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Why Health is Important to Your Business.

Revenue, profit, or growth focus on only one aspect of your business, but health is a more telling measuring stick. Health is the cumulative wellness of your business in the long run, ensuring:

  • Your vision for the future
  • Your growth and profits
  • The health and engagement of your employees
  • Your strategic systems and partnerships

We all know businesses with enormous growth numbers but unhealthy practices will eventually fail. We also know a healthy business with modest growth numbers will eventually succeed.

We are in the business of building healthy businesses for the long term. We believe that small businesses are stronger and more agile through partnerships.

To all you small business owners with really big ideas, we care about your health. The health of your employees. The health of your bottom line. And we work to simplify everything as your long-term partner in business health.

Healthy Business Checklist

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The Three Pillars of a Healthy Business

Business health is a lot like physical health — you take it for granted until you get sick. Businesses see more profit, more success and more longevity when they proactively maintain the three pillars of a healthy business (before they get sick): create a vision for where you’re headed, develop reliable and efficient systems, and build a healthy and happy culture.

  1. Healthy Vision

For pragmatic business owners, “vision” can sound a lot like “fantasy.” Something that is unrealistic, likely unattainable and therefore not worth spending focused time on. But a healthy business vision is realistic and attainable. The time you spend focusing on your vision will come back to you tenfold – in profit, growth and efficiency.

  1. Healthy Systems

Most business owners take on more responsibility than they should — and work more than is healthy. Systems are the processes, tools and partnerships that make it possible to have balance, focus and time management.

  1. Healthy Culture

A healthy culture is an investment that pays enormous dividends to the overall well-being of your company and directly improves your bottom line. A healthy culture encompasses employee satisfaction, productivity rates, company values, and the overall function of human resources.

This is a 4 -part blog covering the three pillars of a healthy business and offers key tips and strategies on how to make your business healthier, starting today.

Patrick S. Harris runs a financial and professional services company in San Francisco serving clients nationwide. Patrick can be reached directly 415.691.7215; patrick@psharrisco-com

Healthy Business Checklist

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Healthy Vision

What is a healthy vision?

Imagine your business five years from today. What does the office look like? Who is working in the office? What kinds of new products and new customers do you have? What revenue and growth goals are you reaching? What kinds of obstacles are you facing? A business vision is not a mission statement, or an excel spreadsheet. It’s a mix of practical and hopeful. A business vision generates tangible goals and a plan for how to achieve them.

Why is a healthy vision important?

When we’re clear on where we want to go, we are more able to cut through the noise and the day-to-day of our work and make strategic impactful decisions. We can invest in solutions and partners proactively, instead of reacting to unforeseen obstacles. And, we can rally our team behind us — ensuring everyone is focused on the same goals.

Healthy Business Checklist

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How do I create a healthy vision?

Businesses with a healthy vision generally:

  • Can easily explain their vision for the future
  • Have a five-year plan for business growth
  • Are focused and strategic, not reactive
  • Are familiar with industry benchmarks and know how their business aligns
  • Invest in talent, resources and solutions that support the long-term business vision

Your business vision can be as formal or informal as you want. Write it on a napkin or paint it on the wall of your office. Review it regularly and change it as your business grows. What’s most important is that you can clearly share your vision with your employees and partners, so your entire organization stays on track.

This is a 4 -part blog covering the three pillars of a healthy business and offers key tips and strategies on how to make your business healthier,starting today.

Patrick S. Harris runs a financial and professional services company in San Francisco serving clients nationwide. Patrick can be reached directly 415.691.7215; patrick@psharrisco-com

Healthy Business Checklist

DOWNLOAD

Send download link to:

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Demystifying Tax Credits for Small Business

There are four industries that matter most when it comes to research, development, and innovation. These are medical, manufacturing, energy, and technology industries. From more streamlined solutions to a greater emphasis on safety, these areas of business are constantly and rapidly expanding and evolving. This is primarily because these fields are crucial to the daily lives and livelihoods of Americans, and citizens around the world. 

Innovation and creativity are heavily encouraged among businesses involved in medicine, manufacturing, engineering, and technology. Because when companies in these sectors thrive, citizen lives get significantly more convenient. From nanotechnology in medicine to green hydrogen being utilized in the energy industry,  entrepreneurs use this progress to improve human lives and the environment around us. 

As advancements continue though, and small businesses involved with medicine, manufacturing, energy, and technology focus on advancing, staffing and overhead costs can easily become unmanageable. This is where government tax credits, rebates, and incentives can save these small businesses hundreds of thousands of dollars. 

Is Your Small Business Missing Out on This Opportunity?

Operating a small business in the medical, manufacturing, energy, and technology industries can be quite challenging. Not only is there a decently high overhead to worry about in companies like these, but staffing employees and coming up with new solutions carries its own set of challenges. This is why it’s quite disappointing to realize that fewer than 5% of businesses in these sectors ever attempt to take advantage of available rebates and tax incentives. In fact, of the small percentage of businesses that do claim available tax credits and incentives, more than 80% of them are billion-dollar companies. 

Small businesses who take advantage of tax credits and rebates are granted an improved ability to focus on conducting research and running their business, instead of worrying about funding and finances. They can also enjoy a much lower tax rate, and greatly improve their market value for years to come. Ensuring a small business qualifies for these incentives is so much more than cash from the IRS. It can benefit a company for years into the future.

Ways to Earn Available Tax Credits

There are a number of qualified activities that you can involve your small business with to help lower your tax liability and earn money back into the bank. Businesses can earn credits for all sorts of different activities too, like the way they treat their employees or how they care for the environment. 

Helping your small business qualify for earned incentives doesn’t have to be confusing or challenging either. There are three simple ways you can start today, including to:

  1. Involve Your Small Business with Research Now

R&D tax credits and incentives are some of the best for small businesses to take advantage of. Businesses in the medical industry might consider designing a new product, while one in the energy field could generate a new approach. The more involved your small business is with research, innovation, and development, the more you will qualify for. 

  1. Utilize Engineering or Technology to Improve Safety

Utilizing technology to facilitate growth and further advancement is one of the best ways for small businesses to qualify for government tax credits. By utilizing new and innovative approaches for common problems, your business could be responsible for improving outcomes around the world. 

Should I Work with a Professional?

While navigating tax credits and incentives as a small business doesn’t have to be a complicated process, it can still be one that requires some understanding and experience. To earn the most money back, and ensure that your small business is taking advantage of all rebates you might be entitled to, working with an experienced professional is the best course of action. Tax professionals with credit experience, especially relating to small businesses in the medial, manufacturing, energy, and technology sectors, know all there is to know about navigating tax credits and incentives. With many different cost-reduction strategies, and years of expertise, a professional from Project Blue can help any small business earn more money than they could have imagined.

Patrick S. Harris runs a financial and professional services company in San Francisco serving clients nationwide. Patrick can be reached directly 415.691.7215; patrick@psharrisco-com