Pay Play Profit (Jessica Mae and Marilyn Parham)
Explorez tous les épisodes de Pay Play Profit
| Date | Titre | Durée | |
|---|---|---|---|
| 20 Sep 2022 | 101: Back to The Basics Checklist to Achieve Breakthrough When You Are Stuck | 00:36:29 | |
Feeling stuck in your business? Well, don’t we all get that feeling at some point? Maybe you’re wondering why you can’t get to the seven figures or nothing just seems to work, we all have been there. When you’re at this point in your business where you feel stuck, you’ve got two choices. You either whine and stay stuck – or you do something to break through that ceiling. In this episode, we’re going to help you get that clarity you need with a simple yet special toolbox that we use here at The Bottom Line®. The Entrepreneurial Operating System® or EOS® program is a powerful tool that trains you on how to get super clear and understand what you need to do to get to where you want to go and who you need to do it with. Today, we dive into the EOS® toolbox to share with you this checklist, which is actually a tool to help make you step back so you can identify the areas where you’re currently stuck. Identify the problem, otherwise, you can’t fix it. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Entrepreneurial Operating System Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 14 Sep 2021 | 061: Understanding The Employee Retention Credit | 00:33:15 | |
The Employee Retention Credit is a new credit that came out of the CARES act. The federal government put it in place to try to keep employees employed. They are giving employers money back to ensure this. The credit is basically a refund of the Social Security and Medicare taxes you have paid on your employees’ wages. The idea behind the credit is to defer your payroll taxes. By the time the taxes are due, you will have this credit so you potentially won't owe them. However, as with everything in the CARES act, things are constantly changing. Today, we discuss how the ERC works, which types of businesses can take advantage of it, and the new changes that have been implemented in 2021. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 17 Jan 2023 | 118: REPLAY: Common Retirement Plans for Small Businesses | 00:25:27 | |
If you still haven’t been planning for retirement, there’s no better time to start than now. Maybe you're a spender and not a natural saver or maybe you're too much of a saver and don’t spend money when you should. Either way, this can cause issues down the road because there's a difference between spending, investing, and stewarding. Whether you have a spending problem, you haven't been brought up to prioritize planning for retirement, or you lack education on all of this, you can always start now. Today, we're going to dive into the common retirement plans for small businesses. We hope to inspire you on what you can do right now and with exactly what you have to plan for retirement and save on taxes Before we get into the technical stuff, don't come with a mindset that you have to have a retirement plan because you're using it as a measuring stick of your worth. People have different sets of circumstances than you and they're prioritizing things differently than you at this point. Retirement is the least of many people’s worries. Maybe there's a reason why this hasn't been part of what you've done up to this point. However, when it's the right time for you, it will be the right time for you, even as a business owner. The least you can do is to equip yourself with some knowledge right now so you can use it whenever you're ready. Just listen to this episode with an open mind because even the smallest movement in this area will make a big impact on you down the road. It's never too early. No amount is too small. Start the process. And don't do it alone! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com. | |||
| 04 Oct 2022 | 103: What To Know & Understand About Building a Team Across Multiple States | 00:33:26 | |
A lot of people have this idea that they can just open a shop in whatever state they want and just send the paycheck to the person working remotely. Well, it’s actually more complicated than that because there are some things you need to consider to ensure compliance when it comes to hiring from outside of your state. At The Bottom Line®, we’ve been doing this for almost 10 years now, and so, we’d like to share with you what has worked for us – and not. Joining us today is Chris Mahler, our strategic partner and compliance consultant here at The Bottom Line®. In this episode, we're diving into what you need to know and understand about building a team across multiple states. Sure, it’s a nice idea to believe you can hire anybody from anywhere. But then you’ve got to start counting the cost and what that actually means administratively, financially, and from a tax perspective. Don’t freak out or get worried about all this because there are experts who can do all this for you. But at least you want to be able to see around the blind corners when it comes to making decisions around payroll. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 05 Apr 2022 | 083: Working Through The Challenges of Growth & Capacity | 00:28:26 | |
Every entrepreneur wants a business that could outlive them. For that to become a success, you have to be very clear on what you want and make sure everybody is on the same page in terms of where you want to go and grow. This takes a great deal of honesty with your capacity as a leader and an individual. Therefore, the impact has to come from the top down to the bottom line. It’s a top-down issue. You're never going to solve capacity issues in your team if there's not clarity at the top and if there's a misunderstanding about your role in that process and what your capacity looks like in it. This also entails a lot of refinement and realignment. Again, it has to start with you! In this episode, we’re sharing tips and strategies that worked for us as we were – and still are – working through challenges of growth and capacity in our own team. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Books: What the Heck is EOS by Gino Wickman + Tom Bouwer Crucial Conversations by Kerry Patterson How to Be a Great Boss by Gino Wickman + Rene Boer Other Resources: Pay, Play, Profit Podcast: Episode 082: Financial KPIs & Data Cadences For Your Online Business Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 06 Sep 2022 | 099: How to Determine Accountable Plan Reimbursements for Home Office - Part 2 | 00:21:39 | |
The accountable plan is a policy within your company or your entity, which outlines how you reimburse yourself as an owner, employee, or shareholder-employee. And if you have team members within your business, the accountable plan is a good policy for them to get reimbursed for expenses as well. One of the ways you get compensated for your business is wages, distributions, and expenses. And so, you’ve got to know which for what and an accountable plan is a great way to get reimbursed for those expenses. But first, let’s differentiate home office reimbursements from home office deductions. Yep! Those two are not the same. The home office deduction is for the Schedule C filer, which is the sole proprietor or the single member LLC. The home office reimbursement, on the other hand, is a potential tax strategy that a corporation or partnership can use in their accountable plan. Specifically, the home office reimbursement is an expense report to reimburse the employee of a corporation or a partnership when using their home for business purposes. Now, there's a process to determine accountable plan reimbursements for your home office. In this episode, we're going to walk you through what the process would look like when it comes to handling everything. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode 095: Using An Accountable Plan To Create Tax-Free Reimbursements Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 24 May 2022 | 089: 2022 Cryptocurrency Basics & Tax Treatment | 00:35:14 | |
If you're battling with some decisions and indecision related to cryptocurrency, we want to share what we know (so far) about the world of cryptocurrency. We admit it’s something very new to us but we have clients who are already in the space and are about to be in this space. And so, we want to meet them where they’re at, slowly but surely. In January 2022, we sent someone in our team to a cryptocurrency tech summit so she could learn more about cryptocurrency and bring some things back to our team and get the basics under our belt. One of the things we found out is that merchants utilizing crypto for payment are paying less in fees. As you're learning more about crypto, you could be saving money in merchant fees, which can quickly add up. So far, there are no brokerage crypto statements coming out yet. And if you're planning to play in this digital field, you have to have the checks and balances you need to properly report because that reporting piece is loose at best right now. It depends on which coin you're dealing with, which platform you're dealing with, or how well-formed it is because there is no clearly defined regulation right now. Frankly, it’s all being built. If you're going to play in the wild, wild west of cryptocurrency, make sure you have the right controls and tools in place to stay organized. You have to represent your data well when it comes to tax time because you don't want to overpay in tax, and you want to be able to rely on data. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 22 Feb 2022 | 077: Our Proven Process and Why Every Business Needs One | 00:21:58 | |
Do you have a proven process? If yes, do you have a visual form of your proven process? And does 20% of the process drive 80% of your results? If you answered no to any of these questions, then you must listen to today’s episode as we dive into our proven process here at The Bottom Line. In fact, it took us almost nine years to get a proven process. Although we've had processes all along, we didn’t clearly understand what a proven process was and what it could do for us until we started the Entrepreneurial Operating System (EOS). If you are struggling to scale your organization or you have a growing team and you need a manual that you don't have to create, EOS’ proven process may just be what you need. The tools we have been using are just amazing in helping us lead, manage, recruit, and encourage people. And so, we hope it does the same for you. At the end of the day, managing is all about getting people on the same page – making sure you get their buy-in, they get it, they want it and they have the capacity for it. That's when you know you have the person in the right seat because they exhibit your core values. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: TBL Proven Process: https://drive.google.com/file/d/1NKK10WuJTlEmknH1hbBeFGPmKr2mlwgA/view?usp=sharing Book: Traction by Geno Wickman - https://amzn.to/3dwejaS Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 25 Apr 2023 | 132: REPLAY: Identifying & Overcoming Limiting Beliefs | 00:37:04 | |
Are you quick to say phrases like, “I won’t,” “I can’t,” or “I shouldn’t?” If so, that's a good sign that you're tapping into a limiting belief. We all have limiting beliefs as a result of our past experiences, family backgrounds, and spiritual or socioeconomic backgrounds. Oftentimes, these beliefs were instilled in us in childhood and we carried them with us as we got older. In this episode, we talk about identifying and overcoming limiting beliefs because that is what will set you free. This is a very powerful conversation to have because a lot of us are stuck in prisons we don’t even know we’re creating. The key to getting out of your prison is identifying your limiting beliefs. You can overcome your limiting beliefs by retraining and rewiring your brain. Growth and freedom start in your mind. Ultimately, it's all about the power of the mind and what you choose to believe. That means you must unlearn what you think you know. This is one of the most powerful things that you can personally work on to make sure that your 2021 closes strong and that you're setting yourself up for success in 2022! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 29 Nov 2022 | 111: Annual Planning 2022: Crafting One-Thing Commitments For Growth In 2023 | 00:28:37 | |
Today, we're diving into our annual planning for 2022 and we’ll show you how we’re crafting our one-thing commitments for growth in 2023. This activity is actually a part of the EOS way. But whether you're on EOS or not, this exercise definitely applies to every single business. Trust is the foundation for every relationship and it has been a very important ingredient in our journey with EOS for the last two years and in our last 10 years in business in general. Building trust is a 24/7 opportunity. And part of building that trust is to have some form of planning. If you're making this a commitment for your leadership team, you will grow together as a team and be able to practice vulnerability – a muscle that you have to learn to use continually. This is a great time for everyone in the leadership to receive feedback and be vulnerable and kind. Remember, you will feel every ounce of growth you ask for when you want it. And depending on how hard you want to play this one-thing commitment will help you discover that. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: EOS
If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com. Let them know we sent you. | |||
| 02 Nov 2021 | 066: Top 50 Tax Deductions in 2021 | 00:46:00 | |
As a business owner, you definitely want to maximize your tax deductions. In simple terms, a tax deduction is anything you spend or incur in your business that is an expense of some sort. It's a deduction against the revenue of your business, whether you consider it a cost of goods, an expense, or even a home office deduction. Sometimes, tax deductions are not 100%. In particular, most people think about meals when talking about tax deductions. In 2021, all meals have only been 50% deductible. That being said, the business can pay for what it needs to pay for as long as it has a business purpose. However, within the tax arena, deductions are the things that get to be reduced from your income before tax is calculated. The goal is to get as much as you can in tax deductions to minimize liability. However, that shouldn't be your only reason. If there's something your business should pay for but you might not get a 100% deduction for it, that shouldn't stop you from doing it. It can be a complex world out there. Just be consistent and have a process in place and you'll be fine. Don't blame your bookkeeper if your tax return ends up not being right. You need to look at your books because you’re the one who’s going to have to stand up for them in the event of an audit, not them. Therefore, understand where you need to allocate things and what expenses are what. Once you make those decisions, you won't have to make them again anyway. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Top 50 Tax Deductions for 2021 Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 30 Aug 2022 | 098: Officers Compensation vs. Shareholder Compensation vs. Wages & Salaries | 00:17:44 | |
The decisions you make today create what you own tomorrow. That's why you need to code your wages and know the differences between them. You want to create straight lines and clarity across all the players by making sure you're breaking down everything in your books. Today, let’s delve into the officers compensation vs. shareholder compensation vs. wages & salaries. Knowing the difference is important. You want the tax return filed more efficiently and accurately because “reasonable compensation” is a big deal. Being able to draw those lines and separate them out also allows you to analyze your business better. For instance, officers compensation and shareholders wages should not be reflected in your operation. And if you're a sole proprietor or a single-member LLC, you don’t get wages and salaries. Instead, you get an owner’s draw, which should not be part of your expenses. This is actually very straightforward if you understand the hats you have on. States and federal agencies are ever more transparent now and all these things are going to tie down at some point. Therefore, you have to make sure that your processes around your finances and your partnerships are all on the same page. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: 097: Direct Costs vs. Expenses & Why You Should Care About Knowing The Difference Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 03 Jan 2023 | 116: REPLAY: Top 50 Tax Deductions | 00:46:42 | |
As a business owner, you definitely want to maximize your tax deductions. In simple terms, a tax deduction is anything you spend or incur in your business that is an expense of some sort. It's a deduction against the revenue of your business, whether you consider it a cost of goods, an expense, or even a home office deduction. Sometimes, tax deductions are not 100%. In particular, most people think about meals when talking about tax deductions. In 2021, all meals have only been 50% deductible. The goal is to get as much as you can in tax deductions to minimize liability. However, that shouldn't be your only reason. If there's something your business should pay for but you might not get a 100% deduction for it, that shouldn't stop you from doing it. It can be a complex world out there. Just be consistent and have a process in place and you'll be fine. Don't blame your bookkeeper if your tax return ends up not being right. You need to look at your books because you’re the one who’s going to have to stand up for them in the event of an audit, not them. Therefore, understand where you need to allocate things and what expenses are what. Once you make those decisions, you won't have to make them again anyway. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 17 May 2022 | 088: Setting the Table for a Remarkable Client Experience | 00:35:54 | |
Whether you’re selling products or services, digital courses, or memberships, having a clear picture of what your client experience looks like will help you create the kind of relationship you want to build with your clients. While there is no perfect client, no perfect team, no perfect accountant, and no perfect business, relationships are still the key to keeping it all together when some things are not necessarily working at their optimum level. That being said, a remarkable client experience is both exciting and terrifying because relationships take work and it has to continue even after onboarding. In this episode, we're going to dive into the first 100 days of a client's experience, which is a proven process at The Bottom Line. One big key to making transformational success work in our process is in our meet-and-greet session right at the beginning of our 60-minute session with our clients. As your client’s processor, partner, and protector, depending on the season, you need to look out for each other's blind spots. And if your clients don’t feel they have a safe space to communicate with you, then you miss the opportunity for that partnership to come full circle.
In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Never Lose a Customer Again by Joey Coleman
Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 22 Mar 2022 | 081: People & Culture Is Bigger Than Processing Payroll | 00:26:40 | |
Payroll is part and parcel of any company structure, but there’s more to it than just processing payroll – and that’s People and Culture. In today’s episode, we're going to dive into how People and Culture in HR is bigger than processing payroll. The HR function should not just be cutting checks for payroll or signing off on a handbook. It's more about finding ways to communicate with your employees how important they are and letting them know and feel how much you appreciate them. People and Culture starts with payroll because that's where the trust-building starts. Sure, you can have the best intentions. But if you can't get that one right, your people aren't going to see anything else, and that's what’s going to create the kind of culture within your team. At the end of the day, you can't have a fully functioning HR department when you can't get the basics down, payroll included – but then again, it’s more than just payroll! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: The Five Dysfunctions of a Team by Patrick Lencioni Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 21 Sep 2021 | 062: Gaining Momentum with Your Executive Assistant | 00:42:59 | |
As a visionary or an executive, you may get it in your head sometimes that you’re hiring people for yourself. However, you’re there as a leader for your people. Success depends on the growth of your leadership. Therefore, you have to be the leader that your people are proud to serve. At The Bottom Line CPA, we're in the process of adopting the Entrepreneurial Operating System (EOS) founded by Gino Wickman. As a result of that, everything has been changing in the last 18 months. Today, Jessica brings in Mary Beth Pennington, a longtime employee of The Bottom Line who has just transitioned to the executive support function inside the marketing and sales department. Those areas are largely centered around inbox and calendar management, scheduling, and file management. Listen in as they talk about how you can gain momentum with your Executive Assistant, how you can build trust on a foundational level, and some lessons they’ve learned during this pivotal transition in their organization. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Entrepreneurial Operating System (EOS) How to Be a Great Boss by Gino Wickman and Rene Boer Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 14 Dec 2021 | 069: Identifying & Overcoming Limiting Beliefs | 00:36:23 | |
Are you quick to say phrases like, “I won’t,” “I can’t,” or “I shouldn’t?” If so, that's a good sign that you're tapping into a limiting belief. We all have limiting beliefs as a result of our past experiences, family backgrounds, and spiritual or socioeconomic backgrounds. Oftentimes, these beliefs were instilled in us in childhood and we carried them with us as we got older. In this episode, we talk about identifying and overcoming limiting beliefs because that is what will set you free. This is a very powerful conversation to have because a lot of us are stuck in prisons we don’t even know we’re creating. The key to getting out of your prison is identifying your limiting beliefs. You can overcome your limiting beliefs by retraining and rewiring your brain. Growth and freedom start in your mind. Ultimately, it's all about the power of the mind and what you choose to believe. That means you must unlearn what you think you know. This is one of the most powerful things that you can personally work on to make sure that your 2021 closes strong and that you're setting yourself up for success in 2022! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 03 Aug 2021 | 054: Celebrating Y21Q02 Profit Distributions | 00:21:54 | |
It's the end of the quarter which means it's profit distribution time! At Profit Hero, we celebrate the end of each quarter. We hope this episode inspires you to also celebrate profit distribution by the end of Q3. The end of each quarter is sometimes bittersweet for us because not everybody has the same story. However, there are always good things at the end of each quarter, no matter what that looks like. If you're still not putting profit back into your business, then get started right now. Make it simple. Make it small. But definitely make it a habit! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Previous episodes on Profit First: https://www.profithero365.com/017 https://www.profithero365.com/004 Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 24 Jan 2023 | 119: REPLAY: Our Proven Process and Why Every Business Needs One | 00:22:40 | |
Do you have a proven process? If yes, do you have a visual form of your proven process? And does 20% of the process drive 80% of your results? If you answered no to any of these questions, then you must listen to today’s episode as we dive into our proven process here at The Bottom Line®. In fact, it took us almost nine years to get a proven process. Although we've had processes all along, we didn’t clearly understand what a proven process was and what it could do for us until we started the Entrepreneurial Operating System (EOS). If you are struggling to scale your organization or you have a growing team and you need a manual that you don't have to create, EOS’ proven process may just be what you need. The tools we have been using are just amazing in helping us lead, manage, recruit, and encourage people. And so, we hope it does the same for you. At the end of the day, managing is all about getting people on the same page – making sure you get their buy-in, they get it, they want it and they have the capacity for it. That's when you know you have the person in the right seat because they exhibit your core values. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: TBL Proven Process: https://drive.google.com/file/d/1NKK10WuJTlEmknH1hbBeFGPmKr2mlwgA/view?usp=sharing Book: Traction by Geno Wickman - https://amzn.to/3dwejaS Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com. | |||
| 01 Nov 2022 | 107: Year-End Payroll 2022: Completing a Year-End Checklist for January Success | 00:37:14 | |
In this episode, we're diving into all things payroll. In particular, we focus on completing a year-end checklist for January. It's simply a checklist of things you need to do before the end of the year. This is very important because payroll has very tight deadlines that you need to complete by January 31 of each year. The year-end starts before the last payroll is run for the year. Once the final payroll for the year has been run, your payroll processor like Gusto will start working on things right away. Gusto, in particular, wants you to make sure you've completed a good portion of your year-end checklist before December 27 of each year. They want to be able to file everything on time because January is such a big month, which is when you're filing the quarter-end forms and the year-end forms. Then there's another round of deadlines and dates by the 31st of the month as it relates to payroll. The farther in advance that you can start and get the process going before 12/31, the better. Everybody has a responsibility to make sure their payroll is right and companies need to make sure their employees are involved and they do their part. Finally, if you’re a business owner who doesn’t have the time for this, just remember that because you delegate doesn't mean you're not responsible for it. In this episode, you will hear:
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| 20 Jun 2023 | 138: REPLAY: Key Areas to Consider When Dealing with High Inflation for Goals-Based Planning | 00:37:22 | |
Inflation is here – and it's here to stay for a bit. Obviously, we have to deal with it, but how? In today’s episode, we discuss some things you have to think through to shield yourself from inflation, or at least mitigate its impact. Hindsight is a good teacher. And so, if you can capture those lessons and put them in your plans for your future, you're going to be better prepared when the next cycle comes around because there will be another cycle. Hopefully, you will also learn to figure out what specific information will help strengthen your ability to predict as a leader so you can steer clear of those blind curves in your business. We are all in the middle of the same hurricane. But there is hope. Inflation is going to come down and things will get better. Just do the things you need to do to get through it! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
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| 06 Dec 2022 | 112: Year-End Books 2022: Financial Closing Checklist to Put Your Year Behind You | 00:18:42 | |
Let's dive into another hot year-end topic as we discuss the financial closing checklists to put your year behind you. People need to care about having their books updated before year-end. It's not for tax reasons, but so that you can clearly see how your business is doing and make strategic decisions for you and your business along the way. You've got to get your books together. Make sure all of your income and expenses are represented properly. And if you're an S Corp, an LLC S Corp, or a C Corp, make sure you've got reasonable compensation, you're handling all of your benefits properly, and those are properly categorized. You've got to have a few key things nailed down such as income, costs, expenses, the dreaded balance sheet, etc. As we always say, the best work is done when the books are done – and it's for a lot of reasons! Ultimately, the process you'll use is the best process for you. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Pocket More Profit Master Class Stress Less Tax Prep Master Class Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com. Let them know we sent you. | |||
| 23 Feb 2021 | 043: 2020 Tax Update - State’s Choice on Deductibility for Paycheck Protection | 00:18:02 | |
This episode is BREAKING NEWS related to the 2020 tax update regarding the choice of states on the deductibility for paycheck protection. We feel it's important to get the word out because this is one of those little hidden minefields that nobody knows about. And frankly, your tax preparers, accountants, or advisors may not even know about this. After all, there's just so much to know. So here it is... Most states all follow the actual federal guidelines for the Paycheck Protection Program. However, there are some states that are not following the federal steps for tax with regards to the Paycheck Protection Program. The paycheck protection program has been able to help online businesses and other small business owners survive and be able to continue their businesses. We don't want this update to dampen anybody's spirit. So don't let this deter or derail you – just start having conversations if you're in one of these 10 states we’re going to mention today! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 20 Dec 2022 | 114: REPLAY: Quarterly & Annual Planning EOS Style | 00:43:19 | |
At The Bottom Line®, we’re following the EOS (Entrepreneurial Operating System) style where we break our annual planning down into 90-day segments to make sure that we’re still aligned with our annual goal. Now, the bigger the goal is, the more you can lose focus. If the goal feels too big, it can get overwhelming to the point that your productivity suffers. EOS teaches you how to compartmentalize and break down your goals into 90-day steps so they become more achievable. Most importantly, you’ve got to do this in a way that’s aligned with you and your gifts. Otherwise, you won’t be able to leverage your strengths with the right people in the room and your efforts won’t be as fruitful as they could be. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 18 Oct 2022 | 105: Discovering How to Live Your Ideal Entrepreneurial Life | 00:45:51 | |
What kind of entrepreneurial life do you want? Many people loosely exchange words like freelancer, sole proprietor, small business owner, and entrepreneur but really, they’re not the same. Entrepreneurship is a long journey and has its different seasons. For instance, you may have been freelancing for a while to get some extra money on the side. Then you probably caught the entrepreneurial bug and decided to make it official and become a sole proprietor or a single-member LLC, which eventually turns into a small business. Indeed, there are levels of entrepreneurship. You can be small and still be entrepreneurial. The question is, are you loving and truly living the season you’re in right now? Today, we’re doing an off-the-cuff book review of “The EOS Life” by Gino Wickman. He wrote this book to cast a vision for the visionary, the business owner, the entrepreneur, the operator, or whoever is trying to figure out what it is they wanted. It's important to understand where you're at in your season and journey and what that needs to look like. Regardless of where you are on the spectrum, today is the day to start moving the needle toward where you really want to go. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 13 Apr 2021 | 048: HR Basics For Your Virtual Team with Tameaka Shelton | 00:43:17 | |
What's the cost of protection worth to you? If you're a growing business, and you're involving people in it – even if it's just you and five others in your team, or whether it's virtual or physical – there are a lot of things to navigate around the HR world. Today, Tameaka Shelton of Employ and Relate helps us break down some HR basics that you need to get covered so you can bulletproof yourself and your business in the event of an audit. In fact, this is a foundational thing that small businesses should do when dealing with a virtual team because what you don't know could cost you a lot of money. Therefore, you have the responsibility as a business owner to be as compliant as possible to lessen the risks and keep your hard-earned money. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: https://www.profithero365.com/Tameaka Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 15 Mar 2022 | 080: Getting Your House In Order Before Something Unfortunate Happens | 00:13:46 | |
We are not promised tomorrow. If you died or were disabled, how much would your loved ones have to invest in figuring everything out while they're also grieving your loss? If you're an entrepreneur or a business owner and you have children, having a last will and testament is one of the things you need to prioritize. You want to make sure your assets are treated the way you want and that all those things flow while people are also trying to send you off to your "next" adventure. In today’s episode, we're going to talk about how you can be as prepared as possible for when bad things happen as well as some things you should be thinking about earlier or sooner than later. A lot of people love to push this topic off because it's tough, but it's a very important, practical conversation to have. It's important to be proactive because this is one area that families tend to fight about. If you can set things up to dictate how your assets are going to go and flow, then that takes it out of the hands of your children and your family, so there's less fighting. The more complicated your situation is and the more assets you have, the more you’re probably going to need an attorney. Now, you may have the best intentions but intentions are not legal. And so, your best intentions could go by the wayside if you die before they're instilled. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Mama Bear Legal Forms - Last Will & Testament Mama Bear Legal Forms - Young Adult Power of Attorney Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 16 May 2023 | 135: REPLAY: How To Attract New Clients & Set The Right Expectations From The Start | 00:27:17 | |
How can you attract new clients and make sure you’re the right fit for each other? There's so much to talk about when it comes to client onboarding, and part of that is learning how to attract new clients and set the right expectations from the start. A partnership is a two-way street, which means your clients also need to know how they can help you serve them better. The magic happens when there’s transparency and you’ve set those expectations upfront. When you get dialed in because people are looking for an accountant or a tax person, those are not relationships that people just walk out of all of a sudden. Otherwise, they’re leaving for two reasons. Either they didn't feel served, or they just couldn't afford you anymore. Ultimately, a partnership is similar to marriage – you have to be in it for the long haul. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
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| 11 Jan 2022 | 072: Key Tax Deadlines For 2022 | 00:35:20 | |
In this episode, we talk about 2022 tax deadlines. Everyone should know when they need to file their taxes and pay their estimated taxes. If you show up with your accountant or tax pro on the day you have to get your tax return done, you're probably already too late to get it done in time. So, today we're going to break things down to the basics. We want to bring out all this information so you will stop acting like the IRS is your boss. We want to protect you in a way where you don't overpay and know where to be and when you're supposed to be there. If you're a partnership or an S-corp, we highly recommend doing the Profit First. It gives you a tax vehicle to save money on your taxes so you don't end up getting stressed out when payment deadlines come and actually have the money to pay for it. That's the beauty of tax planning and being in a relationship with a team that wants to be your partner and your protector, which we do at The Bottom Line. We help you see around blind corners and walk through these kinds of things because we see them all the time. Finally, taxes can be very stressful but you shouldn’t let them paralyze you. Don't let taxes create blame, shame, or guilt because that will not serve you. You're up to big things and you're doing big things. This is just part of the entrepreneurial journey. Learn as you go so you can streamline things and create processes. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: For those who need the deep dive breadcrumbs from the IRS, you can pour over the details at https://www.irs.gov/publications/p509 and https://www.irs.gov/businesses/small-businesses-self-employed/online-tax-calendar 2022 Tax Dates: https://www.ineomobility.com/2022-tax-dates-important-irs-deadlines/ Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 27 Sep 2022 | 102: Establishing Financial Scorecards to Build & Grow Your Financial Confidence | 00:59:23 | |
Maybe you're wondering what data you should be paying attention to, and what KPIs or metrics should you be doing. There are numbers that give you safety and those are the numbers you’re drawn towards. Then there’s also data that can be challenging and frustrating. And so, you just don’t like dealing with those kinds of numbers. There are so many pieces to financials and financial numbers, and the things that impact those numbers. We do understand that it can be very daunting and overwhelming. But you also have to understand that you have to know your numbers. You've got to fall in love with data without judging yourself in the process of it. Today, we talk about numbers. Learn how to establish your financial scorecards to build and grow your financial confidence. If you find yourself in a season of not feeling stable or you can't see around blind corners, if you're worried about debt and you're concerned about your tax bill, then that's what your financial scorecards are supposed to start helping give you confidence in. The more confidence you have about what's happening, the more you can start to predict. At the end of the day, growth is the goal. And not having a three-dimensional perspective of profit, tax, and cash flow can hurt you when it comes to your finances. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Entrepreneurial Operating System Episode 101: Back to The Basics Checklist to Achieve Breakthrough When You Are Stuck Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 07 Sep 2021 | 060: Culture That Champions Cybersecurity | 00:36:17 | |
With the increase of cyber-attacks in our world today, it’s no longer a matter of if but when. Don’t think IT stuff is only for big companies; it’s for everybody. Whether it’s through identity fraud or an information breach, getting your security and your company’s security compromised could cost you everything you’ve worked for. Chris Mahler, CPA, is back on our episode today. We dive into the topic of creating a culture that champions cybersecurity as an integral part of reimagining entrepreneurial success. People trust us with a lot of information and data and we have to champion protecting it. Whether you're doing business online or virtually (or have an e-commerce business), we're covering some topics today that you probably haven’t thought about and that you can bring to your business. As a business owner, you need to elevate your company in protecting your name and reputation. You can do this by addressing the internal security aspect and protecting the assets of your clients, especially their identification and cyber assets. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Episode 016: Insurance and Protecting Your Online Business with TIS: www.profithero365.com/016-insurance-and-protecting-your-online-business-with-tis/ Lastpass: www.lastpass.com/ Computer Depot of Knoxville, TN: www.computerdepotonline.com/ Entrepreneurial Operating System Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 09 May 2023 | 134: REPLAY: How to Help Kids Build Wealth with IRAs | 00:31:00 | |
If you are a small business owner with children, putting your kids to work in the business is a great way to start helping them navigate some financial decisions. You’ve got to teach them to put money on the strong side of the table and one of the ways to do that is by getting them to invest in a Roth IRA. A lot of people struggle with financial literacy and it's important to start teaching and training your kids how to understand and utilize money while they're still young. In this episode, learn how you can help your kids build wealth with IRAs. Find out what they need to do to set up their own retirement account, how much they need to contribute, and the benefit of doing a Roth IRA. Finally, take a look at the compounding effect of a Roth IRA that will hopefully inspire your kids to start investing today. No age is too young and no amount of money is too small. You can make a big difference in your kids’ lives by encouraging and empowering them to build wealth through IRAs. No matter your kid’s age, it’s important you get them started now. It has to start with the right education and mindset. Learn how you can help your kids build their future today! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
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| 28 Dec 2021 | 071: How to Master Cash Predictions Through Budgets | 00:32:44 | |
Most small businesses fail because they no longer have the cash to continue. And if you're growing a business, you've got to keep everybody on the same page and have the tools in place to drive extreme clarity. In this episode, we're going to talk about how to master cash predictions through budgets. As a business owner, you have to get good at predicting. By putting the right systems and processes in place, you’re able to make more accurate and faster predictions, especially that predicting cash through a budget could be painful the very first time you do it. We have been doing the Entrepreneurial Operating System (EOS) for more than 18 months now and we're six quarters in. EOS is a powerful operating system based on the book “Traction” by Gino Wickman. It talks about five leadership abilities in growing an organization, and one of them is getting really good at predicting – be it in finance, cash flow, and even with tax. Although you never know what will happen until you get there, you have to predict, at least, based on some assumptions that will drive and create value in your organization. Through the power of the EOS and how it has helped us evolve as leaders and owners, we now understand that the greatest skill and value we can bring to our organization is the fruit of predicting well. Predicting is the way to drive and create value in your organization – and your finances are no exception. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Traction by Gino Wickman https://www.amazon.com/Traction-Get-Grip-Your-Business/dp/1936661837
Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 01 Feb 2022 | 075: Common Retirement Plans for Small Businesses in 2022 | 00:24:40 | |
If you still haven’t been planning for retirement, there’s no better time to start than now. Maybe you're a spender and not a natural saver or maybe you're too much of a saver and don’t spend money when you should. Either way, this can cause issues down the road because there's a difference between spending, investing, and stewarding. Whether you have a spending problem, you haven't been brought up to prioritize planning for retirement, or you lack education on all of this, you can always start now. Today, we're going to dive into the common retirement plans for small businesses in 2022. We hope to inspire you on what you can do right now and with exactly what you have to plan for retirement and save on taxes. Before we get into the technical stuff, don't come with a mindset that you have to have a retirement plan because you're using it as a measuring stick of your worth. People have different sets of circumstances than you and they're prioritizing things differently than you at this point. Retirement is the least of many people’s worries. Maybe there's a reason why this hasn't been part of what you've done up to this point. However, when it's the right time for you, it will be the right time for you, even as a business owner. The least you can do is to equip yourself with some knowledge right now so you can use it whenever you're ready. Just listen to this episode with an open mind because even the smallest movement in this area will make a big impact on you down the road. It's never too early. No amount is too small. Start the process. And don't do it alone! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: 2021 Common Retirement Plans for Small Business Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 29 Jun 2021 | 053: Paycheck Protection Program Deadlines June 2021 | 00:14:32 | |
The pandemic is not over. Even in this post-pandemic world, small businesses are still feeling the impact of it. In order to help alleviate the pains of many small businesses, the government created the Paycheck Protection Program. But there are deadlines associated with it as well. In this episode, we're going to dive into Paycheck Protection Program Deadlines (June 2021 edition) and what people need to know about it if they've not yet walked through forgiveness. There's a big deadline coming up for paycheck protection forgiveness and the forgiveness aspect of this program is what has made it incredibly attractive for small business owners in particular. If you don't get it forgiven, it basically turns into a loan. This was everyone's fear when it initially rolled out. Therefore, it’s important to know what those deadline dates are. So don't miss this opportunity and tune in now. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 19 Oct 2021 | 065: Top 12 Questions When Hiring An Accountant | 00:43:14 | |
Year-end is the perfect time to decide if you're with the right accounting partner. In this episode, Ashley Travis, our digital marketing person at The Bottom Line CPA, joins us to talk about the top 12 questions you should consider asking when it's time to hire an accountant, tax preparer, or accounting team for your business. Ashley pulled these 12 questions together based on the things we get asked all the time here at The Bottom Line and on some things that she saw people from other communities asking. These are not easy conversations to have but they're necessary and crucial. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Top 12 Questions When Hiring An Accountant Top 50 Tax Deductions for 2021 Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 01 Mar 2022 | 078: Topics to Discuss During Your Annual Shareholders Meeting | 00:24:14 | |
If you have a limited liability company, an S Corp, a C Corp, a partnership, or anything that's formal and a legal entity, you need to hold an annual meeting in your business and document certain things that have been decided. In this episode, we will give you a framework to think about for your next annual shareholders' meeting. The first quarter of the year is an excellent time to host this meeting because a lot of times, it's an opportunity to prove the financials for the prior year along with any decisions you've made for the current year. Then you're documenting those decisions through your meeting minutes which matters a lot to the IRS. Your business is not you. It's a separate entity, and the IRS sees it as separate from you. So you must do this as an agreement between you and your company. This lets the IRS know that you understand what you're doing and that you're treating it that way so you're not breaking that "corporate veil." If you don't do it, it could very well harm you with your taxes and your legal entity because the IRS could see it as a fault or a breach. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com. Let them know we sent you. | |||
| 13 Sep 2022 | 100: Celebrating Our First 100 Episodes of The Pay Play Profit Podcast | 00:47:32 | |
Here at The Bottom Line®, we’re always celebrating our wins, big and small – and today, we’re celebrating our first 100 episodes of The Pay Play Profit Podcast! If you think running a podcast is easy, well, it’s not. Launching a podcast is just half of the battle. The other half is making sure we’re releasing something valuable each week, and that requires a lot of dedication. That’s why it pays to have a partner who can keep us accountable. As they say, “it takes a village” – and that includes producing a podcast too. We believe partnerships fuel transformation. In this episode, we recall our top five episodes of all-time as well as our personal favorites. We’re also sharing some tips if you’re thinking about doing a podcast. One of the things we learned is that you don’t have to release an episode every day. Whether you do it every week or twice each month, consistency is key! If you’re looking to truly connect and move the needle for someone, then maybe podcasting is worth a try. At the end of the day, it's a profit decision. And as what we always mention here over and over – every decision is a profit decision, and profit is measured in time, energy, and money. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Our Top Five Episodes of All Time:
Our Personal Favorites:
Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 21 Feb 2023 | 123: REPLAY: Our 32-Hour Workweek | 00:39:48 | |
Profit is measured in time, energy, and money – but how do you achieve a triple win on all three? Here at The Bottom Line, we have made a profit decision to shift from the usual 40 hours to 32 hours per week. We’re working towards making it our full-time standard, even during tax season. In other words, we want to get more done in less time. Part of our vision is to create an environment where people come in motivated, inspired, and feel like they are part of a culture bigger than themselves. Perpetuating a 40-hour work week isn't something we want to do. We want to prioritize rest as much as we prioritize hard work. And we also want to prioritize play as much as we want to prioritize hard work. We also realized that once you’re able to create a container about what you want your business to look like in three years, from the day that you cast that vision, you’re able to set some goals and take the necessary steps to make your goals come into fruition. In this episode, we’re going to share with you how we’re currently executing our shift to a 32-hour workweek, where we are on this journey, how we’re making the transition without drastically impacting our operations, and some big lessons we’ve learned along the way. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Entrepreneurial Operating System (EOS) Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 25 May 2021 | 052: Discovering Who You are as an Online Entrepreneur with Katie Chase | 00:37:18 | |
Do you feel like you’re a square peg in a round hole as an entrepreneur? Many times, we think we have to get it all figured out right away. Then, we think we have to stay exactly the same as who we were the day we started. If our business doesn't look like it was supposed to look when we set out to start it, we view that as a failure. In today’s episode, Katie Chase shares how her entrepreneurial journey revealed to her where her strength truly lies. Just because you start somewhere doesn't mean that’s where you have to end. It’s not a failure if you eventually realize that the business you've been building is not the business you should be working in. If you, too, feel that way in your business, then it's probably time to do a heart check and let Katie’s story inspire you. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: RocketFuel by Gino Wickman + Mark Winters: https://amzn.to/3kbwdCA Traction by Gino Wickman: https://amzn.to/3dwejaS Bobby Klinck’s podcast: https://bobbyklinck.com/podcasts/ Episode 36: Visionary and Integrator 411 Gift Exchange: https://www.profithero365.com/036-visionary-and-integrator-411-gift-exchange/ Episode 47: Online Legal Basics with Bobby Klinck: https://www.profithero365.com/047-online-legal-basics-with-bobby-klinck/ Kolbe Instinctive Strengths Assessment: https://www.kolbe.com/kolbe-a-index/ Xero Accounting Software: https://www.xero.com Gusto Payroll: https://gusto.com/ Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 02 Mar 2021 | 044: How to Reimagine Entrepreneurial Success for Longevity | 00:29:24 | |
Leadership, in general, is under attack right now. And as a leader, it's time for you to start reimagining entrepreneurial success so you can continue to serve and make a difference in the world. This episode draws inspiration from Craig Groeschel, a pastor, a dedicated leader, and author of the book, Winning the War in Your Mind: Change Your Thinking, Change Your Life. He came up with this training called How to Last in Ministry and in his presentation, he mentioned 10 essential points leaders should live by every single day. It also makes perfect sense how Craig’s teachings can be translated into how you can reimagine entrepreneurial success for longevity. And so, we thought of sharing our insights with you because your faith will always be tested as a leader. But it’s in how you get back on your feet – backed up by faith – that ultimately matters in the end. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: EOS: https://www.eosworldwide.com/ Inspiration for this podcast came from the following resources: The Craig Groeschel Leadership Podcast: https://www.life.church/leadershippodcast/ Winning The War In Your Mind by Craig Groeschel: https://www.craiggroeschel.com/books/winning-the-war-in-your-mind Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 26 Jan 2021 | 041: Your Ideal Teammate with Trivinia Barber | 00:37:06 | |
You’ve probably mastered knowing your customer avatar, but have you taken the time to really figure out who your ideal teammate is? Imagine, this is somebody you’re going to spend 2 to 10 hours a day, depending on the season of life you're in with this person. You’ll perhaps engage with them more than you do your partner or your children sometimes. And yet, people make these decisions on who they're going to hire based off of a 30-minute interview. In today’s podcast, Trivinia Barber, founder of Priority VA, talks about the value of an executive assistant, and how we, as business owners and entrepreneurs, need a right-hand person in our life. It's a great profit decision that will have a return on in terms of time, energy, and money. Trivinia Barber is the founder of Priority VA where they match executive assistants with entrepreneurs all around the globe. She started the company as a result of her own problem as a former executive assistant herself. Now, her company is focused on executive assistants and helping them get placed with high-level clients who understand the value of a team member and that they can only get as far as they can go with a team they can trust.
In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it.
The Ideal Teammate Avatar Training Episode 40: Setting Pay Play Profit Goals for 2021
Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 27 Apr 2021 | 050: Email Marketing for eCommerce with Chris Orzechowski | 00:34:39 | |
Are you scared of emailing people just because you think you’re going to bother them? Whether you’re still new to ecommerce or you’re scaling to grow your brand, it’s crucial that you know how to run email marketing campaigns effectively. Today, email copywriter Chris Orzechowski talks about why having an email marketing campaign is one of the keys to your success as a business owner. Chris skipped his day job as a school teacher to focus on email copy, something he has always enjoyed. He loves working on campaigns as well as seeing how a simple 500-word email can make tens of thousands of dollars or how kicking off launch campaigns can end up bringing in millions of dollars. Now, he has become a master at his trade and does wonderful work to support ecommerce and small businesses. His agency revolves around helping ecommerce business owners grow their brands and grow their revenue through automation. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: https://www.profithero365.com/ChrisO Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 14 Feb 2023 | 122: REPLAY: Getting Your House In Order Before Something Unfortunate Happens | 00:14:33 | |
We are not promised tomorrow. If you died or were disabled, how much would your loved ones have to invest in figuring everything out while they're also grieving your loss? If you're an entrepreneur or a business owner and you have children, having a last will and testament is one of the things you need to prioritize. You want to make sure your assets are treated the way you want and that all those things flow while people are also trying to send you off to your "next" adventure. In today’s episode, we're going to talk about how you can be as prepared as possible for when bad things happen as well as some things you should be thinking about earlier or sooner than later. A lot of people love to push this topic off because it's tough, but it's a very important, practical conversation to have. It's important to be proactive because this is one area that families tend to fight about. If you can set things up to dictate how your assets are going to go and flow, then that takes it out of the hands of your children and your family, so there's less fighting. The more complicated your situation is and the more assets you have, the more you’re probably going to need an attorney. Now, you may have the best intentions but intentions are not legal. And so, your best intentions could go by the wayside if you die before they're instilled. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Mama Bear Legal Forms - Last Will & Testament Mama Bear Legal Forms - Young Adult Power of Attorney Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 23 May 2023 | 136: REPLAY: Discovering How to Live Your Ideal Entrepreneurial Life | 00:46:08 | |
What kind of entrepreneurial life do you want? Many people loosely exchange words like freelancer, sole proprietor, small business owner, and entrepreneur but really, they’re not the same. Entrepreneurship is a long journey and has its different seasons. For instance, you may have been freelancing for a while to get some extra money on the side. Then you probably caught the entrepreneurial bug and decided to make it official and become a sole proprietor or a single-member LLC, which eventually turns into a small business. Indeed, there are levels of entrepreneurship. You can be small and still be entrepreneurial. The question is, are you loving and truly living the season you’re in right now? Today, we’re doing an off-the-cuff book review of “The EOS Life” by Gino Wickman. He wrote this book to cast a vision for the visionary, the business owner, the entrepreneur, the operator, or whoever is trying to figure out what it is they wanted. It's important to understand where you're at in your season and journey and what that needs to look like. Regardless of where you are on the spectrum, today is the day to start moving the needle toward where you really want to go. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 17 Dec 2021 | 070: TBL Team Thanksmas 2021 Highlights | 00:30:37 | |
In this episode, the entire team at The Bottom Line CPA joins us to share our Thanksmas highlights. We spent a lot of time and energy having fun together and wanted to give you a glimpse into our world and what's happening behind the scenes. It was nice that, for this one day, we just focused on building relationships with one other. All of us took our work hats off and just relaxed and opened up. Everybody was in their element: we weren’t necessarily grinding to get things done but were just free and happy. Simply, we were celebrating the human side of things. Celebrating Thanksmas is a worthy thing to engage your team in. As your team works hard for the company, it’s important to always show them how much you appreciate them. One of the ways you can show appreciation is to spend the entire day getting to know each other better, especially if you’re a virtual company. There are a lot of companies out there that don't take the time to do things like this and it shows. The key is to make your people feel like they’re a great team because they truly are! Our greatest hope is for you to also spend time reflecting on and celebrating all the things that you did in 2021, whether you reached your goals or not. It can't always be about achievements. Celebrating Thanksmas is one small way to build trust as a team, to stay healthy as a team, and to celebrate all the highs and lows that have come along the way. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 12 Apr 2022 | 084: How to Help Kids Build Wealth with IRAs | 00:30:25 | |
If you are a small business owner with children, putting your kids to work in the business is a great way to start helping them navigate some financial decisions. You’ve got to teach them to put money on the strong side of the table and one of the ways to do that is by getting them to invest in a Roth IRA. A lot of people struggle with financial literacy and it's important to start teaching and training your kids how to understand and utilize money while they're still young. In this episode, learn how you can help your kids build wealth with IRAs. Find out what they need to do to set up their own retirement account, how much they need to contribute, and the benefit of doing a Roth IRA. Finally, take a look at the compounding effect of a Roth IRA that will hopefully inspire your kids to start investing today. No age is too young and no amount of money is too small. You can make a big difference in your kids’ lives by encouraging and empowering them to build wealth through IRAs. No matter your kid’s age, it’s important you get them started now. It has to start with the right education and mindset. Learn how you can help your kids build their future today! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 07 Feb 2023 | 121: REPLAY: Topics to Discuss During Your Annual Shareholders Meeting | 00:25:02 | |
If you have a limited liability company, an S Corp, a C Corp, a partnership, or anything that's formal and a legal entity, you need to hold an annual meeting in your business and document certain things that have been decided. In this episode, we will give you a framework to think about for your next annual shareholders meeting. The first quarter of the year is an excellent time to host this meeting because a lot of times, it's an opportunity to prove the financials for the prior year along with any decisions you've made for the current year. Then you're documenting those decisions through your meeting minutes which matters a lot to the IRS. Your business is not you. It's a separate entity, and the IRS sees it as separate from you. So you must do this as an agreement between you and your company. This lets the IRS know that you understand what you're doing and that you're treating it that way so you're not breaking that "corporate veil." If you don't do it, it could very well harm you with your taxes and your legal entity because the IRS could see it as a fault or a breach. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 06 Apr 2021 | 047: Online Legal Basics with Bobby Klinck | 00:37:56 | |
Are you fond of using images, memes, and GIFs on your website? FYI: All of those things are copyrighted. So if you're using those in your business for a commercial purpose, you're almost certainly violating someone's copyright and you're putting yourself at risk. And that could mean being charged thousands of dollars! People have also been fed this notion that all you need is an idea and a laptop and you can make money. But you’ve got to understand enough about your money and about the legal stuff to avoid problems down the road. In today’s episode, Harvard lawyer turned online entrepreneur, Bobby Klinck, shares some online legal basics to help you protect yourself so you can have a lasting business – because what you don’t know might just hurt you. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 20 Apr 2021 | 049: Membership Mastery with Shane Sams | 00:47:42 | |
Is your online business paying you $1 an hour – worse than your previous job? Are you tired of selling online courses that you’re not even sure someone is going to buy or perhaps you’ve already reached your peak? If you’re at a point in your online business right now where you feel stagnant or stuck and you’re trying to figure things out, consider the power of a membership model. Every decision is a profit decision and profit is measured in time, energy, and money. In today’s episode, Shane Sams joins us to talk about how he transitioned from being a school teacher into an online business owner and why he eventually tapped into the power of the membership model. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: https://www.profithero365.com/FLSPodcast https://www.profithero365.com/FlippedLifestyle https://www.profithero365.com/MembershipMasters https://www.profithero365.com/040-setting-pay-play-profit-goals-for-2021/ Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 19 Jan 2021 | 040: Setting Pay Play Profit Goals For 2021 | 00:39:20 | |
Are you in a money-in, money-out situation that you’re still not paying yourself in your business? Remember, you’re running your business – not the business running you. A lot of people have the passion and the mission of their business. But if you're not paying yourself, something's not right. The beauty of Profit First is that you start paying yourself. Our core focus as an organization is to help you reimagine entrepreneurial success with simple, practical, powerful solutions. And we feel like the way to measure that success can be in the form of pay play profit. Today, we're giving you a glimpse of what your goal-setting process should be for 2021. Now is the time to create your own Pay Play Profit and create goals that fit into each of those categories. Or you may already be doing it, but you just don't know how to compartmentalize stuff. We highly recommend you make this a cornerstone of your life and you’ll be surprised by how much you will mature as a business owner. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Profit First by Mike Michalowicz Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 26 Apr 2022 | 086: Planning Your 2022 Summer Sales Success | 00:45:21 | |
Oftentimes, as business owners and entrepreneurs, we look forward to summers as a time for play and vacation. But if you can get your ducks in a row early, then you have the time to take a summer vacation and really enjoy it without worrying or wondering about whether you're hitting your goals. If you prepare and put those in motion now, then you'll be able to breathe easier in the summer. And if you think April is a little too late for the summer sales party, well, there's still time to tweak some things to set yourself up for success. In this episode, we're going to talk about five things you can do to prepare for your summer success. We specifically look at what you need to do when it comes to your data, outcomes, goals, tracking, strategy, and capacity. Start learning to become proactive because what you build today creates what you own tomorrow! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 08 Mar 2022 | 079: How HSAs Benefit You Now and At Retirement | 00:16:49 | |
Can you make a deductible contribution to an HSA (Health Savings Account)? Will the distribution in the HSA be tax-free or penalty-free? In today's episode, we're sharing these two flowcharts which you can use as a tool to help determine if this is going to be the right path for you to implement for yourself personally, or in your business (for yourself and your employees). This is only a 30,000-feet view because there are a lot of people involved before you actually buy into this decision. We’re talking about your insurance company, tax professional, and even your financial planner. If you feel like this doesn't apply to you, then just think again. It's always good to be prepared for when it does. And so, the point of our podcast today is just to inform, educate, maybe inspire you to think beyond your working years, and how a tool like an HSA might benefit you now, and at retirement. If you have medical issues or if you need another investment strategy because you're relatively healthy, the HSA is a nice little vehicle that you can add to your long-term planning and your retirement in the future. There's something you can do to take care of yourself and your people. And if you're scared or intimidated about taking care of people, just think about how that's not allowing you to grow. That being said, it's never too early to start to think about the long-term plan because we are all aging every single day. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Gusto for Payroll - https://gusto.com/?referral_token=tbl283&utm_source=inapp HSA 2022 Flowchart on Tax and Penalty-Free Distributions.pdf - https://drive.google.com/file/d/1zubM_lPTh9PNIwvZpYVFE7TmOudAvHiv/view?usp=sharing HSA 2022 Flowchart on Deductible Contributions.pdf - https://drive.google.com/file/d/1wc68uPDZz6otRjz8x8-S2xQLiMxsvRjE/view?usp=sharing Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 14 Mar 2023 | 126: REPLAY: Quarterly & Annual Planning EOS Style | 00:43:15 | |
It's almost Thanksgiving! It's also a great time of year to understand what quarterly and annual planning should look like because, as an entrepreneur, you want to schedule your success and not lose traction. At The Bottom Line®, we’re following the EOS (Entrepreneurial Operating System) style where we break our annual planning down into 90-day segments to make sure that we’re still aligned with our annual goal. Now, the bigger the goal is, the more you can lose focus. If the goal feels too big, it can get overwhelming to the point that your productivity suffers. EOS teaches you how to compartmentalize and break down your goals into 90-day steps so they become more achievable. Most importantly, you’ve got to do this in a way that’s aligned with you and your gifts. Otherwise, you won’t be able to leverage your strengths with the right people in the room and your efforts won’t be as fruitful as they could be. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 04 Apr 2023 | 129: REPLAY: 10 Common Bookkeeping Mistakes You Should Know & Understand | 00:30:49 | |
The health of your accounting and your book starts with the health of your chart of accounts, which is basically an accounting terminology that refers to a list of categories including income, expenses, and liabilities. If your business is extremely consistent in how it’s spending money, what it spends money on, and how it receives money, then you can make sound decisions over the course of 90 days. This is data coming out of the accounting system that you can trust. You need to be able to produce quality data because without excellent data and you don't have the facts you need, you can't make the best profit decisions. At the end of the day, your chart of accounts is something you should absolutely know and understand. In fact, it should be a great training tool you can introduce to your team. It should also be a tool for communication between you and your accountant, your tax pro, or whoever is involved in your finances. S don't underestimate the power of a great chart of accounts. In this episode, we dive into the 10 common bookkeeping mistakes you should know and understand as an entrepreneur. This is an important and relevant topic, even if you don't like bookkeeping because it will give you insights into what you should be paying attention to when laying the foundation in your business in terms of your bookkeeping and your accounting. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 07 Jun 2022 | 091: Using The Safe Harbor Method for Quarterly Estimated Tax Payments | 00:20:12 | |
June 15 is just around the corner, which means there’s another quarterly estimated tax payment due. Just a quick recap, the estimated tax payments are due in January, April, June, and September. (With January 15 as the fourth estimated tax payment since it's for the Q4 of the prior year's estimated tax) Quarterly estimated tax payments refer to money owed to the IRS to help make payments against the tax liability you're going to file for on April 15 or your extended deadline respectively. Unless you have a liability of less than $1,000, the IRS expects you to make payments along the way. This is in addition to your deputy payroll withholdings if you have a salary. When you're on the payroll for W-2, those things are being held from your paycheck, then sent off by your employer, and paid along the way. When you're self-employed or have additional tax above what's being withheld, they want to see you making quarterly estimated tax payments. Ultimately, it is your responsibility as a taxpayer to understand estimated tax payment liabilities and make those payments. This is not a burden that you have to carry alone as you can share the burden with the right tax pro. Still, it’s important to understand that it is your responsibility. And if you didn't pull it off the way you'd hoped in the current tax year, don’t worry as there's another one coming. And as you keep practicing and refining your process, you will eventually get into the rhythm that works for you. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 25 Jan 2022 | 074: Scheduling Your Success With Time Off In 2022 | 00:42:46 | |
When was the last time you took a day off? It's every entrepreneur's dream to have the freedom, flexibility, and discretion to take time off whenever they want. A lot of entrepreneurs want that freedom but they never get around to taking it. As we get older, we need time off even more than we did when we were younger. We also need to play more than ever. After all, what’s the point of hustling so hard if we're not taking the time to play and rest? Today, we dive into scheduling your success with time off in 2022. You're in a business to grow. You're in a business to do big things. Therefore, time off should be your thing. When you are in a leadership role, there are even more reasons for you to care of yourself. If you enjoy work and taking time off isn’t your idea of freedom, then choose what freedom looks like to you. Use this time to identify what it is you want to do, what it is you want to work on, and how you want to grow this year. Just to put things in perspective, there are no emergencies in accounting. It's not life and death stuff physically, though it can be emotionally and mentally. You have to figure out how to play both sides. Ultimately, you can’t define your success by what you accomplish. You're worth it just because of who you are. That alone is enough reason for you to take care of yourself. If you don't think you need it, just try to reconsider. What you do in your time off can vary; regardless, you need that pause button to regenerate yourself. You just have to start small and start somewhere. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 23 Nov 2021 | 067: Quarterly & Annual Planning EOS Style | 00:42:40 | |
It's almost Thanksgiving! It's also a great time of year to understand what quarterly and annual planning should look like because, as an entrepreneur, you want to schedule your success and not lose traction. At The Bottom Line CPA, we’re following the EOS (Entrepreneurial Operating System) style where we break our annual planning down into 90-day segments to make sure that we’re still aligned with our annual goal. Now, the bigger the goal is, the more you can lose focus. If the goal feels too big, it can get overwhelming to the point that your productivity suffers. EOS teaches you how to compartmentalize and break down your goals into 90-day steps so they become more achievable. Most importantly, you’ve got to do this in a way that’s aligned with you and your gifts. Otherwise, you won’t be able to leverage your strengths with the right people in the room and your efforts won’t be as fruitful as they could be. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Top 50 Tax Deductions for 2021 Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 05 Aug 2021 | 055: Understanding the 2021 Child Tax Credit | 00:23:16 | |
In this episode, we talk about the 2021 Child Tax Credit and give you a baseline on what this credit is and what it isn't. The Child Tax Credit has existed since the 1990s but just this year, President Joe Biden put forth the Advanced Child Tax Credit as part of the American Rescue Plan. Today, we’re going to discuss some of the changes and adjustments that have been made. Our role on this podcast is to help you see around blind corners and help you know what you don't know. We want you to understand the advanced portion of this tax credit so you won't be surprised when it comes time to actually file your return. We’re also dispelling some of the myths that have been going around so you can be better informed and use this knowledge as part of your tax strategy. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 23 Aug 2022 | 097: Direct Costs vs. Expenses & Why You Should Care About Knowing The Difference | 00:27:07 | |
The best profit decisions are happening with your time, energy, and money, which means more pay, play, and profit in your business and life. And a huge part of that is understanding your financials. Your financials are three-dimensional – profit, tax, and cash flow. You also need to think about direct costs versus expenses in all these three dimensions. “Direct cost” refers to the cost directly tied to your sales. You incur them directly with your sales. “Expense” refers to the operation cost. These are the things you do and spend money on that are not directly tied to the sales. Everything you spend obviously supports the sales but they're not directly tied to the sale. Now, the IRS has a very defined structure on how they want to see your costs and expenses filed on the tax return. This is part of the tax compliance. Today, we're going to dive into direct costs versus expenses, and why you should care about knowing the difference. And as a small business owner, you should definitely care! Now, you have to get the foundation in place first, because if you don't understand the foundation of direct cost versus expenses, it's hard for you to navigate the three-dimensional conversation. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 31 Jan 2023 | 120: REPLAY: Top 12 Questions When Hiring An Accountant | 00:43:49 | |
Year-end is the perfect time to decide if you're with the right accounting partner. In this episode, Ashley Travis, our digital marketing person at The Bottom Line®, joins us to talk about the top 12 questions you should consider asking when it's time to hire an accountant, tax preparer, or accounting team for your business. Ashley pulled these 12 questions together based on the things we get asked all the time here at The Bottom Line® and on some things that she saw people from other communities asking. These are not easy conversations to have but they're necessary and crucial. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 09 Feb 2021 | 042: Understanding S-Corp Reasonable Compensation | 00:33:01 | |
Whether you're earning $5,000 a month in sales or $1,000 a month in sales up to seven figures in sales, we highly suggest you take the time to listen to this episode and understand some things you need to know about an S-Corp – because, ultimately, you're going to want this information, especially when we’re talking about tax savings. The amount of tax savings you can have by being an S-Corp can be very substantial. Even if you're not really ready for one now, you want to make sure that you understand it so you can pull the trigger at any point you're ready. Now, there's a misconception going around that just because an S-Corp can save you on taxes, you can just simply switch to S-Corp right away and do it by yourself. Well, it doesn’t work that way – unless you’re willing to spend thousands and thousands of dollars, which only defeats your purpose of saving on taxes. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: 028: How An S-Corp Can Save You Big Money On Tax RCReports: Reasonable Compensation Simplified Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 13 Dec 2022 | 113: Leveraging Your Core Values to Hire, Fire, Reward, and Recognize in 2023 | 00:54:02 | |
People matter, and prioritizing people has great rewards. But it comes with great responsibility and great risk that it can be daunting and overwhelming. Today, we're going to talk about leveraging your core values to hire, fire, reward, and recognize in 2023. If you're not really great at hiring because you don't hire a lot, or you've never hired before, hopefully, this episode will give you the inspiration to lay the groundwork for you to set yourself up for success. As an EOC company, clarity is one of our superpowers. Our culture is strong and our core values have helped us pull that off. And so, we want to share with you some tools that we’ve been using to help us leverage our core values in our recruitment and retention process. The company culture defines who you are as a unit. And part of creating that culture largely depends on the core values that you have created for your company, which you also have to infuse into your process. Once your core values are done well and you’re living them – that’s going to make all the difference. In this episode, you will hear: Subscribe and Review Supporting Resources: EOS® Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com. Let them know we sent you. | |||
| 08 Nov 2022 | 108: Crafting & Delivering Your Company Core Values Speech Quarterly | 00:24:33 | |
In this episode, we dive into crafting and delivering your Company Core Values Speech quarterly. How? By sharing our own core values speech at The Bottom Line. We have our core values speech that happens every quarter. And we decided to share it for you to have an idea of what our team hears every quarter. Hopefully, you will find value in it. In March 2023, we will be celebrating 10 years as a business online. In January 2020, even before the pandemic actually hit, the company was facing some big decisions. Ultimately, we decided to adopt the EOS to help us get focused and clear on what we really wanted to do. In the two years of this three-year process, we have resolved our identity crisis and we have come back home to the vision, purpose, and mission that God set us on, all those years ago. And part of the EOS process is to have a quarterly core values speech for every team member to reflect on and have a conversation around it. Our core values are the foundations that our vision is built, therefore, we have to live out these core values every day.
In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 16 Aug 2022 | 096: How to Attract New Clients & Set The Right Expectations From The Start | 00:27:01 | |
How can you attract new clients and make sure you’re the right fit for each other? There's so much to talk about when it comes to client onboarding, and part of that is learning how to attract new clients and set the right expectations from the start. A partnership is a two-way street, which means your clients also need to know how they can help you serve them better. The magic happens when there’s transparency and you’ve set those expectations upfront. When you get dialed in because people are looking for an accountant or a tax person, those are not relationships that people just walk out of all of a sudden. Otherwise, they’re leaving for two reasons. Either they didn't feel served, or they just couldn't afford you anymore. Ultimately, a partnership is similar to marriage – you have to be in it for the long haul. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 09 Aug 2022 | 095: Using An Accountable Plan To Create Tax-Free Reimbursements | 00:34:50 | |
If you're a small business owner with employees and you still don’t have an accountable plan, then now is the time to start thinking about it. In this episode, we're diving into using an accountable plan to create tax-free reimbursements – in a legal way. Every decision is a profit decision, and profit is measured in time, energy, and money, and that especially happens around your tax, your tax strategies, and your policies. And if you’re able to hit all three, this means more pay, play, and profit for you and your business! Basically, an accountable plan is a policy around how you're going to be reimbursed for expenses inside your business. One of the biggest reasons why you want an accountable plan in place is reduced taxable income and self-employment tax for the owner or the shareholder. It also allows the reimbursement to be excluded from taxable income for employees. An accountable plan is absolutely legal. If you're ever audited, then you have nothing to fear because then you've got all the structure in place. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Wine Whiskey & Sarcasm: https://winewhiskeyandsarcasm.com/ Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 14 Jun 2022 | 092: Kingdom Life, Business, and Motherhood with Elizabeth Oschwald | 00:46:48 | |
Being a mom and an entrepreneur at the same time sure comes with a lot of struggles, and at times, self-doubt. But when you’re putting in the hard work of investing in yourself and building your business with faith, everything is possible! In today’s episode, writer and entrepreneur mom Elizabeth Oschwald joins us as we discuss her journey through motherhood and entrepreneurship. Elizabeth’s life's work is being a mom, yet she also knows that building a business doesn't have to be to the detriment of her family. In fact, it only made her family stronger, being able to fulfill a purpose beyond just them. Elizabeth is the founder of The Joyful Mama, where she leads a community of moms. She also serves with MIG Living, a wonderful health and wellness company that creates an opportunity for single moms or stay-at-home moms to generate income. Elizabeth learned about kingdom entrepreneurship from an ad she saw, which stirred her spirit. It talked about the tug of war between someone who is called to ministry to work for Jesus and someone who wants to create an abundant life for their family. It spoke about how entrepreneurship was the best path to creating an abundant life and how it’s possible to blend your calling to ministry and your calling to entrepreneurship. Having walked through the journey of single motherhood herself, Elizabeth is extremely passionate about helping homeschooling entrepreneurial mothers and she continues to evolve as a kingdom builder. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 15 Feb 2022 | 076: An EOS Journey with Kevin Rogers & Rachel Mazza | 00:51:30 | |
In this episode, Kevin Rogers and Rachel Mazza share their EOS journey and how, together, they have created a rocket-fueled business. With Kevin as the visionary of Copy Chief, and Rachel Mazza as the integrator, they have clearly defined their roles, allowing them to approach their business with clarity and accountability. Created by Gino Wickman, the Entrepreneurial Operating System or EOS was based on his book Traction, which serves as the nucleus of this program. The EOS focuses on function, not titles. It's not the label, but more about what it is that you're owning and what you're driving inside your businesses as they're growing and scaling. Instead of being focused on positions and titles, it's focused on the responsibilities and success metrics. It’s about who owns what and what numbers do those people get to obsess over. As a result, there's clarity and it gives people permission to own their seats. Ultimately, when you put who you are and the heart behind the work and the vision behind what you do, there's magic that happens in your business and your team. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Copy Chief: https://copychief.com Books Traction by Geno Wickman - https://amzn.to/3dwejaS What The Heck Is EOS by Gino Wickman + Tom Bouwer - https://amzn.to/3k58q7h Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 28 Mar 2023 | 128: REPLAY: How To Determine Accountable Plan Reimbursements For Home Office | 00:21:56 | |
The accountable plan is a policy within your company or your entity, which outlines how you reimburse yourself as an owner, employee, or shareholder-employee. And if you have team members within your business, the accountable plan is a good policy for them to get reimbursed for expenses as well. One of the ways you get compensated for your business is wages, distributions, and expenses. And so, you’ve got to know which for what and an accountable plan is a great way to get reimbursed for those expenses. But first, let’s differentiate home office reimbursements from home office deductions. Yep! Those two are not the same. The home office deduction is for the Schedule C filer, which is the sole proprietor or the single member LLC. The home office reimbursement, on the other hand, is a potential tax strategy that a corporation or partnership can use in their accountable plan. Specifically, the home office reimbursement is an expense report to reimburse the employee of a corporation or a partnership when using their home for business purposes. Now, there's a process to determine accountable plan reimbursements for your home office. In this episode, we're going to walk you through what the process would look like when it comes to handling everything. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode 095: Using An Accountable Plan To Create Tax-Free Reimbursements Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 29 Mar 2022 | 082: Financial KPIs & Data Cadences For Your Online Business | 00:42:14 | |
Whether you're starting a business or you've already been growing and scaling your business, it might get to the point where it becomes challenging to deal with the complexity of its growth, all of the things you need to measure, and keeping things simple, practical, and powerful. Reducing complexity is challenging but you can keep things simple yet powerful by having the right KPIs and data cadences in place. In this episode, we're going to dive into financial KPIs and data cadences for your online business. KPI stands for key performance indicator, which refers to the metrics that you should be hitting. Now, your company should have different KPIs that are specific to every part of your business (i.e. marketing, sales, HR, finance, etc). Today, we’re going to tackle financial KPIs. Now, data cadence simply means how often should you look at your numbers? Companies have different intervals and may do it weekly, monthly, quarterly, or annually. By having those data cadences, you’re able to stay on track most of the time and identify problems you need to solve before they become a real issue in the future. Ultimately, you have to decide on what financial KPIs you should have. This can be super stressful if you’re not sure what you’re tracking. And if you don't have the things in place to pull it, that becomes part of the problem you're trying to solve as well. The key is to track things that mean something to you. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Profit First by Mike Michalowicz Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 18 Jan 2022 | 073: 1099 Reporting & New Laws for 2022 | 00:26:40 | |
1099 in early 2022 is a hot topic. It's all over the news and the world is freaking out about 1099s. In this episode, we want to lay the foundation again and remind everyone, whether you're new or old, whether you've been in business for a while or are just getting started, what a 1099 is. We want to talk about what it's for, the basic requirements we all need to understand about 1099s, and when to report them. Remember, the IRS changes the rules all the time. They send whatever letters they want, whenever they want, and for any reason they want. They have what it takes to take what you have. This includes your sanity and peace of mind, not just your money. That’s why you're supposed to always report all your income, no matter how you earned the income or who you earned the income from. The IRS is not your boss. You shouldn’t let the IRS freak you out. At the end of the day, when those IRS notices come, it's your responsibility – it's your return, your forms, and your reporting. Tax pros and companies can help keep it all straight for you but, ultimately, you have to have a clear understanding of everything that’s happening. At the end of the day, you're going to be the one who has to stand up for it or deal with it. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources Track1099 - https://tblcpa.co/track1099 Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 11 Apr 2023 | 130: REPLAY: HR Basics For Your Virtual Team with Tameaka Shelton | 00:43:50 | |
What's the cost of protection worth to you? If you're a growing business, and you're involving people in it – even if it's just you and five others in your team, or whether it's virtual or physical – there are a lot of things to navigate around the HR world. Today, Tameaka Shelton of Employ and Relate helps us break down some HR basics that you need to get covered so you can bulletproof yourself and your business in the event of an audit. In fact, this is a foundational thing that small businesses should do when dealing with a virtual team because what you don't know could cost you a lot of money. Therefore, you have the responsibility as a business owner to be as compliant as possible to lessen the risks and keep your hard-earned money. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 22 Nov 2022 | 110: Gratitude & Giving 2022: TBL Team Gathers to Share in The Spirit of The Season | 00:40:27 | |
As part of our yearly tradition, our team is gathered here today to dive into our Word of the Year. Every year, we pick a theme that we want the company to focus on as a whole. In 2022, our theme was Shine and Be Kind. And so, today, we discuss some lessons about giving or receiving kindness that we are grateful for in 2022. We’re also sharing our individual Word of the Year for 2022 as well as the best laughs we’ve had this year. As we celebrate the season of giving, let's all be thankful and kinder to ourselves and each other in the process. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 04 May 2021 | 051: Baby Steps to Financial Projections for Your Online Business | 00:27:33 | |
When you're in the season of your business where you’re ready to scale, whether you're one person or a company of 10 or 100, you've got to start thinking about doing financial projections. However, a financial projection is not just about cash flow forecasting. There’s actually more to it than that. In this episode, we dish out the five baby steps to doing financial projections for your online business. Every business has its own ebb and flow. That’s why it’s important to have this as part of your regular process so you’re able to predict and realize your future. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: The IRS Is NOT Your Boss, So Stop Acting Like It! Book: Profit First by Mike Michalowicz Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 31 Aug 2021 | 059: What Your Tax Pro Needs To Know For Tax Planning | 00:39:04 | |
In this episode, Chris Mahler CPA joins us as we take a deep dive into what your tax pro needs to know for tax planning. We specifically touch on two parts. The first is the difference between tax planning and tax compliance. The second is the difference between basic planning and advanced planning. We want to reimagine entrepreneurial success and keep it simple, practical, and powerful. Although tax isn’t always practical, the practical part is being able to have a better understanding of what needs to be done as well as when and how it needs to be done. There’s a big difference between just thinking you're doing something for the IRS and figuring out what you need to know so you pay the least taxes as legally possible. With that being said, you need to become a planner. It’s not just on your tax pro to be the planner. Ultimately, tax is a service, not an event. It’s a year-long process, not just a one-time event. If you can get your mindset shifted around that, it could really change the game and the results. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 25 Oct 2022 | 106: Key Areas to Consider When Dealing with High Inflation for Goals-Based Planning | 00:37:06 | |
Inflation is here – and it's here to stay for a bit. Obviously, we have to deal with it, but how? In today’s episode, we discuss some things you have to think through to shield yourself from inflation, or at least mitigate its impact. Hindsight is a good teacher. And so, if you can capture those lessons and put them in your plans for your future, you're going to be better prepared when the next cycle comes around because there will be another cycle. Hopefully, you will also learn to figure out what specific information will help strengthen your ability to predict as a leader so you can steer clear of those blind curves in your business. We are all in the middle of the same hurricane. But there is hope. Inflation is going to come down and things will get better. Just do the things you need to do to get through it! In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode 101: Back to The Basics Checklist to Achieve Breakthrough When You Are Stuck Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 07 Mar 2023 | 125: REPLAY: Email Marketing for eCommerce with Chris Orzechowski | 00:35:15 | |
Are you scared of emailing people just because you think you’re going to bother them? Whether you’re still new to ecommerce or you’re scaling to grow your brand, it’s crucial that you know how to run email marketing campaigns effectively. Today, email copywriter Chris Orzechowski talks about why having an email marketing campaign is one of the keys to your success as a business owner. Chris skipped his day job as a school teacher to focus on email copy, something he has always enjoyed. He loves working on campaigns as well as seeing how a simple 500-word email can make tens of thousands of dollars or how kicking off launch campaigns can end up bringing in millions of dollars. Now, he has become a master at his trade and does wonderful work to support ecommerce and small businesses. His agency revolves around helping ecommerce business owners grow their brands and grow their revenue through automation. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 30 Mar 2021 | 046: Adopting a Growth Marketing Mindset with Sarah Mae Ives | 00:28:45 | |
Was your last business a failure? Then how is your next one going to be any different? One of the challenges business owners have is trying to get away from other people’s approval. We could get so wrapped up in what other people might say about us. But if you truly want to succeed in business, you have to make that conscious decision to change your personal narrative from “I’m NOT going to be successful” to “I’m just going to go for it!” In this episode, social media ads strategist and business owner, Sarah Mae Ives, shares how you can adopt a growth marketing mindset along with some marketing strategies to help set yourself up for success. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: https://www.profithero365.com/SarahMaeIves Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 11 Oct 2022 | 104: Multistate Income Tax: Understanding It and How to Get Prepared for It | 00:28:10 | |
If you’re planning to or already starting to do business across states, you’ve got to know what’s going on from an income tax perspective. A multistate income tax is different from a sales tax. And a multistate income tax can have a lot of different names attached to it depending on the state. Joining us today once again is Chris Mahler, CPA who is also part of our TBL family strategic partner and compliance consultant. We dive into multistate income tax – what is it and how do we get prepared for it? A multistate income tax can be complex but it should not make you pay too much more in overall additional taxes. You're just going to be moving around what you pay to different states. There are a few caveats too that we'll discuss. The good news is there's always help out there as you navigate through all the potential pitfalls that are out there. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode 103: What To Know & Understand About Building a Team Across Multiple States Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 18 Apr 2023 | 131: REPLAY: Discovering Who You Are As An Online Entrepreneur with Katie Chase | 00:37:30 | |
Do you feel like you’re a square peg in a round hole as an entrepreneur? Many times, we think we have to get it all figured out right away. Then, we think we have to stay exactly the same as who we were the day we started. If our business doesn't look like it was supposed to look when we set out to start it, we view that as a failure. In today’s episode, Katie Chase shares how her entrepreneurial journey revealed to her where her strength truly lies. Just because you start somewhere doesn't mean that’s where you have to end. It’s not a failure if you eventually realize that the business you've been building is not the business you should be working in. If you, too, feel that way in your business, then it's probably time to do a heart check and let Katie’s story inspire you. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: RocketFuel by Gino Wickman + Mark Winters: https://amzn.to/3kbwdCA Traction by Gino Wickman: https://amzn.to/3dwejaS Bobby Klinck’s podcast: https://bobbyklinck.com/podcasts/ Episode 36: Visionary and Integrator 411 Gift Exchange: https://www.thebottomlinecpa.com/036-visionary-and-integrator-411-gift-exchange/ Episode 47: Online Legal Basics with Bobby Klinck: https://www.thebottomlinecpa.com/047-online-legal-basics-with-bobby-klinck/ Kolbe Instinctive Strengths Assessment: https://www.kolbe.com/kolbe-a-index/ Xero Accounting Software: https://www.xero.com Gusto Payroll: https://gusto.com/ Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 21 Mar 2023 | 127: REPLAY: Using An Accountable Plan To Create Tax-Free Reimbursements | 00:35:07 | |
If you're a small business owner with employees and you still don’t have an accountable plan, then now is the time to start thinking about it. In this episode, we're diving into using an accountable plan to create tax-free reimbursements – in a legal way. Every decision is a profit decision, and profit is measured in time, energy, and money, and that especially happens around your tax, your tax strategies, and your policies. And if you’re able to hit all three, this means more pay, play, and profit for you and your business! Basically, an accountable plan is a policy around how you're going to be reimbursed for expenses inside your business. One of the biggest reasons why you want an accountable plan in place is reduced taxable income and self-employment tax for the owner or the shareholder. It also allows the reimbursement to be excluded from taxable income for employees. An accountable plan is absolutely legal. If you're ever audited, then you have nothing to fear because then you've got all the structure in place. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Wine Whiskey & Sarcasm: https://winewhiskeyandsarcasm.com/ Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 27 Dec 2022 | 115: REPLAY: Scheduling Your Success With Time Off | 00:43:27 | |
When was the last time you took a day off? It's every entrepreneur's dream to have the freedom, flexibility, and discretion to take time off whenever they want. A lot of entrepreneurs want that freedom but they never get around to taking it. As we get older, we need time off even more than we did when we were younger. We also need to play more than ever. After all, what’s the point of hustling so hard if we're not taking the time to play and rest? Today, we dive into scheduling your success with time off. You're in a business to grow. You're in a business to do big things. Therefore, time off should be your thing. When you are in a leadership role, there are even more reasons for you to care of yourself. If you enjoy work and taking time off isn’t your idea of freedom, then choose what freedom looks like to you. Use this time to identify what it is you want to do, what it is you want to work on, and how you want to grow this year. Just to put things in perspective, there are no emergencies in accounting. It's not life and death stuff physically, though it can be emotionally and mentally. You have to figure out how to play both sides. Ultimately, you can’t define your success by what you accomplish. You're worth it just because of who you are. That alone is enough reason for you to take care of yourself. If you don't think you need it, just try to reconsider. What you do in your time off can vary; regardless, you need that pause button to regenerate yourself. You just have to start small and start somewhere. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. | |||
| 21 Jun 2022 | 093: 10 Common Bookkeeping Mistakes You Should Know & Understand | 00:30:43 | |
The health of your accounting and your book starts with the health of your chart of accounts, which is basically an accounting terminology that refers to a list of categories including income, expenses, and liabilities. If your business is extremely consistent in how it’s spending money, what it spends money on, and how it receives money, then you can make sound decisions over the course of 90 days. This is data coming out of the accounting system that you can trust. You need to be able to produce quality data because without excellent data and you don't have the facts you need, you can't make the best profit decisions. At the end of the day, your chart of accounts is something you should absolutely know and understand. In fact, it should be a great training tool you can introduce to your team. It should also be a tool for communication between you and your accountant, your tax pro, or whoever is involved in your finances. S don't underestimate the power of a great chart of accounts. In this episode, we dive into the 10 common bookkeeping mistakes you should know and understand as an entrepreneur. This is an important and relevant topic, even if you don't like bookkeeping because it will give you insights into what you should be paying attention to when laying the foundation in your business in terms of your bookkeeping and your accounting. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 24 Aug 2021 | 058: Evolution of Setting & Achieving Goals | 00:39:13 | |
Over the years, we have seen how the way we’re setting and achieving our goals has evolved. A huge part of our growth and traction is the Entrepreneurial Operating System (EOS) that we’ve implemented in our business. When we first started out, we had short-term goals such as getting the blogpost or newsletter done or sending out emails once a week. Back in August 2020, we decided to be an EOS company. One year later, we have seen the tremendous impact it has had on our business. It has been life-changing not only for our business but for our team members as well. It has called us higher in the way we show up in the business and relate to each other and our clients. Indeed, it has been one of the best decisions we've ever made. With the introduction of EOS, our goals became more clear. When you have that clarity, you start seeing which things align and which don't. Then your goals start getting bigger and bigger. Ultimately, there is no perfect start when setting and achieving goals. However, the more you do it, the better you get at setting goals. It's a process and it only works when you work it. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Entrepreneurial Operating System (EOS) Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 10 May 2022 | 087: The 2022 New Hire Experience: 3 Mindset Shifts for Rewarding Returns | 00:41:01 | |
Whether you’re starting, scaling, or sustaining a business one of the cornerstones of success is creating a great overall experience – for your customers, your team, and your partners as well. But one of the things often overlooked by companies when scaling a business is the new hire experience. Why should you care about this?
In this episode, we talk about the THREE mindset shifts you need to make as a business owner or as a company when it comes to new hires to make sure you’re getting rewarding returns.
Whether you’re hiring a new person into the company or moving an existing employee to another department, failing to plan on your onboarding and considering what type of situation the person will be in is going to have a huge impact on your strategies and objectives.
In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Visionary and Integrator 411 Gift Exchange Blog Visionary and Integrator 411 Gift Exchange Podcast The First Ninety Days by Michael Watkins Find EOS Communities here: The EOS Pulse Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 28 Feb 2023 | 124: REPLAY: Setting the Table for a Remarkable Client Experience | 00:36:39 | |
Whether you’re selling products or services, digital courses, or memberships, having a clear picture of what your client experience looks like will help you create the kind of relationship you want to build with your clients. While there is no perfect client, no perfect team, no perfect accountant, and no perfect business, relationships are still the key to keeping it all together when some things are not necessarily working at their optimum level. That being said, a remarkable client experience is both exciting and terrifying because relationships take work and it has to continue even after onboarding. In this episode, we're going to dive into the first 100 days of a client's experience, which is a proven process at The Bottom Line. One big key to making transformational success work in our process is in our meet-and-greet session right at the beginning of our 60-minute session with our clients. As your client’s processor, partner, and protector, depending on the season, you need to look out for each other's blind spots. And if your clients don’t feel they have a safe space to communicate with you, then you miss the opportunity for that partnership to come full circle. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Never Lose a Customer Again by Joey Coleman
Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 28 Sep 2021 | 063: The Tale of Two Desks & Their Meaning | 00:36:35 | |
What does your desk say about you? Are you the cluttered or clean desk type? Do you have post-it notes all over or is the OCD-ness in you evident in your desk being filled with Clorox wipes, air spray, and all the other cleaning supplies you have? Our desks actually tell a lot about us and how we work. Today, we talk about the tale of two desks and their meanings. This episode is about what our desks say about us and what your desk might say about you; there are different strokes for different folks. At the end of the day, you have to make it your own. It’s your personality and it’s your history. Do whatever helps you create your magic in the world. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: https://www.bbc.com/worklife/article/20161108-what-the-state-of-your-desk-says-about-you https://www.salary.com/chronicles/13-things-your-desk-says-about-you/ Pocket More Profit Workshop: https://payplayprofit.com Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 10 Jan 2023 | 117: REPLAY: How to Master Cash Predictions Through Budgets | 00:33:36 | |
Most small businesses fail because they no longer have the cash to continue. And if you're growing a business, you've got to keep everybody on the same page and have the tools in place to drive extreme clarity. In this episode, we're going to talk about how to master cash predictions through budgets. As a business owner, you have to get good at predicting. By putting the right systems and processes in place, you’re able to make more accurate and faster predictions, especially that predicting cash through a budget could be painful the very first time you do it. We have been doing the Entrepreneurial Operating System (EOS) for more than 18 months now and we're six quarters in. EOS is a powerful operating system based on the book “Traction” by Gino Wickman. It talks about five leadership abilities in growing an organization, and one of them is getting really good at predicting – be it in finance, cash flow, and even with tax. Although you never know what will happen until you get there, you have to predict, at least, based on some assumptions that will drive and create value in your organization. Through the power of the EOS and how it has helped us evolve as leaders and owners, we now understand that the greatest skill and value we can bring to our organization is the fruit of predicting well. Predicting is the way to drive and create value in your organization – and your finances are no exception. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Traction by Gino Wickman Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com. | |||
| 05 Oct 2021 | 064: Inventory & Operational Expectations in 2021 | 00:34:59 | |
Today, Lindsey Fronaphel CPA joins us as we dive into inventory and operational expectations in 2021. There are a lot of moving parts to inventory, making it a big deal especially in the world of e-commerce. If you don't have inventory, you don't have sales. You have to keep your eyes on your inventory levels so you don’t run out of it and in order to maximize sales. You also need to understand not only the financial and operational pieces of it but what it means to your growth and scalability as well. At Bottom Line CPA, we believe that what your bottom line says is more important than what your top line says. However, many entrepreneurs only think about their top-line growth. Ultimately, your net income is driven by your inventory. Therefore, at some point, you need to be in a mindset where inventory becomes a priority and you make a point to wade through it. You’ll probably never have a perfect inventory but you’ve got to at least find the inventory solution that best fits your business. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 31 May 2022 | 090: Paying For Your SBA COVID-19 Economic Injury Disaster Loan | 00:18:45 | |
In this episode, we talk about some things you need to consider when paying for your COVID-19 Economic Injury Disaster Loan (EIDL). Funded by the Small Business Administration (SBA), the EIDL was one of the ways to help small businesses take care of their cash flow needs related to their business operations. If you're just sitting there on your SBA money, and you didn't use it, now is absolutely the time to figure out whether you need to keep it. Otherwise, you should likely consider paying it back if you're not going to use it in a way that's going to earn more than what the interest is costing you. For those businesses that took advantage of this opportunity, the bills are coming due. They've delayed it several times so there has been some confusion on the due dates. People have started getting email notifications. In their last email notification around mid-April, they stated they had deferred payments for another six months. Since the interest rates are so low, the payments are extremely reasonable considering its 30-year payment schedule too. So it shouldn't hurt the bank account of small businesses too much if you’re getting ready to book a loan repayment. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Check your balance here: Capital Access Financial System Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 28 Jun 2022 | 094: Adopting A Company 401k To Maximize Tax Savings With Guideline & Gusto | 00:31:46 | |
It can be so intimidating to start to talk about a 401k for yourself as a business owner, much less adopt a company 401k, especially if you're just a two-person team with your first deputy team member. If retirement and being aggressive towards retirement are on your radar, there's no better time than now to understand what adopting a company 401k means. The savings for you could be substantial depending on how your financials look and where you are at in the season of your life. It’s also worth noting the importance of having the right partners in place. At The Bottom Line®, we have found the best partners in the market that we have used in our business and with our clients. First, is Guideline, a retirement platform that offers a wide range of 401k products. Our other partner is Gusto, which is our payroll partner. Adopting a company 401k is a huge decision because there are a lot of moving parts to it. It impacts not only you as the business owner, but also your employees and the company itself. It impacts your cash flow, your profitability, and your taxes. Therefore, it’s crucial to have that mental acuity and clarity to make sure that you're adopting a company 401k at the right time, backed with all the facts and the data, and having the right partners to help you set up the right type of plan and systems based on how you're structured and how your finances are going. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Previous Episodes: Episode 075: Common Retirement Plans for Small Businesses in 2022 Episode 079: How HSAs Benefit You Now and At Retirement Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 23 Mar 2021 | 045: Homeschooling & Entrepreneurship with Dr. Brenda Murphy | 00:35:40 | |
What do you do when you have a child who is falling through the cracks while you’re also running and growing your business at the same time? How can you give your child the right kind of understanding and support they need when you’re also struggling to juggle things as an entrepreneur? In this changing environment, there are things that also need to be changed in our educational settings. First, you need to have that mindset of investing in education yourself. In this episode, Dr. Brenda Murphy, President and CEO of SailAway Learning and Academy, talks about how you can support children with their education in these very challenging times. You can shotgun things out there or spend hours online finding lots of different kinds of advice, but an educational expert could just be one of the best investments you’re ever going to have to make. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: https://www.profithero365.com/SailAwayLearning https://www.profithero365.com/MakeLearningABreeze https://www.facebook.com/sailawaylearning/ Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 17 Aug 2021 | 057: Powering Your Profit Decisions Through Clarity Breaks | 00:23:31 | |
In this episode, learn how you can make some breakthroughs by taking on very intentional scheduled clarity breaks and how you can start making better profit decisions in your business. Our company has been running on the Entrepreneurial Operating System (EOS) and it has truly moved the needle in terms of leadership in our leadership team, the performance of our entire organization, and the growth of our money in general. One of the tools in the EOS process is clarity breaks. Whether or not you adopt EOS, the tenets of clarity breaks and making profit decisions hold true for any business owner and any business. Remember, profit is measured in time, energy, and money. No one in the business is going to advocate for profit more than you as the business owner and visionary. Therefore, you have to make profit matter. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: Entrepreneurial Operating System (EOS) How to Be a Great Boss by Gino Wickman Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 27 Jun 2023 | 139: REPLAY: Multistate Income Tax: Understanding It and How to Get Prepared for It | 00:28:26 | |
If you’re planning to or already starting to do business across states, you’ve got to know what’s going on from an income tax perspective. A multistate income tax is different from a sales tax. And a multistate income tax can have a lot of different names attached to it depending on the state. Joining us today once again is Chris Mahler, CPA who is also part of our TBL family strategic partner and compliance consultant. We dive into multistate income tax – what is it and how do we get prepared for it? A multistate income tax can be complex but it should not make you pay too much more in overall additional taxes. You're just going to be moving around what you pay to different states. There are a few caveats too that we'll discuss. The good news is there's always help out there as you navigate through all the potential pitfalls that are out there. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||
| 30 May 2023 | 137: REPLAY: Direct Costs vs. Expenses & Why You Should Care About Knowing The Difference | 00:27:23 | |
The best profit decisions are happening with your time, energy, and money, which means more pay, play, and profit in your business and life. And a huge part of that is understanding your financials. Your financials are three-dimensional – profit, tax, and cash flow. You also need to think about direct costs versus expenses in all these three dimensions. “Direct cost” refers to the cost directly tied to your sales. You incur them directly with your sales. “Expense” refers to the operation cost. These are the things you do and spend money on that are not directly tied to the sales. Everything you spend obviously supports the sales but they're not directly tied to the sale. Now, the IRS has a very defined structure on how they want to see your costs and expenses filed on the tax return. This is part of the tax compliance. Today, we're going to dive into direct costs versus expenses, and why you should care about knowing the difference. And as a small business owner, you should definitely care! Now, you have to get the foundation in place first, because if you don't understand the foundation of direct cost versus expenses, it's hard for you to navigate the three-dimensional conversation. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.
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| 10 Aug 2021 | 056: Pricing for Profitability in 2021 & Beyond | 00:36:19 | |
In this episode, we dive into pricing. Not all sales are created equal. There are several reasons that that happens. One of those reasons is that every decision is a profit decision where profit is measured in time, energy, and money. Therefore, when we sell something, it requires time, energy, and money. Now, if you have good money but it robs you of your time and energy, that's not a good pricing model. Additionally, if you have time to pull it off but it's not profitable, that's not an ideal pricing model either. You should evaluate your products and your processing as often as is necessary to get you to where you want to go. You can't just price something today and hope it's going to keep working at that price forever. Otherwise, your profitability will go down. As certified Profit First professionals, we have found a very simple, practical, and powerful way of figuring out pricing. Now, there are going to be factors within your control and factors outside of your control. You want to limit the outside factors creating havoc on the inside and for that you need margin. This can be found in profit, time, and energy. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit to download it. Supporting Resources: 054: Celebrating Y21Q02 Profit Distributions Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 30 Nov 2021 | 068: Understanding Tax Deductions for Mileage & Vehicles | 00:33:25 | |
In this episode, we dive into understanding tax deductions for mileage and vehicles. We get lots of questions about vehicles before the end of the year because people want to know if they can buy a vehicle with all of their profit and get a tax deduction for it. Well, hopefully. Like all tax subjects, things can get a little confusing because there are different options to consider. You shouldn’t just spend your money to save on taxes. At the end of the day, it’s a profit decision that you need to make. The reality is every situation is unique, every business is unique, and every business owner is unique. Their cash flow and tax situations are all different. Therefore, you need to understand that tax is not a one-dimensional thing. There are a lot of scenarios that need to be covered; that’s why you need to talk to your tax people. You can’t just read things on the internet, watch videos on YouTube, join a Facebook group, and make profit decisions from there. It just doesn’t work that way. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com | |||
| 02 May 2023 | 133: REPLAY: Your Ideal Teammate with Trivinia Barber | 00:37:43 | |
You’ve probably mastered knowing your customer avatar, but have you taken the time to really figure out who your ideal teammate is? Imagine, this is somebody you’re going to spend 2 to 10 hours a day, depending on the season of life you're in with this person. You’ll perhaps engage with them more than you do your partner or your children sometimes. And yet, people make these decisions on who they're going to hire based off of a 30-minute interview. In today’s podcast, Trivinia Barber, founder of Priority VA, talks about the value of an executive assistant, and how we, as business owners and entrepreneurs, need a right-hand person in our life. It's a great profit decision that will have a return on in terms of time, energy, and money. Trivinia Barber is the founder of Priority VA where they match executive assistants with entrepreneurs all around the globe. She started the company as a result of her own problem as a former executive assistant herself. Now, her company is focused on executive assistants and helping them get placed with high-level clients who understand the value of a team member and that they can only get as far as they can go with a team they can trust. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: The Ideal Teammate Avatar Training Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com
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| 15 Nov 2022 | 109: Year-End Tax 2022: Last-Minute Deductions To Consider Before 12/31 | 00:44:23 | |
It's the end of 2022 and there have been some new things that have been flying through about taxes this year. From the new reporting requirements for returns to new credits and new things around energy being done. You can't navigate this all on your own because frankly, we can't either. It's a frenzy most of the time, especially when we're cycling up to an election year. And this is the very reason you don't want to wait until December 31. Today, we discuss six powerful business tax deduction strategies you need to think about. Talk to your accountant or tax pro about what makes sense for you because there's nothing more personal than tax. Every situation is different so make sure to understand how it relates to you and your tax situation. Lastly, please show grace to your accountants and tax preparers. There's a lot that you depend on them for and hopefully, you're with the one that you trust, because this is one of those times when partnership matters a lot. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Gusto Episode 084: How to Help Kids Build Wealth with IRAs *** Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com. Let them know we sent you. | |||
| 19 Apr 2022 | 085: Our 32-Hour Workweek | 00:39:04 | |
Profit is measured in time, energy, and money – but how do you achieve a triple win on all three? Here at The Bottom Line, we have made a profit decision to shift from the usual 40 hours to 32 hours per week. We’re working towards making it our full-time standard, even during tax season. In other words, we want to get more done in less time. Part of our vision is to create an environment where people come in motivated, inspired, and feel like they are part of a culture bigger than themselves. Perpetuating a 40-hour work week isn't something we want to do. We want to prioritize rest as much as we prioritize hard work. And we also want to prioritize play as much as we want to prioritize hard work. We also realized that once you’re able to create a container about what you want your business to look like in three years, from the day that you cast that vision, you’re able to set some goals and take the necessary steps to make your goals come into fruition. In this episode, we’re going to share with you how we’re currently executing our shift to a 32-hour workweek, where we are on this journey, how we’re making the transition without drastically impacting our operations, and some big lessons we’ve learned along the way. In this episode, you will hear:
Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Supporting Resources: Entrepreneurial Operating System (EOS) Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you. | |||