head shot of main better business— the easier way” w of to ...engle/... · but we want to give...

November 2016

ANY QUESTION? WANT HELP? NEED SUPPORT? CALL THE TEAM ON: 817-698-9988

Welcome to the very irstissue of our ‘Build ABetter Business’ CustomerNewsletter. The goal of ourmonthlynewsletter issimple…to help you build a betterbusiness. Yes, we’reaccountants, but we’re alsoexperts in helping people togrowtheirbusinesses.

Remember, we’re businessowners too. We understand thechallengesyouface,theproblemsyou encounter and the day‐to‐day realities of running abusiness. It’s NOT easy andanyonewhosays it is,haseitherneverranabusinessbeforeorisjustoneofthefewluckyones!

We believe there are just threecore components of anybusiness—PROCESS (how youdeliveryourproductorservicetothe customer), MANAGEMENT(thisincludestheaccountingandbookkeeping, administration andstaf ing) and MARKETING (how

you acquireand retain customers). We’lldiscussvariousbestpracticeandadvancedtechniquesacrosseachof the three disciplinesthroughout each issue of TheBusiness Builder. Plus, I’mdelighted to announce that eachmonthSteveHackney,oneof theworld’s leading business growthexperts, will provide one hardhitting article on strategies tohelp you grow your business. Inthis issue he talks about theimportance of managing yourtime to get huge productivitygains—thisisfascinating!

So we promise to ill each issuewith great content that will beeasy to apply to your business.But we want to give you morethanthat.Wealsowanttohaveabitoffuntoo,sowe’llalsoincludepuzzles, cryptic questions,cartoons (making fun ofourselvesinthemain!)and

continuedonpage2…

“How To Build A Better Business—The Easier Way”

Headshotofmainpartner/director

KenEngle,CPA

“Happyarethosewhodreamdreamsandarereadytopaythepricetomakethem

cometrue.”LeonJ.Suenes

P1: Thought Of The Month

How To Build A Better Business—The

Easier Way

P2: Why Growth STOPS

P3: Dumb Criminals

P5: Time Management

P6: Brain Tracker

P8: Bet You Didn’t Know

Why Businesses Stop Growing And

What You Can Do About It

This Month’s Incredible Dumb Criminals

True Story

5 Simple Time Management Strategies

To Increase Productivity & Growth

Pit Your Wits Against This Month’s Brain

Tracker Challenge


Continuedfrompage1...

other interesting stuff (like our‘DumbCriminals’sectiononpage3and‘BrainTracker’onpage7).Running a business is tough, sosome light‐hearted pieces I’msurewillmakeyousmiletoo.

We want this to be yournewsletter,sopleaseletusknowif there is anything in particularyou want us to cover. And we’llplanitinforafutureissue.

And inally…

Ijustwanttosaythatduringthelast few years, it’s clear thathaving a successful business isabout making sure you dedicatetime,energyandeffortintothe3components I mentioned earlierandanothervitalingredient…

...having a great team to supportyou. That means your staff andyourbusinessadvisors.

Having a great support teamaround you gives you a ‘comfortblanket’ and a protective shieldwhichwill serveyouwellduringthegrowthofyourbusiness.

Enjoy!KE

To understand why growthslows or stagnates in any

business, we irst need to look athowatypicalbusinessevolvesandwhythefrustrationstartstomountas this growth slows.We call thisthe‘GrowthRoller‐Coaster’.

Take a look at the illustrationbelow. The starting point is thebeginning of a business, usuallycreated by a sole proprietor or asmall partnership/directorship.Typically, the owners are veryhands‐on at this stagewith few, ifany,staffandmodestresources.Inthe early months and years thebusinessgrowsverywell.

Customersreceiveahighdegreeofdirector attentionwith high levelsofexpertiseandcustomer‐careasaresult. Costs in the modestoperation are relatively low andthe business can respond quicklytocustomerandmarketneeds.

Word is spread by customers andreferrers about the great, cost‐

effective products or services andnewbusiness is easily gained.Thebusinessquicklyexpandstoapeakat point A, driven by thepersonalities and skills of itsowners.

In an ideal world, two conditionswill now be met. Firstly, thedirectors will recognise that theyhave reached the pinnacle for apersonality‐driven business andsecondly, the business andinancial performance will be at alevel that completely satis iesthem.Inreality,neitheristhecase.

Whathappens in the realworld isthat the owners continue to driveforward. However, with growthproblemsmaterialise…

Staffandresourcelevelshavebeenincreased to serve the growingcustomer base, increasing costsand tying up director time. Theowners themselves come underincreasing time pressure, beingtorn between customer, staff and

“Havingagreatsupportteamaroundyouisvitalinthisneweconomy”

Why Businesses STOP Growing

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business needs. Falling servicelevels and rising costs see thegrowth constricted anddissatisfactionaroundthebusinessgrowsinitsplace.

Have you ever heard yourself or acolleague say, “This was so mucheasierintheearlydays!”

Nowtheowners indthemselvesatpointC.Rightnow,youarelikelytobeatsomepointbetweenAandC.

Reality has dawned and thebusinessisatacrossroads.

Doyouremainapersonality‐drivenbusiness and attempt to clawyourwaybacktopointAbydownsizing,culling customers and laying offstaffand tryandraisepointA toahigherpoint?

Or, do you undertake theinvestment (mostly in time andeffort) required to move forwardand become a systems‐basedbusiness at point C. I guess asyou’retakingthiscourse,it’shighlylikely this is what you want toachieve.

Interestinglybothtypesofbusinesscan be successful with the rightplanningandmanagement.But,toomany businesses ind themselvesfalling into the trough in betweensimply because they’ve didn’tconsider early enough what theirfundamental strategies and goalsshouldbe.

Instead emphasis is placed on theprocess functions of the businesslike, delivering the product orservice and support to customers

and essential marketing andmanagement of the business isoverlooked. Growth, consequently,islimited.

Let’s look then at the high‐levelview of your business (which canbe any business). As I mentionedearlier, it has three keycomponents…

1.Process

The mechanics by which anybusiness ‘produces’ its saleableproducts or services. This is howyougenerateincome.

2.Marketing

The generation of new customers,theretentionofexistingcustomersand the maximisation of customervalue.Thisishowyouacquireandretain customers and this coursefocuses on this particularcomponent.

3.Management

The running of the business – itsperformance management,strategies and goals aswell as theinancial management of yourbusiness(wherewecomein!).Thisis where you generate pro it andwealth.

When a business is growingsteadily and reaching the owner‐managers’ objectives, the 3functionsworktogethertocreateaharmonious cycle (see diagram onpage 4). In reality, themajority ofpeople in business are taughtprocess skills from school days,through skills training and

onwards. We are taught how toread and write. How to followinstructions andanswerquestions.How to replicate what we learn.Youdevelopexpertiseinhowtodo‘things’.

Inotherwords,yourexpertise

continuedonpage4...


Dumb Criminals

So, it’s been made understoodthatmenonlywantonething…anice,red,juicy…steak.Andsomewillstopatnothingtogetone.Ina mad attempt to create aromanticdinner forhimandhislucky(youbethe judgeof that!)lady,amaninFloridashopliftedfour steaks and a couple ofcandles. But being the uttergenius, he hid them in… his…pants. According to Huf ingtonPost, he tried to run away afterbeing caught by an employee.Just one more reason to govegan!

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and skills invariably lie in thePROCESS function. Consequently,with the skills and knowledgeloaded towards the Processfunction,businessescanonlygrowwhilst there is capacity within theProcess function to do so. Butwithout the same relativedevelopment in the managementand in particular marketingfunctions either side, growthbecomes limited… The cycle nowstarts to look very different (seediagrambelow).

Sothesolutionissimple…Youneedtostartputtingmoreeffortintothemarketing and managementfunctionsofthebusinesstorealignthebalance.

This doesn’tmean you neglect theprocess function. It justmeansyouwork smarter and allocate yourtime and effort better to includethese two crucial areas of yourbusiness.

So, there is little doubt as to whymostbusinessesdonotachievethegrowth objectives the directors orpartnershaveset andwhynow isthe time to make the transitionfrom a process‐led business to amanagement‐ and, in particular, amarketing‐ledbusiness.Ourgoalisfor you to have a systems‐basedbusiness that’s set up to achieveyour objectives. In each issue ofthisnewsletter,we’lldoourbesttogive you everything you need inordertoachievethisgoal.


Howyourbusinesslookswhenthingsaregoingwell(growthperiod)

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Onethingthatconstantlyamazesmeishow quickly each year passes. Thedays, weeks and months seem to rollinto one, and before you know it 6months has passed. You’re leftwondering‘wheredidthetimego?’Now that’s okay as long as you planyour year out. However, most peoplespend more time planning theirholidays than planning THEIR YEARAHEAD.Ifyouplan ‐yougetmoredone,muchmore done. If you fail to plan and setgoals it’s surprising how little you’llaccomplish.All thehigh achievers andsuccessful people in this worldidentify planning and goal‐setting as amajor contributor to their success.Why? Because in addition to givingthem a clear roadmap, it also helpsthemplan theirdaily/weekly/monthlyschedules and with effectivemanagementoftimeitenablesthemtogetahugeamountofworkdone.

For example, many people who haveobservedmewill say ‘howdoes Stevegetsomuchdone?’It’strue,Igetmoredoneinadaythanmostdoinaweek.Ittakes discipline, but there are someproven tricks and strategies I use toachieveveryhighlevelsofproductivityand that’s what I want to talk to youabouttoday.Effective time management issomething that isn’t often associatedwith growing a business, but effectivemanagement of your time is a verypotent weapon (and conversely poormanagement of time can be a realbusiness growth inhibitor). The goodnews is that it’s not that dif icult tomassively improve your output if youfollow my simple ‘5 Key TimeManagement Tips For HighPerformers’. Like everything I willdiscuss with you in this newsletter,noneofthesethingsaredif icultoreven earth‐shattering, but they domakeasigni icantdifferenceaslongasyou start using them! So here are mykeyTimeManagementTips…1. Planning: Plan each month andthen each week and then each daybasedonyourgoals.Thekeyhereistoestablish what you need to do eachmonth to accomplish your goals. Thenbreak these tasksdowntoweeklyandthen daily tasks. You must alwaysprioritise these ‘goal orientated tasks’above‘generaltasks’.You’re probably thinking—this willtake a lot of thought and time to planout.You’reright.Itdoes.That’swhyso

continuedonpage7…

“5 Simple Time Management Strategies To Increase Productivity

& Accelerate Your Growth”

1. Johnny’s mother had threechildren. The irst child wasnamed April. The second childwas named May. What was thethirdchild’sname?

2.Aclerkatabutchershopstandsivefeetteninchestallandwearssize 13 sneakers. What does heweigh?

3. Before Mt. Everest wasdiscovered,whatwas the highestmountainintheworld?

4.Howmuchdirtisthereinaholethat measures two feet by threefeetbyfourfeet?

5. What word in the Englishlanguage is always spelledincorrectly?

ANSWERSONPAGE6

SteveHackney—Helpingyoutoquicklygrowyourbusiness

5

Cryptic Puzzle Of The Month


Using the BrainTracker gridbelow, how many words canyou ind? Each word mustcontain the central F and noletter can be used twice,however, the letters do nothave to be connected. Propernouns are not allowed,however, plurals are. Can youindthenineletterword?

Excellent: 28 words. Good: 22words.Average:19words.

Brain Tracker: How Many Words Can You Find?

6

F I

U A

E

T

U B

L

“Ken Engle and his staff havebecome like family tome. Theycareaboutmysuccess.”MichelleRealEstate

“I have been using Ken and hisstaff for several years andappreciate the dedication toservingmy particular business’sneeds. This isn't a cookie cutteroperation like so many other

CPAservices.Icansitdownwiththem and tell themwhat I needandtheywilleithertellmethatitcan or can't be done. I alsoappreciateknowingthattheyarejust a phone call away if I haveanyquestions..”RobertHealthcareServices

“Have worked with Ken for thepast25yearsandhehasdoneanexcellent job in inancialreporting and taxes for fourcorporations including the saleof two corporations and theasset sale and closure of onecorporation as well as thepersonal and proprietorshiptaxes.Ascanbeseenthereisnotmuchthathasn’tbeencoveredinthepast25years.”JimEngineer,Manufacturer

“Ken I really appreciate all yourhardwork.Youandyourpeoplehave saved us a lot ofmoney intaxes. Thanks to you and yourstaff, we can inally get ourbusinessbackontrack.”ChadSecurityParts&Services

Weareexpertsathelpingourclientsinanciallymanageandgrowtheir

business!

What Clients Say About Ken Engle, CPA

“They care about my success”

“Excellent Job for 25 Years”

“Saved us a lot of money in taxes”

“Appreciate the Dedication”

CRYPTIC PUZZLE ANSWERS

1.Johnny.2.Meat.3.Mt.Everest.Itjustwasn’tdiscov‐eredyet.4.Thereisnodirtinahole.5.Incorrectly(exceptwhenitisspelledincorrecktly).


few people do it. That’s why so fewpeoplesucceedinlife.Do not underestimate the power ofcarrying out this irst step—it is thekeytoyoursuccess.2. Work During Your HighPerformanceTimes: You’ll get muchmoredoneintimeswhenyourbodyisalert andactive. Formany this time is6am‐1pm and 8pm‐11pm (but you’llknowwhen you’re at your best). Theworst times aregenerally after eating!It’s during these high performancetimes you should carry out your ‘GoalOrientated Tasks’. This one step alonewill improve your outputsigni icantly—so make sure you onlyallocate this time to the importanttasks!Usethelessproductivetimesfor‘general tasks’ and meetings. Here’swhy…

(1)Since our minds are more activeandfreshwecangetmoredone.

(2)Concentratingonthetaskathandismucheasier.(3)Our creative juices are lowingwhen our minds are more active andalert.3.BlockOutYourHighPerformanceTimes:Nextmakesureyoublockoutyour high performance times andunder no circumstances let otherthingsgetintheway.Againthisiskeytoyoursuccess.Treat your high performance times ascompulsory appointments (in otherwords,youcan’tcancelthem).If you have a secretary or P.A. makesure they understand these‘appointments’ arenever tobebrokenandreplacedwithanythingelse.

4. Resist All Distractions: Duringyour high performance times turn offyourmobile,takeyourof icephoneoffthe hook and don’t open your e‐mailprogramme.Evenoneinterruptioncansetyoubackan extra 15‐30 minutes not includingthe timeof the interruption.Thisdoestake a high level of discipline. In theearlydaysyouwill indthetemptationof leaving your phone or emailprogramme on hard to resist, but Ipromise you, this will slash youreffectivenessbyatleast50%.Onceyouforceyourselftoreduceyourdistractions to zero, you’ll ind it veryliberating!5.TellStaff (and family): You mustexplain to staff and family that unlessit’s an emergency you are not to bedisturbed during your highperformance times. By adhering tothese 5 key time management tips Iguarantee you’ll get so much moredone.

This translates to greater income andmoresuccess—worthyoutcomesdon’tyouthink?Seeyounextmonth.SH

“Turnoffyourmobilephoneandyouremails”

Time Management Strategies...

Implementthesestrategiesandcreatemoretimetogetstuffdone!

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Reduce your tax & accounting fees up to 50% Many of our clients have been generated by referrals from existing clients.Wemuchpreferdealingwithclientswhohavebeenreferred.WhenYouRecommendUsToFriendsOrAssociates. We'llgiveyou10%ofthereferralfeeoffyourbill.Soifyourecommendthreepeoplewhobecomeclients,we'llgiveyou30%offyournextbillforeachmonthuptoafullyear'screditonyouraccount.That’swhywecreatedourreferralprogramme.Thisisourwayofshowingourappreciationtoyou.Thankyou.


Bet You Didn’t Know

52% of people admit to forgetting theirpartner’sbirthday.

The most preferred profession by someonelookingforadateisachef.

In the summer the amount of water pouringoverNiagarafallseachsecondcould ill13,000bathtubs.

It only takes two thin spokes tomake awheelstrongenoughtoholdtheweightofarider.Therest are spares but are required under a lawdrafted in the 1920s which has never beenrepealed.

The earliest recorded case of a man giving upsmoking was on April 5, 1679, when JohanKatsu, Sheriff of Turku, Finland, wrote in hisdiary “I quit smoking tobacco”. He died onemonthlater.

Eachkinginadeckofplayingcardsrepresentsagreatkingfromhistory:Spades–KingDavid,Hearts – Charlemagne, Clubs – Alexander, theGreat,Diamonds–JuliusCaesar.

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