You save money on expense by streamlining your processes. As we begin the second month of 2016, let’s take a look at your business process.
Let’s look at an example:

Quote: A quotation is generated in Microsoft Word and sent to the customer for the work to be done. Quote includes estimate on materials, shipping and scheduling.

Purchase Order: Once the customer agrees and signed the quote, a Purchase order is generated in Microsoft Works to the vender. This starts the Job Expense Sheet in Microsoft Excel. It includes specifics on materials, shipping and scheduling.

Vender Bill: Now the job is done, and the vendor bills you. Your company then has to run it through a Tax Worksheet (in Excel) to calculate sales tax, and Services. After doing the Tax Worksheet, they enter the amounts on the Job Expense Sheet.

Freight Costs: Make sure the freight costs are entered onto the Job Expense Sheet.
 
Invoice to Client: The invoice is prepared in QuickBooks from the Job Cost worksheet and Emailed to the client.

This maybe the process you have been using for years. Maybe it started simple enough, but then new steps needed to be added along the way. Let’s say this process takes about an hour per sale.
Streamline the process to use one program instead of 4. Sure, the initial set up may take some time, but the change in the long run saves you both time and money. If you notice, the sample company does use QuickBooks to do their invoicing. We can also assume they track their expenses in QuickBooks in order to be able to come up with financial statements.

After some training by a certified QuickBooks advisor, the company could use QuickBooks for:

1. Quoting the Client
2. Generating Purchase orders to venders,
3. Receiving the job from vendors, and paying that bill, set up the sales tax, adding freight cost,
4. Generating an invoice to the Client.

 
The company would enter the info into QuickBooks and the bookkeeper would check it and follow up on invoices. After a 3 hour (or so) QuickBooks Training and Set up, the whole process may only take about 15 minutes per sale, as opposed to the hour it previously took. Thus saving both time and money!

Improve your process and improve your business!

"By his own count, Kendall, 81, wrote a total of 740 columns for the two Daily Herald Media Group publications. His "On Small Business" columns focused on guiding small business owners and entrepreneurs through complex issues. He tapped into the expertise of suburban experts, many times sharing their personal stories of how they were able to overcome obstacles." Richard Klicki wrote in the Daily Herald today. Rich Klicki, a great business columnist in his own right, wrote a nice article in the Daily Herald today:

https://www.dailyherald.com/business/20200726/daily-herald-business-columnist-jim-kendall-dies?cid=search

I (Tom Gosche) enjoyed his articles through the years. He focused on interesting topics AND businesses in the Suburbs of Chicago. In 2017, Jim contacted me after getting my newsletter about questions you need to ask when buying a business. He later wrote an article featuring those questions and quoting me!
https://www.dailyherald.com/article/20171022/BUSINESS/171029971?cid=search 

He looked everywhere in the suburban business community for ideas.A week after 2015 Business Taxes were due, he reminded everyone to look forward to 2016 taxes. Below is an interview with our CPA Greg Galla in 2016 discussing Business Taxes:

https://www.dailyherald.com/article/20160320/BUSINESS/160329985?cid=search

As today's article states:

"He is survived by his wife Sharon, daughter Tracey, son-in-law Robert, and granddaughters Melinda and Gretchen. He was predeceased by his parents, Harry and Mary Kendall.
In lieu of flowers, memorial donations in Kendall's name may be made to the Bradley Fund, Bradley University, Peoria, IL, or to the Friends of the Wheaton Municipal Band, Wheaton, IL. Granddaughter Melinda is a member of that summer band."

Just over half way though the year, it is always a good time to check on how you are doing compared to your business plan. This year is a bit different then other years. Things happened beyond your control, but as things over up, grab your plan and make sure you are doing what you did earlier to become successful.
 
It is said doing the same thing over and over and expecting different results is the definition of insanity. Yet business owners continue to do business as usual year after year.

Business planning is very important to help change the status quo. Whether you are having a great 2020 or not, putting together a business plan is a big part of making those changes.

It starts with asking yourself some questions.

Where are you now? Actually writing it out what the situation you are in currently helps you to see and read the situation better. It is easy to keep the information in your head and know where you are however, once you write it, you can realize where you are. You can also share it, so you can get help from others.

Where are you 5 years from Now? Go crazy and dream big with this. When someone has trouble thinking about this, I ask them to imagine they are at a banquet in their honor 5 years from now and someone is introducing them as “Person of the Year.” What are they saying?

What are your strategic objectives? This is more specific then the above question. They can be financial or growth goals. It could also be specific strategies you want to have implemented in your business or life.

What are your Strengths? This is what you are currently good at doing well. Maybe you are good at getting appointments with prospects. It could be you are great with financial analysis. List them and write about them.

How can you build on those Strengths? We are already strong enough to overcome any obstacle by working on improving what is already strong. It is easier and more fun to become better at something you are already good at doing. If you wake up in the morning dreading what your weaknesses are and working on improving that, you tend to not work as hard. If you wake up in the morning and know you are already good at something and you just want to get better, you tend to do it with more enthusiasm.

This is just the beginning of can become a great workable business plan.

​In response to the Coronavirus (COVID-19) pandemic and its effect on small businesses, the Village of Schaumburg has created a small business grant program. The objective of this grant is to help businesses retain employees at pre-COVID-19 levels. The village is offering small business owners in Schaumburg a 50% match of operating expenses for two months (up to $10,000 total for each business) to help retain employees. The village has allocated $100,000 to this program, with funds available on a first come, first served basis.
 
Businesses must:

• Be located within the Village of Schaumburg
• Demonstrate that the COVID-19 outbreak caused a decrease in revenue
• Employ between 1-5 employees/contract employees (not including owner/s) in total across all locations
• Have less than $1.5 million in gross annual revenue
• Have been in operation for at least 1 year
• Have no outstanding tax liens or legal judgments
• Not receive, or have received, assistance through other programs intended for this purpose such as the SBA’s Economic Injury Disaster Loan program or PPP

Commit to maintaining pre-COVID-19 employment levels for a minimum of 6 months upon receipt of grant. If commitment is not met, grant must be repaid.

​The village is maintaining a webpage with links to several resources available through federal, state and trade organizations. New resources are being added regularly as they become available. Click on the link below to access the Village of Schaumburg Business Resource Page.

What is a "Typical Situation" people are in when they realize they need help? 

• They are growing and are unsure if they are legally complaint.
• Employees appear to be unhappy or have high turnover of staff and don't know what to do.
• They feel they have been "winging it" for too long and want to formalize processes.

What is something someone might say that would lead me to think of you? 

• “If I could do this without employees I would.”
• “I feel like I've lost control of what people are doing - one person wants one thing and the other something else. I don't know what to do.”
• “My employees need someone to talk to that isn't me. Why do people come to me with their issues.”

What (Specifically) do they do?
Uncomplicate the people side of business. Help business owners success through and with their employees.

How do they do it?
Sitting down with the business owners to understand their needs and concerns. Create an action plan in order to achieve goals. Provide on-site support as needed so we are the go-to person for the employees and the owner. 

Matching Ideas with Resources 

To ensure businesses can reopen safely, the state released a common set of standards expected of all employers, while also outlining industry-specific guidelines using a risk-based approach to support unique operational needs of businesses across the state. Industry guidance will help businesses and residents feel safe in returning to many of these new activities that have been closed for the past several months.

Phase 4 of the Restore Illinois plan creates safety guidelines for the following permitted activities and businesses to resume, with capacity rules in place:

• Meetings and events: Venues and meeting spaces can resume with the lesser of up to 50 people OR 50% of overall room capacity. Multiple groups are permitted given facilities have space to appropriately social distance and can limit interaction between groups. This includes activities such as conferences and weddings.
• Indoor and Outdoor recreation: Revised guidelines to allow select indoor recreation facilities (e.g., bowling alleys, skating rinks), as well as clubhouses to reopen. Indoor recreation to operate at lesser of 50 customers OR 50% of facility capacity with outdoor recreation allowing group sizes of up to 50, and permitting multiple groups given facilities have space to appropriately social distance and can limit interaction between groups; concessions permitted with restrictions.
• Indoor Dining: Indoor dining can reopen with groups of 10 or less, with tables spaced 6-feet apart in seated areas and with standing areas at no more than 25% of capacity.
• Museums: Can reopen with no more than 25% occupancy, and with interactive exhibits and rides closed; guided tours should be limited to 50 people or fewer per group; museums should have a plan to limit congregation via advance ticket sales and timed ticketing; concessions permitted with restrictions.
• Zoos: Can reopen with no more than 25% occupancy, and with interactive exhibits, indoor exhibits, and rides closed; guided tours should be limited to 50 people or fewer per group; zoos should have a plan to limit congregation via advance ticket sales and timed ticketing; concessions permitted with restrictions.
• Cinema and Theatre: Indoor seated theaters, cinemas, and performing arts centers to allow admission of the lesser of up to 50 guests OR 50% of overall theater or performance space capacity (applies to each screening room); outdoor capacity limited to 20% of overall theater or performance space capacity; concessions permitted with restrictions.
• Outdoor seated spectator events: Outdoor spectator sports can resume with no more than 20% of seating capacity; concessions permitted with restrictions.
  Film production: Allow no more than 50% of sound stage or filming location capacity; crowd scenes should be limited to 50 people or fewer.

Industries with revised guidelines in Phase 4:

• Youth and Recreational Sports: Revised guidelines allow competitive gameplay and tournaments; youth and recreational sports venues can operate at 50% of facility capacity, 20% seating capacity for spectators, and group sizes up to 50 with multiple groups permitted during practice and competitive games given venues have space to appropriately social distance and can limit interaction between groups; concessions permitted with restrictions.
• Health and fitness centers: Revised guidelines allow gyms to open at 50% capacity and allow group fitness classes of up to 50 people with new safety guidelines for indoors, with multiple groups permitted given facilities have space to appropriately social distance and can limit interaction between groups.
• Day camps: Water-based activities permitted in accordance with IDPH guidelines; no more than 50% of facility capacity with group size of no more than 15 participants in a group, unless participants changing weekly.

Additionally, retail, service counters, offices, personal care (including salons, barber, nail salons), manufacturing and other industries allowed to reopen in Phase 3 will continue to operate at a reduced capacity.

To help businesses prepare to reopen and remain in compliance with new guidelines over the next two weeks, DCEO has released a new set of downloadable materials. Business toolkits are complete with signage, training checklists and other resources to help business owners and workers implement safety procedures and adhere to the latest capacity restrictions. Materials for businesses and operators pertaining to Phases 3 and 4 of the Restore Plan, can be found at Illinois.gov/businessguidelines.

​The package includes more than $900 million across more than ten programs and four state agencies to help working families and small businesses who have been hit the hardest by COVID-19’s economic impact, which was compounded by recent property damage and civil unrest. Programs include:

• Emergency Rental Assistance
• Emergency Mortgage Assistance
• New Business Interruption Grants
• Distressed Capital
• Poverty Alleviation Strategies

 
SBA Recovery Programs
The SBA is once again offering the Economic Injury Disaster Loan program and the Paycheck Protection program.

• Economic Injury Disaster Loan Program - Provides an advance of up to $10,000 and is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid.

 

• Paycheck Protection Program - Provides loans designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

 
Other COVID-19 Resources

• COVID-19 Resource Page: https://www.villageofschaumburg.com/government/general-government/business-resources

 

• Phase III Re-opening Information: https://www.villageofschaumburg.com/government/general-government/phase-3-reopening-information-for-businesses

 

• Reduced Occupancy Calculator: https://schaumburgil.seamlessdocs.com/f/occloadcalc

​The IRS has published this flowchart to help determine if employee retention credits can be used by a company. 

​It also includes a table with some differences between the current credits available for COVID related leave.

Typical Situation: Our client’s systems that are currently in place do not keep track of inventory or improve operations. Our client has outdated technologies that complicate processes and prevent growth. They often lack standard business process and never certain of the best way to handle.  They may also struggle with too many manual processes, find it hard to complete upgrades, or have difficulty having their systems talk to each other.
 
When you hear a business owner say:

• “I need help in figuring out how to make software work for my company”
• “Our software is not meeting our needs”
• “Why is our staff always doing routine tasks in different ways?”
•  “We access our systems remotely.”
•  “We are thinking of getting a new system. Should we? Shouldn’t we?”

 
Technology Software Consultants help manufacturers and distributors implement application technology that makes their businesses run better.  They can help clients solve business problems by using systems that are currently in place or help them to find the appropriate software and vendors to improve operations. They will work with ERP systems, Warehouse Management systems, bar code scanning technology and other supply chain technologies.
 
How they Work Consultants utilize business analysis skills, sound project management methodology, and common sense to implement systems.  They will work with and manage vendors to control the project and ensure that projects are on time and on budget.  They also train employees to ensure that they understand what systems are supposed to do as well how to use new technology.

​Governor JB Pritzker released industry-specific guidelines that allow for the safe re-opening of businesses as the state progresses into the next phase of the Restore Illinois plan.

All four regions of the state are on track to advance to Phase 3 of the plan in the coming days, allowing thousands of residents to return to work, and the reopening of businesses in the following industries: retail, offices, manufacturing, barbershops and salons, summer programs, various outdoor recreation activities and bars and restaurants for outdoor dining.

Guidelines as well as toolkits for businesses can be found on the Illinois Department of Commerce and Economic Opportunity (DCEO) website, HERE. 

https://www2.illinois.gov/dceo/pages/restoreILP3.aspx