Daily Archives: May 14, 2018

A mans got to know his limitations!

In 1973, in Magnum Force, Harry Callahan said famously, “A mans got to know his limitations.”

This applies to all of use, every day, and especially to Entrepreneurs.  It is a rare person that can be good at three of four areas of expertise, yet many business owners try to be just that, every day.  Sales, Marketing, Operations, management, production, accounting, finance, human resources, legal… how many hats do you wear?  More importantly how many do you wear – that you know you are not good at?  How many times a week do you say to yourself “I really have to get to that project, why do I keep putting it off?”

The most productive entrepreneurs know their limitations, and hire outside help to shore up their weaknesses.   In fact, most business owners spend all their time putting out fires and meeting deadlines (being the manager), and spend no time planning (being the leader).  Then they are surprised when things fall apart.  And they will, so plan how you will handle it and what your backup plan is.

Knowing your limitation is essential to self-growth and progress. To improve your business, take a good long look in the mirror and decide what your weaknesses are – and go get someone to help.

 

“Mastery of a task may be a straightforward path. Mastery in leadership is a lifetime pursuit, one that is both humbling and challenging as well as rewarding to the individual, and the team, when it works.” – John Baldoni

FMLA Tax Credit Clarification

Trucker and Huss released a clarification on the recent tax credit for the Family and Medical Leave.

“Section 13403 of the Act added the paid family and medical leave credit as a new general business credit under Internal Revenue Code (the “Code”) section 38. However, the credit is a temporary addition to the tax code because it only applies to paid leave provided January 1, 2018 through December 31, 2019. Generally, an eligible employer may claim the tax credit based on wages paid to qualifying employees on leave for any of the purposes listed under the Family and Medical Leave Act (FMLA), provided that certain conditions are met.”

To claim the credit, an “eligible employer” must have a written leave policy that:

  1. Provides at least two weeks of paid family and medical leave annually to all full-time qualifying employees (the duration of the paid family and medical leave may be prorated for part-time qualifying employees);
  2. Pays qualifying employees at least 50% of their normal wages; and
  3. Ensures that the employer will not interfere with, restrain, or deny any rights provided under the policy, or discriminate against any individuals.”

For the full article, click here.

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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