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Great Books For Entrepreneurs To Read In 2022

While it can be hard to break away from the more traditional paths when it comes to starting a business, it’s also not as if you have to do it alone. Books are a great way to learn from seasoned professionals and get advice on how to run a successful business. If you’re looking for advice, or are unsure of what the next step in your latest business venture should be, check out one of these great books for entrepreneurs.

Entrepreneurial You: Monetize Your Expertise, Create Multiple Income Streams, and Thrive – Dorie Clark

In her book, “Entrepreneurial You,” Dorie Clark talks about the importance of developing multiple income streams in order to protect yourself from unpredictable changes. The pandemic highlighted the fact that life is unpredictable, and having multiple sources of income is also necessary to keep your business running smoothly. She also offers advice on how to build a brand and extend your reach online.

Traction: Get a Grip on Your Business – Gino Wickman

In his book, “Traction,” entrepreneur and author, Gino Wickman, provides a comprehensive overview of the various components of a successful business, including personnel conflict, profitability, and growth. He claims that his system, which was first published in this book in 2012, still works in 2021. Despite the various challenges that business owners and leaders face, he still advises them to get what they want from their company. He believes that many of them don’t take the necessary steps to manage their businesses properly.

Rework – Jason Fried

In his book, “Rework,” Jason Fried talks about the various kinds of people who are stuck in day jobs and are struggling with their current situation. He aims to help them get back on track and improve their productivity by providing a framework for doing so. Unlike other business books, this book doesn’t focus on creating a business plan or getting investors. Instead, it focuses on how to improve your company’s exposure and customer service.

Starting a Business QuickStart Guide – Ken Colwell

In his book, Ken Colwell talks about the importance of creating a business plan and provides practical advice for aspiring entrepreneurs. He also walks readers through the various steps necessary to start a business. The book additionally comes with a variety of tools such as a business tax cheat sheet and a checklist.

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The Best Podcasts For Leaders In 2022

As a leader, it’s your responsibility to constantly grow in order to benefit not only the organization or business that you lead but to also benefit your followers. The best leaders understand that it’s their duty to support the people below them and help them be the best possible versions of themselves. But being a leader is difficult, and sometimes we struggle to find the guidance we seek. In this case, a great tool that leaders can use to improve their skills is podcasts. There are dozens of leadership podcasts out there, each one offering guidance and advice, as well as entertaining stories from successful leaders in every industry imaginable. Here are a few of the best leadership podcasts worth your time in 2022.

Dare To Lead

Author and entrepreneur, Brene Brown, uses her book as the foundation for this podcast, which aims to help leaders improve their lives and businesses. She talks to prominent individuals from different backgrounds, and she has a unique perspective on topics such as personal leadership, culture, and innovation. Before you start listening to this podcast, sit down with a hot cup of coffee or tea and prepare your brain to be filled with great new information.

Lead To Win

Through real conversations, Michael Hyatt and his daughter, Megan Miller, are able to help you improve your leadership skills and make better decisions. This weekly program is designed to help you build strong relationships with your team and family. It’s also filled with lessons about goal setting, public speaking, and team culture.

The Radical Candor Podcast

Being an effective leader doesn’t have to involve losing your humanity. According to Kim Scott, she’s committed to helping you develop the skills and knowledge to be an effective leader. She also believes that being both compassionate and honest is very important in order to be effective. In the Radical Candor Podcast, Scott shares her top 10 tips for providing constructive criticism or praise to people as soon as they earn the right to do so. This advice can be applied to any situation, whether it’s leading a team or raising a family.

At The Table with Patrick Lencioni

Patrick Lencioni and his team are known for having real conversations with their listeners, where they’re able to provide actionable advice and insight on how to improve your leadership. This type of conversation doesn’t feel like a podcast, and it’s actually a conversation between a leader and his team.

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The Most Successful Entrepreneurs You Can Learn From Today

Aside from making important decisions for their businesses, entrepreneurs also develop new ideas. This is because they are constantly looking for new ways to improve their offerings and services. Starting a business from the ground up can be daunting, and requires hard work, good ideas, and perseverance. A great way to gain inspiration is to learn from some of the greatest entrepreneurs. Read on to learn more about some of the most successful entrepreneurs today and what you can learn from them.

Elon Musk

One of the most common mistakes that entrepreneurs make is assuming that they have to focus on one industry or field in order to become successful. Elon Musk argues that instead, they should explore other areas of interest.

One of the most important factors that set entrepreneurs apart from other businesses is their ability to carry over their skills in a single field. This allows them to create new products and services that are applicable to different industries.

Jeff Bezos

One of the most successful entrepreneurs in the US is Jeff Bezos, who founded Amazon. He believes that businesses have to improve their customer service in order to attract and retain the best possible customers. For the eighth straight year, Amazon has been named the best in customer service across the United States.

Despite the number of companies that ignore their unhappy customers, Amazon has been able to improve its customer service by learning from their experiences. This strategy shows that the company takes great care of its customers and is committed to improving its offerings.

Steve Jobs

Throughout his life, Steve Jobs walked a rocky path. He was able to rise to become one of the most successful individuals in the world due to his ability to put his faith in the temporality of life and the importance of working on the legacies people want to leave behind.

He never hid his principles from anyone. He dedicated himself to creating the best possible products that would become the standard for modern technology. After his brief battle with cancer, he concluded his remarkable life with another valuable lesson – no matter how much money you have, the one thing you can’t buy is more time.

Melanie Perkins

One of the most successful entrepreneurs in the world is Mel Perkins, who founded the online design platform Canva. She has been able to raise a total of $1 billion in funding and has over 10 million users globally.

Due to the cultural differences between Australia and the US, it was hard for Mel to raise funds for her company. However, three years later, she was able to overcome these obstacles and secure a series of fundraising rounds that valued her company at over $82 million.

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Smart Ways To Use Your Tax Return This Year

Getting a tax refund is a great time to start planning for the year, but you may also feel the drive to use your refund as a way of treating yourself.

While it’s understandable that you’ll want to buy yourself something nice with all of this extra money, it’s also important to remember that a tax refund is a long-term investment. Over the years, the average taxpayer has received a refund of around $3,000. To help you plan for the future, here are some simple tips on how to spend your tax refund.

Start Investing

One of the most important steps in building wealth is to invest your tax refund. Doing so will allow you to grow and put money into a variety of different financial instruments. For instance, if you receive a tax refund of around $3,000, investing it will allow you to earn an average annual return of 6%.

It’s also important to note that investing your tax refund in each of the next 10 years will allow you to build up a substantial amount of wealth. After 20 years, you’ll have more than $60,000 invested.

Wipe Out Some Debt

Getting carried away by high-interest debt can negatively affect your bottom line. It can also increase your monthly expenses and put a strain on your credit.

One of the best ways to get rid of high-interest debt is to pay off your credit card bill. Doing so can save you thousands of dollars a year in interest.

If the refund doesn’t cover all of your credit card debt, consider using a balance transfer credit card to pay off the remaining balance. If your credit is not good enough, consider a debt consolidation loan.

If you have high-interest debt, start planning on how to pay it off. If your tax situation is the same next year, adjust your current withholding to allow you to use the money to pay down debt.

Build An Emergency Fund

An emergency fund is a type of savings that can be used in the event of a job loss, medical emergency, or sudden financial setback. It should have a minimum of three to six months worth of expenses.

Getting a tax refund can also help you build an emergency fund. One of the best ways to use this money is by opening a high-yield savings account. Some of the online banks that offer this type of account include Capital One, Marcus, and Ally.

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How to Nurture Future Entrepreneurs

What does it take to be a successful professional? According to a recent LinkedIn study, having a side hustle is one key ingredient. As the number of entrepreneurs continues to grow, it’s important to understand the challenges and opportunities they face. This article will discuss tips for nurturing future entrepreneurs based on insights from successful professionals.

1. Create a Network That Supports Your Dreams

According to the LinkedIn study, one of the main reasons professionals start side businesses is because they want to “take control of their careers.” They feel empowered when they own and run their own business. This is also true for existing entrepreneurs who hold full-time jobs. Many of them consider entrepreneurship as a lifestyle choice rather than a profession. According to young entrepreneurs, creating a network that supports their goals is the number one predictor of success. Young professionals who are not entrepreneurs seek out other future-focused people for advice and mentorship.

2. Be True to Yourself

The second main reason professionals start side businesses is to pursue their passions. You might be interested in a particular industry or market that is not well-suited to your full-time job. In these cases, pursuing your passion can quickly translate into financial success. Many young entrepreneurs suggest the following when determining the viability of a business idea:

• Does it make you happy?

• Can you pursue it full-time?

• Is there a market for this product or service?

You don’t need to start a business that matches your day job. As an entrepreneur, you can wear multiple hats and pursue different passions simultaneously. Just make sure you stay true to yourself and focus on what makes you happy.

3. Develop a Business Plan

A business plan is the most important predictor of success for young entrepreneurs. It can be an intimidating task, but it’s necessary to reduce the risk of failure. Many professionals start side businesses on nights and weekends without much planning or preparation. This approach might work for some people but usually fails to reach their desired goals. It’s also important to remember that your business plan is likely to change over time, so it doesn’t have to be perfect from the start.

4. Find a Mentor or Coach

According to entrepreneurs, many learned how to become successful from other people rather than books or online courses. This is especially true for first-time entrepreneurs who may not have the necessary knowledge or skills to start a business. Mentors and coaches can provide guidance, direction, and motivation to increase your chances of success. Never stop learning and adapting your business practices.

5. Find Ways to Hustle in Your Routine

According to young entrepreneurs, finding time to work on your side hustle without jeopardizing your existing job can be challenging. The key is integrating it into your daily life through different strategies such as:

• Packing a lunch instead of eating out

• Using a personal car instead of relying on expensive taxis and rideshares

• Using a home office during available hours

You can also create time to work on your business by making some sacrifices. For example, you may have to skip out on specific social engagements or networking events to get more work done. This will allow you to achieve tremendous success and reach your goals faster in the long run.

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The Basics of Financing a Business

Buying a business is an investment that takes time, money, and research. There are many different financing options available to purchase a business, but these can have profound tax implications for you, unlike personal investment decisions.

What is Business Financing?

When you buy a business, you can choose from several different forms of financing. Call it cash, call it debt, call it equity. “financing” covers everything from a handshake agreement to a mortgage.

Debt Financing.

It is called debt financing because it does the businesses you buy or sell indebted to you. It is a contractual agreement outlining whom, when, and how much of the loan must be repaid. In other words, it’s a financial liability. There are many types of debt financing available to businesses

Equity Financing.

This is also called capital investment or risk capital because it involves an exchange of cash for ownership in a business. In other words, it is an investment or a personal liability. You become a part-owner of the business.

Numerous tax concerns must be analyzed when you plan to buy or sell a business. These considerations should be examined before you make your decision for one form of financing over another.

Income Tax Concerns.

There are two taxes to consider for debt financing. First, you must consider the tax ramifications of payments made on loan. The payments can be interest, salaries, or other sums of money owed to you by the business. The second tax concern is that of accrual income and deductions. Your accountant should provide you with detailed financial records and explanations of these concerns before your financing decision is made.

Like most business transactions, debt financing will increase taxable income. This is often described as an increase in “gross income.” Your accountant can calculate your gross income for you.

When you buy a business, you will usually have to pay for some purchase price with cash. The remaining portion of the purchase price will be financed by the seller (or lender) through a loan or line of credit. The loan payments are deductible for tax purposes. The expenses associated with the loan will be added to the business’s expense base, increasing the business’s cash flow.

Mezzanine Capital.

Mezzanine capital financing is a popular form of debt financing used to buy a business. Mezzanine financing is also commonly referred to as “working capital” and “small business loan.” The term mezzanine is borrowed from the world of high finance.

It refers to the middle tier or level in a three-tiered capital structure. Mezzanine financing sits between equity investments and first-tier debt in the capital structure.

Mezzanine financing is a hybrid form of financing that benefits debt and equity capital. Interest paid on mezzanine loans is tax-deductible, similar to the interest payments on traditional debt. The Internal Revenue Service (IRS) is likely to look closely at the loan arrangements between you and your buying or selling business.

Funding From Family and Friends.

Often the best financing option available to you will be from family or friends. This option, however, may come with some significant tax concerns of its own. While the amount of interest paid on loan may be deductible, interest paid on a personal loan is not deductible at all. In addition, the tax rules regarding loans to yourself also apply to loans made by family and friends (unless otherwise exempt). For more information on basics of financing a business visit investopedia.

In conclusion, before deciding on a form of financing, you should weigh the risks involved with each type of financing. There are many ways to finance a business, and you should carefully research your options to make an informed choice.

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Tips for First Time Entrepreneurs

Starting a business can be an incredibly rewarding experience, but it can also be quite challenging. If you are new to entrepreneurship, there are some things that you need to know to be successful. In this blog post, we will provide you with some tips for first-time entrepreneurs. Follow these tips, and you will be on your way to success!

Keep An Emergency Fund

It is a good idea for first-time entrepreneurs to keep an emergency fund. Although you may want to be a big spender and buy everything that you need, a big purchase will not help your business get off the ground. Instead, put some money aside in an emergency fund so that you have it when it comes time to face unplanned expenses.

Know When To Take A Break

When you first start a business, it is easy to become overwhelmed. It is easy to get carried away and work more than you should. Although it can be difficult, remember that your health and happiness are important for the long-term success of your company. If you need a break, then take one.

Focus On Customer Acquisition

If you are looking for business ideas, think about businesses that focus on customer acquisition. A business like this will grow by finding new customers and keeping them happy. If your product or service solves a problem or is otherwise valuable, people will be willing to pay money to get it.

Enhance Marketing Practices

To attract customers, a business must market itself. This is especially true for technology companies. In the past, a business could rely on word of mouth and simple marketing techniques, but this is not the case in the age of social media and smartphones.

Business Finance Is Not Rocket Science

If you are a first-time entrepreneur, then the chances are that you have been an employee for most of your career. Unfortunately, business finance is different from personal finance, and it can be confusing for those who do not know all of the terms. To succeed as an entrepreneur, you must learn about business finance and ensure that all of your numbers are in order.

Learn Basic Skills To Make Your Product Better

When starting a business, you are essentially creating something from scratch. Even if your product or service already exists, you will likely have to make some changes to ensure success. Do not be afraid of learning the basics of design, engineering, writing, and marketing.

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Safest Investments For 2022

Investing is not a straightforward process. It’s hard to know how to make the right decisions when you don’t know the difference between one asset class and another. There are so many factors that need to be considered when investing to do it well, factors such as risk-taking, diversification, market volatility, and economic trends.

Investing in Cryptocurrency

In 2021, the financial world changed dramatically, Cryptocurrency was hailed as the new way to build wealth. It is now used in a growing number of financial transactions. For instance, it’s even possible to buy a Tesla car using Bitcoin.

Cryptocurrency is a type of digital currency that uses encryption to regulate its creation and transactions. It’s a decentralized, peer-to-peer system that allows for transferring assets securely without an intermediary. It’s become increasingly common for people to use cryptocurrency to invest, trade or even pay for goods and services online.

Unfortunately, cryptocurrency may not be a safe investment. The IRS is expecting to seize cryptocurrency in 2022, billions of dollars’ worth of it. This is because the anonymous nature of cryptocurrency transactions makes it useful for criminals to commit various financial crimes, from money laundering to tax fraud.

Stay Safe with Traditional Investments in 2022

Treasuries are one of the most stable investments available. They are also the safest option because of government backing. Since they are supported by the money of U.S. taxpayers, people feel more confident with Treasuries than any other type of investment.

Bonds are another safe investment. They provide a predictable income stream. They are usually issued by governments, corporations, municipalities, and other entities that are looking for an alternative to bank loans. Investing in bonds is a safer bet most other financial markets because the issuer is responsible for the interest payments.

Investing in stocks or mutual funds can be a risky venture if you are not prepared. However, if you know how to invest and what you are investing in, the risk is manageable. The advantage of stocks is that you can get a good return on your investment.

When Investing Avoid Market Hype

Market hype can lead to making all the wrong investments for all the right reasons. To avoid getting hoodwinked by clever marketing promotions, there are a few basic rules for investing that you should learn. They can help you avoid investing when it is not worth it. You can discover these rules by educating yourself on how to make sound investment decisions.

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A Beginner’s Guide to Mutual Funds

Mutual funds are types of investments that can be very useful for investors. If you’re already investing in things like the stock market and real estate, then you might be looking for something a bit different. There are many reasons why mutual funds might be the perfect next investment choice for you. Read this short beginner’s guide to mutual funds so that you can get the information that you need. 

There Are Usually Minimum Investment Requirements

Typically, mutual funds are going to have minimum investment requirements that you will need to meet. For instance, a mutual fund might have a $4,000 minimum investment, but some might have lower minimum requirements like $2,500. The amount that you will be required to invest at minimum to get started will differ depending on the mutual fund that you’re looking into. It’s always worth considering the terms of the mutual fund before moving forward. 

Mutual Funds Can Be Very Hands-Off

One great thing about mutual funds is that they can be very hands-off investments. You can set it up so that investments will be made automatically. This allows you to just sit back and watch your investment fund work to grow your wealth over time. If you’re looking for an easy type of investment that won’t take up a lot of your time, then mutual funds will be very appealing to you. 

There Are Different Types of Mutual Funds

The first thing that you should know is that there are different types of mutual funds out there that you can choose to invest in. Many of the most popular mutual funds are known as bond funds, and these funds are mostly invested in stocks. Bond funds are also widely utilized, and they are focused primarily on bond investments. Money market funds are also available as a low-risk investment in short-term securities. 

Mutual Funds Work Well with Your IRA

Of course, you need to consider the taxes on your earnings from the mutual fund investment. Knowing this, it’s good to consider using an IRA along with your mutual fund since you can enjoy certain tax advantages. If you wish to keep as much of your profits as possible, then it’s worth setting up an IRA before you go through with mutual fund investment. If you’re serious about investing, then you likely already have an IRA.

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IRS Sees Billions in Crypto Seizures

One of the major issues that have been plaguing cryptocurrency traders and holders is the ever-growing number of government seizures. From Japan to the United States, there have been many instances where law enforcement agencies have seized cryptocurrency holdings – whether it be from individuals or businesses. One agency in particular that has seen a significant amount of success in these endeavors is IRS agents who have made billions by seizing crypto assets. In this post, we will outline 5 potential reasons why IRS sees billions in crypto seizures.

Cracking Down on Illegal Transactions and Money Laundering

One of the main reasons why the IRS is cracking down on what it sees as illegal transactions and money laundering is because most cryptocurrencies were designed to bypass third-party influence, thus making them ideal for criminal activities such as tax evasion and money laundering. When we look at Bitcoin in particular – the most popular cryptocurrency today – it was created in 2008 in order to eliminate the need for any bank or government involvement during transactions.

Lack of Paper Trails

Another motivator behind IRS seizing cryptocurrencies is the absence of a paper trail. Unlike when dealing with fiat currencies (dollars, euros, pounds, etc.), there is no physical proof of your ownership of the cryptocurrency. This means that when you sell or trade your digital currency, there is no seller or buyer information to prove that the transaction actually happened. Essentially, this provides an opportunity for anyone to sell their coins without it being associated with them.

Lack of Transparency

There’s also a lack of transparency involved in Bitcoin transactions. Since Bitcoin was designed for anonymity, it’s virtually impossible to determine the identity of the sender and receiver just by looking at wallets. This makes it extremely tough to prove that cryptocurrency was received illegally or involved in criminal activity.

Fear of Losing Out

Another important aspect is that Bitcoin has become incredibly popular recently, which means there is more and more competition among traders and investors to sell their Bitcoins. This has led some people to avoid reporting their cryptocurrency activity, while others have even resorted to illegal measures in order to avoid losing out on huge profits.

Fear of Doing the Wrong Thing

Finally, another reason why IRS is seeing so much success with seizing cryptocurrencies is that most people don’t know whether they should report their cryptocurrency transactions to the IRS or not. This is one of the main reasons why we’ve seen a significant increase in tax evasion and money laundering recently.

The Future of Cryptocurrency

Even with all these obstacles, there’s no doubt that cryptocurrencies like Bitcoin and Ripple will continue to grow and even replace fiat currencies in the near future. Many European countries such as Sweden and Russia have started embracing digital currency payments, which shows that many governments are willing to explore new technologies like cryptocurrency.

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