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]
Why Do We Continue to Have Data Breaches?
Data breaches are all around us, as well as other cyber tragedies like WannaCry, Mirai and Petya. Household names like FedEx, Maersk, Deloitte, Equifax, Nuance and Sony have all been victims of recent cybersecurity breaches. The daily press is draining, but there is something that can be learned from all the facts that can help all those involved in security become more secure … [More]
Corporate Conservation Is More than Just a Box to Be Checked
Our nation’s and the world’s resources are increasingly constrained. Companies across the United States and here in Arizona can lessen their impact on the environment by reducing industrial byproducts as well as consumption of energy, water and raw materials. Businesses that incorporate eco-friendly practices remain competitive and see lower operating costs, ensuring long-term … [More]
Tools for a Changing Workforce
Why is change so difficult? First, people tend to naturally gravitate to the status quo. It’s familiar, there’s a comfort level associated with it, and so it feels “right.” Second, change can challenge people’s beliefs about their core strengths. Consider that many knowledge workers have spent years honing a particular skill or set of skills. When new technologies create … [More]
Crisis Communication Is Key for Businesses
The NFL’s regular season starts each September, but the preparation for battle is a year-round process: There’s free agency, the college draft, mini-camp, organized team activities, training camp and the preseason. Now, imagine the controversy and outrage from fans, sports radio and ESPN’s talking heads if teams walked into stadiums and stood on the sidelines of the first game … [More]
Successful Innovation — Technology vs People
The reason innovations fail is not because of technology. It’s never about the technology. Innovations fail because of people. The people who might employ a new technology may not be sold on it. Or they might be afraid of it. Or they might feel threatened by. Welcome to the dark side of innovation. However, the biggest threat to innovation a company is trying to develop will … [More]
Dos & Don’ts of Company Communication
In many cases, a company’s Intellectual Property (IP) assets, such as its patents, copyrights, trademarks and trade secrets, constitute the most valuable assets on the company balance sheet. To be sure, protecting the most commercially valuable of these IP assets is critical to establishing and maintaining a company’s marketplace advantage. Important as they are, these forms … [More]
