CPA at Centaur Digital Corp, helping busy business owners decrease the amount of time and energy needed to manage their accounting system.
Two years ago, Dave opened a marketing company. He was great at his job, and he was able to grow his company to two dozen employees. When needed, he used consultants and coaches to elevate him to the next level so he could continue to successfully manage his company. However, the last two months have been especially rough, and it has Dave thinking if this is really the right business for him.
There are many times while building a business that you can feel stuck. Times when you are not sure how to move forward or if it’s even worth it. In these times of desperation, it’s hard to think logically about the problem and find a way forward. Keep these tips in mind for how to move your business forward.
Tip One: Be Persistent
Just because you can’t find the solution to a problem doesn’t mean there isn’t one. Most of the time, perceived problems are future worries that will never come to pass. If you give up each time you hit a rough patch in your business, it will never make it to greener pastures. Sometimes the easiest approach, when you hit a rough patch, is to just muddle through it—persistence can be your greatest advantage.
Tip Two: Organize Important Goals
Business owners and managers alike can feel like their main job is to put out fires that their employees started. Falling into this pattern can feel like you are stuck, focusing on keeping the business together rather than helping it grow. To refocus on what’s important, organize your to-do list each week into two categories: important versus urgent. It will not be an even split, nor should it be, but to move your business forward you should ensure the important tasks also get completed.
Tip Three: Learn From Failures
The best way to move forward in business is to always learn from your failures. There will always be mistakes made, and it’s more important that you learn from them than to try and avoid them. Each time a mistake is made, by you or someone else, analyze it. If it’s a one-off mistake, you can probably ignore it as an accident; if it’s more persistent or catastrophic, then you can design systems to ensure it won’t happen in the future.
Tip Four: Disregard Sunk Costs
As human beings, we get personally and emotionally invested in what we do. When you also factor in monetary investment, it’s very hard to get out. In business, this is called sunk costs, what you already spent you can’t get back. Since you can’t get it back, then it should not impact your future decisions. If you find yourself saying something like, “But we’ve already invested so much time and effort,” you know you are likely dealing with sunk costs.
Tip Five: Analyze Future Benefit
One metric in business that can move a financial decision along is to analyze future cash flow; however, this can be expanded to include an analysis of any future benefit. Using this method helps you better disregard sunk costs and focus on what brings value to your business. You can use this method to analyze your whole business or parts of it.
There is no easy path to business success. In social media highlight reels, you only see the illusionary perfection of perfectly laid out plans that turned into blooming successes. The reality is that there were multitudes of rough patches, stumbling blocks, backward steps and repositionings required to reach that success. There isn’t a simple solution for everyone, so you have to develop your own way to keep going.
After discussing his issues with his coaches and management team, Dave decided that his current rough patch didn’t really require any major intervention on his part. He decided to follow the first tip and just be persistent. Sure enough, after another week the problems smoothed out and Dave was able to enjoy running his business again. Sometimes the best solutions are the simple ones, and usually, if the solution is too complicated, it’s likely the wrong solution.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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Kingdom Business is in the business of making messy television, and I’m here for it. The gospel drama, which is now streaming on BET+, features a charcuterie board of gripping drama: murder, blackmailing, strippers, sex scandals, dramatic slaps, a killer soundtrack and Michael Beach being trifling.
The show follows Denita Jordan (played by legendary gospel singer Yolanda Adams), the Queen of Gospel Music at First Kingdom Church and Kingdom Records in Atlanta. Despite her many successes, her label is on the brink of financial ruin, and her newest album isn’t pulling in enough funds to keep it afloat. She needs a hit, stat.
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Although the whole season is available to stream, we’re giving you a rundown of the first four episodes, which you can grade in the poll below.
THE INCITING INCIDENT | Rbel (Serayah) is a stripper at Vivide Gentleman’s Club alongside her best friend Dani (Shuford Marie), who was gunned down by an unknown assailant in a black vehicle. Rbel honors her friend at her memorial service by singing a gospel song (with help from a choir), and the video goes viral.
She catches the attention of Taj (Chaundre A. Hall-Broomfield), Denita’s son and the Head of A&R at Kingdom Records, who wants to sign her. Given her spotty background, though, Denita is quick to shut that down. Taj really believes in her talent and approaches Caesar (Michael Jai White) to sign her to his progressive label, Redeeming Records.
LOVER’S QUARREL | Caesar has major beef with Denita, and for good reason. They dated before she married Bishop Calvin Jordan (Michael Beach), and things got serious. But then she got pregnant, had a secret abortion and cut him out of her life. Even worse, she erased his songwriting and producing credit from her album, One Moment From Glory, which went on to be a huge success. Her star rose while he faded into the background, and now he’s fighting her on multiple fronts to regain some of that glory.
For one, he’s filed an injunction on the album, temporarily barring her from performing her most popular songs on the tour that was supposed to save Kingdom Records. He has proof that he wrote and produced that album in the form of a letter by Denita which states that very fact. He’s also throwing his energy into making Rbel a big star. Although Rbel pushes back against his efforts to change her image, she did quit her job at Vivide and is focusing on building her career.
Serayah in Kingdom Business
A DARK PAST |
Rbel still carries the childhood trauma of finding her mother Raven dead in the bathtub. Raven was also a gospel singer who worked with Caesar and was on the brink of major stardom. However, Denita was threatened by her and did everything she could to stifle Raven’s career. Caesar vows to never let that happen again, even convincing Rbel to re-record one of her mother’s songs.
A DIRTY BISHOP | If Michael Beach is going to do one thing, it’s play a man you love to hate. Calvin is married to Denita, but he was sleeping with Dani before she died. Rbel found a jump drive with an incriminating video of him and Dani in a hotel room, which she gave to police — but not before she was assaulted in her own apartment by a masked assailant searching for that evidence.
Calvin looks like a good suspect for the murder, especially since a vehicle registered to Kingdom Records went missing and was later found torched (along with any possible DNA evidence). Trying his best not to get caught, he called up Vivide owner Dex (Sam Malone) to make sure there were no videos of him at the club and asked his friend, the chief of police, for any update on the case. The chief said they have a suspect and would be making an arrest soon, but didn’t reveal who they were circling.
Did I mention that Calvin is also sleeping with Sasha (Tamar Braxton), who works for Kingdom Records? This man hooked up with her in a dressing room while his wife was nearby in the same building rehearsing for her tour. The gall.
DENITA’S BAD DREAMS | Denita’s rotten deeds are seeping into her dreams, and she’s been having some nightmares as a result. Deacon D’Wayne (Kirk Franklin) offered some interesting interpretations: The spotlight moving and leaving her in the dark represents God’s anointing, which no longer falls on her. The black bird is someone she shared God’s faith with, who is no longer there, but they left a remnant in the form of the feather.
Knowing that Rbel is Raven’s daughter, she must represent the feather, while Raven is the black bird. Right?
FAMILIAL WOES | Denita and Calvin’s daughter CJ is depressed after experiencing her seventh miscarriage. When she tells her father she needs help, his answer is to pray with her. But prayer alone hasn’t been working, so she sought out the church counselor, and that seems to be helping.
Taj’s championing of Rbel didn’t sit well with his mother, who promptly fires him. His girlfriend Essence (La’Myia Good) quickly hires him to produce her sexually charged “gospel” song, which he is not a fan of.
She’s also been trying to have sex with him — they’ve been together for three months — but Taj used to hoe around and has been celibate for the last few years. After almost kissing Rbel, however, those principles buckled like Party City paper plates under a summer BBQ spread. Episode 4 ended with him rushing home and humping Essence on their white couch. Seriously? Not even putting down a towel?
What did you think of Kingdom Business’ first four episodes? Grade the season so far below, and then leave your thoughts in the comments.
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Final-hour rally yanks Wall Street from maw of bear market
NEW YORK (AP) — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year. The S&P 500 was down as much as 2.3% for the day before a furious last hour of buying sent it to a tiny gain. It finished 18.7% below its record. The tumultuous trading capped a seventh straight losing week, its longest such streak since 2001. Rising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy are all punishing stocks and raising fears about a possible U.S. recession.
Musk denies sexual misconduct allegation by flight attendant
NEW YORK (AP) — Tesla and SpaceX CEO Elon Musk has denied a claim of sexual misconduct by a SpaceX flight attendant who worked on his private jet in 2016. A report by Business Insider said SpaceX paid the woman $250,000 in severance in 2018 in exchange for her agreeing not to file a lawsuit over her claim. The Business Insider report was based on an account by the flight attendant’s friend, who said the flight attendant told her about the incident shortly after it happened. Musk, who is in the process of buying Twitter, used the platform to respond to the allegation, saying the “wild accusations” are “utterly untrue.”
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Hyundai announces $5.5B electric vehicle plant in Georgia
ELLABELL, Ga. (AP) — Hyundai Motor Group officials confirmed Friday the company will spend $5.5 billion on a huge electric vehicle plant near Savannah that will employ thousands — a deal Georgia’s governor called the largest economic development project in the state’s history. Hyundai Motor Group CEO Jaehoon Chang made the announcement with Gov. Brian Kemp at the site of the future factory in Bryan County, where state and local officials purchased a flat, sprawling tract for $61 million last year in hopes of luring a major manufacturer. Hyundai said it plans to employ at least 8,100 workers at the Georgia plant, where it will assemble electric vehicles as well as vehicle batteries.
Yellen’s global tax plan meets resistance abroad and at home
KOENIGSWINTER, Germany (AP) — Last July, Treasury Secretary Janet Yellen celebrated it as a “historic day” when more than 100 nations agreed to a global minimum tax deal meant to reform and equalize the world’s economy. This week, as she met with Group of Seven finance ministers in Germany, she found herself insisting that prospects for moving ahead with the idea are at least “not hopeless.” The plan is running up against new resistance abroad and old divisions at home as fresh global concerns take center stage. The ongoing war in Ukraine, the threat of rising food insecurity, crushing inflation and other urgent matters have stolen finance ministers’ attention away from putting the plan in place before a 2023 deadline.
Mining companies back away from Brazil’s Indigenous areas
RIO DE JANEIRO (AP) — Some of the world’s biggest mining companies have withdrawn requests to research and extract minerals on Indigenous land in Brazil’s Amazon rainforest, and repudiated Brazilian President Jair Bolsonaro’s efforts to legalize mining activity in the areas. The Brazilian Mining Association, which represents around 130 companies, conducted an internal survey of its members earlier this year. For the first time in decades, none of the companies have current research or mining applications for gold, tin, nickel, iron and other ores in Indigenous areas, he said. Neither the survey nor its results have been reported previously.
Driver must stand trial for deadly Tesla crash in California
COMPTON, Calif. (AP) — A judge says a driver who used a Tesla on autopilot must stand trial for a crash near Los Angeles that killed two people. The judge ruled Thursday that there’s enough evidence to try 27-year-old Kevin Riad for manslaughter. He’s pleaded not guilty to the charges. Prosecutors say Riad’s Tesla Model S hit another car at 74 mph after blowing through a red light at the end of a freeway in Gardena in 2019. It’s believed to be the first felony prosecution in the U.S. against a driver using a partially automated driving system. Tesla says drivers must always be attentive and ready to intervene when the system is activated.
The AP Interview: US trade rep. sees opportunity in recovery
BANGKOK (AP) — The top U.S. trade negotiator says with world economies all suffering from more than two years of the coronavirus pandemic and global supply problems exacerbated by Russia’s invasion of Ukraine, the United States has an “incredible opportunity” to engage with other nations and forge new partnerships and agreements. Ahead of a planned announcement with President Joe Biden of a new Indo-Pacific Economic Framework, U.S. Trade Representative Katherine Tai told The Associated Press that the time is ripe for the proposal. She says: “I don’t think anybody’s economy is stronger because of COVID and there is a pretty pervasive sense of anxiety about how we recover. I actually think that this presents an incredible opportunity.”
Farmer sues VW over climate change; German court has doubts
BERLIN (AP) — A court in Germany cast has doubt on claims by a German farmer that automaker Volkswagen is partly responsible for the impact that global warming is having on his family business. The plaintiff alleges that drier soil and heavier rains due to climate change are harming his fields, cattle and commercial forests. He claims that VW as the world’s second-biggest automaker has contributed to the damage. But German news agency dpa reported that a regional court in the western town of Detmold asked the plaintiff on Friday to provide more details to back up their arguments. The case is supported by Greenpeace, which has backed similar legal efforts in Germany to hold companies and the government accountable for climate change.
The S&P 500 ended up 0.57 points, or less than 0.1%, to 3,901.36. The Dow Jones Industrial Average rose 8.77 points, or less than 0.1%, to 31,261.90. The Nasdaq fell 33.88 points, or 0.3%, to 11,354.62. The Russell 2000 index of smaller companies dropped 2.96 points, or 0.2%, to 1,773.27.