That's right. Toss it. Or at least, revamp how you use it. What you need is to focus on what's in front of you because work expands so as to fill the time we set aside to do it. The solution seems impossible at first: set shorter time periods, and boom! See your productivity soar. It's called the Parkinson's Laws. It's how Sweden doesn't sacrifice productivity when they instituted a shorter 6 hour work day.Read More
If you have a large number of veteran, active service or federal employees who are your customers, rely on a federal landmark, or perhaps you've filed for an early tax refund, you may be $@& out of luck. If your business relies on your ability to travel abroad, and your passport is pending, you're in the same S@#& house.
The real situation to cause small business owners to clinch if you're relying on a loan guaranteed by the Small Business Administration. If you count you're among those whose business relies on getting the cash proceeds from an SBA guaranteed loan and you've put your name on the line? Well, the current government shutdown, you and your business are in the swill. It’s first when the legislative and execimutive branch is inder control of one party since the change in budget process in the mid-1970s, impacts you and your business. A shutdown halts federal loans to small businesses. During a shutdown, the Small Business Adminisitration stops approving applications for small businesses to obtain loans and loan guarantees, typically $1 billion per month. During the 2013 16-day shutdown, the SBA was unable to process about 700 applications for $140 million in small business loans.
Who is with you?
No business, even solo ventures, operate in isolation.
There is quite a bit a hubbub about the new tax law. Many armchair quarterbacks, a flurry of emails (I've sent them), news and professional articles attempting to condense or translate into simpler terms the recent passage amending tax law.
The one thing owners need to know is that if there is a change in an existing corporate form, it needs to happen before the end of the first quarter. I am not in any way, a tax expert. While I was close to qualifying sitting for the CPA exam, just one semester shy of getting my undergraduate degree in accounting, I quite literally told my advisor, "I don't want people to know I can do this because just because you can, doesn't mean you should." What I do have is a strong referral network of ally tax attorneys and CPAs, that together, we can decide if it is indeed time to change the legal form of your business.
This means, there are many hats, that as business owners, we wear. We can do our own bookkeeping, janitorial service, google for answers on tax law, find that there is a legal answer or service with good SEO for what seems to be a quick answer to our current hot button. Whatever your widget or service is for your business, would you want me to build/make/do it? Well, if it's legal services or make a mean meatloaf (need to add a link to my recipe for that!), yes, you do. But if it's that thing that you were passionate about to start your business? No.
Share the load. It's important to know your strengths and share the load where your weaknesses lay, to free you up to do what makes your business soar into 2018.