Episode 127 – How the Federal Government is incentivizing you to have employees

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You might be shocked to learn this. The government loves when you hire employees. It has many benefits for them and the people you work with. They love it so much, in the tax law that past called Tax Cuts and Jobs Act of 2017, they created a special tax deduction to help make sure that your business pays out wages once it becomes profitable.

Join Kristin and Jeff as they look at this new tax deduction, That can reduce your small biz profits by 20%.  However, beware if you do not have wages and you make 1 dollar too much... It can cost you the entire deduction.

  • How the government is incentivizing you because of tax reform of 2017
  • Deduction tipping point based on all income sources in the household
    • $157,500 if you are not married
    • $315,000 if you are married
  • If your business profit is $100,000 you may get a $20,000 tax deduction
    • Does not...
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Episode 126 – 5 things being new parents has taught us about small business

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Kristin and I could have panicked. Hearing about how much disruption a newborn can cause in our lives. Even with our fear, we chose to focus on the other advice given to us from most of the parents who talked to us. A newborn will be difficult. However, it will be the biggest blessing we can have and take the opportunity to learn how to have a better life and small business

Kristin and I understand that we will spend the rest of our lives raising our new son. Let us share with you what we have learned to improve our company so far after having a new child.

  1. Have procedures and checklists for EVERYTHING
    1. Daily focus planner
  2. Purchase tools that make your life easier and automate things
    1. Baby Brezza Formula Pro
    2. On Becoming Baby Wise: Giving Your Infant the Gift of Nighttime Sleep
  3. Create a schedule and task lists
    1. Trello
    2. Butler
  4. Do the most important tasks first...
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Episode 125 – Is Social Media hurting your business?

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We have been seeing all the headlines about how social media and how it hurts people.  So Kristin and I pulled together the list of how we thought social media was hurting our small business and did some research. 

So check out the latest episode and learn what shocked us... how our business is really being hurt by social media and how to fix the problem.

What we typically think:

  1. Spending too much time
  2. Bad reviews
  3. My competition is watching what I am doing

What’s really happening:

  1. Comparison
  2. Jealousy
  3. Social Isolation
  4. Effect on sleep

Solutions:

  1. Have planned social media time and objectives
  2. Unfollow pages, groups, or people
  3. Use group shortcuts and the pages app to manage your activity
  4. Turn off notifications
  5. Close windows when not planned time
  6. Only use SM on your computer
  7. Pick one or two networks and automate the rest

References 

Why...

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Episode 124 – Your Bookkeeping Made Easier Questions Answered

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It happens every year! Kristin and I start hearing or getting tagged in questions about people who are stuck finishing off their accounting books every year. We decided to ask our Small Biz Life Community for their questions to answer here!

How to get the most out of your small business bookkeeping without wasting time

I get it. I hate bookkeeping and I am cheap. I do not like "paying" monthly fees. I am a cheapskate. However, This is one of those areas I have evolved.  Kristin has managed to keep the books for all of our companies and families in about an hour a month.  

Listen to this important episode that will free up your time, and all you to MAKE MORE MONEY NOW!

  • Why would I use this instead of excel, pen and paper, or my… mind
  • Melissa Thomas, I've been using a notebook to keep my books for five years.
  • 2018 is my...
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Episode 122 - 2018 small biz tax questions asked and answered

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As a business owner, no one knows your business better than you do. That's why you need to know the basics of income taxes. 

I know. I know.

It's annoying.

It's complicated. 

It's worse than a root canal.

So is paying too much in taxes because you don't know the rules. Yeah, that hurts, too. 

Spend some time with Jeff and Kristin as we answer questions from small business owners. Some of the questions include:

  • How do I do my own taxes without standing up and whacking my head against the wall repeatedly until the pain stops?
  • LLC, sole proprietorship, partnership, S-Corporation, or C-Corporation?
  • Can I deduct my car?
  • Can I extend if I owe money?
  • Will I get audited if I claim my home office?
  • Can I claim a deduction for business-related entertainment?
  • I'm planning on taking a trip to trade show. Can I bring my family along for a vacation and still deduct my...
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Episode 121 – No more excuses

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Are you stuck in a funk growing your small biz?  Have you been putting off improving your health? Have your relationships suffered? Have you not been sleeping? It is the time that we all start living the small biz life and stop being lived by it. #NoExcuses 

You are not alone

Kristin and I have spent much of 2017 with you. We have had many excuses. Some real, but most where just extensions of our fear. Leading us to waste a lot of time, that is so precious. Join us in this podcast episode as we look at some of our biggest excuses, and some of the excuses we hear all the time. And how we can start working past them to live a year with no more excuses.

Any of these problems sound familiar?

  • What held us back?
    • Small goals
    • Using the pregnancy as an excuse early in the pregnancy
    • Lack of focus
    • Fear of selling
    • Too much to do, not enough planning
  • What is...
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Episode 120 – How to create plans that work for you and your business

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Welcome to the Small Biz Planning club

Kristin and Jeff extend this hand of invitation for you to start planning for success in your business. However, before you join Planning Club, you need to accept the 4 rules of Planning Club.

  • Rule 1 - Do not talk about planning club
  • Rule 2 - Understand the problems with goals and planning
  • Rule 3 - Plan smarter, not smart
  • Rule 4 - Create good foundations for your plans

Rule 1 - Do not talk about planning club

Okay, If you tell people to listen to the episode that is alright.  However, so often we plan and talk about the plan but fail to follow through with execution. So plan well, verify your actions daily and then EXECUTE

Rule 2 - Understand the problems with goals and planning

  • Finding good goals is tough
    • Measuring is a lot of work
  • We struggle to get from Goal to task
    • No idea how to prioritize
  • Life Happens
    • ...
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Episode 119 - How to improve your customer communication

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The key to sales is effectively communicating your message. In this episode, Kristin and Jeff discuss tips for improving your communication online and in-person.

Tips for improving general communication

  • When speaking to a crowd (social media, email, sales pages, speaking engagements, video, etc.), always speak to your avatar. 
  • Target your messaging for the platform. Your message will be slightly different depending on the medium you are using, whether it is Facebook, email, in-person, or a sales page. Know the best practices for each platform.
  • Speak their language, not yours. Do research on the terms your customers use when discussing your products and services. Avoid industry jargon. 
  • Use analogies to convey complex concepts.
  • Always use low noise environments and avoid interruptions on live video, webinars, and phone calls.
  • Always phrase questions...
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Episode 118 - The basics of Online Summits

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Kristin and I are always looking for ways to grow our online business. So we have started researching creating an online conference or summit.  They offer much of the benefits of a real-life conference with networking and sales. However, the can be put together at a fraction of the cost.

  • What are they?
    • More advanced than other forms of outreach content. However,
    • Online only conferences
    • Typically, free content for a limited time
    • Typically sells with lifetimes sales product “All-Access Pass”
  • What are they good for?
    • Building your authority
    • Building your email list
    • Creating a product to sell
      • Possibly evergreen
  • And What do I need to do them?
    • Ability to record the video interviews
      • Hangouts / Skype
    • Platform to deliver the content for free
      • Could be embedded YouTube Videos
    • Platform to upsell the content
      • Redirect all old...
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Episode 117 – Creating a destination location

Listen to the show on iTunes, Stitcher, YouTube, Google Play Music, iHeart Radio, or with the player above.


Join Kristin and I as we go deeper into the future trend of small biz retail. The destination location.

Why are destination locations become so appealing?

  • Are you a destination or location?
    • Destinations rely on people to make a conscious decision to stop at your business
    • Locations rely on high traffic areas to bring in customers
  • Creates a larger potential audience
  • Become a place people must see if near your area
  • Not just for craft stores
    • Jordan’s Furniture
      • IMAX theaters, rope courses, Christmas village, Ice skating rink
    • Ikea
      • Kids play area, restaurant, interesting products
    • Webs
      • Classes, one of the largest yarn stores in the U.S., knowledgeable staff
    • King Arthur Flour
      • Classes, knowledgeable staff, large selection of baking supplies that are hard to find else ware (except on their website)
    • Loveless Café
      • Good food, shopping, national...
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