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Think Twice Before Posting a Negative Review

Posted By Tracelyn Sutton, American Cancer Society, Tuesday, July 4, 2017
The Impact of Negative Reviews
It is widely known that negative reviews can harm a business: but how many people realize the true extent of their actions on the company? With the greater accessibility of online platforms, many customers find it simple to vent their rage over a slight mishap at the restaurant in the form of a negative online review. However, little do they know that their heated words are the cause of a failing business and a perilous situation for many employees. 

A negative review can cripple a company in two significant ways:

•    Customers are warded off by the unappealing comments.
•    Business sales rapidly decline

According to recent statistics, 88% of customers are known to believe online reviews just as much as a personal recommendation – this illustrates exactly how important a review is to business. Moreover, 92% of customers tend to read online reviews, which is 4% more than in 2014. Therefore, your one negative star rating will be read by countless others who may very well reject the business, in favor of another. Is it worth creating so much loss for people over a five-minute delay in service? It is immoral not to consider other available options instead of instantly expressing our dissatisfaction in the worst possible way. 

For example, when you feel as if the service provided is not up to the mark, how about requesting to speak to the manager – take for instance the head chef in a restaurant – and express your queries on the spot. A confrontation helps resolve the problem much quicker and far more cleanly than an online review: the necessary steps are undertaken instantly. Another viable option is to call the manager and book a private appointment with him/her to discuss the problem. You may even be given a gift coupon or a refund as compensation.  

We’ve been taught in life to give everyone a second chance – so why not give the company the benefit of the doubt? Maybe a new employee came in and jumbled up your order; maybe they were just having an off day. If the deed was not that significant then consider going one last time again: who knows, your new experience may be radically different from your previous one. This method is much fairer than ruining business for one botched event.

Negative reviews are not the only option to express our dissatisfaction with a company. Keeping in mind the seriousness of a negative online review, how harshly it can impact a business and the much friendlier options available to a client instead, we should carefully consider our actions before inflicting undue harm upon others. 
 

Tags:  business  customer service  negative  reviews 

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What You Need to Know About Overtime!

Posted By Kenyatta Turner, LegalShield Independent Associate, Monday, June 26, 2017
WHAT YOU NEED TO KNOW ABOUT OVERTIME

 

If your employees work more than 40 hours per 7-day workweek they may be entitled to overtime pay. New overtime rules were set to take effect late in 2016. These regulations would have expanded the number of employees eligible to receive overtime pay but they are currently tied up in federal court. It is vital that you observe the current regulations to avoid potential fines or litigation. If you have questions about state or federal overtime rules, contact your LegalShield provider law firm.

  • Current Rules - Federal overtime regulations are part of the Fair Labor Standards Act (FLSA). The FLSA entitles employees working more than 40 hours in a workweek to one and one-half times their regular pay rate. If your business has, “an annual gross volume of sales made or business done of $500,000 or more” you are required to pay overtime. All schools, hospitals, medical facilities and public agencies are required to pay overtime. Click here to determine whether FLSA applies to your business.
     
  • State Regulations - Many states set additional rules for overtime pay. California, for example, requires overtime for those who work more than 8 hours in a day and double pay for those who work more than 12 hours in a day. Other states set specific thresholds for businesses that must comply with overtime rules. Arkansas requires employers with more than 4 employees to pay overtime. Click here to view a map highlighting current state overtime laws. It is important to understand both the federal and states regulations where you do business.
     
  • Exempt Employees – There are exemptions for some executive, administrative, computer professionals and other professional service employees.

From the Department of Labor:

A. Currently, to qualify for exemption, a white-collar employee generally must:

  1. be salaried, meaning that they are paid a predetermined and fixed salary that is not subject to reduction because of variations in the quality or quantity of work performed (the "salary basis test");
  2. be paid at least a specific salary threshold, which is $455 per week (the equivalent of $23,660 annually for a full-year employee) in existing regulations (the "salary level test"); and
  3. primarily perform executive, administrative, or professional duties, as provided in the Department's regulations (the "duties test").

Certain employees are not subject to either the salary basis or salary level tests (for example, doctors, teachers, and lawyers).

  • New Rules from 2016 – Overtime exemption thresholds were set to nearly double in December of 2016; however, the new rule is currently tied up in court. There is a great deal of speculation about the fate of the new rule with many expecting a change in direction from the new administration. The U.S. House of Representatives recently passed a bill that would allow certain employers to offer comp time instead of overtime pay. The bill still must pass the Senate but it is yet another sign that changes are coming. It is important for all businesses to follow these changes carefully.  If you have any questions, contact your LegalShield provider law firm or Kenyatta Turner at 602-367-1069 or kenyattaturner@legalshieldassociate.com.

Tags:  Accounting  business owners  business resources  business risk  business services  employees  Employers  Hiring  HR  human resources  labor  legal  legal services  management  small biz  small business  small business owner  startup  tax  wage hour lawsuits  women-owned business 

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New LegalShield Law Index Brings Leading Indicators Of Actionable, Hard Data To Reveal Economic Trends

Posted By Kenyatta Turner, LegalShield Independent Associate, Tuesday, June 20, 2017

Monthly Index Covers Over 70% of the GDP to Predict Economic Health

 

ADA, Okla.June 8, 2017 /PRNewswire/ -- For the first time, the LegalShield Law Index—launched today—provides a forward-looking snapshot of the economic and financial status of U.S. households and small businesses. The Index is made up of five indices, including the LegalShield Consumer Financial Stress Index, LegalShield Housing Activity Index, LegalShield Bankruptcy Index, LegalShield Foreclosure Index, and the LegalShield Real Estate Index. Each index relies on LegalShield's unique and proprietary database of actual member demand for and usage of legal services to predict the health of the U.S. economy.

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8115751-legalshield-law-indices-predictive-economic-trends

 "The LegalShield Law Index is generated from actual consumer and business demand for various legal services provided by our closed panel of dedicated law firms covering all 50 states," said James Rosseau, LegalShield's Chief Commercial Officer. "Each index is a leading economic indicator and is released in a more timely manner than traditional economic indices. Our index predicts economic activity that represent more than 70 percent of the Gross Domestic Product of the United States. The LegalShield Law Index provides actionable intelligence about the direction of the U.S. economy in the mid- to near-term," continued Rosseau.

The key predictive takeaways from the first public release of data, through May 2017, are as follows:

  • Consumer confidence may continue to ease in the months ahead, but will likely remain strong by historical standards.
  • Housing starts, which have risen at a stubbornly slow pace since 2012 and remain well below pre-recession levels, should continue to improve slowly in the months ahead.
  • Bankruptcy filings should remain subdued in the near term. However, elevated levels of household debt are worth keeping an eye on, as they could lead to upward pressure on bankruptcy filings in the future.
  • Foreclosures should remain subdued in the short term, but may begin to rise in the second half of the year.
  • Existing home sales should continue to improve slowly in the months ahead.

The LegalShield Law Index is made up of five indices that are generated from LegalShield's proprietary data, which tracks the demand for different types of legal services for the various areas of law over the past 15-plus years. Each time a LegalShield partner law firm receives a request from a LegalShield member, the request is logged as an "intake" within one of roughly 70 unique areas of law (e.g., real estate, criminal, bankruptcy), depending on the nature of the legal need.

"We are excited to share our forward-looking data about the U.S. economy, based on the actual legal needs of our members and the work of our provider law firms—data that covers more than one-and-a-half decades of activity. When our members contact their LegalShield provider law firm, we record the area of law," explained Rosseau. "In aggregate, our index foreshadows economic activity based on actual legal events in the lives of individuals, families and small businesses."

The flagship LegalShield Consumer Financial Stress Index tends to lead the Conference Board's Consumer Confidence Index by one to three months. LegalShield's May data suggest that the recent run-up in consumer confidence may have overshot economic realities, and that consumer confidence levels may consequently pull back in the months ahead.

"While there are reasons to be optimistic about the U.S. economy, since December there has been a divergence of 'soft data' based on consumer and business confidence surveys, and 'hard data' based on actual market events, such as demand for legal services," Jeff Bell, LegalShield CEO, said. "Historically, when the LegalShield Consumer Financial Stress Index drifts away from the Consumer Confidence Index, it is typically consumer confidence that falls back into line with our index, not the other way around. We saw this in 2006 and 2007, when our index provided an early warning signal of the drop-off in confidence at the outset of the Great Recession."

LegalShield will be releasing the Index monthly, on the sixth business day of each month. Today the company is releasing May data, along with an assessment of what the data suggest about the health and direction of the U.S. economy. For access to the economic assessment, please visit https://www.multivu.com/players/English/8115751-legalshield-law-indices-predictive-economic-trends/.

The five separate measures that comprise the LegalShield Law Index together provide a leading indicator of the economic and financial status of American households and small businesses. The indices closely track a handful of key economic indicators, such as the Consumer Confidence Index (developed by the Conference Board), Housing Starts (reported by the U.S. Census Bureau), and Foreclosure Starts (reported by the Mortgage Bankers Association). Each LegalShield index has undergone a battery of statistical tests overseen by a PhD economist to validate its relationship to an existing economic indicator that sheds light on the health and direction of the U.S. economy.

LegalShield's suite of law indices provides actionable intelligence about the direction of the U.S. economy in the near term. Each index is based on data collected through LegalShield's provider law firms across all 50 states, thereby offering insights that are not accessible to the general public.

The Index is based on data collected on a near real-time basis, and will be refreshed and released monthly along with forecast statements on each index. The Index is based on intakes among more than 1.6 million memberships (including individuals and small businesses), providing a window into the legal needs of families and businesses across the country at any given point in time.

About LegalShield 
LegalShield is one of the North America's leading providers of legal safeguards for individuals, families and small businesses. The company also offers one of the industry's most affordable and comprehensive identity theft plans, IDShield. LegalShield plans provide protection to more than 4.2 million individuals, and IDShield provides identity monitoring and restoration services to more than one million individuals across North America. In addition, LegalShield and IDShield serve more than 141,000 businesses.

For as little as $20 per month, LegalShield members get access to attorneys with an average of 19 years of experience in areas such as family matters, estate planning, financial and business issues, consumer protection, tax, real estate, benefits disputes and auto/driving issues. Unlike other legal plans or do-it-yourself websites, LegalShield has dedicated law firms in 50 states and four provinces in Canada that members can call for help without having to worry about high hourly rates.

For more information, visit http://www.LegalShield.com/hub/KenyattaTurner or contact Kenyatta Turner, LegalShield Independent Associate, 602-367-1069

Tags:  business  business decision-making  business development  Business growth  business plan  business resources  business services  business worries  economic development  economy  finance  ID Theft  Identity Fraud  Legal  legal services  real estate  setting goals  small business  small business marketing  small business strategy  women owned small business  women-owned business 

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3 Reasons Your Small Business is Failing

Posted By Kim England, Fast Inc. Network, Wednesday, June 14, 2017

There is no time like when an idea, opportunity, passion, and resources all unite at once in the formation of a new business. The passion drives you to spend endless amounts of time chasing after your goals. You feel like you have these wonderful ideas that are finally taking shape. So what exactly was it that drained the life from your small business?

Isolation. Self doubt. Invisibility.

1. Isolation:

You have spent so much time under the surface level of these goals that you no longer remember the resources you have above water. This is how isolation works. A talented business owner is cast away into a creativity-killing abyss.  We seem to have this insane notion that successful people are completely independent.  This idea could not be further from the truth. Isolation avoidance is an integral part of a successful business. If you want to achieve your goals you need to rub elbows with those who know how it is done. Ideas take flight when exposed to the minds of entrepreneurs who know what they are talking about. We all want success. Why not help each other get there?

2. Self Doubt:

Ever wonder why great athletes talk so highly (dare I say, arrogantly?) of themselves? They know that to ACTUALLY be the best, they have to believe they ARE the best. This same concept works in the business world. When the newness of a small business fades, business owners can be left with a feeling of doubt and anxiety for the future of the company. This just might be the most dangerous position for a small business. You have to KNOW that you are a great business owner, that your ideas are good, and that you have what it takes to lead your business to success.

3. Invisibility:

Think you can lead a successful business without a strong social media presence?

THINK AGAIN.

We live in a media driven culture. People ask Facebook which dentist they should go to, how many eggs go in that highly-talked about recipe, and who to do business with. This reliance on social media opens a world of free advertising for small business owners, but you have to know how to work it. Which hashtags attract your target audience on Instagram and Twitter? What time of day do most people engage with others on social media? These are the types of questions you should be asking yourself. Make 2017 the year of your small business’ social media revival.  Isolation, Self-doubt, and Invisibility can be difficult obstacles to tackle on your own.

Take the first step out of isolation and sign up today for our Fast Inc. Network Founder’s Circle, September 22 & 23! For more information visit www.fastincnetwork.com

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Tags:  arizona small business  ASBA  business  business owner  entrepreneur  small biz  small business 

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Shaking Hands May Be Rocket Science

Posted By Tracelyn Sutton, American Cancer Society, Saturday, May 27, 2017

Whether it’s through the firm shake of a hand or a long and proper salaam, there are plenty of ways to show respect and honor others. From the nerve-wracking interview room to a huge family get-together, the importance of showing respect is profound. For instance, let’s consider the simple gesture of standing up and firmly shaking hands with someone – why is the gesture significant?

For centuries the formal handshake has been used as a means to greet people with openness and friendship. Back then, a handshake was just as binding as a formal contract and be it business deals, marriages or peace declarations; a firm handshake was necessary everywhere. Nowadays the greeting is more important than ever. Take, for example, the words of a Future 500 CEO: when presented with two equally qualified and proficient job candidates, he picked the person with the better handshake.

From this simple gesture, people make decisions about our character and personality all the time!

Despite the countless benefits of such a small action, in our rapidly advancing age, few make the effort of adopting such courtesies. Busy with their social image, the youngsters of our generation do not even realize that texting a friend when their boss enters the room is a sign of immense disrespect and may very well make them lose the favor of their employer. A person who does not extend this courtesy is labeled as rude, unfriendly and unsuited for a task.

We’ve discussed the significance and the impact of this timeless greeting, and one question remains… how do we give the perfect handshake? Below are tips on the proper handshake etiquette in ten countries around the world:

1. United States: Introduce yourself with your name while giving a firm handshake, of usually two pumps.

2. Russia: Men usually kiss a woman’s hand; shaking hands with the opposite sex is only appropriate in a business situation.

3. China: Age is of great importance’ remember to greet the oldest person first and grip lightly with a slight bow. No direct eye contact is made.

4. Brazil: Firm, long lasting handshake that lasts long. Repeat when leaving.

5. United Kingdom: Light handshake. It’s inappropriate to stand or speak to close to the person after the gesture.

6. France: A quick, light handshake.

7. Turkey: Handshakes are long. Gripping firmly is considered rude in Turkey.

8. Morocco: Shake hands gently and only if you’re the same gender.

9. Norway: It’s important to shake hands with everyone present! Each person should be called by their first and last name during the gesture.

10. Thailand: Do not shake hands. In Thailand, the custom is to place both hands at chest level and bow. Repeat the gesture when a person does it to you.

Irrespective of style, handshakes share the same united purpose – to respect their receivers and show them that they are valued and admired. With this simple gesture, a person can win over hearts all around the globe

 

Adrienne teaches business etiquette, dining skills, networking and customer service skills.

Contact Adrienne at 407-744-5355   Visit www.professionalglobaletiquette.com

 
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Tags:  business  etiquette  handshaking 

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Why Positivity Matters

Posted By Kim England, Fast Inc. Network, Thursday, May 25, 2017

 

3 Tips for Staying Positive as an Entrepreneur

You know those people that always seem SO happy? I am talking always peppy, always smiling, and always nice. If that is not your typical demeanor, you have probably found yourself wondering how they keep it up. Surely not everything is always going well for them, and we all know that bad times are inevitable. It is easy to tell others how helpful it is to be positive when everything is going well. Why wouldn’t it be easy to be positive when you are in a position of success? You are achieving your goals, so you can easily be positive about at least that. However, we know that you are not always going to be in a place where you can see the growth that is occurring.

So how can you stay positive during those times that feel more like a valley than a mountaintop? Let’s explore some practical ways to practice positivity in your everyday life.

  1. Don’t let the little things slide by. When we fail to see the little things that are going our way, we can quickly fall into a state of negativity. Especially as an entrepreneur, those little tasks that you complete throughout the day snowball into significant, life-changing advances in your career. If you find yourself bored by the monotony of your daily agenda, do something to change it up that excites you. Not everything is going to be sunshine and roses. Nobody expects that. You do have the ability, however, to find the greater meaning and potential in the little things.
  2. Disassociate with negativity. Once you have reached adulthood, you don’t really hear anything about the power of peer pressure, but do not be fooled by thinking it no longer exists. Simply by nature, we tend to take on the characteristics of those we choose to associate with. This also applies to business. If the people you network with do not maintain the level of positivity that you need to thrive, it may be time to find new connections. Find business role models to look up to that produce an atmosphere of good energy and respect for others. Not only will this immediately raise your game, but it will also help you to model that same type of energy in your company.
  3. Gain the knowledge you need to succeed. Speaking of raising your game, there is nothing that will boost you up as an entrepreneur like accessing resources that provide you with applicable information for your company. Finding the right business coach to lead you in the right direction can certainly keep you from falling into a place of negativity. By having someone there to keep you focused or redirect your focus to a new area, you can train yourself to be more positive about your business. Another great way to increase your knowledge is by attending events that connect you with successful people. Fast Inc. Network’s Business Accelerators can provide you with instant connections with some of the most successful and positive entrepreneurs.

Sign Up Today for the Fast Inc. Network Business Accelerator this June 7-9 in Phoenix, Arizonawww.fastincnetwork.com/june2017

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Tags:  arizona  ASBA  business  business owner  business owners  entrepreneur  small biz  small business  success 

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When and How to Diversify

Posted By Kim England, Fast Inc. Network, Tuesday, May 23, 2017

 

How to progress in order to thrive.

Success as an entrepreneur often depends on the ability to come up with the next great idea. In a world that is constantly changing whether it be with technology, how we engage one another socially or the trend of economic growth, we have to be able to find ways to stay relevant and at the top of our game. There is just one little issue. This goes against our natural desire to remain in a place of comfort where we feel like we are the expert in our niche. We all know that we need to do what it takes to not go stale in an evolving market, so let’s explore some companies who did what is required to reinvent themselves.

One of the integral talents of a good business owner is the ability to critically evaluate their societal climate with a keen eye. The well-known computer company IBM was able to successfully do this when they saw their competition coming in the computer-making industry. They were pioneers when it came to making PCs, but they knew their competition was rising and they needed to diversify. By expanding their services, they were able to not only stay relevant, but thrive in a new niche. Another company, Nintendo, was also able to do something similar when they saw the need to evolve to match the trends in technology. They could have felt comfortable in their playing card industry, but they knew that to stay a leading force, they would have to up their game. Well, their work was not in vain; you probably have heard of them before now.

Remember the good ole day when you had a pen pal to write letters to? Maybe, maybe not. You probably have not written a letter to anyone lately, but you probably have texted or emailed a coworker within the last few hours. Just like our technology, our norms for communicating with one another change. The way we notify the press, the way we form relationships with colleagues, and the way we communicate with our customers is constantly evolving. We tend to rely on technology-based forms of communication more and more to run our businesses, and that is ok. Don’t associate progression with negativity when it comes to your business. If your clientele communicates with Instagram, make your presence known on that platform. If your customers prefer the ease of using GroupMe as opposed to forwarding an email, you need to acclimate yourself. Be sure that your business does not stagnate due to your inability to progress.

Along with technology and communication, you have to evaluate the economic trends within your field. For example, if your business deals with high-risk markets, you have to find ways to diversify to survive. The rural areas of the state of Oklahoma know this very well. When the oil business is good, the state economy thrives, however when the price of oil drops, people lose jobs and entire towns feel the consequences. Even the companies that indirectly work in this field have to diversity to ensure their survival. Your grandmother may have told you not to “put all your eggs in one basket.” Well, grandma was right, you simply must diversify to survive in a changing environment.

You can learn strategies to diversify your business and so much more this June 7-9 in Phoenix, Arizona at our Business Accelerator. Sign up today!  www.fastincnetwork.com/june2017

 

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Customers Driving you Crazy - 7 Tough Situations

Posted By Tracelyn Sutton, American Cancer Society, Tuesday, May 16, 2017

 

Turning Difficult Customers Around

Over time, you and your coworkers have probably developed some effective ways of dealing with challenges that come up in dealing with difficult customers. Sharing those ideas can benefit everyone.

The seven situations of difficult customers (and suggested ways of dealing with them) are:

  1. You don’t know the answer to a customer’s question (Tell the customer that you don’t know the answer, but you will find out)

  2. You have to say no to a customer’s request (Explain why you have to say no; offer alternatives)

  3. Your computer is working slowly and the customer is getting impatient (Tell the customer your computer is working slowly; keep the customer informed about what’s happening)

  4. The customer makes an unrealistic request (Explain what alternatives you can offer)

  5. The customers doesn’t seem to believe you (Offer to show proof or backup information)

  6. The customer is angry (Stay calm; acknowledge the customer’s feelings)

  7. The customer doesn’t want to give you the information you need (Explain why you need the information)

Although the saying goes that the customer is always right, there can often be a lot of space between knowing that the customer is “right” and accepting that they have a point. It can often be extremely frustrating dealing with certain customers, especially those who show limited understanding of your situation. Sometimes, due to the limitations of your job, a customer will present you with a request that you simply cannot deliver on. They may well become insistent on the subject, and in some situations customers have been known to become abusive. Dealing with this as a customer service provider can be difficult, but it is one of those challenges that makes you or breaks you in the role.

Sometimes customers are of the belief that a customer service provider is all-powerful. The belief seems to come from the fact that, as an employee of the company, you will have some access to the inner workings of the company. Frequently the extent of a complaint will be that “this doesn’t work and I want a new one/this one to be fixed/my money back”. Their displeasure will be clear, and may even shade into anger. Trying to defuse a situation like that is always a challenge, and requires a great deal of patience. It is not impossible, however – and emerging triumphant from such a situation can be a very big milestone.

The important thing to keep in mind when dealing with a customer complaint is that losing your patience with the customer will never lead to a satisfactory conclusion – for you and most likely for them. Although it may seem galling, and rather challenging, you will need to keep a firm hold of your temper and address their complaint to the best of your knowledge and ability. Tell them that you can see their problem and you will do everything you can to make sure it is corrected. Explain to them what you are going to do, and gain their assent for everything before you do it. If there is no way you can help them, do not chase a lost cause. Explain that you cannot help them, explain why, and offer apologies and a word of advice about where they can get help. This can lead to a positive resolution – but if it does not, at least you will have done what you can.

Adrienne is available with a custom Customer Service package that will fit your employee and client needs.  Adrienne is available at 407-744-5355 or by email at adrienne@professionalglobaletiquette.com

Adrienne offers a 20 minute pep rally for employees or a 2 hour workshop with role playing and discussion of best customer service practices.  

 

Tags:  business development  business etiquette  customer service 

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The Hot Dog Stand

Posted By George (Clint) Frederick CPA PLLC, George Frederick CPA PLLC, Friday, May 12, 2017

 

Proposed ‘Hot Dog Stand’ Regulations for Spinoffs

Browsing through the April 2017 issue of The Tax Advisor, published by the American Institute of Certified Public Accountants, Tax Division,  IRS ‘Proposed’ regulations that would impact a closely owned company caught my eye.  Two reasons: first because of the terminology, ‘Hot Dog Stand’, and second because I previously advocated a spinoff to a client.   (Reference Sec. 1.355-3, Sec. 355 (b) and Sec. 1.355-2(d).  The treasury Department in conjunction with the IRS issued proposed regulations REG-134016-15. 

By illustration assume shareholders have two active trade businesses, Company A, and the other Company B, a ‘Hot Dog Stand’ with value of $20,000,(must be a New York hot dog stand) and non-business assets (i.e. vacant land, cash, marketable securities) of two million.  The current regulations allow tax free spin-off to Company A. (Assuming certain other conditions do not deny the transaction.)  The proposed regulations would not allow the tax-free spinoff. 

The prospective date of the new regulations is generally after the date they are published.  But they would not apply to spinoffs that were in process, or had a binding agreement in place. 

If you have multiple corporations where a spin-off might be beneficial I suggest at least have a plan and a binding agreement in place. 

 

 

 

 

Tags:  finance  small business  tax 

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Why I Consider Daymond John My Personal Mentor…Though We Haven't Even Met

Posted By Kim England, Fast Inc. Network, Monday, May 8, 2017

Published by Carrie Luxem

Most of us have at least one person who we look up to and strive to be more like. Sometimes this connection is sparked because of shared, similar backgrounds or because we admire how someone has catapulted themselves through adversity to realize their personal or professional dreams.

My own list of mentors runs the gamut. From the deep admiration for my brother for overcoming addiction to the super-fangirling of Pitbull for his business acumen and educational endeavors, it's time to add another one to the list.

Daymond John. Business mogul extraordinaire, Shark Tank panelist, and branding genius. His story has had a deep and lasting impact on how I view myself, my business, and the world…and we haven't even met. Yet (more on that later).

His Early Age Entrepreneurialism

Daymond began cultivating his entrepreneurial spirit well before many of his peers. Starting in first grade with his custom pencil business and eventually shifting to handing out flyers and waiting tables before hitting it big with FUBU, Daymond seemed to innately comprehend the level of hustle and go-gettedness required for success

Looking back, his history shows us that it's okay to try different things — with various levels of success and failure — until we find exactly what suits our talents, skills, and interests.

Where we connect: Growing up, I always had business on the mind, launching multiple companies starting in elementary school. From cleaning windows for local restaurants to designing balloon arches for Home Depot to coordinating job fair events, I pushed until my true niche was found with Restaurant HR Group.

His Dedication to Struggling Entrepreneurs

Throughout his time on Shark Tank, Daymond has interacted with hundreds (if not, thousands) of entrepreneurs. And while not every entrepreneur has received an offer or a deal, Daymond frequently shares at least a tidbit of fundamental advice with the departing business owner. Whether that is a quick suggestion to redesign the packaging or the encouragement to come back again in a year because the idea is too premature, these simple words of wisdom can be enough to breathe life back into the struggling entrepreneur.

And he doesn't stop there. Between his books and keynote note speaker appearances, Daymond continually shares his decades of knowledge with others, breaking it down into applicable steps for entrepreneurs around the world to follow.

Where we connect: While I'm certainly not to his level of influence or knowledge (yet!), I do regularly share advice with other business owners through my role at Restaurant HR Group. Between face-to-face meetings, trainings and seminars, and publishing content online, lifting up other entrepreneurs has become a daily, rewarding venture.

His Ability to Overcome Adversity  

Growing up in a single parent household following his parents' divorce at age 10, Daymond took on additional responsibility at a young age. Instead of letting that muddy and narrow his view of the world, he used it as initiative to explore his options and opportunities and dream big instead. And eventually, FUBU and a string of other successful endeavors came to fruition.

Diagnosed with the vague term "learning disability" early on in his education, Daymond struggled with reading and writing but found math to be a breeze. While he wasn't officially diagnosed with dyslexia until adulthood, he found a workaround to his troubles by enrolling in a business co-op program which alternated his studies between classroom time and the First Boston investment bank in Manhattan. This view of real world business at play only further solidified his passion for business.

Where we connect: My parents divorced when I was 10 years old as well. Despite the turmoil created during that time, I chose to stay focused on my eclectic mix of business dealings. Business, like life, is pretty much never smooth sailing. Overcoming those obstacles and finding ways to turn them into treasure is where it's at. Thank you, Daymond, for that invaluable lesson.

His Branding Genius

Have I mentioned that Daymond is an absolute branding genius?!? After successfully launching FUBU by identifying an untouched market in the highly competitive fashion industry, he learned early on that you have to narrowly define your market and identify their top needs and wants. Daymond's other branding advice centers around commonsense practices, such as keeping the message simple, always controlling your brand's image, and making transparency a top priority. 

Where we connect: While I can't claim to have gone from zero to $300+ million like Daymond, I have managed to build a multimillion dollar company from the ground up…and I have only just begun! Daymond's experience represents my ultimate stretch goal and pushes me to better define my business and target market each day.  

Meeting Your Mentors

If you had the opportunity to meet one of your celebrity mentors face-to-face, would you go for it?

Well, if I can sort out some scheduling conflicts, then I just may be able to say yes to that question! Recently, I found out about an incredible event that's happening from June 7-9 in Phoenix, Arizona. Fast Inc. Network is hosting an Accelerate Your Business conference (click on the link below to learn more about this event!) and is offering exclusive VIP access to Daymond John, complete with a meet and greet! Plus, there are master classes to attend, hours of small group learning sessions, and the ability to network with other likeminded entrepreneurs.

If you're as inspired by the work of Daymond John as I am, you can check out all of the details and register for this incredible event here >> https://bg322.isrefer.com/go/event/Carrie/.   

Follow me on Facebook, LinkedIn, Twitter, and Instagram for more HR and leadership insights. Or check out my new website, carrieluxem.com, to learn more about my vision to impact the restaurant industry.

Who else considers Daymond John a mentor? What specifically do you admire about him?

 

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Tags:  arizona  ASBA  business  business owner  business services  entrepreneur  small business 

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