B2B/B2C Business Owners/Professional Services:   Any business that communicates with customer and delivers good/services to them

• Businesses with 0 - 100 Employees and/or  $0 - $100M in Yearly Revenue
• Business within Chicagoland and beyond
• Business Owners
  • Committed to leveraging technology for a simplified and seamless business operations
  • Interested to maintain immaculate records and details with minimal effort and cost
  • Want to grow business with clear advantage over the competitors

 
Please introduce me when you hear a business owner say:

• “I pay subscription for so many technology services and make them work for me.” [Example, CRM, Zoom, Mailchimp, Quick Books, Website, Payroll, Time-tracking, HR, Office suite, Calendar booking, and many more can be replaced with just one subscription based system.]
• “I want the technology to just work” or “I don’t want to think and worry about my technology” or “I want IT to be like a utility; it should always be on and do its job.”
• “I am not able to understand what value my technology delivers” or “how can my technology help me grow my business”

 
What Sliver Does: We offer a software technology platform which resides on the Cloud and acts as “the Operating System for business”. It helps businesses manage customers, employees, marketing campaigns, projects, books, digital communication, and much more --- all through a single sign-on interconnected suite of software applications. All this for a VERY SMALL subscription fee.
 
How Sliver Does it: We understand our clients’ business in details and set up a SaaS based IT platform and configure it.  We also provide ongoing support and process best practices that businesses can implement to grow revenue and cut time/cost.  All the records and data are stored on a secure cloud with two-factor authentication giving the owners peace of mind.  The best part is, once the system is set up properly, the data can be tracked for any upstream and downstream activities across function for compliance or forensics.
 
Matching Ideas with Resources:

The most frequent reason given by owners of a privately owned company for considering a sale includes a combination of the following:

• Retirement
• Health Reasons
• Partnership Disputes
• Divorce
• Loss of Key Customers or Suppliers
• Other Business Interests

However, starting a sale exercise is not something your business, irrespective of size, should undertake lightly, and every effort should be made to manage the sale process professionally, and to prepare, or ‘groom’ the business so to facilitate a successful outcome.

This guide has been prepared, based on our proven knowledge and practical experience, to guide owners through the complex phases involved in a business sale. While the content within this guide is comprehensive, we have also presented in a user-friendly style. We believe that this guide can play a significant role in helping business owners like you, deal with the critical issues that will come about during the business sale process.

​Should you have any questions after reading this guide we would be more than pleased to discuss these with you. You will find our contact details at the end of the guide and we look forward to hearing from you!
 
Tom Gosche 
Business Strategist
tomg@goglm.com
630-675-8971

​Cost of goods sold: The cost of products sold; may also be referred to as cost of merchandise sold or cost of sales.

Goods available for sale: Includes all items that have been transformed from raw materials to finished goods.

Gross profit: (Sales - the cost of merchandise sold)

Gross Profit Percentage: (Gross profit / sales)

Operating income: (Gross profit – operating expenses)

Net Income: (Revenues – expenses)

Selling expenses: Costs directly related to the selling of a product or service. A category in the income sheet under operating expenses before administrative expenses.

Administrative/general expenses: Expenses incurred in the administration or general operations of the business; costs not directly related to selling, such as officer salaries. A category in the income sheet under operating expenses following selling expenses.

Ending Inventory: Cost of good sold = beginning inventory + purchases – ending inventory.

Multiple-step income statement: A form of income statement that contains several sections, subsections, and subtotals.

Single-step income statement: A form of income statement that deducts the total of all expenses in one step from the total of all revenues. The single-step form emphasizes total revenues and total expenses in determining net income. A criticism of the single-step form is that gross profit and operating income are not reported.

Bank reconciliation: Analysis that details the items responsible for the difference between the cash balance reported in the bank statement and the cash balance in the ledger.

• : Coins, currency (paper money), checks, money orders, and money on deposit available for unrestricted withdrawal from banks and other financial institutions. (Anything a bank would accept for deposit).

Accounts receivable: Receivables created by selling stuff on credit. The most common transaction creating a receivable is selling stuff on account (on credit).

Direct write-off method records bad debt expense only when an account is determined to be worthless.

Days’ sales in receivables: Estimate of the average number of days it takes to collect accounts receivable, = average daily sales / average accounts receivable.

Return on sales: Profitability metric computed by dividing net/operating income by sales.

It has been a while since we shared our vision. It is placed on the website 24/7 Here

Core Values & Integrity- Requires that we possess and steadfastly adhere to high moral principles and professional standards.
 
Excellence- Requires us to provide clients (both external and internal) with exceptional service and experience.  This means that our work product is of outstanding quality, meets delivery promises and provides value to our clients. 
 
Career Development/Continuous Improvement - Our professionals dedicate themselves to constantly improving client experiences.  As individuals we continuously learn new skills and improve existing skills and competencies.  As accounting, tax and consulting professionals we are committed and dedicated to our clients, the firm, and ourselves.
 
Work/Life Balance – We respect various work/life requirements of our people and strive to be sensitive and flexible to each individual case.  We work with our full time and part time employees to create a win-win arrangement for them and the firm.  We work to live rather than live to work.
 
Client Service – We are committed to providing timely, reliable responses and to nurture the relationship with our clients.  Our goal is to define, measure, understand, manage and improve client expectations and be able to align them with firm core values, goals and regulatory compliance.

Successful business owners tell us that they are concerned about:
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• Rising labor costs
• Health Insurance
• Workers Comp
• Government Regulations
• Declining Sales
• Taxes
• Fighting Fires
• Tight Cash Flow
• Errors, Mistakes, Quality
• Productivity & Attitude
• Equipment Capacity
• Customer Demands
• Not having anyone to talk with

What concerns do you have?

Do they keep you up at night?

Successful business owners also tell us they have a solid relationship with their accounting firm. They indicate this has occurred because of a unique process that allows them to spend more of their time growing their business.

The result is increased business and a better night’s sleep!

Your business concerns are discussed during regular consulting sessions. Our deep network of contacts can help you solve most of your business concerns. These specialist are experts in their respective field.

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?

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: 

Good recordkeeping is an essential element of tax planning

Now is a good time for people to begin thinking about next year’s tax return. While it may seem early to be preparing for 2022, reviewing your recordkeeping now will pay off when it comes time to file again.
Here are some suggestions to help taxpayers keep good records.

Taxpayers should develop a system that keeps all their important information together. They can use a software program for electronic recordkeeping. They could also store paper documents in labeled folders.

Throughout the year, they should add tax records to their files as they receive them. Having records handy makes preparing a tax return next year easier.
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• Taxpayers should notify the IRS if their address changes. Taxpayers should let the IRS know if they change their address. They should also notify the Social Security Administration of a legal name change to avoid a delay in processing their tax return.
  
  
• Review their tax return to make sure they didn’t overlook any credits or deductions. Double check credits and deductions.  Records that taxpayers should keep include receipts, canceled checks and other documents that support income, including any unemployment compensation.
  
  
• Taxpayers should also keep records relating to property they dispose of or sell. They must keep these records to figure their basis for figuring gains or losses.
• Taxpayers should keep records for three years from the date they filed the return. Taxpayers who have employees must keep all employment tax records for at least four years after the tax is due or paid, whichever is later.