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A quick question for you – Do you know the secret behind the 4 successful businesses generating as much as $400,000 I’ve built over the last few years?

The answer is simple: honing in on personal purpose and LEVERAGING it into multiple in_come streams!

It’s the heart of success in today’s information economy, and a CRUCIAL step if you want to get out of the trap of one-to-one, “dollars for hours” services. And yet, much of what we’ve been taught about how to do it is WRONG!

Now I’m ready to pull back the curtain and show you EXACTLY how I’ve managed to leverage my purpose into 23 books, more than 15 info products and certification programs, hundreds of teleclasses and presentations and tons of profits with my BRAND-NEW, F*R*E*E teleclass “Purposeful Branding Secrets: How to Quickly and Easily Turn Your Purpose into Multiple In_come Streams While Increasing Your Cash Flow, Clients and Consciousness” on May 6th.

On this ground-breaking call you’ll learn:

• The #1 thing you need to focus on to grow your business to the next level in TODAY’s climate (Most business owners over look this!)
• 4 simple steps to finding the essence of your brand so your clients will flock to you! (This is the EXACT same formula I have used to build my successful 6-figure businesses!)
• My secrets to creating dozens of programs and products from  a SINGLE idea (This is how I have managed to author so many books  and create dozens of programs – including coach certifications – using one simple tool.)
• Exactly how to structure your Product Funnel so that your clients become customers for life and keep on buying – so you can spend less time marketing.
• Why traditional marketing no longer works – and what you need to be doing instead (This is why so many solopreneurs are struggling now – they haven’t made this critical shift!)
• How I have created a freedom-based lifestyle that allows me  to work from anywhere while continuing to grow my business – and you can too!

Reserve your spot in this complimentary teleclass here:

http://www.PurposefulBranding.com

Blessed Mother, Sacred One
We celebrate you for the job you have done
Supporting us, nurturing us,
Providing for all of our needs.

Blessed Mother, Sacred One,
Forgive us for the things that we have done
Polluting you, trampling you
All in the name of human greed.

We feel your rhythm,
We hear your sounds,
We see your beauty
And it truly abounds.

Help us to heal you
Help us to see
That by caring for you
I’m really caring for me.

Blessed Mother, Sacred One,
Look at the potential in all we have done:
Technology, ceremony,
Restoring the wholeness – for now we can see.

While I’m not an accountant or an attorney (any more!), it is tax time and I am paying my taxes along with the rest of us.  So I thought it would be helpful to provide a few basic guidelines for tax deductions for the small business owner and be sure you’ve taken advantage of these legal benefits of having your own business.

Business Operating Expenses

Many expenses are deductible against your business revenues.   These reduce your taxable income from your business activities.  Whether or not an expense can be deductible depends on several factors:

1.  Was the expense “ordinary and necessary” for your business?  The IRS defines ordinary as “common and accepted in a field of business,” and necessary as “helpful and appropriate to your business.”

2.  Did it relate to a business (as opposed to personal) activity?  A mere hobby does not qualify for the business deduction.

Adequate records will be required for all expenses as well as items that are amortized (where a portion is depreciated each year) over a period of years.

Some examples (not a complete list) of common expenses that are deductible to a business include things like advertising, bank service charges on business accounts, commissions paid, costs related to the sale of goods, dues, business gifts, office expenses, office rental, travel expenses, independent contractor services and more.

Other business-related costs and investments may not be directly deductible but may be eligible for other favorable tax treatment.  For example, certain start-up costs are amortized over a longer period of time.  Capital expenditures in equipment and furnishings can be deducted up to a certain annual limit; above that limit, amortization and depreciation are required.  There are other exceptions to the deductibility rule, such as home office deduction, and business use of an automobile.

And the list of expenses that are neither deductible nor amortizable is even longer!  Representative expenses that do not qualify for deduction (not a complete list) include bar or professional examination fees, charitable contributions or gifts by non-corporation, country club dues, commuting expenses (with some exceptions), job search expenses and more.

Retirement For The Self-Employed

As a self-employed business owner, you can deduct up to 25 percent of your net income to a Self-Employed Pension or SEP.  Other retirement options include IRA, Simple IRA and others.  Don’t forget to put some of your hard-earned money away for the future – and get a deduction too!

Your Coach Training And Other Education

Up to $4000 in tuition is deductible if you are below the adjusted gross income ceiling of $65,000 single, $130,000 couple (and if you have higher AGI, you can still deduct $2000).  IRS Topic 302 addresses this.  Check with your tax professional as to whether a coaching school qualifies as a “post-secondary institution.”

Home Office Deduction

If you work from home, you can deduct, for your home office, the percentage of mortgage, utilities, insurance, taxes, repairs and related homeowner expenses allocable to the number of square footage your home office is divided by total square footage of the home. 

Business Entertainment

If you take clients to lunch, buy them tickets to an event or conference, travel on business or otherwise enjoy meals or other listed entertainment expenses, you can deduct a percentage of it on your taxes (often 50%).

Health Insurance

Any medical insurance you pay for yourself can also be deducted against your business income.  Certain other uninsured medical expenses, including nonprescription medications, acupuncture, and eyeglasses, are also normally deductible.

Business Assets

Did you buy a computer, printer, projector, software, or other items for your business this year?  If so, you can usually write off the cost of those items (up to an ever-increasing ceiling) under Section 179 of the Internal Revenue Code.

Business Mileage

Since many coaches work from home, any transportation to see a client, attend a meeting, pick up mail or do other business errands is usually deductible as business mileage.  Commuting to and from one’s office is always excluded, but with a home-based business there would be no commuting to eliminate. 

For further details and the current requirements, please consult your tax advisor or see online resources such as CCH’s Business Owner’s Toolkit at http://www.toolkit.cch.com/text/P07_2510.asp or the Internal Revenue Service’s Tax Guide for Small Business, available on their web site at www.irs.gov.  The IRS offers streaming video classes as well as Power Point presentations on its web site regarding deductible business expenses.

And for a full course on your start-up – including legal, accounting, and helpful logistical issues such as phone systems, software, where to get funding and more, get our Jump-Start Your Purposeful Business e-course (or join our class in progress) today!  www.purposefulentrepreneur.com/jumpstartbiz.html

Should you be incorporating your business?  What should you put in your business plan?  How to you calculate what to charge?

These and similar questions face every new business owner.  And when your goal is to establish a purpose-based business, you also need to learn to manage your mindset, explore your relationship with mon_ey, find ways to streamline from the start, and more.

If you are starting (or restarting) a business – or about to – and don’t know the step-by-step process to navigate establishing your business name, legal issues such as incorporating, contracts and more, bookkeeping, fee setting, the logistics of your shopping cart and how to take credit cards, as well as clarifying you vision and implementing it – then won’t you allow me to mentor you?

Successful people seek out help when they know they need it – and startup is an area fraught with minefields!  Starting tomorrow, Wed., March 24, I’ll be sharing ALL my sec_rets with you in a 5-week teleseries, “Jump-Start Your Purposeful Business.”

Don’t struggle and wonder if you forgot something – let me walk you through it all!  Just visit www.purposefulentrepreneur.com/jumpstartbiz.html for details! (Convenient payment plan available too.)

Do you have a tendency to base decisions in your life and business on what is happening in your external environment?

For example:

• You shop at more than one store for groceries because “they” (the other store) has a discount or bargain on a few items?
• You drive less because gas prices are (or were) up
• You don’t market as much because you keep hearing that things are tight, the stock market is down, or it’s the holiday season
• You spend hours on the computer planning a trip – whether business or pleasure – trying to get the very lowest price for your hotel and airfare (and then when you arrive find out it really IS “discount” – in quality too!)

If you find yourself doing any of these things, consider that it is because you have not yet adequately embraced the principle that “Nature is an inexhaustible storehouse of riches. The supply will never run short. Original substance is alive with creative energy and is constantly producing more forms.” (Wallace Wattles, The Science of Getting Rich).

Perhaps you are waiting to promote your services or launch a new program because of the economy, the holidays, or any external reason, there are at least four important reasons why this will actually be detrimental, not “wise.”

1. There are actually more opportunities, not less, for coaches and other entrepreneurs in the down economy.

First, while coaches can thrive in any economy, they have increased opportunities when there are more layoffs and downsizings than are typical. After all, with more people in transition, there are more people that need our services! Tailor your marketing and the benefits you emphasize to the current conditions – getting a job or building your business more quickly vs. slow expansion or bettering one’s financial situation through a promotion – and you will have people lining up to work with you.

2. By not promoting and pursuing expansion of your business now, you become part of the problem.

You have heard the axiom that “what you focus on expands.” That is also true in this arena. When you hold back (consciously or unconsciously) by printing black and white instead of color, using solely online promotion instead of adding offline or radio or television, or just wait for a “better” time…you contribute that vibration and energy to the whole. And people pick up on your reluctance, they become afraid, and they pull back…and on it goes.

My mentors and coaches (as well as I) are investing MORE in learning and in our businesses and marketing during this time than ever – and breaking records left and right. Time your product release or program promotion based on what your heart wants to do, what you are feeling guided to do, not on what is happening in the external environment. (One of my colleagues just launched a new magazine and when someone commented they couldn’t believe she would do this during a recession, she said, “I didn’t even think about it, it was just the time to do it!” And it is very successful.)

3. Because many of your competitors are contracting now, you have an unparalleled opportunity to step in and own more of the market.

Many of your colleagues are NOT reading this ezine, and they are giving in to the fear and contraction that their base instincts want them to hear – and that the media is feeding them. (“Television” is literally someone else telling you what your vision should be…don’t you want to choose that for yourself??)

Step beyond your comfort zone, announce something new, finish that product and get it out for springtime promotions. Remember the principle of Raymond Holliwell that “no desire is felt until the supply is ready to appear.” (Working with the Law) So if you feel the desire to share this program or product, people are ready to consume it. Move ahead, don’t hold back just when you’re finally ready to grow!

4. By pulling back, you are depriving the people that are looking for you, that are longing for your work, and really need it, of the opportunity to obtain what they need.

It was a huge shift for me to realize that when I give in to my own fears and cancel an event or hold off on finishing a book or workshop, I am actually keeping my “people” – the individuals that I am destined to serve and who long for what I offer – from receiving what they need! My job is to say yes to the desires and call within me; then it is up to God and the Universe to bring me together with those people that are looking for me. It becomes so much easier this way!

Will this feel uncomfortable? Certainly, at times it will. You may attract criticism, people thinking you’re just a little crazy…and even your own inner voices may join the chorus. As long as you are fulfilling your divine destiny and purpose through the work you do, offering “more life to all and less to none,” you can trust your inner guidance and follow it – in any economy.

 In the previous installments of our series, we have addressed the key factors for a brand new business. Now we complete the process of setting our business up for success with the elements of Staffing and Strengthening.

11. Staffing: Magnetizing Like-Minded People to Implement and Enhance Your Vision

Even in the early stages of your business, you should delegate some tasks that could be profitably done by another person. As it grows, this is even more important! The Purposeful Entrepreneur must be careful to attract only like-minded people that are in integrity with the owner’s vision. Otherwise, it will be difficult or impossible to maintain the expression of the business’ key purpose throughout its various divisions and departments. There are three types of tasks which need to be completed in each business; at this stage at least two of them should be delegated so that the owner can focus on the creative, visionary tasks. This factor examines to what extent that has been done.

This factor answers the question, “How do we manage our resources (especially people)?” for the established business.

12. Strengthening: Leveraging the Success You Have Created

Once all 11 of the previous factors are in place, they pave the way for massive success…but then the question becomes, can you, the owner, let that success in? Or will you unconsciously sabotage things or become a bottleneck in your business to keep it smaller and more comfortable for you? It is difficult for entrepreneurs to let go of the tendency to “do it all myself,” and to allow others to bring their contributions to even the strategic level of the business. Yet that is called for here.

Often, the business reaches a point where it needs to reinvent itself, or the owner begins to lose interest when he/she is no longer creatively expressing on a regular basis. Re-allocating responsibilities – and perhaps even moving on to a new enterprise – may be considered here. Developing an exit strategy for the business and considering how to leverage the success it has enjoyed to date through franchising, licensing, distributorships, or other methods are among the issues evaluated here.

This factor answers the question, “How do we communicate what we do – now?” for the established business.

rganize what we do – now?” for the established business.

Evaluate all 12 factors of Purposeful Entrepreneurship in YOUR business with our Purposeful Entrepreneur Compass today: http://www.purposefulentrepreneur.com/assessment.html

In the previous installments of our series, we have addressed the key factors for a brand new business. Now we continue into the expanding business with the elements of Synergy and Systems.

9. Synergy: Dialoguing with Your Tribe, Meeting their Changing Needs

Everything you do through your business is actually an interactive dialog with your prospects and customers. If their response exceeds your expectations, you are “in sync” (synergistic) with them; if not, then the place to look is not at them but within yourself. Even your interaction with your business as you perform the duties and tasks required are synergistic, and, if you are open to it, are a path of personal growth and evolution. It helps you grow as you take steps to expand it! As a business grows, it is increasingly important to have regular direct interaction with customers to anticipate their changing needs – and use that information to be of maximum service in developing future offerings.

This factor answers the question, “Whom do we serve and what do they tell us?” for the established business.

10. Systems: Freeing Energy, Setting the Stage for Growth

Systems, policies, procedure manuals, and software all play a critical role in a growing enterprise. Without them, energy is wasted trying to find lost items, doing things multiple times (or by multiple people), and feeling like you are “chasing your tail”. This factor measures the extent to which you have implemented systems so that the energy of your purpose can express freely within the business. Your growth depends on it! Here we identify ways to regularly and seamlessly streamline and systematize, so it does not become a burden.

This factor answers the question, “How do we organize what we do – now?” for the established business.

Evaluate all 12 factors of Purposeful Entrepreneurship in YOUR business with our Purposeful Entrepreneur Compass today.

In the previous installments of our series, we have addressed the key factors for a brand new business. Now we move into the expanding business with the elements of Story and Simplification.

7. Story: Taking a Stand, Refining Your Purpose

As a business grows, its purpose must be revisited regularly to be sure the expanding market and growing line of products and services still express that purpose. In addition, the business’ position in the marketplace may need to be honed and narrowed even further to remain relevant – which means taking a stand to polarize the audience. Once you do this, those who love you really love you – and those who don’t resonate with your business will leave. This is a distilling process that greatly increases the impact and staying power of the business. Gathering success stories of happy customers and sharing them with prospects is also key here.

This factor answers the question “Who are we/what do we stand for?” for the established business.

8. Simplification: Getting Back to the Basics of Purpose and Vision

Growth inevitably means chaos – sometimes a lot of chaos. This factor examines how you have simplified – or could simplify – all aspects of your business. Often this means letting go of things that no longer serve the purpose of the business, whether that be staff, products, or ways of doing things. The Pareto Principle is useful here: 20 percent of your business will be generating 80 percent of your results. So what comprises the 20 percent, and how can you let go of the rest?

This factor answers the question, “How do we feel about what we do?” for the established business owner.

Evaluate all 12 factors of Purposeful Entrepreneurship in YOUR business with our Purposeful Entrepreneur Compass today: http://www.purposefulentrepreneur.com/assessment.html

In our series thus far, we have explored Purpose, Passion, People and Presentation – all important to build your foundation. But if they don’t lead to Profits – our 5th factor – and connect through Promotion – then what you have is a hobby, not a business!

Both of these factors deal with attraction: drawing to you the people and resources that form the “meat on the bones” for your Purposeful Business.

5. Profits: Attracting Money

The Purposeful Entrepreneur’s beliefs about money are often challenged in this factor. Old programming that “you can’t be spiritual and be rich”, as well as what amount of money is acceptable to charge and to make, must be revisited for the business to prosper. If revenues are lacking, or if money is not managed well, this factor will score low. More people become wealthy through self-employment than nearly any other avenue…but it is always a path of discovery, facing and overcoming old beliefs, and upleveling one’s awareness and consciousness when it comes to money – not to mention learning the tax benefits and wise money management strategies to be used in running a business.

This factor answers the question, “How do we manage our resources (especially money)?” for the new business.

6. Promotion: Attracting Your Tribe

A business is only viable when its message reaches its market…and promotion is about all the ways you do that in your business. Whether it is online or offline, working with energy, magnetizing, and Law of Attraction or marketing techniques like email broadcasts, speaking or article writing, all of those components comprise the essence of the Promotion factor. How clearly you communicate, the overall vibration you send to your prospects and customers, and how effectively you draw your ideal customer or clients to you – including your sales process – all are measured here.

This factor answers the question, “How do we communicate what we do?” for the new business.

Watch for more of this dynamic series next week!

Want some good news? Small business confidence is at its highest level in 16 months, according to a just-released study from the National Association of Independent Businesses.

Now that’s something to shout about! See full article here:  http://tinyurl.com/ycsy7bt