BCBO Daily Podcast Recaps Week of 6/14/21

Hello! Welcome to recaps of the BCBO Daily Podcasts for the week of 6/14/21. Missed an episode? Just want to read? This is the perfect place to get a nutshell recap of each episode. If you want to hear all the good stuff then go listen (they typically run anywhere between 7 to 12 minutes - totally worth your time). Links for each episode next to each day. Get them wherever you get your podcasts.

FIRST - THE DAILY REMINDERS!!

We wrap up each podcast with a few friendly reminders. They are important, that’s why we say them everyday!!

• Today is a new opportunity. Seize it.?
• Remember, you GET to go to work today. You GET to work on your vision and your goals.?
• Success isn’t owned. It’s leased and the rent is due everyday. Go pay the rent on your success today.
• Keep asking yourself - How would the person I want to be handle the thing I am about to do? Keep putting yourself in that forward thinking mindset. Keep pulling yourself forward towards your goals.?
• Limit the negative self-talk and be kind to yourself. Everything is not going to go as planned 100% of the time. There are going to be problems. Unexpected things are going to come up. It is going to be ok. You are going to figure it out.?
• At the end of the day review how the day went and make adjustments where necessary, but seek out and celebrate your successes. There are successes every single day. Find them and celebrate them because you deserve it. Don’t let the negative and things that went wrong overwhelm the things that went right.
• Put some good out into the universe. You will get good back.?

MONDAY 6/14/21: Listen Here - BCBO Daily 6/14/21

Another Monday is upon us. It is another opportunity to work on our businesses and work on our personal growth. We GET to go to work today. We GET to work on our goals and vision. Let’s start the week off with a positive attitude so we can handle whatever bumps and headaches are coming our way.?

Today’s podcast turns into a bit of a history lesson. Today is Flag Day and since Dan enjoys history so much he decided to share some tidbits with the audience. When the revolutionary war first broke out in 1775, everyone was fighting under separate flags. At the Second Continental Congress in June of 1775 they formed the Continental Army to create one united army to oppose the British forces and that is when they created what is essentially the first American Flag, the Continental Colors.

The original flag consisted of the 13 alternating stripes that we all know, but it had a Union Jack in the corner and looked similar to the British flag according to George Washington. He didn’t think it was a great confidence booster. On June 14th 1777, the Second Continental Congress passed a resolution that created what we all know today as the 1st American Flag.?

To read more about Flag Day including some interesting facts and trivia go to THIS ARTICLE.

TUESDAY 6/15/21: Listen Here - BCBO Daily 6/15/21

Today’s episode starts off by stating the obvious - the Yankees are a mediocre team. Their offense is terrible, and the recent string of games against division rivals has put Dan in a sour mood about the team. He’s out on them (again). Until they pull him back in later in the season of course.

The main topic for today’s episode is the transition back into the office as the world opens back up. Dan read an interesting article about what is happening at Apple right now after they announced last week that starting in the fall all employees are expected to come back to the office at least 3 days a week. A group of employees have written and submitted a letter detailing why they do not feel this appropriate or best for them or the company.?

Working from home definitely has its pros and cons for both the employees and the company. There are issues of productivity, overhead, overall employee morale and well-being to take into consideration. What is the best solution? Dan doesn’t know, but shares some of his personal experiences as someone who has been in both situations.?

To read more about this topic go to THIS ARTICLE.

WEDNESDAY 6/16/21: Listen Here - BCBO Daily 6/16/21

Today’s episode focuses on the bill pay features available in QuickBooks Online. Specifically the services powered by Melio. Right inside the program you can schedule payments to your vendors and make payment via either ACH transfer or by paper check. The service is free, and has done wonders for streamlining the process at the construction company.

Dan has always stressed to any potential client two things. 1 - the client is never “under contract” and obligated to use our services for any specific length of time or spend any specific amount of money. 2 - Blue Collar Back Office never has access to the clients money. We can view transactions, etc. but never have the ability to even transfer money between the clients bank accounts. It is a liability we don’t want. You (the client) earned the money, you should be the only one with access to spend it.?

Using new features built into Melio for Accountants we will be able to enter and schedule bill payments for our clients, but the final approval of money being released is still in the hands of the client. It is great news! Anytime a new feature is added that allows us here at BCBO to better serve our clients it is a good day. Take advantage of all of the features QuickBooks Online has to offer to make your company more efficient and streamline your office operations.

THURSDAY 6/17/21: Listen Here - BCBO Daily 6/17/21

It is Dan’s favorite day of the work week - Thursday! Today is the day he spends time going over the company financials, schedule, in progress reports, etc. A friendly reminder that all business owners should be setting time aside each week to do these things. It makes a big difference in the success of your company.?

Earlier this week Dan had a monthly meeting with a client to go over their business. How are they doing on their jobs? How is their cash flow? Any red flags that need to be addressed? Things of that nature. During the conversation an important question that comes up often was asked about using the company credit card to make personal purchases. The transactions are being posted properly as an owner's draw, etc. so is it really that big of a deal?

The short answer is that yes, it can be a big deal. If you have established an LLC one of the main reasons you did that was to protect your personal assets in the case of being sued or filing for bankruptcy, etc. If you use your business cards or commingle your business and personal expenses in any way you could be in position to lose that protection down the road - it is called “Piercing the Corporate Veil”. It is very important that you operate your business as the business and operate your personal life as your personal life. Taking money out of the business as an owner’s draw is fine, using the company credit card to go shopping on Amazon for personal items could have consequences down the road.

FRIDAY 6/18/21: Listen Here - BCBO Daily 6/18/21

A key component to a healthy and successful company is a positive cash flow. Throughout several conversations this week Dan had with existing and potential customers the topic of cash flow came up so today’s episode focuses on a couple steps you can take to make sure your company stays in a healthy position.

Every week we discuss staying on top of your invoicing and accounts receivables. Part of that includes not only sending out invoices when a job is completed but also sending out deposit and progress invoices for larger ongoing projects. If you have the ability to, make sure you are setting up accounts with vendors to purchase materials, etc. so all purchases are not COD. This will allow you as a company time to invoice and collect payments on ongoing projects.?

As we do every Friday, let’s make sure we are taking the steps necessary to set ourselves up for success next week. Review the week's tasks and ensure all priority projects are completed. Review your calendar and task list for next week to make sure you are prepared and organized as you head into the weekend. Lastly, pat yourself on the back for a job well done this week! It was a great week! Celebrate yourself!