By

Greg McDonough

US Treasury prepares to launch expanded entrepreneur rescue program

$10 billion set aside to help businesses recover, especially those facing disadvantages Some companies that survived the pandemic have found ways to pivot, innovate and adapt to the new circumstances of a changed world. In some cases, they even managed to thrive. But many others are still hanging on by a thin thread as they...
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Tech entrepreneur teaches team to face unexpected circumstances

In my first podcast episode, I spoke with FMS Inc. owner and founder Luke Chung. On the morning of 9/11, Luke Chung was among millions of Americans reeling with shock and horror when terrorists hijacked four airplanes and slammed them into New York City’s Twin Towers and the Pentagon headquarters in Washington, DC. Bystanders felt...
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Is the Window Closing for Small Business Loans?

With interest rates set to rise this year, many businesses are thinking about getting access to some additional cash before the cost of borrowing goes up.  However, just because interest rates are going up, is that a good reason to get a loan?  A better question to ask is “regardless of interest rates, is getting...
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Entrepreneurs exhibit typical fighting spirit but burnout is taking its toll

Responsibilities of leadership can cause mental health challenges in Covid era Each person enduring the global pandemic has their own story to tell, an individual set of challenges and struggles that is uniquely their own. For entrepreneurs, the Covid experience is often characterized by workplace turmoil and a battle to stay in business amid constantly...
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Endurance training provided knowledge that possibly saved my life

Entrepreneurs’ Organization supported me every step of the way There are many reasons why I love competing in triathlons. Not the least of them is the lingering feeling that one day, my endurance training might equip me to save someone’s life. I just didn’t know it would be my own. I spent most of last...
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Finding ways to earn ‘experience dividends’ can lead to a big payoff over time

Dedicating resources towards having adventures adds to quality of life I am currently knee-deep into a book titled Die with Zero (2020) that was recommended by my close friend, Yash. The author, Bill Perkins, discusses a concept he calls “experience dividends.” This refers to the reward you receive after an experience has been lived. It’s...
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Infrastructure bill nixes employee retention credit for Q4

Employers who held back funds for wages paid in Oct/Nov will have to pay it back This Monday, President Biden will sign the infrastructure bill into law with some hoopla – a bipartisan ceremony celebrating the truce, as votes for the bill came from both sides of the aisle. The $1 trillion Infrastructure Investment and...
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Employee tax credit gives businesses a helping hand

For many entrepreneurs, surviving the COVID-19 pandemic will be the biggest test they will face in their companies’ lifetimes. But they don’t have to endure it without help. The federal government has put resources in place to assist businesses struggling to keep their doors open. The Employee Retention Tax Credit (ERTC) is an incentive that...
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Make time now to get organized for next year – financial management best practice

After living through 2020, we all should have a new appreciation for managing risk. Our recent experience with the COVID-19 pandemic is a clear illustration that there are unidentified risks in the market. The National Restaurant Association released the results of a survey this week revealing that 17% of restaurants nationwide, more than 110,000 establishments,...
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Interior Designers, Are You Evaluating Your 2020 Financial Performance Accurately?

You might have to read your business financials differently at year-end this year. Many of my clients experienced a ‘gap’ in work and revenue during the pandemic’s initial months. Firms in the interior design industry had to delay scheduled installations, which affected project deadlines and revenue recognition. Many interior design firms are also experiencing delays...
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