Category Archives: Profits

Using Tax Logic to Manage the Value of your Business

In the real world of business management ownership you can only create income in 2 basic ways. These two income methods are taxed differently by good ‘ol Uncle Sam. The first method income is “earned” income. Let’s say I’m a graphic artist and you hire me to create a logo. I design the logo and […]

Also posted in taxes | Leave a comment

Are you a business owner that wants to grow? Part 1

This is Part 1 of what will be several posts about growing your business. I’ll cover some free ways to grow and I’ll also talk about growth opportunities that aren’t free. I meet many business owners who want to grow but very few know how to grow.  Let’s look some common ways to grow your […]

Also posted in management, operating a business, Productivity, starting a small business | Leave a comment

When is 95% less than 20%? When the 95% is wrong!

In my day to day activities I meet with 250 – 350 small business owners a year who are considering selling a business for one reason or another. In discussing their business the topic of customer service is brought up by me. The reason it is discussed is because significant value is added to a […]

Also posted in Business plan, operating a business, small business | Leave a comment

New 1099 Rules effect on Small Business

    This post provided by Paul Ikard, CPA March 17, 2012  – Some of the below rules may have been modified, check with your CPA before taking any action. Businesses and not-for-profit organizations are accustomed to IRS rules that require them to report certain payments on annual Form 1099 information returns. However, the recently enacted healthcare law […]

Also posted in Business plan, legal issues, management, Productivity, taxes | Leave a comment

The Bush tax cuts debate and the real small business story

It’s hard to avoid the politicians ranting either for or against the extension of the Bush tax cuts. Like many issues in life, for every complex problem there is a simple solution that is absolutely wrong. Those opposed to the extension often try to separate the issue of “who” gets the extension. The theory is […]

Also posted in Business plan, financing, operating a business, small business | 2 Comments

Is the small business owner world upside down?

This post falls under the category of “what the heck is going on”! The following is from a small business consultant who talks to small business owners several times a week and has done so for about 10 years. Their name is being with held for obvious reasons. They say, many of the following are […]

Also posted in Business plan, management, operating a business, small business, small business marketing, starting a small business | Leave a comment

Don’t Let the Doom and Gloom in the Media Distract You!

If you are a small business owner the “psychology” of the day-to-day these days can be discouraging. Don’t let the doom & gloom specialists get you down. Here are a few things to keep in mind that might help you get your mojo back: If your business is down don’t be lulled into thinking that […]

Also posted in Business plan, management, operating a business, small business, small business marketing | Leave a comment

Document My Systems?…..Which Systems?

Recently I wrote a post about how businesses should document their systems to improve their profits and value. I received some feedback that went something like this.. “Which systems, there are a million systems in my business!” Well, you’re correct. Even a small business has many different systems. How you answer the phone, how to […]

Also posted in Business plan, management, operating a business, Productivity, Small business administration, starting a small business | Leave a comment

Why are sytems for your small business so valuable?

Documented business system are far more important than most small business owners believe. I believe that the reason too many small businesses stay small is because they don’t have systems. When I meet with small business owners and this topic comes up the conversation inevitably sounds like this: Me, “Do you have your systems documented […]

Also posted in Business plan, management, operating a business | Leave a comment

Increase your small business profits without spending a dime……

I see and analyze hundreds of businesses every year. What I have found is small business owners (generally businesses with less than $3,000,000 in sales) have a consistent weakness that costs them dearly. The Problem……. A terrible lack of effort and intelligence in determining the correct pricing of their product or services. In my practice […]

Also posted in Business plan, management, operating a business, selling a business | Leave a comment