The ability to (1) dream up, (2) create and (3) execute new ideas is the calling of all entrepreneurial leaders. A healthy business operates and grows when the 3 legs of the tripod are in balance. As visionaries, we naturally and bravely bring the ideation, but typically struggle with the other legs: creating a plan for our ideas and committing to a plan fully to execute them. When the three are out of balance, a chronic start-stop dynamic grows between you and your team, and if not managed correctly can lead to team-wide burnout and a total lack of productivity and feelings of progress.
If you look up the definition of white-glove it means to be marked by special care or attention. When entrepreneurs and business owners speak of white-glove service, the phrase sparks images of grandeur and distinguished attention to detail. Many entrepreneurs are striving to create a unique white-glove experience for their clients that elevate their service offerings and show the world what makes them great.
One of the best ways to show the world the ‘you that makes you you’ is to get clear on the front-stage versus back-stage processes that make up your business model. You can gain immense clarity about your business by altering your perspective and looking at things through the filters of front-stage and back-stage.
Here's How Delete Messages You Regret Sending on Facebook Messenger
Facebook now lets you delete messages from old Messenger chats, a feature only Mark Zuckerberg used to have. Facebook launched a new feature in early February that lets you delete old messages inside its chat platform, Facebook Messenger. If you’d like to clean up your old chat history or have sent messages you may regret, there is an easy way to delete them. You can even delete newly sent messages if you act within 10 minutes of sending.
First, open the Facebook Messenger app on your phone or desktop and find a conversation with messages you would like to delete. On your phone, press and hold on a message or select the three dots menu icon on desktop version. Choose “remove” next to the message. If you have sent the message in the last 10 minutes you can select “remove for everyone” to make sure the messages disappear from the indexes of the people you’ve sent them to, not just your own history. - CNBC
Happy Friday and February to you! It's the month of love and there's not much that can top the fulfilling feeling of doing work that inspires you. One of my favorite entrepreneurial thought leaders, Dan Sullivan of Strategic Coach® teaches that "the most successful people are those who have learned how to focus on and leverage their unique strengths. In other words, they build their lives around their abilities, not their disabilities." He began talking about his realizations as “Unique Ability®," the essence of what you love to do and naturally do best.
We all make New Year’s Resolutions, but how well do you follow-through on yours? Whether this year you are aiming to eat healthier, exercise more, or write a book, here are some ways to help you reach your goal.
First, identify a measurable goal, possible obstacles, strategies to overcome the obstacles, and what the best outcome would look like to you. One of our favorite tools for this purpose is Strategic Coach’s Strategy Circle®. This is a tool to help you map out creative strategies to help you achieve your goal.
This New Tax Break Can Make a Big Difference for Small Business Owners
The IRS regulations on Qualified Business Income was a major piece of the Tax Cuts and Jobs Act. This deduction is available for tax years 2018-2025 to eligible individuals, estates, and trusts that own interests in pass-through entities. For QBI deduction purposes, pass-through entities are defined as sole proprietorships, single-member (one owner) LLCs that are treated as sole proprietorships for tax purposes, partnerships, LLCs that are treated as partnerships for tax purposes, and S corporations. While the QBI deduction is available to individuals, estates, and trusts, the proposed regulations refer to all three as “individuals.”
Qualified business income means the net of qualified items of income, gain, deduction, and loss from an eligible business that’s operated via a pass-through entity. The deduction does not reduce your adjusted gross income (AGI). In effect, it’s treated the same as an allowable itemized deduction. The QBI deduction also does not reduce net earnings from self-employment for purposes of the self-employment tax nor does it reduce your net investment income for purposes of the 3.8% net investment income tax. The bottom line is that the QBI deduction regulations are lengthy and complex. This column only scratches the surface of the proposed rules. You may need to employ a tax professional to help you sort through the details and get the best QBI deduction results in your specific circumstances. - MarketWatch
Happy Friday and welcome to the start of another amazing year together! 2018 will be so hard to top, but this year, I personally am focusing on "taking the time to take it in." This means extending the energy to be present, it means hyperfocusing on what I am saying yes to and being willing to say no to most everything else.
The impact of giving feedback, like a great gift can depend greatly on how it is packaged. Positive or negative feedback can be equally well received, if the intention behind it is to improve a situation or a relationship.
Think about the worst gift you ever received. Was it ill conceived or was the intention behind it misread? One year I was given a laser facial-hair remover from my other half. My immediate reaction was to feel offended…”he thinks I’m too hairy!” His intention, however, was that he wanted to save me time and money in going to the salon. All was forgiven, but the gift was still returned. That’s my ME time, after all.
Translating the New Tax Bill for Small Businesses
Business owners have many questions since the passage of the massive new tax bill. This article outlines what’s in the new provision, who it affects, and why you likely don’t need to change a thing to benefit. The most important outcome of the new tax law (officially the Tax Cuts and Jobs Act, or TCJA) was to give a large, permanent tax cut to corporations. But most businesses in the US are small businesses, not large corporations. So rightfully, Congress introduced a provision into the TCJA to create a little more parity, called the deduction for Qualified Business Income (QBI) (also known as Section 199A). This provision, unlike the corporate tax cuts, is strictly for businesses known as “pass-through entities.” In terms of taxation, there is only one corporate entity that actually pays taxes, the C-Corporation.
A C-Corporation is usually very large and is primarily structured in order to take on shareholders, as a public company or one that is traded on the stock market. Every other type of business, from a tax standpoint, is known as a pass-through entity. The new deduction for Qualified Business Income (QBI), allows you to deduct 20% of your “qualified business income” from your total business income. For example, if I made $100,000 in profit from selling paintings as an artist, I get to deduct 20% of that — ie, $20,000. This benefit is phased out for individuals making between $157,500 ($315,000 if married) and $207,500 ($415,000 if married) in a number of service-based fields. There are a ton of details and restrictions in this particular new provision, especially if your income falls within the phase-out window, so know that you need to do research or talk to your accountant before you apply it. - Hyperallergic.com
Happy Friday and welcome to the last month of the year! I hope this year has been as wonderful for you as it has been for me. Forty was definitely fabulous, and filled with so many positive things. As I reflect on the last year, I can think of so many things to be thankful for both personally and professionally, below are our top 10 for 2018: