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4 I’s and Can’t C!

Hello, this is James Fleming, Fleming Financial Solutions with a message that hopefully doesn’t bring back painful memories for anybody…else!)

As I was growing up and going to elementary school and junior high, there were not a lot of kids who wore eyeglasses. At least that’s the way it seemed to me because I felt I was the only one or one of few being picked on.

In school, being different in any way brought on unwanted or undeserved attention. There were attempts to take my eyeglasses; there were requests to try the glasses on, there was name calling (and some fighting).

Probably the worse though was a phrase that stuck with me a long time…4 eyes and can’t see! That one really bothered me for some reason. It meant that even with my own eyes and a pair of glasses, I still couldn’t see. Boy that bothered me!

Well, fast forward a few years and as a business owner and marketer, that phrase – 4 eyes and can’t C – has taken on a new meaning.

The four (4) i’s are –

Invisible – incapable of being seen.

Intangible – not touchable or touching

Immaterial – of no substantial consequence: unimportant

Inconsequential – lacking weight, position, or influence

If your business is suffering from these 4 I’s then you definitely can’t C – can’t get a customer or client.

Let’s see if we can make this clearer.

  • Invisible – are you not being seen? Are you present in your community, industry or market? When was the last time you attended a networking meeting or community event. If you haven’t recently, then its quite possible you are invisible.
  • Intangible – who have you touched or been touched by lately. Are you reaching out and making contacts with both current and potential clients; with potential joint venture and business partners. If you haven’t recently, then its quite possible you are intangible.
  • Immaterial – are you a positive influence or any influence in the market place? Are you important – a thought leader. Do people seek you out for your opinion? If not, then its quite possible you’ve become immaterial.
  • Inconsequential – are you helping clients and prospects? are you educating the market and provding solutions? Are you being a positive force for change in people’s lives. If not, then its quite possible you’ve become inconsequential.

If you’ve found yourself in this situation, then you definitely can’t C. You can’t get a customer or client. You’re not earning any money for your family, your employees or your business. If you are going to survive in business, you’ve got to turn this around – NOW!

So get out there in the market place and be visible – go meet some people; be tangible – go touch some people where they live; be material – let it be known that you have an opinion or voice that’s worth listening to and lastly, be consequential – make a difference in people’s lives, be a problem solver. Do all this and you’ll not only get customers and clients, you’ll get another C – that’s Confidence!

This is James Fleming, Fleming Financial Solutions. If I can be of service to you, please feel free to give me a call at 240-356-5050 or email me at james@flemingfinancialsolutions.com.

I look forward to hearing from you.

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IRS Delays Open of Filing Season!

Though we got past the tax portion of the Fiscal Cliff, it wasn’t without problems. The IRS announced that it won’t begin accepting tax returns for most filers until January 30, 2013 and for some select filers until February or March. See the letter from the IRS below –

http://www.irs.gov/uac/Newsroom/IRS-Plans-Jan.-30-Tax-Season-Opening-For-1040-Filers

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30th Anniversary Offer – Celebrate With Me!

It’s my 30th Anniversary in Business and I want to share it with you!

It’s hard to believe but I have been involved in some form of business ownership since 1982.

I began with one bookkeeping client on a Digital VAX machine running one of the first computerized accounting packages. That evolved into tax preparation. I later added life and health insurance and basic financial planning. I’ve dabbled in mortgage loan origination and helped many companies with their sales and marketing. Its been a fun ride and I still have some hair left after wearing some many different hats.

So, as I said, I’m celebrating my 30th Anniversary and didn’t want to do it alone. I’ve decided to make some special offers to you to celebrate with me and to give you a “jumpstart” for the new year.

Here’s what I’ve got –

Business Plan – If you need a business plan, you can save $450 by celebrating with me. I’ll create your complete business plan including SWOT analysis and financials and consultations with me and other resources as needed. The usual fee for this is $1,500 – your invest is $1,050.

Call re:  Payment plan for this offer!

CLICK HERE for Business Plan

Incorporation Services -You’ve been putting off properly setting up your business. Well, now is the time to do it right. Whether you need an LLC, Partnership, S Corporation or C Corporation, lets get it done for the new year.

I’ll create the necessary Articles, get your Sales and Use Tax number (if needed), your Federal Employer ID Number and provide at least one hour of consulting to be sure we get it right. Oh, and also I’ll be your resident agent (in Maryland) and get you a corporate seal to boot and get you done in 2 weeks. (Try that with my competitors and see what happens!)

You’ll save $150 off of the usual $500 fee – Your investment only $350.00. (Investment does not include the state filing fees)

CLICK HERE for Incorporation Services

501(c)3 Application Assistance– You’ve always wanted to be a servant and help those in need. You have a passion to help but didn’t have a vehicle to do so. You thought that setting up a 501(c)3 organization was both confusing and expensive.

Well, now is the time to act.

I will walk you through every bit of the 1023 application to make the process easy. I’ll help you with the Narrative, the Financials, Conflict of Interest and any other sections that might be a stumbling block.

You would normally invest $600 for this service; celebrate my anniversary and you’ll save $180. Your invest – $420 (Does not include state incorporation fees or the IRS application fee)

CLICK HERE for 501(c)3 Assistance

Incorporation and 501(c)3 Combination – If you need to complete both the incorporation and the 501(c)3 application process, click below to get the combination offering

CLICK HERE for Combination Services

Deadline has been extended to January 5, 2013. (Services can be provided throughout 2013 as needed)

So act now! Celebrate my anniversary and celebrate your dreams.

P.S. – Offer is not available for projects already started!

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Why Sales People Fail!

Why Do Sales People Fail?

I was once asked this question while during a training on “How to condition your mind to Master Sales” ‘……. Why sales people fail”? I was able to answer this question in a few little words  – “Lack of Persistence”.

A good definition of persistence is found on dictionary.com

1) Persistence is refusing to give up or let go,
2) To hold firm and steady to a purpose, state or understanding.

To be persistent is the core ingredient to success; the lack of persistence is the only ingredient needed to fail.

We as adults are challenged daily to hold firm on our direction to never give up. In the midst of difficulty, it is easier for us to find excuses to fail rather then the determination to succeed.

As children we do not recognize Lack of Persistence. In trials of difficulties,  we find reasons to push forward, to not let go, to never accept No!

I often ask sales people to convert their thinking back to when they were a child. Can you think of 3 examples of when as a child you demonstrated the will to persist?

1)_____________________, 2)______________________, 3)______________________

I can remember my 3 examples….

1) When I first learn how to ride a bike,
2) When I learned how to walk
3) Getting what I wanted for Christmas.

Each one of these examples is a statement of refusing to  give up or to let go. We do not recognize as children words like, Impossible, Improvable, not able, or I can not do it. Why is this? The answer is simple. To persist, to succeed is a natural part of who we are and how we are built from the grace of God. We are contaminated with failure as we grow into adulthood which brings on excuses for lack of persistence in our daily lives.

To succeed as a sales person, all we need is to condition our minds to convert back to who we were as children. Unchain yourself from the word “No”, don’t be afraid to stumble and fall, just brush yourself off and start over again.

Last but not least when you find that your day was not as productive as it could have been, remember the 5 Ps in sales “Proper Planning Prevent Poor Performance”.

So stay on your course, never give up and hold firm on your Goal. And with that I want you to “Persist until you succeed”

By Micheal McGee Director of Sales, Training and Development For Mountain Climbers Sales and Consulting Firm www.mcsalesconsulting.com

Author of the book “The Re-Birth of the Blackman….Re-Building a Generation”.

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5 Tools You Need to Start Your Business or Ministry!

4 Rs and 1 F

I was inspired by Pastor Carolyn Streeter,  New Covenant International Ministries, message on Financial Blessings, so I wrote this article to help you as you consider starting or expanding your own business or ministry.

Exodus 4:2 – “And the LORD said unto him, What [is] that in thine hand? And he said, A rod.”

Resume – Yours and Others
What are the giftings, passions and strong desires that you have that can be used to help others in need? What’s in your hands? What job skills or education do you have that could be valuable to some one else? Who do you know who has complimentary skills, ie you’re a tech person and the other is a good sales person?

Proverbs 15:22 – “Without counsel purposes are disappointed: but in the multitude of counsellors they are established”

Research – Who is your market and what do they need?
What are the needs of the community you serve or want to serve? Is anyone providing these services now? If no, why not? If yes, how well are they doing well and is there room for someone else to help? (McDonalds, Burger King, Wendy’s all serve the same need just differently). How would or could you reach this community effectively and profitably?

Ephesians 3:20 – “Now unto HE that is able to do exceeding, abundantly above all that we ask or think according to the power that worketh within us!”

Resources – What will you need to make this happen?
Do you have the necessary skills, knowledge or personnel to make this a viable business or ministry? Can you get the resources you need if you don’t have them now and how would you get the resources? Can you create an on-going monthly recurring income from the services you provide?

Luke 14:28 – “But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it?”

Realism – Can you realistically create the business or ministry?
First of all, the answer to this is yes…but will you? Do you have the character, passion and motivation to stay with the plan through the peaks and valleys? There will be financial, people and family pressures that may make you want to throw up your hands.

Hebrews 11:33 – “…….Who through faith subdued kingdoms, wrought righteousness, obtained promises, stopped the mouths of lions,…….”

Faith – This is where it all begins and ends.
After you’ve finished the 4 Rs,  you realize that without faith, you will accomplish nothing.  So let faith be your beginning and ending in any venture that you take up.

Feel free to comment and share.

If you’d like to contact me regarding this or other tax planning or business ideas, please give me a call at  240-356-5050.

To Your Financial Health.

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Getting Married? Financial Questions to Ask Before You “Tie the Knot”!

Whether you are married, engaged or thinking about, here are some “tough love” questions to ask before and after!
 

  1. How much income do you make?
  2. How much do you have in savings?
  3. How much have you saved for retirement?
  4. How much debt do you have?
  5. Do you have a plan to pay off your debt?
  6. My debts and your debts – will we pay them all off together or will we be responsible for our individual debts as well as what ever we create together?
  7. Will we have combined checking and savings accounts or separate accounts?
  8. What are your credit scores?
  9. Do you have life insurance, health insurance or disability insurance?
  10. When will the beneficiary be changed to the new spouse?
  11. Do you want children?
  12. If so, daycare or 1 parent will stay at home?
  13. Will we homeschool, public school or private school?
  14. Will we save for their college and/or let them pursue grants, scholarships or loans?
  15. Do you owe child support and if so, how much and for how much longer?
  16. Are all your tax returns filed?
  17. Do you owe Federal and/or State “back” taxes? If so, how much on each?
  18. If you owe, are you paying on them now?

I’m sure that the answers you’ll get will generate more “lively” discussions.

Feel free to responsibly comment! To Your Financial Health!

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Healthcare Reform Upheld – What It Means for You!

By now of course you’ve heard that the U.S. Supreme Court has upheld the key provisions of the Affordable Care Act, or “Obamacare.” In an unexpected twist, the Court ruled that the controversial individual mandate is constitutional, but under the government’s power to tax, rather than to regulate commerce.

We don’t need to go into the details of the ruling itself — just turn on your television, and somewhere, somebody is opining on it right now! But we do want to remind you the Court’s decision means several new taxes will go into effect as scheduled:

    • On January 1, 2013, the Medicare tax will go up by 0.9% for individuals earning over $200,000 ($250,000 for joint filers, $125,000 for married individuals filing separately).

    • Also on January 1, there will be a new “Unearned Income Medicare Contribution” of 3.8% on investment income, for those earning more than $200,000 ($250,000 for joint filers).

    • Beginning on January 1, 2014, there will be a new $2,500 limit on tax-free contributions to flexible spending accounts, and employers with more than 50 employees will face a penalty of $2,000 per employee for not offering health insurance to full-time employees.

    • Finally, the threshold for deducting medical and dental expenses rises from 7.5% of adjusted gross income to 10%. This will make these expenses even harder to deduct without help from advanced strategies like Health Savings Accounts or Medical Expense Reimbursement Plans.

So, while the constitutional issues may be settled, several planning challenges certainly remain. We’ll be following developments carefully in order to help you navigate these new challenges. If you have any questions, don’t hesitate to call us at 240-356-5050.

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An Accountant Doing A Marketing Workshop? Why?

Several people have asked me, “Why is an accountant presenting a marketing workshop?”.   I thought about it, said to myself, “self, that’s a good question” and decided to give an answer.   So here we go…..

I’ve seen too many small businesses fail.

Many times failing not for accounting or tax issues but for lack of marketing efforts or sales training.

Many times relying way too much on “word of mouth”.  Failure then happens when people either stop talking about you or begin to say “not so good” things about you.  In other words, you can’t rely on just one method of marketing.

Most of my accounting career has been working for or with small businesses. The majority of my current clients are small business owners.  I’ve worked with every level from the Owner to the janitor and I’ve seen how many of them prosper or fail.

Having a great vision, product or service is fine but it fails if there is no marketing or sales skills to move your vision, product or service from your hands to the marketplace.

Here are several reasons I’ve seen for business failure –

  • Trying to be everything to everybody as opposed to finding a target market.
  • No real system for tracking your outstanding sales opportunities.
  • No consistent marketing effort.
  • Always looking for new clients to the exclusion of offering more to existing clients.
  • Owner must do everything as opposed to delegating to employees, partners or interns
  • An accounting system does not exist (“I must be okay…I’ve got a little money in the bank.”
  • Lack of capital or other financial resources
  • Lack of a follow up system

Being a small business owner myself, I personally know and understand the effort it takes to keep a business running.   I’m always looking for a way to be more efficient, effective and profitable.

Over the last 19 years, I’ve studied more maketing and sales books (Zig Ziglar, Jay Abraham, Dan Kennedy, Chet Holmes, Loral Langemeier, etc.)  than my wife cares to think about and taken several sales courses as well.  (The Sandler Sales System is highly recommended.)  For any small business owner, business development officer, sales or marketing manager (they may all be you), I believe this type of study is a must or you will be left behind.

The Visions into Action Marketing Workshop is my way of giving back to my clients and potential clients.  For selfish reasons, I want to see you succeed (if you make a lot of money, you’re going to need me even more).

Furthermore, if the US Economy is to be changed for the better, its going to be on the backs of small business owners.   Small business owners drive innovations, sales, capital and employment and I want to help that effort.

So there you have it.  This is why an accountant is presenting a marketing workshop.   If you haven’t registered yet, CLICK HERE, and do so as soon as possible.  We only have room for 30 people and we are filling up quickly.  (Also you need time to do the homework I’m going to send you – remember this is a workshop!)

I look forward to seeing you on Saturday, July 7, 2012.

Feel free to comment and share.

If you’d like to contact me regarding this or other tax planning or business ideas, please give me a call at  240-356-5050 .

To Your Financial Health.

 

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You Need RICE to Build Your Business or Ministry!

From Wikipedia:

Rice is the seed of the monocot plants Oryza sativa (Asian rice) or Oryza glaberrima (African rice). As a cereal grain, it is the most important staple food for a large part of the world’s human population, especially in Asia and the West Indies. It is the grain with the second-highest worldwide production, after maize (corn), according to data for 2010.[1]

Since a large portion of maize crops are grown for purposes other than human consumption, rice is the most important grain with regard to human nutrition and caloric intake, providing more than one fifth of the calories consumed worldwide by the human species.[2]

There are many varieties of rice and culinary preferences tend to vary regionally. For example in India, there is a saying that “grains of rice should be like two brothers, close but not stuck together”[citation needed], while in the Far East there is a preference for softer, stickier varieties. Because of its importance as a staple food, rice has considerable cultural importance. For example, rice is first mentioned in the Yajur Veda and then is frequently referred to in Sanskrit texts.[citation needed] Rice is often directly associated with prosperity and fertility, therefore there is the custom of throwing rice at weddings.[3]

Okay, you ask, what does this have to do with my business or ministry?  Fair question.  The key phrase is the excerpt is “associated with prosperity and fertility.”

All businesses and ministries want to be prosperous and fertile.  In order to fulfill your vision and mission, you must have both finances and resources and these will only come through how well you interact with your marketplace.

Assuming you have a  product or service that is needed and wanted by your marketplace, here is how RICE can help you:

R is for Relationships – you must plant, cultivate, maintain and harvest as many influential relationships as possible.  Everything you want or desire will come through relationships with other people.  You must reach out, travel out into your marketplace to build these relationships.   You may first have to go to them before they will come to you.

I is for Information – you must get the information out.  Don’t hide your light under a basket.   You may be the very best at what you do but if no one knows, no one benefits. Don’t be afraid to tell people what you do and how you can help.  Always have a card and a brief “elevator pitch” ready.   You never know when someone will need what you offer.

C is for Communications – you must communicate your message over and over again.  You can’t tell your marketplace just once and expect them to remember you.   McDonald’s is recognized all over the world and yet they still are the “egg mcmuffin” of marketing.  Tell your story and how you can help again and again in different ways and means and in different places.

E is for Education – you must educate your market on why your service or product is different or better and how they will benefit from its use.    We all learn differently.  You must educate through sight, sound, touch, taste and smell in order to reach as many people as possible to tell your story.   Education is an ongoing process and you must become a great teacher.

So to keep your own “rice bowl” full, give RICE to your marketplace and they and you will both be  prosperous and fertile.

Hopefully, you find this helpful and useful.  Feel free to comment and share.

If you’d like to contact me regarding this or other tax planning or business ideas, please give me a call at 240-356-5050.

To Your Financial Health.

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How High is High?

Building Your Business – How High is High?

Your Business is doing well, right?

You’re making a profit and taking care of home, yes?

Yet there’s a nagging feeling you could be doing better.  Here’s a question – How high is high?

What I mean is..have you settled into a pocket..a groove and gotten comfortable?  Have you thought about what you can do better for your customers, prospects, employees and family?  What can you do that will impact their bottom lines and yours?  Are you being both efficient and effective?

Try this exercise – Walk into your office or your room where you work.  Look at it as if you had never seen it before.  What is your impression of your work space, your office arrangement, how your files are “filed”?

Here’s another exercise – Pretend you’re a customer.   What do you think about your customer service or your business process?  Are you happy with it?

Last one – Can you clearly write out your marketing or sales process? Could you teach it easily to a new salesperson?

These 3 exercises may have opened your eyes to the fact that you could be doing more for and with your business.   If so, take a new and excited look at your offerings and begin to see how much higher is high.

Hopefully, you’ve found this helpful.  Feel free to comment.

If you’d like to contact me regarding this or other tax planning or business ideas, please give me a call at 240-356-5050.

To Your Financial Health!

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