Do you need to get data from one app to another?   If so, it’s time to check out Zapier.

You might be moving data manually from, let’s say, your shopping cart to your CRM or from Evernote to Google Docs, or something like that.  Zapier allows you to automate the process with what they call a Zap.

In the Zapier app, click Make a Zap, and you’ll see two dropdown menus:  Trigger app and Action app.  Your trigger app is the one where the data is stored and your action app is the one where you want the data to be moved to.

Continuing the shopping cart example above, you would choose your shopping cart app as the trigger app.  Zapier support BigCommerce, Ontraport, Infusionsoft, Shopify, Magento, and more.  It will then ask you for details about the transaction and the type of data you want to port over.  Your action app will be your CRM, and Zapier supports dozens of them.  It will ask you for your user ID and password for each application and some more specifics about the type of data you want to transfer.

You can run your zap one time or every fifteen minutes, depending on the nature of your data transfer.  Here are some ideas to get your creative juices flowing:

  • From Evernote to Google Calendar, add an event.
  • From your blog to Facebook, post your latest blog entry.
  • Create QuickBooks Online sales receipt from PayPal
  • Create QBO customer from Salesforce (or other CRM)
  • Create Constant Contact contact from QBO customer
  • And several thousand more combinations!

The admin time you will save will amaze you.  Data entry and moving data around is truly becoming a thing of the past.  You can go to Zapier.com and create a free trial.  There is a charge for a larger number of zaps.

And, as always, if you’d like our help, please reach out.

Holding your own event is a great way to meet new people and allow them to sample your business in a low-risk setting.  A face-to-face event allows you to build trust quicker than many other marketing methods, and trust is almost always required before a sale can be made.

Types of Events

Some of the more popular types of events you can hold include:

  • A seminar or class
  • An open house
  • A neighborhood sale
  • A networking meeting
  • A reception or party or celebration or festival
  • A conference

If you’re new to holding events, start small and/or join with another business so that you’ll have a larger number of people to invite.

Participants

Once you’ve decided on the type of event you want to hold, you’ll want to determine who you will invite.  Will it be clients only?  Will you join with other businesses and combine your lists?  You’ll want to invite a larger number of people than you might think.  If the event is free, there may be several no-shows, even if they have RSVP’d.   The more formal the event, the fewer the no-shows.

Topic or Purpose

For the best turnout, choose a topic that’s interesting to your clients as well as relevant to the services you offer.  Provide education that the customer needs, a new money-making strategy, a new product or service roll-out, or something that will affect your customers’ well-being, and you’ll experience the best turnout.

Spread the Word

Now that you’re ready to hold your event, it’s time to get the word out.  Plan on sending multiple emails (more than you might be comfortable with) to let people know about your event.  Email is a good way to notify people, but if you have the budget, mail invitations.  Call the most important people and let them know you want them at your event.

Have Fun and Make Money

Be sure to have a high ratio of staff to guests so that more than one of your staff can meet each person.  Enjoy your event, and hopefully, you’ll be able to get to know many future customers there as well.

Some numbers need reviewing on a daily basis, and one example of this is cash.  When cash is coming in from a number of places, it’s great to have a daily summary of what was collected.

It’s also great to make sure all the collections hit your bank account so you can feel confident that no errors were made along the way.  A daily cash reconciliation report will serve both needs very well.

A daily cash report will vary depending on the type of business you have, but it will look like a combination of a bank reconciliation and a sales report wrapped into one.

If you are managing your cash closely from day to day, then this report will help you stay sane.  You’ll need two very brief spreadsheets to get started.  The first one below is your daily sales from all sources.  Your accounting system may be able to generate this.

Today’s Sales
Cash$300.00
Checks$600.00
Total Bank Deposit$900.00
Mastercard Visa$400.00
American Express$200.00
Total Credit Card Due$600.00
PayPal$100.00

If your accounting system is up to date, all you’ll need to do is pull the cash balance and adjust for today’s activity.  The following day, you can double check your accuracy and adjust accordingly using the last two rows.

Daily Cash Report
Book Cash Balance$5,000.00
Deposit from Today’s Sales$900.00
Merchant Deposit$600.00
Less Checks Written Today($1,200.00)
$5,300.00
Expected Bank Balance Tomorrow$8,300.00
Actual Bank Balance$8,300.00
Explain any differences

If your accounting system is not updated in real time, you’ll need to start with the bank balance and correct it for uncleared transactions as well as list today’s activity.

Daily Cash Report
Bank Balance$5,000.00
Deposit from Today’s Sales$900.00
Merchant Deposit$600.00
Less Checks Written Today($1,200.00)
$5,300.00
Checks Still Outstanding($3,000.00)
Deposit from A/R Paid$5,000.00
Expected Bank Balance Tomorrow$8,300.00

 

Using these formats, you can easily extend them to cover the entire week.  This way, you’ll know what your cash balance will be from day to day.

If you see the value of this report for your business and would like help creating it, please reach out.

Have you ever been in a situation where there’s no internet and you needed it?  Or perhaps you’re at a hotel and don’t want to pay the extra $15 per day for wireless internet.  If so, you’re not alone, and luckily, there’s a gadget for just about everything.  This time, it’s a gadget you probably already have:  all you need to do is whip out your cell phone.

iPhone

Your cell phone can act as your wireless modem.  Plug the iPhone into your PC using your USB connection.  Go to Settings on your iPhone and one of your settings will be labeled Personal Hotspot.  Tap it and toggle it to “on.”  Set a password.

On your PC, view your wireless internet connections, and the name you’ve given your phone will show up.  Click to connect and enter the password you set on your phone.

Voila, internet!

Android

If you have an Android, tap More… and select Wireless and Networks, then Tethering and Portable Hotspot. Check Portable Wi-Fi hotspot. Tap Portable Wi-Fi hotspot settings and you can edit the Wi-Fi network name, and choose a password.

On your PC, view your wireless internet connections, and the name you’ve given the Wi-Fi network will show up.  Click to connect and enter the password you set on your phone.

Fees

Ask your cell phone network provider if this hotspot feature is included in your package or is an extra charge.  You may also have to call then to enable this feature.

Once you’ve used this once, you’ll be hooked.  You now have a new internet access alternative anywhere you have cell phone coverage.

Sales tax laws are constantly changing, and sales tax audits have increased since states and local agencies have become creative about finding new ways to generate revenues.  If you haven’t made any changes in your sales tax procedures in a while, you are probably at risk.

Taxability

From state to state, the taxability of items varies.  For example, data processing services including web hosting and graphics are taxable in Texas but not California.  Because of these intricacies, it makes sense to consult an expert in this area.  Some states have been taxing certain services for many years now.

Nexus

The new buzzword in sales tax is “nexus,” which simply means presence.  If your business has a presence in a state, then certain items you sell could be taxable.  “Presence” is a little gray, but here are a few examples of some characteristics that the courts have decided prove nexus.

  • If you have employees or contractors working in a state, you are liable to collect and remit sales tax.  This can play havoc if you hire virtual or remote workers.  Even if they are part-time, you have nexus in that state.
  • If you outsource inventory fulfillment in any way (think Amazon sales), you have nexus in states where there is a physical warehouse that houses your products.
  • If you own business property in a state, you must file sales tax.
  • If you participate in trade shows or are a public speaker, you have nexus in states where the conferences are held.

The Risk

If you fail to collect taxes where you should, the risk is easy to calculate.  Take the potential taxable sales times the sales tax rate, and add any penalties.  The numbers get scary if you’ve been in business for several years.

Let’s say your annual revenues are $5 million.  You didn’t realize that your Texas sales were taxable, and this amounts to 10% or $500K.  Your tax liability is $41,250 per year.  If you have been doing it wrong for five years, well, you can add it up.  Add penalties on top, and it’s not a small amount.  It can wipe out your entire year’s profit.

Sales tax liability becomes more important if you plan to sell your business.  A traditional valuation will always include a sales tax risk analysis.  Even if you don’t plan to sell, the odds of you getting audited or a disgruntled employee blowing the whistle can be too much to risk.

If you want help calculating your risk or assessing nexus or taxability for your business, reach out and we can help.