Main Office:  (512) 327-9595
On-Air:  (512) 390-1370
Comment Line:  (512) 329-KJCE (5523)
| More
KJCE 1370AM>Audio on Demand>>The Small Business Financial Show Podcast 6/1/14

The Small Business Financial Show Podcast 6/1/14

Jun 1, 2014|

Related Audio:

+

Automatically Generated Transcript (may not be 100% accurate)

If you're -- business owner pay attention. It's time for the small business financial shows with a small business tax consultant. Professor and lecturer comfort shoe -- split comfort give you the knowledge you need to increase profits and grow your business now. Here's your host comfort should there. You and your host -- -- helping you as a small business owner find success in business. You can listen to previews broadcast of our programming talk thirteen seven. And you can find practical insightful information. Or your business at a website which is SM BR easy financial dot com. A few days ago I was -- the question. Who is a small business owner. My initial thoughts were really. Is -- joking or are they actually say yes. During that conversation I realize that there are actually several people out there. Who do not understand who is considered a small business owner. This is a learning experience for me and we are always learning all of us each day we learn something. For me it was the awareness that there are some of you who are small business owners. And you do not treat your situation as such because you don't realize that your. In other words it has not registered in your mind that you are a small business owner. Also perhaps because of the slack of understanding. You probably not taken advantage of the tax laws that are available to you you're missing out on other opportunities for growth in your probably limiting your potential. So I want to use this opportunity to shed some light on who the small part to a small business owner -- In general in the US an organization that generates less than ten million dollars per year. And has. 200 and that people employees or less is considered a small business owner. Also if -- an individual that manages your own organization. Then you are a small business owner. You don't have to have a commercial office phase either perhaps -- are working from home meaning that you have a whole -- is or at least the designated workspace at home. Your steal a small business owner. We are going to take a look at a few professions. To show you how one -- your small business owner. Most of the times the ones who do not see themselves -- small businesses are independent professionals. These are people who are in a profession that's affiliated with the major brand or they have partnered with Amy her brand. And -- you know generally. If you're in business for yourself of your managing your own theories and you know you're. Bringing in your own customers and clients your business owner but. The small comes into play. It depending on revenue -- to stated before or depending on how many employees you have. And that company and then of course theories of what we call a midsize businesses and then of course we've got big business which is usually. The large global. Corporations that are out there. So I am. If when you filed your taxes. Use. Form 1040 schedule C. Because you receive money from a -- gig. Then you are operating a small business also. You might be working somewhere else has a full time employee he but in your spare time your managing in conducting some type of trader business. Where you have your own customers. Another term is self employment. That's something that. You a term that you make prompt come across self employed. Mean to just simply means that you get your income directly from your own clients. Perhaps it's a trade like I said before business that you created. Or one in which you manage -- grow your own customer base simply sad. You find your own work rather than being provided with work in addition. If you do not. Get customers then you don't get paid so what are some professions. Where you'll find that. Let's start with the -- church. Realtors are licensed professionals who act as liaisons between buyers and sellers of real estate sometimes they help you know. Market the -- of real estate. Property or find buyers in the market pretty much helping people to find. 88 and buy or sell a home normally. Realtors generate -- -- come from various activities that they administer. On their owner they contribute towards they may get commissions from selling. You know residential cells they may get commissions from. Commercial property -- Or even simply just from referrals either way. Their income is based on the activities that they generate or participate and they grow they are clients client basing manage their own business that they years. They're not considered employees. So they have to manage and -- their own taxes realtors can operate from home. Or pay for office space elsewhere. They paper beer own administrative dealings they usually. Are affiliated with the corporate brand sometimes but they are not -- it's they -- self -- They Muster record business activities on form 1040 schedule C. And -- -- self employment tax if they had a profitable year. They also have the opportunity to grow. Into owning and running their own mixed Arab militiamen in the industry if you are a real -- then you are operating your own business. Insurance agent. Some insurance agents work as intermediaries between those shopping for insurance and the various insurance companies. For example health insurance. Auto insurance. For business insurance just to name a few. While some agents represent a specific company that being said they have to meet. With a lot of people. Who may be prospective clients. They have to deal a client base. They have to be able to identify customer needs and matched the right insurance with the needs of the customer. They have to stay abreast of industry law changes and regulations. On different policies. Many of them work on commission which says I himself employee. Some of them also franchise or have grown. Into owning their own -- that publish meant. They are self employed which says to me business owner. Network marketing how about that. Network marketing may include some type of multi level marketing. In which you can build a team of your own you may find this type of business structure in the make up in the history of the food and beverage industry. Health and wellness candles -- technology just to give some you know some examples. What this type of business structure one let me start off by paying for a marketing -- Then -- ports to a team leader or director who brought them into the industry. This particular business structure has taken a lot of heat over the years as being fraudulent I don't know about all of them. I must say however that I have met a few people who have successfully built a bright and business off of this particular business sat up. Many have started as affiliates or representatives and built a team of their own and there are now running regions. They are also affiliates of major recognized brands sometimes that's on a national level and sometimes that's on an international level. They sell products -- services and the only get paid when they sell a product. As they bring and a new team member when the team members sells a product they may get a percentage also when the team member begins to build their own team. And their team members sell a product they may get a cut of that too sometimes it's a direct relief. You know from from their team members and sometimes -- indirectly through the parent company you know organizations. They may get also bonuses to discounts and other types of incentives. It has self employed and business owner written all over it once again because they manage their own customer base. What about independent contractors. There's a whole lot of you that are out there maybe Europe plumber maybe your freelance writer maybe your roofer. Maybe your baby sitter. Maybe you clean homes you're involved with housekeeping. You can also take those skills as an independent contractor. And begin to expand your operations if you just. Get this mindset. And understand that you are operating a business because you're responsible. If you don't you know bring in the clients you don't get heat and you're responsible for paying your own taxes as well. No one is withholding anything from your paychecks are you need to start thinking. As a business owner. What about independent professionals. Such as. So proprietor CPAs and attorneys accountants and other marketing professional it's the same think hair stylists. Some of your hairstyle was leased space and in the salon representing another company like -- be a major brand. You don't need to be totally independent on your own before you can start treating your situation. Like a business -- thinking like a business owner. You know that one day you wanna run your own X that was meant well let's not despise the days -- you know small beginnings and worked towards that. All right you are listening to small business financial here on top thirteen seven. We are going to take a break. Wednesday June. Do you have to have more to share with you about whom this will also consider the small business owner. There for you small business owner looking for answers to help -- solve your business challenges like port access funding for your business seeking help understanding. Flat tax issues what to do to be a profitable business well look no further. Visit the small business financial website at SM BIC financial. -- can learn about upcoming workshops networking events I get lots of free information. Again go to small business financial's website -- SM BIC financial. It's. -- and welcome back to the small business financial shows once again here's your host a comfort should that it's. Welcome back everyone that you aren't listening to small business financial blame your post comforts advance. Helping you as a small business owner find success in business. You can listen to -- broadcast of our program at top thirteen seven dot com and you can find practical insightful information for your business. On our website which is SMB -- easy financial dot com. We are discussing today about who is considered. A business owner. Some more business owners that are out there that may not be thinking that they are small business owners. Our athletes. Photographers. Photographers. Sometimes are independent. They've got to set up their own studios sometimes they at least -- You go -- you take photos of weddings. And other special occasions engagements and dinners sometimes professional photos. You need to start thinking business owner. Athletes musicians and actors. Yeah might be affiliated with -- bigger brain can't. And yes you might be under you know the -- regulations -- -- of that organization but you're still a business owner because if you don't sign the contracts. If you don't go on and do the work. You don't get hate. So your self employed but it's just that in those type of professions some times the earnings are much more. Then the the the earnings of some of the others that I mentioned previously. But it's the same thing you are responsible for your own taxes you have to manage your own brand you are a business owner. Just because you've got some sort of long term contract does not mean that you're an employee of that expelled which meant you are. Being treated as a self employed professional. So why is it important to understand this. I mentioned earlier about the ability. CU is. Certain tax laws to your advantage. The simplest example of this is that many of you are probably paying more taxes than you should because you're not accounting for your business expenses properly. You probably have gas receipts. That you disregard you buy gifts for your business clients to show appreciation you're not accounting for that. You week. For lunch meetings you attend chamber events. Industry related meetings and you have to renew your licenses every year or ten continuing education classes. You are covering the cost of your own health care. You are going on business trips and having to pay for hotels taxicabs rental car you know elects are -- services or parking. These -- business expenses. You're updating your technology systems buying computers containing a website buying software. Any and possibly paying for second both online that is being used specifically for business purposes you need to be accounting for all of this costs. So that you can take the correct amount of deductions during tax time. All of these are just the few items. You know you that you should be keeping track that's so that you you know can account for the cost of your operations. Okay. The other thing is that you are probably missing out and not other opportunities for growth you probably limiting your potential let me explain this. Because you are affiliated with a big brand name. And you you know you'll find this with insurance. Agents realtors athletes network marketing some of the ones I talked about previously. And even some hair -- cons contract being with an industry powerhouse brand. You probably see yourself as working for a company know you are a self employee. But affiliated with the recognized brand. What is happening. Is that instead of going out on your bones organically grow your own brand. Your affiliation with this recognized brand gives you instant credibility. In exchange for the affiliation there may be certain fees that you have to pay might be some profit sharing cause marketing costs that are tarts TU. It is almost similar to be business owner who starts. A business but gets a franchise business. I hope this is making sense to you. The difference is that the costs. -- being associate it with backed company our operating under that brand name is a lot less expensive. Then if you work to get a franchise of your own. You know or even start from -- acts. So just because you share with people that you work for XYZ company doesn't mean that you're an employee he. Who happens to be paid on commission or in -- -- usual wait for one thing the organization is certainly not treating it that way yes. You may have to show up for meetings and attend required training and adhere to certain regulations. It's all part of keeping you informed about what's happening in the industry. It's helping you to maintain your license to do business it's helping you to keep up with a brand. Many -- you with the structure are in a far more better position than others with a different type of business set up. Because of the brand because of the industry structure because of the resource is an opportunities that are readily available to you. Because of the organization's support system. That you have access to and because of the proven business model that's already in place. So. Those -- you. -- in your thinking see yourself as working for a company you are not reaching your potential because you have missed the point. The points. That you have been missed that that that you've been given an opportunity. And opportunity to write your own paycheck as an affiliate. Other respected and trusted brand perhaps. You are thinking of the day when you start your road instead of capitalizing off of the resources available to you right where you are right now. I don't know when talking to out there but this may be the difference in the thinking that you'd need. It takes you to the next -- It's realizing that your self employed with the opportunity to grow into something much bigger. If you aren't in any of these professions that I've just mentioned. You should have your own personal business plan with like short and long term growth. At least some idea of where you want to be in the next three to five years. You need to have your own financial plan stating how much you wanna make over time like this year -- next year and in the next coming years. You need your own marketing strategy how you're going to achieve those numbers. You should be attending business seminars workshops. Not just. To go -- finding customers but so that you can learn how to be more effective. How to grow your business how to be profitable how to be wise with your own personal finances. You should be attending networking mixers and joining certain community organizations as well. The people at the top of their profession at least the ones that I'd help in the past. These are some things that they did in order to reach you know that that level that they were desiring to reach I clearly remember one real terror. A farmer -- a mind to like hinges in two years became recognized amongst her peers as a top earning realtor. And you know -- When I first met her she gave me a brief overview of what her plan was and she certainly cheap -- it sure she put a lot of money to make it happen and put it to good use in the right places but that's what investors and business owners do so for many of the you need to be business owners. You need to be the business owners that you are you need to start thinking like he needs to start acting like you're doing all the right things so that you can. Achieve your goals before we wrap up I want to take some time to think the Scottish -- -- order for hosting hurry back at the Scottish -- Weirder I'm here in Austin. Was yet erected in eighteen set anyone. On the they have got a community and children's theater with excellent program mean you know created by experienced professionals and you know purposefully designed to meet the needs of you know our diverse cultural community. They partnering collaborate with other other organizations. You know. Two out of take part in co productions fund raising workshops and other exciting programs they also have an outreach program. Which is Adam you know. -- helps with the portable school shows and summer camps right here in the Austin area for the kids. And in in the Austin area so in the summer when he fifteen at the bottom will be launching. A Shakespeare through performance teacher training camp for teachers. Of all great levels -- for those of you that are looking to. You know rent a venue to have Yuri bandits you know they've got a commercial kitchen they got in tiny room they've got elegant lobbyists. And -- you know this is available to you out there in the community you can have your private event -- -- -- concerts performances and so much more. For more information you you want to email from our eight each act Scottish -- Theater dot org in of course if you want to visit their site you can learn more information about them. Act Scottish -- theatre dot or so we just want to say thank you for them for partnering with us. For our event I also wanna take some time out. Meant to think. Martha Morales who's with Austin's social -- she's a wonderful personal work with she was on our show some weeks back. You know sharing about to be much needed services that her company. Off terrorists you know they they've got event planning they've got it and marketing they even got event productions. They're also good at bringing businesses together to perhaps you know create partnerships on different. Why I'm talking about events by the way. I want you to know that when we have events on small business financial has any event it's to help you. We want you to be successful so weak organize them with you in mind it's an opportunity for you to learn. You know the stuff is not taught in schools. And you walk away with practical. Information that you can implement right away in your in your business so that you can begin the transition. You know to be a profitable business. I also want you to know that the platform here small business financial is for you. If you need some exposure for your business -- now. We'll get you on the show so that you can talk about what you do he couldn't talk about the products that you had. If you I'll want to be president are advanced just call or email us and I. Like to think of myself as a nice person. Well at least sometimes. My point is we are here or do you. If you missed. The last event that we have worry not we will be having more. Online learning opportunities. They won't necessarily be on the same topics but you'll still walk away with a with a wealth of practical information. -- are also a great -- to speak with others. You know pick their brains you know form new relationships. I'll tell you're really short story really quick lead some years back when I was growing up in my profession my calling growing up the earlier years when I was learning. I used to go to events and sit at the table with people I didn't even know. Just to listen to the conversation. Because I knew I would walk away with something I would just eat my salad smile and listen. So you also need a support system. Especially -- independent professionals out there do you need to support systems sometimes because you may be feeling alone and lost as a business owner. You -- attending events. So that you can meet people so that you can have some sort of a supports systems which phone numbers call someone and say how you handle this situation. It's an opportunity for you to connect and it's an all it's also an opportunity. Four due to learn as well so pretty please don't try to do it all alone connect with others. And get out there and grow these sites their tax deductible right because your business owner. OK I'd also point to point out -- you. Died beat this as organizations. But those of you that are independent professionals. I wanted to keep in mind that you'll are. With a business with a company that probably has a proven business model. So. Make sure that you're utilizing those resources. Make sure that you are. Thinking as a small business owner OK who's growing -- right. Well that brings us at the end of our show today. Reach out to -- on FaceBook FaceBook dot com. Slash small business finance show. Post -- question you are hard. Something on Twitter send us an email -- small business taxes at gmail.com or -- just simply visit our web site went to SN BIC financial. Dot com for more information thank you so much for listening and remember you get out of your business what you put into an. If you're -- business owner pay attention. It's time for the small business financial shows with a small business tax consultant. Professor and lecturer comfort shoe -- split comfort give you the knowledge you need to increase profits and grow your business now. Here's your host comfort should there. You and your host -- -- helping you as a small business owner find success in business. You can listen to previews broadcast of our programming talk thirteen seven. And you can find practical insightful information. Or your business at a website which is SM BR easy financial dot com. A few days ago I was -- the question. Who is a small business owner. My initial thoughts were really. Is -- joking or are they actually say yes. During that conversation I realize that there are actually several people out there. Who do not understand who is considered a small business owner. This is a learning experience for me and we are always learning all of us each day we learn something. For me it was the awareness that there are some of you who are small business owners. And you do not treat your situation as such because you don't realize that your. In other words it has not registered in your mind that you are a small business owner. Also perhaps because of the slack of understanding. You probably not taken advantage of the tax laws that are available to you you're missing out on other opportunities for growth in your probably limiting your potential. So I want to use this opportunity to shed some light on who the small part to a small business owner -- In general in the US an organization that generates less than ten million dollars per year. And has. 200 and that people employees or less is considered a small business owner. Also if -- an individual that manages your own organization. Then you are a small business owner. You don't have to have a commercial office phase either perhaps -- are working from home meaning that you have a whole -- is or at least the designated workspace at home. Your steal a small business owner. We are going to take a look at a few professions. To show you how one -- your small business owner. Most of the times the ones who do not see themselves -- small businesses are independent professionals. These are people who are in a profession that's affiliated with the major brand or they have partnered with Amy her brand. And -- you know generally. If you're in business for yourself of your managing your own theories and you know you're. Bringing in your own customers and clients your business owner but. The small comes into play. It depending on revenue -- to stated before or depending on how many employees you have. And that company and then of course theories of what we call a midsize businesses and then of course we've got big business which is usually. The large global. Corporations that are out there. So I am. If when you filed your taxes. Use. Form 1040 schedule C. Because you receive money from a -- gig. Then you are operating a small business also. You might be working somewhere else has a full time employee he but in your spare time your managing in conducting some type of trader business. Where you have your own customers. Another term is self employment. That's something that. You a term that you make prompt come across self employed. Mean to just simply means that you get your income directly from your own clients. Perhaps it's a trade like I said before business that you created. Or one in which you manage -- grow your own customer base simply sad. You find your own work rather than being provided with work in addition. If you do not. Get customers then you don't get paid so what are some professions. Where you'll find that. Let's start with the -- church. Realtors are licensed professionals who act as liaisons between buyers and sellers of real estate sometimes they help you know. Market the -- of real estate. Property or find buyers in the market pretty much helping people to find. 88 and buy or sell a home normally. Realtors generate -- -- come from various activities that they administer. On their owner they contribute towards they may get commissions from selling. You know residential cells they may get commissions from. Commercial property -- Or even simply just from referrals either way. Their income is based on the activities that they generate or participate and they grow they are clients client basing manage their own business that they years. They're not considered employees. So they have to manage and -- their own taxes realtors can operate from home. Or pay for office space elsewhere. They paper beer own administrative dealings they usually. Are affiliated with the corporate brand sometimes but they are not -- it's they -- self -- They Muster record business activities on form 1040 schedule C. And -- -- self employment tax if they had a profitable year. They also have the opportunity to grow. Into owning and running their own mixed Arab militiamen in the industry if you are a real -- then you are operating your own business. Insurance agent. Some insurance agents work as intermediaries between those shopping for insurance and the various insurance companies. For example health insurance. Auto insurance. For business insurance just to name a few. While some agents represent a specific company that being said they have to meet. With a lot of people. Who may be prospective clients. They have to deal a client base. They have to be able to identify customer needs and matched the right insurance with the needs of the customer. They have to stay abreast of industry law changes and regulations. On different policies. Many of them work on commission which says I himself employee. Some of them also franchise or have grown. Into owning their own -- that publish meant. They are self employed which says to me business owner. Network marketing how about that. Network marketing may include some type of multi level marketing. In which you can build a team of your own you may find this type of business structure in the make up in the history of the food and beverage industry. Health and wellness candles -- technology just to give some you know some examples. What this type of business structure one let me start off by paying for a marketing -- Then -- ports to a team leader or director who brought them into the industry. This particular business structure has taken a lot of heat over the years as being fraudulent I don't know about all of them. I must say however that I have met a few people who have successfully built a bright and business off of this particular business sat up. Many have started as affiliates or representatives and built a team of their own and there are now running regions. They are also affiliates of major recognized brands sometimes that's on a national level and sometimes that's on an international level. They sell products -- services and the only get paid when they sell a product. As they bring and a new team member when the team members sells a product they may get a percentage also when the team member begins to build their own team. And their team members sell a product they may get a cut of that too sometimes it's a direct relief. You know from from their team members and sometimes -- indirectly through the parent company you know organizations. They may get also bonuses to discounts and other types of incentives. It has self employed and business owner written all over it once again because they manage their own customer base. What about independent contractors. There's a whole lot of you that are out there maybe Europe plumber maybe your freelance writer maybe your roofer. Maybe your baby sitter. Maybe you clean homes you're involved with housekeeping. You can also take those skills as an independent contractor. And begin to expand your operations if you just. Get this mindset. And understand that you are operating a business because you're responsible. If you don't you know bring in the clients you don't get heat and you're responsible for paying your own taxes as well. No one is withholding anything from your paychecks are you need to start thinking. As a business owner. What about independent professionals. Such as. So proprietor CPAs and attorneys accountants and other marketing professional it's the same think hair stylists. Some of your hairstyle was leased space and in the salon representing another company like -- be a major brand. You don't need to be totally independent on your own before you can start treating your situation. Like a business -- thinking like a business owner. You know that one day you wanna run your own X that was meant well let's not despise the days -- you know small beginnings and worked towards that. All right you are listening to small business financial here on top thirteen seven. We are going to take a break. Wednesday June. Do you have to have more to share with you about whom this will also consider the small business owner. There for you small business owner looking for answers to help -- solve your business challenges like port access funding for your business seeking help understanding. Flat tax issues what to do to be a profitable business well look no further. Visit the small business financial website at SM BIC financial. -- can learn about upcoming workshops networking events I get lots of free information. Again go to small business financial's website -- SM BIC financial. It's. -- and welcome back to the small business financial shows once again here's your host a comfort should that it's. Welcome back everyone that you aren't listening to small business financial blame your post comforts advance. Helping you as a small business owner find success in business. You can listen to -- broadcast of our program at top thirteen seven dot com and you can find practical insightful information for your business. On our website which is SMB -- easy financial dot com. We are discussing today about who is considered. A business owner. Some more business owners that are out there that may not be thinking that they are small business owners. Our athletes. Photographers. Photographers. Sometimes are independent. They've got to set up their own studios sometimes they at least -- You go -- you take photos of weddings. And other special occasions engagements and dinners sometimes professional photos. You need to start thinking business owner. Athletes musicians and actors. Yeah might be affiliated with -- bigger brain can't. And yes you might be under you know the -- regulations -- -- of that organization but you're still a business owner because if you don't sign the contracts. If you don't go on and do the work. You don't get hate. So your self employed but it's just that in those type of professions some times the earnings are much more. Then the the the earnings of some of the others that I mentioned previously. But it's the same thing you are responsible for your own taxes you have to manage your own brand you are a business owner. Just because you've got some sort of long term contract does not mean that you're an employee of that expelled which meant you are. Being treated as a self employed professional. So why is it important to understand this. I mentioned earlier about the ability. CU is. Certain tax laws to your advantage. The simplest example of this is that many of you are probably paying more taxes than you should because you're not accounting for your business expenses properly. You probably have gas receipts. That you disregard you buy gifts for your business clients to show appreciation you're not accounting for that. You week. For lunch meetings you attend chamber events. Industry related meetings and you have to renew your licenses every year or ten continuing education classes. You are covering the cost of your own health care. You are going on business trips and having to pay for hotels taxicabs rental car you know elects are -- services or parking. These -- business expenses. You're updating your technology systems buying computers containing a website buying software. Any and possibly paying for second both online that is being used specifically for business purposes you need to be accounting for all of this costs. So that you can take the correct amount of deductions during tax time. All of these are just the few items. You know you that you should be keeping track that's so that you you know can account for the cost of your operations. Okay. The other thing is that you are probably missing out and not other opportunities for growth you probably limiting your potential let me explain this. Because you are affiliated with a big brand name. And you you know you'll find this with insurance. Agents realtors athletes network marketing some of the ones I talked about previously. And even some hair -- cons contract being with an industry powerhouse brand. You probably see yourself as working for a company know you are a self employee. But affiliated with the recognized brand. What is happening. Is that instead of going out on your bones organically grow your own brand. Your affiliation with this recognized brand gives you instant credibility. In exchange for the affiliation there may be certain fees that you have to pay might be some profit sharing cause marketing costs that are tarts TU. It is almost similar to be business owner who starts. A business but gets a franchise business. I hope this is making sense to you. The difference is that the costs. -- being associate it with backed company our operating under that brand name is a lot less expensive. Then if you work to get a franchise of your own. You know or even start from -- acts. So just because you share with people that you work for XYZ company doesn't mean that you're an employee he. Who happens to be paid on commission or in -- -- usual wait for one thing the organization is certainly not treating it that way yes. You may have to show up for meetings and attend required training and adhere to certain regulations. It's all part of keeping you informed about what's happening in the industry. It's helping you to maintain your license to do business it's helping you to keep up with a brand. Many -- you with the structure are in a far more better position than others with a different type of business set up. Because of the brand because of the industry structure because of the resource is an opportunities that are readily available to you. Because of the organization's support system. That you have access to and because of the proven business model that's already in place. So. Those -- you. -- in your thinking see yourself as working for a company you are not reaching your potential because you have missed the point. The points. That you have been missed that that that you've been given an opportunity. And opportunity to write your own paycheck as an affiliate. Other respected and trusted brand perhaps. You are thinking of the day when you start your road instead of capitalizing off of the resources available to you right where you are right now. I don't know when talking to out there but this may be the difference in the thinking that you'd need. It takes you to the next -- It's realizing that your self employed with the opportunity to grow into something much bigger. If you aren't in any of these professions that I've just mentioned. You should have your own personal business plan with like short and long term growth. At least some idea of where you want to be in the next three to five years. You need to have your own financial plan stating how much you wanna make over time like this year -- next year and in the next coming years. You need your own marketing strategy how you're going to achieve those numbers. You should be attending business seminars workshops. Not just. To go -- finding customers but so that you can learn how to be more effective. How to grow your business how to be profitable how to be wise with your own personal finances. You should be attending networking mixers and joining certain community organizations as well. The people at the top of their profession at least the ones that I'd help in the past. These are some things that they did in order to reach you know that that level that they were desiring to reach I clearly remember one real terror. A farmer -- a mind to like hinges in two years became recognized amongst her peers as a top earning realtor. And you know -- When I first met her she gave me a brief overview of what her plan was and she certainly cheap -- it sure she put a lot of money to make it happen and put it to good use in the right places but that's what investors and business owners do so for many of the you need to be business owners. You need to be the business owners that you are you need to start thinking like he needs to start acting like you're doing all the right things so that you can. Achieve your goals before we wrap up I want to take some time to think the Scottish -- -- order for hosting hurry back at the Scottish -- Weirder I'm here in Austin. Was yet erected in eighteen set anyone. On the they have got a community and children's theater with excellent program mean you know created by experienced professionals and you know purposefully designed to meet the needs of you know our diverse cultural community. They partnering collaborate with other other organizations. You know. Two out of take part in co productions fund raising workshops and other exciting programs they also have an outreach program. Which is Adam you know. -- helps with the portable school shows and summer camps right here in the Austin area for the kids. And in in the Austin area so in the summer when he fifteen at the bottom will be launching. A Shakespeare through performance teacher training camp for teachers. Of all great levels -- for those of you that are looking to. You know rent a venue to have Yuri bandits you know they've got a commercial kitchen they got in tiny room they've got elegant lobbyists. And -- you know this is available to you out there in the community you can have your private event -- -- -- concerts performances and so much more. For more information you you want to email from our eight each act Scottish -- Theater dot org in of course if you want to visit their site you can learn more information about them. Act Scottish -- theatre dot or so we just want to say thank you for them for partnering with us. For our event I also wanna take some time out. Meant to think. Martha Morales who's with Austin's social -- she's a wonderful personal work with she was on our show some weeks back. You know sharing about to be much needed services that her company. Off terrorists you know they they've got event planning they've got it and marketing they even got event productions. They're also good at bringing businesses together to perhaps you know create partnerships on different. Why I'm talking about events by the way. I want you to know that when we have events on small business financial has any event it's to help you. We want you to be successful so weak organize them with you in mind it's an opportunity for you to learn. You know the stuff is not taught in schools. And you walk away with practical. Information that you can implement right away in your in your business so that you can begin the transition. You know to be a profitable business. I also want you to know that the platform here small business financial is for you. If you need some exposure for your business -- now. We'll get you on the show so that you can talk about what you do he couldn't talk about the products that you had. If you I'll want to be president are advanced just call or email us and I. Like to think of myself as a nice person. Well at least sometimes. My point is we are here or do you. If you missed. The last event that we have worry not we will be having more. Online learning opportunities. They won't necessarily be on the same topics but you'll still walk away with a with a wealth of practical information. -- are also a great -- to speak with others. You know pick their brains you know form new relationships. I'll tell you're really short story really quick lead some years back when I was growing up in my profession my calling growing up the earlier years when I was learning. I used to go to events and sit at the table with people I didn't even know. Just to listen to the conversation. Because I knew I would walk away with something I would just eat my salad smile and listen. So you also need a support system. Especially -- independent professionals out there do you need to support systems sometimes because you may be feeling alone and lost as a business owner. You -- attending events. So that you can meet people so that you can have some sort of a supports systems which phone numbers call someone and say how you handle this situation. It's an opportunity for you to connect and it's an all it's also an opportunity. Four due to learn as well so pretty please don't try to do it all alone connect with others. And get out there and grow these sites their tax deductible right because your business owner. OK I'd also point to point out -- you. Died beat this as organizations. But those of you that are independent professionals. I wanted to keep in mind that you'll are. With a business with a company that probably has a proven business model. So. Make sure that you're utilizing those resources. Make sure that you are. Thinking as a small business owner OK who's growing -- right. Well that brings us at the end of our show today. Reach out to -- on FaceBook FaceBook dot com. Slash small business finance show. Post -- question you are hard. Something on Twitter send us an email -- small business taxes at gmail.com or -- just simply visit our web site went to SN BIC financial. Dot com for more information thank you so much for listening and remember you get out of your business what you put into an.

Most Recent Audio

Facebook

Twitter

Contests

1-Thing

Perks