0816_TOEFL-Test-and-Score-Manual-1997

40 ● 201 Great Ideas for Your Small Business
lucky, though. Sales of my first book, Succeeding in Small Business: The
101 Toughest Problems and How to Solve Them took off after USA Today
published an excerpt and an extensive profile, including a picture of me
working in my new home office.
That story prompted American Express to sponsor my syndicated
small business radio report. The radio report, which aired on CBS stations
across the country, combined with my weekly column, served as a magnet
for speaking engagements and consulting projects.
It’s been an adventure. I don’t regret quitting my job. But riding the
entrepreneurial roller coaster is why both our kids work full-time for major
media companies. Evan is a graphic designer for Bloomberg Businessweek.
Jeanne is an assistant editor at Pixar Animation Studios. When she’s not
working hard on the next big animated hit, she creates animated and experimental
videos for artists and musicians.
They vowed never to be entrepreneurs after an especially traumatic
family vacation in Las Vegas. The phone rang while we were watching TV,
and the kids (then 12 and 6 years old) were splashing in the groovy, inroom
hot tub. The call was from our bookkeeper, and she was crying so
hard I couldn’t understand what she was saying. She finally calmed down
enough to tell me we owned $91,000 in federal taxes—and it had to be paid
within 24 hours. I almost fell off the bed. We packed up and checked out.
Goodbye hot tub and mirrored ceiling. Goodbye Vegas. We stopped at
Denny’s for breakfast. I was crying so hard I couldn’t eat, but Joe said the
pancakes tasted soapy.
Thank goodness, I had the money in the bank. It turned out our flaky
former CPA had forgotten to prepare the vouchers to make the required
estimated tax payments! I was too busy running the business to keep track
of when to pay the taxes. That’s why you, the business owner, have to stay
on top of everything, especially financial matters.
Most everyone reading this book has faced similar money challenges.
So read on to learn the best way to court angel investors, how to collect
debts, and how to reduce your tax burden without raising an eyebrow from
Uncle Sam. Speaking of Uncle Sam, the U.S. government purchased $350
billion worth of goods and services in 2009, so think about whether you
can become a government vendor or supplier.
The chapter begins with one of my favorite ideas: becoming a “profit
enhancement officer,” or PEO, for your business. If you’ve had it with your