Are you ready to hire?

The Seattle Gift Show is in open down at the Convention Center and I was there opening day with a friend who is in the process of opening a business.  After we got our badges, were scanned in and walking down aisle after aisle of booths, she starts telling me about hiring an employee.  Her business isn't open...she's not generating any revenue yet...and doesn't have a business or marketing plan.

So this go me thinking - how many business owners get frustrated with the long list of tasks it takes to launch a business and wistfully dream of having someone do the work for them.    Over the years I've started three businesses and I can testify that I had the same dream.  But if your bank account is low on funds, you have no sales or revenue coming in, you certainly can't justify the expense of hiring an employee.  And if you have no business or marketing plan what tasks would this person be doing??? 

Instead find a buddy to partner up with.....maybe someone who will trade their expertise for yours....or even better dig down deeper to find out if you really have what it takes to be a business owner.  

There are no short cuts in business....just lots and lots of work and the reward is the business is yours...that's a good thing.

5 Fashion & Function QuickBooks Tips

Working in QuickBooks can be boring...confusing numbers, dull desktop colors, and perplexing navigation....so jazz it up with our tips.

1.  Personalize Desktop View 

Under the Edit tab, scroll down to Preferences & choose Desktop View. 

Make Navigation easier when you click Multiple Windows box. 

 Next scroll down to the Color Scheme, find the one

that fits your personality.

 Sure, you're still working in QuickBooksTM but now you're snazzier.

2.  Use Enter  between fields.

Move down the list to General.  There are lots of choices here but the number one time-saver is "Pressing Enter moves between fields".  

We are all  used to using the Enter key it's   a no-brainer to activate in QB's.

3. Customize the Icon Bar.   

QuickBooksTM sets up a general Icon Bar during installation so customizing it gives you the control     for the way you work.

Add the Calculator, Delete Estimates, Edit the layout...move the content around anyway you want....you're in charge and that's a good thing.

4. To Do Lists

As we get busier and busier, having up to date lists gets critical.  Open the To Do List when you open QuickBooksTM for a glance at what's important today. 

Add a reminder, mark as done, or print out the list to keep on your desk...that's smart.

5. Business Reminders  

To keep on top of everyday transactions use Reminders.  You'll never lose track of Bills to Pay or Invoices to send, and more importantly, those that are overdue.

Just another way to work smarter.

+1 Bonus:

IntuitTM  adds extra value every year to help entrepreneurs use QuickBooks to grow their businesses.  Now you can create newsletters, invitations or special notifications using      your customer contact list in QuickBooksTM. 

Savvy Women's Guide to Bank Deposits

What do you love? That's right....getting paid by your clients!  So when they want to pay with a credit card or through Paypal do you cringe?  Oh, the headache of entering these tricky transactions into QuickBooksTM....is it a Payment or a Deposit?

 It's all so confusing, what are you to do?

To simplify the process we've created this easy to follow visual Guide...just for YOU!

Click to download

FYI:  New Solutions for QuickBooksTM
Scan and deposit your checks with Intuit Check Solution for QuickBooksTM. Eliminate almost all the time you spend depositing and accounting for check payments. Subscription required; scanner required. Scan. Deposit. Done.

Your Business needs a Bank

Often when you're starting up a new business it       doesn't seem practical or necessary to open a new bank account especially if you're not making much money and are using your own cash building the business.

But if you are serious and want the IRS to be serious too, you'll want to open a separate business account.  The Internal Revenue Service recognizes a business as a business rather than a hobby if you have a separate business bank account, business cards, and a well-maintained set of business records.

The IRS is very tough about showing that your business is actually a business and not a hobby.  Basically, you have to show a profit on your IRS Schedule C three years out of every five.  If you have losses that you deduct from your income three consecutive years, then the IRS may decide you are conducting a "hobby business" which would impact the deductions you took on your personal tax return too.  You may owe more taxes after your income is restated...worse than a bad hair day!

But there are many businesses like Amazon, that started in 1994, and didn't turn a profit until 2001 and, because the intention was always there, were not a target for an IRS audit. So don't stress losses as long as you back them up and you have the receipts and bills to back up your expenses.

 Of course, you'll want to appear professional.  It's much classier to have your clients and customers write a check made out to your business instead of you....no eye rolls or weird looks,  then either.   Serious business owners have all the tools they need and a bank account is a must-have for your toolkit.

Bank regulations now require State and/or Federal licenses and registrations, 
especially if you are an C or S corporation, to open an account.  Before you
head off to bank, make copies of your documents and you'll feel so proud
leaving with your brand new bank account....now you're legit.

What do Skills have to do with Your Success?

Starting and running a business is exciting and most of the time a little (or a lot) scary.  Every day there's work to be done...some tasks are in our comfort zone and some aren't.  It's only natural that we avoid the work we don't understand or is more challenging to us.

Preparation is key whether you're just launching your business or ramping up to the next level.  Take some time to analyze your skill set...what do you need for your craft and what do you need for the business side of your business.

No doubt you are accomplished at your craft whether you're a graphic artist, web designer, or plumber.  You feel confident reviewing the scope of work to land your dream client, and jump starting your creative juices to finish in time, and your attention to details keep clients coming back for more.

But back to the Business of Business....I see very accomplished business women struggle when it comes to their business skills.

At a minimum business owners need these skills:

Sales - We're all selling something

Marketing - How customers find us

Bookkeeping - Tracking the in & out of money

Customer Service - Creating a tribe of evangelists

Master these skills even if you will end up hiring or outsourcing some of these tasks...a smart entrepreneur can do everything.  And when you build a firm foundation you'll confidently and skillfully maneuver your business in a new direction, drop products that aren't profitable, or improve your sales.

"Without passion, all the skill in the world won't lift you above craft.  Without skill, all the passion in the world will leave  you eager but floundering.  Combining the two is the essence of the creative life."  The Creative Habit, Twyla Tharp

Focus, Focus, Focus

Here's the real low-down on what's going on in my world right now and maybe yours too.  My Dad is on hospice care which means six months or less and he's been on hospice care for two months.  It's excruciating to visit him now...my vibrant, hard charger of a Dad is fading away.  My heart breaks every time I leave wondering if this is the last time I'll see him.  As with many families in times of stress, some family members are becoming more prickly, more isolated, and more edgy...and this might be me too.

My decision to talk about this came as I heard from more and more friends and fellow business owners they were facing the same thing and struggling to keep their business afloat at the same time.  I'm sure it's no coincidence that it was women sharing their stories of balancing their parents, children, grandchildren and their business.

During the first month or so I found myself having a glass of wine every night or reaching for the bag of chips or taking a Tylenol PM and going to bed at 8:00.  Well, that's only helpful for so long and not very practical but I was still struggling emotionally on so many levels...how do I maintain my emotional equibrium and how do I nuture my business at the same time?

At networking events, on teleseminars, any business book or blog there's lots of chatter about focusing on our business and we do except when we don't.   Our personal world collides with our business world on a daily basis and mostly we smoothly transition from one to the other but when a game changing incident rocks our world it's disorienting.  What is our priority.....what's a need...what's a must...and what's a should...and what's a nevermind?

When we take diving into a bottle of wine or a package of Oreos off the table what's left?  Rational, thoughtful choices, that's what.  Sit still with the swirling emotions and find the quietness.  I write a list of what I can change and what I can't and remind myself that really I'm in charge of very little in this big, wide universe.  So I take long walks whenever I feel out of control or head down tohe beach and watc the tide...a bit of calmness in nature.

What's your story?  Where do you find calmness?  Please share so we can all support each other through these life altering times.

What's your Attitude?

Money drives your business.  Can you afford to hire employees?  What's your budget for marketing?    What's your total sales for the day....the week....the month?

If you're just starting out or perhaps your business is gone stagnant while you weren't looking you might be thinking YIKES, now what do I do?

Well, don't panic.  Take a moment to breathe, jot down some notes of what you're really good at and what lights you up.  If you can't up come up with anything call a friend or two or even three and ask them what your good points are.  It's important to ask people who will tell you the truth rather than those that will just shine you on.

Ok, next is the money part.  When sales are down, creditors are calling, and the rents due it's hard to stay positive and easy to blame the economy, the neighborhood, your bad customers.   Really, though...is that why your broke? 

The world is full of millionaires and even billionaires.  While some businesses are floundering others are thriving....ever wonder why?   It's all about Attitude...scarcity versus abundance.....fear versus confidence....uninformed versus curious.

As a business owner we must have an attitude of Abundance, Confidence, and Curiosity. And when doubts creep in, as they do for all of us, keep moving towards your goal...just do it.