Making Billions the Simple Way

Warren Buffett is the person to follow not only if you are seeking intellectual ways to perform trade and stock pickings but in the practical way that he lives his life. No, he isn’t perfect, but there is a method to his madness. Despite the fact that he is a multi-billionaire with stakes in several companies from See’s Candy and Johnson & Johnson to the Coca-Cola Company he has a strategy that’s actually simple.

In The Warren Buffett Way by Robert G. Hagstrom, you will learn the characteristics behind the investments as displayed in Chapter Four: Common Stock Purchases: Nine Case Studies.  I have been a fan of Buffett for decades and have read several books about him, and each time I come away with something different about him. In this book, you will learn the various ways in how Buffett processes his investments, as well as learning about his principles and practices.

From his childhood to his mentoring relationships, everything that he has encountered has been instrumental in the choices that have made about his success as displayed in Chapter Two: The Education of Warren  Buffett. You will learn from this book that it takes practice to acquire not only the financial gain that Buffett is known for but the most important thing is to fully understand the industry in which you have an interest in investing in. Did you know that your knowledge of industry commodities will help you to obtain a more sound investment decision?

While everyone may not obtain the same financial gain as Buffett, it is always a great practice to understand the man behind this simple principle as shown in Chapter Six: The Psychology of Investing. As Buffett states “patience is the key.” As you will see in Chapter Eight: The World’s Greatest Investor, Buffet states it simply “How I got here is pretty simple in my case. It is not IQ; I’m sure that you will be glad to hear. The big thing is rationality…..”

In Buffett’s Tenets: Business, Management, Financial and Markets you will be taught the various aspects of the decision-making process. As an added feature watch the movie, Becoming Warren Buffet, where you will learn not only about the man and his billions. Also, you will learn about his wife, Susan, who died in 2004 but has left an indelible mark on who he is today.

B.E.S.T. Publishing (A Division of Jabez Enterprise Group (JEGroup)
bestpublishing@jabezenterprisegroup.com

IS IT A TAX REFORM OR TAX CUT?

In today’s climate, it is so difficult to understand what to do and who to trust. The Republicans say this and the Democrats want that but what does it all mean to us as small business owners? I will roll out some of the conversations that are circulating around not only during the discussions with the industry experts that I encountered during my Washington, D.C. trip but what others are saying including the media.

With the information that you will receive from this article, you will be able to make an educated decision as a business owner. To start off the conversation let’s consider what Donald Marron, Economic Policy Initiatives Institute Fellow & Director, Urban Institute stated during the Ensuring Tax Reform Promotes Small Business Success panel discussion, “Is It Spinach or Ice Cream?” Ice Cream is the soft sale in what we are hearing and seeing but in actuality, we are receiving and eating spinach. For most of us, spinach represents a food that we dislike, in this case, spinach displays what is truly going on.

So here we go pertaining to the proposed tax policy. The panel that Marron was a part of were full of financial, policy and tax industry experts, that provided us with a wealth of information. So the question really is, is it a tax reform or tax cut? The answers depend upon who you are asking.

Let’s look at a few tax issues that are being proposed and circulating:

• Doubling the standard deductions
• Tax credits for child dependent families, as well as, nondependent
• Reduction of corporate taxes
• New tax rate for pass-through taxes for small businesses

Here is how it rolls out according to the panelists:

The purpose of taxes is to provide the economic support that the Country needs to fund itself primarily for the well-being of the various social programs that our Country and its people need from transportation, Social Security and health care to education. Mark Mazur, Robert C. Pozen Director,  Urban-Brookings Tax Policy Center, indicates that while the tax system worked in the 50s and 60s, in its current state it isn’t. Due to the economic shift that we are and have been experiencing for decades, our system needs some massaging.

The last tax reform was allegedly in 1986. According to @RepTomEmmer “Last time we had major tax reform, I was rocking the flannel look most days. Safe to say we need tax reform now: GOP Tax Reform https://fairandsimple.gop/.”

As a part of the changes, the state and local tax deductions will be eliminated but the standard deductions will be doubled. While this may be great for some states the states that will be hardest hit will be California and New York. One of the panelists, CPA Anne Zimmerman, Zimmerman & Co CPAs, Inc. ran one of President Trump’s prior year taxes and indicated that according to the new proposed tax laws if passed, he and the upper echelon will subsequently be paying nothing in taxes and instead will be gaining by a windfall.

While Trump initially thought that he would be able to immediately get his proposed tax bill passed, he is now weighing his options and hopefully, he will begin to see the error of his ways. Any tax bill being proposed should be for the people especially for those that voted for him based upon his promise to Make America Great Again. Is this new tax proposal Spinach or the Ice Cream?

Research, read and digest all of the information that you can to find and determine for yourself if this proposed tax bill will either Make America Great Again or will instead cripple us and take us back to the Stone Ages. Here are some suggestions to consider including those of the panelists:

• Wage credit – Ryan Abraham, Business & International Senior Tax Counsel, U.S. Senate Finance Committee
• Lower loopholes for corporations
• Offer a proposal of solutions
• Talk about the specific issues while focusing on what is not working and massage what is working
• Remove our vs their conversations because taxes will affect us all either directly or indirectly when it comes to purchasing power. If people are being taxed too much they will not have the economic capital for purchases. This is what causes a recession/depression to occur.

As a small business owner you must continue to make your voice heard and to stay up to date on small business issues reach out to these organizations and your Senators now:

• WIPP
• Change.org
• Small Business Majority
• AFGE
• List of Senators

So is this a tax reform or tax cut? It all depends on who you ask. What are your thoughts?

I thank you and appreciate the opportunity that you have afforded me to represent you once again. I will continue the fight to assure that the voices, needs, and concerns for the small businesses are being heard. If you have a concern or issue that you would like for me to talk about on your behalf within the near future please feel free to contact me.

“Diversity and inclusion are not only for employees, it’s for business owners also.  Become a part of the conversation.” Vernita Naylor

Blessings and keep on dreaming…..

Vernita Naylor
Founder/Owner, Jabez Enterprise Group (JEGroup)
Small Business Ambassador Since 2001
services@jabezenterprisegroup.com
https://jabezenterprisegroup.com/

 

Correction: Join Me November 15 At the Silicon Valley Black Chamber of Commerce (SVBCC)

Come out and join Vernita Naylor, author, Get the Cheese, Avoid the Traps: An Interactive Guide to Government Contracting, supplier diversity buyers and successful suppliers on Saturday, November 15, 9-11am at 25 N. 14th Street, 4th Floor, San Jose, CA 95112 for the Silicon Valley Black Chamber of Commerce (SVBCC) Supplier Diversity Workshop.

Here about diversity and inclusion as it pertains to corporate and government entities, learn from other businesses about what does it take to become a successful supplier, how does the buyer see you as a supplier and ways to market to the government.  Also, Vernita will be personally available for book signing.

The event is FREE but Seating is LIMITED so must RSVP.  Tell a friend. Looking forward to seeing you there!

 

Face 4Ward Exercising Financial Literacy with Cash Flow Kung Fu

Being a business owner can be extremely difficult.  There are so many hats to wear on any given day.  Time management, multitasking, prioritizing and financial stability are at the top of the list. 

In being a business owner you must continually make wise decisions, your business and its success count on it.  Why not consider consulting with a professional that can help you with one of those difficult tasks?  Face 4Ward featured business is Cash Flow Kung Fu, a company that provides consulting services, webinars on financial literacy, business mentoring and coaching, business planning, financial modelling and free training videos for small business owners.

For large businesses Cash Flow Kung Fu has a sister company, In-Context Financing just for you.  Owner Siu Ling has an extensive background in finance as a former senior banker with various financial institutions from Citibank, and Westpac to GE Commercial.  She has been able to establish her expertise in the field by working with a vast array of clientele from vineyards, commercial and residential property development, clothing and textile manufacturing, abattoirs and funeral parlours to mining.

“Delivering results for clients requires good business acumen, strong financial and risk management skills. My clients regarded me as their “trusted banker” and many of the relationships have lasted long after I stopped being their banker” says Sui.  Despite hiring a bookkeeper or Certified Public Accountant (CPA) to manage or consult with on best practices and tips for your business it would be in your best interest to do your homework and:

• Understand business financing for yourself by knowing what is required in preparing business financial statements
• Learn how to keep your personal and business accounts separate
• Know your business and personal credit scores
• Determine what are the best financial options available to you
• Develop a sound relationship with a banker within a solid financial institution

If you are interested in finding out more about their services they can be reached at support@cashflowkungfu.com, visit  www.cashflowkungfu.com/blog, or www.incontextfinance.com they are available to help.  Want to be featured on Face 4Ward, stay up-to-date on government programs, events, business tips, have a great story or comments subscribe or contact us at services@jabezenterprisegroup.com or visit us at www.jabezenterprisegroup.com.

Face 4Ward: Countdown to your success

As the year is ending there are a lot of things to think about.  At this time we begin to reflect on the past year, thinking about where we are now and begin to prepare for the year ending. For the next three months people will be experiencing several emotions from happy, sad and frustrated to jovial.

After the New Year one thing that most people begin to think about is ‘tax time.’  Are you going to be better prepared than you were last year or will you be scrambling to get things in order?  An expert should be your first order of business to get tips, resources and best practices if you find yourself scrambling.

If you want to be better prepared with your taxes why not consider working with an expert.  Face 4Ward features Total Tax and Accounting that provides tax, accounting, payroll and financial services.  Owner, Audrey V. Kay is a Certified Public Accountant (CPA) with over 30 years experience in tax, finance, and accounting.

Audrey has an extensive background that tells you that she is extremely experienced in the field of finance.  Let’s take a look at her background:  10 years with the Internal Revenue Service (IRS) in Houston, Texas before moving to the Bay Area; 10 years with AT&T in the Corporate Tax and Finance Departments and 10 years with the San Francisco Redevelopment Agency as an Accountant and Property Management Supervisor.  With this type of work experience under her belt she fully understands both sides of the fence.

Her passion is to provide practical and sound tax and accounting methods for small to medium-sized businesses and non-profits organizations.   She provides comprehensive accounting services from tax returns to payroll, consulting and QuickBooks.  Contact Audrey at amkay@mac.com, 510-304-1304 or visit her at http://totaltaxnow.com/.

If you want to be featured on Face 4Ward, stay up-to-date on government programs, events, business tips, have a great story or comments subscribe or contact us at services@jabezenterprisegroup.com or visit us at www.jabezenterprisegroup.com

Veteran Join Corporation

Along the Pathway (Vernita Naylor – JEGroup)

A Veteran is disciplined, punctual, have strong work ethics, stable and exhibit a trade or skill that employers want and need.  Despite the high unemployment rate amongst Veterans several companies have stepped up to the plate to hire Veterans that are returning home.  These companies recognize the value Veterans brings to the table and are beginning to hire them throughout the U.S.

There are several corporations and governmental entities that have created a vested interest in helping our Veterans.  Let’s look at a few of them:

1. Wells Fargo offers Careers for Military Veterans and Veteran Support to help with housing, education and career efforts.  They have joined forces with numerous non-profit organizations and other businesses to help make Veterans whole.
2. Got Your 6 has partnered with several retailers including Macy’s; non-profit organizations including Goodwill and the American Red Cross;  entertainment and communications industries including NBC Universal and governmental entities including the Department of Housing and Urban Development (HUD) and Wells Fargo to provide support from the military to civilian life.  They focus on jobs, education, health, housing, leadership and family.
3.  Siemens has answered the call of President Obama to hire our Veterans.  They are taking the charge to hire Veterans with a manufacturing and engineering background.  Qualified Veterans throughout the U.S. will receive up to $17,000 at Siemens to receive Product Lifecycle Management (PLM) Software training.
4. GSA has exceeded their national goal for hiring Veterans by at least 35% within one Fiscal Year (FY).  GSA joined forces with several organizations that specifically service the needs of Veterans and by FY13-with two months remaining-they were not only able to meet but exceed their set military hiring goals.

There are several other partners out there with a passion to help our Veterans.  Our Veterans can use your help in taking the steps in the right direction.  If you have access to the resources necessary to help Veterans make the transition to civilian life do your part and help.

If you want to be featured on Face 4Ward, stay up-to-date on government programs, events, business tips, have a great story or comments subscribe or contact us at services@jabezenterprisegroup.com or visit us at www.jabezenterprisegroup.com.

Watch Siemens PLM and Still Hiring Veterans

Can you lend a hand?

Aaaaaahhhhhhhh

Popular movies such as:  ‘Apocalypse Now,’ ‘The Kingdom,’ ‘First Blood’ and ‘Jacob’s Ladder’ depicts the challenges and trauma that Soldiers are experiencing while in the military.  Whether the fighting is in Vietnam or in the Middle East every Soldier experiences the same things.  Regardless, they must be fully prepared to do combat.

During time of war they may not have adequate sleep, have a lack of nutritious food or experience an emotional downward spiral due to several factors including seeing their fellow Soldiers hurt, dying or dead.  Our Soldiers-both women and men-experience and sees a lot.  Whether it is while serving or once deployed they need your help.

The Government can only do so much to help these men and women.  You can do your part as well.  Please help in any way you can.  Helping our Veterans helps the family unit as well.

Take a look around you to see where you can help.  In lending a hand it can be either directly or indirectly.  They did their part to save and protect our Country; now it is your turn to do yours.  Thank you.

If you want to be featured on Face 4Ward, stay up-to-date on government programs, events, business tips, have a great story or comments subscribe or contact us at services@jabezenterprisegroup.com or visit us at www.jabezenterprisegroup.com.

Making better financial business choices

Square (Photo Courtesy: Square)

Timothy 1:6-10 NIV says “For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”  These words are true if you let money run your business decisions exclusively.  Some people rule money while others allow money to rule them.

Whatever your thoughts about money the decision every business owner must make are tough.  Every decision must be rational when it comes to financial choices.  With every business there are some tools that must be instrumental in those decisions from the type of accounting system and payment system to contracts to use.

1. Accounting Systems are pertinent for your business operations because it helps with a variety of financial needs from accounts receivables, accounts payable and taxes to payroll.  ADP is a great payroll and tax service provider and provides excellent customer service and newsletters that offers specials, payroll and tax tips.  If ADP seems to be too much for your budget try Intuit Quickbooks they offer small accounting software to help any type of business or non-profit organization.  They also offer a virtual backup data service.
2. Payment Systems are crucial for your business needs especially is you are a small business, working at a trade show or making a deal in an airport.  Do not allow yourself to miss out on business opportunities either due to the inability to be portable or being unable to accept credit or debit cards.  There are several merchant accounts available through your bank but they could be somewhat costly.  You can choose to be charged a much smaller user fee by using portable mobile devices such as Square, Intuit Go-Payment and PayPal to name a few.
3. Contracts are crucial for your business.  How you develop your contracts are just as important.  You should make sure that your contracts have the necessary legal jargon to cover yourself throughout the project.

Here are some clauses that should be incorporated into your contract: scope of work, deliverables, costs of services, terms and conditions, refund or no refund, confidentiality and arbitration provisions.  Additionally, it should be clear that you are an independent contractor.  If you are using subcontractors make sure that you have a contract in place with them as well outlining their services as an independent contractor.

Managing a project is important to the success of your business, however, how and what tools you use in the process are crucial as well.  You must be organized and manage your business operations as if you were a large entity.  Everything you do does count.

If you want to stay up-to-date on government programs, lending, events or other small business initiatives subscribe with us.  Have a great story, comments or want to be featured on Face 4Ward contact us at services@jabezenterprisegroup.com or visit us at www.jabezenterprisegroup.com.

Business owners need a sounding board

The Bay Area (Photo Courtesy: Vernita Naylor – JEGroup)

According to the Quarterly Wells Fargo-Gallup Small Business Index Survey  41% of the small-business owners stated that the likelihood of making capital investments within the next 12 months is based upon better sales,  more certainty about their operating environment and lower federal taxes.  Their investments would range from machinery and equipment to new computers to help them stay up-to-date with the latest in technology.  Business owners must make tough decisions at every turn.

In making wise decisions business owners need a sounding board for those defining moments. A business owner’s decisions are based upon several ingrained factors including:

• Experiences
• Personal perspective
• Self-assessment
• Interpersonal relationship structure from birth to maturity

Every facet of a business owner’s life affects their decision making.  Installing an advisory board or board of directors, despite the size of your business, is crucial for business success.  Recently, there was a speech made by President Obama geared towards raising taxes to helping the economy ”If you’ve got a business you didn’t build that.”

Now based upon your ingrained factors you can see this speech from several viewpoints.  You can talk to several persons and come away with various conclusions.  You did build your business but with the help and/or resources of others.  Despite your perspective at the end of the day you are still the primary decision maker.

Food for thought:  Remember making a right decision may not be the most popular decision.

If you want to stay up-to-date on government programs, lending, events, other small business initiatives or business highlights subscribe with us.  Have a great story or comments contact me at consult@jabezenterprisegroup.com or visit us at www.jabezenterprisegroup.com.

Moving beyond the glass ceiling

Academy Award Winner and Best Selling Author, Michael Moore has been well-known for his controversial books and documentaries from “Down Size This,”” Roger & Me” and “Fahrenheit 9/11” to “Capitalism: A Love Story.”  His works gives us an in your face account on the conditions of the world and the economy.  In “Capitalism: A Love Story” you are faced with the effects of corporate monopolies occurring with one merger and one country at a time.

American Express’ Global Corporate Payments division and Concur, the world’s leading provider of on-demand employee spend management services, recently announced the expansion of their global alliance and partnership with Japan.  “We’re committed to providing world-class support and solutions to our clients on a global basis,” said Jaromir Divilek, Senior Vice President, Global Corporate Payments, American Express. “In Japan and around the world, our partnership with Concur helps clients get the maximum impact out of their Corporate Card program, while also providing them with globally consistent and robust expense management capabilities.”

Corporate dominance is causing destruction to our economy due to a lack of competition.  In its current state there is no way that we can recover anytime soon unless there are some changes.  If businesses like American Express and Concur continue to partner up, opportunities for small, minority, veteran and women-owned businesses will begin to look like the Stone Ages.

Monopolies create capacity and development glass ceilings for those that are unable to compete on a level playing field.  The ceiling will not only make it difficult to penetrate but it will tap into the available resources of these businesses due to the various layers being created.  These businesses are struggling through each layer but to overcome the chasm they must maintain the essence of providing excellent customer service, continuing to produce a quality product or service, create solid relationships and build trust.

As during the times of the Great Depression, business owners of today have the ability to still make a difference, survive and make a profit with a lot of ingenuity and out of the box thinking.  Consumers are looking for better products and services with low cost solutions.  Small, minority, veteran and women-owned businesses still have a shot at hitting their targets in the market.

Trailblazing businesses throughout the centuries from HP, Ben and Jerry’s  and Johnson & Johnson to Southwest Airlines all had to overcome the same if not similar obstacles.  Despite the odds they were able to gain a foothold in the market and compete with larger, established companies and/or monopolies.  Their focus was primarily the people: socially and economically while still producing quality and building trust.

In being socially responsible and building and maintaing trust with their customers they have become a success story in their own right.  Despite what is happening in the mainstream if more start-ups and established small, minority, veteran and women-owned businesses begin and/or continue along the vein of these trailblazers capitalism “can” become a love story.

If you want to stay up-to-date on SBA programs, government lending, business events, other small business initiatives or business highlights subscribe with us.  Have a great story or comments contact me at consult@jabezenterprisegroup.com or visit us at www.jabezenterprisegroup.com