John J. Bowman Jr Accountant, John J. Bowman Jr. Accountant

Podcasts For Entrepreneurs In 2022

Podcasts have become extremely popular in the past twenty years. Not only are podcasts extremely accessible for listeners due to being on-demand, but they’re also rather easy for anybody to make. This has led people from all walks of life to start their own podcasts, some with the intention of entertaining, others to discuss certain subjects, such as business and entrepreneurship. There are dozens of podcasts out there that are hosted by successful entrepreneurs from all over the world, with each one telling their stories as well as trying to help the next generation of entrepreneurs find their own success. Here are some of the best entrepreneurship podcasts worth checking out in 2022.

The Tony Robbins Podcast

It’s no surprise that Tony Robbins is one of the most prominent individuals in the world of personal development coaching. He has helped over 50 million people achieve their goals and become successful business and life leaders. Due to his immense popularity, he decided to turn his passion for coaching into a podcast.

The goal of the Tony Robbins Podcast is to help people improve their relationships and their business. Each episode is designed to bring an industry-renowned mind to bear on their listeners in order to help them become better people.

The show covers a wide range of topics, such as asking if you’ve ever felt like a fraud, How to ignite your business, and discussions with some of the most prominent leaders in the world of business from companies such as PayPal, Hypergiant, and Skype.

Planet Money

One of the most popular programs in the NPR lineup is the Planet Money podcast. This is a talk show that aims to help people understand the importance of money. As the name suggests, this is a show that aims to help people keep the world moving.

Through this program, Planet Money aims to help people make sense of the rapidly changing global economy. It features interviews with financial experts and high-profile individuals who are interested in keeping their listeners up to date on the latest developments in the industry.

Rise Podcast

The Rise Podcast is a talk show that aims to help people get practical advice from some of the most prominent business leaders. It’s hosted by Rachel Hollis, an entrepreneur, and TV personality. She has been able to inspire and motivate many people through her inspirational and motivational speaking.

Rachel’s podcast is often referred to as The Tony Robbins for women. It features a variety of engaging topics, such as how to turn a side hustle into a multi-million dollar business, and how to build a great team for your direct sales business.

Despite the increasing number of female entrepreneurs and influencers broadcasting their programs on the Internet, few are doing it with the same amount of force and following as Rise.

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John J. Bowman Jr Accountant, John J. Bowman Jr. Accountant

The Best Leadership Books For 2022

Books are a great resource for learning more about something or learning a brand new subject. Leadership is one of those subjects that you can learn a lot about in a good book. Leaders from throughout time have written incredible books about what leadership is to them, passing down their knowledge to later generations. With so many great leadership books out there, it can be overwhelming to track down what’s worth reading. Look no further, as this article will discuss some of the best leadership books worth reading in 2022.

The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers – Ben Horowitz

In his book, Ben Horowitz explains how to become a leader without an established executive position within an organization, and instead, start a company from scratch. He tackles the many obstacles that entrepreneurs face when they try to start a business and provides practical advice on how to avoid making mistakes and making tough decisions.

Leadership: In Turbulent Times – Doris Kearns Goodwin

With a lot of pressure to lead their teams through difficult times, leaders often need guidance on how to navigate through the crises that their predecessors experienced. In Turbulent Times, Doris Kearns Goodwin explores the various obstacles that American presidents faced.

In Turbulent Times, Goodwin draws parallels between the various challenges that American presidents faced and the ways that they were able to turn tragedy into achievement. This book is a great resource for leaders who are looking to improve their skills as a leader.

Leadership: Theory and Practice – Peter G. Northouse

This book is a great resource for new leaders. It provides a comprehensive overview of the various theories and techniques that are related to leadership. It also features a variety of interactive exercises and checklists that help managers make a mark.

How to Lead: Wisdom from the World’s Greatest CEOs, Founders, and Game Changers – David M. Rubenstein

In How to Lead, David M. Rubenstein draws on the experiences of some of the most prominent individuals in the world of business to provide a variety of perspectives on leadership. Each chapter features a different perspective on leadership, and each of these individuals has their own unique take on the subject.

Through these inspirational examples, readers can learn from the experiences of some of the most prominent individuals in the world of business. The book’s content was derived from interviews that David conducted with these individuals over the years.

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How Entrepreneurship Has Evolved For Today’s World

Despite the various effects of the pandemic, the economy has not been completely destroyed. One of the positive signs is that a growing number of people are becoming more interested in entrepreneurship.

The number of new business registrations increased significantly in July 2020. This is because the pandemic has led to more people wanting to start new ventures, especially in the health and well-being industry.

Instead of starting companies due to the lack of traditional opportunities, many people are choosing to start their own businesses due to the current economic climate.

Here’s how entrepreneurship has changed and will continue to change in the coming years.

Adaptation Driven Business Owners

The pandemic has highlighted the need for entrepreneurs to be adaptable to change. They may be starting a new venture or running an established business, and they may need to adapt quickly to meet the demands of the market.

Many new businesses that are already established may find it difficult to adapt to the changes brought about by the new regulations. For instance, the outbreak of coronavirus variants may cause consumers to hold back on spending.

Despite the negative effects of the pandemic, many businesses that are not dependent on foot traffic will still be able to meet the demand. They can also adapt to the changes brought about by the new regulations by implementing new strategies and procedures.

More Technology Means More Accessibility

The rise of technology has allowed people to start and market their own businesses without having to go to a storefront or an office. This eliminates the need for traditional office space.

Through online platforms that offer various services, such as pet sitting and personal shopping, entrepreneurs can get started without having to spend a dime on marketing a separate business. These platforms can also help lower the entry barriers to self-employment.

While some people go all in and leave their employers, others pursue different interests. For some, working with animals is a passion, and becoming a freelance can allow them to pursue this goal and other income sources.

Social Responsibility Is Motivating Business

Climate change and socioeconomic issues are driving the creation of new ventures in the private sector. The nonprofit sector is also seeing the emergence of programs that help minorities.

A study by McKinsey predicts that by 2050, the demand for various products and services will decrease as a result of the transition to zero carbon emissions.

Examples of this include the development of products and solutions that help minimize air pollution. Some startups are even using AI to develop farming methods that are pesticide-free.

New Opportunity Arises

The rise of technology and the pandemic have made entrepreneurship more attractive. As a result, many people are choosing to start and run their own businesses instead of staying in traditional employment.

The way business models are being built is becoming more flexible as people take advantage of the technological innovations that have made it possible to operate in an instant.

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The Many Styles of Leadership

Leaders are often complex and it can require multiple lenses to understand their decisions. Having the right people in the right positions can help employees become more valuable to the organization. Let’s take a look at some of the most popular leading styles.

The Seer

 Good leaders know where they’re going and why they’re there. Their team members can then influence them by talking about the ultimate vision, which is the reason why many leaders reject good ideas.

The Steward

The best leaders see themselves as being responsible for their organization’s resources. They must use those resources to grow the company. A team member who wants to influence their leader will also understand how decisions will affect the company’s overall resources.

The Strategist

This leader’s face is always focused on the people. They think deeply about how to put people in the right positions to achieve the best results for the company. When team members talk about a decision, the leader must consider everyone involved.

Most leaders have a vision for the next generation of leaders within the organization. They know what they want to achieve and how they will help future leaders develop.

The Sage

The sage leader is knowledgeable about the systems and processes that will help team members function at the highest level. They also build effective strategies and know how to get the best results.

The best leaders are focused on making the most of the organization’s resources and improving the processes to ensure that everyone on the team performs better.

The Scientist

The scientist leader is curious about finding new ways to do old things. This characteristic makes leaders more willing to try new things. Team members can become valuable to them when they know why they’re doing certain things.

Like diamonds, leaders have many facets that help them take on their roles effectively. Next-level leaders will often have to learn how to engage with these facets.

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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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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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Improve Your Results with These Investment Tips

Investing money is something that you need to focus on if you want to get good results. You can’t expect to turn a profit if you just make moves without thinking them through. Look at these investment tips that can help you to improve your results over time. You should be able to put yourself in a much better financial position if you follow the advice well. 

Invest in Stocks That You Know

Investing in stocks that you know is generally going to be better than taking a gamble on an unknown entity. If you invest in companies that you know nothing about, then you’ll have no way of knowing whether you’re making a good move. Also, it’s important to know about the types of stocks that you’re investing in. If you have no knowledge of a specific industry, then you might want to learn about it before you start investing money. 

Try to Diversify

Diversifying isn’t just some fancy term that people throw around in the investment world. You should try to diversify your investments so that you can lower the risk of having your investments wiped out. If all of your eggs are in one basket, then a market crash or dip in that area could ruin you financially. Having a diverse portfolio spreads things out so that you won’t be hurt so bad by market problems in a specific area. 

Learn When to Sell a Stock

Knowing when to sell a stock is a skill that you will want to hone over time. Sometimes getting greedy and hanging onto a stock for too long can lead to ample amounts of regret. You don’t want to hang onto a stock so long that it will start to lose value again. If you see a good opportunity to make some money on your investment, then it might be wise to take it. 

Avoid Emotional Attachment

Emotional attachment is something that will hold you back in the investment world. This is true whether you’re investing in stocks or real estate. Don’t let your emotions sway your judgment when you’re trying to make investment decisions. You should invest money based on data and trying to turn a profit rather than being emotionally invested in something.

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How to Plan Your Income for Retirement

Planning for retirement is important if you want to cope with life after your days in the office. According to the Employee Benefit Research Institute, 4 out of 10 American workers are saving money for their retirement. Do you want to be part of these smart employees or the lost majority? Here are some of the things you need to know about preparing for retirement.

Setting Financial Goals
Saving is a process that demands commitment. Since retirement is definitely not your only saving goal, you should try striking a balance or prioritizing what is necessary and weighty. For instance, you could comfortably do away with lingering debts and saving for vacations, cars, homes, and lattes.

Saving for Retirement
Retirement involves more than just assessing the amount of saving you need. When planning for retirement, it’s is also important that you pay attention to where you save your money. Find the best investment or saving account. Take time to calculate how much you need to save for retirement as well.

Investing
While saving is simply amassing wealth, investing is the process of multiplying the wealth. Cash is not a great way to store your wealth, and there are thousands of reasons why. Before investing your money in any project, assess the reward-to-risk ratio and the return on investment. Which investments are more diversified, and when do you get in for maximum gains.

What Do You Invest In?
Are you ready to have your retirement saving work for you? Well, if that’s the case, setting up an investment portfolio should not be complicated. Acquaint yourself with principal retirement investment rules. Are you a DIY person, or will you need to hire the services of a financial adviser? If you want to manage your retirement saving yourself, it is recommended that you gather sufficient knowledge on investment strategies. If you will choose to work with a professional, get to know about the related costs.

Building Wealth
Retirement investing is not a phenomenon that occurs in one sitting. It is a process that will change with the dynamics of your employment as you move from one job to another or up the promotion ladder. You will also have to endure changes in the stock markets and meet family obligations. However, that does not necessarily mean that you will have to babysit your retirement investment. There are numerous ways to protect and manage your wealth and savings in the long haul.

This article was originally published on JBowmanAccountant.net

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