Perpetually Late? Have you calculated the cost?

by Kelly Totten on July 9, 2017

Repost from February 2010:

Recently I’ve been asked to attend a daily 15 minute project status meeting. So far, each day at least one person has kept the group waiting 5 minutes. That’s 1/3 of this meeting, but I digress.

At first glance, you think “It’s only 5 minutes, what’s the big deal?” Well I have a couple of issues with tardiness to meetings. First, where I come from, punctuality is a sign of respect. I know sometimes there are traffic or other issues and I am certainly not 100% perfect. Occasional lateness is understandable and 5 minutes late for a one time meeting is not that big of a deal (but do apologize!). However, when it’s a phone meeting that is every day of the week, being late every day is unacceptable in my book. It’s disrespectful to those who are waiting for the tardy attendee to show up.

Now let’s move on to how much money this costs. In the case of the project meeting I’m attending, at least 2 people are waiting every day for others to show. 2 people, 5 minutes a day, 20 days in a month. That’s 3.33 hours of WAITING. Is that in the project budget? I doubt it. Assuming a minimum bill rate of $100 per hour, that’s $333 per month because one person hits their snooze button every day. What a waste.

[click to continue…]

{ 0 comments }

Business Lessons from “The Gambler”

by Kelly Totten on February 20, 2013

Sometimes the best business lessons are really life lessons.  Do you know the song “The Gambler”?  This song hits the nail on the head: “Know when to hold ’em, know when to fold ’em, know when to walk away, and know when to run”.  How can you apply this to various aspects of your business? [click to continue…]

{ 0 comments }

What gets reported on 2011 1099-MISC

December 29, 2011

For the most part, 1099 rules remain the same this year, but there is one major change.  The IRS is now requiring third party payment processors to report payments made to you through their systems.  You’ll get a 1099-K for each person who paid you with a credit card, debit card, PayPal, etc.  Similarly, people […]

Read the full article →

Ready to Get MORE Productive? Zero-cost TeleForum Feb. 17th

February 9, 2011

Have you ever wondered why your day always ends before your to-do list does? Are endless interruptions keeping you from focusing on the creative or business development work you know you need to do? Join Pam Bryan, Certified Productivity Coach, for a zero-cost, fast-paced, 60 minute TeleForum to learn why personal productivity is such a […]

Read the full article →

How much cargo is on that Crazy Train?

January 28, 2011

Time tracking is an area that most creatives vehemently oppose.  “It’s a creative process, we don’t know how much time it will take.”  or “It depends on the person and the project.  Sometimes it’s quick and sometimes it’s not.”  These are valid arguments.  These arguments can be applied to other service based businesses as well.  […]

Read the full article →

Cash is SO Old School

January 24, 2011

Most businesses have credit or debit cards to manage their non-check or automatic transactions.  But I still run into some businesses that are relying on old school cash for various transactions.  Don’t get me wrong, there’s nothing wrong with properly documented use of cash, but it’s rarely tracked well. PLEASE, I beg you, do not […]

Read the full article →

Controlling Your Paper: 3 Paperless Office Solutions

January 21, 2011

Like many others, I am in pursuit of the paperless office. There are many solutions out there, but finding the right solution is difficult. For my purposes, mac compatibility and an online solution were a must. In addition, I needed a solution that would accept emailed receipts, since75% of my receipts are in email format. […]

Read the full article →

Year End Tax Strategies

December 28, 2010

At this time of year, a lot of my conversations revolve around tax saving strategies. I’ve spoken with several CPAs recently and the advice for cash basis tax payers is consistent. If you are showing a net profit for the year, here are the top 3 strategies for reducing your 2010 tax bill: Defer income […]

Read the full article →