Most people I know, including me from time to time, do not like failure. There can be lots of financial and psychological costs to failure. However, most successes in business and life are preceded by failure. Most times, lots of failure. Additionally, sometimes winning ideas come from losing. Here’s a great example: In 1985, Proforma…
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Ask the Accountant… Question: Is there anything I need to do if I have my bank and credit card data automatically downloaded into QuickBooks? Does all the information just get recorded? Answer: That sounds lovely, but it does not work that way, unfortunately. It is just a big dump of information into your QuickBooks, and…
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It’s not often we stop and think about what kinds of business lessons can be taught by Mother Nature. One of the most intriguing analogies for business growth and entrepreneurship, in my opinion, comes from the book “Grow Like a Lobster,” authored by Joshua Dick. Below are highlights from some of his key concepts –…
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Ask the Accountant… Question: When I enter my credit card charges or bank entries, I don’t always know where to put them in QuickBooks. Do I have to wait until I know before entering them? Answer: QuickBooks has an expense account that allows you to “park” an entry until you can figure out where it…
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If you’ve paid attention to the retail shelves lately, you’ll know that the number of SKUs is exploding. According to 2023 Grocery Industry Report, many producers have doubled their SKU counts over the past few years. Health and beauty markets have also seen SKUs increases to account for different shades, sizes, and finishes. Nearly every…
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We have all postponed starting a new program or activity at times in our life. Whether it’s personal goals or business goals, committing to start sometime in the future is much easier than starting right now. Instead of saying: “One day I will lose weight.” “One day I will start working out.” “One day I…
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Ask the Accountant… Question: I’ve heard about something called FinCEN. What is it? Answer: In 2021, Congress enacted the Corporate Transparency Act. As a result of this, beginning on Jan. 1, 2024, many companies in the U.S. are required to file a report with information about their beneficial owners (Beneficial Ownership Information). It is known…
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I have had the wonderful opportunity to personally get to know thousands of people in our industry. Truth is that most of them never became all they could be because of fear. Fear of making sales calls. Fear of learning new product lines. Fear of asking for referrals. Fear of introducing yourself at a networking…
Read MoreWhat creates the greatest opportunity for long-term success for a print industry company? Culture. Culture, as defined by Merriam-Webster, is “the beliefs, customs, arts . . . of a particular group” and “a way of thinking, behaving or working that exists in a place or organization.” It is the industry leader’s responsibility to set the…
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An Engine Room Has No Windows The engine room on a large cruise ship or yacht has no windows. If the captain commands, “full speed ahead,” the team in the engine room obeys, even if the ship is about to hit an iceberg. If the captain commands, “hard left rudder,” the team in the engine…
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