Do You Have a Contingency Plan In Place For Your Business?

I recently spoke to a client when the topic of having a contingency plan in place for our businesses came up in the conversation.

He asked me if I had one and I paused then said no not yet but I am working on it.

I asked him the same question and he said the same thing.

As entrepreneurs that provide a personal service to our clients it can be challenging to have another person step in if an emergency strikes you personally or professionally. But it is essential that a contingency plan is created for each area of our businesses. I wrote about this topic in a previous blog post and feel that the suggestions are worth taking a look at. I will be reading it over and using some of the tips to create my own contingency plan. It will provide great peace of mind. A contingency plan is like having insurance in place in case of an emergency. It isn’t a matter of if it will happen to you but when it happens to you and how you are going to best prepared.

What about you? Do you have a contingency plan in place for your business? Share in the comments below.

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Welcome To The Month Of May!

I love this month because it kicks off the summer season and it is full of fun celebrations like Mother’s Day and Memorial Day which are good times to reconnect with friends and family. I have been trying very hard to live my life more intentional so that I can accomplish more in my business and personal life. One of those things that I have been focused on is maintaining a healthy lifestyle by eating more veggies and inserting yoga into my exercise plan. A little bit goes a long way and I believe in taking baby steps. The first baby step is eating by the season and month. According to wisebread.com the following veggies are in season this month:

• zucchini

• okra

• rhubarb

• artichokes

• asparagus

• spring peas

• broccoli

• lettuce

Grab a friend or just go solo to your favorite local farmers market and pick your own veggies while getting some great cardio in:)

The beginning of the month brings a clean slate to set new goals and redefine how you want to run your business and your life.

What is your favorite thing to do in the month of May?

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April Bright Spot Round Up

April is pretty much in the record books.

Did you accomplish the goals you set for yourself & your business?

If not there is still time to do so. I know your busy but the blogs that I wrote this month just might be the catalyst to help you reach your goals. Check them out below and have a wonderful day! Happy Reading:)

How To Choose The Right Tax Professional For Your Business Needs - click here

How To Plan For Tax Time For Next Year - click here

Are You Burning The Candle At Both Ends? - you know you are:) click here

KEEP IT SUNNY!

Are You Burning The Candle At Both Ends?

Now that tax time is over it is time to breathe in and out:)

It’s also time to take a pulse check to see if you are still on course for reaching your goals in your business?

If you need a little motivation check out a previous post I wrote about this very topic.

I also want to invite you to go have some fun. All work and no play well we all know how that story ends…lol

If you need a little motivation in this area check out what I wrote about this a few blog posts ago.

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How To Plan For Tax Time For Next Year

We are here my fellow entrepreneurs. It is tax time and if you owe this year I am sure you are wearing a sad face.

BUT it is never too late to plan for next year. Here is a short list to help you get started:

1. Get Your A team together - This includes a CPA, a bookkeeper and a financial advisor

2. Create a System to keep up with your receipts - I like Google Drive, Dropbox and Expensify

3. Keep your books up to date - This goes back to #1

4. Set Up a SEP IRA - This is a retirement account for self-employed entrepreneurs

5. Make sure you have the right business structure - This also goes back to #1:)

6. Plan Write Offs - If you want to make a major purchase you should work with your CPA beforehand to make sure you can write it off

7. Pay Your Estimated Tax Payments - This is on a quarterly basis to ensure you don’t get hit with a big tax bill.

A little planning goes a long way. Although you might owe this year if you take the time to plan ahead you can beat the tax man next year and truly create more Peace in your business.

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How To Choose The Right Tax Professional For Your Business Needs

You are working so hard in your business to provide services to your clients that make them feel better. One day you take a break to work on your business. You are looking at your finances and begin to cringe because you know that your books are not up to date and the tax deadline to file your taxes has come and gone. So you ignore it and go back to doing what you love which is providing the best health and wellness services to your clients. You know you need to connect with a tax professional but the thought of it makes you feel anxious and overwhelmed. You also hate accounting and anything to do with the word taxes.

Does this sound like you?

If it does then you are not alone. According to a survey done on small business owners, “60% of small business owners feel they aren’t knowledgeable about accounting or finance, and 52% of small businesses owners feel they pay too much in taxes.”

So How Do You Choose The Right Tax Professional For Your Business Needs

There are a myriad of ways you can gain access to a tax professional such as getting referrals from friends and fellow entrepreneurs. My favorite tool to use for finding tax professionals and other types of professionals that I might need is to use Dave Ramsey’s ELP program. According to his site, “Endorsed Local Providers (ELP) is a nationwide service that helps you find local experts you can trust. The certified professionals that are recommended are in excellent standing in their industry and provide top-notch customer service.”

So there you have it!

I hope you find the right professional for your business and your personality. They should make you feel enlightened and welcomed. Let me know how it goes and happy hunting!

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March Bright Spot Round Up

Can you believe that the end of the month is here?

It feels like March just got here and now it is pretty much over. I hope you had a productive month and got some of your goals crossed off your list. I have been working on professional development training and using Trello to help me stay on track with my goals. If you were busy going after those goals and missed some of the blog posts I wrote for you take a peek below. The theme for March was how we can share what we do more with others by providing value first. The posts included topics like providing amazing value to your clients, giving away your services for free and the arrival of spring.

When your day has slowed down and you’re in the middle of sipping on some delicious calming tea binge read some valuable tips to help you move towards your goals.

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Spring Is Here!

I love Spring!

It’s a great time to start fresh and to have new beginnings.

It’s also a great time to do some spring cleaning. Do you need to clear some clutter out of your business? Do you have a to-do list for your to-do list and feel like you can’t get things done within your business. Well now is a good time to take stock on areas you want to change in your business and get moving. Do you need a little push? Try working with a coach that can help you push the restart button in your business. Check out Dan Miller’s resources on finding a coach and happy Spring cleaning.

Are you going to do some spring cleaning in your business? Tell me one small step you are going to take towards getting things done in your business.

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Can You Make Money By Giving Away Free Services?

The idea of “giving away” free services might sound crazy. You might be thinking why would I do that? Well what if it was framed more like “adding value?” Now that is a term that feels good to the soul and is often used in entrepreneurship circles. I was listening to one of my new favorite podcasts, Small Business Boss and the topic included how to add value. The discussion was about using strategies that don’t scale and how adding value to your niche clientele can help you sale your services to them at a later time.

A Later Time

I hope that last point didn’t bum you out:(

But it all goes back to what is the tried and true buyers mantra; people like to buy from businesses/people that they know like and trust. This all goes back to building rapport. It allows people to get to know you so that when it is time for them to need a service that you might offer then they will reach out to you.

Slow and Steady Wins The Race

Yes, it is true that Rome wasn’t built in a day and the only way to eat an elephant is one bite at a time.

Cliche’s perhaps but very valid and true.

So to go back to the initial question of can you make money by giving away free services?

Yes you can but not over night and only to your core group of niche clientele who you seek out to add value to their businesses/life by sharing your talents and offerings in an authentic helpful way.

Next week I will share some helpful tips on how to do this.

Do you have current service offerings that you previously gave away for free? What did you learn from that experience? Share with the community so we can all learn together.

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How To Provide Amazing Value To Your Clients

We all know what it is like to receive great customer service and have a great customer experience.

It might look something like this:

You arrive at a new restaurant that you have heard a lot about and are feeling pretty lucky that you got a reservation because they fill up so quickly. The host seats you and your guest and lets you know the waiter will be with you momentarily. The waiter shows up quickly and with a smile on their face ready to offer you menus and take your drink, and appetizer requests. Once you receive your drinks and appetizers the waiter gives you time to enjoy the ambiance, the drinks and appetizers. He returns to take your main course order and like magic your food comes out quick, hot and delicious. Finally you finish your dining experience with dessert and enjoying more of the ambiance. The waiter asks if he can get you anything else and later brings you the check. You don’t even care about the amount and are happy to leave a big tip because you felt special and appreciated at each step along your dining experience.

That is an example of delivering value.

According to the Oxford dictionary, value is “the importance, worth, or usefulness of something.” And Merriam-Webster dictionary describes value as, “A fair return or equivalent in goods, services, or money for something exchanged.”

Is Value Subjective?

Yes, in my opinion it is. But I think we can all agree if you go to a nice 4 star rated restaurant vs. McDonald’s that the expectation is that you will get more for your money at the 4 star rated restaurant. The key word is expectation. If you just give people what they expect then that’s okay BUT if you go beyond what they expect then you can provide them with amazing value. In my opinion, this is something that you can’t buy it is intrinsic, genuine value that makes the other person feel special. In order for it to work it has to be authentic and not rehearsed or fake. It could be described as your competitive advantage.

What do you do different that makes your business different then others?

A great example of this is Zappos.com. They are known for delivering happiness through providing a WOW customer service experience. Here are some ideas on how you can provide amazing value to your clients:

1. Seek to become an expert on what your clients 3 main pain points are and integrate them into your services.

2. Surprise them with thank you gifts for choosing your company to do business with.

3. Create services and packages that are all-inclusive and a win/win solution.

4. Deliver a white-glove concierge experience every-time.

5. Use social media to stay connected and share useful tips or answer questions from followers.

6. Build a community for them through online or in person events so that they can have shared experiences with others.

The bottom-line is that the more you can make your clients feel special and valued in an authentic way the more clients will beat a path to your door.

What are some ideas that you have tried in the past to create more amazing value to your clients?

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February Bright Spot Round - Up

Hey There Awesome Entrepreneurs!

The month is over and I hope you crushed your goals for the month and learned something new to help grow your business. I have decided that each month that I would provide a round-up of the month’s blogpost for you because I know you are busy and might not have had a chance to check out what I wrote for you.:)

This month’s themes were about finding the love again for your business by remembering your purpose and networking.

As we walk into March and the lovely spring season we will talk about how we can share what we do more with others by providing value first.

Happy Binge Reading!

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The Most Popular Health and Wellness Conferences March 2019

It is that time of year again. Yes it is conference season. The entertainment has the award season which we are in right now. (If you have noticed that every weekend there is some awards show on like the Oscars and The Grammy’s:)

Entrepreneurs in the Health and Wellness space have their own “season” too.

Are you a skeptic?

Do you think that attending conferences isn’t worth your time? According to SpinGo.com, “88% participate in trade shows to raise awareness of their company and its brand. Trade shows and expos provide a great way to get your name out and let a very niche audience know about your brand.”

So now that you know that it might be worth your time to make time to attend a conference let’s look at the most popular health and wellness conferences for March 2019.

SXSW Wellness Expo - Austin, TX (March 9 - 10)

This conference is part of the world famous SXSW music festival and is sponsored by the luxurious Miraval wellness resorts and spas. The event is promoted to “fuel your mind body and soul.”

IHRSA 2019 - San Diego, CA (March 13 - 16)

The International Health, Racquet & Sportsclub Association is hosting this premier event for the fitness community with a focus on the health club industry. The key agenda will target; “Education, TradeShows & Networking Opportunities.”

Sedona Yoga Festival - Sedona, AZ (March 14-17)

The SYF Festival 2019 is touted as “Having all the elements of a traditional yoga conference: world-class presenters, exclusive workshops and top-billing artists. But at its heart, the event will always be a festival – a celebration of life at the deepest level.” It’s also a great excuse to travel to one of the most beautiful cities in the United States too.

So there you have it! Take some time to recharge, refuel and network at one of these conferences. You never know if your next ideal client just might be around the corner waiting to meet you.

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Fall Back In Love With Your Business

Tis the season of love. There are all those Kay Jewelers commercials that seem to crop up on every channel. And then there are the endless commercials of restaurants standing ready to reel you in with a great 2 for 1 special on V day.

Are you feeling the love yet?

If you are burnt out on running your business then you are probably NOT feeling the love. Check out these ideas below to get that warm fuzzy feeling again about your business.

• Attend a local meet up or small business networking group in your niche

• Volunteer or mentor fellow entrepreneurs who are at the beginning of their journey

• Join a mastermind group with fellow entrepreneurs who can help you take a deep dive into your business

• Work with a coach that is specific to your business niche

• Attend a conference and meet new people

• Change up your routine and schedule time for fun

• Read or listen to a good book on entrepreneurship or a good autobiography to get inspired

The list of things you can do to get your passion back for your business is endless. We all go through dry spells during our business journey but we must remember this is a chosen path. There are probably many reasons why you started your business and now it is time to get re-energized to share your gifts.

What are some things you do when you get into a business rut? Sharing is caring:)

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Tax Preparation 101

Are you done with your tax filing yet?

I am sure you are probably shaking your head no and wondering where to start.

Well, have no fear and check out the post I wrote about how to find a tax preparer and other tax tidbits. I am a fellow entrepreneur and not a tax professional so this isn’t advice but reference material to help you in your research.

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January Goal Setting Check In

How is the goal setting and goal getting going for you? It’s okay if you fell off the wagon because you can get back on.

:)

Check out the previous posts I wrote about this and reboot your business and your life goals. The year is still very young.

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What Business Expenses Can I Write Off?

Tax time is here.

Does that statement fill you with stress?

For most people it does. I just want to say upfront that I am not a tax professional and this is not tax advice in any shape or form. What I am is a fellow small business owner and like you are wondering what business expenses can I write off? According to Bench.co and Cogent Analytics, here is a short list of what is currently deductible with the new tax laws that went into effect this year:

1. Office Snacks & meals

2. Company Wide Party

3. Banking Fees

4. Donations to Charity

5. Advertising Deductions

6. Convention and Trade Show Attendance

7. Business and Business Vehicle Insurance Premiums

8. Home Office Expenses

9. Professional Costs like bookkeeping and legal fees

10. Interest on Business Credit Cards and Business Loans

11. Education Expenses

12. Wages and Salaries

13. Taxes Previously Paid

14. Non-Cash Rewards and Gifts

This is just a short list of what you can write off according to these sites. Do you have a tax professional to help you get this squared away? if not check out The Endorsed Local Provider program that is on Dave Ramsey’s site. It is a location specific directory where you can research professionals who have this expertise to help you get through this tax season stress-free. And if you need help to get your books in order to give to your tax professional I am always here to help.

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Happy New Year!

Happy New Year Everyone!

We have officially made it to 2019. It sounds so strange to me but we are here. I hope you had a wonderful holiday season with your friends and family.

Did you spend time in quiet reflection at any point?

I hope so.

I did a lot of thinking and goal setting for this year.

Do you have a theme for this year? My theme for this year is the year of completion; Plan It & Do It!

The new year brings with it a clean slate and a chance to start fresh. Name your goals and make a plan to get them crossed off your to-do list. Here is a previous blog that I wrote to help you get started.

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Countdown To The New Year! Let's Get Ready For 2019

I am so excited for 2019 and all the great things that are ahead.

I don’t know about you but 2018 was filled with many twists and turns. It was a good year but there are always areas for improvement. Especially when it comes to being a business owner. I was listening to a podcast by Christy Wright from The Business Boutique and she talked about creating a list of what went well, what went wrong, what was missing and what left you confused about your business. I thought this was a great idea and I plan on taking some quiet time to complete this exercise. If you want to learn more about it and other tools that will help you get ready for the new year check out her podcast episode #63 here.

I hope 2018 was a good year for you. As you relax during the holiday season take a moment to celebrate your wins for this year and get ready to kick butt in 2019.

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Help Wanted

I hope you are enjoying the holiday season with your family. This time is very magical and filled with fun. I hate to bring up taxes right in the middle of this fun time of year but hey we are business owners and it’s that time. :)

So do you have a CPA?

If the answer is no then check out Dave Ramsey’s ELP program. ELP stands for endorsed local provider and this is where you can start researching and hopefully find a CPA for your business.

I know you don’t want to think about this but it’s good to get this taken care of so you won’t be in a panic once the new year starts.

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IT's Tax Time

We are getting down to the wire and the end of the year is upon us. Soon we will be in the year 2019 (which sounds very futuristic:) and the tax season will be in full swing.

Are you ready?

According to a stat on Entrepreneur.com, “50% of small businesses in the U.S. spend more than 40 hours a year managing their federal taxes.” That doesn’t sound like fun at all.

Check out this short list to help you not become a part of this statistic:

1. Have a bookkeeping professional help you get your books in order.

2. Gather your receipts and supporting documents

3. Find a CPA that fits your personality & business

Here are some resources for you to check out to help you with these 3 checklist items:

CPA On Fire - Here is an article/video on how to find the best tax preparer for you.

Fit Small Business.com - Here is an article on how to find a bookkeeper who is right for you.

Startups.com - Here is an article on how to best manage those pesky receipts.

I hope this will be helpful to you as you wind down your year and get ready for the one ahead.

Keep it Sunny!