Are You Frustrated?
Has Sales Growth Slowed?
Are You Feeling Stuck?
The end of 2022 is quickly in view. There is still time to REIMAGINE the possibilities within your business. Elevate & think differently about your small business. Small businesses are the economic engine of the U.S. economy. There is still time left in 2021 to focus on sales driving activities that can create positive change.
DPI
and
Renee Scott Insurance
gathered small business experts together to inspire and motivate entrepreneurs on August 18th. The marketplace is fiercely competitive and constantly evolving.
According to a recent INC article, employees are leaving companies in record numbers. This global phenomenon is called The Great Resignation (a term coined by Anthony Klotz in 2019). According to the US Dept of Labor, in the 2nd quarter 11.5 million workers quit their jobs. Some of these workers are taking the leap into entrepreneurship.
The REIMAGINE event provided a platform to build community and network with other entrepreneurs.
The initial foundation of any organization is critical to the sustainability of that company. Mission, vision and core values are the guiding principles for a company to harness new ideas, innovation and expand capabilities.
Below is part #2
- a sample of advice from the REIMAGINE industry experts.
**This advice is for educational purposes only. Every business owner is responsible for their own decisions.
Tax Coach Professional (Lillie Anthony)
INFO@AAFINANCIALTAXSERVICES.COM
Mid year tax planning affords a business owner an opportunity to make decisions about their business to decrease their tax liability.
Maybe it’s time to purchase new equipment or make other investments but don’t wait until Dec. 31st because there will be very few things that you are able to impact, for example an activity like opening a self directed IRA.
Deduct all business expenses to reduce liability. There are 53+ federal deductions. Always discuss what’s unique to you with a tax professional. Deductions will vary by industry.
Stay organized and keep your receipts. Don’t mix personal and business expenses.
Manage tax credits. These credits will free up money to purchase additional assets or provide employee bonuses at the end of the year.
“The government has one tax plan and that’s the forever tax plan.”
DPI held a separate interview with Lillie Anthony because she ran out of time during the REIMAGINE event. You can find the tax planning interview
HERE.
Make sure to SUBSCRIBE to
DPI YouTube
channel for more.
Succession Planning Professional - Alton Scott, REAP Insurance Group
ALTON@REAPFG.NET
Failing to plan is the greatest threat to the survival of family businesses. Successful transition to the next generation is
possible. You can extract wealth and transition it to the next generation.
Recent statistics - Within family businesses, less than one third survive into the 2nd generation. Only 13% make it to the third generation.
Work with a professional and write a vision. Run your business as if it will be sold tomorrow.
Charge a fee for your services and products that provides value to you and your clients.
Marketing Professional - Wanda Adams, Senior Business Advisor at THRYV
WANDA.ADAMS@THRYV.COM
"Getting found is hard, being chosen is harder."
Markets have evolved and consumers are in the driver's seat. Business owners must appeal to their wants, needs and desires.
Positive reviews are critical. Manage the reviews, don’t ignore negative reviews. Address them fast.
90% of consumers read 10 reviews before they decide if they can trust a business. Have recent reviews on your Google business listing.
Here you can find the entire REIMAGINE
replay.