Discovering the Metrics

Last week, I shared some ideas with you guys about how easy it can be to begin creating management solutions in your business to help you recapture your free time. 

Did you get the chance to do any of those last week? 

I hope so, because the end result is simple – more time for you to do the work you want to be doing and less – sometimes far less – time chasing your tail or “doing” numbers. 

This week, though, I want to share a next step based on that process.  After all, once you’ve created a system, and maybe you realize it’s not perfect, how can you fix it? 

Well, keep reading!

As a “numbers person” I have to live in the world of quantifying answers.  The IRS doesn’t care if my clients “think” they’re profitable, they deal in the absolutes of numbers. 

Numbers don’t lie, and that’s the attitude you must have when it comes to quantifying the results your innovations are generating.  How do you know if your innovation works?  Simple!  Look at the statistics before the innovation, and look at them afterwards!

If you created a process to speed up the sales process, then you should see a higher number of new clients as you compare before and after. 

On the other hand, you also need to look deeply into things.  If you’re closing at a higher rate, then you need to ensure that other systems are negatively impacted.  For example, when you sold a bunch more “new” clients, did you swamp your fulfillment team?  Unintended consequences are also metrics you need to make sure to study, and, quite frankly, if you’re really making improvements, then your quantifying data shows you exactly the places that need innovation and creation, too. 

It’s a “chicken and egg” challenge, but one that allows you and your business to constantly grow – and that’s the core of the entire process we’re outlining this month! 

An easy way to continuously innovate within your company – and NOT get caught up in the constant game of “catch-up.”

So this week, take the time to look at that one thing you changed last week and really study on the changes you expected to see – and the changes you might not have expected, too.  What are the metrics you’ll look at?  What are the things that “should” change as a result of the processes you’re creating? 

These will be the key to your success, and more importantly, they’ll be the reason that you and your company grow when others are struggling – or shrinking.

The secret, in my own humble opinion, lies in focusing on the fact that every business is going to change and being open to that change – and communicating and teaching your people how easily your company is going to be able to make those changes.  When they see the business smoothly executing and navigating changes and creating solutions, they’ll not only respond favorably, they’ll be “on board’ with the innovations you’re making.

All the best-

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892.

Turn Off the Noise

First things first – this month, I’m not spending a single sentence in any of my communications to discuss who won the election, why they won, or if it was a “good” election or a “bad” election. 

The news is going to be filled with that for the next month, so spending time rehashing it is wasting time I could be sharing REAL things with you. 

He won, he’ll be president.  It’s that simple. 

Now, on to bigger and better things!

Last month, we looked at how entrepreneurs MUST stay focused on the dream, vision, purpose, and mission they opened their businesses to fulfill, but this month, I wanted to spend some time addressing businesses that are already open and “doing well…”

What’s the best process to easily and continuously manage that business? 

Well, in my own experience, most small businesses and start ups begin to fail because their owners never took the time to simply develop a process to manage anything UNLESS they were personally involved. 

You’ll never scale it that way, but the good news is you can adopt a simple, four-step process to begin to create a management strategy that works, over and over again. 

The first step? 

Innovating.  Now, that may be too much of a word for you, but it’s really the perfect one.  If it’s scary to you, use “creating” to make it easier. 

Let me put it simply:  create the systems you’re missing. 

Here’s an example…

Think about one thing you can’t seem to let go of at your company.  The process for opening the store each day, or documenting sales and customers each week.  You might do this without thinking, and now, I’m asking you to think about it. 

What is the exact process you do as you do a given daily task? 

If you can document it, you can create it, and if you create it, you can teach someone else to do it. 

So let’s get started!  Think of one, or two, or half a dozen tasks you have never been able to offload, and today (or at least this week), document how you do them and teach somebody to do them! 

One word of warning, though, don’t do this as an “on the job” training process, do this within a written or digitally documented system.  Video software like UseLoom, software like Excel, or even just a bulleted list with screenshots attached can all be the start of the training process, and more importantly, allow you to recapture the essence of your job – being the leader and the entrepreneur who created the business.

Take this time to create and innovate these small pieces, because five minutes saved here and there lead to hours – and then days. 

Chat soon!

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892.

Having More Than You Can Handle

A lot of you guys might have looked at the title of this email and thought “I’ve got so much on my plate right now, I’ll never get done!”

Really? 

Let me say this – having plenty to do isn’t a bad thing – it’s a blessing.  Look at how quickly many of us were impacted this Spring. 

Lost revenues, lost jobs, lost educations…

And we all had a choice – sit at home and bemoan the facts or get busy and start filling up our days.  Now, maybe you’ll take offense to this, but we all know far too many people who decided to simply sit at home and pocket unemployment benefits and now, those same folks are worried about what’s next. 

Here’s the larger point – what you plan to do each day is what you will do each day.  It’s called Time Compression and, to put it simply, it works. 

Basically, it works like this – if you give yourself or someone else a task to do and attach a time limit to that task, the amount of time you give them is the amount of time they’ll take. 

Give your kids a day to clean their rooms – they’ll take a day. 

Give them an hour and guess what? 

After an hour, that room is still clean. 

Imagine if you could harness that same power in your own day, life, and career?  You can!

Fill up your schedule!  Make those appointments!  Reach out to people – your banker, your attorney, your CPA – and make time to speak with them about what is going on in business, in your career, and how they are keeping up in their own businesses. 

The same holds true for neighbors, co-workers, even others in your industry that might be in other markets. 

Why is this?  Because you’re getting information, not just mindlessly scrolling through cat videos.  More importantly, you’re continuing to grow and sharpen your skills, or increasing your exposure to new opportunities that you may never have known about. 

The result is simple – and obvious – you make more money.  Bottom line. 

But there’s another intangible to this, too.  You’re gaining visibility, too … and just as importantly, you’re really never going to be overwhelmed, for one simple fact:  you’re too busy and people know it. 

When you fill up your schedule, you’re going to fill up your pockets, too. 

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892.

What’s the Point?

This month, I’ve been sharing some ideas about entrepreneurship that I see so many people losing sight of.  So far, we’ve talked about the original dream we all started with that might have been forgotten about in all the noise out there, then we discussed the vision you had for your company when you opened those doors.

What about the point of your company?  The actual purpose?  An entrepreneur doesn’t open a real estate company, or a chiropractic office because they want to make money, they do it because they love it and because the work they are doing has a purpose.  It is serving their clients, their patients, their customers.

Can you still remember that?  Or was it lost in all the noise of 2020 and pandemics, virtual schools, fires, and social unrest? 

Think about that for a second…

No, I mean really think.

What – and who – are you in business to serve and why?  What does Susie or Rick or Frank come away with when they do business with you?  It’s NOT just about a great product at a great price, it’s about a feeling your business gives them. 

A result of doing business with you. 

The point, or the reason they pass countless other businesses just like yours to be able to do business with you. 

Do you remember the purpose of the company you created?  The “after” you sell to your customers? 

Because when you get clear on that – or remember it – then you can reconnect with the whole point of opening the doors in the first place!  When it comes to this, it’s not about you, it’s about what you can do for your ideal clients.  When they leave your office, you’ve given them something, and that feeling is directly connected with the entire purpose of your business. 

More importantly, a business that doesn’t remember (or honor) its purpose can never be as successful as a company that is perfectly clear on theirs. 

If you’re sitting here, nodding your head and maybe – just maybe – thinking you might’ve strayed off the reservation a bit, then I want you to really reconnect with the “why” of your company.  The smiles your clients have when you and your team do exactly what they said they would do.  The referrals you get because your customers are excited about the experiences they have with your business. 

Maybe 2020 has dulled this – and today – and this week, I want you to reconnect with that idea, that point, that purpose. 

It’s going to make a huge difference! 

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892.

Do you have 20/20 in 2020?

As I mentioned last week, all the “Doom and Gloom” of 2020 has reminded me how critical your beliefs are to your business success.  It all begins when you take the dream you’ve created of your new company and make it into a reality and open those doors for the first time. 

But how many companies struggle with that?  (Hint, most of them!)

How many entrepreneurs like you and I lose sight of that dream before they can ever be successful?

In 2020, so many things have conspired against us, it’s easy to lose sight of the ideas – the dreams – we founded out companies on, but how did you develop that dream into something tangible?  That’s where your vision has to be kicking in. 

When you opened the doors, what was the vision you had?  Even if you won’t admit it, you had one.  Can you remember? 

Tom Watson, the man who largely put IBM on the map, did.

In his mind’s eye, his vision of IBM was as a fully formed company.  He saw the blue suits, he saw the global reach, he saw the transformative technology that would transform the company – then known as CTR (Computing-Tabulating-Recording Company) – into the international powerhouse that was and is IBM.

Can you see it in your own business?  You remember the dream from last week, but can you remember the vision you had for your business? 

The lives you were going to impact. 

The great results your company was going to have on your ideal clients and customers? 

Why, after some time has passed, is it so hard to believe you can’t do that every single day – even in such a crazy world as we’re living in right now? 

The truth is, you can.  No matter about COVID, fires, riots, unrest in the cities, a Presidential election that will undoubtedly lead to more drama, and the oft-discussed “second wave” that health care professionals cannot agree on. 

You can. 

Use the old vision to improve the one you see right now. 

Your clients still need what you have to offer!  Maybe they aren’t sure how to access it, or they are worried about the costs. 

Your vision is still 20/20, but maybe you simply have to be more creative in your approach.  Remember, the same confusion that’s affecting you and yours are affecting all of your clients, too. 

So what should you do?  Reconnect with that vision and use what you’ve learned to decide if that vision of your company is still the right one.  Maybe 2020 has taught you that “brick and mortar” isn’t the direction you need to go.  That’s fine!  Just look at how our focus has shifted to the virtual world in such a short time.  In fact, online retailers – and even professionals like CPAs, attorneys, and medical experts – are doing the majority of their business virtually. 

The vision you opened your doors with may or may not be perfect for our situation right now, be the beauty of that is simple:  your vision is only to support your dream.  You can still fulfill the dream by simply being realistic with your vision.  Make the changes your clients want and reengage with them!

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem.  Make an appointment here!  Or, call Toll-free 1-855-254-1892.

Theme for this Month: Quit Worrying!

Let’s just go ahead and drag it ALL into the daylight:  2020 has been tough.  Economies locked down, businesses shuttered, social activities and even traditional types of business and learning have virtually ceased to exist. 

Even mundane things like “going to the movies” or watching sports have all been impacted. 

Over an over again, my team and I have heard the worry in people’s voices as we’ve discussed plans on how small businesses can cope with this, and the truth is simple:  you either think you can (and you will) or you think you can’t (and you won’t0.

Now, of course, we’re headed into what is promising to be a crazy Fall, with elections at every level and plenty of discord around the world. 

Let me tell you something, if that has you worried – or proceeding cautiously as an entrepreneur, then you’re doing it wrong. 

This month, my goal is to share one key idea each week to keep you inspired and thinking about growth and success in business, not all the “noise” that’s affecting (or infecting?) us everyday. 

Think about it: “bad” economies and tough times have made far more fortunes than good times.  Besides – what have you got to lose!

I want to start the month off on the right foot, though, and the first thing to think about, as you consider how to grow and be successful in business no matter what is this:  What did you open the doors of your company for in the first place?

In other words, what was your dream?  What were you and your company going to do so differently than everyone else in your industry? 

Can you even remember, or has that passion been lost in all the noise of stress, growth, and “busy-ness”?

THAT’S what the most successful businesses in the world haven’t forgotten – why they do what they do. 

McDonalds – like it or not – knows what they do and how to do it. 

Starbucks – even with so many stores shuttered - knows what they do and how to do it. 

All over the world, businesses ranging from personal coaches to real estate investors are all making money and NOT stressing – because they have never lost sight of the dream they were founded on. 

Can you say the same thing? 

I really hope you can, but, as so many phone calls and conversations in my career have shown me, it’s often not the case. 

Make time this week to reflect on why you opened the doors and the reasons you did it, and then, be honest with yourself as to whether or not your company is still upholding the dream you set out to create. 

Of course, I’m always open to hear your thoughts, so don’t be a stranger!

All the best-

P.S. Notice I didn’t mention anything about taxes?  That’s NOT an accident, but we are absolutely focusing on the fourth quarter right now.  If you’ve got some worries, don’t hesitate to pick up the phone and set a time to discuss ANY challenges you think you have!

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem. Make an appointment here!  Or, call Toll-free 1-855-254-1892.

Retirement Planning As A Single

For many people, the idea of retirement planning revolves around the family.  You’re not only saving money for your own use after you stop working, you’re also looking at your legacy to be left to your family in terms of financial assets and wealth generation tools. 

On the other hand, for those who are single – and especially those who don’t have a family to leave that legacy to, retirement planning can be a challenge. 

For starters, you’re truly “on your own” – if you have a financial shortfall, there simply is no one else to help you.  In generations past, adult children could often assist their elders, but the breakdown of large family units – as well as the dispersal of kids around the country and the world – makes that analogy dated. 

So what can you do to make sure you’re saving enough? 

The first thing is to acknowledge the challenge and identify the team who can support you. 

To me, the most logical members of this team are your primary care physician, your CPA, your financial advisor, and the attorney who is developing your estate plan. 

(I’ll also add in your life insurance agent, especially for those who have wisely invested in whole life or universal policies.)

Each of these folks can help you not only counsel you on how to budget, where to turn for care or assistance, and even, when the going inevitably gets tough, how to make the correct decision. 

One thing you cannot do – you can’t wait.  Even if you’re young and still might marry, having this team assembled and providing you advice and planning only strengthens your ability to retire in the style you wanted to in the first place, regardless of whether you have one or two streams of income to save with. 

Understand, though, that certain guidelines change when you’re by yourself.  For many years, I’ve advised an emergency fund of at least three month’s income, but when speaking with my single clients, I purposefully up that number to 12 months. 

Why? 

Safety.  That same winter you get laid off will be the one your furnace quits in, and remember, in the case of a family with dual incomes, one member being laid off still allows for “new” cash to be coming in. 

As a single earner, you’re making less and when you lose your job, ALL income stops. 

Better to have reserves than worries. 

It’s a complicated endeavor, so its critical you recognize that many of the traditional answers to the challenge of retirement planning are different for singles.  My best advice is to really dig into how to properly structure a long term plan – reach out to me, reach out to the others experts on your team, and get this process started. 

We’re here for you!

IMPORTANT: Our firm specializes in tax resolution. We also serve clients virtually so don’t hesitate to reach out.  If you want an expert tax resolution specialist who knows how to navigate the IRS maze, reach out to our firm and we’ll schedule a no-obligation confidential consultation to explain your options to permanently resolve your tax problem. Make an appointment here!  Or, call Toll-free 1-855-254-1892.