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Expensing Meals & Entertainment: Updated Deduction Rules
Expensing Meals & Entertainment—What You Need To Know As my team and I prepare for the year-end, we are going through the typical problem areas of the Profit and Loss. Since 2018 when President Trump signed into law many changes in the tax code, meals have been...
Understanding 1099 Filing Requirements: Tips for Year-End Prep
Business owners can get stressed out in January with all the year-end work that needs to be completed – and oh the deadlines. Processing 1099’s is one of those year-end tasks that can be confusing and frustrating. The key is to start the process early. We like to...
The Dream Manager: Building a Team Driven by Personal and Professional Dreams
I’m feeling a overwhelming message from the Universe this year. I have now read 3 books that deal with dreams and the next book I picked up … yep you guessed it talks about dreams. I am learning that while I was a wife, mom, student and business owner during the last...
The Dream Manager & Employee Retention: Supporting Team Aspirations
I thought I would take a break from Mike Michalowicz books and read one that he recommended in his book Fix This Next. I choose The Dream Manager by Matthew Kelly. It’s a short but powerful book on building a strong organization that people will want to work for. It’s...
Annual Business Goal Setting: Clockwork Program Insights – Part 2
As most of you know, September is a planning month for me. In my last blog post and newsletter I shared my process for planning the financial aspects of my business. This time I’d like to go into the other types of goals I have for my business. Again, I hope this...
Annual Business Goal Setting: Strategies & Reflections – Part 1
It’s that time of year when I start to reflect on what we’ve accomplished this year and how far we are from our goals. I created and set most of our 2020 goals up last fall long before the Covid pandemic. Like most of you, I have had to adjust my goals to fit...
Fix This Next: Building a Legacy with the Fifth Level Principles
Community Continuance – Do you clients defend, support, and help your business? Let’s face it, we have a highly charged society at the moment. Emotions and tensions are high. Let say you have some false things written about your company and it hits Facebook and goes...
Fix This Next: Fourth Level, Making an Impact with Stewardship and Mission
A few nuggets from the chapter and then we will dive into the 5 core needs of level four – Impact. Mike says, “The impact you want to make is important, but you can’t pull it off until you have all of the base levels humming.” This is true and I do see clients jumping...
Building a Firm Foundation for Impact and Legacy with Fix This Next
I have to say I absolutely loved chapter 6 of Mike Michalowicz’s book – Fix This Next. He called it a “musical bridge.” He makes a point to say that once we have shored up the first 3 levels: Sales, Profit and Order; we are going to transition to the last 2 levels of...
Fix This Next: Third Level, Building Order and Redundancy for a Self-Sustaining Business
I’ll begin with two quotes from the book that really resonated with me. “You are not a business owner if the business owns you.” And “Stop doing for your business, and start designing your business to run without you, permanently.” That is the goal – isn’t it. To have...
Fix This Next: Second Level, Strengthening Profit with Debt Control and Cash Reserves
I have heard this more than once in my life – I have reinvested my profits back into the business. Mike said it another way that I have been pondering. A reinvestment of “profits” is an expense. Period. I’ve decided that even though we may show a profit on the Profit...
Fix This Next: First Level, Mastering Sales for Business Success
The bottom level of the BHN (Business Hierarchy of needs) is Sales. Businesses can not exist without sales. I know that start-ups can exist on Venture Capitalist; however, eventually even that will dry up if we don’t start to generate sales. Level 1 – Sales – Core...
Fix This Next: Mastering the Business Priority Pyramid
Many of you have heard Maslow’s Hierarchy of Needs. It is a triangle with 5 levels to it: Physiological, Safety, Belongingness, Esteem and finally Self Actualization. I used to think that you had to achieve one at a time – climbing the different levels. I now know...
Escape Business Purgatory with Stress-Free Bookkeeping
When you started your business, you knew there would be some administrative tasks that would need to get done. I’m sure you think of tax time as some sort of purgatory for business owners. You got a reprieve this year with the date being pushed out; however, that due...
Maximize QuickBooks Online with Essential Add-Ons
QuickBooks Online may work for you just fine as is. After all, it was designed to meet the needs of the millions of small businesses that want to manage and track their income and expenses, create records and transactions, and run reports to gauge their financial...