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In this episode, we explore the latest Sources Sought notice from the United States Geological Survey (USGS), focused on support for the Federal Geographic Data Committee (FGDC) and Geospatial Shared Services. This is a key early-stage market research effort aimed at identifying qualified organizations for a potential multiple-award IDIQ contract. We break down the draft Statement of Work (SOW), the relevant NAICS code (541519), and what capabilities the USGS is looking for in future partners. If your team has geospatial, IT, or data governance expertise—this is one to watch.
In this episode, we break down the Advisory Support & Technical Requirement Administration (ASTRA) MA-IDIQ, a $480 million Multiple Award IDIQ from the Department of the Air Force. With a focus on systems engineering, R&D prioritization, intelligence analysis, project management, and organizational studies, this contract offers substantial opportunities under NAICS 541330.We'll explore key requirements, strategic positioning, and insights to help your business prepare for the anticipated May 2025 RFP release. If you're looking to expand into high-value defense contracts, this is a must-listen.
In this episode, we dive into the PMA-281 Hardware & Software Development and Sustainment MA-IDIQ, a $605.47 million contract from the Department of the Navy. With up to 12 awards and a total small business set-aside, this Multiple Award IDIQ is a major opportunity for companies in software and hardware development, systems engineering, risk management, and more.We'll explore the key requirements, NAICS 541511 scope, and critical strategies to help your business prepare for the anticipated May 2025 RFP release. Whether you specialize in software development, program security, anti-tamper solutions, or test and sustainment, this contract could be your gateway to long-term success in the defense sector.
In this episode, we break down the CADE Support Service contract, a $70M–$300M Multiple Award IDIQ from Washington Headquarters Services. With a focus on systems engineering, program management, IT operations, cost data collection, and specialized tools, this contract is a prime opportunity for businesses in NAICS 541611.We'll explore the anticipated scope, key requirements, and winning strategies to help your business prepare for the expected May 2025 RFP release. Whether you're an experienced government contractor or a growing business looking to expand, this contract could be a game-changer.
In this episode, we explore the Special Operations Forces Global Services Delivery contract, a $1 billion Multiple Award IDIQ from U.S. Special Operations Command (USSOCOM). With up to 15 awards and a total small business set-aside, this contract presents a major opportunity for companies specializing in education and training, management support, program management, engineering, intelligence services, and more.We break down the key requirements, NAICS 541611 scope, and strategies to help your business compete effectively before the anticipated May 2025 RFP release. Whether you're a small business aiming to enter the defense sector or an experienced contractor looking to expand, this episode provides the insights you need to maximize your chances of success.
In this episode, we dive into VERTEX 3, a $730 million Multiple Award IDIQ from the National Geospatial-Intelligence Agency (NGA). This highly competitive contract supports the MOJAVE FA1 program, focusing on staff augmentation and operational services to enhance daily functions. Key areas include business administration, project oversight, facilities management, communications, training, and design services.With 9 anticipated awards and a planned RFP release in October 2025, now is the time to position your team for success. We break down the NAICS 541611 requirements, key roles, and strategic insights to help you stay ahead of the competition.
Ever been burned by finance companies, I know I have. So often as small minority owned businesses we do not get the best rates, offers or just out right get taken advantage of because of what we don't know. Thanks to our new partner, Encore Funding we are now bringing you a trusted source for government contract financing. With more than $500M in funding going to minorities alone in 2024 Encore is here to support your business. Visit encoregov.com for information on how to apply. On this episode of the Govcon Giants podcast, I sat down with Meghan Leemon, a partner at PilieroMazza and a trusted expert in government contracting law, to break down one of the most important SBA updates we've seen in years. The final rule—effective January 2025—loosens the grip on investor control in 8(a) companies, allowing for expanded minority ownership rights. Meghan walks us through how investors can now have defined veto rights, what qualifies as “extraordinary circumstances,” and how this shift opens up real opportunities for outside capital while keeping the qualifying owner in the driver's seat. We also get into the weeds on ownership limits, NAICS code restrictions, and how existing or potential 8(a) firms should approach these changes strategically. Meghan clarifies the nuance around owning multiple 8(a) businesses and what kind of due diligence is needed if your company is in a similar line of business. Plus, we touch on the constitutional challenges to the program post-Ultima and what you need to know to stay compliant while taking full advantage of the new rules. Tune in to hear how this affects your investments, partnerships, and business growth inside the federal contracting space.
The discussion in this bonus episode of The DYOJO Podcast emphasizes the importance of trade association involvement, highlighting the upcoming RIA International Restoration Convention and Expo in West Palm Beach from April 28-30. The event will feature member-driven initiatives, including position papers on best practices and ethical standards. The association is working on obtaining a NAICS code to distinguish its unique skill set. C&R Magazine and The DYOJO have joined forces with The 5050 Challenge which aims to encourage contractors to get out of their comfort zone to expand their professional networks. Pete Consigli joins the conversation to invite listeners to his roast to raise funds for educational initiatives. Jon Isaacson's book, Be Intentional: Estimating, will be available at the event, focusing on estimating mindsets and habits.
Dive into the CMS Enterprise Operations Blanket Purchase Agreement—a contract opportunity from the Department of Health and Human Services with an estimated value of $236.2 million. Set for an RFP release in April 2025 and structured as a Multiple Awards BPA under NAICS 541611, this contract will distribute 6 awards covering key requirements such as performance and data management, portfolio and project management, change management, strategy development and implementation, and mission essential planning and response.Curious about how this opportunity could transform operational excellence in government services? Tune in to our podcast for a detailed breakdown, insider insights, and everything you need to know to stay ahead.Contact ProposalHelper at sales@proposalhelper.com to find similar opportunities and help you build a realistic and winning pipeline.
Get ready for another exciting contract opportunity: HSA20240822 – Technical Expertise and Support Services from the Department of Transportation. With an estimated contract value of $58 million, four anticipated awards, and a multiple-award IDIQ structure (NAICS 541990), this project is set to launch in April 2025. The contract spans a variety of critical task areas—technical support and assistance, professional capacity building, audience outreach, and operations and administrative program support.Want to know more about how this opportunity could impact your business strategy? Tune in to our podcast, where we break down key insights, share preparation tips, and highlight what you need to succeed.Contact ProposalHelper at sales@proposalhelper.com to find similar opportunities and help you build a realistic and winning pipeline.
Get ready for a deep dive into the HHS ONE Professional Services Solution—an upcoming government contract with an estimated value of $3.6 billion from the Department of Health and Human Services. Set for an RFP release in April 2025, this multiple-award IDIQ opportunity (NAICS 541690) targets two key task areas: cutting-edge STEM services and business/operational support to drive STEM activities forward. With five awards anticipated, this contract is poised to reshape how professional services are delivered in the public sector.Curious about the finer details and insider tips on what this means for industry professionals? Tune in to our podcast now and join the conversation!Contact ProposalHelper at sales@proposalhelper.com to find similar opportunities and help you build a realistic and winning pipeline.
In this episode of the FedBiz'5 podcast, host Bobby Testa sat down with senior government contracting specialist Frank Krebs to discuss the changing landscape of government contracting under the new Trump administration. With small businesses wondering what 2025 holds, Frank provided key insights and strategies to stay competitive.What Small Businesses Should ExpectWith the administration's first 100 days underway, many agencies like the Department of Education and the EPA are facing potential budget cuts, creating uncertainty. However, Frank emphasized not to panic—billions in government contracts will still be available, particularly in stable sectors like the Department of Defense and Homeland Security.Additionally, businesses should anticipate a slowdown in new government contract awards as agencies reassess budgets and priorities. While this may seem like a setback, it also presents an opportunity to refine strategies and establish stronger relationships with contracting officers.Key Strategies for SuccessReassess Your Position – Review your SAM.gov and DSBS profiles to ensure accuracy and relevance. Make sure they align with your current business goals and capabilities.Update Your Capability Statement – Your capability statement is often the first impression contracting officers get of your business. Ensure your NAICS codes, past performance, and contact details are up to date.Increase Government Marketing – Now is the time to reach out to contracting officers before they get overwhelmed. Building relationships now will keep you top-of-mind when contracts become available.Why Market Now?Although new contract awards may be slow, contracting officers are preparing for an influx of work. They are currently reviewing potential vendors, making this the perfect time to establish connections. By reaching out now, sending capability statements, and scheduling briefings, businesses can position themselves ahead of the competition.Another key factor is the expected reduction in available contracting officers due to hiring freezes and potential agency restructuring. When contracts begin flowing again, many officers will be handling the workload of multiple people. If your business has already established a relationship with them, you're far more likely to be on their radar when they need vendors quickly.Final ThoughtsFrank advises small businesses to stay informed through the FedBiz Access website and continue positioning themselves for upcoming opportunities. Being proactive, staying compliant, and refining marketing efforts now will put businesses in a prime position for future government contracts.If you haven't already, start optimizing your government contracting strategy today. Need help navigating government contracting? Schedule a free consultation with a FedBiz Specialist today! Call 888-299-4498 or visit FedBizAccess.com.Stay Connected: Signup for our Once-Monthly "Contractor Chronicle" Newsletter Follow Us on Facebook Follow Us on LinkedIn
In this episode, we break down the GSA OASIS+ Small Business RFP, a pivotal contracting vehicle that opens the door for small businesses to provide a wide range of services to federal agencies. Whether you're looking to enter or expand in the federal marketplace, understanding the structure and key requirements of this RFP is crucial.What You'll Learn:Contract Structure: Understanding the Multiple Award, Indefinite Delivery/Indefinite Quantity (MA-IDIQ) setup and how it benefits small businesses.Domain-Based Framework: How services are categorized across various domains like IT, Engineering, Research, and Logistics, and what NAICS codes you need to be aware of.Evaluation Criteria: Key factors that will influence how your proposal is evaluated, including the Qualifications Matrix and the importance of federal project experience.Small Business Set-Asides: How small businesses can compete within designated "fair opportunity pools" and ensure they meet eligibility requirements.Cybersecurity and Compliance: The cybersecurity measures needed to protect federal contract information and ensure compliance with NIST standards.Contractor Performance: Insights on "on-ramping," "off-ramping," and the expectations for maintaining good standing within the program.Don't miss out! Tune in to understand how to make your small business a competitive contender for federal contracts. Click play now and get the knowledge you need to succeed!Contact ProposalHelper at sales@proposalhelper.com to find similar opportunities and help you build a realistic and winning pipeline.
In episode 632, Ansley Beutler teaches us how to navigate the complexities of IRS audits as small business owners and how to recognise key red flags that might trigger an audit. Ansley launched her blog, The Fit Peach, in 2018, sharing simple, family-friendly recipes that prove healthy eating can be both delicious and approachable. Her passion for flavor-packed, wholesome meals quickly resonated with a growing community of home cooks and wellness-minded individuals. Building on her experience as a CPA and her firsthand knowledge of running a successful blog, Ansley founded Peach Perfect Financials—a boutique accounting firm dedicated to empowering creative entrepreneurs. Specializing in bloggers and content creators, her firm offers tailored financial services, including bookkeeping, tax planning, and retirement strategies. With a unique blend of professional expertise and industry insight, Ansley helps entrepreneurs navigate the financial challenges of self-employment, enabling them to focus on what they love: growing their business. In this episode, you'll learn the importance of accurate bookkeeping and clear documentation, how to deal with the audit process itself, and strategies for effectively managing the emotional and logistical challenges that can arise. Key points discussed include: - Understand your NAICS code: The NAICS code is crucial in determining industry-specific expense and profit margin expectations from the IRS. Make sure you have the right code (711510 for bloggers/influencers) to avoid red flags. - Maintain a reasonable profit margin: The IRS looks for profit margins that are in line with industry standards. Consistently low or negative profit margins can raise questions. - Pay yourself a reasonable salary: If you have an S-corp, be sure to pay yourself a salary that is proportionate to your business's profitability to avoid potential issues. - Keep detailed bookkeeping records: Organized and well-documented financial records can make the audit process much smoother and demonstrate your commitment to compliance. - Cooperate and communicate proactively: If audited, be responsive to the IRS's requests and communicate openly about your business practices. This can go a long way in resolving any concerns. - Understand the emotional impact: Audits can be stressful and emotionally draining, so be prepared to manage your emotions and seek support if needed. Avoid lumping expenses into broad categories: Provide clear breakdowns and explanations for specific expense categories, as the IRS may scrutinize these closely. - Leverage your CPA's industry knowledge: Having a CPA who understands your business model and industry can help ensure proper expense reporting and minimize audit risks. - Focus on your "why": During challenging times, such as an audit, remember the reasons why you started your business and let that drive you forward. Connect with Ansley Beutler Website | Instagram
Have you wanted an episode entirely dedicated to Pokemon trivia? Then look no further! We invited Zander Bennett onto the show to quiz Alex and Andrew! Zander has hosted trivia nights at the last couple NAICs and Wolrd Championships! Come be quizzical and play along!
Get Magic Mind at 50% off with the Black Friday offer, available only through my link until December 6th: https://www.magicmind.com/gsabfAny business doing work with the federal government needs a SAM.gov registration, but there are some particular elements that GSA vendors need to pay attention to. If you're an existing GSA vendor or a prospective one, hop into the episode to see if you've answered their questions correctly.As always if you have any questions, or if you'd like direct support from a GSA consultant to help with a specific project please feel free to reach out to us at podcast@elevategsa.comEpisode Notes:For more episodes: www.elevategsa.com/podcastRegister your SAM account here: https://sam.gov/content/entity-registration
Navigating the federal contracting landscape can be challenging, especially when deciphering notices on SAM.gov. In the latest FedBiz'5 podcast, we explored the types of contract opportunities available and how contractors can leverage them to succeed. Here's a breakdown of the key notices and what they mean for your business.1. Award Notices and Special NoticesAward Notice: Announces contract awards, detailing award amounts and successful bidders. While no action is required, these notices offer insights into pricing and potential subcontracting opportunities.Special Notice: Used to share event details, procurement forecasts, or pre-bid conference schedules. Though they don't present immediate bidding opportunities, they are crucial for networking and understanding future procurements.2. Sources Sought NoticesSources Sought notices are part of the government's market research, identifying qualified vendors for upcoming opportunities.Action Step:Responding is a prime opportunity to market your business to government buyers. Submit your capability statement, highlighting your NAICS and PSC codes, certifications, and unique value. Even a brief response can increase your visibility and position your company as a go-to vendor.3. Pre-Solicitation NoticesPre-solicitation notices alert vendors about upcoming solicitations. These may include an "interested vendors list," which allows you to express interest and gain visibility. By responding, you can help influence procurement strategies, such as advocating for small business set-asides.4. Solicitations and Combined Synopsis/SolicitationsThese are the formal opportunities to bid. Combined synopsis/solicitations typically include more upfront details and are often used for simplified acquisitions.Pro Tip:Carefully review all instructions and evaluation criteria in the solicitation. Ensure your response aligns with the government's expectations to avoid disqualification.Best Practices for ContractorsStay Proactive: Track notices that align with your capabilities and act early.Showcase Your Strengths: Ensure your capability statement is updated and accessible.Build Relationships: Use special notices and events to network with buyers.Follow Instructions: Always adhere to the detailed requirements in solicitations.Why Choose FedBiz AccessFor over 23 years, FedBiz Access has helped clients win $35.8 billion in awards. Our experts provide tailored solutions, including capability statements and government-focused landing pages, to help you succeed in the federal marketplace.Get StartedFedBiz Access specialists are here to guide you through the complexities of government contracting. Schedule a complimentary consultation today by calling 888-299-4498 or visiting FedBizAccess.com.Let us help you turn federal opportunities into success stories!Stay Connected: Signup for our Once-Monthly "Contractor Chronicle" Newsletter Follow Us on Facebook Follow Us on LinkedIn
In this episode of Teacher Let Your Light Shine, we're diving into one of the biggest challenges for microschool founders and homeschool hybrid leaders: legal compliance and navigating regulations. If you're wondering how to legally structure your school, what insurance requirements you need to meet, or how to secure the right licensing, this episode will answer all your questions and more. Running a microschool, homeschool hybrid, or childcare setting comes with legal obligations that can seem overwhelming, but they're crucial for protecting your school, students, and staff. Whether you're just starting out or scaling up, understanding these legal steps can make or break your journey. Episode Highlights Certification and Licensing Requirements: Learn what licenses you may need, especially in Florida, and discover the steps to get answers if state departments are slow to respond. LLC Setup and NAICS Codes: We cover which NAICS codes you can use to register your school and ensure compliance. Insurance Essentials: From playground requirements to the need for fencing, find out what insurance companies typically expect for microschools and hybrid schools. Background Checks for Staff: Quick and reliable background check options that meet state guidelines. Grant Management and Taxes: Get insights on managing grants, including setting aside funds for taxes and knowing when grants are taxable. Selling Your Microschool: If you're ready to move on, we provide tips on preparing your microschool for sale and how to work with potential buyers. Why Legalities Are Important for Microschools and Homeschool Hybrids Legal requirements can feel like a burden, but they're crucial for protecting your school's future. Ensuring compliance not only protects you legally but builds trust with parents, students, and the wider community. How MicroSchool Masterminds Can Help You Stay Compliant MicroSchool Masterminds is here to help you navigate these complex requirements, offering support on everything from state laws to insurance needs. Our community provides resources, real-life insights, and templates, making compliance manageable and clear. Tune in to the full episode to gain the confidence and tools you need to tackle legalities head-on, and discover how MicroSchool Masterminds can help simplify every step of the process. Ready to stop guessing and get answers? Join our MicroSchool Masterminds community and gain access to exclusive resources for running a successful and compliant microschool. Visit Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching We also invite you to join your new FAVORITE online community full of resources, templates, videos, LIVE Q and A, Group Coaching and New Monthy Content Centered around your Educational Entrepreneurship Needs! Microschool Masterminds, designed to help you start or grow your micro school by maximizing your time, optimizing your finances, and mastering your marketing. Whether you are a seasoned microschool owner or a teacher with a dream, Microschool Masterminds provides a dedicated space to share resources, collaborate with fellow educators, and access expert guidance. Join us as we embark on this journey together. Your dreams are about to take flight. No more fears, no more hesitations. Microschool Masterminds is here to fuel your journey. It's your time. Your destiny awaits. Let's soar together into a future of limitless possibilities. VELA Organization: VELA Education Fund Join our Mastermind Program! Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching Launch and Scale Your Microschool or Homeschool Hybrid by Maximizing Your Time, Optimizing Your Finances and Mastering Your Marketing! With our program, you'll confidently navigate the journey of starting or growing your educational venture, equipped with the tools and support needed to achieve lasting success! Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching Join Our Facebook Group for a supportive community and the “best place on the corner of the internet” Teacher, Let Your Light Shine's Microschool Community | Facebook Book a Clarity Coaching Session: Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching Get started on your dream school right now! Get all the documents you need to jumpstart, market and enroll students! Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching We have step-by-step instructions to help you write powerful marketing brochures, enrollment forms, introductory packets, and so much more! You'll also find easy-to-use templates made to simplify your creation process, as well as beautiful real-life examples used by my micro-school, Lighthouse Learning, to give you creative inspiration when designing your very own forms. You will be able to seal the deal with peace and clarity when you hand deliver your new handbook and contract. Tune in to today's episode to find out more and head over to our shop to purchase your documents at Teacher Let Your Light Shine Microschool, Learning Pod, Tutoring and Homeschool Business Coaching
Our US public policy and global economics experts discuss how an escalation of US tariffs could have major domestic and international economic implications.----- Transcript -----Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Morgan Stanley's US Public Policy Strategist. Arunima Sinha: And I'm Arunima Sinha, from the Global Economics team. Ariana Salvatore: Today we're talking tariffs, a major policy issue at stake in the US presidential election. We'll dig into the domestic and international implications of these proposed policies. It's Tuesday, October 1st at 10am in New York. In a little over four weeks, Americans will be going to the polls. And as we've noted on this podcast, it's still a close race between the two presidential candidates. Former president Donald Trump's main pitch to voters has to do with the economy. And tariffs and tax cuts are central to many of his campaign speeches. Arunima Sinha: You're right, Ariana. In fact, I would say that tariffs have been the key theme he keeps on coming back to. You've recently written a note about why we should take the Republicans proposed policies on tariffs seriously. What's your broad outlook in a Trump win scenario? Ariana Salvatore: Well, first and foremost, I think it's important to note that the President has quite a bit of discretion when it comes to trade policy. That's why we recommend that investors should take seriously a number of these proposals. Many of the authorities are already in place and could be easily leveraged if Trump were to win in November and follow through on those campaign promises. He did it with China in 2018 to 2019, leveraging Section 301 Authority, and many of that could be done easily if he were to win again.Arunima Sinha: And could you just walk us through some of the specifics of Trump's tariff proposals? What are the options at the President's disposal? Ariana Salvatore: Sure. So, he's floated a number of tariff proposals -- whether it be 10 per cent tariffs across the board on all of our imports, 60 per cent specifically on China or targeted tariffs on certain goods coming from partners like Mexico, for example. Targeted tariffs are likely the easiest place to start, especially if we see an incrementalist approach like we saw during the first Trump term over the course of 2018 to 2019. Arunima Sinha: And how quickly would these tariffs be implemented if Trump were to win? Ariana Salvatore: The answer to that really depends on the type of authorities being leveraged here. There are a few different procedures associated with each of the tariffs that I mentioned just now. For example, if the president is using Section 301 authorities, that usually requires a period of investigation by the USTR -- or the US Trade Representative --before the formal recommendation for tariffs.However, given that many of these authorities are already in place, to the extent that the former president wants to levy tariffs on China, for example, it can be done pretty seamlessly. Conversely, if you were to ask his cabinet to initiate a new tariff investigation, depending on the authority used, that could take anywhere from weeks to months. Section 232 investigations have a maximum timeline of 270 days. There's also a chance that he uses something called IEEPA, the International Emergency Economic Powers Act, to justify quicker tariff imposition, though the legality of that authority hasn't been fully tested yet. Back in 2019, when Trump said he would use IEEPA to impose 5 per cent tariffs on all Mexican imports, he called off those plans before the tariffs actually came into effect. Arunima Sinha: And could you give us a little more specific[s] about which countries would be impacted in this potential next round of tariffs -- and to what extent? Ariana Salvatore: Yeah, in our analysis, which you'll get into in a moment, we focus on the potential for a 10 per cent across the board tariff that I mentioned, in conjunction with the 60 per cent tariff on Chinese goods. Obviously, when you map that to who our largest trading partners are, it's clear that Mexico and China would be impacted most directly, followed by Canada and the EU.Specifically on the EU, we have those section 232 steel and aluminum tariffs coming up for review in early 2025, and the US-MCA or the agreement that replaced NAFTA is set for review later in 2026. So, we see plenty of trade catalysts on the horizon. We also see an underappreciated risk of tariffs on Mexico using precedent from Trump's first term, especially if immigration continues to be such a politically salient issue for voters. Given all of this, it seems that tariffs will create a lot of friction in global trade. What's your outlook, Arunima? Arunima Sinha: Well, Arianna, we do expect a hit to growth, and a near term rise in inflation in the US. In the EU, our economists also expect a negative impact on growth. And in other economies, there are several considerations. How would tariffs impact the ongoing supply chain diversification? The extent of foreign exchange moves? Are bilateral negotiations being pursued by the other countries? And so on.Ariana Salvatore: So, a natural follow up question here is not only the impact to the countries that would be affected by US tariffs, but how they might respond. What do you see happening there? Arunima Sinha: In the note, we talked with our China economists, and they expect that if the US were to impose 60 per cent tariffs on Chinese goods, Beijing may impose retaliatory tariffs and some non-tariff measures like it did back in 2018-19. But they don't expect meaningful sanctions or restrictions on US enterprises that are already well embedded in China's supply chain. On the policy side, Beijing would likely resort less to Chinese currency depreciation but focus more on supply chain diversifications to mitigate the tariff shock this time round. Our economists think that the risk of more entrenched deflationary pressures from potential tariff disruptions may increase the urgency for Beijing to shift its policy framework towards economic rebalancing to consumption.In Europe, our economists expect that targeted tariffs will be met with challenges at the WTO and retaliatory tariffs on American exports to Europe, following the pattern from 2018-19, along with bilateral trade negotiations. In Mexico, our economists think that there could be a response with tariffs on agricultural products, mainly corn and soybeans.Ariana Salvatore: So, bringing it back to the US, what do you see the macro impact from tariffs being in terms of economic growth or inflation? Arunima Sinha: We did a fairly extensive analysis where we both looked at the aggregate impacts on the US as well as sectoral impacts that we'll get into. We think that a pretty reasonable estimate of the effect of both a 60 per cent tariff on China and a 10 per cent blanket tariff on the rest of the world is an increase of 0.9 per cent in the headline PCE prices that takes into effect over 2025, and a decline of 1.4 percentage points in real GDP growth that plays out over a longer period going into 2026. Ariana Salvatore: So, your team is expecting two more Fed cuts this year and four by the first half of 2025. Thinking about how tariffs might play into that dynamic, do you see them influencing Fed policy at all? Arunima Sinha: Well, under the tariff scenario, we think that it's possible that the Fed decides to delay cuts first and then speed up the pace of easing. So, in theory, the effect of a tariff shock is really just a level shift in prices. And in other words, it's a transitory boost to inflation that should fade over time.Because it's a temporary shock. The Fed can, in principle look through it as long as inflation expectations remain anchored. And this is what we saw in the FOMC minutes from the 2018 meetings. In a scenario of increased tariffs, we think that the uncertainty about the length of the inflationary push may slow down the pace of cuts in the first half of 2025. And then once GDP deceleration becomes more pronounced, the Fed might then cut faster in the second half of [20]25 to avoid that big, outsized deceleration and economic activity.Ariana Salvatore: And what about second order effects on things like business investment or employment? We talked about agriculture as a potential target for retaliatory tariffs, but what other US sectors and industries would be most affected by these type of plans? Arunima Sinha: That's something that we have leaned in on, and we do expect some important second round effects. So, if you have lower economic activity, that would lower employment, that lowers income, that lowers consumption further -- so that standard multiplier effect. So overall, in that scenario, with the 60 per cent tariffs on China, 10 per cent on the rest of the world that are imposed fully and swiftly, we model that real consumption would decline by 3 per cent, business investment would fall by 3.1 per cent, and monthly job gains would fall by between 50- and 70, 000. At the sectoral level, this combination of tariffs have potential to increase average tariffs to the 25 to 35 per cent range for almost 50 per cent of the NAICS industries in the United States when first put into place. And we expect the biggest impacts on computers and electronics, apparel, and the furniture sectors; but this does not take into account any potential exclusion lists that might be put into place. Ariana Salvatore: Finally, what does all this boil down to in terms of a direct impact to the US consumer wallet? Arunima Sinha: So, the impact of higher tariffs on consumer spending would depend on many factors, and one of the most important ones is the price elasticity of demand. So how willing would consumers be to take on those higher prices from tariffs, or do we see a pullback in real demand? What we think will happen is that higher prices could reduce real consumption by as much as 2. 5 per cent. The impact on goods consumption is much more meaningful because imported goods are directly affected by tariffs, and we would expect to see a drag on real goods consumption of 5 per cent. But then you have lower labor income and higher production costs and services prices that is also going to bring down services consumption by 1.3 per cent.Ariana Salvatore: So, it's important to keep in mind here that US tariff policy would undoubtedly have far reaching consequences. That means it's something that we're going to continue to follow very closely. Arunima, thanks so much for taking the time to talk.Arunima Sinha: Great speaking with you, Ariana. Thank you, Ariana Salvatore: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.
In this special episode of the DOD Contract Academy podcast, we provide a comprehensive Q&A session originally aired live on YouTube. The episode addresses key questions and strategies for navigating government contracts, particularly for those new to the field or considering a consulting career in the government space. Topics include using USAspending.gov for market research, understanding the importance of NAICS codes, finding out if the government buys what you sell, and initial steps for small businesses looking to enter government contracting. A dditional advice is given on finding niches, understanding competition, and the timeline for securing government contracts. 00:00 Introduction and Overview 00:45 Starting with Government Contracting 01:30 Understanding Government Spending 02:12 Using USA Spending and NAICS Codes 04:10 Registering Your Business 04:49 Exploring Government Contracting Careers 05:46 Finding Your Niche SUBSCRIBE TO OUR YOUTUBE Chanel! https://www.youtube.com/@dodcontractacademy/?sub_confirmation=1 GET CERTIFIED: Earn up to $400K a year as a freelance GOVERNMENT CONTRACT CONSULTANT: https://www.govclose.com/sales-certification SCHEDULE A BUSINESS GROWTH COACHING SESSION WITH Lt Col (Ret) Howard https://www.dodcontract.com/offers/icoUFuC2/checkout Order Today "The Government Contract Planner" https://a.co/d/7HCQFHy WATCH NEXT: The GovClose Certification https://youtu.be/S2UwMq6933Y How To Write Proposals: https://youtu.be/5GoJFzFrsSk 2024 Sam.gov Registration https://youtu.be/ahOJCDV4Q-E?si=e_fZxBuIrwkQaOtQ Follow me on Linkedin: https://www.linkedin.com/in/rickychoward/
Visibility is key in government contracting. On this episode of FedBiz'5, new host Bobby Testa dives into this critical topic with senior government contracting specialist Frank Krebs. Their insightful discussion, geared towards enhancing your company's visibility to government buyers, is packed with valuable strategies and tips.Understanding the Role of Contracting OfficersContracting officers play a pivotal role in the procurement process, tasked with finding companies that can fulfill government needs. This involves extensive market research to identify potential vendors that can meet specific requirements, often looking within socioeconomic categories such as veteran-owned or women-owned businesses. Understanding what contracting officers seek and how they conduct their research is the first step in making your company more visible.The Art of Making Your Company VisibleFrank Krebs explains that visibility isn't achieved through a one-time effort but through a continuous, strategic process. Here are key areas he highlights:1. Registration and Presence on SAM.govEnsure your company is not only listed on SAM.gov but stands out. Your profile should be comprehensive, including detailed information in the Dynamic Small Business Search (DSBS) and ensuring all relevant NAICS codes and keywords are included.2. Capability StatementThis document is your government resume. Make it professional and impactful—this is often your first impression.3. Active MarketingReach out to contracting officers directly, attend conferences, network, and respond to Sources Sought announcements. It's about putting your business where opportunities are.4. Online and Social Media PresenceGovernment buyers use all resources at their disposal, including Google and social media like LinkedIn, to research potential vendors. Ensure your online presence is robust and reflects your business positively.Why Continuous Effort is NecessaryVisibility in government contracting is not a static achievement but an ongoing process. Here's why continuous effort is crucial:Government Needs Constantly Evolve: What's required today may change tomorrow. Keeping your company's information up-to-date and relevant is vital.Competition is Fierce: New businesses enter the government marketplace regularly. Standing out requires keeping your company's profile and capabilities fresh and engaging.Contracting Officers Are Risk-Averse: They prefer companies with proven track records and clear, accessible information about their capabilities and past performance.Final Thoughts from Frank KrebsPerseverance and proactive marketing are key to breaking into and succeeding in government contracting. Continually update your business's information and work with partners who can elevate your visibility. This approach not only enhances your profile but significantly increases your chances of winning government contracts.How Can FedBiz Specialists Help?Remember, enhancing your company's visibility in the government marketplace is crucial, but it doesn't have to be overwhelming. FedBiz Specialists are just a simple phone call away, ready to assist with every step of the process. Whether it's refining your SAM profile, crafting an impressive capability statement, or strategizing your market approach, help is available.Stay Connected: Signup for our Once-Monthly "Contractor Chronicle" Newsletter Follow Us on Facebook Follow Us on LinkedIn
Welcome to the Building the Premier Accounting Firm podcast with host Roger Knecht. This week, Roger sits down with Blagoja Hamamdjiev, CEO of Modeliks, to delve into the critical aspects of business funding and financial planning. The conversation centers around simplifying financial processes, the importance of teaching money management to children, and the challenges and strategies involved in accurate financial forecasting. Key Themes from this Episode: Financial Forecasting: Blagoja highlights common challenges of financial forecasting. He shares strategies for creating accurate financial models based on operational drivers. The hosts discuss how to build revenue projections for diverse business types, including restaurants and online stores. Key Performance Indicators (KPIs) and Benchmarking: Roger highlights the importance of KPIs and benchmarking against industry norms. The hosts explain why utilizing NAICS codes and financial ratios for realistic financial forecasts brings benefits to your firm. Industry-Specific Models: Blagoja shares advantages of ready-made models like those used by Modeliks. Roger shares how these models may save time and effort for accountants and clients. Blagoja emphasizes the importance of facilitating quick customization and strategic planning over a five-year horizon. Attracting Investors: The hosts explore how to link operational KPIs with financial outcomes. STAR Program: Focus on accountability through KPIs tied to forecasts. Value of financial planning services, including fractional CFO services and management reporting. Budgets and Cash Flow: Understanding the importance of budgets and cash flow. Transitioning to advisory services. Additional Services: Enhancing client relationships by comparing actual results to forecasts. Identifying key financial metrics for business success. We thank you for joining us once again for another exciting episode of Building the Premier Accounting Firm. Please subscribe to the show on the podcast platform of your choice, and learn more about how you can start your accounting business at 435-344-2060. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Offers: Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant's library to provide quality CFO & Advisory services as a Profit & Growth Expert today: “Red to BLACK in 30 days – A small business accountant's guide to QUICK turnarounds” – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses. “in the BLACK, nine principles to make your business profitable” – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles. “Your Strategic Accountant” - Understand the 3 Core Accounting Services you should offer as you run your business. help your clients understand which numbers they need to know to make more informed business decisions. “Your Profit & Growth Expert” - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve. Learn what it is you can do to become an author, leveraging your expertise to market your services effectively and get the clients you deserve. This is a webinar you don't want to miss. Learn from Mike Capuzzi what a Shook is and how you can use it to position yourself as the Premier Accounting Firm in your area. This is a must-see presentation so get ready to take some great notes. In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we've identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It's here you can become a: Professional Bookkeeper, PB Professional Tax Preparer, PTP Profit & Growth Expert, PGE Next, join a group of like-minded professionals within the accounting community. Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business. The Accounting & Bookkeeping Tips Facebook Group The Universal Accounting Fanpage Topical Newsletters: Universal Accounting Success The Universal Newsletter Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company's Value. For Additional FREE Resources for accounting professionals check out this collection HERE! Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don't want to miss. Remember this, Accounting Success IS Universal. Listen to our next episode and be sure to subscribe. Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777
Today's episode is all about navigating the complex landscape of tax rules for digital sales. As more and more businesses shift towards offering digital products, understanding the intricacies of sales tax becomes crucial. From the outdated NAICS codes to the pivotal Wayfair decision, we'll delve into how different states treat digital products for tax purposes and what you need to know to stay compliant. Whether you're new to selling online or looking to refine your tax strategy, this episode is packed with essential information and practical tips. So, let's dive in and make sure you're informed and prepared when it comes to managing sales tax for your digital offerings. What you'll hear in this episode: 05:09 Different tax rules for physical versus digital products. 07:00 Consider sales tax implications for digital sales. 11:39 Selling digital products across state lines: tax considerations. If you like this episode, check out: Why Should You Separate Your Business Money from Personal Finances? What a Balance Sheet Actually Tells You What to Track in Your Books Want to learn more so you can earn more? Download the Money Pro Matchmaker tool here Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
Are you interested in getting a business loan? Just give me less than an hour of your time, and I'll show you three vital steps you MUST take to be successful in getting a business loan. Check Out Thinking of Getting a Business Loan? Here Are 3 Steps You Must Take to Be Successful here: Watch and Enjoy! Ty Crandall Key Moments in This Episode ========================
How to use your contacts for growing your business and how can drones augment your business Today's episode is brought to you by Drone U Experience training, a unique training event that is focused on construction projects, available to the last 1-2 participants, where you will be immersed in an experienced-based learning environment. You'll take flight daily and often, and you'll master cutting-edge drone techniques along the way. Learn from experienced pilots to get the most out of your drone. Also, build repeatable systems to scale your business. Reach out to us to book your seat today. On Today's podcast, we discuss how drones can effectively grow your current offerings to clients. Our question from today is from Cameron, who is wanting to know how he can use his previous job knowledge and working his way on developing a successful drone business. We discuss how knowing your circle can effectively assist in reaching out and developing the next steps to getting contracts and how knowing a business gives an edge in understanding the value that can be delivered to your clients. We go over adding value to your clients and how a drone business owners can work with multiple contacts to explore opportunities. Tune in today !! Get your questions answered: https://thedroneu.com/. If you enjoy the show, the #1 thing you can do to help us out is to subscribe to it on iTunes. Can we ask you to do that for us real quick? While you're there, leave us a 5-star review, if you're inclined to do so. Thanks! https://itunes.apple.com/us/podcast/ask-drone-u/id967352832. Become a Drone U Member. Access to over 30 courses, great resources, and our incredible community. Follow Us Site – https://thedroneu.com/ Facebook – https://www.facebook.com/droneu Instagram – https://instagram.com/thedroneu/ Twitter – https://twitter.com/thedroneu YouTube – https://www.youtube.com/c/droneu Timestamps: [02:32] Learn more about Drone U Experience training in Colorado [05:13] Today's question on taxes and NAICS codes to use while filing taxes [08:29] How can you use your current business contacts to grow a drone business
Join us for groundbreaking news in the world of SBA financing! This episode unveils recent updates that could change the game for borrowers looking to secure funding beyond the $5 million aggregate cap. If you'd like to meet with Beau to talk financing, book a call here ( http://bookwithbeau.com/ )
How do I navigate the tax filing season as a drone pilot? Today's episode is brought to you by Drone U Experience training, a unique training event that is focused on construction projects, available to the last 1-2 participants, where you will be immersed in an experienced-based learning environment. You'll take flight daily and often, and you'll master cutting-edge drone techniques along the way. Learn from experienced pilots to get the most out of your drone. Also, build repeatable systems to scale your business. Reach out to us to book your seat today. On Today's podcast, we discuss navigating the tax filing season for drone pilots, and respond to Joe who would like to know more on codes to be used for tax filing. We discuss how drone pilots should navigate the tax filing space and what are the classifications available? We discuss about NAICS codes and navigating tax season for drone pilots and considerations to keep in mind when filing taxes. Tune in today !! Get your questions answered: https://thedroneu.com/. If you enjoy the show, the #1 thing you can do to help us out is to subscribe to it on iTunes. Can we ask you to do that for us real quick? While you're there, leave us a 5-star review, if you're inclined to do so. Thanks! https://itunes.apple.com/us/podcast/ask-drone-u/id967352832. Become a Drone U Member. Access to over 30 courses, great resources, and our incredible community. Follow Us Site – https://thedroneu.com/ Facebook – https://www.facebook.com/droneu Instagram – https://instagram.com/thedroneu/ Twitter – https://twitter.com/thedroneu YouTube – https://www.youtube.com/c/droneu Timestamps: [04:25] Learn more about Drone U Experience training in Colorado [07:06] Today's question on taxes and NAICS codes to use while filing taxes [08:18] What is the NAICS code and why is it important while filing your taxes? [12:09] How to obtain and navigate NAICS codes specific to your business and industry? [14:01] Understanding GSA schedule for your business [15:48] Knowing your tax consultant while doing your taxes and understanding tax implications of your business decisions
Are you looking to get the right NAICS code for your business? Just give me less than an hour of your time, and I'll show you how to choose the best NAICS code and make it easier for lenders and credit providers to say ‘yes' when you want business funding and credit. If you would like to get a personal recommendation for the best business loan based on your strength, check out the Funding Blueprint Qualifier and let our team connect you with the best lender based on your strengths.
Ken Dodds, vice president of Acquisition Policy at the Coalition for Government Procurement joins host Roger Waldron on this week's Off the Shelf for an in-depth discussion on the latest policy, contracting, and program developments impacting small businesses in the federal procurement market. The discussion topics include the impact of the Ultima decision on small, disadvantaged businesses, the Forward Slope size appeal and the impact on Seaport NG, mentor-protégé joint venture experience litigation including the latest POLARIS decision, and NAICS code on orders under multiple award contracts.Dodds also address the ongoing focus on the NAICS for the NASA SEWP follow-on procurement and the potential waiver of the non-manufacturer rule. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Ken Dodds, vice president of Acquisition Policy at the Coalition for Government Procurement joins host Roger Waldron on this week's Off the Shelf for an in-depth discussion on the latest policy, contracting, and program developments impacting small businesses in the federal procurement market. The discussion topics include the impact of the Ultima decision on small, disadvantaged businesses, the Forward Slope size appeal and the impact on Seaport NG, mentor-protégé joint venture experience litigation including the latest POLARIS decision, and NAICS code on orders under multiple award contracts. Dodds also address the ongoing focus on the NAICS for the NASA SEWP follow-on procurement and the potential waiver of the non-manufacturer rule.
In this episode, Host David Ponraj digs into the immense potential in public sector work with Carroll Bernard, CEO & Co-Founder at Govology.com, and former government worker at the U.S. Small Business Administration. Carroll and his team at Govology specialize in opening up opportunities in the $500 billion government contracting market to small businesses, as there is an immense gap in awareness about government programs."The government procurement process can seem daunting, but the reward is well worth the effort - very sustainable revenue streams that allow companies to grow. Do good work [for the government] and there's always more business available, unlike the budget constraints in the private sector."Carroll shares deep insights and processes to help small businesses navigate the government sales process and land those lucrative federal, state and local contracts; from researching spending data to crafting winning proposals.David and Carroll explore the advantages of the 8A program for small disadvantaged businesses, including sole source contracts and set-aside contracts, as well as the potential for teaming opportunities with larger businesses. The discussion covers the essential steps for businesses to register on sam.gov and qualify for government programs, including the importance of market research before registering on SAM and identifying relevant NAICS codes and product service codes. They delve into the intricate details of small business certifications and government contracting, highlighting the specific eligibility criteria and federal programs available, including individual-based certifications for service-disabled veterans, small disadvantaged businesses, and women-owned businesses, as well as location-based certifications like HUBZone.Learn more about public procurement at Govology.comConnect with Carroll Bernard on LinkedIn: https://www.linkedin.com/in/carrollbernard/Resource: USAspending is the official open data source of federal spending information,including information about federal awards such as contracts, grants, and loans. https://www.usaspending.gov/
Episode 44: In this episode, Timalyn discusses issues related to tax audits. The fear people have about being audited is often paralyzing. It's a serious issue and you need to be prepared to both avoid it and to know what you need to do if it happens. There are steps you can take to ensure your business is audit-ready. There's No Such Thing as an Audit-Proof Return Regardless of what some tax professionals might claim, there's no way to guarantee you won't be audited. There are different types of audits and the selection “triggers” vary. The IRS has the Discrimination Function System that produces a DIF score. This system rates the potential for change based on past IRS' experiences with similar returns. The IRS can track returns for similar businesses, using categories such as NAICS codes. This code describes your type of industry. When they look at a collection of similar returns from the same industry, they can determine averages for specific data points, such as expenses, credits, etc. for your reported income level. If your DIF score is out of that range, it could trigger an audit. Irregularities can also raise flags. For instance, if all of your figures on your tax return are round numbers, that would seem odd and could result in an audit. The IRS has a whistleblower program. They pay snitches who were correct about something they alerted the IRS to regarding someone else's tax filings. It Doesn't Mean You Did Anything Wrong Timalyn emphasizes that just because you're being audited, it doesn't mean you did anything wrong. She explains that for 2023, there was a 0.4% chance that taxpayers would face an audit. Lower income individuals actually had a slightly higher chance. Don't Fear the Boogey Man An audit isn't as scary as it sounds. It's a review or exam of your tax account and your financial information to ensure proper reporting. If you keep good records and don't inflate/deflate your income or expenses, is there really anything to fear? You have the information and it's accurate. As long as you can prove that information was reported correctly to the IRS, you should be fine. If your records are extremely unorganized, you had to guess at certain dollar amounts or someone else guessed for you, the audit may become a problem for you. Correspondence Audits This is where the IRS will contact a taxpayer to request specific information. If you've received an audit notice, or a field audit where the IRS agent comes to you, Timalyn recommends you don't handle this on your own. It doesn't matter how good your records are. Yes, you may be able figure out how to handle the process, but you're going to be at a disadvantage and the opportunity to make a mistake is significant. This is not something you should simply search for on YouTube. You need an experienced tax professional who knows how to deal with the IRS and the rights you have, during the audit process. If you've received an audit notice, you can book a tax relief consultation with Timalyn. She also has an episode on what you need to look for when hiring a tax professional. Episode 23 is titled, “Which Type of Tax Professional Do I Need?” In the show notes for that episode, there's a link to Episode 16, “How to Choose a Tax Professional.” Both are full of valuable information for your consideration. When you receive a Correspondence Audit, the IRS may not explain specifically why they are requesting the information. It can be a significant source of anxiety. Make sure you respond to the IRS in a timely manner. Timalyn suggests responding before the deadline, in case something else needs to be addressed. If you have good records, this will be much easier. Do You Already Have a Tax Power of Attorney? If you already have a tax power of attorney, you've already authorized this person to speak to the IRS on your behalf. They've filed submitted IRS Form 2848, so they will also receive the correspondence from the IRS. Don't assume the person who prepared your tax return is receiving the same correspondence you have received from the IRS. Unless they've submitted Form 2848, the IRS does not have the authorization to speak with that tax preparer and vice versa. Prepare Your Business for an Audit This is the best thing you can do, especially because of the random nature of IRS audits. Timalyn re-emphasizes the importance of good record keeping. You have to be able to substantiate everything you entered on your tax return. This applies to both income, expenses and credits. There are many ways people have committed fraud by overstating their income when applying for the PPP loans, SBA loans, or a mortgage. These are reasons the IRS may require you to substantiate your income. Good financial statements, based on accurate bookkeeping can help you to prove you received the income you claim, even if you don't have a 1099 to back it up. Your bookkeeper or accountant will reconcile your bank account. The financial reports should reflect your income. Make sure the person who prepares your financial statements has access to your bank statements. If they are doing it without access, you may be setting yourself up for a significant issue or issues. The same record keeping applies for your expenses. It's why business owners should not co-mingle their business and personal funds. During an audit, explaining the different purchases will be more complicated if you can't determine whether they were for business or personal reasons. You Need a Bookkeeper This person is a valuable resource. It's something Timalyn often recommends you outsource. A business owner can waste a lot of time trying to do their own bookkeeping. You should definitely understand your financial records, but the time spent doing all of the record keeping and reporting could be better spent generating more revenue. The 3-H's of Record Keeping Timalyn suggests there are questions to consider related to record keeping. ● How long should you keep your records? ● How should your store your records? ● How do you deliver your records? Episode 20 specifically deals with how long you need to retain your tax records. Don't Create More Problems for Yourself If you're being audited, remember to only provide the IRS what they are asking for. Make sure the support for those records is readily available. Timalyn uses the example of someone who was asked to show income for a number of years. However, because they didn't have good records, they instead decided to turn over all bank statements to the auditor. This resulted in the auditor finding even more questionable transactions that were flagged. If you're going through an audit, you typically wouldn't know how to handle the IRS. Even good intentions can lead to many more problems. That's why you should work with a tax representation professional who is familiar with the process and can best represent you. Check out Episode 33, “What Is Tax Representation?” Just because someone prepared your taxes doesn't mean they're equipped to represent you. As 2023 comes to a close and tax season looms, you need to ask yourself if your business is audit-ready? Do you have good financial records? How are we handling the 3-H's of record keeping? Is our tax preparation professional asking questions about our records? It's time to get ready. One step you can take is to book a tax relief consultation with Timalyn. If you are a tax professional who would like to help taxpayers with their audits, Timalyn strongly suggests joining her Tax Pro Representation Journey community. Please consider sharing this episode with your friends and family. There are many people dealing with tax issues, and you may not know about it. This information might be helpful to someone who really needs it. After all, back taxes shouldn't ruin their life either. As we conclude Episode 44, we encourage you to connect with Timalyn on social media. You'll be able to subscribe to this podcast on Spotify, Apple Podcasts, Google Podcasts, and many other podcast platforms. Remember, Timalyn Bowens is America's Favorite EA and she's here to fill the tax literacy gap, one taxpayer at a time. Thanks for listening to today's episode. For more information about tax relief options, visit https://www.Bowenstaxsolutions.com/ . If you have any feedback, or suggestions for an upcoming episode topic, please submit them here: https://www.americasfavoriteea.com/contact. Disclaimer: This podcast is for informational and educational purposes only. It provides a framework and possible solutions for solving your tax problems, but it is not legally binding. Please consult your tax professional regarding your specific tax situation.
This week on the podcast, Ed had the opportunity to visit with "SBA Ray" otherwise known as Ray Drew of Fundex Solutions! In this podcast episode, we delve into the recent changes implemented by the U.S. Small Business Administration (SBA) in its lending programs. These changes include two Procedural Notices and new Standard Operating Procedures (SOP) that have a significant impact on the 7(a) and 504 lending programs, with a particular focus on financing change of ownership opportunities. Here are the key highlights of the SBA's new SOP and additional guidance: Equity Injection Changes: Equity injection refers to new cash or assets added to a project not on the borrower's balance sheet before. For acquisitions resulting in a complete change of ownership, a minimum equity injection of 10% of the total project costs is now required. Seller debt on standby or interest-only can be considered for equity injection. Employee Stock Ownership Plans (ESOPs): Lenders with delegated authority can now submit ESOP transactions. Loans to ESOPs for purchasing a controlling interest (at least 51%) do not require equity injection. Partial Changes of Ownership: SBA loans can now fund the purchase of a portion of an owner's interest. Selling owners can remain involved in the business after the partial change of ownership. Rolled equity from the target company into the new company remains ineligible. Additional Guaranteed Dollars: Individuals can receive an extra $3.75 million in guaranteed dollars, equivalent to a $5 million 7(a) loan, for acquiring a business not in the same 3-digit NAICS subsector as any currently owned business with existing SBA debt. Buyer Rebates: Buyer rebates, tied to business performance, are allowed, providing flexibility in deal structures. Helps mitigate risks like concentration, employee retention, and more. Elimination of Personal Resource Test: SBA lenders no longer need to evaluate the personal resources of loan applicants. Stronger, more liquid borrowers can now pursue SBA financing, offering greater flexibility for multiple transactions. Reduced Documentation Requirements: The SBA has reduced the amount of documentation lenders must collect to verify equity. These changes bring significant opportunities and flexibility to small businesses seeking SBA financing, making it essential for entrepreneurs and lenders to stay informed about the latest updates. Tune in to learn more about how these changes could impact your business and financing options. Listen Here Connect with Ray: Email: rdrew@fundexsolutions.com Website: https://fundexsolutions.com/ Twitter: https://twitter.com/SBA_Ray?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor Youtube: https://m.youtube.com/channel/UC7_6-lZHN4cXa0sF6Tu8AGQ LinkedIn: https://www.linkedin.com/in/raydrew4589 ************ About the Show The Defenders of Business Value Podcast combines nearly 31 years of valuation and exit planning expertise working with business owners. Ed Mysogland has a mission and vision to help business owners understand the value of their business and make it a salable asset. Most of the small business owner's net worth is locked in the company, and to unlock it, a business owner has to sell it. Unfortunately, the odds are against business owners that they won't be able to sell their companies because they don't know what creates a saleable asset. Ed interviews experts who help business owners prepare, build, preserve, and one-day transfer value with the sale of the business. ************ For past guests, please visit https://www.defendersofbusinessvalue.com/ Follow Ed: Connect on LinkedIn: https://www.linkedin.com/company/defenders-of-business-value Twitter: https://twitter.com/sellabizpod Instagram: https://www.instagram.com/defendersofbusinessvalue/ Facebook: https://www.facebook.com/bvdefenders
Episode 189 contains the Digital Marketing News and Updates from the week of Nov 27-Dec 1, 2023.1. Google Ads Controversy: Ad Placements on Questionable Websites - A recent study by Adalytics has sparked a debate over the ethical and transparency issues surrounding Google's Search Partner Network (GSP). The report found that Google search ads appeared on websites that violate Google's publisher policies, raising significant concerns for advertisers about where their ads are being displayed.Key Points from the Study: Violation of Publisher Policies: The study discovered Google search ads on websites that don't adhere to Google's publisher policies. These policies prohibit ads from being served alongside illegal content, hate speech, misinformation, and more. Yet, ads were found on far-leaning political websites and other questionable domains. Google Search Partner Network: The GSP is a collection of search-related websites and apps where Google ads can appear. The network, established in 2003, aims to expand Google's ad reach beyond its search engine. However, the lack of transparency about the websites included in this network is a major concern. Compromising Ad Placements: Advertisers reported finding their ads on websites they had previously blocked. This raises questions about the effectiveness of Google Ads' excluded placements setting and the overall control advertisers have over their ad placements. Ethical and Transparency Issues: The report highlights the need for greater transparency and trust in Google's ad network. The lack of clarity about the GSP's members and the discovery of ads on sanctioned websites in countries like Iran and Russia pose ethical dilemmas for advertisers. What Can Advertisers Do? Opt-Out of GSP: Advertisers can manually opt out of the GSP for each search campaign to avoid their ads appearing on these networks. Review Content Suitability Settings: Adjusting these settings, especially on YouTube or display campaigns, can help control where ads are shown. Check Display Campaign Placements: Reviewing where ads are shown in display campaigns can provide insights into potentially questionable or poor-performing websites. Use Advanced Settings for Additional Exclusions: Advertisers can exclude sensitive content types, themes, keywords, websites, apps, YouTube channels, or videos to gain more control over ad placements. This report underscores the importance for business owners of being vigilant about where their ads are displayed. It's crucial to regularly review and adjust ad settings to ensure that your brand's values align with the platforms where your ads are shown. As digital marketing continues to evolve, ethical considerations and transparency in ad placements remain key concerns for advertisers.2. Google Updates Policy for for Consumer Finance Ads - Google has updated its personalized ads policy in February 2024, and introduced new limitations on personalized advertising related to consumer financial products and services. This policy change is particularly important for businesses in the consumer finance sector, including those offering credit cards, loans, banking services, and debt management products.Understanding the Policy Update: Scope of the Update: The updated policy will prohibit targeting audiences based on sensitive interest categories like gender, age, parental status, marital status, or ZIP code in the United States and Canada for consumer finance in personalized ads. Effective Date: The policy enforcement will begin on February 28, 2024, and is expected to ramp up to full enforcement over approximately six weeks. Warning Before Suspension: Violations of this policy will not lead to immediate account suspension without prior warning. A warning will be issued at least seven days before any suspension of an account. Implications for Business Owners: Review Advertising Strategies: Businesses in the consumer finance sector need to review their advertising strategies on Google to ensure compliance with the new policy. This includes revising targeting methods and ad content. Prepare for Changes: With the policy taking effect in February 2024, businesses have time to adjust their campaigns and avoid potential disruptions. Understand the Impact: The policy change underscores the importance of ethical advertising practices, especially in sensitive sectors like consumer finance. It's crucial for businesses to understand how these changes affect their digital marketing efforts. 3. Google's November 2023 Core Update Rollout Complete - Google has finalized its November 2023 Core Update, marking the fourth major algorithm update of the year. This update, which began on November 2, 2023, concluded on November 28, 2023, after 26 days. It followed closely on the heels of the October 2023 Core Update, which itself had significant impacts on search rankings.The November Core Update was notable for the breadth of its impact, affecting a wide range of sites and causing considerable ranking volatility. Many SEOs reported substantial changes in site rankings from the outset of the update.Adding to the complexity, the November 2023 Reviews Update, which began on November 8, overlapped with the Core Update. This meant that websites experienced the effects of two significant updates simultaneously, although the impacts of each were distinct.Understanding Google's algorithm updates is crucial for businesses, as these updates can impact how your site performs in search results. Any change in rankings from a core update, positive or negative, can impact your organic traffic, conversions, and revenue. Knowing when Google makes these updates enables site owners to know if traffic fluctuations resulted from a change to the site or something Google changed with its ranking algorithm.4. Google Search Expands Organization Markup: Enhancing Business Visibility - Google has recently updated its organization markup in Google Search, now supporting additional fields such as name, address, contact information, and various business identifiers. This expansion is a significant development for business owners, as it allows for more comprehensive representation of their organizations in Google's search results.What's New in the Update: Expanded Fields: The updated organization structured data now includes fields for name, alternate name, legal name, description, sameAs, address, phone numbers, email, number of employees, founding date, DUNS, NAICS, tax ID, and other ID numbers. This is in addition to the previously supported logo and URL structured data fields. Enhanced Visibility: These new fields can be used in Google Search knowledge panels and other visual elements, such as attribution. This means that when someone searches for your business, Google can display a rich snippet with detailed information about your organization, making it easier for potential customers to find and contact you. Updated Reporting: Google Search Console reports have been updated to support validation of these new fields. The rich results testing tool has also been updated, allowing you to test your organization's structured data and confirm its validity instantly. Google's expansion of the organization markup in search results is a valuable opportunity for business owners to improve their online visibility and provide users with more detailed information about their organizations. By effectively utilizing these new structured data fields, businesses can enhance their search presence, improve user experience, and potentially increase customer engagement.5. Google Adds Support for Discussion Forums and Profile Pages - Google has announced the introduction of structured data for profile pages and discussion forums, a significant update for Google Search. This new markup, along with corresponding reports in Search Console, is designed to improve the accuracy and completeness of search results, particularly for content from social media platforms, forums, and online communities.Key Features of the Update: Profile Page Markup: This is intended for sites where creators (individuals or organizations) share firsthand perspectives. It helps Google Search better identify information about the creator, such as their name, social handle, profile photo, follower count, and the popularity of their content. This markup is utilized in Google Search features like 'Perspectives' and 'Discussions and Forums.' Discussion Forum Posting Markup: Aimed at forum-style sites where people share firsthand perspectives, this markup helps Google Search better identify forum sites and online discussions. Forums with this markup are considered for content appearance in 'Perspectives' and 'Discussions and Forums' features. QA Markup vs. Forum Markup: For sites already using QA markup for question-and-answer themed user forums, Google has updated the QA structured data documentation to align with the new discussion forum guidelines. Sites should use the markup that best suits their content structure. Search Console Reports: To monitor discussion threads and profile page markup issues, Google is launching rich result reports in Search Console. These reports will show errors, warnings, and valid items related to marked-up pages. Additionally, the rich results test tool supports both features to help test and validate markup. For business owners, especially those with a strong online community presence or who engage in forum-style content, this update is crucial. Implementing the new structured data will enhance your content's visibility and accuracy in Google Search, potentially driving more traffic to your site. It's an opportunity to ensure that Google accurately represents your brand and content in search results.6. TikTok Creative Cards : Will It Boost Content Engagement? - TikTok has launched a new feature called Creative Cards, designed to help small businesses and content creators enhance engagement, relevance, and relatability in their posts. This so-called innovative tool offers data-backed prompts, providing tips on crafting content that resonates more effectively with the TikTok audience.Key Features of TikTok Creative Cards: Diverse Categories: The cards are divided into five categories: Community, Edutainment, Creator Tools, Trends, and Storytelling. Each category offers unique insights tailored to different aspects of content creation. Community Insights: These insights assist creators in engaging their audience actively, building customer loyalty through integrating customer testimonials and content based on user comments. Edutainment Tips: This category includes creative ways to showcase products, share lessons, and introduce offers, blending education with entertainment. Creator Tools: From storytelling techniques to incorporating music and captions, these cards explore various ways to boost views and enhance likability. Trends and Storytelling: The cards help creators brainstorm ideas for participating in trending memes and hashtags and offer different approaches to telling their business's journey and challenges. Why It Matters for Business Owners: Valuable for New and Experienced Creators: Creative Cards are particularly valuable for brands new to TikTok or those seeking inspiration, especially during the crucial holiday season. Enhanced Content Strategy: With more than 100 digital cards for ideas, businesses can refine their content strategy to better engage with the TikTok audience. Access and Usage: To use this feature, content creators need to register for access. Once granted, they can scroll through the digital cards for ideas, breaking down their content creation needs by category. 7. Meta Releases Q5 Strategy Guide For Post-Holiday Marketing - Meta's recently released a Q5 marketing guide that offers a strategic approach to maximizing post-holiday marketing budgets. This period, known as Q5, spans from late December to mid-January and is often overlooked by marketers. However, according to Meta's guide, this period presents a unique opportunity for businesses to capitalize on continued consumer shopping behavior.Key Insights from Meta's Q5 Marketing Guide:Extended Shopping Season: A YouGov survey commissioned by Meta found that 41% of holiday shoppers continue their shopping past the holidays into January. This indicates a sustained consumer interest in purchasing even after the main holiday season.Lower Media Costs: Global data from January 2023 shows that CPM (Cost Per Mille) rates were on average 15% lower than their levels on October 1st. This suggests that advertising during Q5 can be more cost-effective compared to the peak holiday season.Five Best Practices for Q5 Marketing: The guide outlines crucial strategies for marketers: Minimize campaign changes to maintain stability. Leverage automation and AI for improved ad performance. Diversify creatives to appeal to a broader audience. Use data to grow the lifetime value of customers. Always validate results through consistent measurement.
As a real estate investor, you should understand the NAICS code that relates to your industry. This article discusses the finer details of this code system and its impact on your business. What Is a NAICS Code? The North American Industry Classification System (NAICS) is developed by the United States, Canada, and Mexico to classify businesses into industry-specific categories for economic data collection, analysis, and reporting. In some states, providing your NAICS code is optional, but in other states, providing your code will be required. Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to the DoD Contract Academy! In this episode, we reveal insider tips on selling to the government that no one talks about. If you're looking to boost your revenue by tapping into the lucrative world of government contracts, you're in the right place. In our previous episode, we discussed the foundation of building your government contract pipeline. Now, we're diving deep into the strategies for uncovering the most promising opportunities to populate your CRM or pipeline. Here's what you'll learn in this podcast:
In this podcast episode, Dean and Len discuss the Section 1071 Rule, which is the hottest regulatory topic in the financial industry. Len provides an overview of the rule and its implications for lenders. Covered lenders, which include any financial institution that originates 100 or more covered loans for two consecutive years, will need to maintain a data collection system to report on their commercial lending activity. Len also emphasizes the importance of distinguishing between covered and non-covered transactions and being careful about protected demographic information, such as the race, ethnicity, and sex of the principals of the business. The podcast also touches on other important requirements under Section 1071, such as capturing the NAICs code for borrowers and the number of employees and reporting on all applications, not just originated, refinanced, or renewed loans. The episode concludes by encouraging listeners to tune into a more comprehensive 90-minute broadcast on Section 1071. Brought to you by GeoDataVision and M&M Consulting
The Arizona Sports and Tourism Authority estimated the impact of hosting the Super Bowl in 2015 to be $719.4 million. By all accounts, the upcoming 2023 event should be even larger. The entire sector of sports and tourism in Arizona, however, adds billions of dollars and thousands of jobs annually and independent of major events like the Super Bowl. This brief will give an overview of the impact the whole sports and tourism sector has on Arizona's economy throughout the year and its prospects for future growth. $24.2 billion: Contribution of the sports and tourism sector to Arizona's Real Gross Domestic Product in 2022 (6.4% of the state's economy). $13.7 billion: Direct sales by Arizona's hotels, casinos, performance venues, and other components of the state's sports & tourism sector in 2022. 347,500: Number of people directly and indirectly employed by Arizona's sports and tourism sector, or 11% of the state's total workforce. 3.0%: Projected average annual growth rate of the sector over the next decade. Sports and tourism, as a sector composed of various shares of NAICS classification industries, is no small share of the Arizona economy, and recognizing the impact of these industries can help encourage the adoption of public policy that enables the continued growth and development of this area. You can read our report on the total economic impact here. On this episode of Common Sense Digest, Host and Chairman Earl Wright welcomes Kim Sabow, President & CEO of Arizona Lodging & Tourism Association, and Glenn Farley CSI Arizona's Director of Policy and Research to discuss CSI's recent report, how big a share of the state economy is comprised of sports and tourism, and their wish list for policymakers to embolden and grow the industry. Thank you for listening to Common Sense Digest. Please rate, review, and subscribe on your favorite podcatcher. All of our podcasts can be found here.
In this final episode, I interview Tom Stallone, the the managing partner of TapSEC Consulting on how an organization begins the process of doing business with the Federal government. Our focus is the NAICS. TapSEC facilitates the delivery of products and services for multiple technologies such as land mobile radio, security, telephony, network management, and audio-visual to both government and commercial clients. He has delivered more than $4.5 Billion in sales and $416 Million in revenue to multiple clients. If you learned something from this episode, please like and/or comment. #contracts #RFP #RFI #DUNS #tomstallone #tapsec #federalgovernment #businessfacilitation
In this episode, I share one extremely helpful tool for conducting market research, the Federal Procurement Data System (FPDS), which is a database of government contracts. By searching for contracts related to your industry or product, you can gain valuable insights into which agencies are buying what, how much they are spending, and who the top vendors are. To use FPDS effectively, it's important to understand the various codes and classifications used in the system. PSC codes, for example, are used to categorize products and services, and can help you identify potential markets within your industry. By sorting contracts by PSC code, you can get a sense of which products or services are in high demand and which areas may be oversaturated with competition. Another useful classification in FPDS is NAICS codes, which are used to classify businesses by industry. By searching for contracts related to your industry's NAICS code, you can see which agencies are most likely to be interested in your product or service and who your main competitors are. By understanding the data available in FPDS and using other research strategies, you can identify the most promising markets and position your business for success. Tune in to this episode to learn how.
Welcome to another edition of the InsuranceAUM.com podcast. My name is Stewart Foley, I'll be your host. And today we're talking about the pending changes the NAIC is proposing for the capital treatment of CLOs. We're joined by two experts today from MetLife Investment Management - Angela Best, director of CLO Research, and Francisco Paez, head of structured products research at MetLife Investment Management.
FedBiz Find Provides Access to Award History and Targeted Points of ContactDid you know the majority of federal contracts are repeat orders? In fact, approximately 90% of service contracts expire within 2-3 years but are renewable.Wouldn't you like to know more about these expiring contracts and who to contact? Who buys what you sell and how much they paid?FedBiz Find provides you with the award history and specific agency and office, with contact emails and phone numbers, of who you should be targeting.To find award information on your specific industry, enter your NAICS Code on the top of the dashboard. First select the 2-digit Industry Sector, then 4-digit Industry Group, and then 6-digit Industry Classification (NAICS Code).For example, in the NAICS code 541611 – Administrative Management and General Management Consulting Services there were 28,436 awards for $23.4 Billion over the prior twenty-four months.By scrolling over and selecting the state or states that you do business in, you can view the awards and spending based on the geography that you have selected.In the lower left corner of the dashboard, you can view the Top Prime Contractors or the Top Small Businesses that have won awards.This will give you a good preview of potential subcontracting partners, as well as what type of business your competition is winning.By clicking on the business name, you get complete contact information and details on the business, including their historical contracting track-record.To the right on this table, click on the ‘Awards #' to view details on the actual awards won by the business.You will find the actual contract number and can sort by award dollars, date the contract was signed, PSC code, PSC code description, and subagency.In addition, by clicking on the contract number you get the complete contract scope directly from fpds.gov with full contract details.Now let's find out who your buyers are!In the lower, center field, you can find the top awarding agencies and their specific points of contact.Click ‘View All Awards' to find the awards issued by the top agencies based on your selected criteria. You will find the actual contract number and can sort by award dollars, date the contract was signed, PSC code, PSC code description, and subagency.Again, by clicking on the contract number you get the complete contract scope directly from fpds.gov with full contract details.Click ‘Agency Contacts' to get the contact information of the specific buyers, including Name, Title, Email Address, Phone Number, number of awards and award dollars.Clicking on number of awards, you can get the specific Contract Number with complete contract scope directly from the Federal Procurement Data System with full contract details.In addition, there is a link to the agency website to learn more about the agency's programs, as well information on the right side of the dashboard to learn more about how awards were competed:Contracts reserved for Small BusinessesContracts awarded to out of state contractorsContracts that received a Single BidContracts not publicly postedYou also have access to our Government Contracting Resources page. This includes access to Agency Websites, Agency Forecasts and Small Business Offices, State and Local Opportunities, as well as other resources, guides and videos.Our goal is to provide you a clear path from registration to award. We help you get informed, get connected and get results.Learn More
Alan Ringvald is the CEO of Relativity6, a best in class insurtech company solving the very specific problem of business classification. In this episode of The Ryan Hanley Show, Alan explains that Relativity6 uses a proprietary process to create a new datapoint for determining the NAICS code for a given business. Industry misclassification is a HUGE problem in the insurance industry. Don't miss this episode… Episode Highlights: Alan explains that Relativity 6 focuses only on one kind of data point for determining the NAICS code for a business. (6:53) Alan shares the key differences that they have, which separate them from other InsurTech companies. (11:17) Alan shares his background story and how he ended up in this the InsurTech industry. (14:46) Alan shares something they are working on that will assess a building for the last 10 years called "address only". (19:37) Alan admits that their technology still has limitations, like not being able to find a holding company. (24:00) Alan explains the changes that have occurred in the tech industry over the past 5 years in terms of privacy and security. (29:00) Alan shares that there is no tech company, not even Relativity6, that can replace everything or fully solve any problem. (38:09) Alan explains that data information in insurance if used correctly, is a strategic advantage. (45:56) Ryan mentions that there is a substantial population of agents that unconsciously have no intention of growing. (49:10) Key Quotes: "The whole concept was, can we bring context to the table, and make it make more sense, which is why we call ourselves Relativity, which is obviously hard to say and spell." - Alan Ringvald "I will never say that, Relavity6, or any other type of company is fully solving any kind of problem, it's like a crazy, not real thing to say. I don't ever see that being the case." - Alan Ringvald "We're not here to replace the way humans think. We're just trying to automate the process that could take you forever to do and help you do that better and incrementally improve." - Alan Ringvald Resources Mentioned: Alan Ringvald LinkedIn Relativity6 Reach out to Ryan Hanley
Alan Ringvald is the CEO of Relativity6, a best in class insurtech company solving the very specific problem of business classification. In this episode of The Ryan Hanley Show, Alan explains that Relativity6 uses a proprietary process to create a new datapoint for determining the NAICS code for a given business. Industry misclassification is a HUGE problem in the insurance industry. Don't miss this episode… Episode Highlights: Alan explains that Relativity 6 focuses only on one kind of data point for determining the NAICS code for a business. (6:53) Alan shares the key differences that they have, which separate them from other InsurTech companies. (11:17) Alan shares his background story and how he ended up in this the InsurTech industry. (14:46) Alan shares something they are working on that will assess a building for the last 10 years called "address only". (19:37) Alan admits that their technology still has limitations, like not being able to find a holding company. (24:00) Alan explains the changes that have occurred in the tech industry over the past 5 years in terms of privacy and security. (29:00) Alan shares that there is no tech company, not even Relativity6, that can replace everything or fully solve any problem. (38:09) Alan explains that data information in insurance if used correctly, is a strategic advantage. (45:56) Ryan mentions that there is a substantial population of agents that unconsciously have no intention of growing. (49:10) Key Quotes: "The whole concept was, can we bring context to the table, and make it make more sense, which is why we call ourselves Relativity, which is obviously hard to say and spell." - Alan Ringvald "I will never say that, Relavity6, or any other type of company is fully solving any kind of problem, it's like a crazy, not real thing to say. I don't ever see that being the case." - Alan Ringvald "We're not here to replace the way humans think. We're just trying to automate the process that could take you forever to do and help you do that better and incrementally improve." - Alan Ringvald Resources Mentioned: Alan Ringvald LinkedIn Relativity6 Reach out to Ryan Hanley
Alan Ringvald is the CEO of Relativity6, a best in class insurtech company solving the very specific problem of business classification. In this episode of The Ryan Hanley Show, Alan explains that Relativity6 uses a proprietary process to create a new datapoint for determining the NAICS code for a given business. Industry misclassification is a HUGE problem in the insurance industry. Don't miss this episode…Episode Highlights: Alan explains that Relativity 6 focuses only on one kind of data point for determining the NAICS code for a business. (6:53) Alan shares the key differences that they have, which separate them from other InsurTech companies. (11:17) Alan shares his background story and how he ended up in this the InsurTech industry. (14:46) Alan shares something they are working on that will assess a building for the last 10 years called "address only". (19:37) Alan admits that their technology still has limitations, like not being able to find a holding company. (24:00) Alan explains the changes that have occurred in the tech industry over the past 5 years in terms of privacy and security. (29:00) Alan shares that there is no tech company, not even Relativity6, that can replace everything or fully solve any problem. (38:09) Alan explains that data information in insurance if used correctly, is a strategic advantage. (45:56) Ryan mentions that there is a substantial population of agents that unconsciously have no intention of growing. (49:10) Key Quotes: "The whole concept was, can we bring context to the table, and make it make more sense, which is why we call ourselves Relativity, which is obviously hard to say and spell." - Alan Ringvald "I will never say that, Relavity6, or any other type of company is fully solving any kind of problem, it's like a crazy, not real thing to say. I don't ever see that being the case." - Alan Ringvald "We're not here to replace the way humans think. We're just trying to automate the process that could take you forever to do and help you do that better and incrementally improve." - Alan Ringvald Resources Mentioned: Alan Ringvald LinkedIn Relativity6 Reach out to Ryan Hanley Learn more about your ad choices. Visit megaphone.fm/adchoices
SAM ("System for Award Management") is a federal registration that is required if you are going to participate in the federal market. It is sometimes called your “accounting record” and is used as the primary database of vendors doing business with the federal government. In this episode of FedBiz'5, we are hosting Cassie Elbany from FedBiz Access to discuss the importance of your SAM registration.SAM can be found on the official government website (SAM.gov) used to register entities for government contracts or grants.When you register in SAM you are assigned a CAGE code (Commercial and Government Entity) and a UEI number (Unique Entity ID) as your official federal government identifiers. Within the SAM website federal buyers can search for your business, and you can use the system to search for contract opportunities using search features such as keywords, NAICS codes (North American Industry Classification System), or PSC codes (Product and Service Codes).That is why it is important to properly identify is your industry classification using NAICS and PSC codes. Simply put, NAICS codes are for your business function or commercial activity, and PSC describe your products or services themselves. These codes let the federal government, or the federal buyers know what it is you do and makes it easier for them to identify you for award opportunities based on your industry and your products or services offered.A business can self-certify in SAM, but because of the complexity of the registration process many businesses are better suited to use a professional service to complete their registration. This may be considered in the same way that many businesses use a professional accountant to file their tax returns to ensure they are complete and compliant.For businesses looking to work with the federal government, they must remain compliant and keep their registration active to be awarded a federal contract. As your business evolves, so should your SAM be updated to reflect your most current information. SAM must be renewed annually, but can be updated more frequently.Additionally, businesses must conform to the Federal Acquisition Regulations, referred to as the FAR. The FAR are the overriding set of regulations for federal procurement and agreement to adherence to the FAR is required to be registered in SAM. Having a clear understanding of the FAR as you are completing your SAM registration is very critical. A misrepresentation or wrong answer could not only get you in trouble but could bar you from federal work.Businesses also register their business size and socio-economic status while completing the required solicitation clauses and certification. By completing the required solicitation clauses and certifications you certify that the information provided about your company and its business activities are correct.In addition, it is very important that your SBA registration in the Dynamic Small Business Search be properly aligned with your SAM for marketing purposes.One source federal buyers turn to to easily find information you register in SAM is FedBiz Connect, a searchable database of businesses registered for federal contracting that highlights their business to contracting officers and prime contractors. The database is searchable by keywords, business name, CAGE code, UEI No., location, socio-economic status, NAICS Codes, PSC, capability statement, past performance, FEMA registered, smart cards, points of contact, etc. FedBiz is a leading government contracting business development and marketing firm that offers SAM registration services, as well as research and engagement strategy coaching, and certification and GSA Schedule registrations.
The government spends about $580 billion a year on contracts, with 23% of that set aside for small businesses. So how can you begin going after these opportunities? This week, we're talking about the three main things you need to do to get started with contracting for the federal government. Topics we cover in this episode include:How to prepare to start doing government contractingOpportunities in government contracting for small businessesGetting set up in the system: SAM, NAICS codes, and FARUnderstanding the different types of contracts and how to win themHow HUBZone and other SBA certifications can helpLINKSLinks and acronyms referenced in the show:SBA.govDUNS Number (Dun & Bradstreet)NAICS (North American Classification System)SAM (System for Award Management)FAR (Federal Acquisition Regulations)DSBS (Dynamic Small Business Search)GSA (General Services Administration)SubNet (Subcontracting Network System)Construction Excellence ProgramFPDS (Federal Procurement Data System)USASpending.govMATOC (Multiple Award Task Order Contracts)IDIQ (Indefinite Delivery, Indefinite Quantity Contracts)RFQ (Request for Qualifications)8(a) ProgramHUBZone (Historically Underutilized Business Zone)SBA Certification: Economically disadvantaged woman-ownedSBA Service-Disabled Veteran programVisit the episode page at https://contractorsuccessforum.com/government for more details and a transcript of the show.Find all episodes and related links at ContractorSuccessForum.com.Join the conversation on our LinkedIn page: https://www.linkedin.com/company/contractor-success-forumFIND US ONLINERob Williams, Profit Strategist | IronGateESS.comWade Carpenter, CPA, CGMA | CarpenterCPAs.comStephen Brown, Bonding Expert | McWins.com
Apple Podcasts Rate and Review for SpotOn Alan Ringvald is the CEO at Relativity6, a company that offers accurate and fast industry classification through automated 6-digit NAICS codes and company checks. They also provide services that let businesses predict customer behavior accurately. Before founding Relativity6, Alan founded 3 other companies and was also part of Google's partnerships team focused on monetization and implementation. Alan has extensive knowledge of digital marketing, digital strategy, and Google analytics. Alan joins us to discuss why industry classification is essential and how Relativity6 helps bridge some of the gaps with AI and machine learning. He shares the company's recent projects and milestones and explains why you should not purchase third-party data, but instead make one from scratch for your business. Alan also discusses the limitation of the NAICS and how blockchain technology can potentially boost their business growth. "The world today relies on these databases to provide company information." - Alan Ringvald Today on Spot On Insurance: Alan's passion for healthy foods and working with Tom Brady Alan's unique experience during his honeymoon last year What Relativity6 is currently up to today The gaps Alan's company fills regarding classifying businesses Why you shouldn't buy third-party data The limitations of the NAICS What their program can and cannot solve at the moment The number of countries Alan and his team receives data from Blockchain and how it will impact the way we do business transactions Resources Mentioned: Ep. 194: Predicting Customer Behavior North American Industry Classification System Key Takeaways: Open-sourcing your programs can help expedite your business' data gathering strategies. AI will help automate the mundane and repeatable, but humans will still be needed to process complex insurance processes. Connect with Alan Ringvald: Relativity6 Email: alan@relativity6.com This episode was brought to you by….. Insurance Licensing Services of America (ILSA), America's Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com. Connect, Learn, Share Thank you for joining us on this week's episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you're learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!
Interested in knowing more about how to start and establish small business credit? I got S.E. Day of For Small Business Only, to share his tips and suggestions on how to establish business credit effectively and quickly. THE RIGHT WAY! He has started dozens of businesses and has more authority in this field than most people put together. Let's listen in and follow his advice on how to get started the right way if you are starting a small business. Start with your State Department of Corporation. Create a business. Apply for an EIN through IRS: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online Dun and Bradstreet: https://www.dnb.com/ Start a business bank account with a local bank or credit union, get a few business checks to start off with https://www.naics.com/ to set up your NAICS code for industry classification code Magic Jack for landline for your company: https://www.magicjack.com/account/mjLandingpages.do?page=index Quill.com to establish a foundational account/Net 30 "primary piece of establishing credit to get charge accounts and structured loans" questions@creditkristi.com Thanks for listening!
If you are an IT or technology firm (or even if you aren't) you'll be interested in this episode. The long awaited POLARIS RFP is slated to be issued in early January2022. This is a huge program and provides tremendous opportunities for all types of small businesses. The Government plans to make over 300 awards and this is a $10 - $15 billion dollar program. That's huge! In this podcast, find out – Info about the RFPThe service areas included I the RFPHow you can participate (even potentially if you aren't an IT firm)Services and proposal templates available to help you win an award. I do offer proposal writing services and I also offer proposal samples and templates to help you win an award. I talk more about that in the podcast as well. For info on our proposal writing services – email me at info@federalpcs.com to set an appointment to speak. To see what proposal templates we offer, visit https://www.proposalandcertificationsamples.com/polaris-downloads.htmlWhat you should do now (before the final RFP is issued): Ensure your registration in beta.SAM.gov is current and complete. It should include NAICS 541512. Write the parts of the proposal that you know will be included like the professional employee compensation plan, uncompensated overtime plan, supply chain risk management and cyber security plan, etc. Again, samples and templates for many of these are available on my website. Over the last 20 years I have helped nearly 1,000 firms win over $4 billion in work. I can help you too!
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