Business Discussions

“What's in a name? That which we call a rose by any other name would smell as sweet” -Shakespeare   Guess what? You did it! You made it through another work week and it’s finally Friday. Today I want to share with you an article I found from inc.com that’s a little different and a little fun. It covers mistakes to avoid when it comes to naming your business.   “Would Google still be Google if the founders had stuck with their nickname for the business and called their company BackRub?…And which would you prefer, a Pepsi or a nice cold can of Brad's Drink?”   Here are a few points to think about when it comes to naming your business: Do your legal research When asked, many entrepreneurs relayed this piece of advice first; don’t set your heart on a name until you know it’s not already taken. We live in a world full of trademarks so make sure you have a brand new one before you go official.   Check digital presence Another factor to think about whe

Hello everyone! I hope you guys are having a productive day and achieving all that you have set out to do. I have been looking for ways to improve my communication, but in particular active listening. At times I tend to zone out of conversations and not make an effort to fully understand the message because I'm distracted by something else. Even M.Scott Peck said, "You cannot truly listen to anyone and do anything else at the same time." So here are some stages of active listening I have been applying, which can be helpful to you in business communications.     ReceivingIn this step, you want to be able to isolate all distractions, even if it means putting your phone on silent for a few minutes or closing down your laptop screen to focus on what the person is saying.   UnderstandingAt this stage, you want to be careful not to assign your perception of the message. Instead, focus on what the person is experiencing and sharing.    RememberingFor me, this is one

It's Friday, friends! Welcome back to the Business Discussion space. I've shared several articles with you that cover many topics. One of the most popular themes deals with starting your business. Well what happens after you've started and grown your business? Today I want to share an article from gildshire.com that discusses the next step - signs your business is ready to expand. Here's what they had to say:   Your Industry is GrowingWhether it's food, retail, technology, whatever your industry may be, after your business has seen some success, take a look at the industry as a whole. As the article mentions, if the industry is taking off and there are limited companies within your field, and especially in your local area, it may be the perfect time to expand. "By capitalizing on the demand for your product within the industry, you are almost guaranteed success with your growth."   Your Team Has Holes to FillSpeaking of taking a look at things, look at your team. Ar

Hey Community, and happy Thursday to you! It's never a bad idea to get back to basics from time to time. For example, I found a great write-up in the QuickBooks Resource Center that covers everything you need to know about invoices. Let's take a look, shall we?     Definitions are always a good place to start. An invoice is "a document used to itemize and record a transaction between a vendor and a buyer."   What is the purpose of an invoice?Typically this document is used as a means for the vendor to show the buyer how much they owe them. Some customers may owe a business for a few different product and/or services which means they have open invoices. Businesses can view open invoices to monitor their cash flow and have a good prediction of how much money they can expect to be receiving. In addition to outstanding balance info, invoices also keep track of sell dates and how much they business charges their customers.   Is an invoice a receipt?While very similar in

Happy Wednesday, and welcome back to another segment of Talk About Your Business. Sooooo..I have recently done a class, where we were discussing exemplary leadership practices, as developed by Kouzes and Posner, which include modeling the way, inspiring a shared vision, challenging the process, enabling others to act, and encouraging the heart. I found that this helps me, and I thought it would be beneficial to you. Let's see what each one represents, shall we?     Model the wayExemplary leaders need to be transparent with the company values and setting an example for others through actions. For example, instead of giving employees a list of rules to follow, please do not make it appear as if it is a different requirement for management. A leader needs to exhibit a unified front and follow the same code and values.   Inspire a shared visionEvery business usually starts with a vision. However, to convey this message about the future of the company to others can be a chal

Everyone loves it when there is a little bit of money left over in the budget at the end of the month, or when that tax refund/work bonus/other unaccounted for money shows up... but what do you do when you get it?  I asked the team how they handled financial windfalls, and as you might expect, the answers are as varied as can be.     Here is what everyone had to say:    ++++++   From Morgan: What to do with a windfall? Hmm. I’d usually have a harder time answering that question but now that my husband and I have become homeowners, the answer is easy. Leftover budget money and tax refunds are going to home renovations. Our house was built in 1977 and I don’t think anything had been updated since (I never want to see floral wallpaper again). We’re currently working on removing all the wallpaper to paint, tearing up carpet and replacing it with hardwood floors, and several other updates. We like to build our savings account but currently the majority of

Hey, Community and happy Friday! June is here and it's almost officially summer. With that, you may be looking to start a summer side hustle or maybe even a full time business. I found an article on inc.com that outlines some great tips for your warm weather endeavor.   Set a price to win customersOne summer, many years ago, my friend and I sat up a lemonade stand in my front yard and charged 25 cents per cup. I think we made around $40 and thought we had struck gold. That is quite a bit of lemonade though. The point is you couldn't beat the price. Beyond a lemonade stand, you're guaranteed to make more sales, more often, with a price that can't be passed up. The young entrepreneur mentioned in the article started a dog-walking business and offers half off for first time customers so they can try the service at a cheaper price. This is an excellent method to bring customers in, then impress them with your work so they'll keep coming back.   Start marketing earlySpea

Hey, Community! Here we have another wonderful Wednesday to visit the Business Discussion page. Today I want to talk about being creative, or getting in the zone to create. The trait of being creative can be useful in both your work and personal life. If you're like me, you may have a lot on your plate and find it difficult to channel some creativity. Here are a few ways to change the vibe and help the ideas flow:   Clean up your work spaceThis is a huge one for me personally. I absolutely cannot focus on anything in a messy area (it drives me insane). Work or play, whatever the space may be, get it tidy before you put on your thinking cap.   Get outsideGoing outside for some fresh air is a great way to wake up your brain. A few minutes spent outdoors will help you disconnect from stress and regain focus.   HydrateDehydration can have a lot of negative effects on the body, one of those being brain fog. Making sure you're well hydrated allows your thinker to fire on all c

   1. Send Invoice          2. Receive Payment into       3. Bank Deposit  "Undeposited funds”      The Undeposited Funds account in QuickBooks Online serves a special function – it’s a special temporary account that QuickBooks uses to hold payments received from invoices before you deposit them into in the bank. This workflow is especially important for QuickBooks users who don't process transactions through QuickBooks Payments and import payment data from external processing services.     Why should I use the Undeposited Funds Account? The Undeposited Funds Account is an internal “other current asset account” created by QuickBooks to hold funds until you are ready to deposit them. Imagine the Undeposited Funds account as the lockbox or safe  (or drawer) where you keep payments until you are ready to take them to the bank.   The Undeposited Funds account serves as the default

It's Friday and welcome back to another Business Discussion! I hope all is well and you're excited about the weekend. I know I am especially since my sister will be graduating today. Yay! Class of 2021!  Today, I have found a helpful article dealing with time management tips for Small Business Entrepreneurs by RTE. Here's what they had to say:   Audit your working week.Honestly, I never thought about this one. I mean, it can be time-consuming at first when you have to record everything you do in a day. However, on the flip side, you can see exactly where your time goes and ways to improve or remove distractions that could hinder your productivity.   Put a monetary value on your time.This is another neat point that interested me. The writer suggested making a list of activities that you can profit from and a list of what you spend time on. Once you put those lists together, it is guaranteed that there are inconsistencies, and they don't align. I decided to test this theor

Hello Community! We did it again, we made it to Thursday! After a week of cloudy skies and rain, the sun is finally out and my peonies have bloomed! It’s going to be a good day. :) Today I’d like to give you some of the most important tips from small business owners. Let’s get to it!   Be meticulous with your recordsPretty self explanatory but one of the keys to a successful business is having accurate and complete records. This includes payroll, transactions, reporting, etc. Accurate records means having a realistic view of how your business is actually doing while also making sure you have the information you need to make important decisions. You’ll be so thankful during tax season!   BudgetYes yes, this is not a strong point for everyone but budgeting is important because without it, you aren’t able to plan for future expenses. Give yourself a healthy look at where your money is going, where you can cut back, and maybe an area that needs a little attention. Budgeting

  Managing PayPal Bank Feeds can be tricky for any QuickBooks user, but Intuit Champion and Advanced QuickBooks Online ProAdvisor Steve Chase is here to help! Join Steve right here in this thread on Tuesday, May 25th, to get answers to your questions on: Recording PayPal Bank Feeds Expenses and Transfers Recording Paypal Sales transactions Customizing the Connect with Paypal App Settings How to Download Paypal Statements for Monthly Reconciliations ...and more!    Post your PayPal Bank Feed questions in the comments below and Steve will answer them live on Tuesday from 8 am - 10 am PT. 

Chances are at some point in your life you have been asked about your hobbies or interests - it is a fairly common ice breaker for work meetings and a staple of online group applications.  And if you are like me, then you can sometimes scramble to come up with an answer.  I mean, sure, I knit, but does that count as a hobby?  And can you count travel as a hobby when you only do it a time or two a year?     But recently I came across an article about how people have been spending their time during quarantine and I thought that it'd be fun to ask people what their more interesting or unusual (to them or to the world) hobbies or interests are.   Read on to see what the team had to say.       ++++++ From Lisa:  Ok, so I am definitely a bit of a magpie when it comes to hobbies and/or interests, jumping from shiny to shiny as easily as can be.  But here are some of the ones that have stuck around for a bit:  I have

It's finally Friday! The weather has been so nice lately and I can't wait to be outside all weekend! How about you, what are your plans? Before you switch over to weekend mode, I've got an article for you to check out. I found it on inc.com and it covers a few ways to help your employees be truly engaged in the workplace. Here are the key points:   Culture CodeYour company culture encompasses everything the business stands for. This includes the mission and values that are to be clearly defined early on and mentioned often. As stated in the article, "Your values and mission statement need to be more than just a memo at the bottom of a training packet. They should be communicated to team members on a regular basis so that they remain top of mind. When the entire team is mindful of company values and goals, it will be easier for them to work toward this higher purpose."   Strong CommunicationAs a Comm. major, this one is near and dear to me. Communication plays such a

    Darren Root and John Mitchell of Rootworks identify the 13 core business model elements for firm leaders to follow as they create their modern accounting business.    

Happy Wednesday Community! Hope the first half of your week is going well and giving you that energy to get to the weekend.  We’ve talked a lot about connecting with your customers and how to engage with them, but let’s turn the focus on you. Do you have connections in your industry? Do you find it hard to find other business owners to talk to? Never fear, I have some ways for you to get out there and meet likeminded people. Let’s get started: OnlineYou probably saw this one coming, huh? But the truth is networking this easy has got to be a priority. Reaching out online to other business owners, or finding Facebook groups literally requires minimal effort and …you can do it from home in your pajamas. Search for businesses locally to connect and even cross promote each other. Maybe you do house painting and find someone else locally who does roofing. This is an easy way to get your name out there, even when you aren’t physically with that customer. ConferencesYes we’

Hello Community and Happy Friday! We did it, we really did it. :) Some weeks speed by and others feel like they’ve barely moved. Work piles up, little things slip through the cracks and before you know it, you’re behind. It’s easy to feel overwhelmed when this happens but never fear! You know we always have your back here in the Community. I found an article from Fast Company to help us out today. Here are some tips and tricks when you’re dealing with too much work.       This article starts by talking about “hell week” during Navy Seal training. Researchers found there were two types of people during this time: taskers and optimizers. Taskers take one job at a time and the goal is to complete that one and then deal with the rest. Optimizers looks at all of the tasks at one time and try to figure out how to approach each one. The question then became, who’s more like to drop out?   The optimizers made up a large majority of drop outs, hands down. Surprised? Looking

Welcome back to the Business Discussion Board! I have a quick question for you. When last have you told your customers thank you or shown appreciation for them? And I'm not talking about the generic ones like " Thank you for your services" but more personalized ones. The reason for mentioning this is that it shows the customer that you value them and the relationship you have built.     Let's be honest, who doesn't love a nice thank you letter or note. When I receive one, it makes me feel appreciated and valued. This simple act of kindness can increase the customer's experience, making them share your superb services with others. I would even include vendors you interact with. These qualities would make companies and customers want to work or purchase your services more. Here are some tips when it comes to creating this:   Handwrite or type your thank you card to send to your customers/vendors by mail, social media, or email. When starting,  verify that you have

We have already talked about our favorite splurges, and how we keep our budgets under control during the holidays, so it seemed like a good time to talk about budgeting for planned expenses.   Whether it is for something fun like a vacation get away, or something practical like a new appliance, it's always better to plan and budget for it if you can, so I asked some of my teammates to chime in on their best budget plans and tips, and here is what they had to say:    ++++++   From Sasha:  Since I will be graduating in 2022 with my MBA, I found it fitting to treat myself to a vacation. After a lot of convincing from my college friend (who lived there) and researching, I have decided to go to the Philippines. Once I got a general idea of the plane ticket prices, the adventures I want to go on, and other factors, I realized that I would have to save a lot of money and I took the first step of opening a traveling account. This account, as the name indicates, w

 Happy Wednesday!  and welcome back to our discussion page. Recently, I have been seeking ways to improve my personal and professional development. I was encouraged to watch a youtube video by Randy Paush call the "The Last Lecture." This was my first time learning about this person, and I wish someone told me about him sooner.     Just a little back story, he was a computer science professor at Carnegie Mellon who change the game as we know. He was later diagnosed with pancreatic cancer. Once discovering this, he was inspired to leave a legacy behind, and that is where this inspirational lecture called "Really Achieving Your Childhood Dreams" came to life. Today, I wanted to share one statement from this that really resonated with me.    "The brick walls are there for a reason. The brick walls are not there to keep us out. The brick walls are there to give us a chance to show how badly we want something. Because the brick walls are there to stop the peop

Happy Friday Community! This week may have felt like it moved at a snail’s pace but we finally made it. :) I’m looking forward to having a relaxing weekend and celebrating the wonderful mothers I have in my life. While there are so many factors that make someone successful, some common denominators exist that may surprise you. It all starts with…(drumroll please)…..How you begin your morning. It’s not all about hustle, who you know in the biz, or your education. What exactly are successful people doing in the morning? Let’s dive into it! They wake up early (but get enough sleep)This can be a hard one but getting up early consistently is great for being productive and giving you time to prepare for the day. Equally important is getting the recommended 7 to 8 hours so that when you wake up, your body is recharged and set up for success. Sleep has been linked to so many health benefits and even helps with stress. Get your sleep, start your day early, then make some money. T

Good Afternoon, QuickBooks Community! How are you feeling today? As one of my favorite songs lyric goes,  " I'm feeling blessed, never stressed...". Anyway, since it is Small Business Week, I decided to dedicate this post to you. For those who may not know what Small Business Week is, the US Small Business Administration celebrates this time to recognize the contributions of entrepreneurs and small business owners.     I would like to personally thank every one of you that help make this economy what it is. Interestingly enough, there are 27 million small businesses in this country, and you generate about 50 percent of our Gross Domestic Product.  Aside from this, I appreciate you creating jobs, being innovative and creative, and providing opportunities for many people. I encourage you to take the time to celebrate all that you have been through the years.   With 2020 being a challenging year especially, you did the best you could do. Some were able to adapt

Happy Wednesday to all! I’m loving the extra daylight we’re getting and sunny skies! The best job anyone can have is one where you enjoy the people you work with and who you work for. As an owner, you can totally foster that team spirit with your employees and create a positive environment where people enjoy being there. I was recently thinking about how important this is especially after 2020 where so much was going on for everyone. So let’s get to some ways to boost morale!     One on One MeetingsMeetings are really important to get everyone on the same page with certain practices or give necessary updates. But they don’t replace you sitting down individually and talking with your people. This is an opportunity for your employee to ask you questions, get feedback, and maybe even express interest in other positions or responsibilities. This can also be a time to just connect and talk about day-to-day things as well.   AppreciationFood is the way to anyone’s heart but s

As more and more of the country is moving firmly into Spring territory, I asked around to find out how my teammates spend their time when they aren't working, here is what they have to say:      ++++++   @continea I'm not sure if you consider this an outdoor activity, but boy, do I love road trips. This week my best friend and I decided to drive all the way to Crystal River, Fl, and Yankeetown, Fl to chase the sunset! Nothing like having the windows down, hair blowing in the wind, and blasting some old-school reggae music. The vibes are simply immaculate, but the best part about it is the beach and the appreciation for nature.         It was fascinating to see the full moon and the sun out at the same time! We even found an abandoned boat, but we were too chicken to take a closer look. From these moments, it feels like all your stressing and worrying fades away, and it's total bliss after that! Here are some shots I took from our adventure! &n

Happy Friday, QuickBooks Community! I hope you guys are having a productive day. In honor of Earth Day, I want to share a project that Outside (parent company of Podium Runner) did with Soles4Souls to help keep "old sneakers out of the landfill." I will be honest with you, growing up in the Caribbean, I have never heard about Earth Day or celebrated it. If there was mentioned of those words, it was in reference to someone's birthday. We would say Happy Earth Strong Day! It wasn't until recently ( like three days ago) I learned about this. While researching, I have seen companies such as Lowes hosting a SpringFest giving away free garden-to-go kits during April to support the climate. However, the Outside company efforts stood out to me the most.       How many of you have old sneakers or boots lying around in your closet or bins? I will say I have about one or two. Over time active gears remain a problem, especially when it comes to recycling because it can be very cost