Category Archives: Management Issues

Workshop: Saving Taxes for Small Businesses

Do you want to know the 8 key strategies small businesses can use reduce their Federal and Washington taxes?

Do you want to gain a deeper knowledge of what taxes you and your business are required to pay?

If you answer either of these questions with a “yes”, you need to attend this workshop which is specifically designed for small businesses and their owners.

This workshop will:

  • Show you the types of Federal, state and local taxes to which a business in Washington may be required to pay.
  • Demonstrate to you, with real-life examples, how to minimize your business and personal taxes so you keep more money in your business and your pocket.

Tuesday, 26 June 2018
2:00 PM to 5:30 PM

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Do you think you might want to sell your business?

The Value Gap

by Kelly Deis of SoundPoint Consulting

business for saleHave you ever heard of it? Well, if you are thinking of selling your business in the next few years, it is a term that you should get familiar with.

The value gap is the difference in price between what the seller thinks his/her business should sell for and what a buyer is willing to pay for it. Bluntly, it is unrealistic expectations on the part of the seller.

Sadly, it is one of the bigger reasons why deals go awry in the lower-to-mid market tier. And, it can be avoided.

Causes of the Gap

There are a variety of reasons why a seller may think that their business is worth more than what others are willing to pay for it.

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Washington business registration renewal letter scam.

Misleading Letter vs. Official Letter

Businesses in Washington should be aware of a possibly fraudulent letter claiming to be an official bill for annual business registration fees.

One letter received by an Edmonds-based business directed the business to send $121.86 to a post office box in Olympia. The letter stated, “your state annual report will not be filed until payment is received.”

The misleading letter did not include the Office of Secretary of State logo, as an official letter from the Office of Secretary of State would – see the example pictured above.  Continue reading

Secrets to Managing a Store Successfully: Part I

male store owner

Retail is a complex and challenging business, posing problems ranging from inventory management to theft prevention. When coupled with falling prices inspired by major retailers, like Amazon, and the rising costs of labor, there are a variety of pitfalls facing modern retail businesses.

With so many ins and outs to consider, now more than ever, effective management plays a critical role in retail success.

In this two-part blog series, we reveal the core principles and techniques you should apply to manage a store successfully.

Streamline In-Store Operations

Whether you know it or not, many of the day-to-day tasks that dominate small retail operations are based on old-school styles and strategies, like counting inventory by hand, creating manual schedules, and entering sales transactions one by one into bookkeeping software. While these methods can be useful, they cost you time that could be invested elsewhere.  Continue reading

Good Leaders Are Curious

by Mary Marshall, CEO Coach

good leadersLately, I have noticed that the seeming inability to have reasoned debate within the political climate has spilled over into the workplace. There seems to be a “my way or the highway” mentality seeping into professional environments which is not productive. People are taking sides and staking claim to their view with no room for understanding or compromise. I’m reminded that whenever one side is “right,” it automatically makes the other side “wrong” and no one likes to be wrong.

I think the first step toward better understanding of one another’s points-of-view is to stop rushing to judgment. Just stepping back a beat and pretending there might be another approach or that – gasp – you might be wrong, are worthwhile steps. Being wrong is not the end of the world, it just means you have more to learn and isn’t that true of all of us? If we listened without judgment we might actually hear what the other side is saying.

If you are ready to practice, start with questions. “What” questions are usually the best and most effective for not conveying judgment. For example:

  • What makes you say that?
  • Tell me a little about how you came to that decision, belief, position, idea, etc.?
  • What other ways have you looked at?
  • Would you be open to a different point-of-view?

Read more on Mary Marshall’s website

10 Best Podcasts for Solopreneurs

podcast on mobile phoneOne of the most challenging and rewarding parts of being a solopreneur is the need to be constantly learning. Of course, every day has its own lessons to teach—trial and error is the heartbeat of solopreneurship, after all. Sometimes, though, we need to turn to proven mentors and leaders who can offer wisdom from experiences that reach beyond our own.

When we run into these situations, books seem like the obvious first choice. Indeed, there’s a book out there for any problem you may encounter, whether procrastination, apathy, branding, or crippling self-doubt. Besides, shouldn’t we be reading like fiends anyway? It’s common knowledge that the most successful business leaders all share a ravenous appetite for good books.

But what solopreneur has time to read a book every week? Between brainstorming and producing and networking and marketing, it can be hard enough to make time to eat breakfast. Granted, reading is still a great habit to develop, but it may not be your primary mode of on-the-go education.

Thankfully, the world invented podcasts.  Continue reading

Leadership: Control vs. Influence

by Mary Marshall, CEO Coach

As a leader, the distinction of “control vs. influence” is an important one to consider. Which is better? The answer is probably “it depends,” however, when working with employees or your team, influence can be so much more effective that it’s not even a contest.

As an entrepreneur, sometimes control is the only thing we think we have to keep all the balls in the air. Unfortunately, when you have “control” or perceived control of everything you become the bottleneck, and everyone relies on you to do or approve things. Additionally, you will get labeled as a micromanager and there are not many who like working for a micromanager. This becomes the Achilles’ heel for a lot of entrepreneurs.

Another common challenge based in control is growing and running so fast that the response to someone on your team asking you to slow down and explain is annoyance. A typical leadership pitfall is to think, “well, it’s just easier to do it myself.” This ends up being a self-fulfilling prophecy, (and not in a good way), as you will end up doing EVERYTHING yourself.  Continue reading