Many of you are entrepreneurs. You have your own business and you work, day in and day out, to make your business a success. We start with an idea because we either saw a need or had a passion for something. How many of you thought through all the moving parts it takes to run a successful business before you got started? What about the staff and specialty consultants? What about the budgets and forecasts? Most of us have been right where you are or were. This is the part of every story that is not new. It is the common theme. We underestimate how much time we would spend on administrative tasks and bookkeeping. We may have underestimated the time it would take to do the marketing and promotional side of business. What about the networking? Did any of you think about how many hours would be involved in building connections with your ideal client? Many of us, just balance it all and try to “keep the plates spinning” all at once. When we are not focusing on our business, we can lose sight of our intent and our goals. We may feel overwhelmed or worse yet, we may put some of the key components of a successful business to the side and deal with it when we must, rather than creating a routine with it. Without a strong foundation, just like a building, businesses will collapse. How many of you dread the pieces of business, like marketing or bookkeeping? When I started Guardian Accounting Services, LLC, I dreaded sales and marketing. I would make myself sick over the thought of networking to generate leads. I would spend substantial amounts of money to attend networking events only to tuck myself into the corner. I knew I needed these opportunities to grow my business, but I hated them because I did not have any training in that area, and I did not know how to do it successfully. I relied on my reputation, small events, and referrals to gain business. My business growth was flat. I knew I provided a great service package but just didn’t grow and I didn’t know how to promote it. From this challenge, I created one of my favorite offerings at my firm. I knew enough to know that I needed help in sales and marketing but didn’t know what that looked like. I found someone who inspired me daily with her online presence and she taught me what I needed to know to go into events and own them. I now network, market, and promote my business and offerings with ease. In three months, I increased my monthly revenue by more than forty-five percent. I had the proper training to do these things without the anxiety and dread I had before. They are now part of my routine. I share this because, this lesson and growth were what prompted me to create my training course. Accounting for Real Life is a course I created to teach people how to do their bookkeeping with ease. I kept seeing a common theme that people had a great dislike for doing their bookkeeping. The more I researched and interviewed people, the more I found that their accounting was working against them. I have created content in manageable chunks without “accountant speak”. I teach how to utilize the software that you already pay for. I teach how to manage the processes and set up the system to work for your business. When you use your software in the manner that accountants and bookkeepers use it, you will find it less intimidating and be more likely to use it. Why would you invest money into something you won’t use or that you hate using? Would you keep a car that you hated to drive or didn’t know how to drive? Probably not. Your accounting should not be any different. With the COVID-19 pandemic, many business owners have scaled back outsourcing their bookkeeping. They have taken it in the house, whether they are doing it themselves as the business owner or adding it to another staff member’s workload. With the proper training, businesses can have transparent and accurate financials to allow them to leverage opportunities. In times like these, it is now more important than ever to position yourself to take advantage of opportunities for your business. For organizations that want more than the initial course, I also created a completely customized and recorded training for their accounting system. This has proven to be beneficial, and the most popular, for the business owner who wants a deeper dive in training for their specific company. These systems have been created to help business owners, just like you, overcome the challenges of not knowing. It enables and empowers entrepreneurs to work on their business rather than in it. When we work on our businesses, we can plan and grow. We achieve and exceed the goals we set just by using the resources we already have available. Stephanie Parris,Executive Contributor Brainz Magazine Stephanie Parris has a Masters’ Degree, in Accounting and Financial Management. She writes about accounting and business for today’s world. She has extensive knowledge of the non-profit, construction, real estate and service industries which she serves. Stephanie has become a leading expert in QuickBooks as well as outsourced accounting services. Stephanie lives in Missouri and volunteers and cooks for her local rescue mission, serves with Made to Serve as well as Race for Rett, mentors local female high school students, has a passion for wine and cooking, and loves spending time with her family and close friends. https://www.brainzmagazine.com/post/foresee-the-unknown

As many individuals and businesses across the globe have been impacted by COVID-19 in some way or another, many businesses are facing closure. Is your business facing closure, do you know someone who is? In the United States, the government passed an aid measure to assist many small businesses. The problem for many is the aid may be too late for some and is unattainable for countless others. Many cities, states, and countries have enacted shelter orders driving many businesses to consider closure due to lack of sales/customers. Instead of closing your doors, consider a way to pivot. The pivot can mean a new way of doing business-versus closing the doors. Many of my clients have done the same thing for over twenty years and have been successful but now find themselves considering dissolution. What may have worked twenty years ago, likely needs adjusted for today’s environment. Just as employers have had to adjust to employees working remotely, organizations should look at adjusting their mindset to continue operations. Sometimes during trying times, the greatest business changes evolve. Perspective in mindset can spark creative thinking. Start by reviewing your financial statements to determine where cash flow is going and what can be trimmed down if anything. One quick way is to evaluate subscriptions to determine what if anything is unnecessary. Often, organizations lose track of what subscriptions they maintain month over month and end up overpaying. Review insurance policies and contracts. It never hurts to review a contract and request adjusted rates. At my firm, we have adjusted rates for ninety days in order to provide some relief for business owners. We are all in this together, I consider the reduced rate as my investment in my clients. Review your main suppliers and consider asking for better rates. Chances are suppliers are feeling the pinch as well and want to continue business with you. "Look at what your competitors are doing to determine what is working for them and what you can implement in your business." Once you are confident with where things can be trimmed down, take a step back and evaluate your business model and goals. Before paying for someone to review your business model and structure, review it as if you were buying the business and had no background on it. Look at the processes, what works and what doesn’t work. What appears outdated, if it appears outdated, it likely is. If your restaurant only accepts call in orders, consider partnering with GrubHub or Door Dash. Look at what your competitors are doing to determine what is working for them and what you can implement in your business. Some of the best business minds in the world will tell you they are always evaluating their competition. After reviewing your business as if you were an outsider, consult with an outsider. My firm looks at processes for potential clients, reviews their financials, and evaluates their market space to determine what if anything can be changed. A fresh set of eyes can be useful when emotion and history is removed. Most times, my firm is able to implement processes for clients saving them an average of twenty percent overhead costs. We have been able to listen to a struggling business owner and decipher their goals and challenges to offer a fresh perspective on market trends allowing them to pivot and not only remain in business but grow. How many organizations do you know that are growing in these times? The organization that pivots and adjusts to the current economic situation, seeing opportunities where others may see challenges, will be the organization that grows and thrives during trying economic times. As a business owner, you must ask yourself, do you want to see a challenge or an opportunity? The mindset shift is often the hardest to accomplish but generally pays dividends. Take this time to invest in yourself. Find a mentor, a coach, a consultant, or all of them. Don’t stand still and let business pass you by, instead pave the way for other business owners. https://www.brainzmagazine.com/post/is-it-time-to-rethink-your-business-due-to-covid-19

Congratulations to Our March Spotlight! Stephanie Parris - Owner of Guardian Accounting Services "After working as an admin in a local CPA firm in 2008, I decided I needed to go back to school. I enrolled in college to become an Accountant and found myself divorced shortly thereafter. I pursued my degree and continued to persevere through the challenges of being a single mom, working over sixty hours a week, and being a full-time student. Today, I have my Master’s in Accounting and Financial Management and can share my passion with small and mid-sized business owners as well as individuals to help change the trajectory of their financial future. I have created a name for myself amongst my peers and work for some of the largest nonprofit organizations in the country. I decided it was time to start my own firm focusing on the, often forgotten. group of organizations, small and mid-sized businesses. Guardian Accounting Services was born. Guardian Accounting Services provides outsourced accounting and bookkeeping services with outstanding support. We understand how busy business owners are trying to excel in their field, so we provide the support and flexibility to enable them to grow and scale." Guardian Accounting Services 816-535-8250 guardianaccountingservices.com info@guardianaccountingservices.com Would you like to be featured as our next "Spotlight of the Month"? Email: info@wempowering.org

As many business are facing hardship during this current pandemic, Guardian Accounting Services is supporting these businesses. Many employees are faced with remote work and trying to navigate the adjustments that come with it. For anyone applying for SBA Loans or relief, remember your financial records must be clean and organized. Let us help you. The Founder of Guardian, Stephanie Parris, was recently published by Brainz. Magazine for her insights and help to businesses to remain strong during this time. Check out the link below. Follow us on Facebook to stay up to date with tips, tricks, and insights for the changing times. Sending you our well wishes. Please contact us if we can help in any way. https://www.guardianaccountingservices.com/keep-your-business-alive-amid-covid-2019

Written by: Stephanie Parris, Executive Contributor Brainz Magazine Considering the current global pandemic of COVID-19 many businesses are faced with trying to find solutions to keep their workforce in place and keeping the revenues generating. Many industries are unable to outsource or enable remote working for their employees due to the nature of their services. As of March 15, 2020, the United States government is working on an aid package to support businesses and individuals impacted by the need to prevent further spread of this disease. While the United States has been slow to respond and develop a plan of action, other countries have already enacted such measures. Many small and mid- sized businesses are unaware of services available to allow continuity of business during times like these. Rather than these businesses going bankrupt due to the nature of this disease, they should consider some options. Read more

Economists predict by the end of 2021 the United States will be in a recession. We can and should prepare to position ourselves in the best possible light for that, but we can also use this as a teaching moment. As a mother of four daughters between the ages of eighteen and twenty- four, I am using this as a life lesson in adulthood for all of them. As the girls have grown up, I have realized that oftentimes people aren’t teaching their children how to budget or how to plan for the life they want not the one they are simply surviving in. We want them to thrive not just survive. As I have watched the global news and listened to the economists for months now, the prediction of a recession is eminent. The advantage to us today is that we know it will be coming, we can expect it to be coming. What can you do to use this as a teaching tool? What can you do to position you and your family better? 1. Save. I have always recommended to anyone who will listen that they need to have at least three months of living expenses in savings and it needs to be untouched. The three months going into a recession is the minimum that I would suggest. Six months would be ideal. 2. Pay down high interest debt. Going into a recession, it is best to pay down your high interest debt like credit cards. Keep those balances to a minimum in the event you do need them should someone lose a job, or something else come up. The credit cards provide a little extra cushion. 3. Save more. This sounds redundant but save more aside from the six months of living expenses. Do everything you can to save as much as you can. During times of recession when money is tight, having an extra savings will allow you to negotiate and take advantage of items that you otherwise would not be able to. You can use the recession to your benefit. For example, someone is selling their boat or car because they cannot afford it, if you have savings you can take advantage of that deal. 4. If you are considering selling your house, do it NOW. If you are looking to list your house, get it on the market while the market is hot. When you sell, rent an apartment or small house and sit on that profit you made on the sale of your house. Then when people are forced to consider downsizing or getting out from under their mortgage, you are positioned to make your dollar go farther. 5. If you are planning big construction or remodel projects on your home, WAIT. If you hold off and keep that money in savings for a big renovation, you can again leverage your dollars during times of recession. For example, we are looking to put in an indoor pool. We have decided to wait as we want to maximize our dollar in getting the new building and pool installed. 6. Watch as stocks drop. Stocks that are known to perform well will drop in price, as they do be positioned to purchase them and hold onto them through the recession. Many individuals will be forced to sell their stocks during recession. If you are ready to purchase them, you can hold them and sell during the economic recovery or after it is fully recovered. You will have bought low and sold high, making more money. Being prepared to leverage your situation in an economic recession is a benefit to you and your family. It can mean the difference between a small business surviving an economic downturn or going bankrupt. With some straightforward planning steps, you can be ready to expand your portfolio to make the most of a generally unstable situation.

Help your business stay moving during the COVID-19. Below are a list of resources and tools available to help keep things smooth and going forward. 1. Avoid in person meetings. Resources are available such as Skype, Zoom and GoToMeeting for virtual meeting rooms. I recommend Zoom or GoToMeeting. Skype gets a little testy from my experience if you have too many people on or if there are multiple cameras. 2. In avoiding in person meetings, don’t be afraid to use your webcam. People freak out over being on camera, but it is all fine. Nobody looks amazing 100% of the time on camera. It allows folks to connect with being able to see your facial expressions and body language. 3. For secure collaboration portals (more secure than standard email) use items such as SmartSheet where you can create a shared space and exchange documents back and forth. Trello is another good resource to allow shared activity. My firm prefers SmartSheet due to the automation tools and ease of use. 4. Allow your staff to work remotely when possible. There are virtual cubicle resources such as Microsoft Teams, Sneek, Slack, and many others to allow users to collaborate in real time and not have that isolation concern. My team uses Sneek daily. It does provide for instant access if needed but also allows us to see who is working and who is available. 5. Setup your accounting to be remote. If you need a regular accounting staff, allow them to work remotely. With resources like VPN, remote desktop, cloud- based services, and many others there are endless possibilities for remote access. Our firm utilizes cloud- based services and remote desktop services for numerous clients with great success. Many of these can be setup in a relatively short amount of time to keep business moving forward. 6. If you are coming into the office just to sign checks, enroll in Bill.com or a similar service. It allows for the entry and sync of data between your QuickBooks and the service. They mail the checks or send the ACH, they collect your receivables and forward the funds to your bank account. They can cut out the middleman and allow you to be more efficient and work from literally anywhere. 7. Lastly, take care of one another. Ensure you are practicing proper hand washing, keeping your workspace clean and sanitized, staying home when feeling under the weather, SANITIZE your phone and keyboards, and look out for those that may be more prone to illness. These are simple steps to take in order to continue your business and to protect the people you ultimately serve. If you need help with any of these, or need contacts let me know. Do check with your IT folks or accountant to be sure you are not paying retail or paying in excess for any of these services during this time.

Have you wondered why your business has become flat or stagnant despite your sales accomplishments? Have you considered your accounting team or accounting solution may be the cause? Many businesses struggle with little to no growth due to their internal accounting. According to The Kauffman Early Stage Entrepreneurship Index, www.kauffman.org, entrepreneurial activity is at a twenty- year high. With the increase of entrepreneurs, today’s market can be more challenging than ever. Often, businesses try to grow with little success. Many small and mid-market business owners are misinformed or uninformed about outsourced accounting options. With the evolution of the business market, shouldn’t your approach to accounting evolve? Business.com published an article discussing eight challenges small business owners face daily, www.business.com. Of the eight challenges, six were related to accounting. Accounting can either elevate your organization or destroy it. Managing cash flow, payroll challenges, reconciling accounts, staying current on taxes, and financial analysis can be overwhelming to many business owners. When you are trying to grow your business, often, these things get pushed to the back burner. Solid accounting is often what determines whether you can obtain financing, or whether you are compliant with loan covenants and regulations. As an outsourced controller, I often hear business owners say they cannot afford to outsource or to have an accounting department. The bigger question is can you afford not to? Can you afford to have a key staff member leave without notice during your busiest time of year, while invoicing needs to go out to keep cash coming in, while you go out and sell? Chances are you cannot afford these curve balls. I have helped many clients gain an understanding of where they are, and reach their goals, all with accounting. It is the foundation of a strong business. In house accounting and finance professionals can be costly to a business. The cost of salaries, insurance, taxes, and risk of exposure can often be reduced with outsourced accounting services. Outsourced accounting services, with the right firm, can not only save you as a business owner in overhead and insurance, but can also provide a higher level of advisory service not often available from in house staff. Ask yourself what you could do with reduced costs, increased bottom line, and increased visibility into your financial performance. Would you expect to see an increase in your net income? Outsourced accounting professionals often provide controller and CFO services along with the transaction processing of day to day business. By taking advantage of these service offerings you could elevate your business with budgets, cash forecasting, key performance indicators, succession planning, business planning, and many other options. The greatest benefit of a proper outsourced accounting solution is redundancy. With redundancy your organization is not impacted by vacation, illness, maternity leave, transitional employment or any other situation with accounting staff When considering the option of outsourcing, do your due diligence. Determine if you need a bookkeeper or a controller. Discuss your wants with firms. If they don’t know your goals, they can’t help you reach them. Ensure that the firm has a proven success record as well as an effective business model. Verify redundancies are in place to protect you and your organization. Ask for testimonials from their current or prior clients. Ensure their model and technology solutions will fit your needs. Be sure that their software platforms are compatible with yours. Request regular, recurring meetings with your devoted team. Some firms offer on-site support while others work completely remotely, make sure you are comfortable with their offerings. It is your business; you want to know who is working on your account. Ask for resumes of the staff working assigned to your account. You wouldn’t hire an individual without a resume. Most importantly obtain a scope of work and fee structure. You need to set clear expectations to ensure you receive the services you want and or need. Don’t let yourself be limited by the idea that your accounting department must be on site. Times have changed as have the resources available to your organization. Regardless of the path you choose, be sure the one in the driver’s seat of your accounting supports your business goals and growth. Their position is to successfully manage all things accounting and allow you to do what you do best, grow your business.