Posts Tagged ‘Ohio accounting podcast’

Business Podcast Heats Up In July

Thursday, July 28th, 2016

Regular listeners of unsuitable on Rea Radio already know that the summertime lull had no effect on the show’s quality. July has been an entertaining and informative the month for the Rea & Associates’ podcast. From discussing the many reasons American consumers should support locally-owned businesses (Self-Reliance: Made in America) to this week’s episode about cybersecurity concerns, (The Hacked & The Hacked Nots) featuring Rea’s own Joe Welker, CISA. Listeners also got a spoonful of crisis communication advice and insight from Denny Lynch, Wendy’s former senior vice president of communications (The Infamous “Finger In The Chili” Incident) and then learned that LLC’s, C-Corps and S-Corps were not created to be equal in the world of entity structure (Maximize Your Equity: Maintain The Right Business Entity) form Gene Spittle, CPA, PFS, CGMA. In short, there was literally something for everybody to listen to and enjoy.

Want to hear what you’ve been missing? Check out this month’s episodes below.

Happy listening!

Episode 38: Self-Reliance: Made In America

Long days, vacations, barbecues, baseball … what’s not to enjoy about summer?! It’s also the time of year when we celebrate what it means to pursue the American dream. And, for many, this dream materializes in entrepreneurship and, going a step further, buying American-made products as a way to support a strong domestic economy. Kyle Stemple, CPA, CGMA, principal and director of manufacturing services at Rea & Associates, talks about the value of “buying American,” and the direct impact consumers have on America’s marketplace and the quality, customer service and product support we receive from domestically-run businesses.

Episode 39: The Infamous ‘Finger In The Chili’ Incident

Remember the time America began checking their Wendy’s chili for rogue fingers? Denny Lynch does. As the senior vice president of communications at the time of the crisis, Denny and his team was not only responsible for helping disprove the claim, but to maintain the brand’s image and reputation as one of the nation’s premier fast food restaurant brands. On episode 39, “the infamous ‘finger in the chili’ incident,” Denny and Mark discuss crisis communications and why clear, consistent internal and external communication strategies are critical when businesses have to protect their brands from unforeseen crisis situations.

Episode 40: Maximize Your Equity: Maintain The Right Business Entity

How much thought did you put into how your business would be structured. Did you consider whether economic conditions would be more favorable if your company operated as a LLC (Limited Liability Company), C Corp or S Corp? Were the tax implications weighing heavily on your mind as you wrestled with this important decision? Your business’s structure is not a decision to be taken lightly and Gene Spittle, CPA, PFS, CGMA, a principal at Rea & Associates, will tell you why on this episode of unsuitable on Rea Radio.

Episode 41: The Hacked & The Hacked Nots

Lack of cybersecurity training has left companies nationwide vulnerable to the ever-growing and constantly changing threat of cybercrime. On episode 41 “The Hacked & Hacked Nots,” we learn why many companies are incorporating third-party software to monitor and protect their firewalls to determine which sites are safe and which ones should be avoided at all costs to help protect you from cybercriminals. Joe “Captain Data” Welker, CISA, Rea & Associates’ IT Audit Manager, joins us once again to give listeners some valuable insight into current cyber hacking and internet threats and what we can do to keep ourselves, and our businesses, safe. You are not gonna want to miss this episode!

If you like what you hear, subscribe to unsuitable on Rea Radio on SoundCloud or iTunes or sign up to receive weekly email alerts when new episodes drop.

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Who’s Driving Your Business’s Results?

Monday, May 9th, 2016
Jeremy Senften | unsuitable on Rea Radio | Ohio Accounting Podcast

Jeremy Senften, CPA, CGMA, Rea’s chief operating officer, joins Mark Van Benschoten on an episode of unsuitable on Rea Radio to talk about the benefit of tracking your business’s success. Listen to episode 31, “Bet On Your Business By Scoring Your Success,” now!

Businesses that drive consistent revenue growth are able to do so because they have honed in on the importance of working with their teams to drive measurable results. And, believe it or not, it’s not rocket science! Take a look at these three tactics for tips to help you achieve the growth goals you’ve been working toward.

Listen To Bet On Your Business By Scoring Your Success on unsuitable on Rea Radio

Place Your Bet

If you had to bet that one particular action would drive the results you are looking for, what would that bet look like? For example, if your goal was to increase your company’s sales, I would be willing to bet that increasing the number of calls your team makes to customers would bring you closer to reaching your goal. Placing your bet on a particular initiative will help you identify where you need to focus your efforts and work you do to reinforce the bet will help you achieve the goal.

Keep Score

Just because you are not keeping score in the traditional sense, doesn’t mean somebody else isn’t tallying up points. Generally speaking, we like to keep score because we like to know if who is winning. As competitive beings, people like to see what the others are doing. That way we have an idea of what we need to do to one-up them. Companies can harness this drive and put it to good use when it comes to driving desired results in your business. Tracking your success is so important and communicating these results is just as critical. Your team wants to know how what they are doing has an effect on what is going to happen and how those results impact the big picture. It’s your job to show them.

Communicate

If you aren’t constantly communicating news, results and other critical information, your efforts are doomed to be chalked as just another “flavor of the month.” You’ve likely make a significant investment in this particular initiative, so it’s critical that you talk it up – and often. Some people say that a person has to hear something seven times before it actually “clicks.” I like to joke that you should talk about it until you are tired of talking about it … then mention it 10 times more. You shouldn’t be the only one delivering the message either. Try to establish a team to champion your message to encourage others to take ownership of the initiative as well.

Are you looking for more insight into the goal-setting (and achieving) process or would you like some additional clarity on the points above? Listen to my interview with Mark Van Benschoten on unsuitable on Rea Radio and “Bet On Your Business By Scoring Your Success.”

By Jeremy Senften, CPA, CGMA (New Philadelphia office)

For more insight into achieving business growth, check out these articles:

From Good To Great: How To Create A Strategic Plan That Propel Your Business Forward

If It’s Going To Be, Then It’s Up To Me

Measure Your Operations With Key Financial Information

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Your Secret Weapon: The Business Advisory Team

Tuesday, March 22nd, 2016
Business Advisory Podcast - Ohio CPA

On episode 25: the advisory advantage: a left-handed fireball pitcher for your business, Dave Cain, CPA, a principal at Rea & Associates, advises business owners about the benefit of having an advisory team. Start listening now.

If you have the opportunity to get great advice from a team of established business professionals and industry veterans, people who have lived, breathed, touched, and experienced the journey you are about to embark on – wouldn’t you? When you have a business advisory team to challenge and motivate you, you hold the secret weapon to long-term business value and personal and professional success.

But first you have to establish your team. Here are some tips that should help point you in the right direction.

Establishing A Core Group of Advisors

Although the makeup of the group could change or adapt depending on the needs of your business, usually the business advisory group will consist of a CPA, an attorney, a banker and a financial planner. Your advisory team has to be able and willing to have the crucial conversations necessary to facilitate real growth and change – and you need to be willing to hear all their opinions. Even if you don’t agree with some of the opinions that may be expressed, be an active participant in the conversation. Sometimes these dissenting opinions will become the catalyst for achieving some major milestones.

Trust that you’ve put together a strong group of advisors with a wide range of skills and experiences needed to take your business to the next level. The journey may, at times, be a little bumpy, but if you all stick together, the destination will be worth it.

Your Business Advisory Meeting

Meeting with your business advisory team should be more than a scheduled play date. You should have a plan for how the meeting is going to flow.

Remember that this meeting is a strategic session that will focus on the tactics necessary to fulfill the goals you’ve established for your business. This is not a time to look back at your prior year’s financial statements or tax returns. This is your chance to look at the stuff that you don’t get to touch every day because you have been too busy working in your business – rather than on your business.

To ensure that your advisory team leaves the meeting with a concrete action plan, make sure to come to the meeting prepared with an agenda. To maximize your success, everybody should have a clear picture of what their next steps are and what should be ready to the group at the next meeting.

It’s not always easy to stick to an agenda. Everybody has an opinion and new ideas will sprout from seemingly nowhere. Consider appointing an advisory team quarterback who can ensure that the meeting topics and decisions that materialize are consistent with the company’s mission statement, vision statement and core values. Your quarterback can also reel in the team when talks begin to become a little one-sided.

unsuitable on Rea Radio | Ohio Accounting Podcast | Rea & AssociatesWant more? Listen to episode 25: the advisory advantage: a left-handed fireball pitcher for your business on unsuitable on Rea Radio and find out if a business advisory team is right for you and your business.

By Dave Cain, CPA (Dublin office)

Still not sure if it makes sense to establish a formal business advisory team for your company? Check out these articles for further insight.

Getting By With A Little Help From Your Friends

Is Your Business Batting A Thousand?

5 Best Practices For Taking Your Business To The Next Level

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