During lean times, people find opportunities to turn their hobby into a few extra bucks. Sometimes those opportunities explode into more possibilities than expected. It doesn’t take long before you ask yourself a reality-check question.
First, it was toilet paper, now people are hoarding ramen. At least with ramen, it makes some sense. If you are going to be locked up in your house, you need something to eat. Toilet paper made absolutely no sense to me, but that is the point.
Working from home was already building momentum before “social distancing” became a household buzzword. Now, some studies predict that 50% of employees from one-third of companies may continue working from home long after the pandemic ends. Many businesses are beginning to hire employees who already reside in other states, which comes with drawbacks and perks. Employers have more options than ever before when recruiting new talent. Yet welcoming more remote workers aboard doesn’t just mean more employees are now working in dress shirts and sweatpants. If only it could be that simple . It has implications for your taxes as well –– especially if some of your employees have relocated to other states either temporarily or permanently. Here are some factors to consider when navigating this uncharted territory.
Ask any entrepreneur if they want to grow, and with few exceptions, the answer will be YES! Ask them why they want to grow, and likely you will hear crickets. The why is critical, without it, you will fold when challenges arise. If you know the why, and you are passionate about it, you will figure out the how.
I recently wrote about determining why you want to grow your business. In this article, I want to go a little deeper into the idea of changing to grow. As I stated before, what brought you initial success in your business will not grow you to the next level. I have had it explained to me as, “What got you here, won’t get you there.”
Originally this post was going to be on the need for continued Personal Growth. It was going to be about how I choose to stretch myself by completing an Ironman Triathlon (half) and a marathon at age 50 in the same year. But a funny thing happened along the way.
According to Merriam and Webster, Ignorant and Ignore share a root Latin word which meant “to ignore, be ignorant of”. So the Latin word really included both definitions of our words Ignorant and Ignore. Why the etymological lesson? Let me tell you a story.
Have you ever played tennis by hitting a ball against the garage door? It’s not the worst way to practice. If you focus on the right parts of your technique you might actually get somewhere, but playing with a real, live partner who’s engaged in the game is going to take your skills to the next level. This is not too dissimilar from the accounting function in your small business.