When getting to know small-business owners, financial planners typically ask about their company’s value at that point in time. Unfortunately, many times, their first inclination is to share their latest bank statement or the amounts of various checking, savings and investment accounts owned by the company. While these are terrific indicators of cash-at-hand value, for many … [More]
It’s Lonely at the Top – and at the Start
According to Richard Branson, the billionaire CEO and founder of Virgin Group, “If you really want to grow as an entrepreneur, you’ve got to learn to delegate.” Starting a business — managing clients, networking, trying to balance long work hours with family life — can be a daunting task. But more and more people in Arizona are doing it — and many of them are doing it … [More]
Menacing Mistakes on Social Media
Social media marketing was once relatively new and mysterious and many just weren’t sure how to effectively use it. Today, it’s a much different story. The online world has changed dramatically and we see widespread use — and misuse — of social media by businesses all the time. Organizations of all sizes and in all industries struggle to meet the challenge of using social … [More]
Use Document Management to Conquer HR Challenges
Human resources managers are playing a growing role within business expansion; more than ever, they are expected to weigh in on company decisions with executive teams, engage in strategic planning, and foster employee wellness in a world of workers overwrought by personal problems. An HR document management tool can simplify these challenges. As if these responsibilities … [More]
Make Internal Comms Fun
Most employees dread the “Company Update.” Newsletters and messages often gather dust in staff members’ inbox — unopened and unloved. When this happens, chances are the business has a case of boring comms. Gone are the days when internal communications were an afterthought, comprising a quick email sent to all staff — job done. Nowadays, internal communications are … [More]
Tariffs: Up and Down the Arizona Craft Brewing Supply Chain
It may be stating the obvious to say that a tariff on any commodity will have a repercussion all along the supply chain it touches. Yes, that includes our favorite locally brewed beers. In Business Magazine spoke with Rob Fuller, executive director of the Arizona Craft Brewers Guild, to learn how President Trump’s recent tariffs impact these businesses and the businesses … [More]
Businesses’ ‘Magnificent Seven’ Investments
Every day, businesses lose money by not understanding or leveraging their investments. When one considers the financials of organizations, it is clear that a significant portion of those investments are not captured in financial statements. Why? Because these are the people-side or soft-side intangible investments the accounting industry has yet to document. This may be a … [More]
Five Cryptocurrency Tax Mistakes the IRS Takes Seriously
Since the release of Bitcoin in 2009, more than 4,000 alternative currencies have emerged in the decentralized banking market. For nearly 10 years, the IRS has sought to gain a foothold in what has since become a booming market with a rising number of participating asset holders. The recent Coinbase, Inc. case ruling makes it clear that the United States government is intent on … [More]
Mobile Billing: Growing Opportunity
There was a time, not so long ago, when the best and most effective way of sending a bill to a customer was to deliver it to them by mail. In a world where mobile devices are almost ubiquitous and in constant use, that should no longer the be case. Done effectively, mobile billing — whether app-based or email — is cheaper and more convenient than traditional billing … [More]
Use Disagreement to Build Stronger Teams
Because I facilitate team sessions for a living, I’ve seen a lot of team interactions. All kinds of drama, some shouting and tears, but also a lot of laughter, joy and bold action. Much about teamwork has been researched, dissected and discussed. Yet lately, situations have come forward that fall into an unexplored topic: how to get team members to disagree. What do you do … [More]
Chat Bots Are the New HR Managers
Chat bots will continue to transform virtually every business function, from marketing to sales to customer support. One of the other areas where we’ll see a major transformation is Human Resources. HR teams have a very challenging job with seemingly conflicting objectives: keeping employees focused and working hard while also keeping them happy and satisfied. HR teams are … [More]
The Tax Cuts and Jobs Act of 2017
The Tax Cuts and Jobs Act was passed in December. As with any law, there are the specified rules and regulations that are written into it as well as impact that extends from those rules and regulations. But Austin Graff, an accountant with Schwartzer Tax and Accounting, notes the key effects of the Tax Cuts and Jobs Act will depend in large part on how the business is … [More]
Money, the Final ‘Off Limits’ Topic
Religion and politics used to be the “off limits” topics around polite company, but now a visit to Facebook suggests Americans are more than comfortable with those subjects. Two subjects that have also remained off limits until recently are sex and money. The #MeToo movement that started in Hollywood has opened the door to conversations about sexual abuse as well as many … [More]
How Firms Manipulate Numbers for Market Gain
Businesses constantly hear that, to succeed when selecting partners, they need to do their homework. But what if the financials they review don’t really reflect reality? How does a firm make good decisions when it comes to their money? Or, maybe more importantly, how do businesses know the real strength of the firms they’re intending to partner with? GAAP vs. Non-GAAP … [More]
Getting It Right the First Time
Leaders and managers of an organization often face the challenge of change. Unfortunately, managers often make costly mistakes when they start making changes in their organizations. In fact, the record shows that 70 percent of change projects in organizations fail. We’ll look at one such failure as an instructive example to discuss why the attempted organizational change … [More]
Addressing the Absence of Community in Personal Finance
“We are what we repeatedly do. Excellence, then, is not an act, but a habit.” —Aristotle According to Charles Duhigg in his book The Power of Habit, a habit consists of three elements: a cue, a routine and a reward. The cue triggers our brains to determine which routine, or habit, to use, and the reward helps us decide if it’s worth remembering. If the reward is strong … [More]
Language Training Benefits Business
As more and more companies are expanding into a global economy, it has become evident that having a multilingual workforce is a critical success factor. Think about it: What if a company’s employees couldn’t communicate with each other or key external contacts such as customers, consultants or vendors? It would be highly likely that this could significantly damage earning … [More]
Putting the ‘Why’ in Personal Finance
Alignment is a simple idea that can add 5 percent to a business’s top line and will have implications not before considered. People seek a purpose-driven life. A successful organization can help provide that through aligning the organization’s purpose from the CEO to every employee. An important aspect of alignment involves helping employees recognize the impact they … [More]
