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S-Corp Officer Payroll vs Distributions

  For many small business owner-operators of s-corps, understanding the differences between officer payroll and owner/shareholder distributions can be challenging. We have coached and consulted with many small business owners where this issue has arisen. One way the issue shows itself is in a statement from the owner like “my P&L statement indicates great profits, but I have no money ...
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Time Management for Small Business Owners

“Time is money” is a familiar phrase.  Time is like money in that it is valuable and it should be budgeted, tracked and used efficiently.  Time is not like money because it can’t be saved or borrowed.  Also, everyone has the exact same amount of 24 hours per day.  You can’t save 12 hours today and have 36 hours to ...
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Innovation for Small Businesses and Organizations

Innovate – to introduce something new; to make changes in anything established, especially by introducing new methods, ideas and products. Businesses and organizations need to innovate in order to grow, remain competitive, survive and thrive. Often, innovation is only associated with wonderful technological advances with large companies such as Apple, Google, Facebook and GE to name a few. These companies ...
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Junior Achievement of Oklahoma

I recently participated in a Junior Achievement (JA) event. JA is an organization that teaches kids skills in work readiness, entrepreneurship and financial literacy. This specific event is called the JA Investor Challenge. The JA Investor Challenge is designed for high school kids to learn about the stock market through an exciting “hands-on” simulation. This gives the kids a chance ...
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The System of Business

One of the many sayings of Dr. Russell Ackoff, an organizational management expert, is “a system is not the sum of its parts, it’s about their interactions”. Business is a system. Business can generally be divided into 3 main sections: marketing & sales, operations and financials. Of course these sections have overlap and can affect each other. The main goal ...
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