Entrepreneurial Operating System (EOS) implementation can be a transformative journey for organizations, enabling them to achieve operational excellence and drive sustainable growth. However, to ensure a successful EOS implementation, organizations need to have effective strategies in place. In this blog, we will explore 11 strategies that can help organizations achieve a successful EOS implementation and unlock their full potential. From defining clear objectives to fostering continuous improvement, these strategies can guide organizations on their EOS implementation journey.
Understanding EOS Implementation
EOS is a comprehensive framework that helps businesses achieve clarity, alignment, and traction toward their vision and goals. EOS provides a set of simple yet powerful tools and concepts that can be implemented across an organization to streamline operations, improve communication, and drive results. EOS implementation involves a structured process of aligning the organization’s vision, people, data, and processes to achieve operational excellence. It typically includes elements such as defining the organization’s core values, creating a clear vision for the future, setting specific goals and priorities, and establishing a system for accountability and performance measurement.
Strategy 1: Define Clear Objectives and Goals
The first step towards a successful EOS implementation is to define clear objectives and goals. This involves identifying the desired outcomes of the implementation, aligning them with the overall organizational strategy, and establishing measurable and achievable targets. The objectives and goals should be communicated clearly to all stakeholders, including employees, leaders, and the EOS implementer, to ensure a shared understanding and commitment to the EOS vision.
Strategy 2: Create a Detailed Implementation Plan
A comprehensive implementation plan is crucial for the successful execution of EOS. This plan should include a detailed roadmap with clear timelines, responsibilities, and milestones. It should also address potential risks and challenges and outline mitigation strategies. Securing necessary resources, such as budget, technology, and personnel, should also be included in the implementation plan. The plan should be regularly reviewed and updated as needed to ensure alignment with the overall organizational strategy and changing business needs.
Strategy 3: Foster Strong Leadership and Change Management
Leadership plays a critical role in the success of EOS implementation. A dedicated leadership team should be appointed to oversee the implementation process and ensure that leaders are aligned and committed to the EOS vision. Change management strategies should be in place to address resistance and challenges that may arise during the implementation journey. This includes effective communication, stakeholder engagement, and a supportive approach to managing change.
Strategy 4: Engage and Train Employees
Employees are key stakeholders in the EOS implementation process, and their engagement and support are critical for success. Employees should be communicated the purpose, benefits, and expectations of EOS implementation. Regular training and development opportunities should be provided to build employees’ capabilities in the EOS framework. Employees should also be encouraged to actively participate and provide feedback during the implementation process, as their insights can contribute to the success of the implementation.
Strategy 5: Monitor and Measure Progress
Monitoring and measuring the progress of EOS implementation is essential to ensure that it is on track toward achieving the defined objectives and goals. Key performance indicators (KPIs) should be established to track the progress of EOS implementation, and regular reviews should be conducted to assess the effectiveness of the implementation efforts. Data analysis and feedback from stakeholders, including employees and leaders, should be used to identify areas that require improvement and take necessary actions accordingly.
Strategy 6: Foster Continuous Improvement
EOS implementation is not a one-time event but rather a continuous journey toward excellence. Organizations should foster a culture of continuous improvement where feedback, learning, and innovation are encouraged. This includes regularly reviewing and updating the EOS framework, incorporating best practices, and driving innovation to optimize organizational performance. Continuous improvement efforts should be integrated into the organizational DNA, ensuring that the EOS implementation is sustained and continually refined to meet changing business needs.
Strategy 7: Aligning Performance Metrics
To ensure that the EOS implementation is effective, aligning performance metrics and key performance indicators (KPIs) with the organization’s overall vision and goals is crucial. This involves setting clear expectations for employees, defining measurable objectives, and regularly monitoring and reviewing progress against these metrics. By aligning performance metrics with the EOS framework, organizations can create a culture of accountability and continuous improvement, driving better results.
Strategy 8: Effective Communication
Communication plays a critical role in the success of any organizational change initiative, including EOS implementation. It is essential to establish open and transparent communication channels throughout the implementation process, from the top leadership to all levels of employees. This includes regular updates, clarifying roles and responsibilities, addressing concerns, and soliciting feedback. Effective communication ensures that employees are informed, engaged, and committed to the EOS framework, increasing the likelihood of successful implementation.
Strategy 9: Training and Development
Providing adequate training and development opportunities to employees is vital for the successful implementation of EOS. This includes educating employees about the EOS framework, its principles, and how it aligns with the organization’s vision and goals. Training should also focus on building the skills and competencies required to effectively implement EOS, such as problem-solving, decision-making, collaboration, and leadership. Investing in training and development ensures that employees are equipped with the knowledge and skills to fully embrace and implement EOS in their day-to-day work.
Strategy 10: Flexibility and Adaptability
Organizations should recognize that EOS implementation is a dynamic and iterative process that may require adjustments along the way. Flexibility and adaptability to changing circumstances, feedback, and lessons learned are crucial for successful implementation. Organizations should be open to revisiting and refining their EOS implementation plan as needed based on the evolving needs and challenges of the organization. Flexibility and adaptability allow organizations to respond to changing circumstances and optimize the EOS implementation for maximum effectiveness.
Strategy 11: Employee Involvement and Ownership
Involving employees in the EOS implementation process and giving them a sense of ownership can significantly impact the success of the implementation. This includes engaging employees at all levels of the organization, from leadership to frontline workers, in the development and execution of the EOS implementation plan. Encouraging employee feedback, suggestions, and contributions can help create a sense of ownership and commitment to the EOS framework. When employees feel empowered and involved in the process, they are more likely to embrace the changes and actively participate in implementing EOS in their day-to-day work.
Conclusion
A well-planned and executed EOS implementation can pave the way for organizational excellence, driving sustainable growth and ensuring long-term success. By following the strategies outlined in this blog and working with an experienced EOS Implementer, organizations can navigate the implementation process effectively and reap the benefits of a streamlined and high-performing operating system. Embracing EOS as a strategic approach to managing the organization’s vision, people, data, and processes can empower organizations to achieve their strategic goals and thrive in today’s competitive business landscape.
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Becoming an insurance agent is a long, tedious process that is worth it in the long run. When you finally land a job and establish a career in insurance, it is ultimately rewarding.
Once you’ve decided you want to leap into the field of insurance, it’s important to take what type of insurance you’ll be selling, what products you want to sell, and what company you want to work for into consideration.
Insurance
First, decide what kind of insurance you want to sell. The insurance you can sell are:
Health insurance
Life insurance
Auto insurance
Homeowners insurance
Business liability insurance
Product liability insurance
Worker’s compensation insurance
The most common types of insurance future agents choose to sell are health, auto, and life insurance.
Exam
The next step in launching a career in insurance is to study and prepare for the insurance license exam. Each state license insurance exam differs, so search “Idaho insurance license exams prep” or your state and “insurance license exam prep” for exam preparation prompts.
A few tips to better prepare yourself for the exam are:
Get a good night’s rest before the exam.
Eat a balanced meal. Omega-3 will help.
Ensure you’ve studied the material thoroughly. Review the material the night before the exam. Do not cram the information and do not overdo it.
Products
Selling insurance products is another way of saying selling insurance policies. You, of course, need to decide on the insurance you want to sell, but the policies you want to sell as well.
Decide whether you want to sell commercial or personal insurance policies. If you’d rather work one-on-one with each individual you sell a policy, choose to sell personal insurance policies. If you’d rather work with companies and help ensure their employees are being taken care of, choose commercial insurance products.
When deciding what company to work for, it’s important you share the same core values as the insurance company you work for. Consider the company’s mission statement and values. Compare them to your core principals and beliefs.
A great way to learn if you and the company you want to work for share the same morals is to research their website. Look on the insurance company’s website, click on their “About” page, and read their mission statement. If their mission statement aligns with your values and beliefs, then apply.
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If you’d like to host a team-building event, why not get your remote workforce together and establish a cooking workshop online? This is a great way to promote cooperation among your staff and get them involved in a fun and delicious activity.
Online companies offer cooking workshops so you can schedule a digital gathering.
Besides delivering the ingredients to each participant’s door, the host company will also provide the chef and direction. However, you’ll still need to make sure you have all the tools required to support the activity.
Ten Tools for Cooking Success
Basically, you need to have the following ten tools available to ensure that your event is a success:
1. The Recipe
Naturally, it’s easier to prepare food when you have a recipe. So, each participant needs to have a recipe, or instructions to follow.
2. Measuring Cups and Spoons
You’ll also have to have the proper measuring tools to measure out the ingredients.
3. Mixing Tools
When mixing the ingredients, you’ll need items, like wooden spoons, for mixing the ingredients. Depending on the recipe, you may need a spoon, spatula, whisk, blender, or electric mixer.
4. Pots and Pans
You’ll also need pots and pans, depending on what you plan to make. For pasta, you’ll need a pot, or a pizza pan if you’re planning to bake pizza. Make sure the pots or pans you use are made of nylon and stainless steel so they resist sticking or scratching.
5. Can Opener
Maybe you’ll need to open a can of tomato sauce. Maybe it doesn’t have a pull-off top. If so, you’ll need to have a can opener – just in case.
6. Slotted Spoon and Soup Ladle
If you’re preparing rice or pasta, you’ll need to have a slotted spoon – for draining the liquid. Or, if you cook soup, you’ll need a serving utensil, or a ladle.
7. Knives and Peelers
You cannot cook without knives or peelers, as they’re used to prepare and cut or peel vegetables and similar toppings.
8. Grater
A grater always comes in handy when you want to grate vegetables or cheese.
9. Tongs
You’ll need tongs if you cook hot foods that require care when they’re served and to prevent from getting burned.
10. Oven Mitts, Towels, and Dish Cloths
You’ll also need oven mitts for removing dishes from the oven as well as towels and dish cloths for clean-up during and after cooking activities.
Tips for Cooking Success
You should refer to the above list if you plan to hold a cooking workshop for your remote employees. Use the aforementioned suggestions as a reference.
Popular cooking workshops feature cuisine in the form of pizza, tacos, and pasta.
Ask the participants to review the recipe before the activity to ensure they have all the needed tools and can keep pace with the chef. Tools should be placed so they can access them easily.
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Wage rates are not rising rapidly. Additionally, your savings account will not make you a lot of interest. But don’t worry. Instead, consider investing to stay ahead of this terrible financial state. Here are some of the many benefits of investing.
1. It Keeps You Ahead of Inflation
According to experts like Patrik Edsparr and professionals in the investing business, if you don’t invest your money, you will lose it over time. That is due to inflation. This is the regular increase in prices of goods and services, which causes your dollars to have less spending power. While inflation varies widely, the historical average is a 3 percent yearly increase.
2. It Builds Your Wealth
Investing is how people build wealth. You have hundreds of different options to choose from to become an investor. If you want to build wealth, sit down with your options and plan how to make money with this approach.
3. It Gets You a Retirement Fund
To properly prepare for retirement, you need your money to work for you now. Leaving your money in a standard savings account will not cut it. Instead, investing will allow you to take advantage of compound interest, giving you a good retirement cushion.
4. It Helps You Save Tax Money
Another significant benefit is that it allows you to save money on taxes. According to investment professionals like Patrik Edsparr, putting your money into a SEP IRA, 401k or IRA prevents it from being taxed. Instead, you are taxed on your money when you take it from these accounts after you retire. That can save you a lot in taxes when you earn income.
There are a lot of benefits to investing. Creating an investment plan can help you create financial stability, build wealth and plan for retirement. Do more research and develop your portfolio to start reaping these benefits.
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As a business owner, you’re probably always searching for ways to keep your business running smoothly. However, with the ongoing COVID-19 pandemic, it’s not as easy as it used to be. Small businesses have been hit particularly hard, with many struggling to stay afloat. Thankfully, the CARES Act offers several benefits that can help small businesses navigate economic challenges.
Signed into the law in March 2020, the Coronavirus Aid, Relief, and Economic Security Act, or CARES ACT aims to provide economic relief to individuals and businesses impacted by the COVID-19 pandemic. The act includes several provisions that are aimed specifically at helping small businesses.
Small businesses are vital to the US economy. In fact, they account for 99.9% of all enterprises in the United States and employ more than 47% of the private workforce. However, many small businesses are struggling to stay afloat due to the ongoing pandemic. The CARES Act can help ease some financial burdens small businesses face.
If you’re a small business owner, it’s important to understand the benefits of the CARES Act and how you can take advantage of them. To help you get started, the ERC Today has created a CARES Act Eligibility Guide. This guide can help you determine which benefits you’re eligible for and how to apply for them.
In this article, we’ll look at the benefits of the CARES Act for small businesses and how you can use these programs to keep your business afloat during these challenging times.
Paycheck Protection Program
As a small business owner, navigating the financial impact of the COVID-19 pandemic has likely been a major challenge. Fortunately, the Paycheck Protection Program (PPP) is one part of the CARES Act that can help ease the burden.
PPP was established to help small businesses keep their workforce employed during the COVID-19 crisis. The program provided $349 billion in loans to eligible businesses to cover payroll and other operating expenses to maintain employment levels. Loans can be partially or completely forgiven if firms meet certain criteria.
To be eligible for a PPP loan, your company must have fewer than 500 employees and have been in existence on or before February 15, 2020. Some other eligibility requirements include the following:
You must use at least 60% of the loan amount for payroll expenses for full forgiveness.
Sole proprietors, self-employed persons, and independent contractors
The Payment Protection Program (PPP) in the CARES Act offers the following benefits:
Provides small businesses with forgivable loans to cover payroll and other essential expenses during the COVID-19 pandemic.
Allows businesses to keep employees on payroll and avoid layoffs.
Offers a streamlined application process with reduced paperwork requirements.
Offers loan deferral for up to ten months, with interest rates capped at 1%
Provides additional funding for minority-owned and rural businesses through set-asides and dedicated funding.
Supports independent contractors, sole proprietors, and self-employed individuals who are eligible for loans based on their payroll costs or net income.
Economic Injury Disaster Loans (EIDL)
The EIDL program offers loans of up to $2 million to eligible small businesses and non-profit organizations affected by a disaster, including the COVID-19 pandemic. These loans are intended to cover operating expenses that the company could have covered if the tragedy had not occurred. Here are some benefits of EIDL for small businesses:
Low-interest rates of 3.75% for small businesses and 2.75% for non-profits
Repayment plans that can last up to 30 years.
For loans of up to $25,000, no collateral is required.
The money can be utilized for various business needs, such as rent, utilities, and payroll.
EIDL advances of up to $10,000 are also available, which do not need to be repaid.
To apply for an EIDL, you must have been in business as of January 31, 2020, and meet certain eligibility criteria. You can apply directly through the Small Business Administration (SBA) website.
It’s important to note that EIDL loans are not forgivable like PPP loans, meaning you’ll have to repay the loan amount and interest. However, the low-interest rates and long repayment periods can make it a manageable solution for businesses struggling during the pandemic.
Employee Retention Tax Credit (ERTC)
The ERTC is a refundable credit that can be used to offset certain employment taxes. The ERTC aims to motivate firms to retain employees throughout the COVID-19 epidemic.
To claim the ERTC, your business must have experienced either a partial or full suspension of operations due to a government order related to COVID-19 or a significant decline in revenue. Additionally, businesses must have fewer than 500 employees to qualify.
To claim the ERTC, you must report the credit on your quarterly employment tax return. If the credit exceeds the amount of employment taxes due, you can request a refund of the difference.
There are several benefits of the ERTC for small businesses, including:
The credit is worth up to 70% of eligible wages paid between March 12, 2020, and December 31, 2021.
The maximum credit is $7,000 per employee per quarter, making it a substantial financial relief for small businesses.
The credit can be applied retroactively to 2020, meaning businesses that did not claim the credit in the year can still do so on their amended returns.
The ERTC is available to businesses that received PPP loans, meaning businesses can take advantage of both programs to help them through the pandemic.
Flexibility with Retirement Plans
The temporary flexibility offered to retirement plans is one of the CARES Act measures that might help small enterprises. This provision is designed to provide small business owners and employees with greater financial flexibility during the pandemic.
One of the key changes to retirement plan rules is the increase in the loan limit. The CARES Act allows eligible participants to borrow up to $100,000 from their retirement accounts, compared to $50,000 from the previous limit. This higher loan limit may provide additional funding to small business owners and employees to help them withstand the economic effects of the pandemic.
In addition, the CARES Act also includes provisions that allow for penalty-free distributions from retirement accounts for individuals affected by the pandemic. Eligible individuals can withdraw up to $100,000 from their retirement accounts without incurring the 10% early withdrawal penalty that typically applies to distributions made before age 59½. These distributions can be spread out over a three-year period and can be repaid within that time to avoid tax liability.
Conclusion
In conclusion, the CARES Act can significantly benefit small businesses facing economic challenges due to the COVID-19 pandemic. It’s important to explore all options and take advantage of the assistance available. By utilizing the CARES Act benefits, small businesses can overcome financial hurdles and continue to contribute to the
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11 Strategies for Successful EOS Implementation
/in Entrepreneurship/by StrategyDrivenEntrepreneurial Operating System (EOS) implementation can be a transformative journey for organizations, enabling them to achieve operational excellence and drive sustainable growth. However, to ensure a successful EOS implementation, organizations need to have effective strategies in place. In this blog, we will explore 11 strategies that can help organizations achieve a successful EOS implementation and unlock their full potential. From defining clear objectives to fostering continuous improvement, these strategies can guide organizations on their EOS implementation journey.
Understanding EOS Implementation
EOS is a comprehensive framework that helps businesses achieve clarity, alignment, and traction toward their vision and goals. EOS provides a set of simple yet powerful tools and concepts that can be implemented across an organization to streamline operations, improve communication, and drive results. EOS implementation involves a structured process of aligning the organization’s vision, people, data, and processes to achieve operational excellence. It typically includes elements such as defining the organization’s core values, creating a clear vision for the future, setting specific goals and priorities, and establishing a system for accountability and performance measurement.
Strategy 1: Define Clear Objectives and Goals
The first step towards a successful EOS implementation is to define clear objectives and goals. This involves identifying the desired outcomes of the implementation, aligning them with the overall organizational strategy, and establishing measurable and achievable targets. The objectives and goals should be communicated clearly to all stakeholders, including employees, leaders, and the EOS implementer, to ensure a shared understanding and commitment to the EOS vision.
Strategy 2: Create a Detailed Implementation Plan
A comprehensive implementation plan is crucial for the successful execution of EOS. This plan should include a detailed roadmap with clear timelines, responsibilities, and milestones. It should also address potential risks and challenges and outline mitigation strategies. Securing necessary resources, such as budget, technology, and personnel, should also be included in the implementation plan. The plan should be regularly reviewed and updated as needed to ensure alignment with the overall organizational strategy and changing business needs.
Strategy 3: Foster Strong Leadership and Change Management
Leadership plays a critical role in the success of EOS implementation. A dedicated leadership team should be appointed to oversee the implementation process and ensure that leaders are aligned and committed to the EOS vision. Change management strategies should be in place to address resistance and challenges that may arise during the implementation journey. This includes effective communication, stakeholder engagement, and a supportive approach to managing change.
Strategy 4: Engage and Train Employees
Employees are key stakeholders in the EOS implementation process, and their engagement and support are critical for success. Employees should be communicated the purpose, benefits, and expectations of EOS implementation. Regular training and development opportunities should be provided to build employees’ capabilities in the EOS framework. Employees should also be encouraged to actively participate and provide feedback during the implementation process, as their insights can contribute to the success of the implementation.
Strategy 5: Monitor and Measure Progress
Monitoring and measuring the progress of EOS implementation is essential to ensure that it is on track toward achieving the defined objectives and goals. Key performance indicators (KPIs) should be established to track the progress of EOS implementation, and regular reviews should be conducted to assess the effectiveness of the implementation efforts. Data analysis and feedback from stakeholders, including employees and leaders, should be used to identify areas that require improvement and take necessary actions accordingly.
Strategy 6: Foster Continuous Improvement
EOS implementation is not a one-time event but rather a continuous journey toward excellence. Organizations should foster a culture of continuous improvement where feedback, learning, and innovation are encouraged. This includes regularly reviewing and updating the EOS framework, incorporating best practices, and driving innovation to optimize organizational performance. Continuous improvement efforts should be integrated into the organizational DNA, ensuring that the EOS implementation is sustained and continually refined to meet changing business needs.
Strategy 7: Aligning Performance Metrics
To ensure that the EOS implementation is effective, aligning performance metrics and key performance indicators (KPIs) with the organization’s overall vision and goals is crucial. This involves setting clear expectations for employees, defining measurable objectives, and regularly monitoring and reviewing progress against these metrics. By aligning performance metrics with the EOS framework, organizations can create a culture of accountability and continuous improvement, driving better results.
Strategy 8: Effective Communication
Communication plays a critical role in the success of any organizational change initiative, including EOS implementation. It is essential to establish open and transparent communication channels throughout the implementation process, from the top leadership to all levels of employees. This includes regular updates, clarifying roles and responsibilities, addressing concerns, and soliciting feedback. Effective communication ensures that employees are informed, engaged, and committed to the EOS framework, increasing the likelihood of successful implementation.
Strategy 9: Training and Development
Providing adequate training and development opportunities to employees is vital for the successful implementation of EOS. This includes educating employees about the EOS framework, its principles, and how it aligns with the organization’s vision and goals. Training should also focus on building the skills and competencies required to effectively implement EOS, such as problem-solving, decision-making, collaboration, and leadership. Investing in training and development ensures that employees are equipped with the knowledge and skills to fully embrace and implement EOS in their day-to-day work.
Strategy 10: Flexibility and Adaptability
Organizations should recognize that EOS implementation is a dynamic and iterative process that may require adjustments along the way. Flexibility and adaptability to changing circumstances, feedback, and lessons learned are crucial for successful implementation. Organizations should be open to revisiting and refining their EOS implementation plan as needed based on the evolving needs and challenges of the organization. Flexibility and adaptability allow organizations to respond to changing circumstances and optimize the EOS implementation for maximum effectiveness.
Strategy 11: Employee Involvement and Ownership
Involving employees in the EOS implementation process and giving them a sense of ownership can significantly impact the success of the implementation. This includes engaging employees at all levels of the organization, from leadership to frontline workers, in the development and execution of the EOS implementation plan. Encouraging employee feedback, suggestions, and contributions can help create a sense of ownership and commitment to the EOS framework. When employees feel empowered and involved in the process, they are more likely to embrace the changes and actively participate in implementing EOS in their day-to-day work.
Conclusion
A well-planned and executed EOS implementation can pave the way for organizational excellence, driving sustainable growth and ensuring long-term success. By following the strategies outlined in this blog and working with an experienced EOS Implementer, organizations can navigate the implementation process effectively and reap the benefits of a streamlined and high-performing operating system. Embracing EOS as a strategic approach to managing the organization’s vision, people, data, and processes can empower organizations to achieve their strategic goals and thrive in today’s competitive business landscape.
Establishing a Career in Insurance
/in Professional Development/by StrategyDrivenBecoming an insurance agent is a long, tedious process that is worth it in the long run. When you finally land a job and establish a career in insurance, it is ultimately rewarding.
Once you’ve decided you want to leap into the field of insurance, it’s important to take what type of insurance you’ll be selling, what products you want to sell, and what company you want to work for into consideration.
Insurance
First, decide what kind of insurance you want to sell. The insurance you can sell are:
The most common types of insurance future agents choose to sell are health, auto, and life insurance.
Exam
The next step in launching a career in insurance is to study and prepare for the insurance license exam. Each state license insurance exam differs, so search “Idaho insurance license exams prep” or your state and “insurance license exam prep” for exam preparation prompts.
A few tips to better prepare yourself for the exam are:
Products
Selling insurance products is another way of saying selling insurance policies. You, of course, need to decide on the insurance you want to sell, but the policies you want to sell as well.
Decide whether you want to sell commercial or personal insurance policies. If you’d rather work one-on-one with each individual you sell a policy, choose to sell personal insurance policies. If you’d rather work with companies and help ensure their employees are being taken care of, choose commercial insurance products.
Company
Deciding what insurance company you want to work for is just as important as deciding what kind of insurance you want to sell.
When deciding what company to work for, it’s important you share the same core values as the insurance company you work for. Consider the company’s mission statement and values. Compare them to your core principals and beliefs.
A great way to learn if you and the company you want to work for share the same morals is to research their website. Look on the insurance company’s website, click on their “About” page, and read their mission statement. If their mission statement aligns with your values and beliefs, then apply.
10 Must-Have Tools for Participating in an Online Cooking Workshop
/in Professional Development/by StrategyDrivenIf you’d like to host a team-building event, why not get your remote workforce together and establish a cooking workshop online? This is a great way to promote cooperation among your staff and get them involved in a fun and delicious activity.
Online companies offer cooking workshops so you can schedule a digital gathering.
Besides delivering the ingredients to each participant’s door, the host company will also provide the chef and direction. However, you’ll still need to make sure you have all the tools required to support the activity.
Ten Tools for Cooking Success
Basically, you need to have the following ten tools available to ensure that your event is a success:
1. The Recipe
Naturally, it’s easier to prepare food when you have a recipe. So, each participant needs to have a recipe, or instructions to follow.
2. Measuring Cups and Spoons
You’ll also have to have the proper measuring tools to measure out the ingredients.
3. Mixing Tools
When mixing the ingredients, you’ll need items, like wooden spoons, for mixing the ingredients. Depending on the recipe, you may need a spoon, spatula, whisk, blender, or electric mixer.
4. Pots and Pans
You’ll also need pots and pans, depending on what you plan to make. For pasta, you’ll need a pot, or a pizza pan if you’re planning to bake pizza. Make sure the pots or pans you use are made of nylon and stainless steel so they resist sticking or scratching.
5. Can Opener
Maybe you’ll need to open a can of tomato sauce. Maybe it doesn’t have a pull-off top. If so, you’ll need to have a can opener – just in case.
6. Slotted Spoon and Soup Ladle
If you’re preparing rice or pasta, you’ll need to have a slotted spoon – for draining the liquid. Or, if you cook soup, you’ll need a serving utensil, or a ladle.
7. Knives and Peelers
You cannot cook without knives or peelers, as they’re used to prepare and cut or peel vegetables and similar toppings.
8. Grater
A grater always comes in handy when you want to grate vegetables or cheese.
9. Tongs
You’ll need tongs if you cook hot foods that require care when they’re served and to prevent from getting burned.
10. Oven Mitts, Towels, and Dish Cloths
You’ll also need oven mitts for removing dishes from the oven as well as towels and dish cloths for clean-up during and after cooking activities.
Tips for Cooking Success
You should refer to the above list if you plan to hold a cooking workshop for your remote employees. Use the aforementioned suggestions as a reference.
Popular cooking workshops feature cuisine in the form of pizza, tacos, and pasta.
Ask the participants to review the recipe before the activity to ensure they have all the needed tools and can keep pace with the chef. Tools should be placed so they can access them easily.
4 Benefits of Investing
/in Practices for Professionals/by StrategyDriven1. It Keeps You Ahead of Inflation
According to experts like Patrik Edsparr and professionals in the investing business, if you don’t invest your money, you will lose it over time. That is due to inflation. This is the regular increase in prices of goods and services, which causes your dollars to have less spending power. While inflation varies widely, the historical average is a 3 percent yearly increase.
2. It Builds Your Wealth
Investing is how people build wealth. You have hundreds of different options to choose from to become an investor. If you want to build wealth, sit down with your options and plan how to make money with this approach.
3. It Gets You a Retirement Fund
To properly prepare for retirement, you need your money to work for you now. Leaving your money in a standard savings account will not cut it. Instead, investing will allow you to take advantage of compound interest, giving you a good retirement cushion.
4. It Helps You Save Tax Money
Another significant benefit is that it allows you to save money on taxes. According to investment professionals like Patrik Edsparr, putting your money into a SEP IRA, 401k or IRA prevents it from being taxed. Instead, you are taxed on your money when you take it from these accounts after you retire. That can save you a lot in taxes when you earn income.
There are a lot of benefits to investing. Creating an investment plan can help you create financial stability, build wealth and plan for retirement. Do more research and develop your portfolio to start reaping these benefits.
4 Ways Small Businesses Can Benefit From the CARES Act
/in Managing Your Finances/by StrategyDrivenAs a business owner, you’re probably always searching for ways to keep your business running smoothly. However, with the ongoing COVID-19 pandemic, it’s not as easy as it used to be. Small businesses have been hit particularly hard, with many struggling to stay afloat. Thankfully, the CARES Act offers several benefits that can help small businesses navigate economic challenges.
Signed into the law in March 2020, the Coronavirus Aid, Relief, and Economic Security Act, or CARES ACT aims to provide economic relief to individuals and businesses impacted by the COVID-19 pandemic. The act includes several provisions that are aimed specifically at helping small businesses.
Small businesses are vital to the US economy. In fact, they account for 99.9% of all enterprises in the United States and employ more than 47% of the private workforce. However, many small businesses are struggling to stay afloat due to the ongoing pandemic. The CARES Act can help ease some financial burdens small businesses face.
If you’re a small business owner, it’s important to understand the benefits of the CARES Act and how you can take advantage of them. To help you get started, the ERC Today has created a CARES Act Eligibility Guide. This guide can help you determine which benefits you’re eligible for and how to apply for them.
In this article, we’ll look at the benefits of the CARES Act for small businesses and how you can use these programs to keep your business afloat during these challenging times.
Paycheck Protection Program
As a small business owner, navigating the financial impact of the COVID-19 pandemic has likely been a major challenge. Fortunately, the Paycheck Protection Program (PPP) is one part of the CARES Act that can help ease the burden.
PPP was established to help small businesses keep their workforce employed during the COVID-19 crisis. The program provided $349 billion in loans to eligible businesses to cover payroll and other operating expenses to maintain employment levels. Loans can be partially or completely forgiven if firms meet certain criteria.
To be eligible for a PPP loan, your company must have fewer than 500 employees and have been in existence on or before February 15, 2020. Some other eligibility requirements include the following:
The Payment Protection Program (PPP) in the CARES Act offers the following benefits:
Economic Injury Disaster Loans (EIDL)
The EIDL program offers loans of up to $2 million to eligible small businesses and non-profit organizations affected by a disaster, including the COVID-19 pandemic. These loans are intended to cover operating expenses that the company could have covered if the tragedy had not occurred. Here are some benefits of EIDL for small businesses:
To apply for an EIDL, you must have been in business as of January 31, 2020, and meet certain eligibility criteria. You can apply directly through the Small Business Administration (SBA) website.
It’s important to note that EIDL loans are not forgivable like PPP loans, meaning you’ll have to repay the loan amount and interest. However, the low-interest rates and long repayment periods can make it a manageable solution for businesses struggling during the pandemic.
Employee Retention Tax Credit (ERTC)
The ERTC is a refundable credit that can be used to offset certain employment taxes. The ERTC aims to motivate firms to retain employees throughout the COVID-19 epidemic.
To claim the ERTC, your business must have experienced either a partial or full suspension of operations due to a government order related to COVID-19 or a significant decline in revenue. Additionally, businesses must have fewer than 500 employees to qualify.
To claim the ERTC, you must report the credit on your quarterly employment tax return. If the credit exceeds the amount of employment taxes due, you can request a refund of the difference.
There are several benefits of the ERTC for small businesses, including:
Flexibility with Retirement Plans
The temporary flexibility offered to retirement plans is one of the CARES Act measures that might help small enterprises. This provision is designed to provide small business owners and employees with greater financial flexibility during the pandemic.
One of the key changes to retirement plan rules is the increase in the loan limit. The CARES Act allows eligible participants to borrow up to $100,000 from their retirement accounts, compared to $50,000 from the previous limit. This higher loan limit may provide additional funding to small business owners and employees to help them withstand the economic effects of the pandemic.
In addition, the CARES Act also includes provisions that allow for penalty-free distributions from retirement accounts for individuals affected by the pandemic. Eligible individuals can withdraw up to $100,000 from their retirement accounts without incurring the 10% early withdrawal penalty that typically applies to distributions made before age 59½. These distributions can be spread out over a three-year period and can be repaid within that time to avoid tax liability.
Conclusion
In conclusion, the CARES Act can significantly benefit small businesses facing economic challenges due to the COVID-19 pandemic. It’s important to explore all options and take advantage of the assistance available. By utilizing the CARES Act benefits, small businesses can overcome financial hurdles and continue to contribute to the