There's a Solution for That

Sales tax compliance is a growing and complicated problem, especially as a business grows and sales expands to several states or taxing Jurisdictions. Avalara's AvaTax solution is the perfect solution, for both guaranteeing perfectly accurate sales tax calculations but also helping automate the tax filing and payment side of Sales Tax compliance. Join me and my guest Laura Cumbridge, Senior Sales Executive at Avalara to learn how Avalara solves the problem of sales tax compliance. To learn more about Avalara and their solutions, here's a handy link for you: https://www.avalara.com/us/en/get-started.html?partnersource=0014000000NKUG9&CampaignID=7010b0000019PLZ&lsmr=Partner%20Referral&lso=Partner%20Referral Also, during the show, Brad mentioned a link to get a FREE sales tax risk assessment ($4,500 value). Here is the link for that free sales tax risk assessment: https://buy.avalara.com/risk-assessment?partnersource=0014000000NKUG9AAP&campaignid=7015a000001j1zEAAQ&c=3JC9J4V7ZT

FT from Figured discussed the challenges and solutions for agricultural financial management. Figured, a New Zealand-based company, provides a cloud-based platform that integrates production and financial data, enabling farmers and their teams to make informed decisions. The platform, which works with QuickBooks Online, helps farmers manage financial stress by providing clear, industry-specific metrics. FT highlighted success stories, such as a farmer who turned around their business using Figured and advisory support. He emphasized the importance of having a farming team and the unique needs of agriculture, which require specialized tools rather than generic solutions like Excel.

Anna Stallman from ASC Communications discusses the importance of corporate communications over digital marketing, emphasizing understanding business goals before implementing tools. ASC, a boutique agency of 12, specializes in PR, digital marketing, and creative design, focusing on a cohesive story. Anna highlights the need for consistency, audience engagement, and balancing promotional content with informative content. She also addresses the challenges of rebranding, stressing the importance of aligning brand identity with company values and ensuring internal and external communication consistency. Trends include purpose-driven storytelling, blending digital and in-person experiences, and leveraging short-form content to engage audiences.

Angela Healy, CEO of Avenue West, discussed the challenges and solutions in corporate relocations. She highlighted the company's unique business model, which began in Denver in 1999 and expanded to 17 cities, serving over 200 cities. Avenue West specializes in midterm rentals, offering fully furnished properties for a minimum of 30 days, providing a seamless experience for relocating employees. Healy emphasized the importance of understanding individual needs, such as school districts and family dynamics, to ensure successful relocations. The company also offers additional services like grocery packages and school registration. Healy noted that corporate relocations often fail due to unmet needs, and Avenue West aims to mitigate these risks through comprehensive support.

Tina Atchley from VARC Solutions discusses the challenges of migrating from QuickBooks Desktop to QuickBooks Online (QBO). She highlights the importance of considering the migration due to the shift towards online products, noting that robust inventory systems may not be well-suited for QBO. Tina explains the differences in functionality and terminology between the two versions, emphasizing the need for careful data validation and the potential use of shell files for complex migrations. She advises users to keep their files up-to-date, understand the concept of "targets," and to use tools like Excel and third-party software for data manipulation. Tina also recommends running reports for validation post-migration.

Jackson Payne from Viking M&A discusses strategies for growing business value for future sales. Viking specializes in SBA deals (1-5 million) and larger M&A deals. Key points include the importance of accurate tax returns, good books, and planning ahead for a sale. Viking emphasizes leveraging their network of lenders, attorneys, and real estate experts to streamline the process and avoid deal fatigue. They stress the importance of multiple buyers for competitive pricing and terms. Jackson advises sellers to focus on increasing cash flow, maintaining clean records, and preparing for the sale well in advance to maximize value.

Ryan Hutchins from Peak Business Valuation discusses the importance of business valuations, particularly for small and medium-sized businesses. He explains that valuations are crucial for transactions like buying or selling a business, divorce settlements, and estate planning. Hutchins differentiates between certified and non-certified valuations, emphasizing the thoroughness and liability of certified valuations. He highlights common valuation methods, including asset-based, market-based, and income-based approaches. Hutchins advises business owners to maintain clean financials and prepare for potential sales by ensuring accurate and transparent records. He also stresses the importance of hiring independent professionals for objective evaluations.

Brad White and Adam Brinkman talk about how discovery calls normally go, what makes a good one, what makes a bad one, lessons learned, and provide feedback for clients/prospects on discovery calls.

Brandon Kinsey of Kinsey Management discusses the importance of creating effective mission statements that align with organizational goals. He highlights that 75-85% of businesses lack a living mission statement, and many mission statements are too long or unrelated to the industry. Kinsey emphasizes the need for mission statements to be concise, personal, and actionable, and to be communicated internally before externally. He also stresses the importance of aligning mission statements with business strategy, employee engagement, and day-to-day operations. Kinsey Management uses tools like the Line of Sight and Predictive Index to help businesses achieve this alignment.

In this episode, VARC Solutions CEO Brad White explains the genesis of the podcast, who it's for and what types of topics we will be covering. In short, the podcast is for owners and senior leaders within small to medium sized businesses, where we discuss business problems and solutions to those problems.