August Newsletter- Entrepreneurial Center of Northwest CT

August 2017 Newsletter Look for our Fall 2017 Small Business Series in our next newsletter

Summer Small Business Series
Taxation for Small Businesses
Mon, August 14, 20176:00 PM – 7:30 PM EDT
Noujaims Bistro 436 Main Street Winsted, CT 06098
Description:Every business owner needs to have a working knowledge of accounting and taxes. Taxes affect your business and personal assets. There is nothing worse than working hard during the year, only to see profits shrink due to paying more than your fair share of taxes. Come learn about the relationship between your businesses financial statements and your tax returns; different kinds of taxes affecting your business and filing responsibilities. Discuss the various organizational structures for businesses to get a better understanding of the tax pros and cons of each. Do you have questions about federal taxes, state taxes, payroll taxes, sales tax, use tax and personal property tax? Do you currently review tax-planning strategies with your tax professional? Kristen Roberts will help you understand your reporting and compliance responsibilities, help you understand the tax implications of organizational structure and guide you on how to take advantage of tax planning strategies that can reduce the tax liabilities for you and your business.Presenter:Kristin Roberts, MBA, is a highly qualified tax professional with almost twenty years of experience representing clients before federal and state tax agencies. In her comprehensive tax practice, Kris concentrates on the special accounting and tax preparation and consulting needs of corporations, multi-state entities, as well as limited liability companies, partnerships, and fiduciary entities. Kris also has extensive experience assisting her clients with tax audits, offers in compromise, individual tax planning, payroll taxes, and amended returns.

Marketing for Small Businesses Sunday, August 20, 201711:00 AM- 1:00 PM New Boston Inn, Sandisfield, MA
No cost CLICK HERE TO REGISTER Or Contact Jane Williams
NCCC Entrepreneurial Center Sponsored by Northwest CT SCORE, NCCC Entrepreneurial Center of Northwest CT and The New Boston Inn

Description:Are your marketing efforts successful in growing your small business? Find out what topics and concepts you should consider when creating an effective small business marketing plan - market analysis, business differentiation, brand development, promotional options, internet and social media, etc.Presenter:Seth Duke is a marketing and communications executive with 10 years of experience working with small for profit and nonprofit businesses in NW Connecticut. He has served on the Board of Directors of several organizations including The Hispanic Coalition of Greater Waterbury and is currently Marketing Director at O&G Industries - one of the largest construction companies in the country. Seth is a member of SCORE and is a Certified Business Mentor.   

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5 Ways to Turn Mental Challenges Into Unstoppable Strengths       
Lain Ehmann,June 20, 2017, Success Magazine Online High achievers are a different breed.They exist for weeks during business crunch time on a diet of vending machine snacks and caffeine. They forgo sleep, food and personal hygiene in favor of a company goal. They maintain single-minded focus and spend hours discussing the finer points of a red border versus blue border on the home page. They love to work, and it shows, particularly inthe sacrifices they re willing to make to ensure their ventures succeed.What some people might call “obsessive” looks a lot like entrepreneurial success. And, indeed, there’s a thin line between healthy and overboard.If you’ve ever thought (or been told) that your commitment to your work was a bit—ahem—outside the norm, you’re not alone.According to a paper published by Michael A. Freeman, M.D., and his fellow researchers at the University of California, San Francisco and Stanford University, almost three out of four entrepreneurs report suffering from some form of mental health concern, much higher than the national average.1. Stop feeling like there’s something wrong with you.Within the entrepreneurial world, those dealing with issues, such as depression, ADD or OCD are the rule, rather than the exception. “I have seen this over and over again in my millionaires,” says author and coach Jaime Masters, who has interviewed more than 350 millionaires for her Eventual Millionaire podcast.“I was very surprised in the interviews I’ve done how many said they have dyslexia, how many said they have ADD,” she says. It is more common than not at the higher levels of the business world—and you can use these tendencies to your advantage.2. Take care of your basic needs.All entrepreneurs need to watch their health, but it’s even more critical for those who might tend toward neglecting their nutrition, sleep and other basics in favor of a 100-hour workweek. Charfen encourages his clients to move regularly, hydrate sufficiently, meditate consistently and eat well, all in an effort to combat the stress they’re dealing with from building, running and growing a business.3. Create an early warning system.If you’re prone to the highest of highs and lowest of lows, know your cycles and triggers. Seek help when you need it. Maybe you know you’re more susceptible to depression in the dark winter months, or that you experience an energy crash after a period of sustained effort and long work hours. Be ready with your remedies—self-care, therapy, vacation, sleep, etc.—when those downtimes come.4. Keep it simple.Jokes about “entrepreneurial ADD” abound for good reason. Masters says, “Because we’re so creative, it can feel a little jagged, like our brain is running us instead of us running our brain.” One solution: Keep as many elements of your life as simple as possible so you can focus on the areas that really need it or will benefit from your attention and creativity (Steve Jobs’ daily uniform of jeans, sneakers and black turtlenecks, for example). “Far too many entrepreneurs try to overcomplicate things,” Charfen adds.5. Outsource your weak spots.Many high performers are more big-picture visionaries than detail-oriented sticklers. Couple that with an entrepreneurial ADD, and you might struggle with starting new things before finishing old things. Don’t try to tame yourself, though. Instead, Masters suggests hiring for the skills you lack. Find someone to take care of the details so you can stay in your center of genius. “Focus on your strengths,” she advises.In sum, work with your natural flow and tendencies rather than against them. Not everyone will understand why you stay up until 5 a.m. and then sleep until 3 p.m.—and they don’t need to.Your uniqueness is what will bring you to the top and that’s when the naysayers will back down. Know yourself, know your goal and do what it takes to keep yourself moving in the right direction.Interested in our Mentoring Program?

If you are a business looking for support from someone in your industry OR An established business willing to provide mentoring and coaching....PLEASE let us know and we'll get you teamed up!


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