V.L. Thompson's Blog, page 11

The Ins and Outs of a Business Car Lease

Article by MARCO CARBAJO from BusinessCreditBlogger.com

Are you using your personal vehicle for business purposes?

Have you considered leasing or purchasing a car in your company’s name?

In today’s post we’re going to cover the ins and outs of business car leasing. When you lease, your monthly payments are usually lower than when you buy and you get a new vehicle more often.

As with any aspect of your business and personal finances, it’s crucial to keep them completely separate. True separation includes but is not limited to banking, credit usage, expenses, purchases, travel and transportation.

First things first, if you’re using your personal vehicle for business purposes, you can deduct your business use of the vehicle. Two of the methods of calculating this are actual expenses and standard mileage deduction.



Actual expenses include depreciation, lease payments, gas, insurance, etc. The decision on which deduction you should use depends on how much you use the vehicle for business.  Consult with your tax adviser for selecting the best option for your business. Remember, business use of a vehicle is a legitimate deductible expense and should be claimed.

The fact is leasing a vehicle in your company’s name keeps your business transaction with the business. Business car leases are designed exclusively with the business owner in mind. Many business auto leasing and financing programs enable business owners to keep their personal names off of the vehicle contract and title.

Other benefits of business car leasing include:

- Building credit in the company’s name only
- Lease payment will not show up on your personal credit reports
- Added protection from liability, since business owner’s name stays off the vehicle’s title and contract
- Allows for increased cash to be invested in the business

Now remember, a business car lease will still require a personal guarantor. The guarantor on the business lease contract will be responsible for payment in the event the business defaults. If the business and guarantor refuse to pay, the default will then be reported to both the business and guarantor’s credit reports.

Prior to applying for a business car lease gather the documents you need such as business tax returns, financial statements and bank/trade references. In addition, review your company’s business credit reports & scores including your personal credit if you will be signing as the guarantor.

Read full article on BusinessCreditBlogger.com

Should I Register as a Woman-Owned Business?

Article by Bill Wortman from gosmallbiz.com

Question: What are the benefits of registering my business as a woman-owned business? How do I register on a national and state level?

As a woman, of course, if you own your business, then it is a woman-owned business; however, whether any type of minority or women-owned business certification would possibly be an advantage for your particular business will depend

on your target customers, financing requirements, and other factors. Minority and woman-owned businesses can often benefit from government or private grants, local bank and other loan programs, and government contracts (federal, state, or local), though certain qualifications and restrictions will apply. To help assess whether minority or woman-owned status will offer you any business or financial advantages or opportunities, you can review articles and information like the following:

The potential programs for minority and woman-owned businesses include grants, loans and contracts from government (federal, state, county, and city) and private sources; however, the qualifications vary. Typically, any business 51% or more owned by a minority, or a woman, is considered minority-owned in most situations; however, simply structuring a business with majority ownership in the hands of a minority or a woman often is not enough to qualify for these programs. In addition to having majority ownership, minority and women owners must have significant management authority and participate in the day-to-day operations of the business.

Also, the business will often need to certify as a disadvantaged business enterprise (DBE) in order to qualify for government contracting and other minority-owned business programs. DBE certification is a federally initiated and mandated process established to ensure that only those firms meeting the prescribed standards receive the distinction as a DBE.

While certain minority and woman-owned businesses can benefit from certification as DBEs, there is little value to becoming certified or approved by a government agency, or other party, if they do not use your products and services. For example, most “business-to-consumer”, or B2C, businesses who sell their products and services to consumers for profit typically will not benefit from DBE certification or other minority-owned business programs. In contrast, businesses that sell to other businesses or whose products or services could be utilized by government agencies can benefit from DBE certification or other minority-owned business programs. Assuming your company focuses on the business-to-business (B2B) market or intends to pursue government contracting opportunities, then structuring the business as a minority-owned enterprise and pursuing DBE certification may be beneficial.

Read full article on gosmallbiz.com

Never make little plans…

Article by Nico van der Merwe from GodBusinessLife.com drawing by BethV

“Never make little plans” were the words Anita said to me on November 25, 2009 when I shared with her what I believed God instructed me to do and that is to develop a second campus for the Eduplex. She quoted Daniel Burnham, the architect that designed Chicago after the big fire and whose words she read a mere 3 weeks before in the Chicago library.

He said “Make no little plans; they have no magic to stir men’s blood and probably themselves will not be realized. Make big plans; aim high in hope and work, remembering that a noble, logical diagram once recorded will not die, but long after we are gone be a living thing, asserting itself with ever-growing insistence. Remember that our sons and our grandsons are going to do things that would stagger us. Let your watchword be order and your beacon beauty.”

A few weeks ago the Executive Mayor of Tshwane (the greater Pretoria area) officially opened the high school and I was reminded about Anita and Burnham’s words when the guests were in awe of what God has done. How different it would have been had I acted in fear, made little plans… instead of acting in faith. Had I invested in temporary classrooms because of fear, looking at what I had, instead of constructing proper facilities in faith, we would have had nothing to show, nothing to celebrate, no magic to stir men’s blood … because it was from man. It was God that multiplied the widow’s little bit of oil, He could, and did do the same for us.

And yet, as I look at my notes over the past 4 years since November 25, 2009, I see how real the fear and panic were that I struggled with. One entry even questioned the ‘big plan’ of a second campus and whether I should not rather scale back…and make little plans. But God was gracious and gave me strength, strength to believe not in my own resources,  but in His resources!

And as I trusted Him, I was strengthened by His word…

“So now, My son, may the Lord be with you and prosper you as you do what He told you to do and build the Temple of the Lord…..Be strong and courageous, fearless and enthusiastic! (1 Chronicles 22:11+13) 

“Be strong and courageous and get to work. Don’t be frightened by the size of the task, for the Lord your my God is with you; He will not forsake you. He will see to it that everything is finished correctly”. (1 Chronicles 28:20)

“…the work ahead of him is enormous; for the temple he will build is not just another building – it is for the Lord God himself! (1 Chronicles 29:1b)

“Not by might, nor by power, but by my Spirit, says the Lord Almighty – you will succeed because of my Spirit, though you are few and weak. Therefore no mountain, however high, can stand before Zerubbabel! For it will flatten out before him! (Zechariah 4:6+7)

If you have been following my blogs you will know that this verse weaves like a golden thread throughout the history of the Eduplex and God continues to remind me of it. In addition, it continues to be a very strong warning that I should not try to part the waters of the Red Sea (try to do the impossible) in my own strength because it will fail. I should rather leave it to God. He can make the impossible, possible.

God knows my strengths, but He knows my weaknesses even better. I can “make things happen” and this strength has over the years mostly become a severe weakness as I catch myself relying on my own ability, my own resources and slowly moving away from complete trust in God….and then? Then fear sets in at the first hurdle that I encounter. I am reminded of the words that ‘unguarded strengths can become a double weakness’ and how true this is in my own life.    

Read full article on GodBusinessLife.com

Small Business Loan Alternatives

Article by Micah Kinsler from SmallBizBee.com

Time and money are common challenges for different companies. A business loan is an effective way to grow your company in ways not otherwise possible.

This includes direct and indirect benefits. A restaurant can buy equipment to produce more food at a lower cost. Meanwhile, the depreciation expense of new machines is a write off that boosts your bottom line.

Sounds great, but your financing choices may be limited by these factors:

Business or Personal Credit: Startups and established businesses alike have limited credit histories. Those with strong FICOs may qualify, but will mingle business and personal matters. Sole props require strong personal credit.

Income: 2 years of tax returns with net profits are strongly preferred by most lenders.

Collateral: Machinery, real estate and cash reserves are preferred to tables or chairs. Many startups are in high tech, retail or food service industries with limited collateral.

Industry: Restaurants, construction, bars and medical offices are seen as high risk by many banks. Owners must have particularly strong credit, income and collateral in these industries.

Has your business been denied credit for any of these reasons? Thankfully, there are several alternatives.

Here are choices for short or long term financing:

EQUIPMENT LOANS:

Builds Business Credit? Yes

An equipment loan allows you to buy or lease machinery. Collateral is easy to determine and your industry is not a factor. With specific collateral, the lender will focus on your ability to repay in terms of the equipment alone.

Major banks and specialty companies each offer equipment loans. These lenders have close relationships with manufacturers that can expedite approval. You may also have trade in options as technology changes.

Tip: Work with your CPA to manage capital equipment. Older machines no longer have a ‘useful life’ in accounting terms. Conversely, the depreciation expense of new equipment may be a tax write off.

A/R FINANCING:

Builds Business Credit? No

Accounts receivable may affect your ability to meet payroll, utilities and other expenses. For quick cash, you can sell A/R for a discount percentage. Receivables from larger companies are typically more attractive than individual accounts.

You can also use A/R financing as leverage. A doctor’s office may sell pending payments from insurance companies to capitalize on discounts for new technology or billing software.

Tip: Focus on selling A/R with higher profit margins. In basic terms, selling invoices with a 20% margin at 85 cents of the dollar still results in a 5% net.

Read full article on SmallBizBee.com

The Conflict Between Role And Soul: Are You Driving Or Being Driven?

Article from EmploymentCrossing.com

Many of us find it difficult to stay clear of jobs and activities we shouldn’t do or shouldn’t even think about, because strong external forces may be shoving us in the wrong direction. In their struggle to “know themselves,” people often can’t distinguish between their “soul”, the traits and preferences that define their basic temperament and their “role”, that’s all the other outside factors that impinge on their judgment.

What results is the classic recipe for career unrest: in an effort to please parents, spouses and peers, to live up to socioeconomic expectations and myths, to try to copy the successes of others, or to generally remain “above reproach,” people choose careers that are strikingly at odds with their essential nature, often without knowing they’re doing it. Unless we’re gifted with world-class objectivity, we find it hard to distinguish what we really want from what we think we ought to want, from what others tell us we should want, and from what’s realistic to want. Is it any wonder that, when trying to figure ourselves out and set career objectives and priorities, we can’t tell whether we’re driving or being driven?

It is of the utmost importance that you define your most marketable skills, experiences, personal qualities, temperamental traits and other positive factors to attract employer interest. When both networking and interviewing, you must be focused, succinct and better than your competitors in highlighting your positive features. A good self-assessment will clarify what you have to sell.

However, as long as you’re completing this self-scrutiny, it behooves you to have an honest, objective look at the “dark side of the moon,” that is, to confront your vulnerable soft spots, aversions, deficits and areas of rigidity or inflexibility. It’s unpleasant to catalog things or situations that make you uncomfortable; it’s tough to confess that you’re an imperfect creature. Nonetheless, these factors are an integral part of your vocational profile, and you don’t make them disappear by ignoring them.

In figuring out “what to buy” in your career-as opposed to looking solely at what you can sell, understand the difference between motivations and compensations. Motivation is positive, active energy composed of raw, primary enthusiasm. It’s gasoline thrown on the fire. It’s up, forward, wanting more; it’s fun.

Compensations represent the flip side. They’re the accommodations you make to stay away from pain and vulnerability, to circumvent your demons and shortcomings, and to incorporate your glitches and blips into a life- and work-style that don’t make you miserable. When psychologists speak of someone being “well compensated,” they’re not talking about making the big bucks; they’re describing someone who’s able to integrate his strengths and weaknesses into an operative style and a set of life choices that free him up to pursue his motivations.

A fundamental principle here is worth emphasizing: You cannot consistently tap into the energy provided by your sources of motivation until you’ve first addressed those areas and issues that require compensation.

Indeed, we have a label for people who display enormous energy directed primarily at compensation. We call them driven, and behind their backs we agree that they aren’t having much fun.

Understanding your soft spots and incorporating them into the product you want to sell to employers doesn’t mean that you must don a hair shirt, stake yourself out in the noonday sun and proclaim to the world, “I’m defective, unworthy and weak.” Make that approach the basis of your networking and no one in his right mind will refer you to any further contacts.

Personal qualities are neither bad nor good per se. They’re simply functional or dysfunctional, depending on the context in which they emerge. A strength in one setting often is a deficit in another. A person might be labeled by a critic as “unassertive, disorganized, not detail-oriented, vague, abstract and impulsive and by a fan as “consensus-building, flexible, not hung up on trivia, visionary, creative and spontaneous.” Beauty is in the eye of the beholder.

Instead of worrying about labels, think instead about what your temperamental qualities imply in terms of the kind of role you want and could work in comfortably. When you hold a mirror of truth up to yourself, you may want to do some relabeling to make the glass half full rather than half empty. That’s okay.

The idea isn’t to kid yourself or paint everything with a rose-colored brush. Describe your attributes neutrally and objectively so that you can use them to determine whether a particular job is a good fit. Shy away from yourself (its called denial) at this crucial point, and you’ll get what you deserve: a job or career where you’re always striving to compensate and where your motivations seem to go forever unsatisfied.

Let’s say you’ve worked through a diligent, realistic self-assessment. You’ve cataloged your skills, abilities, hot buttons and blind spots and written then down. Now, when you hear the request, “Tell me about yourself,” you’re armed and ready.

But all this assessment has taken place behind closed doors. You’re now filled with insight and self-awareness; it’s time to face the final challenge, open up the hangar doors, wheel your product profile out into the sunlight, and see whether you can articulate it succinctly and confidently to someone else. Your final step is to pull all this information together into a short, coherent, interesting and memorable narrative, and practice delivering it calmly and confidently on demand.

 

Read full article on EmploymentCrossing.com

5 Simple Ways to Keep Your Business from Burning Out

Article by DEBORAH SWEENEY from noobpreneur.com

There’s good reason why most businesses get compared to well-oiled machines. When they’re at their most successful, they’re chugging along at full speed ahead, but just like any machine they still need the occasional maintenance check to keep things running smoothly. But most importantly, a well-oiled machine needs all hands on deck.

For a business to be successful, every department and every role needs to be working towards the same goal: the betterment and growth of the business.

Next time you feel like your machine is running low on steam, use these tips to get your company back on its productive track again!

Get on top of marketing trends

Social media is the most major part of business marketing that is an ever-growing and ever-changing medium. The only way to be on top of social media trends as they change is to constantly be immersed in that world.

If your brand has company accounts on platforms like Facebook, Twitter, Instagram, and Pinterest, don’t let these pages go dormant for days at a time. Post a status sharing an update from your company blog, tweet with a follower who declares how much of a fan of your product they are, and continue to grow and learn as the sites themselves grow and develop into better services.

Never allow your customer service to slip

Providing your customers with exemplary service is of the utmost importance for any brand. If your customer service starts slipping, your business’s reputation and the word of mouth surrounding it will also start to decline.

Creating a friendly, helpful, and memorable experience for your customers keeps them coming back and recommending you to their friends. Whatever personal issues you may have, leave them at the door for the day and focus on ensuring that the customer is taken care of the way you’d want to be treated.

Reward awesome employee behavior

To keep your team feeling passionate about the work they do, be sure to recognize those employees who go above and beyond their typical workload. This doesn’t mean you need to give out huge raises for every new initiative undertaken, but simple tokens of gratitude, like giving a Starbucks gift card to the top sales associate for the week, is a nice gesture to show that you appreciate all the hard work they’re doing. You can also reward group behavior if an entire department works together to produce seriously incredible results.

Make it known what your goal is for the month, and if the goal is hit, reward the whole office with a catered lunch or a half-day from work!

Read full article on noobpreneur.com

5 Ways to Get Real Profits Out of Your Balance Sheet

Article by Gene Siciliano from SmallBusinessAdvocate.com

Do you want to have more financial control of your company? Of course you do, or you wouldn’t be reading my posts. But let’s be clear: this is not an attempt to make you into your own controller. We have people who do that for you. Rather, whether your role is CEO, President, owner/operator, senior executive or advisor, if you have some responsibility for guiding a profit-making enterprise, this is for you.

In fact, this is about the opportunity to assess your company’s financial health as you set goals for the balance of this year and next. The premise: The health of your company today is not determined by last year’s profit or last year’s sales. It’s determined by how well you are positioned to make your assets produce a profit for you today and tomorrow. And that is best determined by looking at those assets themselves, and the related liabilities, to try to predict the kinds of challenges you’ll face as the economy recovers oh, so slowly. In other words, let’s look at your Balance Sheet.

Your company’s balance sheet is that financial report frequently overlooked as CEOs scan ahead to see the bottom line number on the income statement. It’s the report many CEOs only look at when their banker asks questions about it. But there is a wealth of information in that one-pager, a host of opportunities to improve your business, and your future net worth, by reviewing and fixing some of the anomalies that may show up on your balance sheet – anomalies that sooner or later will show up on your income statement and in your bank account. Here is Tip #1, the first of five tips I’ve selected to help you understand the power of this strategy:

Tip #1

Quick Ratio: Your company’s current assets minus inventories divided by current liabilities. Does your Quick Ratio indicate you may have loaned too much money to slow paying customers? If you don’t have $1.50 to $2.00 in current assets for every $1.00 of current liabilities, you may be doing more scrambling for cash than you need to. Speeding up collections is often the simplest and easiest way to raise your cash balance and free up cash for reinvesting in the business. Ask us for our 5 tips for increasing collections without mutually painful arm-twisting or damaging the customer relationship.

Tip #2:

The relationship between Accounts Receivable and Accounts Payable: There should be a substantial difference between accounts receivable and accounts payable, at least in part because your A/R contains a profit margin while your A/P is pure cost. That’s an admitted oversimplification since your labor costs are typically also in A/R but not A/P, but it’s a very quick way to see if your working capital is out of balance. I think your A/R should be at least double your A/P. Yet if you are paying your creditors promptly but not collecting from your customers with equal promptness, the ratio may look great but in fact you’ve created an imbalance that can starve the business. Consider also stretching your payments to suppliers a bit to narrow the gap. Ask us about the concept of “Natural Payment Terms” if you’re not sure how to do this.

Tip #3:

Inventory Turnover: Average Annual Cost of Goods Sold divided by Average Inventory. A major element of working capital for many companies is inventory – the stuff you make or buy, or both, to resell to your customers. Does the amount invested in your inventory– even after you write off the slow moving stuff you should have written off years ago – take up too much of your balance sheet? How can you tell? Look at a ratio called Inventory Turnover, i.e., how many times a year does your inventory completely replaces itself. Better yet, do that for each individual high value or low shelf life product you sell. Then compare turnover with the average shelf life of that product, e.g., if your inventory turns over twice a year and the product is replaced with a new version every two years, you are letting ¼ of the product life sit on your shelf tying up cash. Ask us about an inventory control system that will prevent a situation like this from happening.

Tip #4:

Your equipment: fixed assets, machinery, vehicles, computers, etc. A quick look at the cost of all that equipment compared to the accumulated depreciation, also on your balance sheet, will show you its “Net Book Value (“NBV”).” In other words, how much is left to depreciate before those assets have been written off the books and in theory used up.

 

Read full article on SmallBusinessAdvocate.com

Practical Strategies for Inspiring Your Inner Maverick

Article by Kent Healy from SmallBusinessAdvocate.com

The common denominator among successful entrepreneurs is their ability to execute ideas. But the very best entrepreneurs become great by dreaming up great ideas to execute.

Great ideas are not a matter of genius, only perspective. When it comes to innovation, there is an important insight to understand: perception is both the problem and the opportunity. We all live in the same world, yet see it very differently. Solutions and opportunities are both buried and unearthed by perspective alone. Too often entrepreneurs obsess about the gargantuan task of changing reality when change actually begins by changing our perception of reality.

In the world of entrepreneurship, creativity is currency. Solving problems, developing the next great product or service, and improving daily business processes is absolutely critical. Those who do this well are considered to be on “the cutting edge.”

These creative entrepreneurs bring a new perspective to a longstanding reality that others have declared permanent and unchangeable. Entrepreneurship, leadership, success, and innovation all begin as a mind-set, not a skill-set. Creativity requires rethinking, relearning, and risk-taking.

So here are three practical ways to inspire your inner-Maverick:

1. Let go of the current model.

Our creativity depends largely on how we have learned to view and interpret ourselves, others, and the world around us. Looking at the world through a common and recurring lens merely confirms prior assumptions. In other words, what we think we know about the world influences our perception of the world, more than the world itself. This is why one of the greatest challenges to any innovator is presenting the current circumstances in such a way that will allow for a new perspective that may lead to a new solution.

 

2. Ask a new question.

Few techniques have the ability to change our focus of attention faster than questions. The right questions can force our minds to examine our assumptions and seek new information. Some productive questions include:

- What is great about this that I haven’t noticed yet?
- If I weren’t attached the outcome, what would I do?
- What would the result be if I assumed the opposite?
- What would the result be if I did the opposite?
- Is this the only or best way to accomplish this?
- Is it possible that I am missing information that no one knows exists?
- Why?
- Why not?
- How would ____ [insert name of creative role model] view/handle this situation?

In short, constructive questions create a starting point that may help to reveal new alternatives. This can’t be overstated when we acknowledge that we can’t take advantage of what we don’t know exists.

 

3. Experiment and take risks.

The current circumstances have set the stage perfectly for the Maverick’s era, whereby thinking different is not only wise, but necessary. Originality and creativity are rewarded, and Maverick thinkers are cashing in by poking and prodding at the status quo; acting on hunches and experimenting with “little bets” that change the game itself. There is immense value in being able to think and act independently in a world of conformity and convention.

Read full article on SmallBusinessAdvocate.com

The Power of Appreciation

Article by Steven Gaffney from SmallBusinessAdvocate.com

My grandfather lived in a nursing home during the last several years of his life. During one of my visits to see him, a nurse pulled me aside and told me what a great man my grandfather was. I appreciated that and asked her why she thought so. She said, “He is one of the only people here who consistently says thank you.” That’s the power of thank you. They may be just two words in the English language, but those words mean so much to so many people. To this nurse, they meant everything.

Thank you. How often do your employees or coworkers hear those words? Many work extra hours, often for no additional money or benefit, and often without the benefit of hearing someone say thank you. Why do they do it? Because, like you, they want to make a difference in their jobs, and they want to contribute. In fact, through conducting seminars, I have learned that one of the biggest fears that people seem to have in common is the fear of dying without making a difference. We all want to know that our lives count, and we need to feel like we matter to someone. That’s what makes appreciation so powerful.

In fact, appreciation is so powerful that it affects the bottom line. People who feel valued and appreciated are more likely to remain in their jobs, making appreciation a key factor in employee retention. Furthermore, sincere expressions of appreciation open the lines of communication and improve teamwork because people tend to be more open with co-workers who appreciate the job they do. This makes people more likely to express ideas and feedback, which also positively affects the bottom line.

As managers and co-workers we often need to share difficult feedback and constructive criticism. But how often do we share positive feedback – praise for a job well done? I’m not talking about employee awards. Those have their place, but I’m talking about words. “Thank you, that was just what I was looking for.” “Thanks for the extra time that you put into this. I know you had to sacrifice some personal time.”

I heard from an employee of a Fortune 500 company who was recently nominated by her team for a formal award. She appreciates the nomination – particularly that the entire company received the text of her nomination. She said, “The public nature of it was quite validating. It doesn’t even matter if I receive the formal award. The initial nomination is enough. It makes me want to work harder and motivates me to want to invest myself more fully in what I do.” But she went on to say this: “Receiving acknowledgement from people throughout the year, in a less formal way, helps me to get through each day in a way that no amount of money could.”

When you express your appreciation, you are basically saying, “I notice you. You are important. You are significant. You are making a difference.” Acknowledging others comes with wonderful benefits. When we express appreciation, we have to think positively, at least for that moment. The more we acknowledge and appreciate others, the more positive moments we have. Over time, that makes us feel better about those around us and about ourselves.

Developing an organizational culture of appreciation may sound like a lofty goal, but it’s worth the effort. Once it gets going, appreciation is contagious. It creates positive feelings in the person saying thanks and in the one receiving it.

Do you know anyone who has ever left a job (or a relationship) because they received too much appreciation? Of course not! Now think about the people you know who have left jobs – despite a good salary and benefits – because they didn’t feel appreciated for the work they did or failed to see how they made a difference. Managers often think a salary increase is what employees value most – and for some that may be the case – but for most, receiving appreciation is even more important.

Four Keys to Effective Appreciation

To ensure that your expressions of praise and appreciation have a significant impact, remember these four keys: ISOS:

I = Immediate

Express your appreciation immediately, even if it is over the phone or via e-mail. Often we want to do something special to show our appreciation, but that can take time. It’s important to act quickly, even if it is a small token gesture. You can always do more later. If you don’t do something immediately, the person you appreciate may feel unappreciated. Seize the moment. Do it right away.

S = Specific

Make the acknowledgement specific. Rather than saying, “Thanks for all your help,” say, “Thanks for the detail you put into the report. It obviously took a tremendous amount of time and dedication.” Being specific adds importance and validity to the appreciation.

O = Often

Few people have ever suffered from too much appreciation, but many enough. Don’t be stingy. Offer it frequently, appropriately, and creatively.

S = Sincere

Say it only if you mean it. People are smart, and they can tell if you are faking it. A sincere expression of appreciation that comes from the heart is a powerful motivator.

Make It a Habit

There’s an exercise I sometimes do with my seminar attendees to help them practice the power of appreciation. I ask everyone to write down sincere compliments and “thank yous” for their co-workers.

Read full article on SmallBusinessAdvocate.com

The Biggest Financial Mistake

Article by  from Boundless.org

How to follow all the rules but miss what matters most

A few years ago, I bought a new car — a new used car, that is. When I found it, I couldn’t believe my luck. It was exactly what I had been looking for — a silver Subaru with four-wheel drive, low miles, and a roof rack for that kayak I would buy someday. The little car was in mint condition. Whoever owned it before me had taken immaculate care — inside and out. If the odometer didn’t tell me otherwise, I would have believed the car was brand new.

For about two weeks after signing the papers, my life was warmed by the fleeting glow of happiness that comes with having a new car. I didn’t mind my sometimes-painful commute to work; I volunteered to drive when friends wanted to go out; and I would take the long, scenic route when I needed to run errands.

But then it happened.

On a Saturday morning, I walked out to my car, only to discover a dent the size of a basketball in the rear bumper. Someone had hit my Subaru and left without so much as a note of apology. I was livid.

More Than a Broken Bumper

I called the police, and they sent someone out that morning. I told the officer he needed to call for backup so they could analyze nearby tire tracks, tap into the security cameras of nearby stores and ATMs, and use blue lights to look for evidence like they do on “C.S.I.” The officer just smiled and handed me a copy of his report. He told me there was nothing more he could do, and then he left.

For the next few days, I told everyone my story as if it were the greatest injustice ever endured by one of God’s creatures. And the more I told the story, the more I felt justified in my anger. But then Jean, a longtime family friend, took me aside and made me see how childish I was being. “Does the car still run?” she asked. It did. “Does the dent affect the way it drives or make the car less safe in any way?” It didn’t. “Then stop your whining. It’s God’s car, and if He wants a dent in it, who are you to argue with Him?”

In a little while, I realized my blunt but godly friend was right. It isn’t wrong to have a car I enjoy, and it isn’t wrong to be upset (for a short while) that someone had damaged my property without taking responsibility. But it was wrong to hold up my shiny, new car with such esteem. I had been enjoying the gift more than the Giver.

In 1 Timothy, Paul writes, “For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs” (6:10, ESV). I’ve never considered myself someone who loves money. But love of money is a reflection of more than the bottom line on a bank statement or the number of green bills in a wallet. Love of money is a worship problem — a dysfunction of the heart — and it rears its ugliness in a number of devilish ways.

I wasn’t able to self-diagnose the worship problem in my heart because I hadn’t broken any of the rules. I hadn’t stolen the car or cheated anyone to get it, nor had I bought something out of my price range. By all accounts, I had obeyed the financial principles I had learned from the Bible; I was being a good steward with what God had entrusted to me. But when it comes to heart problems, our ability to follow the rules is seldom a good indicator.

It wasn’t until the day I discovered the crater in the back of my Subaru that I could see the sin I had allowed to fester in my heart. That dent may have been a sin on the part of the stranger who hit my car and took off, but it was used by God to show me the worship problem I had developed.

What We Give to Jesus

Since that time, I’ve thought a lot about how God would have me handle the money and possessions I’ve been given. A few months after the incident with my Subaru, I heard a sermon on Jesus’ encounter with the rich, young ruler. The pastor read through Mark’s account until the part where Jesus tells the man, “Sell all that you have and give to the poor” (Mark 10:21). Then, almost as a parenthetical word of comfort, the preacher added, “Of course, Jesus doesn’t ask us to do something this radical today.”

But is that really true? How do we know Jesus isn’t calling at least some of us to give away all our stuff — to embrace poverty — in order to follow Him? How would any of us be prepared to go to the mission field or to live a life of radical generosity if we’re not willing to embrace the idea that everything we own really belongs to Jesus?

While it may be true that this one man — this rich, young ruler — is the only person whom Jesus required to sell everything (at least as far as Scripture reports), I don’t think Jesus was having a bad day or exacting some special measure of holiness from this would-be follower. I think Jesus was showing us the Father’s heart. That’s why Mark makes sure to tell us, “Jesus . . . loved him” (10:21). He loved him enough to confront the man’s worship problem head on.

When it comes to our financial decisions, there is wisdom in seeking out and obeying the Bible’s principles for money management, but principles alone will only create rules for living; they won’t penetrate down to our hearts. In Jesus’ day, the best rule keepers were the Pharisees, but time and time again, they were shown to be the people farthest from God’s heart. Jesus said to them, “But woe to you Pharisees! For you tithe mint and rue and every herb, and neglect justice and the love of God. These you ought to have done, without neglecting the others” (Luke 11:42).

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