Preface: Listen to concise Phil talk plainly about the four most important financial metrics —  1.0 Liquidity, 2.0 Earnings Growth, 3.0 Return on Assets 4.0 Cash Flow Statements. Are the cash flows real? Are cash levels conservative? Are earnings trends climbing? Discover the foundational principles that report integral financial metrics.  

Preface: Can we predict in advance the direction our life will head? How will you measure your life? God is not an accountant, nor does he employ accountants. Clayton says God hires people who help others become better people. Make a commitment to follow the rules; that is the most important decision entrepreneurs can make. Everyone plans to live a life that’s honest and has integrity. What are your commitments? Because following your commitments 100% of the time, according to  Clayton, is key to a successful interview with God. 

Preface: Do you know why there has never been a chocolate-flavored chewing gum? Maybe it could be you? Bubble gum didn’t appear until 1928, when 23-year-old Walter Diemer, an accountant with the New Jersey-based Fleer Company (who had no background in chemistry but a passion for tinkering) had a eureka moment. Read it here: They Could Have Been Billionaires: Walter Diemer

Trust-Based Selling – An Abbreviated Book Report for At-Work Entrepreneurs Preface: Trust-based selling is far beyond common processes and laws of selling; it is in a fundamental fashion, the human spirit of selling. Trust-based selling is a people process; it’s about living and working [selling] with a set of core beliefs, values, and principles, gilding trusted behavior. Trust-Based Selling – Segment II Why should buyers easily trust sellers? Sellers objectives have one purpose often — to get a sale. Therefore, sellers most often do not have the buyers interest at heart. Trust-based selling is built on a foundation of true customer focus, collaboration, transparency, and a far sighted perspective. You cannot use trust as selling tactic, solely. Your customers are smart; they can see rather quickly whether sellers are wearing self-centered shades in the conversation, and they know intuitively, even if they can’t point to what’s wrong – that a seller usually cannot be trusted. Trust is no easy matter because it based on beliefs and principles, not on techniques or processes. Trusted based selling is behavioral selling. Trust-based selling is matter of living your beliefs, values, and principles to behave in trustworthy manner. This requires consistent principled behavior, not a fabricated façade. [The behavioral selling principle rests well with certain groups of sellers, e.g. Amish business owners intuitively approach selling while living their personal beliefs, values and gilding principles – each day {authors report note}.] Collaborative approaches to selling are necessary to be successful with trusted based selling. Trusted seller need to pick-up the phone and ask what the buyer wants, and how you can help the buyer. Some sellers fear collaboration, they have too much ego, and can’t share the pie; or they fear lack of knowledge; fear collaboration will help competitors, or result in lower prices. These…

Using Customer Focus and Collaboration to Build Long-term Relationships, Charles H. Green, Copyright 2006 Preface: At last, a sales book based on how adult, intelligent people actually buy. An Important contribution that challenges the effectiveness of much of the current sales practice, and shows how to do it better. David Maister, Retired Harvard Business School Professor Trust-Based Selling – An Abbreviated Book Report for At-Work Entrepreneurs – Segment I Book Report Credit: Donald J. Sauder, CPA In order for successful customer relationships to work, sellers have to care – honestly and deeply – about customers. Successful, flourishing salespersons know the trick is easy – you have to care – honestly and deeply. The solution, simple to state, is hard to live. Three pillar questions in great sales are 1. What do buyers really want? 2. Why don’t they say so? 3. Why, if selling expertise isn’t the best approach, is it the dominant one? Customers and clients make decisions based upon trust. The best businesses gain sales from the trust they develop with customers. What buyers really want is to buy from someone they trust. Trust is developed with understanding the customer needs, asking the right questions, and demonstrating expertise – rather than talking about it. An appreciation for what is best for the client or customer, and putting their needs first, always leads to more benefit to you and your business than putting your needs or your business needs first, e.g. Is your solution the ultimate for the need of the customer, or simply your month’s sales quota? Studies show that to achieve duplicative sales successes you do not even have to deliver on all the wants and aspirations; after all, customers don’t expect you to perform miracles. Yet, you must understand and appreciate them for who they are. You…

Preface: Optimal levels of equity in business are the result of fiscal disciplines. High debt to equity ratio enterprises are subject the to credit risks outlined in the following blog. Looking Into 2018 — Credit Slopes Historic business data provides a clear cyclical history. That data history yet differs in the timeframes of the effective expansion and contractions in the economic forces of supply and demand, fueled from credit driven consumption and credit driven business investments. Looking at the fundamental driver of business strategy, e.g. increased revenue, increased profitability, standard revenue increases are the result of greater assets investment, and greater asset output. While output can increase, e.g. manufacturers produce more skis, the demand for skis must be sufficient to sustain the increase in the levels of production. During business expansion cycles, demand outpaces supply, encouraging the growth of production, i.e. more skis sold, and more income. The business cycle of skis is a small sub-segment of the greater business environment, but easily comprehensible. For ski manufacturers to succeed, several market catalysts must be in place, 1. Snow 2. Interest in recreational winter activities, 3. Consumer capacity to enjoy. If alpine ski businesses powered the stock market, the higher the lift, the more exciting the black run. David Stockman, former Reagan White House Budget Director and former Congressman, thinks the current business cycle will experience a fiscal calamity of Biblical proportions, a financial reset in future years. To quote Stockman, “The Central Banks realize they cannot keep printing money at these crazy rates, and by that I mean bond buying. Now they are going to have to normalize and shrink their balance sheet….by the end of 2018 it will $600 billion a year”. In understandable terms the artificial snow creation on at the Federal Reserve’s economic resort cannot last all year. They…

Preface: The Tax Cuts and Jobs Act passage in Congress this week results in a triumphant step for President Trump towards Making American Great Again. Entrepreneur’s should appreciate the tax bill as pro-business. President Trump is Making American Great Again The US Congress passing the Tax Cuts and Jobs Act this week, and President Trump’s subsequent signature is the economic equivalent of Trump’s Washington singing to America taxpayers “We wish you a Merry Christmas and a Happy New Year, good tidings we bring to your and kin, good tidings for Christmas, and a Happy New Year.” Legendary financial and geopolitical analyst Martin Armstrong, says the Tax Cuts and Job Act passage is very, very positive for the US economy. The pro-business bill, will grow jobs, and help small businesses succeed. “Canadian companies are already saying they will have to relocate to US if this keeps up” to quote Armstrong. This bill could make the US look like the place to be for business. “It’s monumental” Armstrong adds. “We could hire ten more people (just with this bill passage.)” Armstrong continues that he was called to London and Brussels this week as the result of Trumps tax bill being game changing and pro-business with global implication. So what’s in the new tax bill? The historic bill legislated lower tax rates for both individuals and business, enhanced child tax credit and repealing of the individual shared responsibility payment in 2018; the foreign deferred overseas held earnings repatriation rates and territorial tax system internationally are the major drivers to Armstrong’s opinions. Highlights: The standard deduction increased 100% from $12,000 to $24,000 for married individuals, and from $6,000 to $12,000 for individuals. Tax bill incentivizes families with a $2,000 credit per qualifying child. Education provision provide 529 plan contributions for elementary and secondary schools. Corporate tax rates are set…

Preface: Innovation – is the need real? Solutions are only necessary if there is a need for the solution. Is interpreting the need and the subsequent creation of world class solutions ultimately unpredictable? Listen to a discussion on the value of a tournaments approach among your team to develop new business successes. Andres Sadler, Senior Vice President, Wolters Kluwer Corporate Strategy and Dr. Karl Ulrich, Vice-Dean and Professor at the Wharton School of Business, University of Pennsylvania, discuss the power of Innovation Tournaments  

Preface: “There is an increasing awareness that the purpose of a company has to be beyond shareholder value, and that this is not something that will cost your business but something that will enhance your business,” ……Much of the discussion about purpose suggests that companies perform better if they have a clear sense of purpose. Purpose-driven companies make more money, have more engaged employees and more loyal customers, and are even better at innovation and transformational change. It seems to be easier to win the game when you care about the game. a. Do you have a business purpose? b. Do you care about your business purpose? Read a study of purposeful business. Click here: The Business Case For Purpose

Preface: Tax practitioners are often requested to provide advice for entrepreneurs starting a new business. Although non-tax angles are an important degree and should not to be discounted even slightly, often entrepreneurs are more concerned with the central tax considerations of a new venture. This blog is written to help entrepreneurs navigate business entity decisions from a tax perspective. Taxing Decisions – Business Entity Taxation   The three main business entities often considered with entrepreneurial ventures are 1.) partnerships 2.) corporations 3.) limited liability company (LLC). Partnerships A partnership is pass-through entity with all business revenues and expenses attributable to profit motivated activities transferring from the business tax filing, e.g. Federal Form 1065, to the owners via a Form K-1. The K-1 encompasses the tax attributes applicable to the holder(s) of the partnership interests, i.e. an individual or say another partnership. For example, let’s say a partnership has $5,000 of net income for the year with three owners at 33.3% interests would pass through $1,665 of income on each K-1 to the individuals to report as revenue on their individual 1040 tax filing. The revenue would be taxed at the applicable tax filing status and rate, differing for each owner’s specific taxable position. Typically, personal tax rates are lower for married filing jointly tax payers, under current tax laws vs. single. Partnerships can be either general or limited liability. Talk with your trusted counsel with regards to applicable legal risks on partnership structures. Limited Liability Companies Limited liability companies (LLC) can be taxed as either a partnership, corporation or sole proprietorships. LLC’s are here to stay and have a practical place in entity selection in today’s business marketplace. An LLC taxed as a partnership files the same Federal Form 1065 as a partnership, but provides owner with limited liability protection, e.g….