to hear about how it is going and what challenges and successes you are encountering.  Do you find a way to hide it from the neighbors or get them involved?  Either way it is important to recognize and acknowledge the challenges early on rather than wait for them to grow into something more serious. I really enjoyed the article and was heartened and inspired by the the incredible entrepreneurial spirit that so many New Yorkers have.

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Why you should learn about Fiscal Sponsorship Before Starting a Not-for-Profit

People who are inspired to start a not-for-profit are usually hoping to change the world, or at least an aspect of it, for the better. You see a problem and you think you have a solution for that problem. The next step most people think of, after doing some research and testing to determine if your solution helps to alleviate the problem, is to start an organization so you can formally begin to address the problem. In many cases, a not-for-profit is the organization type that makes the most sense.

While you can be recognized in New York State as a not-for-profit by filing some basic incorporation papers, this recognition does not allow you to accept tax deductible donations. To receive tax deductible donations the organization must obtain 501(c)3 status from the federal government. This process can often be lengthy and more difficult.

If your organization is hoping to move more quickly, you should consider finding a fiscal sponsor. A fiscal sponsor is usually an organization that already has 501(c)3 status. Once your organization hooks up with a fiscal sponsor, the new organization can borrow the sponsor’s tax exempt status. The fiscal sponsor typically charges for this arrangement (often taking between 6% and 10% off the top of any donation). For the arrangement to be legitimate, the sponsor must obtain complete control over the funds that come in to the new not-for-profit and the fiscal sponsor’s mission must be similar to the new organization’s mission. In addition to helping with funds, a fiscal sponsor can provide much needed resources, knowledge, and experience to a new not-for-profit. Starting a not-for-profit presents many unique challenges and knowing people who have succeeded before can only help your organization grow.

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Want Ad Abuses

Most micro and small businesses do not have the resources for a full-time in house counsel.  This means the business owners need to be that much more vigilant to ensure that the actions the business takes comply with state and federal laws.  If your small business is planning on posting a want advertisement, there are a few points you should be aware of in regards to possible discrimination and job security.

The advertisement should be worded so that it does not appear to discriminate against any protected class.  At first this seems like something that can be done obviously, and in most cases it can, but some wording that suggests discrimination is still prevalent in advertisements today.  Protected classes include favoring: men over women (or vice versa); blacks over whites; or one age group over another.  The age group is one that is often forgotten about by many small businesses that operate without the advise of a lawyer.  To comply with the discrimination laws, an advertisement should not contain phrases such as “age 25 to 35 preferred,” “recent college graduate,” or “recent college graduate” as these phrases may suggest the business is discriminating against older persons.

Want ads can also inadvertently suggest the job is more secure than it is.  Many employers post ads that may give employees more rights by using phrases such as “long-term growth,” “permanent,” “secure,” or “career path.”  Phrases like these may create an inference that the employer is offering a job that cannot be terminated except for notice or cause even when the employer has no intention of giving workers added job security.

The best advise is to avoid copying and pasting a similar business’ advertisement until you know what all of the phrases and wording within the ad imply.

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Benefit Corporations

Happy New Year!

The New York State Legislature got 2012 off to a great start when they passed a new law at the end of 2011. On December 12, Governor Cuomo signed legislation which creates a new class of corporations in New York. These new corporations, called “benefit corporations,” will benefit companies who purpose is to create a benefit not just for shareholders, but also for the community at large. The general public benefit purpose is defined as a material, positive impact on society and the environment, as measured by a third-party standard, through activities that promote a combination of specific public benefits. You can read the precise language of the legislation here. In order for a company to become a benefit corporation it must apply through the state and publish an annual public report that shows its performance in social and environmental areas. This legislation clears the way for many social entrepreneurs already in existence to receive benefits for caring about both the company’s bottom line and society as a whole.

In short, I think this new law is a great way to begin 2012 and I am excited to see what the new companies that form under this legislation accomplish!