Your browser (Internet Explorer 6) is out of date. It has known security flaws and may not display all features of this and other websites. Learn how to update your browser.
X
Audio

Are You Overpaying Your Taxes – Diane Gardner

Stick Like Glue Radio #124 On this episode of Stick Like Glue Radio I interview entrepreneur and tax coach Diane Gardner, which works with entrepreneurs and small business owners all over country. This is a nugget rich and money saving show – do not miss it!

Download MP3
Stick Like Glue Radio www.getjimpalmer.com

On this episode of Stick Like Glue Radio I interview entrepreneur and tax coach Diane Gardner who works with entrepreneurs and small business owners all over country. This is a nugget rich and money saving show – do not miss it!

Main Questions Asked

  • What is a tax coach and why do small business owners and entrepreneurs need one?
  • What are the biggest mistakes you see entrepreneurs and small business owners make when it comes to tax?
  • How would a small business owner work with someone like yourself?
  • Are there any general rules about LLC versus S-CORP?
  • How does a business owner decide what type of business they should have?
  • If someone is a solopreneur, how do they decide at what point to get financial help?
  • What is the difference between tax preparation, tax projection and tax planning?

 

Key Lessons Learned

  • Billions of dollars are overpaid each year by small business owners due to not taking advantage of deductions
  • Less than common deductions can mean thousands of dollars each year on tax
  • A tax coach takes a look at your tax and financial information, conducts analysis and identifies areas where you are possibly overpaying taxes

Tax Mistakes 

  • Businesses often outgrow their initial entity type e.g sole proprietor, LLC or S-Corp
  • Having the wrong entity for your business is a big tax mistake that can cost you

Deciding on your Entity

  • An LLC is very flexible and can act like a sole proprietorship or a general partnership, S-Corp or C-Corp
  • LLC are state controlled and some states don’t recognize or ‘like’ it
  • When deciding on what kind of business you should be, it pays to do an in depth analysis from a liability and tax standpoint
  • Ask yourself how much liability exposure you have in your business, how important is continuity of life and fringe benefits?

When to Get Assistance & How It Works

  • Its best to have a professional assist with your tax return from the beginning
  • When you have employees is a good idea to have a book keeper as some laws are federal and some state
  • These days you can work with a professional easily; Email, phone, skype, mailing, Dropbox is all part of working with a remote tax assistant or tax coach

Tax Preparation, Tax Projection and Tax Planning?

  • Tax Preparation –  Recording history of what happened in the previous year
  • Tax Projection – A separate engagement and takes historical data and have consultation on what business is doing in the current year
  • This estimates the business expenses as well as gross and net income
  • This gives the business an idea of how much tax they owe in the coming year
  • Tax Planning – Working into the future 3-5 years
  • Takes an all encompassing look at the personal and business life
  • Look for money already being spent that could potentially be a tax deduction

 

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!

Links to Resources Mentioned

Adept Business
Obama Care Survival Guide
The Newsletter Guru
Stop Waiting For It To Get Easier
Tax Coach 4 You

Diane@adeptbussiness.biz

 

Click to Tweet

What is the top tax mistake businesses make? Find out with tax coach @gardner_diane www.getjimpalmer.com

Are you overpaying your taxes? Find out with tax coach @gardner_diane www.getjimpalmer.com



Click Here To Share:
Video

Liquid Leadership with Brad Szollose

In this week’s short but powerful episode from Chicago Illinois, I interview Brad Szollose, the country’s leading authority on multigenerational management. Brad is also the author of the bestselling book, Liquid Leadership. Don’t miss this powerful show.



Click Here To Share:
Audio

How to Quit Working with Jeff Steinmann

Stick Like Glue Radio #123 On this episode of Stick Like Glue Radio I interview entrepreneur best-selling author Jeff Steinmann who write the book, How to Quit Working! Jeff share lots of entrepreneurial nuggets in this show – do not miss it!

Download MP3
Stick Like Glue Radio www.getjimpalmer.com

On this episode of Stick Like Glue Radio I interview entrepreneur best-selling author Jeff Steinmann who wrote the book, How to Quit Working! Jeff share lots of entrepreneurial nuggets in this show – do not miss it!

Main Questions Asked

  • Why is it so important for people to quit their job and start their own business?
  • Is it true that 70-80% of people are not happy in their current job?
  • Why is it important to create an income that doesn’t require you to trade hours for dollars?
  • How can people create a business that is scalable, mobile, and makes you happy?
  • Why does burning bridges help people be successful?
  • What are some of the 13 decisions entrepreneurs must make when they decide to move forward?
  • What do you say to someone who wants to quit their job but doesn’t know what to do?

Key Lessons Learned

  • Time is the only true resource that is worth anything
  • Make time the most important thing so you are doing something you like and care about
  • Most people don’t think its possible to leave their jobs but it is
  • The reason so many businesses fail is that we are not taught how to run them properly
  • People think that starting a business is hard due to the high failure rate and common misconceptions
  • The top reason businesses fail is because people run out of money
  • If you have a needed item and your marketing is right your business with catch hold
  • Businesses don’t fail, people quit
  • Create assets that make you money on an ongoing basis

3 Categories of Time

  • 1) Sustaining- e.g eating, medical, cleaning house, dropping the kids off at school
  • 2) Living  – pleasure activities e.g theatre, boating, spending time with family
  • 3) Building – things that increase the quality of time you spend ‘living’ in the future
  • The real value is spending less time ‘sustaining’ and more time ‘living’ as you don’t get any value back. Spend more time in building.

How to Quit Working

  • A lifestyle business must be scalable, mobile, and must make you happy
  • Start with a premise that your time is the most important asset then the rest falls into place
  • When starting out, think about what happens when your clients double, or your sales triple. What will that do to your time?
  • A job that you ‘own’ is the worst of entrepreneur ship and the worst of employment

Burning Bridges

  • Figure out a way where you have no choice but to move down the path to success
  • Our primitive instinct for safety is what causes us want the option of returning to work in case something goes wrong we have a back up plan for survival
  • Burning bridges changes your mindset as you know there is not other option but to succeed

Decisions Entrepreneurs Must Make

  • Listen – Decide who your customer is and understand them. What are their problems and how can you solve them?  What will solving those problems really do for them?
  • Responsibility – Every single thing that happens is your fault. It shows you are in control of everything whether good or bad.
  • Physical Health- You have to make the decision that you will take care of yourself physically. This is your vehicle so take care of it.

Advice on How to Quit Working

  • No matter how difficult you think your situation is, there is someone in a worse situation who has made it work.
  • If you want to not be part of a business that fails then flip around the way you think about business
  • Identify a product or business that people want then get an audience for that service

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!

Links to Resources Mentioned

How to Quit Working  
Shark Tank
Stop Waiting For It To Get Easier
 
Click to Tweet

Ever wanted to Quit Working? @jeffsteinmann tells Jim Palmer how its possible on this episode of Stick Like Glue Radio www.getjimpalmer.com

Best-selling author of ‘How to Quit Working,’ @jeffsteinmann reveals how to maximize the 3 categories of time www.getjimpalmer.com



Click Here To Share:
Video

Business Lesson from Venice Beach, CA

In this week’s short but powerful episode from Venice Beach, CA, I talk about the number one thing entrepreneurs need to do to grow, yet many struggle with it. Don’t miss this powerful show.



Click Here To Share:
Audio

Franchising as an Option with Tom Scarda

Stick Like Glue Radio #122 On this episode of Stick Like Glue Radio I interview entrepreneur and franchise expert Tom Scarda. Franchising is often a viable option for business growth and Tom sheds light on this strategy – do not miss this call!

Download MP3
Stick Like Glue Radio www.getjimpalmer.com

On this episode of Stick Like Glue Radio I interview entrepreneur and franchise expert Tom Scarda. Franchising is often a viable option for business growth and Tom sheds light on this strategy – do not miss this call!

Main Questions Asked

  • Tell us about your book The Magic of Choosing Uncertainty
  • What are the best franchises?
  • Are the best franchises service or home based?
  • What are some of the ways you can judge a good franchise from a bad one?
  • What is the investment level one can expect to make for a franchise?
  • What are some good questions to ask a franchise company?
  • Is 50 years old too old to get started as a franchisee?
  • How many franchise concepts are there?
  • Is there any business that is not a good fit for franchising?

Key Lessons Learned

  • Choosing uncertainty is the scary area when you are choosing to jump
  • The real decision is between unhappiness and uncertainty

 

Franchises

  • There are more than 3,000 franchise concepts spanning 90 industries
  • A franchise offers a proven concept and blueprint that helps with uncertainty
  • A franchise is a business with training wheels
  • Anybody can franchise anything as long you get a franchise disclosure document printed and distributed to your prospective franchisees and follow up with the Federal Trade Commission
  • A business doesn’t have to be profitable to franchise it, rather it’s a matter of if someone will buy it then good for you
  • Whether it’s a service or product based business, franchising is a relationship business
  • Franchising is an extremely transparent business model
  • When you have a franchise its like having stockholders as you have to answer to other people
  • A bad franchise is something that relies on the personality of the founder

Supporting Franchisees

  • Its not a question of what you are legally obligated to do but what you have to do to make them successful
  • If you don’t help franchisees be successful you will not sell more franchises and the word of mouth will be that franchisees are unsupported

Choosing a Franchise

  • Take an inventory of your skills and personality
  • Ask yourself “how do I want to spend my day?”
  • Have a business that people ‘need’ but not ‘want.’ You don’t want to be the first thing people cancel when they lose their job or a recession hits
  • Unsexy businesses like ‘water restoration’ is a great way to go but most people start with a food category in mind
  • The best way to figure out if a franchise is really good is to talk to the franchisees
  • The Franchise Disclosure Document (FDD) is a 23 items that every franchise company has to comment on. One of those items is how many franchises left or were added to the system in that year
  • The FDD has a list of every franchise owner in the country and you are allowed to call and ask questions

Franchise Investment Figures

  • Service Businesses: $50K – $150K
  • Small Stores: E.g Subway $200K-$500K
  • Quick Service Restaurants: E.g McDonald’s, Wendy’s, TGI Fridays, Taco Bell $1-2M

Questions to Ask a Franchise Owner

  • Now you’ve been in it would you do it again?
  • What is your vision for the next 5-10 years?
  • What are the pitfalls I should be aware of being a franchisee through your company?
  • What are the personality traits of the top performers in your company?

Franchisee Age Range

  • Owning a franchise is usually someone on their second career
  • The average age of a franchise buyer used to be 42 yo
  • Post recession is the average age is now 56 yo (too young to retire but aged out of their job)

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!

Links to Resources Mentioned

Tom Scarda
Franchise Savvy
International Franchise Association
The Magic of Choosing Uncertainty
The Newsletter Guru
Stop Waiting For It To Get Easier

Click to Tweet

Ever thought of buying a franchise? Expert @tomscarda talks investment, FAQs & what to consider when choosing www.getjimpalmer.com
 

"A franchise is a business with training wheels." Franchise expert @tomscarda explains how to get started www.getjimpalmer.com



Click Here To Share:
Video

You Can Be Bitter or Better with Tom Sutter

In this week’s powerful episode from Chicago, I interview Tom Sutter, the co-founder of Cal’s All Star Angels, a wonderful non-profit helping kids with pediatric cancer. Don’t miss this powerful and moving show.



Click Here To Share:
Audio

Blogging Strategies with Rebecca Livermore

Stick Like Glue Radio #121 On this episode of Stick Like Glue Radio I interview blogging and content creation expert, Rebecca Livermore. Rebecca shares some great tips to create content and get it read – do not miss this call!

Download MP3
Stick Like Glue Radio www.getjimpalmer.com

On this episode of Stick Like Glue Radio I interview blogging and content creation expert, Rebecca Livermore. Rebecca shares some great tips to create content and get it read – do not miss this call!

Main Questions Asked

  • Why should entrepreneurs and small business owners care about blogging today?
  • Has blogging become passé as compared to newer social media strategies?
  • What are the biggest challenges with blogging?
  • How important are likes, shares, and comments?
  • How often should people be looking at Google Analytics?
  • What strategies do you have for getting fast results for someone starting out?
  • How do you come up with content ideas and what to write about?
  • What does it mean to write a blog with your ‘unique voice’?
  • What do you think about repurposing content?
  • How many places could you use content from a blog post?

Key Lessons Learned

  • A blog is the heart of your presence online especially when it comes to your content
  • A lot of what we do on social media is sharing what we put on our blogs
  • Everything we do online can drive traffic to our blog
  • Your blog is the one piece of online real estate you own (YouTube, Facebook and other platforms can change their terms of service or disappear e.g Facebook is turning to pay-to-play model)
  • For years people have said ‘blogging is dead’ yet it continues to grow
  • People are turning to podcasting because there aren’t as many podcasts as there are blogs (you can also put the podcast on your blog)
  • If you continue to release content in on a number of platforms you will eventually attract the right clients and prospects

Challenges

  • When something is challenging often people won’t stick with it (use this to your advantage and keep going)
  • Consistency – challenges include content ideas, frequency and posting schedules
  • Time – be realistic about how much time you can devote to blogging and develop your own blogging rhythm (frequency)
  • Comments – You can’t take your comments to the bank so measure the things that matter

Google Analytics                       

  • Instead of focusing on the numbers of Google Analytics look at the growth each month
  • You can also set up goals in Google Analytics to measure to see what you are doing is working
  • Use Google Analytics to see what impact the time you are spending on your blog is having on your stats

Strategies

  • It can be difficult having fast results from blogging so keep a consistent pace
  • Start out with one post a week and invest in promoting the content you create
  • Just because you create the content doesn’t mean that people will come
  • To speed up the process in the beginning create your content and promote on social

Content

  • Get input from other people
  • Ask your readers via your email list what they want to read/ issues they want addressed
  • Write things that will meet your readers needs
  • Pay attention to the questions people ask on a regular basis whether it be in social media or on other platforms (use blog posts to answer those questions)

Unique Voice

  • In your blog posts be yourself and don’t try to be somebody else
  • People will either like you or not (if they don’t then they are not right for you)
  • If you try to be somebody else you’ll end up being a cheap imitation

Repurposing Content

  • If you aren’t repurposing content then you are missing out on reaching as many people as possible across platforms
  • It’s not about copying and pasting content and posting it in different places you have options such as the following:
  • Take snippets to create tweets or images with text 
  • Put related posts together with transitional information and make e-book
  • Take related content and create a podcast
  • Record an audio blog post
  • Take main points to create a Powerpoint presentation and upload to Slideshare
  • Add audio to Powerpoint, add animation and add to YouTube 

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!

Links to Resources Mentioned
 
Newsletter Guru TV
Professional Content Creation
Rebecca Livermore on Twitter
Rebecca Livermore on Facebook  

Click to Tweet

What are the best ways to repurpose blog content? Find out with #blogging and content creation expert @rlivermore www.getjimpalmer.com

Why should entrepreneurs & small business owners care about blogging?  Find out w/ @rlivermore on Stick Like Glue Radio www.getjimpalmer.com



Click Here To Share:
Video

Boost Your Revenue with Branding – Dr. Carri Drzyzga

In this week’s powerful episode from Chicago, I talk to Dr. Carri Drzyzga about transforming her practice with the right branding and the powerful positioning. Lots of nuggets in this episode, don’t miss it!



Click Here To Share:
Audio

The Art of Connection with Jordan Harbinger Harbinger

Stick Like Glue Radio #120 On this episode of Stick Like Glue Radio I interview connection and communication expert, Jordan Harbinger. This is a very powerful call – do not miss it!

Download MP3
Stick Like Glue Radio www.getjimpalmer.com

On this episode of Stick Like Glue Radio I interview connection and communication expert, Jordan Harbinger. This is a very powerful call – do not miss it!

Main Questions Asked

  • Talk about Situational confidence
  • How does body language affect confidence?
  • How does one go about gaining charisma?
  • What are some of the universal mistakes when trying to make a first impression?
  • What’s your advice for introverts?

Key Lessons Learned

  • Its not about becoming better at what you do from a skills perspective it has more to do with mindset, how you present yourself and how you interact with people
  • People ‘buy’ you and if you are not willing to work on yourself as a product then you are wasting your time are never going to succeed

Confidence and Charisma

  • People are drawn to others who appear confident
  • Some people will appear confident even though they may not be on the inside
  • When it comes to confidence, the mind follows the body and the body follows the mind
  • People who chance their physiology to look confident will start to be treated differently
  • Confidence becomes a habit so be sure to work on it until it does
  • Charisma is the ability to make other people feel good just by being around you
  • Developing charisma is possible. Start out by developing a habit of good confident physiology even when no one is looking 
  • ‘Being in your head’ is the opposite of presence
  • What’s going on outside is just a reflection of what is going on inside

Universal Mistakes & First Impressions

  • People don’t listen even though they have the best intent. This is because they are in their own head and not present
  • Most people think the first impression is made when they open their mouth but its actually when you become a blip on someone else’s radar (when they notice you.)
  • The best time to make a good first impression is when you walk in the room
  • The only way to make that first impression is with your non-verbal communication
  • Confidence is made up of proper non verbal physiology, non verbal communication, projecting a friendly vibe, and having good eye contact
  • Eye contact is important so other people see you having positive interactions and want to speak to you too!

Advice for Introverts

  • Introvert and shy are not the same thing
  • Stop thinking of yourself as an introvert
  • Labeling yourself as an introvert is basically rejecting yourself before giving other people a chance to do that
  • You have a choice to work on confidence as a skillset until you get good at it or are you going to lean on being an introvert forever
  • With practice you can become confident

Thank you for listening! If you enjoyed this podcast, please subscribe and leave a 5 star rating and review in iTunes!

Links to Resources Mentioned

The Art of Charm Podcast   
Jordan@theartofcharm.com
 

Click to Tweet

Want to know the secrets to the art of charm & charisma in business? Jordan Harbinger @TheArtofCharm has your answers www.getjimpalmer.com

What is the #1 universal mistake when making a first impression?  Jordan Harbinger @TheArtofCharm has the answer www.getjimpalmer.com



Click Here To Share:
Video

Touching is Encouraged!

In this week’s short but powerful episode I talk about one the fine art and importance of touching as a great way to build your business! Don’t miss it!



Click Here To Share: