​Causes to Check Out, With Local Ties

As you may know, I am a networker. I am involved in a few organizations (many of them with events highlighted above). I get to meet some great business people and many of them focus any spare time they have to a cause. I wanted to highlight a few of them today.
 
1. Rotary Club
Rotary's International goal is to rid the world of Polio. Local Clubs, support that cause and even more! I am a member of Rotary Club of Schaumburg/ Hoffman Estates (Meets on Fridays at Noon in Schaumburg.  

2. Walk to End Alzheimer's
I have known Kari-Ann Ryan for many years and in all that time, she has spearheaded a movement to End Alzheimer's. Her life has been affected personally. You can also be added to her email list for all the events she organizes, by emailing her: kari.ann.b.ryan@gmail.com

3. National Association of Parks Foundations
The NAPF's vision is to build effective, active, local park foundations, volunteers and other citizens that support their park systems to enhance the park experience in their communities. These Park Foundations usually provide funding for Park District Activities for people in the community that generally cannot afford them.
 
Please contact my longtime friend,  Donald Ortale, Executive Director of NAPF, to learn more about how you can help. Call him at 630-965-1000 or email dortale@ortaleassociates.com 
 
4. The Business Ledger- 2020 Guide to Business Philanthropy & Social Responsibility
This is a list of notable local nonprofits and charities. 

#GivingTuesday is a global day of giving fueled by the power of social media and collaboration.
 
The following is a summary of a full article at Charity Navigator:
 
A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income tax if you itemize deductions.
If the gifts are deductible, the actual cost of the donation is reduced by your tax savings. 

• A contribution to a qualified charity is deductible in the year in which it is paid. 
• Most, but not all, charitable organizations qualify for a charitable contribution deduction.
• You can deduct contributions only if they are made to or for the use of a qualified recipient. 
• An organization could lose its charity status if it devotes a substantial part of its activities to formulating propaganda or otherwise trying to influence legislation. 
• There are limits to how much you can deduct, but they're very high.
• Rules exist for non-cash donations.
• Remember to document.
• Organizations to Which You Can Give and Deduct Your Donation:
  • Churches and other religious organizations;
  • Tax exempt educational organizations;
  • Tax exempt hospitals and certain medical research organizations;
  • A government unit, such as a state or a political subdivision of a state;
  • Publicly supported organizations such as a community chest;
  • Certain private foundations that distribute all contributions they receive to public charities within two-and-a-half months after the end of the foundation's fiscal year;
  • A private operating foundation which pools all of its donations in a common fund;
  • Certain membership organizations that rely on the general public for more than a third of their contributions.

Read Complete Article From Charity Navigator Here

More info from the State Of Illinois: 
​https://www2.illinois.gov/IISNews/22388-State_of_Illinois_COVID-19_Update_-_Monday_November_23.pdf

Typical Situation: Our client has seen an increase in their Contribution Rate Determination (unemployment tax rate) that is mailed to all Illinois employers on or about December 1st every year.  They also have protested their own unemployment claims but have not been successful at getting benefits denied.
 
When you hear a business owner say:
•           “I do not understand why someone was allowed to collect benefits”
•           “I hate dealing with the unemployment office as it is a no win situation”
•           “General: complaints about their unemployment claims “
 
The Consultant educates them on the unemployment laws in Illinois and to help them reduce their state unemployment taxes.
 
How they Work: They protest the claims filed against the employer and represent the employer at all unemployment hearings and go to their locations to do training sessions to educate the employer on how to handle different types of situations.  They will verify all the charges to the employer’s account to make sure they are not being charged more than they should be charged. 
 
You can introduce them:
“It sounds like you may need some help with your unemployment claims against you. I can introduce you to someone that can help. They would be happy to have a telephone consultation to discuss your situation.   

What is a “Typical Situation” people are in when they realize they need your help?
Someone who has been using the same vendors and suppliers for a long time without sending them out to bid. OR Someone who needs to reduce costs but doesn’t have the time or the staff to perform a competitive analysis.
 
What is something someone might say that would lead me to think of you?
I can’t make sense of my complicated bill and I don’t know if I am paying the right amount...or I think I am being over-charged by a particular supplier!
 
What (Specifically) do you do?
We make sure our clients are paying the right amount to their suppliers of telecommunications, credit card processing, small package shipping, electronic document signature and waste services
 
How do you do it (3 Lines Max)?

1. We review the last 3- 12 months of billings and recover any overcharges and incorrect billings.
2. Then we make sure our clients are only paying for services they need.
3. Last we negotiate new rates with current suppliers and alternative suppliers and present a report for the client to decide for themselves.

We do this service with no upfront fee. There is only a fee if we save money and the client decides to go ahead. 
 
Matching Ideas with Resources: 

My dad came across the Financial Statements of his dad's business from April 1946. I scanned a page of it to the right. The way QuickBooks currently prints a Profit and Loss Statement, you have the Revenue at the top and then Costs of Goods, then Expenses and finally the Profit at the bottom, but this statement has all the Expenses, then the Revenue THEN the Profit. 
 
The numbers are interesting. As you could guess, it is a bar, a few blocks away from Wrigley Field. In 1946 the average family income was about $2,600 per year or $216.66 per month. The profit for this month was $155.78. Previous month's profits averaged $670. 
 
Why was this month so low? As I looked at the details of the financials, I saw that he bought additional beer this month. Maybe there was a deal, or added a new brand.
 
Having monthly financial statements are important for a business. They answer questions you might have. Can you take advantage of a suppliers' deal? Will purchasing equipment be a better advantage this month or next? 
 
What is your business worth? I did a quick Valuation of my Grandfather's business, based on the financials we found. At the beginning of 1946, it would be worth about $28,140. In June 1946, it would be worth over $40,000. What do you think a major factor was in the increase in the business value in those first 6 months of 1946? (Hint: When was the last time the Cubs were in the World Series?)

You save money on expense by streamlining your processes. As we begin the Eighth month of 2020, 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!

After spending most of my time during the "Shelter In Place" on Zoom (and Free Conference Call, WebEx, Global Meet and my trusty iPhone),  I finally figured out what to do to make the podcast more of a regular feature and promote power partners GLM's clients should know and possibly utilize.  

The idea is to talk with a business associate I know very well. Maybe they have worked with a client, or I have learned of their outstanding reputation from others I trust. During the 10 Minutes interview I make sure to ask most of these questions:

• What (Specifically) do you do? 
• How do you do it?
• What is a “Typical Situation” people are in when they realize they need your help?
• What is something someone might say that would lead me to think of you?
• What is your Dream referral?
• How has your business changed recently?
• What advise do you have for people right now based on your industry?
• What will you do differently on the other side of this?
• How can I introduce you? 

Others have been posted on Social Media (Linked In, Facebook and Twitter) and all others can be found on our You Tube Channel: 

Networking events are all about, well, networking, yet some people seem to attend event after event without ever making a meaningful contact. Here are some useful tips you can use to network better.

Come early
Even coming in a 15 minutes to half-hour early means you have time to acclimate yourself to the room, the hosts and your surroundings. By the time the next early bird gets there, you already have something in common. Also, chances are good they’ll be grateful to have someone to talk to and your initial nervousness will already have burnt off.

Stay late
After a great conference, you might literally want to chew over the day’s speeches with a light bite or cocktail. Chances are good that people will be more relaxed or relieved at the end of an event. You also won’t have to struggle to make conversation, simply talk about the day and compare it to the experiences of the person you just met.

Tell someone about Exhibit booths you liked and to try specific food there
Exhibitors work hard to plan and prepare for the expo. Reward them by telling others about the booth.
Each aisle has a food vendor providing a free sample. If there’s something particularly delicious or beautiful, help yourself to a serving. Then start up a conversation with someone heading to the food vendor. Say something light or goofy that requires no pressure to respond and makes the person next to you smile and take a bite and then share their own experiences.

Most importantly: Listen
Exhibitors have not only spent a lot of time and preparing, they also spent money to exhibit, make give-a-ways and marketing materials. They have earned the right to tell you about their business. It is important to listen to them and see how you can help them.

• Do you need their product or service?
• Do you know someone who needs their product or service?
• What other types of business also work with the same type of prospects as this person?

If you can help them with referrals of introductions, please help them. If you cannot, not problem.
​
Don’t Sell
As I mentioned, the exhibitors have earned the right to tell you about their business. Please do not approach them to only sell your product of service. Yes, if they ask what you do, you can talk with them about your business, but don’t sell. Explain. They maybe asking so they can tailor their message to you more specifically. Please be respectful of the Expo.

Come and Network this Thursday March 5th from 2-6 PM. Learn more here: ​https://www.thegoa.com/expo2020.html

Typical Situation: Our client has to improve worker morale and avoid loss of productivity. Our client is also looking for ways for their employees reduce time away from work and reduce Training Expenses.     
Maybe there has been an employee Injury or death, news of worker (s) being injured on the job or equipment failure. 
 
When you hear a business owner say:

• “I need to reduce Worker Compensation Claims.”
• “I hate dealing with worker turnover.”
• “General: working Worker Safety/Prevention; Worker Safety Training “

 
They Provide FREE Safety Awareness to businesses with 2-250 employees within the U.S. 
Four and six hour, FREE courses on numerous safety topics.
 
How they Work: Harper provides free safety awareness courses from the Susan Harwood Training Grant. We provide high quality courses that instructed by OSHA Outreach Trainers. The courses are relevant as the training topics have been selected by needs of community that were surveyed. Courses offered until late Summer 2020.
 
You can introduce them:
“Harper College has FREE safety awareness courses taught by Safety Professionals and OSHA Outreach trainers.   These courses can reduce your business operating expenses, increase employee morale and turnover.  The website is:  www.harpercollege.edu/safety.”   

Matching Ideas with Resources: