13Oct 2016 by William Simi
Overcoming the Overhead Myth

Overcoming the Overhead Myth

Not For Profit
If you work in the non-profit sector then you’ve almost certainly come across Dan Pallotta’s highly influential TED talk from 2009 ‘The Way We Think About Charity Is Dead Wrong’ – and if you haven’t then we would strongly urge you to do so. The key element of the TED talk is the concept of ‘The Overhead Myth’ – the ingrained and persistent belief that a non-profit organization’s key aim should always be to limit and reduce its overhead above all other objectives. There’s a belief that spending money on fundraising efforts, advertising campaigns and talented, experienced personnel is somehow contrary to the aims of a charity – and that causes a problem for the non-profit sector. If you’re ever going to grow your charity, increase your fundraising income and…
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10Jun 2015 by William Simi
IRS Adopts “Taxpayer Bill of Rights”, 10 Provision Highlights

IRS Adopts “Taxpayer Bill of Rights”, 10 Provision Highlights

Tax
The IRS has implemented the 'Taxpayers Bill of Rights' and is taking steps to make sure all tax payers know about it. The Bill of Rights was created to make your rights as a taxpayer more visible and easier to find the fundamental information needed available on the IRS.gov website. According to the IRS Newswire, on June 10, 2014 'Congress passed multiple pieces of legislation with the title of 'Taxpayer Bill of Rights'. However, most taxpayers do not believe they have rights before the IRS and even fewer can name their rights'. They believe the list of core taxpayer rights the IRS is announcing today will help taxpayers better understand their rights in dealing with the tax system. 'The Taxpayer Bill of Rights contains fundamental information to help taxpayers,' said…
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15May 2015 by William Simi
Operation Rescue Main Street: Chapter One – The Dream

Operation Rescue Main Street: Chapter One – The Dream

Book Reviews, Business Advisory
Operation Rescue Main Street presents a preview of the first chapter of the book Six Steps to Small Business Success. Upon reading through this chapter, you will develop a definite sense of what your dream outcome could be and how to successfully create a plan to achieve that dream. Here are a few snippets from various sections throughout chapter one: Chapter 1 The Dream: Running Your Own Business with Integrity The Dream Business is no different from life in the way that when you start a project, you have a picture in your mind as to how the end product should look. Everyone should spend time planning their business and personal lives so they may decide what their dream of success and wealth really look like! Integrity: Pieces of the Dream…
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05May 2015 by William Simi
Focusing on Overhead: The Nonprofit Circle

Focusing on Overhead: The Nonprofit Circle

Business Advisory, FREE Business Tools: Learn the Secrets, Non Profit Principles: Steering You in the Right Direction
Think about how you donate to charities; do you focus on the percentage of your dollar that will actually go towards the cause? If for every one dollar donated 50% of the amount goes towards the cause, would you still donate? How about 40%? 30%? 10%? Here is some food for thought. Overhead expenses and the cause or goal of the nonprofit can be two good measurable indicators of success within a nonprofit organization. The Bill and Melinda Gates Foundation point out that they use many measurable indicators to prove their cause is a success without limiting themselves to JUST the overhead metric. Their causes or goals are measurable, attainable, and set within a time limit to encourage continued movement towards the goal/cause. SMART goals, as you might have heard them referred to in…
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13Dec 2014 by William Simi
Keep Your Equity: Expanding Your Business Without Outside Investors

Keep Your Equity: Expanding Your Business Without Outside Investors

Business Advisory
By: Bill Simi If you are trying to grow your company, you know it takes two things: time and money.  Your time is limited to the number of hours you, personally, can invest.  Then you need money to hire people – essentially buying more time.  How can you generate enough money to buy peoples’ time without getting outside investors involved, and losing equity in your company? When you need to bring money in right away, there are two ways to do it:  offer equity or assume debt.  By offering equity, you gain immediate funding, but you lose future profits and some control of your company.  Assuming debt may be a better “investment” for you.  Opening a line of credit or getting a loan from a bank may cost less long…
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29Nov 2014 by William Simi
10 Questions

10 Questions

Business Advisory
As with many situations in life, entering into a relationship with a financial advisor, is about asking the right questions.  Our guest blogger this week, Brad Harsch of Lighthouse Strategic Advisors, shares with us the 10 crucial questions investors should always ask - Choosing an advisor to help manage your money is one of the most important hiring decisions you'll make. But even those who hire competent individuals for their businesses struggle when it comes to selecting and retaining the right financial advisors to grow and protect their wealth. Even the most discerning investors often don't know which questions to ask or what the position actually entails. These 10 questions should help you identify those advisors best suited to properly guide you on a successful financial journey. 1. What is your educational and professional background? Look…
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17Sep 2014 by William Simi
Identifying and Building Core Competencies for Success

Identifying and Building Core Competencies for Success

Business Advisory
By Fred Crooks Core competencies for success are a unique set of skills and abilities that can guide you in your quest to reach your career goals.  Knowing what these competencies are and identifying them within yourself can help you gauge your skillset and create goals for personal and career success. 1. Identify.  Identify your skills and determine which ones are most valuable.  Determining the value of your skills will require knowledge of what the value of the skill is in the workforce (Is it sought after?  Is it rare?), your mastery of the skill, and most importantly, how much you enjoy using that skill.  If you dislike using the skill but you are very good at it, the value changes because you are less motivated to use it, and…
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05Aug 2014 by William Simi
How to Write a Business Plan

How to Write a Business Plan

Business Advisory
Business Plan Definition What is a business plan? A business plan is a formal document which describes the business, details the goals of the business, and describes how those goals will be attained as well as the risk factors that may present problems. There are a number of resources available to help assist you in preparing a business plan. Too many business owners think they have a good idea and decide that a good idea warrants starting a new business. If business owners take the time to prepare a business plan, they might find that risk factors, become evident in the business plan and decide against starting a new business. It is far better to invest the time in writing a business plan than to invest more time and money…
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01Jul 2014 by William Simi
IRS Adopts “Taxpayer Bill of Rights;” 10 Provisions to be Highlighted by the IRS

IRS Adopts “Taxpayer Bill of Rights;” 10 Provisions to be Highlighted by the IRS

Business Advisory, Tax
IRS Adopts "Taxpayer Bill of Rights;" 10 Provisions to be Highlighted on IRS.gov, in Publication 1 WASHINGTON ― The Internal Revenue Service today announced the adoption of a "Taxpayer Bill of Rights" that will become a cornerstone document to provide the nation's taxpayers with a better understanding of their rights. The Taxpayer Bill of Rights takes the multiple existing rights embedded in the tax code and groups them into 10 broad categories, making them more visible and easier for taxpayers to find on IRS.gov. Publication 1, "Your Rights as a Taxpayer," has been updated with the 10 rights and will be sent to millions of taxpayers this year when they receive IRS notices on issues ranging from audits to collection. The rights will also be publicly visible in all IRS…
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21Jun 2014 by William Simi
Small Business Owners: Tools to Sharpen your Competitive Edge

Small Business Owners: Tools to Sharpen your Competitive Edge

FREE Business Tools: Learn the Secrets
Today's small business owner is confronted with new business problems and opportunities on a regular  basis, but rarely do they have the time to investigate all the possible solutions and opportunities. We at CPA  Corporation want to become a valuable resource for businesses to help them solve these problems and take  advantage of the opportunities that exist. In an effort to do this, we will be posting frequent Blog posts several times each month featuring our (Small  Business Advisor Toolkit) SBA. These Blog entries will include among other things:  Best Practice Checklists, Self Assessment Questionnaires and modifiable Templates. These tools in our SBA portfolio will incorporate the latest ideas in areas as diverse as customer and supplier relationships, financial matters, employee and industrial relations, production processes and waste management. Using…
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