Michael graduated from Michigan State University with a Bachelor of Arts in Political Science in 2006. Michael attended the University of Wisconsin Law School and graduated cum laude in 2011. Additionally, Michael was awarded a real estate certificate for completing the University of Wisconsin Law School’s Real Estate Curriculum Concentration.

Before joining the Demorest Law Firm, PLLC, Michael completed an internship with Justice Annette Zieger of the Wisconsin Supreme Court. In law school, Michael served as an Articles Editor for the Law Review.

Fast forward to 2010 and the attached article written by Tom Harnish entitled “Finance Your New Business: It’s Not as Complicated as You Think”. The article concludes, 20% of all business start ups use some form of bank financing and 20% arrange capital from “friends, family and relatives”. The lions share of new businesses, however, are bootstrapped through its owners cobbling together approximately $10,000, who then patiently build their empires and have a keen sense of cash flow. By jumping into business before you are ready, or to put it another way, making an emotional decision rather than keeping things “strictly business”, you can only count on one thing; failure.

While patience, planning and living by the age old adage “cash is king” won’t necessarily guarantee your success, it will certainly put you on solid footing. Please see the link to Tom’s article below.

http://www.openforum.com/idea-hub/topics/money/article/finance-your-new-business-its-not-as-complicated-as-you-think-tom-harnish

This article was written by Gary Field, CPA at Numerico, PC. Click here to view Numerico’s website.

A modern variation of a non-compete dispute is currently being litigated in federal court in Minnesota. In TEKsystems, Inc. v. Hammernick et al., No 0:10-cv-00819, the plaintiff (an employer) sought to enforce a non-compete agreement with defendants (its former employees). The plaintiff alleged that the defendants impermissibly used social-networking websites to solicit contacts.  One defendant allegedly “connected” with, and communicated with, certain contract employees on the popular social networking website LinkedIn.

Although the outcome of this pending case is uncertain, employers should consider whether to specifically discuss the use of social media in non-compete agreements. This is an issue which is likely to be the subject of future litigation. We will monitor the TEKsystems case and let you know the results.

This article was written by Matthew Ehrlich, Legal Clerk at Demorest Law Firm.

Typically, in the fall of each year, we will book a conference room at a neighborhood hotel for the day. Our retreat starts at 8 AM and ends at 5 PM with snacks and beverages provided throughout the day and of course we break for lunch. On some occasions we have closed the day with a firm provided dinner.

The primary goal of the retreat is to review how we did relative to the goals set at the prior year and to set goals for the upcoming calendar year. We set some very specific goals by function (Administrative, Marketing, Service and Housekeeping) and stay on track with a well thought out, written agenda.

Our retreats always include an outside facilitator who is responsible for leading us through the agenda. This individual is a professional who knows our firm and is a very astute and successful business person. The facilitator keeps things moving, on track and ensures everyone participates.

There is no question that an annual retreat, whether done locally or in another location that doesn’t max out your budget, is one of the best investments our firm and your businesses can make. Take a look at the link below for great suggestions on how to do get the most bang for the buck both locally and in other locations.

To read Shira’s Levine’s article “6 Tips for Planning A Corporate Retreat on a Budget” please click the following link 6 Tips For Planning A Retreat.

This article was written by Gary Field, CPA at Numerico, PC. Click here to view Numerico’s website.

They rarely mix and are frequently toxic to the environment.

Although it should be noted that there are of course occasions of success, the most likely outcome is entrenched employees that are nearly impossible to remove, strained relations and uncomfortable holiday dinners. In fact, you could probably make an argument that it is easier to remove a unionized government employee than a family member who is your employee.

I recently read an interesting article that deals with this topic in the New York Times on February 11, 2010, entitled “Fire Your Relatives. Scare Your Employees. And Stop Whining” by Kermit Pattison. (Click here to read).

While some of his suggestions may be too aggressive for your average small business owner, they get right down to my point.

As a business owner you are either in it to win it or you are not.

Which are you?

This article was written by Jay Kossen, CPA at Numerico, PC. Click here to view Numerico’s website.

Though the idea of life as an endless struggle or fight for survival is romantically appealing, it’s not very efficient. Those who go through life in this way waste so much energy and time waging short-term battles that they lose the long-term war. In this case, the long-term war is productive change.

Though you can force some productive change through continual frontal assaults, there are more efficient means of accomplishing your objectives. It is shortsighted to handle all challenges with the same tactic. Different situations require different methods. By understanding the environment around the situation, you can use tactics that blend into and solve the conflict harmoniously.

If a conflict is solved in a way that creates discord (future conflict), then the situation hasn’t been resolved. You may think you have come out on top, but the conflict will usually be revisited, with much more intensity. Your short-term gain will produce long-term pain, either for you or for the other parties involved.

A basic law of the universe is that “for every action, there is an equal and opposite reaction”. The universe demands that equilibrium is maintained. Imbalances have a way of righting themselves, with the unknown variable being the time it takes for resolution. If we push a situation toward further imbalance, the time table is accelerated. The greater the imbalance becomes, the greater the force against us.

The principle of avoiding negative conflict, yet accomplishing your objectives, is the essence of a martial art called aikido. In aikido, the aggressor’s strength is never met head-on. Instead, the aikidoist, yields to the force in such a way that it is unable to cause harm and, at the same time, the force is redirected, usually to the opponent’s detriment. This is like redirecting the flow of a river instead of opposing it. Much less energy is expended, equilibrium is maintained, and the objectives are met. This principle works in most every situation.

All things in life have a balance. By approaching all situations in life as confrontations and attacking relentlessly, we eventually, upset many balances. This is not to say that you should never use a direct attack. However, by looking at the environment (which shapes the situation and its outcomes) and considering alternatives, we can accomplish our objectives and maintain a healthy, natural balance.

Have you ever stopped to consider what these types of employee time theft are costing you? An employee who robs you of 5 minutes per day 5 days per week is stealing the equivalent of approximately 2.8 days per year assuming an 8 hour work day.

If you pay an employee $15 an hour and that employee is stealing 2.8 days per year, it’s costing you $396 per year considering a factor for payroll taxes and employee fringe benefits.

If your employee steals an hour a day 5 days per week the cost of the theft has just skyrocketed to 33 days per year and $4,680 again considering a factor for payroll taxes and employee fringe benefits.

How can you control expensive employee time theft? Clearly state policies in the personnel guide and have employees sign it to be sure they have read the guide and understand the policies. The guide should include policies on personal phone calls, cell phone use, internet use and working hours as well as policy relating to tardiness.

Let your employees know how much you are willing to tolerate—you can disallow personal phone calls except in the case of an emergency. Talk to “tardiness” offenders—tell them their pay will be docked or worse—remind them that everyone in the office is a professional, and professionals don’t punch a time clock. Make it clear that cell phone use of any sort or “surfing the net” will not be tolerated UNLESS it is business related.

The key is to be aware of the situation, bring it to the employee’s attention, specify the ramifications should they fail to modify their activities, and consistently enforce the penalty you have set. If it’s clearly a matter of policy, you take the emotion out of your reaction and simply make a good business decision.

This article was written by Gary Field, CPA at Numerico, PC. Click here to view Numerico’s website.

On the other hand, ask them what makes an entrepreneur succeed, and you should hear statements like “owner’s self-confidence”, ”emphasis on service (quality) rather than price”, “working hard”, ”luck”, “devoting full time to the business”, “industry expertise”, and “making a significant capital investment”…

The point is, to succeed, you need not only the desire, but a well-rounded understanding of the pros, the cons, and how to exploit or avoid them.

A prudent business owner does his homework by considering the possibilities mentioned earlier and determining, in advance of their occurrence, how to avoid the “pitfalls” and ensure success. One of the keys to success is turning to experts for professional advice.

If you make a practice of turning to objective professionals early on in the planning process, you’ll increase your likelihood of finding the avenues which will lead to your success.  For example, a good banker can be very helpful in identifying credit needs, an insurance agent in identifying risks that need covering, an attorney concluding on the appropriate business form (sole proprietor, partnership, LLC and “C or S” corporations) and CPA can advise as to cash flow needs, accounts receivable control, tax planning direction and much, much more. Consider bringing your local banker, insurance agent, attorney and CPA on board sooner than later. By doing so what you will find is you can focus on what you do best – managing your business – knowing you’ve got a team working with you to handle matters outside your realm of expertise.

This article was written by Gary Field, CPA at Numerico, PC. Click here to view Numerico’s website.

In today’s business environment, decision-making is becoming more complex. There are many more variables to consider, which makes dealing with a new situation even more difficult. But there are ways of honing our decision-making skills to simplify the process.

Knowing your objectives is one of the most important, but often overlooked, ways to sharpen your skills. The more you are aware of your core values and objectives, the easier your decision-making will be.

Attachment to one outcome will limit your effectiveness as a decision-maker. The problem-solving process should unearth many viable alternatives. Your job is to decide which solution is best in light of the facts. If you’ve pre-selected an outcome, without considering other options, you run the risk of making the wrong decision. This can be costly in the business world.

Involving those people affected by the decision helps clarify objectives and eliminates some alternatives right away, simplifying your choices. Further, if the wrong person is making the decision, you can be assured that the potential for failure is much higher. Decisions are always best when made by the people closest to where the decision will be implemented.

Gathering too much information is a common problem in decision-making. Generally, only 20% of all decisions need to be put off to gather more information. How do your know when your have enough information? Ask yourself this simple question, “how much impact will additional information have on my decision?” Once you’ve answered that, consider the costs of gathering the additional information and add the costs (if any) associated with delay.

So what’s the solution to poor decision making? Practice. Start with small decisions, strengthening your skills, and move up to the bigger decisions. As your skill level increases, so will your success rate. And always remember, it’s your choice.

This article was written by Gary Field, CPA at Numerico, PC. Click here to view Numerico’s website.