The Payroll Protection Flexibility Act signed into law

Uncategorized Jun 05, 2020
It's official: On Friday, June 5th, President Trump signed the Paycheck Protection Flexibility Act into law.

What's the PPFA all about? 
 
The most significant issue affecting business owners was the 8-week timeframe to spend the money from the PPP loan.
 
Many businesses remain closed, while others must operate at limited capacity. The forgiveness guidelines issued by the SBA made it difficult for those business owners to obtain full forgiveness of their loan. The new bill now extends this period to 24 weeks.

Here are some of the most significant amendments to current law and regulations included in the bill:    
•    Extends the time in which businesses must use the funds from eight weeks to 24 weeks, or December 31, 2020
•    Amends the 75/25 rule to 60/40 for how much businesses must spend on payroll versus non-payroll costs
•    Pushes back the safe harbor deadline to rehire...
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Michael King - 3 Boundaries for a Healthier Work Life Balance - Podcast Episode 25

Uncategorized Jun 04, 2020
 
Michael is a life-long learner, a military veteran (Go Navy!), and a servant leader dedicated to helping you achieve success in business.
 
In 2010, after serving 11 years in the US Navy, Michael ventured into the business world.  He was quickly overwhelmed by all the fancy finance and accounting jargon - and it seemed like no one could explain it to him in "regular people" words.
 
Michael made it his mission to crack the code of finance and accounting.
 
After 10 years, an MBA, and the experience of working with over 200 businesses, Michael has dedicated himself to helping other business owners, ESPECIALLY THOSE THAT AREN'T NUMBERS PEOPLE, understand their numbers so they can make better decisions in business. 
 
Connect with Mike:
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Michael King - How to Earn Commitment From Your Team - Podcast Episode 24

Uncategorized May 28, 2020
 
Michael is a life-long learner, a military veteran (Go Navy!), and a servant leader dedicated to helping you achieve success in business.
 
In 2010, after serving 11 years in the US Navy, Michael ventured into the business world.  He was quickly overwhelmed by all the fancy finance and accounting jargon - and it seemed like no one could explain it to him in "regular people" words.
 
Michael made it his mission to crack the code of finance and accounting.
 
After 10 years, an MBA, and the experience of working with over 200 businesses, Michael has dedicated himself to helping other business owners, ESPECIALLY THOSE THAT AREN'T NUMBERS PEOPLE, understand their numbers so they can make better decisions in business. 
 
Connect with Mike:
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Mike Ayala - When The Wrong Growth Results in Laying Off 40 People - Podcast Episode 23

Uncategorized May 20, 2020
 
Mike is an investor, speaker, podcaster and founder of Investing for Freedom. Mike helps busy professionals and business owners find true freedom to live their best life. He’s also co-founder of Four Peaks Capital Partners, LLC. His scope includes operations, management teams, development, and chief people officer. He also co-directs the overall investment strategy along with Andrew Lanoie. Mike has over 22 years of experience in finding freedom by building teams and streamlining operations. By age 24, Mike founded his first construction company and has been involved with over 2,000 projects totaling over $1 billion, including hospitals, courthouses, federal buildings, casinos, mills, gold-processing facilities, civil projects, multi-family homes, and shopping centers. Of the companies he started, most notable is the construction company that scaled quickly to more than 100 employees and sold at a $12 million valuation, making it onto the Inc. 2009 “2500 Fastest Growing...
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Revenue is vanity. Profit is sanity. But CASH IS KING!

Uncategorized May 13, 2020
 

In this video I'm talking about the key differences between revenue, profit, and cash.

I'll explain how a profitable business can struggle to make payroll or even go bankrupt and I also give a tip to help keep you focused on the right thing.

I also give a throwback shoutout to Episode 1 of In the Trenches with Michael King which can be found here.  I talk with Ashley Altum (a CPA!) about her journey to near-bankruptcy in her business because she was focused on revenue and profitability and took her eye off cash.  Check this episode out if you haven't heard it! 

 

 

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Jillian Ryan - When Revenue Success Does NOT Equate to Profit Success - Podcast Episode 22

Uncategorized May 13, 2020
 
After spending a decade advising Fortune 100 clients on how to conduct and facilitate responsible investment in Africa, Jillian wanted to do more to support entrepreneurs in these emerging markets. Blending Jillian's business expertise with her penchant for fine paper products, Marie Mae became her vehicle for making a difference in the world.
While launching Marie Mae, Jillian realized starting a business involves far more than the theories she learned in business school. This is why the Marie Mae Business School focuses on providing practical business training taught by people who have started businesses themselves.
Marie Mae is more than a simple “give back” company. From our vendors, to our customers and clients, to the people in our business school, Marie Mae equips each of our stakeholders to make a sustainable impact through business.
 

Connect with Jillian:
Instagram - Company Personal
Facebook
LinkedIn - Company Personal

Connect with Michael:
Michael King
...

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The risk of waiting too long to get an LLC set up

Uncategorized May 13, 2020
 

In this video, I talk about some of the risks that you may not know about when deciding to put off creating an LLC.

I talk about the 3 steps you need to take to protect your personal assets from your business.

And I give an amazing Beyonce metaphor that explains a mindset shift that occurs when you decide to get an LLC and treat your side hustle like a business.

Disclaimer: this video is intended for general informational purposes only and is not intended to serve as legal or accounting advice.  Consult with an attorney or tax/accounting professional (like me!) if you have specific questions about your circumstances. 

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Skot Waldron - When You Realize You're Not the Leader You Thought You Were - Podcast Episode 21

Uncategorized May 06, 2020
 

Skot Waldron comes from a family of entrepreneurs.

Over the course of four years, Skot started a built a branding agency in Atlanta and took it to high-six figures in revenue.

Things were going well until he found himself frustrated, unfulfilled, and hitting a financial ceiling.

He realized that his leadership style and communication style needed an overhaul before his business could reach its full potential.

Skot shares key lessons about how our internal health, as people and as organizations, impacts our external health and how well we serve our employees and our clients.

 

For the past 18 years, Skot Waldron’s work for clients such as J.P. Morgan Chase, CDC, Georgia Tech, Royal Caribbean, Sesame Workshop, Chiquita, and The Coca-Cola Company has included national and international branding campaigns.
 
His focus is on helping businesses and entrepreneurs learn how to communicate more effectively as individuals, teams, and companies. Skot believes you have to be...
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Gaurav Valani - 77 Emails to a Deal with Elon Musk - Podcast Episode 20

Uncategorized Apr 30, 2020
 
About Gaurav Valani:
Over the past 12 years, I’ve learned the exact strategies successful people use to not only land high paying jobs at some of the top companies in the world, but how they also move up in their careers after they've landed those jobs.After applying what I learned to my own career, I went from 10 dead-end jobs during the first 6 years after college, with no direction, no passion and minor depression to becoming a co-founder of a $72M staffing agency (prior to acquisition), and landing a high-level executive position at one of the most reputable publicly traded companies in the world.I’ve compiled all of the knowledge that I gained throughout my career to help thousands of people land six (and even seven) figure jobs at companies such as: Google, Disney, Warner Bros., Coca-Cola, Kaiser, AT&T, Facebook, Amazon, Netflix, Airbnb, SpaceX, and more.
 
 

 
Connect with Gaurav:
Instagram
LinkedIn
Twitter

Connect with Michael:

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Samantha Kozuch – From Startup to Out of Business in 36 Hours - Podcast Episode 19

podcast Apr 23, 2020

Samantha Kozuch is an ex-fitness influencer who pivoted her brand after many started asking her for help on how they too could grow and monetize their following. In 2019, she took a huge financial risk by shutting down her 6-figure video production company while also breaking thousands of dollars worth of influencer contracts with infamous brands to go all-in on launching her business courses teaching both influencers and entrepreneurs the importance of building a list outside social media and how to build a personal brand, grow an engaged following, pitch to land paid partnerships and methods to monetize social media platforms by selling products and services; and by taking the risk of going “all-in” allowed her to 10x her income!

She’s passionate about helping influencers and entrepreneurs ‘think beyond their follower numbers' and monetize their social media accounts using her Social Media Funnel Blueprint. She teaches using “soul and goal”...

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