There are a lot of retirement plan options for small business owners. How do you determine which one is right for you? In this episode, we discuss all the options to help you find the right plan for your biz.
All the numbers in this post are valid for 2017. Each year, these numbers are updated by the IRS.
If you are just starting to save, an IRA might be an easy way to get started. An IRA will allow you to save up to $5,500 in 2017. If you are over the age of 50, you can make an additional catch-up contribution of $1,000.
There are two types of IRAs: a traditional IRA and a Roth IRA.
It's important to understand the difference between these two plans to ensure you are achieving your goals.
With a traditional plan, you put the money in pre-tax, which means you get a tax deduction now. However, when you take the money out at retirement, you must pay taxes based on your normal tax...
We can't believe it's been 100 episodes and almost two years since we started Small Biz Life. In this episode, Jeff and Kristin reflect on where they were on episode 1 and where they are today.
A lot has changed since we launched the show on September 15, 2015. Join us as we discuss what we've learned and how our lives have changed.
Money and Budgets affect every aspect of out a small business owners and our lives.
Kristin and I have a discussion with Melissa about controlling budgets, working towards our dreams, and her new book, "Building My Yellow Brick Road: Life Lessons from Pursuing a Dream".
Listen to a great interview and get out and Building My Yellow Brick Road: Life Lessons from Pursuing a Dream and learn more about her business Melissa the Coach and how to deal more about your personal finances.
We all experience failure at one time or another. Successful business owners learn from their failures and keep going. In this episode, we discuss how to learn from failure to increase your success next time.
Jeff and Kristin discuss the following items this week:
None of us want to deal with unhappy customers but it is inevitable as a small business owner. In this episode, we discuss how to save your sanity and your reputation next time you must deal with one.
Many of us get a negative email, message, or review and want to instantly respond while we are seething mad. Probably not the best way to respond. Before you reply:
If a customer is too demanding or gets out of line, you can fire customers. Make sure you have disengagement language in client contracts where applicable.
Small business owners typically struggle with pricing their products, especially digital products. In this episode, we discuss the factors that must be considered when setting your prices.
For more information about pricing your services, check out episode 90.
There are four components of pricing:
Vanity metrics are the numbers that push most online businesses. However, they are just that vanity. They can make us feel great when they look good or grow. However, if they are low then we feel horrible. It makes us what to stop.
However, we need to remember that good or bad they mean nothing on their own. Views, downloads, likes, views, and hearts all mean nothing on their own.
What we need to look at is revenue, customers, conversion, cost or ultimately profit.
However, when we start a business those numbers are bad. They are the numbers of "old" business. They are not as sleek and sexy as these more modern metrics that make us feel like we are at least helping others even if we are not yet making money.
We are looking for validation as well. We want profits. However, we do this to help people....
As small business owners, we often forget to take care of ourselves in the midst of our busy schedules. Join us for some wisdom from integrative health and wellness coach, Emily Olson.
During this discussion, we cover food, movement, and energy so you can more effectively run your business. We had a lot of fun doing this interview and Emily provided some great tips.
If you are interested in finding out more about Emily and working with her, check out her website and sign up for a free 30-minute Breakthrough call. You can also sign up for her free 7-Day Whole Food Challenge.
Smoothie and Protein Powders
Ancient Nutrition Bone Broth Protein (this is what Kristin uses)
Organifi protein powder and green juice (use code WLW15 to save 15%)
(Some of the links above are affiliate links)
Scheduling client meetings, interviews, and other appointments can be time-consuming. In this episode, we discuss appointment scheduling apps that can help you save time and get paid faster.
There are many reasons to use one of these apps. Here are some of the most important ones:
You can also use these systems to book other types of appointments like discovery calls and podcast interviews. Really any situation where you need to meet with someone else, you can use one of these systems.
There are a lot of apps out there. In this episode, we only discuss a few of them. When looking at different systems, you...
We spend a lot of time trying to simplify our businesses, but how often do you think about simplifying your life? In this episode, we discuss tips for simplifying your life.