In January’s economic news summary, I assert that we are in a “Milk Toast Economy.” I include many key economic indicators with historical graphs to prove my point. Here’s how I start:
My mother would always give me milk toast when recovering from a bout of stomach flu. This temporary, bland remedy was meant as a transition to a better diet. Yet after ten straight quarters of economic recovery, we are still eating “milk toast,” economically speaking. The post-recession economic recovery from the 1982-1983 recession, after ten quarters, showed 13.4% growth in Gross Domestic Product. Ten quarters into our current post-recession recovery that rate is a tepid 6.2%– less than half of our previous recovery. Why do you think we are still eating “milk toast?” Overall grade for January: D
Learn how to increase advertising frequency without increasing your advertising budget. Dave introduces you to Mike Michalowicz, the author of The Toilet Paper Entrepreneur, who believes the greatest business success come from underfunded, inexperienced entrepreneurs. Read the complete article on the Wall Street Journal site.
Steve Forbes on Economics
Listen as Steve Forbes, Chairman and Editor-in-Chief for Forbes Media is Getting Down to Business® with Dave Weatherholt. Forbes discusses his book How Capitalism Will Save Us, Austrian Economist Joseph Schumpeter, the “Brutality of Capitalism,” and more.
A business incubator called VETransfer provides free mentoring and facilities to military veterans who start their own businesses. The program is funded by the Department of Veterans Affairs and has a waiting list for their services. Listen as Dave discusses the WSJ article.
SBA 504 Loan Program
When you need to get a job done right, the correct tool works best. Listen as Barbara Gill, VP & Senior Loan officer with Evergreen Business Capital, describes the SBA 504 loan program. If your business needs a new location, land, buildings or even leasehold improvements, financing with the 504 program maybe the right tool for you.
Go it Alone
Listen as Geoff Burch discusses the bargaining process and its potential negative impact in sales. Chapter 17 of Irresistible Persuasion provides great advice.
December’s Getting Down to Business® eNewsletter wraps up the year with some great articles – including marketing planning for 2012 from Amanda Cullen and economic news from David Weatherholt. Christopher Pobieglo advises on the sensitive subject of employee theft, while Tim White continues his series on computer back-ups.
As the year comes to a close, business owner’s minds turn to… cash flow. Use my article and included downloads to manage your cash flow and keep it positive!
The House approved a bill that would let companies sell equities online. Senator Scott Brown (R., Mass.) introduced a similar measure. Listen as Dave discusses the overwhelmingly positive potential of this legislation. And read the complete article on the Wall Street Journal.
Cash Flow
If your business is on a calendar year, then you are approaching the end of this year. Have you been tracking your performance numbers or are you afraid to look? If you have spent most of this year looking for cash, then chances are that you have not been very profitable. Listen as Dave discusses cash management tools that work.
What if your point-of-sale system went down during peak sales on “Black Friday”? How much would that cost your business? Tim White, our technology guru, discusses the inevitable but avoidable business risk– backing up your IT system. Visit Tim at www.akcb.com.
The NFIB’s “Optimism Index” gained 1.3 points, nudging the index up to 90.2. Listen as Dave discusses the main reason the index remains mired in low readings. Read complete article on NFIB’s website.
Market Analysis
According to Celtic myths, there was once a magical cup. This cup satisfied the tastes and needs of all who drank from it. These myths led to the legend of the Holy Grail. The business equivalent of the Holy Grail is the Business Plan. The real value of a business plan is the process. Listen as Dave gets a rare opportunity to take you through the process of completing a “Market Analysis.”
Even with 14 million people unemployed, 40% of small businesses complain about the dearth of qualified workers. Listen as Dave talks about a pressing problem for employers. Read complete article at the Wall Street Journal.
Credit & Business Lending
Dave’s guest is Bill Cessnun, VP Commercial Loan Officer with Northrim Bank– a Alaskan community bank. Listen as Bill talks about making a credit decision during the business lending process. Bill provides great information to Dave and his listeners.
Go it Alone
Alice in Wonderland meets a Cheshire Cat at the beginning of her journey. Listen as Geoff Burch explains how “measuring success” ties in to Alice’s journey. Intrigued? Listen to the show!
Listen as Dave talks about how an economic powerhouse “shackled” by federal regulators and rouge environmental group’s squeezes out some growth. The first estimate of GDP beat all expectations coming in at 2.5%. Read the complete economic news article here.
What is Alternative Business Lending?
Business lending is a business, and all lenders expect to make a profit on their loans. Listen as Steven Bush, Commercial Loan Officer at Alaska Growth Capital. Find out why they are called an alternative business lender as Steven tells us about their history, goals, and how to start the loan process.
If your business uses independent contractors, the IRS has a new plan that may cost you. Their new program called “Voluntary Worker Classification Settlement Program” will be taking a closer look at how you classify contractors/employees. Is this an attempt to raise money and increase employment? Read the complete article: “Price of Reclassifying Workers.”
Search Engine Optimization
Search Engine Optimization (SEO) experts Amanda Cullen (Zoo in a Jungle Marketing) and Steve Volz (Alaska Search Marketing) have an open discussion on the topic. Listen to learn more about how to increase business and some of the basics of SEO as well as finding an SEO provider.
Listen as guest host Christopher Pobieglo gives a brief recap of key economic indicators. The National Federation of Independent Business (NFIB) will be holding three free webinars. Find out more at their website - nfib.com.
He also discusses traffic safety and potential business risks from a “Risk Management” standpoint.
Make Credit Card Transactions Easy
Today’s special guest Sushil Wanigantunga, president of American Credit Card Systems, provides great insights into the management of debit and credit card transactions. Listen to find out how to take credit and debit cards in your business.
Marketing Matters
Listen as marketing expert Amanda Cullen, president of Zoo in a Jungle Marketing, discusses marketing on Facebook. Amanda provides creative ideas to build a following.
In an “Atlas Shrugged” moment, Kingwood, Texas bank Main Street Bank gets out of the banking business because of federal banking regulations. Listen as Dave talks about the frustration of the banks chairman and how they will handle excessive bank regulations. Read the whole article at the Wall Street Journal online.
Alaska Center for the Performing Arts
Listen as Nancy Harbour, Executive Director of the Alaska Center for the Performing Arts talks about the new 2011-2012 season. Nancy tells a story about a fun topic that has a serious economic impact on Anchorage’s community. And they’ve got a new website! Visit it at www.myalaska.com.
Go It Alone
Listen as Geoff Burch, author & business expert, talks about effective selling without the high pressure. Geoff is in rare form and entertaining as always. It’s a delightful (and useful) segment you won’t want to miss!
In a tax audit, the IRS Auditor’s job is simple: find errors in your return that will increase the amount of money you owe the government. Your goal is also simple: keep their hands out of your pockets (or at least from going all the way to the bottom).
As summer marches on, July’s Business/News & Views® brings some really hot articles for small business owners and entrepreneurs. First up, get some Facebook marketing tips from Amanda Cullen. While you’re learning about technology, check out our article on working wirelessly.
David’s articles are quite entertaining, even though they are on sober topics: surviving an audit and the state of the US economy. He encourages you to “Protect Your Pockets” while chiding the US government that helping the economy “Isn’t Rocket Science.”
In the eyes of the average small business, the U.S. economy is still in a recession and likely to stay that way through 2012. A new survey, commissioned by the U.S. Bancorp one of several reports out in recent weeks painting a more dismal picture for American small businesses than previously perceived. Listen for my recap, and read the full article on the Wall Street Journal site.
How to prepare a business loan package
The American reserve banking system evolved from Goldsmiths. In most early towns, the only vault belonged to the Goldsmith who began holding the valuables and money of others in the community. Today’s bank lending evolved from these practices. Andy Riddell, VP at Wells Fargo talks about the bank’s side of the lending process including explaining the 5 C’s of Credit. Listen to find out the best way prepare a business loan package.
Alaska Economics
The U.S. economy is made up of all the individual state economies. Listen as Dan Robinson, Senior Economist with the McDowell Group discusses the two common beliefs about the relationship between Alaska’s economy and the U.S. economy. ”Historical data doesn’t really support either of those beliefs,” according to Dan. Listen for his view.
In this continuation of my series on having your tax return selected for a review (that means “audit”), I encourage you to take charge of the situation and, “Remember, It’s Your Pocket.”
This year, auditors are really after those filing a Schedule C. Their goal is simple: find errors in your return that will increase the amount of money you owe the government. Your goal: keep their hands out of your pockets.
Two crucial forms of bank lending that remained stubbornly weak are finally showing signs of life, another indicator that the credit crisis is on the mend. This uptick could help businesses expand and reduce unemployment listen to the summary. Read the full article: “Uptick in Loans Could Aid Business.”
A Wild Ride
An entrepreneur is a person who wants to change the future. Change involves more than talk. The vision must be followed by action. Following that vision is a great risk. There is the risk of failure, a damaged reputation, the loss of time and money. Listen as Dave describes what it took to follow his vision of a professional football team, Alaska Wild, in Anchorage. Contact Dave at david@WaConsult.com.
Have you ever been audited by the Internal Revenue Service? Being selected for an audit is a nagging fear of every small business owner. “You Have Been Selected” is part one in my series of how to come out ahead (or at least not behind!) in an audit. I detail my recent experience with the IRS, how to get prepared and what to expect. It’s a must-read for any small business owner.
The Nation Federation of Independent Business (NIFB) has tracked business optimism since 1976, making this a reliable measurement of business optimism. The month of April marked a second consecutive month of decline in small business optimism. Listen for Dave’s take on the news.
Council of Alaska Producers
San Francisco, Denver and Seattle have much in common. Plenty of social amenities, fine dining, shopping, cultural and arts carters, and professional-level sports teams. They also create lots of jobs with vibrant and diverse economies. When they were fledgling communities, mining gave them a big economic boost. Mining can be a game changer for the Alaska Economy. The Council of Alaska Producers represents large mining companies and tracks their economic impact. Listen, as Mike Satre, Executive Director of the Council discusses their role in Alaska.
Business Risk Management
The “Insurance Guy” Chris Poblieglo of Business Insurance Associates reveals an often overlooked business risk. A company’s employees represent a risk to any business. Managing employment practices and obtaining liability insurance can minimize this business risk. Listen as Chris gives “advice you can use.”
May’s Business/News & Views® brings some encouragement amidst continuing dour economic news – that the US is still a powerhouse. David Weatherholt keeps it upbeat as he details his recent experience with auditors, while marketing expert Amanda Cullen advises businesses with tips for creating that great first impression. In our tech section, learn 9 ideas for managing files and folders on your computer.
The Index of Small Business Optimism fell again in March. This index has been tracked by the National Federation of Independent Business since 1976, making it a great measure of business optimism. According to the NFIB chief economist, “Today’s recession-level reading is, all in all, a real disappointment.”
Anchorage Tourism Update
Julie Saupe, President, and CEO of the Anchorage Convention & Visitors Bureau joins Dave to talk about the upcoming visitor season in Anchorage. Julie also discusses their volunteer program and its role in assisting visitors by matching them to services and tours.
Business Risk Management
The third segment in our series “Workers Compensation Uncovered,” Chris Poblieglo discusses job classifications and how they can affect your bottom line. Chris also describes three bills now before the Alaska State Legislature: HB-12, 13, and SB-116, and their effect on workers’ compensation in Alaska.
April’s economic news summary, Cost of a New Suit, documents the rising prices that will cause our shaky economic recovery to falter. I explain how key economic indicators, such as the Consumer Price Index and Industrial production tell the story of our economy now and in the future. Here’s an excerpt:
Daily, the price for basic commodities is on the rise– oil, corn, cotton; gold…all have reached or are headed to all time highs. November 2010, the price of cotton hit 155.4 cents per pound, moving past the previous high of 141.9 cents per pound set in 1864, a 146 year record, WOW! The price is now 229.6 cents per pound. We are witnessing similar record high prices for corn, oil and gold. This leads to a great question: are we witnessing a new normal or a simple aberration in pricing, creating unsustainable bubbles?
To keep your business healthy, you need to do a business health checkup. In my article, I explained the 7 steps to a healthy business, starting out:
Take a deep breath, clear your head, relax, and then take stock of what you have. How is your business performing now? Have sales slowed? Do you have enough cash? Is your business ready to face a future where business growth is not the key to success? What is the overall health of you and your business, both mentally and financially?
In 2008, the United States and the world economies went into a steep downward tailspin. This economic downturn, despite earlier confusion, misstatements and missteps is very real and had a significant impact on your business. This sudden shift changed what we considered “business normal”– signaling that the old way we operated as a business will not work in the future.
March’s Business/News & Views® has very informative business tips and advice to help you with finances, marketing and technology. First, get the scoop on Pay-Per-Click Advertising as Amanda Cullen explains Google, Bing and Facebook.
Get your business in shape with David Weatherholt’s “7 Steps to a Business Health Checkup.” Learn the state of the economy with David’s economic news summary and learn how to increase browsing speed with our technology article.
Oil is a big part of the economy in Alaska. But there are other energy resources that can be developed in Alaska. Ethan Schutt, Senior Vice President of CIRI, talks about Stone Horn Ridge, a company created to commercialize syngas from underground coal gasification (UCG). The Anchorage based joint venture is developing syngas for power generation, ultra-clean liquid fuels and other industrial applications.
Later in the show is our “Business Risk Management” segment with Christopher Pobieglo, CRIS and President of Business Insurance Associates, Inc.Chris joins David to talk worker’s comp. He has great advice for Alaskan businesses on how to manage worker’s compensation insurance and claims.
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My mother would always give me milk toast when recovering from a bout of stomach flu. This temporary, bland remedy was meant as a transition to a better diet. Yet after ten straight quarters of economic recovery, we are still eating “milk toast,” economically speaking. The post-recession economic recovery from the 1982-1983 recession, after ten quarters, showed 13.4% growth in Gross Domestic Product. Ten quarters into our current post-recession recovery that rate is a tepid 6.2%– less than half of our previous recovery. Why do you think we are still eating “milk toast?” Overall grade for January: D
Listen as Steve Forbes, Chairman and Editor-in-Chief for 
An entrepreneur is a person who wants to change the future. Change involves more than talk. The vision must be followed by action. Following that vision is a great risk. There is the risk of failure, a damaged reputation, the loss of time and money. Listen as Dave describes what it took to follow his vision of a professional football team, Alaska Wild, in Anchorage. Contact Dave at 
April’s economic news summary, 
