Mastering Business Basics

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Today, we're gonna talk about business brokers. If you've been thinking about selling your business or if you're thinking about buying a business, then this episode is made for you. Now, most business owners only sell their business once in their life. It is essentially the biggest financial transaction they're ever gonna make, and yet most of them go into it completely unprepared. 

They...

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I've been using LinkedIn for years now with little to show for my efforts.  Maybe you have to.  I listened to the so-called experts.  Get as many contacts as you can.   Make sure you post at least weekly.  Thanks to today's guest, I now have a good idea of why that effort of time was not giving me the results that I wanted.  You may be surprised on what you are wasting ...

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Building a business is a lot of work and more often than not, it involves working 60 to 80 hours a week during the first few years of starting the journey.  What is often not talked about is the stress it causes and how that effects all of the relationships with your family members - often with some very negative results.

Our guest today, Galen Wilson, is a story teller, but one that has used hi...

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One of the things that people always ask me when they're thinking of buying some property, some rental property, is should they put it in an LLC? And the first thing I tell them is, "Absolutely, you have to put it into an LLC," just for liability reasons, because people are sue-happy nowadays. You've gotta protect yourself and your personal assets. 

But what a lot of people don't realize is ...

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 Welcome to another edition of Mastering Business Basics. You know, in the last two decades that I've been doing taxes for people, one problem that always comes up once or twice or three times a year is people sit down to do their taxes, and they have this huge tax bill, and they can't figure out why. 

So I look at their W-2s and say, "Well, do you realize you didn't have any withholding?" ...

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Sometimes the best way to go about building a business is to listen to the journeys of those who have been through the process and what they have learned along the way.  Being an entrepreneur is more than just building a business, but even more so about a state of mind.

Today's guest, Lance Cayko, guides us through his journey and what it means to do it all while maintaining your perspectives of...

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Over the last few months, we've discussed a variety of things. We started out with talking about what the three pillars are to build a solid foundation under any kind of business that you want to run. we've talked about your skill sets, how to examine yourself, how to determine what skill sets you need to learn and which skill sets you need to hire out and bring into your organization. 

...

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Marketing is probably one of the most fluid and confusing parts of running a business.  One of the things that everybody's heard in the news lately is the subject of artificial intelligence, or AI, as we all know it as. But, what a lot of small business people don't realize is how that is affecting their marketing, and the statistics and analytics they get from marketing are probably going to b...

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Welcome back to Mastering Business Basics. In the last few weeks, we've talked about how to build a solid foundation under your business. And 📍 on top of that, of course, you build the structure of your business, your employees, your services, whatever it is that you are into. But at some point, you have to do a little marketing. And marketing can become a tricky business because how do you know if...

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Thankfully, tax season is over and I am back, and I'm going to talk today about something I've been wanting to talk about for a while, and I think is a very important subject. Because the statistics show that 70% of the people in this country are looking for a way to make extra money, and most of them are losing money instead. And that's a shame. 

 There's basically two ways that you can ma...

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Let’s start off with the elephant in the room: Almost nobody likes to do paperwork. Especially the business person starting out whose sole objective is to get enough clients to pay the bills.

And yet, if you truly want to Protect the Profits that your business makes from runaway expenses or getting overly taxed - then we need to talk about bookkeeping, creating reports, and hiring people - and w...

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If you are really serious about building a business to last a lifetime, it needs to be built on a solid foundation, not the shifting sands of life.  In this episode, we continue that journey with the second pillar of your foundation: Why it is important to have a basic understanding of the tax consequences of choosing the various legal formats for your business and why to know this if you are h...

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If you are really serious about building a business to last a lifetime, it needs to be built on a solid foundation, not the shifting sands of life.  In this episode, we begin that journey with the first pillar of your foundation: Why it is important to have a basic understanding of the available legal formats you have to choose from and which is better for each stage of building your business.

S...

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There's three pillars that undermine every business. I don't care if you're a small Schedule C or whether you're a huge C corporation, it doesn't matter. 

All three of these things are important. It's just the scale of them that changes. And those three pillars are your legal format, your logistical organizations, and your tax considerations. You have to know these because if you change ...

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When it comes to considering how to get your business started, there are two problems that always seem to come up.  The first for many people is what kind of business is right for me.  The second is not taking a good look at the skills every business person needs to have in their arsenal to be successful.

In this episode, I will be going over the set of skills that all of the most successfu...

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Today, I want to discuss the necessity of examining your life experiences to help you determine how to choose the right type of business for you.  After all, building a business is a huge undertaking, so wouldn’t it make sense to do something that you enjoy?

Most of us, as we go through life, realize what we like to do and what we don’t like to do.  It is a common reaction to ou...

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 This podcast is dedicated to all of the small business owners in the United States, and our mission is to help you learn the foundational aspects of properly building a business.   We also like to talk about some subjects that'll make you think, that'll examine yourself, that'll put you in the best frame of mind to build a proper business. 

 But today I want to start with discuss...