On episode 342 of Business Insanity Talk Radio, we first talk about debt collection. Have you ever tried to collect debt from a client or has debt ever been collected from you? We have tips for how you should act in each situation. Next, payroll is becoming increasingly complicated, President Obama wants to rewrite the overtime rules and minimum wage is going up; we give small businesses solutions to all of it. In addition, hear how businesses are transforming, and saving, small towns across the country.
Listen and enjoy:
Segment 1: Mike Cardoza is a former senior executive of a debt-buying company, a debt collection agency, and a major regional high-volume debt collection law firm. He now brings his experience and skill as an attorney to help consumers everywhere regain control of their financial lives by getting the upper hand on creditors and debt collectors. Mike founded The Cardoza Law Corporation in order to share the truth about consumer credit and finance with clients and to be their “partner in prosperity”. He is the author of “The Secret World of Debt Collection: Beat Collectors at Their Own Game – A Former Collections Executive Reveals How”.
1:45 – You are not your debt.
2:45 – What are the real reasons people pay debt collectors even when they don’t have to?
5:00 – How do small businesses collect debt from others?
6:30 – Why it is important for small business owners to keep their personal and business financials separate.
8:45 – Do the accounts need to be in different names (i.e. personal and business)?
Segment 2: Joshua Reeves believes in the power of software to solve complex problems and co-founded Gusto (formerly ZenPayroll) to deliver delightful, modern payroll to businesses everywhere. Joshua was selected to the 2012 Forbes 30 Under 30 list and is a regular contributor to Forbes, Entrepreneur and Business Insider. Prior to co-founding Gusto, Joshua was the CEO and co-founder of Unwrap, a SaaS start-up which was acquired in 2010, and he began his career as an early employee at Zazzle.
15:30 – Every year in the US, one third of companies get fined for incorrectly doing their payroll taxes. How does Gusto help?
16:30 – 40% of companies do payroll by hand. Why it doesn’t have to be that way.
18:30 – Large companies can learn a lot from small business. How so?
20:00 – Why don’t most small businesses take advantage of services like Gusto?
21:45 – Why payroll is becoming increasingly complicated and why business owners shouldn’t have to learn every rule.
Segment 3: Winnie Sun is the Managing Director and Founding Partner of Sun Group Wealth Partners, a trusted financial consulting firm providing financial planning services to small business owners, senior executives, celebrities, and established families throughout the West Coast. With more than 15 years of experience in the financial services industry, Winnie is frequently featured as a “top advisor” speaker at national industry events, is a regular contributor to Forbes, appears on CNBC’s live Closing Bell and been quoted in publications including The Wall Street Journal, CNBC, NY Times. Winnie will be the host of a business show for TuneIn Radio titled Renegade Millionaire.
31:15 – What is the Obama administration proposing in regards to employee overtime and how is it going to affect small businesses?
31:55 – Does this new overtime law affect exempt and non-exempt employees alike?
32:45 – How can this law negatively affect employees?
34:45 – How can this law naturally make employees more efficient?
Segment 4: Andrew Davis’ 20 year career has taken him from local television to the Today Show. He has worked with the Muppets in NY and he has marketed for tiny start-ups and Fortune 500 brands. He is the author of “Brandscaping: Unleashing the Power of Partnership”, one of Amazon’s top 100 marketing books. He has produced a documentary film called Roadside Ambition, the amazing true story of one small town and two huge balls. His new book “Town, Inc.” is coming out this Fall.
40:45 – How are businesses transforming small towns?
41:50 – What is location envy and how can it help a small town?
42:15 – How do big businesses move into small towns?
43:05 – Why are some small towns booming while others are bust?
45:30 – How does a small business get started on claiming their town?
Segment 5: Michael Saltsman is the Research Director at the Employment Policies Institute and former field economist at the Bureau of Labor Statistics.
49:45 – Now that Chicago’s minimum wage increase is phasing in, how are small businesses performing?
50:40 – Is raising prices to make up for the wage increase a bad idea?
51:15 – What are other alternatives to increasing the minimum wage?
