Pay Play Profit

As a visionary or an executive, you may get it in your head sometimes that you're hiring people for yourself. However, you're there as a leader for your people. Success depends on the growth of your leadership. Therefore, you have to be the leader that your people are proud to serve.

At The Bottom Line CPA, we're in the process of adopting the Entrepreneurial Operating System (EOS) founded by Gino Wickman. As a result of that, everything has been changing in the last 18 months.

Today, Jessica brings in Mary Beth Pennington, a longtime employee of The Bottom Line who has just transitioned to the executive support function inside the marketing and sales department. Those areas are largely centered around inbox and calendar management, scheduling, and file management.

Listen in as they talk about how you can gain momentum with your Executive Assistant, how you can build trust on a foundational level, and some lessons they've learned during this pivotal transition in their organization.

In this episode, you will hear:

• The 180-degree turn that occurred when we adopted EOS filtering from the top-down
• Mary Beth's five distinct areas of ownership
• What the DNA of a great Executive Assistant is
• How to nurture the EA-Executive relationship
• What 100-day onboarding looks like
• The importance of managing expectations
• Being part of the membership program, Momentum HQ

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Entrepreneurial Operating System (EOS)

How to Be a Great Boss by Gino Wickman and Rene Boer

Momentum HQ

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

The Employee Retention Credit is a new credit that came out of the CARES act. The federal government put it in place to try to keep employees employed. They are giving employers money back to ensure this.

The credit is basically a refund of the Social Security and Medicare taxes you have paid on your employees' wages. The idea behind the credit is to defer your payroll taxes. By the time the taxes are due, you will have this credit so you potentially won't owe them.

However, as with everything in the CARES act, things are constantly changing. Today, we discuss how the ERC works, which types of businesses can take advantage of it, and the new changes that have been implemented in 2021.

In this episode, you will hear:

• Businesses that qualify for ERC
• $5,000 credit cap in the entire 2020
• $7,000 credit cap per quarter in 2021
• How to apply for the ERC and how it gets credited

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

With the increase of cyber-attacks in our world today, it's no longer a matter of if but when. Don't think IT stuff is only for big companies; it's for everybody. Whether it's through identity fraud or an information breach, getting your security and your company's security compromised could cost you everything you've worked for.

Chris Mahler, CPA, is back on our episode today. We dive into the topic of creating a culture that champions cybersecurity as an integral part of reimagining entrepreneurial success.

People trust us with a lot of information and data and we have to champion protecting it. Whether you're doing business online or virtually (or have an e-commerce business), we're covering some topics today that you probably haven't thought about and that you can bring to your business.

As a business owner, you need to elevate your company in protecting your name and reputation. You can do this by addressing the internal security aspect and protecting the assets of your clients, especially their identification and cyber assets.

In this episode, you will hear:

• The role of EOS in organizing your leadership
• How to create an accountability chart
• The role of the integrator in a company
• The five roles Chris plays in the company
• How to choose the right partner for IT support
• How to ensure password security

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Episode 016: Insurance and Protecting Your Online Business with TIS: www.profithero365.com/016-insurance-and-protecting-your-online-business-with-tis/

Lastpass: www.lastpass.com/

Computer Depot of Knoxville, TN: www.computerdepotonline.com/

Entrepreneurial Operating System

Traction by Gino Wickman

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

In this episode, Chris Mahler CPA joins us as we take a deep dive into what your tax pro needs to know for tax planning. We specifically touch on two parts. The first is the difference between tax planning and tax compliance. The second is the difference between basic planning and advanced planning.

We want to reimagine entrepreneurial success and keep it simple, practical, and powerful. Although tax isn't always practical, the practical part is being able to have a better understanding of what needs to be done as well as when and how it needs to be done.

There's a big difference between just thinking you're doing something for the IRS and figuring out what you need to know so you pay the least taxes as legally possible. With that being said, you need to become a planner. It's not just on your tax pro to be the planner.

Ultimately, tax is a service, not an event. It's a year-long process, not just a one-time event. If you can get your mindset shifted around that, it could really change the game and the results.

In this episode, you will hear:

• The difference between tax planning and tax compliance
• Types of information a tax pro would need from you
• Picking a partner, not just a tax professional
• Basic planning vs. advanced planning
• What our process looks like at The Bottom Line CPA
• Why you need to report your charitable contributions

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Pocket More Profit Workshop

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

Over the years, we have seen how the way we're setting and achieving our goals has evolved. A huge part of our growth and traction is the Entrepreneurial Operating System (EOS) that we've implemented in our business.

When we first started out, we had short-term goals such as getting the blogpost or newsletter done or sending out emails once a week. Back in August 2020, we decided to be an EOS company. One year later, we have seen the tremendous impact it has had on our business. It has been life-changing not only for our business but for our team members as well. It has called us higher in the way we show up in the business and relate to each other and our clients. Indeed, it has been one of the best decisions we've ever made.

With the introduction of EOS, our goals became more clear. When you have that clarity, you start seeing which things align and which don't. Then your goals start getting bigger and bigger.

Ultimately, there is no perfect start when setting and achieving goals. However, the more you do it, the better you get at setting goals. It's a process and it only works when you work it.

In this episode, you will hear:

• How our goal setting has evolved over the years
• The impact EOS has made in our business
• The benefits of EOS milestones
• Getting the right people in the right seats
• Achieving our goal to run a mini-workshop

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Pocket More Profit Kickstart

Mini-Workshop Magic

Entrepreneurial Operating System (EOS)

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

In this episode, learn how you can make some breakthroughs by taking on very intentional scheduled clarity breaks and how you can start making better profit decisions in your business.

Our company has been running on the Entrepreneurial Operating System (EOS) and it has truly moved the needle in terms of leadership in our leadership team, the performance of our entire organization, and the growth of our money in general.

One of the tools in the EOS process is clarity breaks. Whether or not you adopt EOS, the tenets of clarity breaks and making profit decisions hold true for any business owner and any business.

Remember, profit is measured in time, energy, and money. No one in the business is going to advocate for profit more than you as the business owner and visionary. Therefore, you have to make profit matter.

In this episode, you will hear:

• What clarity breaks are
• The benefits of taking clarity breaks
• How clarity breaks are done

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Entrepreneurial Operating System (EOS)

Traction by Gino Wickman

How to Be a Great Boss by Gino Wickman

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

In this episode, we dive into pricing.

Not all sales are created equal. There are several reasons that that happens. One of those reasons is that every decision is a profit decision where profit is measured in time, energy, and money. Therefore, when we sell something, it requires time, energy, and money.

Now, if you have good money but it robs you of your time and energy, that's not a good pricing model. Additionally, if you have time to pull it off but it's not profitable, that's not an ideal pricing model either. You should evaluate your products and your processing as often as is necessary to get you to where you want to go. You can't just price something today and hope it's going to keep working at that price forever. Otherwise, your profitability will go down.

As certified Profit First professionals, we have found a very simple, practical, and powerful way of figuring out pricing. Now, there are going to be factors within your control and factors outside of your control. You want to limit the outside factors creating havoc on the inside and for that you need margin. This can be found in profit, time, and energy.

In this episode, you will hear:

• Taking the emotion out of money
• Understanding your real revenue vs. top-line revenue
• Why you need to create separate accounts
• More examples and scenarios

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

054: ​​Celebrating Y21Q02 Profit Distributions

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

In this episode, we talk about the 2021 Child Tax Credit and give you a baseline on what this credit is and what it isn't. The Child Tax Credit has existed since the 1990s but just this year, President Joe Biden put forth the Advanced Child Tax Credit as part of the American Rescue Plan. Today, we're going to discuss some of the changes and adjustments that have been made.

Our role on this podcast is to help you see around blind corners and help you know what you don't know. We want you to understand the advanced portion of this tax credit so you won't be surprised when it comes time to actually file your return. We're also dispelling some of the myths that have been going around so you can be better informed and use this knowledge as part of your tax strategy.

In this episode, you will hear:

• An overview of the 2021 Child Tax Credit
• Who qualifies for it
• Timeline of payment
• Forms of child tax credit and refunds on your tax return
• Dispelling some myths around it

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

It's the end of the quarter which means it's profit distribution time! At Profit Hero, we celebrate the end of each quarter. We hope this episode inspires you to also celebrate profit distribution by the end of Q3.

The end of each quarter is sometimes bittersweet for us because not everybody has the same story. However, there are always good things at the end of each quarter, no matter what that looks like. If you're still not putting profit back into your business, then get started right now.

Make it simple. Make it small. But definitely make it a habit!

In this episode, you will hear:

• The good things about end of quarters
• Why the profit account is very powerful
• Why you should have a separate account for profit
• What happens during profit distribution (and some examples of what our clients do!)

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Pocket More Profit Workshop

Previous episodes on Profit First:

https://www.profithero365.com/017

https://www.profithero365.com/004

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

The pandemic is not over. Even in this post-pandemic world, small businesses are still feeling the impact of it. In order to help alleviate the pains of many small businesses, the government created the Paycheck Protection Program. But there are deadlines associated with it as well.

In this episode, we're going to dive into Paycheck Protection Program Deadlines (June 2021 edition) and what people need to know about it if they've not yet walked through forgiveness.

There's a big deadline coming up for paycheck protection forgiveness and the forgiveness aspect of this program is what has made it incredibly attractive for small business owners in particular. If you don't get it forgiven, it basically turns into a loan. This was everyone's fear when it initially rolled out. Therefore, it's important to know what those deadline dates are.

So don't miss this opportunity and tune in now.

In this episode, you will hear:

• What is the Paycheck Protection Program?
• The benefits of the Paycheck Protection Program
• The deadline for PPP forgiveness
• Where to submit the forgiveness application

Subscribe and Review

Have you subscribed to our podcast? We'd love for you to subscribe if you haven't yet.

We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com