Why Strategic Alliances Might Be Your Best Growth Move Yet

In today’s fast-paced world, you don’t have to build your business alone. In fact, some of the most successful businesses grow faster and more efficiently by forming the right partnerships. Strategic alliances can open the door to new customers, untapped markets, fresh ideas, and additional revenue.
Here’s how to make partnerships work for your business:

1. Find Complementary Businesses
Look for businesses that serve the same target audience but aren’t your direct competitors.
For example, a realtor may benefit from partnering with a mortgage broker, or a business consultant might team up with a marketing agency.

2. Start with Shared Value
The foundation of any great partnership is mutual benefit. Ask yourself: What value can we offer each other? What can we create together that benefits both parties?

3. Build Co-Branded Experiences
Joint workshops, events, webinars, or collaborative content projects allow both businesses to expand their reach, build credibility, and offer something unique to their audiences.

4. Create a Referral Pipeline
Forming a structured or informal referral system with your partners can become a reliable source of new business. Be clear about expectations, track referrals, and celebrate mutual wins.

5. Stay Aligned and Communicative
Partnerships only thrive when there’s consistent communication and a shared vision. Regular check-ins help you stay on the same page and ensure the relationship continues to grow.
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Final Thought:
The right partnerships do more than grow your business—they help you build something stronger, more dynamic, and more connected. If you're ready to scale, look beyond solo strategies. Partnership might just be your smartest next step.

As we move into spring, business owners have a golden opportunity to clean up their books, fine-tune their financial strategies, and set the stage for success in the months ahead. Whether you’ve just wrapped up tax season or are gearing up for the next quarter, now is the perfect time to refresh your business finances.

1. Review Your Financial Statements
Start with a deep dive into your profit and loss statement, balance sheet, and cash flow statement. Understanding where your business stands financially will help you make informed decisions for the rest of the year. Look for trends, identify areas for improvement, and ensure your numbers align with your business goals.

2. Clean Up Outstanding Invoices & Payables
Unpaid invoices and late payments can disrupt your cash flow. Now is the time to follow up with clients on outstanding payments and reconcile your accounts payable. If late payments are a recurring issue, consider setting up automated reminders or offering small discounts for early payments.

3. Evaluate Your Budget & Adjust for the Year Ahead
Your business goals may have evolved since the start of the year, and your budget should reflect that. Take a fresh look at your expenses, revenue projections, and upcoming investments. Adjust your budget to optimize spending and ensure you’re on track to meet your financial objectives.

4. Maximize Tax Deductions & Plan for Next Year
While tax season may be behind you, now is the best time to plan for next year’s tax filing. Review your expenses to ensure you’re maximizing deductions and consider strategies like increasing retirement contributions, investing in business improvements, or adjusting your estimated tax payments.

5. Assess Your Business Growth Strategy
Are you planning to expand your team, invest in new technology, or explore new markets this year? Take a financial pulse check to see if your business can support these growth initiatives. If funding is needed, now is a great time to explore financing options like SBA loans, business lines of credit, or grants.

6. Refresh Your Payroll & Employee Benefits
Spring is also a great time to evaluate your payroll processes and employee benefits. Are you offering competitive salaries? Do you need to adjust for upcoming wage changes? Take this opportunity to ensure compliance and employee satisfaction.

7. Streamline Your Accounting Systems
If you’re still managing your books manually, consider switching to cloud-based accounting software that integrates with your business banking and payroll systems. Automating repetitive accounting tasks can save time and reduce errors.

8. Get Professional Guidance
​Business finances can be complex, and a second set of eyes can make all the difference. Consider working with an accountant or financial advisor to fine-tune your strategies and ensure you’re making the best financial decisions for your business.

Spring is all about renewal, and your business finances should be no exception. Take the time to clean up, plan ahead, and set yourself up for a strong and profitable year!

As winter winds down and the days get a little longer, something else begins to bloom--networking season. Spring is prime time for business owners to get out from behind their desks and start making meaningful connections. Between industry conferences, community expos, and local business mixers, the opportunities to grow your network (and your business) are everywhere this time of year.
But here’s the thing: just showing up isn’t enough. If you want to make the most of these events, you need a plan. Here’s how to turn spring networking into real results:

1. Choose Your Events Wisely
It’s tempting to say yes to every invite, but your time is valuable. Look for events that align with your goals:

• Want new clients? Prioritize community expos or trade shows.
• Looking for partnerships? Find niche industry events.
• Trying to stay visible locally? Attend chamber events and business association mixers.

✅ Tip: Block off time now on your calendar for the most promising events. Spring fills up fast!

2. Update Your Elevator Pitch
After a few quiet winter months, it’s easy to get rusty. Before your next event, refresh your 30-second intro. Focus on:

• Who you help
• What problems you solve
• Why people should work with you

And keep it conversational—no one likes to be pitched at a happy hour.

3. Bring the Right Tools
It may sound basic, but don’t forget:
✅ Plenty of business cards (yes, people still ask for them!)
✅ A digital way to connect (LinkedIn QR code is a lifesaver)
✅ Something memorable if you’re exhibiting (small branded giveaways or a unique handout)

4. Follow Up Like a Pro
Networking doesn’t end when the event does. Within a few days:

• Send a quick LinkedIn connection request.
• Follow up via email with anyone you had a meaningful conversation with.
• Offer something of value—an introduction, an article, or a coffee invite.

The goal is to keep the conversation going, not just collect contacts.

5. Track Your ROI
If you’re spending time and money attending events, track what’s working. Ask yourself:

• Did I meet anyone who became a client or referral partner?
• Was this event worth the investment?
• Should I attend again next year?

Being intentional with your networking helps make sure it’s driving real business growth.

Ready to Get Out There?
Spring is the season of new beginnings—so make it the season you grow your network and open doors to fresh opportunities. Pick your events, polish your pitch, and make the most of every conversation.
Your next big connection is out there. Go find it.

👉 Looking for great events to attend?
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Check out our Networking Events Calendar for upcoming opportunities to connect:
https://www.glm-accounting-bookkeeping.com/networking-calendar.html

What’s Shaping the Future of Small Businesses
As we step into 2025, small businesses are navigating a landscape of rapid transformation, innovation, and resilience. Emerging trends from 2024 continue to evolve, setting the stage for new opportunities and challenges. From the growing influence of AI to a heightened focus on cybersecurity and customer-centric strategies, here are the key business trends shaping the year ahead.

1. AI-Powered Efficiency and Personalization
Artificial Intelligence (AI) is no longer just an experimental tool; it has become an integral part of small business operations. In 2025, AI-driven automation is streamlining processes, enhancing customer insights, and optimizing marketing strategies. Businesses that harness AI for predictive analytics, personalized customer interactions, and workflow automation will gain a significant competitive advantage.

2. Cybersecurity: The New Business Imperative
With cyber threats becoming more sophisticated, digital security is a top priority for businesses of all sizes. Small businesses, often viewed as easy targets, are investing in advanced cybersecurity measures such as AI-driven threat detection, multi-factor authentication, and proactive defense strategies. Cyber resilience will be a cornerstone of business continuity and trust-building with customers.

3. Workplace Evolution: Hybrid and Flexible Work Models
The workforce revolution continues as companies adapt to hybrid and flexible work environments. Employees expect more than just a paycheck; they seek meaningful benefits such as mental health resources, remote work options, and professional development opportunities. Businesses that prioritize workplace culture and employee well-being will attract and retain top talent.

4. Entrepreneurial Boom: The Rise of Lean, Tech-Savvy Startups
The startup landscape is thriving, with an increasing number of entrepreneurs leveraging digital tools to launch and scale businesses efficiently. Low-overhead, tech-powered startups are gaining traction, offering innovative solutions with agile operations. The ease of access to AI, cloud computing, and automation tools is fueling this entrepreneurial resurgence.

5. Economic Optimism Amid Market Uncertainty
Despite inflation concerns and fluctuating economic conditions, small business owners remain hopeful about growth. Diversification of revenue streams, adoption of adaptive strategies, and enhanced customer relationships are key factors driving resilience. Businesses that focus on innovation and agility will be better equipped to navigate economic uncertainties.

6. Customer-Centric Strategies: Building Loyalty Through Experience
In a world where competition is fierce, exceptional customer service remains a key differentiator. Small businesses are doubling down on personalized experiences, fast problem resolution, and meaningful engagement. Relationship-building and customer satisfaction will continue to be powerful drivers of brand loyalty and long-term success.

7. Sustainable and Socially Responsible Business Practices
Sustainability is more than a buzzword—it’s a necessity. Consumers are increasingly drawn to businesses that prioritize eco-friendly initiatives, ethical sourcing, and social responsibility. Small businesses that integrate sustainability into their operations will build stronger connections with conscious consumers.

The Path Forward: Innovation Meets Adaptability
2025 is shaping up to be a year of transformative growth, driven by technological advancements and a renewed focus on resilience. By embracing AI, strengthening cybersecurity, fostering workplace flexibility, and prioritizing customer relationships, small businesses can thrive in an evolving market.

Prepare for 2025: Stay Agile and Visionary
The key to success in 2025 lies in adaptability. Small businesses that innovate, remain flexible, and invest in smart strategies will turn bold ideas into tangible results. As we move forward, the entrepreneurial spirit will continue to drive growth, creating new opportunities for businesses to excel in an ever-changing landscape.

https://www.dailyherald.com/20250112/business/hot-business-trends-in-2024-that-will-continue-to-shape-2025/ 

Running a small business requires more than just offering exceptional products or services; it demands effective management across various domains. Here are some essential tips and tools to help small business owners thrive:
1. Prioritize Organization
Effective organization is foundational to business success. This includes:

• Time Management: Set clear deadlines and develop detailed timelines to achieve them. Assign tasks with transparent instructions and ensure your team has the necessary resources to meet these deadlines.
  
• Document Management: Maintain accurate records of financial transactions, employee information, tax returns, and vendor payments. Keeping thorough documentation aids in bookkeeping and simplifies tax filing processes.
  

2. Develop a Unique Brand Identity
Distinguish your business by showcasing its unique personality:

• Customer Engagement: Implement personalized touches such as handwritten thank-you notes, complimentary gifts with purchases, or exclusive loyalty discounts.
  
• Authentic Content: Share behind-the-scenes glimpses of your operations, introduce your team through photos or videos, and highlight your core values to build a genuine connection with your audience.
  

3. Stay Adaptable to Market Changes
Remaining flexible is crucial in a dynamic market:

• Market Research: Stay informed about industry trends and be receptive to customer feedback.
  
• Business Model Evaluation: Be prepared to adjust your business model or pricing strategies in response to market shifts to better meet customer needs.
  

4. Leverage Technology for Efficiency
Utilize various tools to streamline operations:

• Customer Relationship Management (CRM) Systems: Use CRM platforms to analyze customer data, helping you tailor your marketing efforts effectively.
  
• Accounting Software: Automate daily accounting tasks to reduce manual data entry and minimize errors.
  
• Payroll Management Tools: Simplify payroll processes to ensure timely and accurate employee compensation.
  
• Marketing Automation: Deploy automated marketing campaigns to reach your audience efficiently while focusing on other strategic tasks.
  
• Project Management Applications: Organize tasks, assign responsibilities, and monitor project progress to enhance team collaboration.
  
• Artificial Intelligence (AI) Tools: Implement AI solutions like chatbots to provide prompt customer service and support, even beyond regular business hours.
  
• Financial Management Platforms: Consolidate financial records, manage invoices, and process payments seamlessly.
  

By embracing these strategies and tools, small business owners can navigate the complexities of entrepreneurship more effectively, paving the way for sustained growth and success.

https://www.dailyherald.com/20241222/business/tips-tools-and-advice-for-small-business-owners/

As the calendar flips to a new year, it’s the perfect time to reimagine and refine how we engage with our audiences. Inspired by Malcolm Gladwell’s idea in The Tipping Point—where the smallest nudge in the right place can create monumental change—marketers can use this principle to identify their most effective “touchpoints.”

What Are Marketing Touchpoints?
Touchpoints are the interactions and experiences that connect your business with your audience. These can take many forms, from social media content and newsletters to handwritten notes and meaningful in-person conversations. They represent the moments where you meet your audience in ways that resonate and inspire action.

The key to effective touchpoints lies in understanding your audience. What moves them? Where are the moments of opportunity in your marketing efforts? By consistently placing yourself in the right place at the right time, you can transform fleeting interactions into lasting impressions.

Types of Marketing Touchpoints
Here are some examples of touchpoints that can help your business stand out:

1. Consistent Digital Presence: Regular, thoughtful newsletters or emails that provide value to your customers.
2. Authentic Communication: Handwritten notes or personalized messages to your clients.
3. Earned Media: Getting published in trusted outlets or sharing testimonials from happy customers.
4. Community Engagement: Participating in local events or creating experiences that connect with your audience on a personal level.
5. Word-of-Mouth Marketing: Encouraging satisfied customers to share their experiences.

The Secret to Success? Showing Up
As Woody Allen famously said, “80% of success is just showing up.” But as marketers, we must go beyond mere presence. It’s about showing up well—prepared, enthusiastic, and aligned with what your audience needs.

This means paying close attention to how your audience interacts with your brand and adapting your messaging accordingly. Thoughtful marketing is not a one-size-fits-all approach; it’s about crafting tailored interactions that feel like small, timely gifts.

Looking Ahead to 2025In today’s crowded marketplace, repetition and consistency are vital. You may feel like you’re saying the same thing over and over, but remember: your audience is often distracted and may only catch bits and pieces of your message. Stay patient and persistent.

Here’s how to refine your approach this year:

• Segment Your Audience: Pay attention to what matters to different groups within your customer base.
• Refine Messaging: Adjust your touchpoints to reflect current customer needs and trends.
• Focus on Timing: Position your brand to deliver value at just the right moment.

Closing Thoughts
As we move into 2025, think of your marketing efforts as a series of strategic nudges that guide your audience toward your brand. By focusing on meaningful, personalized touchpoints, you can transform casual observers into loyal customers.

​As the calendar year comes to a close, December is the perfect time for businesses to evaluate their financial health and lay the groundwork for a prosperous new year. Strategic financial planning now can help you maximize savings, minimize liabilities, and set clear goals for the future.
Here are three critical areas to focus on as you prepare for year-end financial planning.

1. Tax Strategies: Maximize Deductions and Credits
Tax planning is a vital part of year-end financial preparation. Taking proactive steps now can reduce your tax burden and boost your bottom line.

• Review Deductions: Ensure you’ve accounted for all eligible business expenses, such as office supplies, travel costs, and employee benefits.
• Accelerate Expenses: Consider making additional purchases or paying upcoming expenses before year-end to increase deductible costs for the current fiscal year.
• Defer Income: If feasible, delay income receipt until January to shift tax liability to the next year, especially if you anticipate a lower tax rate then.
• Leverage Tax Credits: Research credits you may qualify for, such as those for hiring employees, investing in clean energy, or conducting research and development.

Collaborate with a tax professional to ensure you’re maximizing your deductions and credits while staying compliant with regulations.

2. Budget Planning: Set Realistic Goals for 2025
A well-structured budget is the cornerstone of financial success. Use this time to evaluate your 2024 performance and refine your strategy for the upcoming year.

• Analyze Past Performance: Review this year’s financial data to identify trends in revenue, expenses, and profit margins. Determine areas where you over- or under-spent.
• Set Priorities: Establish clear financial goals for 2025, whether it’s increasing revenue, reducing expenses, or investing in growth initiatives.
• Build a Contingency Fund: Allocate funds for unexpected expenses to ensure your business remains resilient in the face of challenges.
• Engage Your Team: Involve key stakeholders in the budgeting process to ensure alignment with organizational goals and realistic expectations.

By planning your budget thoughtfully, you’ll set your business up for success and avoid financial surprises.

3. Investment Opportunities: Plan for Growth
Year-end is also a great time to explore new opportunities to grow and strengthen your business in the upcoming year.

• Upgrade Technology: Invest in software, equipment, or systems that will improve efficiency or enhance customer experiences.
• Expand Your Offerings: Explore launching new products or services to diversify revenue streams.
• Professional Development: Allocate funds for employee training or leadership development to enhance team capabilities.
• Explore Tax-Advantaged Investments: Consider investments like retirement plans or energy-efficient upgrades that provide both growth potential and tax benefits.

Carefully evaluate each opportunity to ensure it aligns with your business goals and offers a strong return on investment.

Get Started TodayYear-end financial planning doesn’t have to be overwhelming. By focusing on tax strategies, budget planning, and investment opportunities, you’ll create a solid foundation for a successful 2025. To ensure your efforts are effective, consult with financial advisors, accountants, or tax professionals who can provide tailored guidance for your business.
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With thoughtful planning, you can finish the year strong and step into the new year with confidence.
Here’s to your financial success in 2025! 🎉💼

Corporate Transparency Act
If you own an interest in a legal entity, you will likely need to comply with new reporting requirements, in some cases as early as January 1, 2024. In 2021, Congress enacted the Corporate Transparency Act (“CTA”), which tasked the U.S. Treasury Department with developing a system of standardized reporting for companies (including LLCs and partnerships) being formed in the U.S. and the disclosure of their beneficial ownership information. Failure to comply with these new obligations brings potential civil and criminal penalties to individual business owners.

Who Needs to Report?
The CTA requires privately owned corporations, LLCs, partnerships, and other legal entities formed by a filing with a Secretary of State (“Reporting Companies”) to disclose information about their beneficial owners and/or controlling members. Reporting is required for individuals who have “substantial control” over the company or control at least 25% of the entity. All reporting must occur through an online portal established on the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) website.

What Information Needs to Be Reported?
Reporting companies must disclose:

• (a) the name of the reporting company,
• (b) any trade name or “doing business as” name,
• (c) the business street address,
• (d) the state of formation, and
• (e) the Taxpayer Identification Number (TIN) under which the reporting company reports to the IRS.

Each beneficial owner must report the individual’s:

• (i) full legal name,
• (ii) date of birth,
• (iii) business (or residential) address, and
• (iv) either passport or state driver’s license number (including a scanned copy of the document).

As ownership of the entity changes, the beneficial ownership information must be updated, creating an ongoing CTA reporting requirement.

When to Report?

• Companies formed or registered to do business in the U.S. after January 1, 2024, must report the identities of their beneficial owners within 90 days of formation.
• Companies formed before January 1, 2024, have until January 1, 2025, to report their current beneficial owners.
• Any changes to beneficial ownership after January 1, 2025, must be reported within 30 days of the change.

Reporting Violations
The CTA establishes penalties for failing to provide accurate and up-to-date information to FinCEN. Violators may face:
(a) civil penalties of up to $500 per day for each violation, or
(b) criminal penalties of up to $10,000 and imprisonment for up to two years.

NEXT STEPS
​GLM has created and is offering a service package to complete your Beneficial Ownership information filings with the appropriate agency. Our fee for this service begins at a base price of $195.00 (including one shareholder or member) and an extra $100.00 per additional shareholder or member.
If you would like GLM to complete CTA compliance filings, please sign and date this page and send it back to us. You will also need to include:

• A current copy (PDF, not expired) of a government-issued identification form for each shareholder/member that owns 25% or more of the company.

Our deadline to complete the filings is June 30, 2024.