Category Archives for "Practical Biz Helps"

Have You ever been Anxious about your Business Taxes?

By Garrett Takach | Practical Biz Helps

I sure have!!!  Hi, I’m Garrett Takach.

I’m a competitor on NBC’s American Ninja Warrior and an entrepreneur who founded a Ninja Park fitness gym 5 years ago. 

I’m great at everything 'Ninja' and helping others achieve their fitness goals, but I struggle with the business side of my company.

So, I called George Black because he guides entrepreneurs like me.

My conversation with George:

(If you want to hear our conversation - raw and unedited, click the play button at the bottom)

I started by telling George that I am struggling with the accounting side of my business and I am stressed about making the deadline for taxes. I explained that I feel inadequate to be an entrepreneur because I can’t manage the financial side of my business.

Then I hear myself telling George that I hate doing the accounting and it seems to be killing my entrepreneurial desires. I know this has to get done properly for my business to continue, but how can I continue with this strain on my passions? 

Even I'm surprised by the intensity of what I am saying.

Ninja obstacles are the answer

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What is a CFO and What do They do?

By George Black | Practical Biz Helps

Duties of a CFO

The Chief Financial Officer is a top-level leader of a company who oversees an organization’s finances. Although expectations vary by company, a CFO’s responsibilities often combine the duties of a treasurer, controller, strategies, planner and advisor.

This professional oversees a firm’s accounting staff while analyzing economic data and making major financing decisions. A CFO is present to future focused, while knowing what has occurred in the past.

~ Investing

Chief Financial Officers work to identify the most lucrative investment strategies to grow companies. They assess current equity, liquidity and debt figures before spending any money.

A competent CFO takes calculated risks that raise profits without putting the company in danger. He or she knows how to avoid excessive debt burdens and ensure a firm set aside adequate emergency funds. This Officer also has the expertise to negotiate advantageous business deals and contracts.

~ Reporting

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5 Differences Between Business Coaching and Business Mentoring

By George Black | Practical Biz Helps

Business Coaches and Mentors

Staff members often look to owners and executives for guidance. Despite their education and experience, leaders don’t always know how to solve every problem. A business coach or mentor can help you run your company wisely. However, it’s vital to understand the differences between these two types of advisors.

Mentoring

A business mentor usually possesses more experience than a coach. He or she has probably overseen at least one firm for many years. This individual concentrates on providing general advice and inspiration. Proprietors frequently tell mentors about new ideas to confirm that the concepts “make sense.”

These professionals strive to build lasting relationships with the company leaders they serve. Rather than solely focusing on commerce, they can also discuss personal issues. For example, you might need advice on balancing business responsibilities with the rest of your life. Executives can escape isolation by confiding in their mentors.

Coaching

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