NAWBO-IE: The Organization of Choice

You, Your Business and Tax Law Changes

2012-01-31T15:41:00.000-08:00

The transition from 2011 to 2013 promises to be a rocky one in the tax world, as we move through the 2012 election year with a extremely partisan debate over the future course of the federal tax system and federal budget in general. With expiring tax provisions, new health care taxes, and estate taxes back, tax planning is highly advisable. Here are some of the changes to be on the lookout for:

The New Hire Retention Credit was originally created as an incentive to hire unemployed workers in 2010. Now it is to help retain the newly-hired employees for whom the hiring exemption was claimed in 2010. The new credit is allowed for such employees who remain an employee for 52 consecutive weeks. The credit is the lesser of $1,000 or 6.2% of wages paid by the employer to the retained qualified employee.

Congress has repealed the 3% withholding requirement that was scheduled to take effect in 2013 for all payments to government contractors providing property or services to a federal or state/local government agency. In addition, the new law extends and expands the Work Opportunity Tax Credit (WOTC) applicable to qualified veterans. This credit applies to any veteran who served for more than 180 days.

An employer may offer his employees a “simple cafeteria plan” for the years after 12/31/10. Such plans are granted a safe harbor for meeting non-discrimation rules that generally apply to cafeteria plans. Remember, cafeteria plans are not available to partners, LLC members or sole proprietors. Nor can they be offered to S corporation shareholders owning over 2% of the company.

Employers will be required to disclose the value of the employee’s health insurance coverage sponsored by the employer, starting with the 2012 W-2s.

The American Recovery & Reinvestment Act temporarily shorted the built-in gains tax waiting period for corporations that switch from a C to S status to 7 years from 10 years. The new law, changes the waiting period even further, providing that no BIG tax is owed on built-in-gains recognized in tax years beginning in 2011, if certain provisions are met.

100% bonus depreciation remains in effect for 2011, but drops to 50% in 2012 and is scheduled to disappear altogether in 2013, with an exception for certain “long-lived” property.

Maximum section 179 expense (for fixed assets) drops in 2011 to $139,000 (from $500,000), futher dropping to $25,000 for tax years beginning after 2012.

For decedents dying in 2010 and 2011, the estate tax applicable exclusion amount is $5 million. For deaths in 2012, the applicable exclusion is inflation adjusted to $5,120,000, with the maximum estate tax rate being 35%. In 2013 and beyond, the transfer tax is scheduled to return giving us a top rate of 55% plus 5% for certain estates, and a $1 million exemption.

Phoebe Vausher-Frankeberger is a partner with Frankeberger Vausher + Company, CPAs which is located in Chino Hills. She can be reached at 909-597-1100 or at PhoebeF@FVCPAs.com

NAWBO-IE Affiliate CREW-IE Hosts Event February 1

2012-01-17T11:32:00.000-08:00

Attention Subcontractors...Event in Victorville 1/12/12

2012-01-04T11:12:00.000-08:00

Social Media Sensation: Creating Buzz for Your Bottom Line

2011-12-30T14:45:00.000-08:00

Social media is becoming a key ingredient in the marketing recipe for your business. There are opportunities and measurable results for businesses of all sizes, and companies are taking notice. According to current research, social media marketing is set to increase at an annual rate of 34% over the next five years, outpacing all other forms of online marketing. In fact, the expected growth rate for social media marketing is nearly double the average growth rate for all online mediums. There's a reason so many companies are increasing their social media budgets - it's proven to be a very effective tool for reaching customers on a new level. Having an active social media presence can help your bottom line, and there are a host of other benefits:

Interact with your customers directly: Social media gives you a chance not only to engage your customers one-on-one, but you can also hear what they say about your company online. Make sure you take advantage of that opportunity, but don't react harshly to criticism you may see. Every action you take online will be seen and remembered. A great reputation can be spoiled with one misguided post made in the heat of the moment. Build trust for yourself and your brand by consistently adding valuable content, and handle your following with a PR-friendly voice.

Own your company's social presence: If you don’t already have your own Twitter and Facebook accounts, get them before someone else does. If people make their first contact with your brand online, be sure that you have control over the message.

Look like you're "with it": On Facebook alone, there are over 400 million users spending over 500 billion minutes per month on the site, and those numbers are consistently growing. Your target audience is becoming more and more likely to have social media use as an integral part of their daily lives. Customers are twice as likely to do business with someone they identify with. If you're not on Facebook, your customers might wonder if you really "get it".

Get great feedback on your business: Better than the results of any survey you could send out to your clients is listening to their reactions online following the release of a new product. With social media, you don't have to solicit for responses - something that can often result in misleading data. If you're engaged in social media forums, you'll have your fingers on the pulse of what is really going on with your business, and how people are reacting to it.

Establish yourself as an expert in your field: Your company profile is a fantastic opportunity to post about your company's activities, as well as relevant news and trends occurring within your industry. By gaining lots of followers and displaying your expertise, people will begin to identify you as a "guru" in your field. This will ultimately lead to people being more likely to trust you (and therefore do business with you!).

Christine McDannell is Co-Founder and President at Social Starfish. Find out more at www.socialstarfish.com Christine will be presenting at NAWBO-IE's January 19, 2012 meeting.

NAWBO-IE Hosts Holiday Mixer December 6

2011-12-01T08:45:00.000-08:00

Be sure to register at: http://nawboie2011holidaymix.eventbrite.com

Proven Strategies to Build Powerful Business Relationships

2011-11-30T09:43:00.000-08:00

Building strong business relationships is an important aspect of any successful business. Yet, it is usually an area that is overlooked or doesn’t receive a lot of attention due to busy schedules. But business relationships can make or break your business, especially in a down or “different” economy. One of my business colleagues recently pointed out that those businesses that survived the recession tended to have deep and committed relationships with their clients and colleagues.

When I think about my business today, I am grateful for the business relationships that I have, and many of them have grown into friendships. When I was working in the corporate world, we were taught to keep a high-level “professional relationship” with clients and colleagues. We didn’t talk about being authentic or really connecting with our clients, we were just taught to close the sale. When I started my own business, I quickly realized that the corporate attitude wasn’t going to sustain me. Plus, being in business can be lonely, so I quickly reached out to others and started to build long-term business relationships.

Recently a business colleague reached out to me through LinkedIn. LinkedIn is a social networking tool that allows you to build your network of business relationships online. I’ve been building my LinkedIn account for years and have just recently passed 500 connections. When this new colleague reached out to me, he pointed out that he was impressed with my 500 connections. While the number was great, I was even more excited about the fact that those 500 connections represent business connections with individuals that I value at a deep level. Unlike Facebook where I have some contacts that I barely know, LinkedIn holds my treasured group of business relationships that have helped me grow my business to where it is today.

Those relationships have lead to incredible synchronicities and opportunities that I only dreamed of when I first started my business. Your relationships are like an invaluable asset that just keeps growing as you invest your time and energy. I have found that there are five key strategies to easily and effortlessly build strong business relationships-with intention.

One: Connect with Intention. Connecting with intention requires active listening skills and being present in the moment. It is easy to be preoccupied with other things that are going on in our lives, but if you are always thinking about the past or the future, then it is impossible to be present. Others can feel whether or not you are present , and if they feel that you are disconnected, they pull back, stopping a relationship in its tracks. Be present, ask great questions and take the time to get to know someone.
Two: Be Authentic. Mike Robbins once said, “Be yourself, everyone else is already taken.” In business, there is a lot of pressure to “act a certain way” or model other’s behavior. However, I was listening to a speaker recently and she said that the more authentic she is on stage, the more her sales increase. I have found the same to be true. The more authentic I am, the more “me” that I allow to show up, the more clients and speaking engagements I receive. People sense when we are “faking it” and over time those relationships will fizzle away.
Three: Deepen the Relationship. Once you have connected with intention and started to get to know someone, what should you do next? Unfortunately, we have short memories, and we can quickly forget about that “great person” we met at our last networking event. The truth is, they probably won’t follow up with you, even if they want to. Why? Because they are really busy and have been swept back into their business the next day. It’s your job to follow up and build the relationship, don’t rely on them to do it. Lead the way and set the next time you will meet. My guess is they will be really grateful that you took the lead. The more that you take the lead to cultivate your business relationships, the faster you will build your network.
Four: Go Beyond Expectations. These days it’s not enough to just keep your word; that’s a given. The key to building long and lasting business relationships is to go above and beyond expectations. For example, you could invite someone to be a guest at your table for your favorite charity’s annual event. Or, you could offer to assist them with a challenge they are having in their business. There are many ways that you can go beyond expectations, just choose one and deliver!
Five: Be Committed and Available. In a sea of emails and voice-mails, it can be difficult to stay in touch with new business colleagues. However, the beginning of the relationship is when you really need to stay in touch. If they reach out to you, respond immediately or at least within twenty-four hours (this is a great rule, anyway). Make sure that they know they are a priority to you. The more committed and available you are, the more they will trust you and you will be building a long-term, fruitful business relationship.

Action Item: Reach out to five new business contacts this week and schedule a time to meet with them. Determine who you would like to have long-term business relationships with. Then, take the lead and schedule the next time to meet!

As you are meeting new people, it’s important to recognize and filter those individuals to build a business relationship with. Not everyone is a good fit for you, but you will recognize those individuals who are willing to receive support from you and also willing to give as well. Excellent business relationships are built over time. Invest in them just like you would a 401K – knowing that they take time to build and you might not reap any rewards for a long time. However, there will be those people who will really surprise you. They will invest a lot in you and the growth of your business. And, you might just become great friends!

Sales Expert Ursula Mentjes will transform the way you think about selling so you can reach your goals with less anxiety and less effort! The Founder of Sales Coach Now, Co-Founder of Top Sales Call, as well as an inspirational speaker, bestselling author of Selling with Intention and One Great Goal and a Certified Sales Coach – Ursula specializes in Neuro-Linguistic Programming to help clients double and triple their sales FAST. Ursula also serves as President Elect of NAWBO-CA

Bidding Opportunity for Small Businesses

2011-10-07T11:02:00.000-07:00

This information is shared by NAWBO-IE Corporate Sponsor Metropolitan Water District:

4 Tips for Marketing “Write” on Social Media

2011-09-29T13:57:00.000-07:00

Let’s face it: we’re living in a society of likes, links, friends, fans, followers and tweets. If you have no idea what I’m talking about, then clearly there’s no wi-fi connection in the cave where you are living. And you’re certainly not running a successful business from there, so come out and get social.

According to Nielsen’s Social Media Report Q3 2011, nearly four in five active internet users visit social networks and blogs.

A study done by AOL and Nielsen found 27 million pieces of online content are shared daily in the U.S. The key to using social media effectively for your business is providing content of value. Your clients and potential customers want information they can use and share with others. Being the provider of the information, your credibility gets a huge boost and could ultimately lead to new sales or repeat business. That being said, your ability to write well is tied directly to your social media marketing success.

Here are four tips to help you write to win on social media.

1. Write a hot headline. So you’ve got great information to share, but if you don’t get the reader’s attention, who cares? A compelling headline is your chance to hook ‘em, so pique their interest with keywords they are interested in and power words that get them motivated. Be careful not to be misleading, though. Make sure your content delivers what your headline says. Jazzy tip: Need inspiration? Check out the tabloids. Hate them or love them, they have the best headlines.

2. Write in a conversational tone. As tempted as you may be to post pages from a technical report full of jargon (yawn) or that perfectly scripted corporate sales presentation, don’t do it. Social media is about being social, being a part of the conversation. Jazzy tip: Read your writing out loud before you hit the share or tweet button.

3. Write information that is “scannable.” People do not read at length on social media. More often than not, they scan. So write in a way that readers can easily skim your content. Rather than a long article, present your information in chunks of text that are more manageable to read and easy for readers to digest quickly. Try writing short sentences and paragraphs, and use bulleted lists and subheads to help identify key information. Jazzy tip: Include links to more detailed information and articles, such as a link to your blog.

4. Write and then Edit! Edit! Edit! Just because it’s online content doesn’t mean you can forego the all-important step of editing. If you don’t take the time to check spelling and punctuation, prospects may not take the time to get to know your company. On Twitter you only get 140 characters to get your message across, so ~~eliminate~~ delete unnecessary words. Jazzy tip: When crafting your tweet, edit down to 120 characters, leaving enough room to be re-tweeted.

Bonus tip: Add images or video. On Facebook in particular, image posts receive 54% more engagement than text-only posts.

For more tips on writing for social media and to learn the dos and don’ts, register for Writing Your Way to Results” a half-day workshop presented by Joan Burke Stanford of Jazzy Pen Communications and Carolyn Ortman of CKO Marketing Group. This exciting, info packed workshop delves deep into writing content that takes your marketing efforts to the next level. Visit www.writingforresults.ezregister.com

Joan Burke Stanford, founder of Jazzy Pen Communications, is more than a professional writer/editor. She’s a communications stylist who ensures that business owners rock the marketing runway with their best words forward. She writes the content they need to get the results they want. For a jazzy article, blog post, newsletter, tagline or other communications project, visit www.jazzypen.com

5 Ways to Increase Cash Flow and Profits

2011-09-29T12:37:00.000-07:00

Want to increase cash flow and profits for your business? Well, I’ve got five must-haves that you need to pay attention to in order to achieve these goals.

1 – BUDGET. - Do you know how much it costs monthly to run your business? Do you know how much your business’s annual deferred expenses total? Are there areas of spending within the company, that if monitored would reduce costs and increase profits?

Putting in place a comprehensive budget forces you to prepare a formal statement of financial resources that are available for carrying out the business’s operations. A budget also creates synergy between all the activities within your company. An accurate budget will have sub-budgets that will be focused on achieving company goals. For example: a marketing budget that is focused on growth or a technology budget that is focused on efficiency. Monthly analysis where the budget is compared to actual will enforce key individuals to exercise control and monitor spending.

2 - TAX PLANNING. –There are many tax saving advantages available to businesses and if you do not plan ahead, you may end up paying more tax than necessary. For example: bonus depreciation is available for new automobile purchases; however, this benefit will sunset at the end of 2011. What if you were in the market for a new company automobile but were delaying the purchase until 2012? Tax planning would allow you to analyze the tax savings available if you were to purchase the company car in 2011. This type of planning could reduce your tax bill by thousands of dollars!

3- PERSONAL PLANNING. – This really speaks to individuals who have “closely held companies”. Can you afford your personal lifestyle? Or should I ask, can your company afford your personal lifestyle? Does your company have a retirement plan in place? If so, is it tailored towards your personal retirement goals?

Retirement planning is one of the best legal tax shelters available for a closely held company. Usually for each dollar socked away there is a 40% tax savings; for every dollar contributed to a qualified plan the company may save forty cents in taxes. What a great way to secure your retirement and increase cash-flow.

4 – BUSINESS PLAN. Take the time to write a business plan. A well thought out plan will be a reference point that details the company’s growth strategy and will at minimum include: sales forecasts; the marketing plan; and a product/service mix. A business plan will set measurable milestones and deadlines keeping you focused on the big picture as you achieve the steps necessary to bring that picture to life.

So, how does a business plan create cash-flow? It will force you to think more analytically about your business. By understanding how all the different elements of the business need to “synch” you may realize you have processes in place that don’t allow for growth or need to be retooled to increase market share and profits. Also, since the plan will require you to prepare a sales forecast; a set of financials; break even analysis; and past performance analysis (if you are not a start-up), you will have an intimate understanding of the resources required. Resources will less likely be squandered since they are earmarked for greater success!

5 – PROCESSES. The biggest “time suck” and “profit suck” can be from lack of OR broken processes. Take the time NOW to write down the three processes in your business that if tooled or retooled would have one or all of the following results:

Incrreased profits by lowering direct or operation costs
Increased customer satisfaction
Increased business integration
Increased competitive edge

I personally have a few processes to be retooled written on my whiteboard.

Which profit-increasing tool will you be implementing?

Beth Bockenhauer is the owner of Beth Bockenhauer, CPA, a boutique accounting and CPA practice based in southern California. She started her career with five years of military service. She then worked for ten years as a small business owner, and holds a Bachelor of Science degree in accounting. Beth has worked in public accounting for the past seven years. For more information, visit www.bethbcpa.com

Choosing an Attorney: A Matter of Timing?

2011-08-22T11:43:00.000-07:00

How many lawyers does it take to change a lightbulb? None. They’d rather keep their clients in the dark.

The other day I was at my daily Extreme Boot Camp class in Claremont and quite frankly, my butt was getting kicked. This is a good thing since I still have quite a bit of baby weight to tackle. We had run and pushed up and sat up and jumped. You know, all the things that a Boot Camp should require.

I was yapping with another lady in the class and I said, “I am not not tired.” And she said something to the effect of “typical lawyer, just say that you are tired. Always trying to make things complicated.”

Ah, sigh. Most lawyers totally can handle a “lawyer joke” without needing therapy. We knew when we went to law school that our profession was mocked. I start off every single conversation with a prospective client knowing full well that they think I am trying to rip them off somehow.

Now, this article is not going to try to bring down a rich history of lawyer jokes and general despise of attorneys to an end. After all, some of the jokes are funny. But, maybe, the problem is not the profession as a whole. Maybe it is who clients choose and the timing of when the attorney is chosen that is the problem.

In terms of the choice of attorney, I can tell you one thing after talking to hundreds of people on the phone that are looking for an attorney. Just in my own firm - some people respond better to me, some people respond better to my partner. We have different personalities and ways of approaching situations. For example, he is more formal; I am more casual.

So, why do people choose attorneys that they do not like? Do you think that if the attorney is rude they will berate your opposition into disappearing? Unlikely. For the most part, you want things to settle quickly and that does not happen when a jerk is negotiating on your behalf. Spend a little time. Even if your issue is pressing, find someone that you like.

You can bargain shop for the best deal, but remember that you get what you pay for. Look at where they went to law school and when the attorney graduated from law school. This is public information – www.calbar.ca.gov. (By the way, don’t even get me started on LegalZoom. Long, painful sigh.) Google them!

Interview your attorney. Call at least three people before you decide. Ask lots of questions if you get a free consultation. We are ready for your questions. Ask about flat fees, ask about billable rates, ask how quickly you will get your work product. If you do not like the attorney from the start, the attorney will not grow on you when they bill you $300 an hour. I promise. Find someone who is a problem solver and not just an issue spotter. Find someone who returns your call in 24 hours.

The other reason that I believe people hate attorneys is that people choose their attorneys (most of the time) when something has already gone awry and now they are angry that they have to throw money at a problem so that they can fix it. Why not come to an attorney before the problem? Why not show up when you are happy? You will probably make a better choice if you are not angry that you have to be there. Sometimes this is not an option, for example, car accident/personal injury cases. But usually, you could have chosen when you did not have to choose. For example, have a business attorney read a contract before you sign it to point out problematic clauses. You may be happy you did in six months when you need to terminate or there is a dispute.

Anyhow, after my Boot Camp class the other day, that lady came and apologized to me for giving me a hard time. The apology was not necessary. I totally understand the preconception. But, maybe all you clients out there should be looking now and getting while the getting is good. What proactive steps are you taking? Are you waiting? Do you think you are savvy enough to do it yourself? Maybe calling an attorney won’t be so bad.

And so, in closing, how do you get a bunch of lawyers to smile for a photo? “Say Fees.”
Sorry, couldn’t help myself.

Now, go and be productive and profitable.

Tina Loza is an attorney based in the Inland Empire. Tina and her husband have their own legal practice specializing intellectual property law (patents, trademarks, copyrights, domain name disputes, etc.). She also has three kids under the age of 3 and lives in Pomona, CA. For more info, go to www.lozaip.com .

The 5 C's of Credit: What They Mean to Your Business

2011-08-19T13:58:00.000-07:00

Businesses face any number of financial challenges. Often, it's as simple as needing financing to grow and stay competitive, expand business operations, purchase assets such as new equipment or a commercial building, or even consolidate and restructure business debts.
One of the most common questions among small business owners seeking financing: "What will the bank be looking for from me and my business?"

While each lending situation is unique, many lenders utilize some variation of evaluating the five Cs of credit when making credit decisions:

1. Character:

What is the character of the management of the company?
What is management's reputation in the industry and the community?

Investors want to put their money with those who have impeccable credentials and references. The way you treat your employees and customers, the way you take responsibility, your timeliness in fulfilling your obligations — these are all part of the character question.

This is really about “you” and your personal leadership. How you lead yourself and conduct both your business and personal life gives the lender a clue about how you are likely to handle leadership as a CEO. Your character immediately comes into play if there is a business crisis, for example.

As small business owners, you place your personal stamp on everything that affects your company. Often, banks do not even differentiate between “you” and “your businesses." This is one of the reasons why the credit scoring process evolved, with a large component being your personal credit history.

2. Capacity:

What is your company's borrowing history and track record of repayment?
How much debt can your company handle?
Will you be able to honor the obligation and repay the debt?

There are numerous financial benchmarks, such as debt and liquidity ratios, that lenders evaluate before advancing funds. You should become familiar with the expected pattern in your industry. Some industries can take a higher debt load; others may operate with less liquidity.

3. Capital:

How well capitalized is your company?
How much money have you invested in the business?

Lenders often want to see that you have a financial commitment and that you have put yourself at risk in the company.

Both your company's financial statements and your personal credit are keys to the capital question. If the company is operating with a negative net worth, for example, will you be prepared to add more of your own money? How far will your personal resources support both you and the business as it is growing?

If the company has not yet made profits, this may be offset by an excellent customer list and payment history. All of these issues intertwine, and you want to ensure that the lender perceives the business as solid.

4. Conditions:

What are the current economic conditions and how does your company fit in?
What are the trends for your industry, and how does your company fit within them?
Are there any economic or political “hot potatoes” that could negatively impact the growth of your business?

If your business is sensitive to economic downturns, for example, the bank wants a comfort level that you're managing productivity and expenses.

5. Collateral:

· Primary Source of Repayment

· Secondary Source of Repayment

Business cash flow will nearly always be the primary source of repayment of a loan. Lenders also look at what they call the secondary source of repayment such as business assets and the strength and financial support of guarantors.

Collateral represents assets that the company pledges as an alternate repayment source for the loan. Most collateral is in the form of hard assets, such as real estate, business assets or equipment. Alternatively, your accounts receivable and inventory can be pledged as collateral. The collateral issue is a bigger challenge for service businesses, as they have fewer hard assets to pledge.

Until your business is proven, you're nearly always going to pledge collateral. If it doesn't come from your business, the bank will look to your personal assets.

Keep in mind that when evaluating the 5 Cs of credit, lenders do not place equal weight to each area. Lenders are cautious, and one weak area could offset all the other strengths you show.

Debra Murphy is Vice President and Relationship Manager at Union Bank. She works with small to medium sized business in the Inland Empire and tailors financial products and services to help businesses grow, expand, and get to the next level.

5 Ways to Increase Profitability This Summer

2011-06-28T16:27:00.000-07:00

It is officially summer. The weather is hot, the kids are out of school and many business owners are gearing up for some time off. But while you may be thinking summer is time to relax a bit because business will likely be slow, now is actually an excellent time to evaluate profitability and figure out ways to increase it.

Don’t get me wrong. I’m not telling you to give up your vacation or cancel summer plans. But after you enjoy your R&R, regroup and ensure that strategies are in place for your business to achieve the profitability you desire. Let me put it another way. It’s time to make money, reach sales goals and finish the year strong!

I’ve interacted with several incredibly knowledgeable women business owners over the past few months and they’ve shared some great ways for increasing profitability. I want to pass along five tips for boosting profitability this summer.

1. Build profitability into your schedule.

Marley Majcher, CEO of The Party Goddess and author of “But Are You Making Any Money” says, “Look at your calendar and see what’s coming up. Block time for what gives you the highest return on investment.”

I love this tip, but if you’re like me, this may involve some shifting of a few calendar items, reprioritizing and perhaps simply saying no to requests that do not add to your bottom line. Or, as Majcher suggests, “Figure out what your goals are and get rid of garbage on your calendar.”

2. Become more efficient.

Sounds simple but this again may require you to really roll up your sleeves and dig deep to discover the things that are making you inefficient and limiting your profitability. Majcher recommends that as business owners, we should track our time. Time, after all, is an expense. So for every project you take on, track the time spent. Another tip for being more efficient is “Batch your tasks and don’t spend all day on email,” says Majcher.

3. Develop a rock star social brand.

Wouldn’t you like to have clients and customers clamoring for your products or services like fans enamored with a rock or rap star? According to Lisa Steadman, bestselling author, results coach and CEO of Woohoo, Inc., rock star branding is the next evolution of personal branding. To begin building a rock star brand, you need to embrace and celebrate your big mission—the premise behind your business—and then broadcast your message widely and frequently. Steadman says, “Shift your messaging to be more engaging, inviting and enrolling.”

4. Add multiple revenue streams.

Once you’ve established a rock star brand, leverage it and create multiple revenue streams. One idea is to consider writing a book. The fastest way to become an instant expert is to add “published author” to your resume. Whether you sell one book or a million books, simply having written the book catapults your credibility and leads to more sales. Another way to parlay your brand and make more money is to do speaking engagements. You’ve shown expertise online, so why not offer it in person? Consider adding training to your platform by offering seminars/webinars and workshops. With a celebrity-like brand, people will want to learn from you.

5. Ask for the business (or more business).

Seems obvious, but women often have an aversion to selling. We like the developing, creating, coordinating and managing, but selling, not so much. The trick is to not look at it as selling. Julie Steelman, Selling Mentor and author of “The Effortless Yes” says, “It’s a conversation and problem solving.” Your potential client has a problem and you can solve it. If the potential customer gives you an objection, don’t freak out. Steelman says, “An objection is just a vocalized thought about where the customer is in the decision process.”

I love that. And speaking of decisions, while you’re relaxing in the sun this summer and sipping fruity drinks with cute umbrellas, don’t forget to make the decision to be more profitable by year-end and put a few strategies in place.

HourGlass Art & Wine Open House Tomorrow

2011-05-23T10:18:00.000-07:00

NAWBO-IE to Honor Amazing Women in the Inland Empire

2011-04-20T08:55:00.000-07:00

Hosted by Inland Empire chapter of the National Association of Women Business Owners (NAWBO-IE), the Amazing Women Event awards banquet is an inspiring event that honors women business owners and community leaders who have achieved the success that many only dream about. The event takes place on Wednesday, April 27 at 6 p.m., at the Eagle Glen Golf Club, 1800 Eagle Glen Parkway, Corona.

KSGN 89.7 radio personality Brandi Lanai will be the AWE Mistress of Ceremonies.

Event News: Intellectual Property Workshop Tomorrow

2011-04-13T13:34:00.000-07:00

NAWBO-IE Corporate Sponsor Metropolitan Water District of Southern California presents “Intellectual Property and Business Law,” an exciting workshop designed for inventors that want to promote their ideas while protecting their legal rights. You'll not only learn what the differences are between patents, trademarks and copyrights, but you'll learn where each is valuable and how it plays into building your business. Networking follows the workshop.

Date: April 14, 2011
Time: 6:00 p.m. --9:00 p.m.
Location: Metropolitan's Headquarters at Union Station, 700 N. Alameda St., Los Angeles, CA
Registration: Click here.

The workshop is part of the “Managing Your Innovation” Series is a component of Metropolitan's Business Outreach Program. The workshops and networking events were developed to provide an opportunity for business, entrepreneurs, innovators, funding community, academia, students, scientists, universities, government agencies, engineers, emerging technologies, and the general public to network, discuss ideas, gain access to the funding community, and local, state, national and international government agencies, and discover new technology on a global scale.

Exciting Lead-Generation Workshop Tomorrow

2011-04-04T16:45:00.000-07:00

Come "Un-Wine" With NAWBO-IE

2011-03-29T18:48:00.000-07:00

Tina Loza To Be Presented Coveted ANITA Award

2011-03-28T23:13:00.000-07:00

NAWBO-IE is pleased to announce that Tina Loza has been chosen by chapter members as NAWBO-IE’s 2011 ANITA Award Winner! ANITA stands for: Amazing NAWBO Individual That Achieves.
The "ANITA AWARD" is the greatest honor a NAWBO-IE member can receive. The initials stand for "ACKNOWLEDGING NAWBO INDIVIDUALS THAT ACHIEVE" and was named after an outstanding past president who was instrumental in laying a solid foundation for this chapter.

Tina has definitely achieved many amazing things this year, while earning the respect of the organization's board as well as the members! She will be honored at AWE along with all of the other incredible awardees.

Congratulations to Tina on this well-deserved award!

NAWBO-IE's Annual Amazing Women of the Inland Empire Awards Banquet will be held on Wednesday, April 27, 2010, 6pm, at the Eagle Glen Golf Club Corona, California. Click here to register.

Maximize Returns: Consider Tax-Efficient Investments

2011-03-15T15:56:00.000-07:00

In investing, it’s not what you make that counts, it’s what you keep. We’ve all heard that a million times. But with today’s lower investment return rates, it becomes more important than ever. You don’t want to drag down your investment returns with taxes that you could avoid. Tax-efficient investments are those that attempt to minimize tax liability while at the same time maximizing returns. They include the following:

Tax-deferred accounts. IRAs, 401(k)s, and other types of retirement plans. These funds aren’t required to pay annual taxes on earnings.

Individual stocks. These would include both growth stocks held long-term and dividend-paying stocks. Because of the preferred tax treatment given to long-term gains and dividends, the maximum tax rate on these investments is 15% (0% on taxpayers in the 10% and 15% tax brackets).

Municipal bonds. If you purchase bonds, either individually or in a mutual fund, that are obligations of your resident state, you’ll pay no taxes on the interest generated by those bonds, possibly making your after-tax return greater than with a similar taxable bond.

Tax-efficient mutual funds. These are funds actively managed by professionals who pay attention to the tax ramifications of their trading. Generally, turnover is low, and long-term capital gains are favored over short-term gains.

Index funds. These funds mimic a market benchmark. Since they don’t do much trading, most gains are long-term, and fund expenses are lower than normal.

Exchange-traded funds. ETFs are bundles of securities that track various indexes such as the S&P 500. ETFs trade like stocks, but act like mutual funds. Since they are passively managed, they tend to have low fund expenses.

You’ll also want to remember to rebalance your portfolio at least annually to clear out your losers (and offset them against gains), making your portfolio as tax-efficient as possible.

Phoebe Vausher-Frankeberger is a partner at Frankeberger Vausher + Co., CPAs, a full service public accounting firm. She is a Certified Public Accountant and holds a MS degree in Taxation. For more information, visit www.FVCPAs.com

3 Inexpensive Ways to Grow Your Business

2011-03-15T15:31:00.000-07:00

Everyone is watching their budget these days, thinking about how we can grow our business in the most inexpensive ways. The answer is to receive more referrals. The fastest, easiest, and most inexpensive way for you to earn a lot more money, work less, and enjoy your life is to get more referrals. So, why aren’t you getting more consistent referrals from your clients and colleagues? You probably already provide excellent customer service, offer a great product or service, and have a good reputation. The key is to leverage all of the aforementioned and employ the following three inexpensive ways to grow your business:

1) Ask for referrals. If you aren’t, it is time to get your “Ask in Gear.” When is the best time to ask for a referral? It’s when your customer says, “Thank you.” Ask that satisfied client, “Who do you know that would benefit from my product or service?” Now wait and allow some time for him/her to think about whom that will be. Ask for an introduction with a phone call… and ask them to call right then. If it’s a neighbor, ask to walk over there for the introduction in person. Asking may seem a bit awkward at first, but you’ll get over it when the referrals start rolling in.

2) Offer clients a referral incentive. If it has been a while since you have connected with your previous clients, it is time to remind them and re-energize them to refer you with your referral incentive plan. If you don’t have a plan, then it is time to create one. Offer additional products/services at a discount or for free, or some other incentive that will motivate them to remember and refer you.

3) Establish a referral partnership. Having a referral partner is an excellent method for getting referrals. A referral partner knows your business well and can be relied upon to send you a steady stream of high-quality referrals. As a partner, you reciprocate and send your partner quality leads as well.

Getting referrals is a lot like working out; you need to make a plan, be committed, and then go do it over and over again. When you experience the desired results, you’ll know it has been worth it. Remember, referrals are the least expensive and most effective way to grow your business.

Laura Bruno is a trainer, speaker, referral expert, and a Certified Professional Behavioral Analyst. She is the owner of the Referral Institute SoCal. She can be reached at 951-699-2558 or visit http://www.referralinstitutesocal.com/

Unleash the Power of Color in Your Wardrobe

2011-02-14T07:24:00.000-08:00

Did you know that most women wear only 20% of their wardrobe 80% of the time?

Why is that? It probably has a lot to do with how good one feels in a particular outfit. Break that down a little more and it has to do with how good one feels in a particular style. Break that down still more, and it has to do with how good one feels in a certain color.

Color can be magical or it can be detrimental. Seeing a splash of color emerge from a mostly monochromatic group (black is so popular…) is like a breath of fresh air. But if the color is the wrong shade for our skin tones, you will likely appear sickly and sallow. Rather than projecting a put-together look, the “off” color now translates that you are not at the top of your game. Silly, but sadly true.

The Power of Color

So, let’s address the power of “color.” By dressing within a particular color palette, shopping will be easier, will save time and will prove cost effective. You will save time by not trying on every piece that catches your eye; you will only select those that actually work with you skin tones. Those colors will be your personal best because they are in your particular color palette. No longer will you bring home “mistakes” that only go with a few things, or don’t go with hardly anything at all. Every piece you purchase will coordinate with existing pieces and easily build your wardrobe.

How does color work exactly? When you wear color near your face, the light reflects it upwards. This can cast flattering shades, which creates a very healthy tone on your skin. Your eyes sparkle and radiate energy. Or, if it’s the wrong shade of color, dark shadows will appear under your eyes, your skin will appear blotchy and uneven, and sometimes your eye color practically disappears. Thus, the importance of comprehending the undertone of your skin shade and what is the best color palette for you.

Communicating Non-Verbal Messages

There is also a psychological aspect to color and the colors you wear can communicate non-verbal messages of all kinds. Soft and light tones, for example, will make you appear approachable and friendly. A red top in the right shade will help give you the confidence you need when facing a stressful situation. Conversely, wearing a color that is “not your color” or unattractive with your skin and eyes, can make you appear harsh and ever unapproachable.

Take Account Your Skin Tones

Once you know your most flattering colors, you can apply this knowledge to your jewelry and make-up. And yes, consideration of metals in jewelry does matter. If one’s skin tone is cool, select silver and pewter metal jewelry. If you have warm skin tones, gold and copper metals will look best. How do you know if you have cool or warm coloring? The expertise of an image and color consultant can easily answer that question.

What’s in your closet? Are you wearing everything in your closet or just your “feel good” outfits?

Peggy Ricks, founder of First Impression, a personal image and color consulting business, has been a California Certified Image Consultant for almost thirty years. In addition to individual private consultations, she has taught classes, given seminars to business organizations, and conducted workshops for women’s groups on the art of dressing according to a particular color palette. She graduated from Chapman University, obtaining a Bachelor of Arts Degree in Home Economics, with an emphasis on textiles. She obtained her certification as an Image Consultant through the fashion institute, Upstairs Downstairs Inc.

Contact Peggy at (951) 529-6869 or visit www.idoyourcolors.com

Motivate Yourself When You Don’t Feel Like It

2011-02-12T17:07:00.000-08:00

The football player has it easier than we do on this one. His motivation is his desire to be a starter. Other factors can play into that. Maybe he wants more money or a better contract, or more security. Or maybe he just wants the fame! That's cool. Why not? That will sure get a guy off his butt in pursuit of it!

For us (business owners), it's a bit trickier. But we can start by setting daily goals. Be realistic. You can reach five potential clients. Maybe not 25!

In football, the coaching staff provides these goals for him. But a smart coach also provides another motivator: a reward. So, motivating yourself also means rewarding yourself.

I love watching television. I've always loved it. When I started my business, I worked from home: a studio apartment. The television was right there in my “office” and I made marketing phone calls during the commercials. Today, I would never think of turning on the television during the work day. However, I am still the same person motivated by the same things. I set a goal of a certain number of calls and appointments and promise myself my favorite TV show, which I've TiVo'd, providing I meet my goals.

You need to discover what motivates you to make the calls, to do the discipline. It may be an afternoon movie, a day at the park, or a massage. Be careful if you just thought about Haagen Dazs. For some of us, ice cream is a double-edged sword. It might not be so rewarding long term.

Most of the time, you can be enthusiastic because you like what you do. But what if you don't feel like it one day? Then, what do you do?

You fake it.

You fake it ‘till you make it. It's the only way to conscious competence. This is the discipline part. What about the mornings when you get up in a negative frame of mind? Before I get out of bed in the morning, I prop up (so I don't fall back to sleep) and ask myself these five morning questions:

What am I excited about today? Look out; the first things your mind will come up with are all the negative things you are not excited about: making the call to that person, writing that report. Thank your mind politely for sharing and ask yourself the question again. Eventually you will come up with something, even if it is: “Today is Friday.”

What am I proud of today? This involves looking back into yesterday's activities. Your mind will want to bring up regret, something you should have done, if only you could have done. Definitely not something you're proud of. Again, politely thank your mind for sharing and ask the question again. Remember, it can be as simple as being proud that you helped your secretary with the phones while she finished a project.

What am I grateful for today? More is better on this one: counting your blessings can chase the blues away.

What am I committed to today? This is where the rubber meets the road. You will measure your results at the end of the day. This can be challenging. Some days you just don't feel like doing anything you “should.” Sometimes the commitment is simply to do it anyway and “fake it till you make it.”

Who loves me? Whom do I love? I know these are two questions. I like them together. They wrap up your self-motivation session on a very upbeat note.

By the time my feet hit the floor, I have “hit the ground running.” My head is in a positive place.

In the end, convincing yourself to get started, even when you don't want to, doesn't have to be pretty. So what? Everything doesn't have to go exactly the way you see it in your mind. The process is allowed to be ugly. Football players know this as well as anyone. “Whatever works” is often heard on the sidelines. There are no points given for neatness or etiquette or style. A sloppy win is better than a pretty loss.

So even in these ugly times, someone has to score a win. Might as well be you.

Mimi Donaldson is the author of Necessary Roughness: New Rules for the Contact Sport of Life (2010) who empowers and assists people in realizing and achieving their full human potential. A renowned speaker, trainer and author, she’s been presenting at Fortune 500 companies for more than 20 years, energizing and motivating people on stress reduction, time management, leadership and communication. A Masters graduate of Columbia University, she previously worked as a Human Resources trainer for Northrop Aircraft, Rockwell International and Walt Disney. Mimi is also the co-author of two previous books, Bless Your Stress: It Means You’re Still Alive! (2006) and Negotiating for Dummies (1996). Visit http://www.mimidonaldson.com/ or call 310.557.0229.

Plan for Yourself, Your Business and for Your Loved Ones

2011-02-12T16:10:00.000-08:00

Estate Planning FAQs

“I am not rich. Why do I need an estate plan?”
This is a question I hear on a regular basis as an estate planning attorney. The answer is simple - everyone needs an estate plan! What “type” of estate plan you need depends on your unique situation. A customized estate plan should take into consideration your unique family situation - your assets, your goals, and the values you would like to pass on to your beneficiaries. One size does not fit all when it comes to creating an estate plan.

When we think about estate planning, we immediately think of death. However, a proper estate plan will help protect you and your family while you are alive as well. Thanks to modern health care, people are living longer. This means there is a greater likelihood that at some point in our lives (hopefully later than sooner) we may be impaired physically, mentally, or even incapacitated.

Think about it...what would happen if you were unable to make medical or financial decisions for yourself? Have you discussed your wishes with your family? Who would pay your bills? Who would run your business? Do they have access to your financial accounts? Would you want to be kept alive on life support? Who would you trust to take care of your children? All of these important questions can be addressed when you create your customized estate plan.

“What is typically included in an estate plan?”
Your unique family and financial situation will help determine which “tools” you will utilize to “build” your customized estate plan. Common “tools” include wills, trusts, financial powers of attorney, property agreements, medical authorizations, and advance health care directives. Regardless of your financial situation, everyone should have an advance health care directive.

“What is an advance health care directive?”
An advance health care directive provides directions as to actions that should be taken (or not taken) regarding your health in the event you are no longer able to make decisions due to illness or incapacity. The advance health care directive also appoints a trusted person to make such decisions on your behalf.

“What happens if I don’t have time to create an estate plan?”
If you don’t take action to create your own customized estate plan, California legislators have already created a plan for you! We refer to this “plan” as the California Probate Code. When you die without a customized estate plan, your assets will be distributed per the California Probate Code and may need to go through probate.

“What is probate?”
Probate is the process by which legal title of property is transferred from a decedent's estate to the beneficiaries.
California legislators have also determined how much it will cost your estate to go through probate. The California Probate Code sets the statutory fees for attorneys and executors of the estate. The fees are 4% of the first $100,000 of the estate, 3% of the next $100,000, 2% of the next $800,000, 1% percent of the next $9,000,000, and 0.5% of the next $15,000,000. For estates larger than $25,000,000.00, the court will determine a reasonable fee.

PROBATE ESTATE VALUE                      ATTORNEY & EXECUTOR FEES*

$100,000                                                      $8,000

200,000                                                        $14,000

500,000                                                        $26,000

1,000,000                                                     $46,000

3,000,000                                                     $86,000

5,000,000                                                     $126,000

*The attorney receives one-half of the probate fees and the executor receives the other one-half. In complicated probate cases, the court has the discretion to approve fees that are higher than those listed above.

Furthermore, the statutory probate fees are based on the fair market value of the estate. This fair market appraisal value does not take into consideration mortgages or other debts. Therefore, the probate estate value may be higher than the actual equity that the deceased owned in the property.

In addition to the fees paid to the attorney and the executor, the estate must also pay court filing fees, publishing fees, and other costs associated with administration of the estate. Yikes!

“Can a will avoid probate?”
No. A will does not avoid probate. Even if a person executes a valid will, the will must be admitted to probate at death. A will contains provisions as to who will inherit the decedent’s assets and who will be in charge of administering the estate (the executor). A will has no legal effect until death and assets passing pursuant to a Will require probate administration.

“How can I avoid probate?”
There are several ways to avoid probate. It is important to work with your attorney to create an estate plan that is customized for you and your family. One way to avoid probate is to create a revocable living trust.

“What is a revocable living trust?”
A revocable living trust is a trust created during a person’s lifetime. It is essentially a contract between the "grantor" (the person contributing the assets) and the "trustee"(the person or entity that is going to manage the assets). Often the grantor and trustee are one in the same. A trust can also be “revocable” which essentially means the trust can be changed, amended, or ultimately revoked at any time while the grantor is living. Once the grantor dies, the trust becomes irrevocable.

A revocable living trust is created for many reasons – to avoid probate, to provide for incapacity of the grantor, to safeguard assets for minor children, to save money on taxes, to protect an inheritance, to ensure financial privacy, or to set up long term asset management.

If your business is incorporated or organized as a limited liability company (LLC), a living trust can help provide a smooth transition of the business in the event of your incapacity or death. In order for this to occur, the share certificates or membership certificates must be titled in the name of the trust. This is referred to as “funding” your trust. As a business owner, it is important to work with your attorney and CPA to coordinate your business succession plan with your individual estate plan.

A revocable living trust can also be an important “tool” if you have minor children. The California Probate Code states that children have full access to an inheritance once they reach the age of 18 – regardless of their maturity level or financial knowledge. A living trust can be designed in a manner that allows you to determine when they will receive their inheritance. For example, you may wish for your child to receive a partial inheritance at age 25 and the remainder at age 30. Or you may dictate to your trustee that the inheritance should be distributed only after your child reaches a certain milestone – like graduating college. These provisions can be as restrictive or as liberal as you feel is appropriate for your individual child. After all, you know them best!

Creating an estate plan will protect yourself, your business, and your loved ones from the dreaded unknown. Take action! Create a plan! Create peace of mind!
© 2011-Present Law Offices of Kimberly Lessing, APLC. All rights reserved.

Kimberly Lessing is an attorney dedicated to providing customized legal solutions to individuals, families, and businesses. Her practice areas include Estate Planning, Trust Administration, Probate, and Business Law. Ms. Lessing works with clients and their financial team to “plan, provide, and protect” their estates, businesses, and most importantly, the ones they love.
To learn more about creating your unique estate plan, please contact the Law Offices of Kimberly Lessing at (951) 279-6626 or visit http://www.lessinglaw.com/.

Awesome Event Tomorrow: Sales Coach Now Live 2011!

2011-02-03T08:05:00.000-08:00

Are you Ready to Take a Quantum Leap in Your Sales in 2011?

February 4, 2011

8:00am to 7:00pm

The DoubleTree Hotel in Ontario, California

In ONE DAY, you will discover…

The Five Steps you need to follow to take a Quantum Leap in your sales in 2011!
Proven Sales Strategies to take your business to yet another level!
The mindset and tools you need to grow your business!
How to achieve RockStar status in your industry!
Wealth Building Strategies so you can be in control of your future!
Strategies from Ursula’s students who made Quantum Leaps in 2010!
Facilitated networking opportunities! And MUCH MORE!

Guest speaker Loral Langemeier is one of today’s most dynamic and pioneering money experts. Craig Duswalt, creator of the RockStar System For Success – How to Achieve RockStar Status in Your Industry, will share tips to make YOU a rock star in your business. Plus a distinguished list of panelists who will reveal a wealth of information.

Register now at http://www.salescoachnowlive.com/

Top 5 Tips for Effective Time Management

2011-01-17T17:53:00.000-08:00

One of the questions I am frequently asked is, “How do you get it all done?” Time management was not always one of my strengths, but over the years I have developed my time management muscle and you can do the same thing by applying the tips I am about to share!

But before I do that, I want you to take a quick assessment of yourself. How is a lack of time management negatively impacting your business? How is it holding you back? Write down your answers. What would your business and your life be like if you completed everything you wanted to complete every day?

My guess it is would be really different! Although time management feels like work, it is really the KEY to having more Freedom in your business. Christine Kloser, my former coach and author of The Freedom Formula, helped me understand that better time management would give me the time I desired to have the business of my dreams. And she was right!

My days don’t always go as planned, but by following the tips below, I am able to get my “to do’s” done so I can get to the things I love to do! And, I am able to sell MORE so I can live the life that I choose.

My Top 5 Time Management Tips Are:

• #1 Create your Ideal Schedule

You’ve heard me say it before, and I will say it again. You MUST have an Ideal Schedule. Without it, you are like a ship lost at sea, waiting for the next “thing” to beckon to you. An Ideal Schedule will allow you to take control of your sales results as well as your life. Most importantly, be sure to schedule time off as well as time to do business!

• #2 Make Selling a Priority

Once you have an Ideal Schedule, then you can make selling a priority. Selling is the first thing we like to procrastinate on because most people don’ t want to pick up the phone and make calls. But just by putting it on your schedule, you will be MUCH more likely to do it!

• #3 Turn E-Mail and the Internet Off

We all know this, so why do we keep our email open and our internet on? I think, deep down, we would rather be distracted then make sales calls or focus on what we need to do, so it is tempting to keep it all available. But if you want to increase your productivity, turn it off. Enough said.

• #4 Take Breaks

Add breaks to your Ideal Schedule. If you don’t, it is easy to just work, work, work until you can’t work anymore. But that’s not healthy and you already know that. So, take breaks when you need them, just time them so you know when it is time to get started again!

• #5 Have a “To-Do” List

Statistically your productivity goes up 25% when you use a “to do” list. So, why wouldn’t you? It’s an easy way to begin managing your time and to get those things done that need to get done.

Action Item: Print this list out and keep it in a spot you will see it daily. Review it whenever you feel overwhelmed or are procrastinating!

Things aren’t always to go as planned. But if you don’t have a plan in the first place, then you are planning to fail. Create your Ideal Schedule and follow it. I also recommend that you share it with your family so they know what you are up to. I promise you it will make a big difference in your business—and in your life!

Ursula Mentjes, M.S., ACC is the founder of Sales Coach Now and the author of Selling with Intention and One Great Goal. Ms. Mentjes has helped clients double and triple their sales revenue in as short as two months! If you want to do the same, then visit her web-site at www.salescoachnow.com and subscribe to her e-zine by clicking on the sign up box and typing in your email address. You will receive a FREE downloadable MP3 recording, "7 Ways to Sell More in a Doom and Gloom Economy". Or, join her at Sales Coach Now—LIVE 2011 for the re-release of Selling with Intention through Morgan James publishing! She will be sharing the stage with Loral Langemier, Craig Duswalt and other experts. www.salescoachnowlive.com. Ursula currently serves as the NAWBO-CA Vice President of Corporate Partners and Economic Development, is Past President NAWBO-IE and Past President of NAWBO-U (Inland Empire).

How to Turn Your 2% Payroll Tax Holiday into Greater Tax Savings

2011-01-16T16:52:00.000-08:00

The largest new tax break for individuals was enacted on December 17, 2010. The one-year payroll tax reduction is found in the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The act provides a 2-percentage-point payroll/self-employment tax holiday for everyone subject to the Social Security tax.

How Social Security and Medicare are Calculated for an Employee

Social security is computed on the first $106,800 of the employee’s wages at 6.2%. Medicare is computed on the entire wage at 1.45%. The employer also pays into the system for each employee utilizing the same rates. Social security plus Medicare is known as FICA. The FICA tax totals 7.65% on wages up to $106,800 and then drops to 1.45% on wages in excess of $106,800.

Under the 2010 Tax Relief Act, for calendar year 2011 the employee (NOT the employer) social security rate will be reduced to 4.2% and the total FICA tax will be 5.65% on wages up to $106,800 and 1.45% on wages in excess.

For example, Louie has wages for 2011 of $50,000. If the Tax Relief Act was not enacted, Louie’s FICA tax for 2011 would be $3,825 (7.65% x $50,000). Under the Tax Relief Act, Louie’s FICA tax for 2011 is $2,825 (5.65% x $50,000). That is a savings of $1,000 ($3,825 - $2,825).

The maximum reduction in FICA tax is $2,136 ($106,800 x 2%). For a married couple, each with wages of $106,800 or more, their maximum reduction would be $4,272 ((106,800 x 2) x 2%).

Use the Tax Saving Calculator to calculate your potential tax savings.

How to Maximize the 2% Payroll Tax Holiday as an Employee

If you are not currently contributing the maximum into your 401K plan or any other defined contribution plan, this is a great opportunity to maximize the 2011 payroll tax holiday.

Let’s catch back up with Louie who earned $50,000 of wages in 2011. He has been contributing 6% of his wages to his 401K plan totaling $3,000 ($50,000 x .06). The contribution is not subject to federal (and possibly state) income tax, so Louie would only recognize $47,000 in income on his 2011 tax return. For 2011, Louie would be in the 25% marginal tax bracket (considering no other adjustments). His $3,000 contribution to his 401K would represent a $750 tax savings ($3,000 x 25% marginal tax rate).

What if Louie increased his 401K contribution by the 2% payroll tax savings to 8% (6% + 2%)? His 2011 401K contribution would total $4,000 ($50,000 x 8%). His $4,000 contribution would now represent a $1,000 tax savings ($4,000 x 25% marginal tax rate); an increase of $250 ($1,000 - $750). The $1,000 savings from the payroll tax holiday calculated above has now increased to a $1,250 in tax savings ($1,000 + $250).

Here is a link to that calculates 401K Tax Savings. You will want to have your tax return available.

What if you are not eligible to contribute to a defined contribution plan or your employer does not offer a plan? You may be eligible to set up a traditional IRA and receive the maximizing benefit.

How Social Security and Medicare are Calculated for the Self Employed

The Self-Employment Contributions Act (SECA) imposes two taxes on the self-employed as mentioned above. SECA taxes apply to “net earnings from self-employment” greater than $400. Social security is computed on the first $106,800 of the net earnings at 12.4%. Medicare is computed on the total net earnings at 2.9%. Social security plus Medicare is known as SECA and the total SECA tax on net earnings up to wages $106,800 is 15.3% and drops to 2.9% on net earnings in excess of $106,800.

Under the 2010 Tax Relief Act, for calendar year 2011, the social security portion of the SECA tax will be reduced to 10.5%. This will reduce the total SECA tax to 13.3% (15.3% - 2%) on net earnings up to $106,800 and 2.9% on net earnings in excess of $106,800.

For example, Buddy has net earnings for 2011 of $50,000. If the Tax Relief Act was not enacted, Buddy’s SECA tax for 2011 is $7,650 (15.3% x $50,000). Under the Tax Relief Act, Buddy’s SECA tax for 2011 is $6,650 (13.3% x $50,000). That is a savings of $1,000 ($7,650-6,650).

The maximum deduction in SECA tax is $2,136 ($106,800 x 2%).

To receive the benefit of the SECA tax rate reduction throughout 2011, the self employed individual must apply the reduction in figuring his or her quarterly estimated tax payments because the IRS will presumably reflect the reduction in 2011 Form 1040ES, Estimated Tax Voucher Coupon for Individuals.

Use the Tax Saving Calculator to calculate your potential tax savings. Instead of entering “Annual Salary,” project your 2011 net earnings from self employment.

How to Maximize the 2% Payroll Tax Holiday as Self Employed

If you are not currently contributing the maximum into your business’s 401K plan/Solo 401K plan or SEP-IRA, this is a great opportunity to maximize the 2% SECA tax holiday.

Let’s catch back up with Buddy who had net earnings of $50,000 in 2011. Buddy has been contributing 6% of his net earnings to his solo 401K plan totaling $3,000 ($50,000 x .06). The contribution is not subject to federal income tax and is an “adjustment to income,” which lowers adjusted gross income (AGI). For 2011, Louie would be in the 25% marginal tax bracket (considering no other adjustments). His $3,000 contribution to his SEP IRA would represent a $750 tax savings ($3,000 x 25% marginal tax rate).

What if he increased his SEP IRA contribution by the 2% SECA tax savings to 8% (6% + 2%)? His 2011 SEP IRA contribution would total $4,000 ($50,000 x 8%). His $4,000 contribution would now represent a $1,000 tax savings ($4,000 x 25% marginal tax rate); an increase of $250 ($1,000 - $750). The $1,000 savings from the 2 % SECA tax holiday calculated above has now increased to a $1,250 tax savings ($1,000 + $250).

Here is a link to that calculates 401K Tax Savings. You will want to have your tax return available.

Other Maximizing Ideas

The payroll tax or SECA tax savings can also be used to pay down credit cards or a mortgage. This would reduce interest paid.

Or, you can go out and buy something and do your part in boosting economic growth, which is the full intention of this new tax savings provision.

1099 MISC – Reporting Requirements & How-to in QuickBooks

2010-12-22T17:12:00.000-08:00

On December 15th the Senate passed the 2010 Tax Relief Act and extended the Bush-era tax cuts. However, the House still needs to knock heads for approval. So, I am holding off on presenting the effects of the Tax Relief Act until it has “officially” passed.

Since I get a lot of calls in January about 1099’s MISC, I decided that this would be a great topic for year end. For those who don’t know, a 1099 MISC is a tax form used to report miscellaneous income, including income earned as an independent contractor.

To begin the process, you must obtain a completed W9 from the individual who will be receiving the income. Ensure that the name is the individual’s name, not the business name. The business name has a separate line. However, the business would be correct for a partnership, limited liability company or corporation.

Who gets a 1099? Individuals, partnerships and most limited liability companies would be candidates if they meet the income criteria. S-Corporations and C-Corporations do not generally receive 1099s.

Due dates for the 1099-Misc are:

To the Recipient – File Copy B is due January 31. This due date is extended if you are reporting payments in boxes 8 or 14.

To the IRS – File Copy A is due February 28. If you file electronically, the due date is March 31. To file electronically you must have the appropriate software.

You can order 1099 forms from the IRS and they are FREE!

Box 1 – Rents $600.00 or More:

For real estate rentals paid for office space, machine rentals.

Box 2 – Royalties $10 or More:

For gross royalty payments made, which are usage-based payments made by the Licensee to the Licensor for use of intangible property (music, intellectual property, franchise payments).

Box 3 – Other Income $600 or More:

For award money or merchandise (report at fair market value), sweepstakes prizes or game show winnings received. This would not be used for reporting gambling winnings; a W2G is the form used to report those winnings.

Other Income would also include monies received for participating in medical research studies, punitive damages. There is actually a comprehensive list on the IRS web site..

DO NOT include in box three payments made for services received. This is considered non-employee compensation and would be reported in box 7.

Box 7 – Nonemployee Compensation $600 or more

For someone who is not your employee that you paid for services in the course of your business. This non-employee can be a sole proprietor, a partnership, a limited liability company (LLC) or an attorney. Examples of payments made that would be subject to non-employee compensation reporting would include:

Professional Services: This is your independent contractor: accountants, architects, consultants, computer guy/gal, cleaning person, coach, etc.

Travel reimbursements: Paid to an independent contractor (IC) and IC did not report the expenses under an accountable plan. An accountable plan is when an expense report is completed and receipts are presented for reimbursement.

Bartering of services between individuals in the course of their business: For example, I hired my client, ABC Flooring to install a new floor in my office. In exchange I will prepare his/her tax return. No money is exchanged, but this still holds as a reportable event.

Fringe Benefits to ICs: This may include a company car, health insurance, life insurance, free services, etc.

Legal Services: All attorney fees are reported regardless if the attorney is a corporation.

I only listed a few of the many reasons why you would report non-employee compensation on a 1099. Here is a complete list.

Box 14 – Gross Proceeds Paid to an Attorney

Report all gross proceeds made to an attorney during the course of your business even if the attorney is a corporation. Gross proceeds are different than fees in that gross proceeds are paid when a lawyer wins a settlement (the attorney’s cut).
As you can see, I did not cover every box on the 1099. For comprehensive instructions, visit the IRS web site.

The I's Have It: Inform Referral Sources

2010-12-21T18:06:00.000-08:00

One of the things that happens when people establish a referral network is that they don’t receive enough referrals. These people often believe that others aren’t doing their job. Sorry, but the truth is that if your referral network is not working the way you want or expect it to, it's your responsibility.

Have you informed people in your network about all of the products or services you have available? Have you provided them with your business cards, brochures, and other information? What are you doing to compel them to refer you? Your referral sources need to be informed so that they may educate those in their networks and refer the perfect prospects for your business.

Now, here’s the curve ball… Referral marketing is a two-way street. Do you make sure your referral sources know that you are interested in what they do, rather than just worry about how interested they are in what you do? Are you helping them in the same way you want them to help you? Are you really? Are you genuinely interested in their business? Do you know how to properly refer them? Are you referring them? Are you following up with each other on a regular basis?

It is your responsibility to inform your referral sources on what a good referral is for you and to make sure that you are trained on how to refer them. Responsibility is something people are sometimes reluctant to take. You're responsible for the actions other people take on your behalf. It's up to you to choose the right people, to set the tone for your business, to educate your referral sources about what you do, to demonstrate competence and integrity, and to maintain the effectiveness and strength of your referral relationships.

Only those individuals who recognize that they have to take responsibility are the ones who make this process work for them. What are you doing to properly inform and train your referral sources?

Laura Bruno is a trainer, speaker, referral expert, and a Certified Professional Behavioral Analyst. She is the owner of the Referral Institute SoCal. She can be reached at 951-699-2558 or visit http://www.referralinstitutesocal.com/

Let's Meet & Mix at NAWBO-IE's Free Fashion Show and Mixer...Dec. 7th

2010-12-01T10:53:00.000-08:00

KSGN 89.7 Hosts Christmas Concert

2010-11-18T16:57:00.000-08:00

Celebrate the Holidays with KSGN...

Sunday, November 28, 2010

KSGN is a NAWBO-IE Corporate Sponsor.

Inspired to Help “Aged-Out” Foster Youth

2010-11-12T11:43:00.000-08:00

When young people in foster care reach age 18, they suddenly find themselves on their own, without a home or a support system. These teens are “aging out” of foster care and typically have to fend for themselves. Often they have nowhere to go.

But in the Inland Empire, many are finding support and resources at Inspire Life Skills Training, Inc., a non-profit organization that provides housing assistance, life skills training, and education and employment support for youth aging-out of the foster care system.

Camplin Sets Up to Make a Difference

Inspire was founded by Kristi Camplin in 2005. When a social worker she knew expressed frustration with the lack of services for foster care youth who age out of the system, Camplin pondered about how she could help.

“I wanted to just be a mentor at first and then I realized that 70% of foster kids are homeless,” Camplin said. “I knew I had to do something about it.”

Armed with a degree in psychology, a background in sales and years of youth ministry experience, Camplin was ready to make a difference. She founded the organization on a shoestring budget of a mere $7,000. But with hard work and diligence Inspire soon had its first house, a safe home where program participants could live. Every year since then the organization has been able to obtain another house. Today, Inspire has four different houses; two for girls and two for boys. Currently eighteen youth are in the program.

Staggering Statistics

According to a new study from Chapin Hall, a policy research center at the University of Chicago, young adults who age out of foster care have higher rates of unemployment, homelessness and higher risk of being involved in criminal activity compared to their peers. Researchers tracked over 600 youth in the Midwest that aged out of foster care and the outcomes were dismal. At ages 23 and 24, less than half were employed. Approximately 25% were homeless. Nearly 60% were convicted of a crime and only six out of 100 completed a community college degree.

Inspire, based in Corona, is helping to break the cycle and improve these numbers in the Inland Empire with its unique program.

“Our program is education focused and no other program for aged-out foster kids has an education focus,” said Camplin. “We require that they go to school full-time and work part time. They must also go to professional counseling and meet with a mentor regularly.”

New Bill Passes in California: On the Right Track

Although the Chapin Hall study’s data is disheartening, the report does suggest that extending foster care until age 21 may be associated with better outcomes, at least in some domains.

In California, Gov. Schwarzenegger recently signed a bill (AB-12) extending foster-care support to young adults between the ages of 18 and 21. In a press release, Schwarzenegger said, the benefits will “ensure our foster youth have access to important resources as they transition into adulthood."

While the bill is certainly a step in the right direction, it will take some time to implement.

“The way I understand it, 2012 is when the age-out age will increase to 19,” Camplin said. “When it happens, I think for a lot of kids it will be great, especially for kids who are in foster homes and have been there a while. But the kids I get are the ones who have gone from home to home or live in remote areas where care and resources are not available.”

Camplin’s Inspire program has not only provided necessary resources and life skills training, but has been successful with many participants graduating from college, but the mission continues.

Inspire Life Skills Training Inc. is a NAWBO-IE affiliate organization. Inspire is completely privately funded, which means it receives no government contracts. On Dec. 7, 2010 NAWBO-IE is hosting a mixer at Casa de Salsa Mexican Restaurant in Claremont and proceeds from the event will be donated to Inspire.

Joan Burke Stanford is the owner of Jazzy Pen Communications. With a journalism background, she has more than 15 years of experience writing and editing for a variety of companies and organizations. Visit http://www.jazzypen.com/ for more information.

2010-11-12T11:16:00.001-08:00

How to Use Food and Nutrition to Succeed in 2011

2010-11-11T18:30:00.000-08:00

Often times we underestimate the power food and nutrition have on our business success. Would you be willing to pay closer attention and work harder on your nutritional needs if you know that food and nutrition can actually help you reach your goals and succeed in 2011?

Would you agree that when you start off the day with a well-balanced, nutritious meal you set the tone for your day? Just by eating, you are able to jump start your metabolism and begin your day with fuel in your system. The appropriate food in your body translates into the energy you need to think, create and move forward with your day. You will surely be able to focus and concentrate on the items you need to accomplish. A well fed mind and body paves the way for clear thinking and decision making. In a nut shell, when you eat the right foods, at the right times, systematically throughout the day, you’re giving your mind, body and soul what it needs. You are taking pride in yourself and nourishing the one person you need by your side in order to move your life to the next level of excellence.

Eating well gives you the energy, confidence, focus, clarity and the positive attitude needed to get from where you are to where you desire to be. You will become unstoppable in the New Year. Try it out; test it for yourself. For the next five days start your day with 4 egg whites, a bowl of oat meal with flax seeds and fruit, sliced tomatoes, a liter of water, your daily multivitamin and an antioxidant and see what happens. Not only will you become better and begin to reach all of your personal and professional goals, but the people around you will also become better.

Robin Allen is a Certified Nutrition Specialist and the co-founder of Necessary Nutrition, LLC. Robin and the Necessary Nutrition Academy have helped hundreds of people increase their energy, confidence and overall well being with their nutrition program. Visit www.Necessary-Nutrition.com for additional information on Robin and the Necessary Nutrition Academy.

How to Use Food and Nutrition to Succeed in 2011

2010-11-11T18:11:00.001-08:00

Top 5 Essentials for Closing Out Your Fiscal Year

2010-10-14T09:28:00.000-07:00

It’s that time of the year again. Are you prepared to close out 2010? Do you have your financial records ready for your CPA or tax preparer? If your answer is a resounding NO, then keep reading.

You told yourself after last year’s year-end fiasco that you wouldn’t let that happen again, but the next thing you know, it’s December 31st. Then it’s March 15th and your CPA or tax professional is screaming for your financial records. You’re stressed and end up having to file for extensions, which results in penalties and interest. Take charge this year! Break the cycle and take control by using the following “5 Essentials for Closing Out Your Fiscal Year.”

1.) Make an appointment with your CPA or tax preparer, and meet with your in-house accounting staff. Your CPA or tax preparer should provide you with a list of items that they will need to start working on your taxes. The sooner you and your accounting team can get started, the easier your year-end closing process will be.

2.) Organize your financial records, preferably by month. Make sure you have back-up for all transactions. Your files should be organized with financial reports on top, followed by bank and other statements with reconciliation reports, and your transaction back-up (check stubs, receipts, deposit slips, etc) attached.

3.) Do an inventory of your equipment and other assets. If any items were added or removed, your CPA or tax professional will need to know so they can properly account for them.

4.) De-clutter. Toss any items marked for follow-up that are not significant to your accounting. They are most likely expired or no longer relevant. If you are not sure, place them in a separate file to be reviewed by your CPA or tax preparer.

5.) Review your current accounting system with your team and make adjustments to put in place for next year. The point of this is to avoid the stress for next year by planning now; you will eliminate the hassle and create a system that puts you in control of your business.

Not sure where to start? Management Consultants of America, can help. We specialize in systems development. We can take your drawers full of financial records and prepare them for year end. Call (866) 380-0745 now for your free consultation or visit us at www.bookkeepingonsteroids.com

LaVonne Shields

QuickBooks Expert and Consultant, LaVonne Shields has over 10 years of experience working in several industries (including banking, real estate, construction and non-profit). Her specialized training and consulting services help to provide peace of mind and relieve stress when it comes to bookkeeping and accounting all while improving the bottom line. She is the author of “Bookkeeping on Steroids,” and an instructor for the Inland Empire Women’s Business Center in San Bernardino.

Customer Service Gives Little Guys Edge over Big Companies

2010-10-04T10:11:00.000-07:00

“Economic recovery will be powered by small businesses. Period," wrote Tina Loza, current president of the local chapter of the National Association of Women Business Owners (NAWBO), upon returning from the National Conference in Washington, D.C. She said, "The message during the conference was clear and coming at us from all sources, Nancy Pelosi, Valerie Jarrett, and Karen Mills. They all had one clear, unwavering message...." Small businesses are the answer.

But small business owners need to start believing it and acting like it!

Recently after conducting a workshop on the topic of Small Business Marketing, a young woman approached me about a business she wanted to start. I was encouraging her with statistics and information, when she let out a big sigh and said, " Yes, but who will want to do business with my little company, when they can go to the big established company in town?" With a mixture of surprise and mild scolding, I warmly asked, "Girlfriend, have you not heard anything I've said in the last two hours?" She muttered, "I know, I know."

I pondered her comments as I drove home that night. It's one thing for business owners to hear all the "shoulds" of marketing techniques - the importance of having a plan, conducting research, formulating a target audience, determining your niche and value, and serving your customers through knowing their expectations. But it's quite another to actually apply and live it.

Let me enlighten you with the grim statistics: 50 percent of small businesses fail within the first five years. That's not even counting the hundreds more that never even get off the ground. Several reasons contribute to their failure. Lack of planning is a major factor. And business owners don't fully grasp that they have a major competitive advantage: their small size. This becomes the basis for providing personalized customer service.

Small businesses do themselves and their businesses a disservice by not knowing enough about their customers and what those customers expect. A few years ago, Bain & Company conducted a study of 382 companies, revealing some interesting findings: 80 percent of the companies surveyed believed their customer service was already exceptional. And did their customers agree? In fact, only 8 percent of these same companies' customers rated their customer service experiences as "superior." It sounds like someone is out of touch --and it's not the customer.

Small businesses have the opportunity to learn from this study to leverage their competitive advantage. Here's how:

Understand that everything you do as a business owner shows your commitment to customer service, from answering the phone to delivering the invoice.
Learn what customers want; learn what they expect. Remember that a basic, human need is to feel important and respected. How can you deliver this for your customer --even in a small way? A handwritten Thank You card produces a big impact.
Apply the "WIIFM" concept: know that your customers are asking "What's In It For Me if I continue to do business here?" Ask yourself, "Would I want to do business here?"
Deliver consistency of product and service. Train your employees. Use yourself as the model.
Create systems and standards so that excellent customer service becomes the norm. Customer loyalty is the reward.
Document great customer service moments. Use these to inspire your staff.
Embrace customer service. Adopt these practices and begin building a stronger reputation with your customers. Those who provide world-class customer service will stand out from the crowd.
Be a part of jumpstarting the new economic recovery.

Carolyn Ortman is owner of CKO Marketing & Training Group and is a 17-year member and past president of the American Marketing Association - Inland Empire. She can be reached at 951-784-9174 or www.ckogroup.com. Carolyn also teaches Customer Service Management at UC Riverside Extension.

Events Manager vs. Do It Yourself

2010-09-09T12:36:00.000-07:00

When there is a need for a significant event that relates to your business relations such as promoting products, services, recognitions, fundraising, and even supporting a foundation cause, the question will inevitably arise: Do I hire an event manager, use an assistant or do it myself?

Deciding on whether to hire an event manager versus doing it yourself requires critical thinking before making a decision.

Doing It Yourself

Due to economic reasons, many companies are looking at areas where they can cut costs and some executives believe they can put together an event themselves and eliminate some costs. Sure, you can choose a venue and get that secured, but what about all of the other important details? Did you get the necessary permits and approvals? You can search the Yellow Pages for vendors such as caterers, but can the resources advertising in the Yellow Pages capture your vision and purpose of the event? Will the service provided produce an event that saves time and makes the most of your money invested?

Getting Assistance from an Assistant

Assigning assistants and volunteers to handle social gatherings, whether large or small, is an option. However, managing an event is typically difficult for these individuals because they may lack the knowledge, skills and ability to succeed in producing an event within the budget. Often these individuals are assigned the task to plan an event and they do just that--they plan. They use unknown resources without knowing the vendor’s track record or their performance of previous events they serviced. Businesses are looking for an event to be produced effectively and efficient. Many times due to the lack of skills and experienced executive assistants end up exceeding the budget or under estimating services and supplies. These deficiencies ultimately can cause a stressful atmosphere that leaves a negative experience that is not memorable.

Outsourcing to an Event Manager

First, it is important to recognize the significant difference between an event manager and an event planner. Managers execute and planners plan. Event managers specialize in the execution and management of an event from beginning to end. Second, be cognizant of the fact that event managers are experienced professionals. Assets to their clients are their organizational skills and keen attention to minute details involved for producing large and small events. Effective communications skill with the key ability to listen for the client’s needs is extremely valuable. Certification in the field of event managing is a plus, but it is not always required. Other positive attributes include being sociable, friendly, efficient and creative.

Business clients and individuals use event managers for various reasons out of both desire and necessity. Definitely time and money investing is the main reason to have a professional event manager. The first reason is the simplicity of using one point person to organize, execute and implement an event. Planning large detail-oriented event needs assistance in managing from the beginning to the end is the second reason.

When weighing the pro and cons of hiring an event manager or doing it yourself, keep in mind that your company reputation could be at stake. Attendees remember excellent event as well as really bad events. So, you can assign an assistant or recruit volunteers or you can even use the yellow pages for your next event. But ask yourself, can these individuals and the yellow page service provider capture my vision and produce a memorable event? Can the resources, people and companies be trusted to use your time and make the most of your money invested?

Lynnette Coachman is a special event consultant and owner of enTRUST Event Management & Design. She has vast experience in helping organizations plan, organize the details and meticulously execute from beginning to end. enTRUST Management captures the client’s vision of an event, offers trusted resources, applies dedicated time and energy, while making the most of the client’s money. Need an event manager for your next event? Contact Lynnette at lynncoach@verizon.net

Revolutionary Nutrition Program Designed to Combat Illness, Disease and Obesity

2010-09-03T18:33:00.000-07:00

Riverside-based company Necessary Nutrition has created a revolutionary nutrition program designed to combat illness, disease, and fight obesity. The Necessary Nutrition University and Nutrition Program is a comprehensive program that takes a holistic approach to inspire lasting change.

Necessary Nutrition has collaborated with skilled professionals in the health, wellness and personal development industry to offer a program that integrates nutrition education, personal development and an action plan. The personal development side focuses on the discovery and management of self.

The Necessary Nutrition University begins with a full day interactive live seminar and continues for at least six weeks thereafter. After the seminar participants will begin their nutrition and accountability program. Each participant receives six weeks of custom nutrition plans, an accountability coach and six additional educational classes delivered online. In addition to the education and nutrition plans, attendees receive “Necessary Recipes,” a recipe book featuring healthy alternatives for common foods.

“The state of American health is outrageous and becoming more deadly as the days go by,” says Robin De-Ivy, founder of Necessary Nutrition. “If we remain on the current path healthcare costs will continue to skyrocket, death rates will rise and disability from mental and physical illness will become immeasurable. This program has been designed to address the many reasons why the majority of Americans are overweight.”

The next kick-off for the six week program will be Saturday, September 25th. During the actual seminar participants will receive four full meals, a live cooking demonstration, fitness class, education sessions and course materials.

According to one of the participants Kristi Cooke, “this program has had a significant impact on my weight battle. They addressed my emotional eating and helped me to uncover roadblocks I didn’t realize were holding me back. I have learned so much and by following the nutrition plan my weight is down, my sleeping patterns have improved and my energy level has increased.”

For additional information on the Necessary Nutrition University and Nutrition Program visit www.NessyNutri.com or call 1-866- 320-4164.

Necessary Nutrition, LLC was founded by Certified Nutrition Specialist, Robin De-Ivy Allen. Since 2007 Robin and Necessary Nutrition have helped hundreds of people drop more than 5000 pounds using food and education as their weapon.

Corporate Sponsor Southern Calif. Edison Presents Upcoming Workshop

2010-08-27T12:06:00.000-07:00

NAWBO-IE Corporate Sponsor, Southern California Edison, is hosting a high-value workshop as part of its 2010 Business Edge Workshop Series in the Inland Empire

How to Prepare a Winning Marketing Plan

Speaker: Michael J. Scotto

A "living" marketing plan is an important management tool of every business owner.

The workshop will cover:

A "how-to" approach to a sound marketing plan
Understanding the marketing "process" to effectively market any business
Tips and techniques on building a competitive edge
Establishing objectives, strategies, tactics...and more

Date: Wednesday, September 1, 2010

Time: 5:30 PM to 9:30 PM

Cost: No Charge--Dinner Provided

Location: Doubletree Hotel Ontario

222 N. Vineyard Avenue

Ontario, CA 91764

RSVP by August 30, 2010

To Supplier Diversity & Development at supplierdiversitydevelopment@sce.com or call 800-275-4962

Accessing Capital in a Tight Credit Market

2010-08-24T12:47:00.000-07:00

Many business owners and prospective business owners are discussing how difficult it is to access capital in this market. The fact is the credit market is tighter than it has been in a number of years. Banks are concerned about regulators; therefore, they are requiring more documentation and standards are tightening. However, accessing capital for growth and expansion, for commercial real estate purchases and for business acquisitions is achievable. Consider the following to position your business for accessing capital:

Know Your Financial Health – Know what’s coming into your business (revenue) versus what you are spending (expenses). No longer can that responsibility be solely delegated to a bookkeeper. Business owners must be clear on their company’s financial health and projections for the future. A healthy balance sheet and income statement that shows positive trends or clear adjustments for sales shortfalls is essential. In this market, don’t hesitate to make adjustments that will improve your bottom line. Waiting too long could negatively impact efforts to access capital.
Be Attentive to Accounts Receivables (A/R) – Business owners often obtain credit from suppliers and provide credit to customers. Today, CEOs must be attentive to the accounts receivable cycle of their customers. When A/R has not been received in 15 days in a 30-day cycle, a call should be made to the customer. Reducing the A/R cycle improves a business’s cash flow, which is essential in accessing capital.
Explore SBA Resources – The U.S. Small Business Administration (SBA) has several programs to assist small businesses in working with banks. SBA provides a guaranty program and a direct lending program. The guaranty program provides a 75-85 percent guarantee to banks for providing capital to small businesses and the direct lending program funds up to 40 percent of project costs for real estate, equipment or tenant and leasehold improvements. In this market, this proves to be a valuable resource to lessen the credit risk to banks.
Take Advantage of the Market – Commercial and industrial real estate prices are down 25 – 30 percent. If you currently rent space, now is the time to explore being an “owner” versus a “renter.” Real estate owners are able to reduce their tax liability and could create additional income with rental space. The SBA 504 loan program allows owners to rent up to 49 percent of their real estate; requires only 10 percent down versus 30-40 percent conventionally, provides low and fixed interest rates; and provides longer terms so that monthly payments are manageable.

Business owners can access capital in today’s economy and there are numerous resources available to help. To find out more information about SBA programs and other resources for small businesses, contact AmPac Tri State CDC, a non-profit certified SBA lender at (909) 915-1706 or visit our website at http://www.tristatecdc.com/.

Peoples Choice Staffing, Inc. Escapes the Recession

2010-08-17T08:45:00.000-07:00

Corona, CA – July 6, 2010 – Despite the nation's economic downfall, Peoples Choice Staffing, Inc. has continually exceeded projected sales goals on an average of 30-40% annually and is in process of moving toward national expansion.

The growth pattern for 2010 of Peoples Choice Staffing, Inc. appears to be on target as YTD revenues are trending toward tripling that of 2009. In addition, PCS opened a second company that serves as a Managed Service Provider, Choice Workforce Solutions, LLC that is estimated to produce an additional $65 million in revenue on an annual basis.

"There might be a recession, but we refuse to participate,” says Denise Peoples, President and CEO of Peoples Choice Staffing, Inc. “We wouldn’t allow our employees to buy into a recession mentality; we just knew we had to work three times harder and smarter.” PCS Chairman & COO Wendell Peoples continues, “Our management and employees are collectively committed to represent this company brand in everything we do."

Peoples Choice Staffing focuses on developing mutually beneficial partnerships with handpicked companies that drive results and heighten client interest. Previously this strategy was focused on accommodating clients just in Southern California but with current growth into five states and continued expansion moving across the United States, PCS in on the verge of providing client benefits on a national basis.

Denise Peoples, President and CEO of Peoples Choice Staffing, Inc., brings more than 22 years of knowledge and in-depth experience in the staffing industry, making her one of the leading experts in Human Capital Management. She is a member of NAWBO-IE and serves on the Board as Mixers Chair.

Contact:
Denise Peoples, President and CEO
Peoples Choice Staffing, Inc.
1269 W. Pomona Road, Suite 107
Corona, CA 92882
Ph: (951)735-0550

Blogging: How It Can Benefit Your Business

2010-08-12T21:07:00.000-07:00

Did you know that 346 million people worldwide read blogs? Imagine how many of these people could be clients or customers of your business. It sounds cliché, but the possibilities with blogging are endless.

A blog, originally known as a “weblog” is merely a web page made up of short, frequently updated entries or posts. Many blogs are personal, informal and set up like an online journal. A business blog, however, can be a low-cost, highly effective marketing tool for any business.

According to Holly Suso, the founder of MymompreneurTM and an active blogger who offers a blogging boot camp workshop, there are three key reasons why businesses should blog: improve visibility, demonstrate expertise, and increase profit.

Improve Visibility
“In terms of visibility, blogging allows you to meet your audience, customers, and colleagues where they are,” said Suso. To put it another way, a business blog will help you and your company be found online.

According to new research released from The Nielsen Company, Americans spend a third of their online time (36 percent) communicating and networking across social networks, blogs, personal email and instant messaging. That means your potential clients are definitely online and they are reading blogs, so why not take the opportunity to engage with them?

Business owners often will say that they are already engaging with customers through email marketing with a newsletter. While a newsletter can indeed be a valuable source of information, a blog does not have to replace it, but rather it can work in conjunction with it. You can use the newsletter to drive traffic to your blog.

Demonstrate Expertise
With a business blog you can offer knowledge, expertise and experience via quality content that will make you a resource your audience will value and follow.

“We've all heard that content is King. Blogging reinforces you as the expert in an authentic, credible way,” said Carolyn Ortman of CKO Marketing and Training Group. “Providing in-depth commentary on a blog about what you stand for in the marketplace is an excellent way for others to get to know you and your company, build your reputation and enhance your brand.”

Note that providing quality content is the key here. You want to be seen as an expert or a company that offers valuable information (oh, and you just so happen to provide a product, service or solution). You do not want to be seen as a pushy salesperson.

Beyond sharing your expertise, it’s also important to show your audience that you care. Remember, one of the key benefits of a blog is that it is interactive, meaning it allows for two-way communication between you and the readers. Once you create a post, readers will read it and often they will post comments back to you, asking questions and sharing insights.

Tip: Make sure you respond to blog comments. If you’re not visiting your blog, why should anyone else?

Increase Profit
As you establish a relationship with the readers of your blog and they begin to see you as an industry expert, you will see a boost in sales and subscriptions.
According to a Hubspot report, blogging can have a very positive effect on your company’s branding and growth. Reportedly, companies with blogs gathered 68% more leads than companies without blogs.

“Your blog can be used as an effective lead capture tool. Blogs can offer incentives such as eBooks, coupons, specials and information products in exchange for leaving contact information on email forms,” Suso added. “Data can then be compiled and segmented for sales usage via newsletters, upsales, and evites, for example.”

People are likely to do business with you if they like what you have to say, enjoy reading your ideas and can see your passion and drive within your words (or video) on your blog.

Moving up the Ranks
Another key benefit to blogging is that blogs are search engine friendly. If you’re like most business owners, you’d like to achieve high rankings among the search engine giants like Google and Yahoo and thereby see a jump in the number of people who visit your company website. Blogs are not only frequently updated but often contain keyword-rich content, which is a must for search engine optimization.

While monetary costs associated with blogging are minimal, your main investment is time. This could be a huge drawback because as any business owner knows, time is a precious commodity we all wish we had more of. In an interview with Technorati, a blog search engine, Fred Wilson the managing partner of two venture capital firms and a well known blogger at AVC.com said, “It's not easy for an entrepreneur to find the time to blog. But for those who do it, it is a great tool to communicate with the various stakeholders in their business and build a reputation for thought leadership.”

Joan Burke Stanford is the owner of Jazzy Pen Communications. With a journalism background, she has more than 15 years of experience writing and editing for a variety of companies and publications. Visit http://www.jazzypen.com/ for more information.

Get in Balance with Your Balance Sheet

2010-08-11T14:27:00.000-07:00

Business owners often say they want to have a cash reserve, collect on receivables sooner, pay down accounts payable, and pay off credit cards. Does this sound familiar? If so, then my question is: Why does everyone spend so much time obsessing over the Profit and Loss, aka P&L?

Don’t get me wrong. I too spend much of my time analyzing my company’s P&L. I compare my prior year’s earnings with this year’s earnings. I make sure my budget-to-actual is in line. I compare my earnings and direct expenses with my company’s projections. However, if I truly want to know how my business is doing, I spend time with my balance sheet.

I believe the answer to my first question, why so many business owners only spend time with the P&L, is that they don’t know how to interpret the story of the balance sheet.

A balance sheet is a record of company assets and liabilities. Assets are what your company owns. Liabilities are what your company owes. Equity is what your company has.

3 Ways to Spend Time with Your Balance Sheet

1. Evaluate your company’s liquidity. How quickly can you turn your company’s assets into cash? Current assets (CA) determine liquidity. Current assets are made up of cash, accounts receivable, and inventory. Cash is the most liquid and inventory is the least.

Take the sum total of your current liabilities (CL) combined with current payments on long-term debt. Current liabilities include accounts payable, credit cards, payroll payable, taxes payable, etc. Calculate your current obligations on long-term debt for the month (car notes, mortgage, and equipment finance loans) and add to your current liabilities.

Now that you know how much you have in current assets and how much you owe in current liabilities, divide current assets by current liabilities. Coverage of assets to liabilities should be at least 1.25. Example: Current Assets = $1,000 Current Liabilities = $460. CA/CL = 2.17. If assets to liabilities is less than 1, there could be a cash-flow problem.

Basically, if a company generates more liquid assets than operational costs, it can give the excess to the shareholders/owners. At some point in the future, the company may end its operations. It will pay off all liabilities and what remains is tangible shareholder/owner value. This is the return on invested capital/sweat equity generated by the company’s operations.

This step also identifies if the company can fund its own growth, or if debt will need to be issued to the company to support growth.

2. Determine whether liquid assets are increasing or decreasing. How about your payables? From one month to the next review the change in cash, accounts receivables, inventory, payables and credit cards.

**Note: The chart above is a very basic analysis, but hopefully you can start thinking about the relationships between accounts.

3. Employ tactics to control cash. Going back to the first sentence of this article—businesses want to have a cash reserve, collect on receivables sooner, pay down AP, and hopefully pay off the credit cards. Are these goals attainable? Yes! Let’s start with the need to have a cash reserve.

As a business owner, what are you doing to control cash? Is there a budget in place to control expenses? Are expenses realistic? For example, you don’t lease a luxury auto that the company cannot afford. Is the company collecting AR in a timely manner to pay for operational costs? Do you maintain credit card debt and have a plan in place to pay off the debt? Do you separate expenses for your life from your business? If you answered yes to any of the above questions, you are on your way to having a cash reserve and getting in balance with your balance sheet.

Beth Bockenhauer started her career with five years of military service. She then worked for ten years as a small business owner, and holds a Bachelor of Science degree in accounting. Beth has worked in public accounting for the past seven years. Her company, Beth Bockenhauer, CPA is dedicated to helping business owners establish beneficial financial systems and processes, and to wisely manage growth as well as budgets.

Member Event You Don't Want to Miss

2010-08-10T10:16:00.000-07:00

New Location

Join us for a celebration of Peoples Choice Staffing's

Grand Opening

August 11, 2010

4:30-6:30 pm

Enjoy a classy afternoon featuring live jazz, food and wine.

A Coach purse will be raffled off along with other great prizes!

Peoples Choice Staffing, Inc.

1269 W. Pomona Rd. Suite 107

Corona, CA 92882

(951) 735-0550

www.peopleschoicestaffing.com

Chapter President Delivers Inspiring Speech

2010-08-09T16:36:00.000-07:00

The following is the installation speech from Tina Loza, NAWBO-IE President for the 2010-2011 term:

Tina Loza,
NAWBO-IE President

I was working on this little speech in the Ronald Reagan Airport in Virginia after having spent a week in our nation’s capital for the NAWBO National Conference. The message during the conference was clear and coming at us from all sources; Nancy Pelosi, Valerie Jarrett, and Karen Mills all had one clear, unwavering message: Economic recovery will be powered by small businesses. Period. We are the answer to this economic crisis. You are the answer to this economic turmoil.

And although I was surrounded by influential, interesting, and smart women all week, frankly, I have to say that I was most energized by actually being in D.C. I had never been to D.C. before and I feel that the city was so magical, empowering, and energizing and that most of all has helped me solidify what I want for our group this year. I want you to feel that you are knowledgeable and informed so that you can run your business instead of your business running you. I want you to feel empowered and energized.

As most of you know, I am an attorney and started my practice with not even one client in May, five years ago. I came to my first NAWBO meeting that summer five years ago and have been coming ever since (except for a small absence while on hospital bed rest that brought me my wonderful twin boys). I came to my first NAWBO meeting with my business cards printed on my home printer on Avery card stock. I was very busy pretending to busy, wondering how and why my husband convinced me that starting a practice, on my own, would be a good idea.

I waited by the phone hoping it would ring. I went to event after event, shaking hands, exchanging cards, taking a mournful, deep breath every time I entered a room filled with people that I did not know. I took and momentarily entertained calls from people who told me that James Cameron stole the plot of the Titanic from them. I swore at Quickbooks. I wondered whether I needed a business license, a CPA, or disability insurance. Not to be boastful in any way, but I am proud that today, I have six other attorneys working with me and we have two assistants. We have approximately 300 active clients. We made it the first five years, we survived, we grew, we made mistakes, we learned, and the bottom line is NAWBO had something to do with that.

Now, in case you did not know after laughing at lawyer jokes all your life, attorneys work on the concept of the billable hour – so, for example, when I am sitting in a waiting room at a doctor’s office, I literally look at my clock and calculate how much money I am not making. I have often considered sending the doctor a bill for my wasted time because usually there is no return on my investment of time at the doctor’s office – they say my flu/cold/etc. is viral, they can’t do anything, and send me on my not so merry, feverish way.

What I want this year, is that each one of you will not leave here wanting to send NAWBO a bill for your time. My aim is to give you a return on your investment of time. That is what I will strive for at each and every meeting and the Board has been and will be tasked to help make this happen.

With that said, this is not a one way street, I encourage and urge you to come here and be active. If you are not on the Board or a Committee, you should consider it. You should attend NAWBO-U and come to our mixers. Hurriedly sitting at a table, avoiding eye contact, and running out the door is not the way to make NAWBO work for you. The value of NAWBO is in these women, your peers. Their knowledge, advice, and business are part of the return on your investment.

Because I often look at each hour as a potential billable hour, I do not want my time to be wasted. Wasted time is time that I could have been investing in work or I could have been spending with kids, my husband, or reading a People magazine while catching up on back episodes of The Good Wife. Is there anyone here uninterested in being profitable and getting a return on your investment of your time? Please raise your hand. OK. Good. We are on the same page.

With that said, we have a theme that will run through every meeting and program this year. This year will be aimed directly at taking you and your business to the next level by giving you the knowledge you need to avoid risk, make good decisions, and operate with intelligence so that you are a profitable and productive person. Every single program will be aimed at you walking out the door with information that you can use.

The breakdown of businesses in this room is essentially (1) emerging business owners, (2) growing business owners, and (3) established business owners. My intention is that each meeting will be tailored this year to the "growing business owner." Emerging business owners will be infused with information on how to step up their game and will be placed in a position of learning what they will need to know to be a success. Growing business owners will be armed with the knowledge to ensure that they will not fail because they did not know any better. Established business owners will gain as they review, re-assess, mentor, aid, and learn as they polish their businesses and perhaps grow new areas of their businesses that have yet to be explored. You will get a return on your investment merely by listening and if you do not, then I will have considered my term a failure. If you are not getting what you need here, tell me. I work for you. For one year, you get an attorney, free of charge.

I also encourage you to attend NAWBO-U. At meetings, we can only provide a short snippet of things you need to grow. NAWBO-U is the charitable, 501(c)(3) arm of NAWBO-IE. NAWBO-U is there to provide you with intensive, longer programs designed to educate and guide you. There is so much power in learning. Even when it’s hard to tear yourself away from your many obligations; it is worth it.

In closing, I am so happy that you have attended this meeting today. I am really excited to be starting this term with a Board that I have been calling the “Dream Team” since the moment Hilda Kennedy signed on as President-Elect. I am humbled by this opportunity and hope to make your membership dues worth every penny. We are looking forward to meeting you all, working with you, helping you, laughing with you, and empowering you so that you can take your business to the next level. Enjoy this beautiful day and remember, you’re the boss. Run your business, don’t let it run you.

Tina Loza is an attorney based in the Inland Empire. Tina and her husband have their own legal practice specializing in intellectual property law (patents, trademarks, copyrights, domain name disputes, etc.). She also has three kids under the age of 3 and lives in Pomona, CA. For more info, go to http://www.lozaip.com/.

Welcome!

2010-08-09T15:00:00.000-07:00

Welcome to NAWBO-IE’s blog, our corner of cyberspace where we will share tons of valuable information, business tips, special event details, member news and so much more. Subscribe now, so you don’t miss important posts.

Don’t forget to post comments and use the blog as yet another way to network with members and friends of NAWBO-IE.

For more information about the National Association of Women Business Owners, please visit www.nawbo.org and for specific information about the Inland Empire chapter, go to www.nawbo-ie.org