Corporate Partner Corner
Special benefits and offers from our corporate partners for NAWBO members.
eNewsletters: Are They Still Worth it?
by Roberta Kiphuth, Detati Digital Marketing
Is newsletter marketing is worth the time and effort? Do people even read them anymore?
The answer is YES!…but…they need to provide value.An e-newsletter can be a great tool for building trust and expertise. But make them educational, funny, interesting, and not sales-y.
Build Your List
Ensure that you only send to contacts who have proactively requested (signed up for) the newsletter. Not only is this a best practice, but it is a legal requirement. All group emails sent need to provide an unsubscribe option.
Creating the Content
Good content requires planning. Consider your readers interests and how they access their email. Provide useful and engaging information they look forward to getting. Have at least one original piece of content. People subscribed to YOUR newsletter so make sure they have something to better understand and connect with your business. If you “curate” content, make sure you are giving proper credit. Most businesses are sending the same newsletter to everyone. Create or adapt your content to be more relevant for each segment you have.
It is helpful to plan ahead and create a content calendar. Outline the content or topic you want to showcase each month. Keep in mind that industry events, conference, and current news can all be options for content.
Design
Keep a Regular Rhythm
Make It Easy to Share
Opening Dialogue Through Compliance Training
- Make it a fun event. Since these sessions are mandatory, find a way to shift the attendees’ mindset. Hosting a Lunch ‘n’ Learn will instantaneously generate a better mood. Almost everyone enjoys a free meal and the opportunity to hang out with colleagues.
- Look for a superb qualified trainer. Participants will not recall everything they hear, but they most certainly will remember how they felt during a learning experience. A facilitator that engages the audience, shares personal stories, and brings relevant examples will have a lasting impact. Stay away from lecturers – this is a perfect topic to be practical and non-judgmental.
- Include a variety of real-life case scenarios. Participants need to recognize themselves, thoughts, and potential behaviors in what they are hearing. Customizing your sessions to the audience, industry, and level is key to producing results.
- Focus on the desired behaviors. And stay away from scare tactics!Over the years, I have seen trainers share horror stories in classes I have audited. These may momentarily seem interesting, but they won’t do much to create a positive work environment nor to impact how people act. Ensure that your trainer understands your company values and supported behaviors.
I invite you to think about these guidelines to provide a learning experience that goes beyond covering standard material. After all, the goal of this requirement is prevention and creating a respectful workplace for everyone involved.
Article written by Eugenia Lunden, Founder & CEO, Lunden International LLC, a premier firm that creates innovative training solutions to promote the growth and retention of talented professionals.
President’s Message | August 2019
Welcome to NAWBO Silicon Valley’s 2019-2020 fiscal year! Our new and refreshed group of board members are eager and ready to serve you. We’re already gearing up for<
The Fashion Disrupters on August 20, Women in Politics on September 17, and Legal Experts on October 15.
As a second-term President, I’m humbled by this opportunity to be a servant leader for NAWBO, especially being surrounded by smart, ambitious and talented women business owners. I’m thankful for what I’ve learned from the last fiscal year and build upon that to bring our chapter to the next level. We invite you to join us in making our chapter successful, whether it’s attending our monthly events comprised of panel experts/keynote speakers and dinner, joining our annual signature event − the Crystal Chair Gala − or an offsite corporate sponsored networking event.
- Flordelisa Harris, President, Immediate Past President, Corporate Partnership Director
- Donna Sooter, President-Elect & Treasurer
- Maxine Goulding, Vice President of Special Events & Projects, Communications Director
- Randi Ross, Secretary & Membership Director
- Eugenia Lunden, Marketing Director
- Griselda Quezada-Chavez, International Affairs Director
- Melissa Grimshaw-Vargas, Program Director
- Vandana Agrawal, Public Policy Director
We will miss Jennifer Dizon, who served in various board positions such as chapter president, treasurer and liaison director. However, Jennifer has graciously offered to continue providing us with advice and guidance, so we can certainly count on her NAWBO lifetime experience. We’re so grateful for her generosity!
Our goals for this year will be to increase Membership and Corporate Partners, and we will do so by engaging with our members. As a hardworking board, we want to encourage working members. In return, we will focus on spotlighting and highlighting advocacy opportunities, both for new and current members. We will ask for volunteers to help in various committees, so we can create a succession plan of incoming board members. We will think and act like connectors and networkers − whether it’s at one of our NAWBO events or through other events we attend, so we can increase and surpass our membership and corporate partnership goals.<
Our passion to serve NAWBO and our wide background of experience and knowledge will lead us into reinvigorating our mission and goals for 2019-2020. With our highly revitalized and motivated board members, we look forward to an exciting and energized new year with our amazing members!
Reach Your Audience Beyond Translating Your Training Sessions
Professional development is known to be one of the top markers for employee retention. When bringing a superb program to your diverse workforce, how can you ensure that the learning goes beyond the classroom? Oftentimes attendees will nod in agreement, mainly out of being polite to the enthusiastic presenter. But if your learners come from varied backgrounds – diverse countries, races, ethnicity – they may not be getting the knowledge gems that are being conveyed.
Here are three guidelines to ensure an inclusive learning experience:
- Use global examples. Oftentimes trainers cite sitcoms or use what they believe to be commonly known phrases like “Every cloud has a silver lining,” which do not resonate with audiences outside of the U.S. Pop culture references should be relevant and kept to a minimum. Materials must be designed with content that is representative of universal issues, containing neutral use of linguistics, and with cases that are relevant to a general audience.
- Confirm that the trainer speaks the language and understands the audience represented. Hire an instructor who is proficient in recognizing, understanding, and acknowledging cultural sensitivities. The correct use of language is one component of a great session. But as important to achieving results is knowing how to read the cues of comfort, discomfort, and appropriateness of what is being shared.
- Find a genuine way to relate. Including personal experiences and stories in the delivery consistently increases engagement and information retention. These must be selected with care, confirming that they are powerful but not offensive.
Covering these fundamentals will allow participants to learn at a deeper level because practical application comes from involvement rather than lectures. And to appreciate the richness of a learning moment, learners must first feel comfortable, respected, and acknowledged for their uniqueness and value.
Article written by Eugenia Lunden, Founder & CEO, Lunden International LLC, a premier firm that creates innovative training solutions to promote the growth and retention of talented professionals.
Workplace Words that Wound
Divert Disaster, Delete That Email and Dialogue
While email has made workplace communication efficient, there are times when face-to-face conversations are needed. At these times, defaulting to email is risky and may result in workplace nightmares.
When Technology leads to trouble
Who doesn’t love moving issues, problems and grievances off of a work desk? While auto correct protects us from grammatical errors, there is no technology discernment checker that alerts us when emailing is inappropriate and a conversation is necessary. Email is your enemy when communicating concerns about behaviors or performance issues. Never email a colleague when you are in conflict.
While confident of your ability to hide your frustration and anger, it’s next to impossible to compose a message presenting your case without releasing emotions. Sending email when you are angry or frustrated invites gossip and misunderstanding to move in and multiply. The words we compose while facing a computer screen, we would never say to someone in person.
Email Limitations and Liabilities
Email is devoid of context and human beings communicate through body language, expression and voice. Tone is difficult to interpret and easily misinterpreted without hearing the inflection of someone’s voice. Yes, it can be challenging, awkward and difficult to talk to others about concerns, performance gaps and needed improvements. Even so, defaulting to email in an attempt to prevent coming across frustrated and
angry is risky and dangerous. Instead of averting conflict, you may unintentionally, while undiscerningly, start a workplace war.
In Closing
Email is a powerful and useful business tool when used for the right purpose. When addressing behavior concerns or performance issues, communication via email is igniting a wick attached to dynamite. Avoid an explosion, blow out the flame, walk away from your computer and towards the person with whom you have a concern, and divert disaster by dialoguing.
President’s Message | May 2019
Silicon Valley is known for its championship teams such as the most recent by Golden State Warriors as 1st in the Western Division and San Jose Sharks as 2nd in the Pacific Division. We’d like to think that NAWBO is a top-notch Silicon Valley team of women business owners too. In our mission to help propel women entrepreneurs into economic, social and political spheres of power in Silicon Valley, nationally and globally, we’ve created many wins for women to champion their personal and professional lives.
A couple of our NAWBO members who recently won and were honored at the Silicon Valley Business Journal for the top 100 Women of Influence in Silicon Valley on May 16th are the following:
Randi Ross serves as our Membership Director for Recruiting and is co-founder of Lucross Holdings in 2017. Randi is the first family member to attend college, and she immigrated from Saigon as a 6-year-old who withstood the childhood trauma of witnessing a father that was abusive to a mother who refused to leave the marriage.
“I have been very determined to ensure that I am independent and have options as a hedge or insurance policy against setbacks. This includes the strategy of diversification in building my company.” Her advice is to always push the boundaries of your comfort zone to improve yourself!>
Elvie Teodoro is the founder and executive director of NorCal Academy of Performing Arts, owner of Evergreen School of Music & Arts (ESOMA) and president of South County Homes. She is a proud Filipino-American immigrant bringing music and arts to our children and youth. Being first means being a leader in her community to help and support those who are last to rise up to be their best. Running multiple businesses is not without challenges, but it has its special rewards. Elvie’s advice is to love what you do and maintain the energy and focus in embodying each organization’s vision and values!
Our success and efforts are not by one person, but by a collective group of volunteers who are committed and passionate servant leaders. As we close the end of our fiscal year of June 30th, we ask that you think about joining our winning NAWBO team and volunteer as a board member or committee chair, so you too can become that servant leader you’ve aspired to. If you’re interested, please let me or one of our board members know, and we’d be happy to discuss the position(s) in more detail. A request for nominations will be forthcoming shortly.
We appreciate your wholehearted support and passion for NAWBO, as we continue on this journey in unifying Our Voice of over 10 million women-owned businesses across the country!
Warmest regards,
Flordelisa Harris
Two NAWBO-SV Women Included in Top 100 Women of Influence
Randi Ross co-founded holding company Lucross Holdings in 2017 with the theory of using diversification for financial security. It’s a strategy that comes from a very personal place.
Elvie Barron Teodoro Founder and Executive Director, NorCal Academy of Performing Arts, A 501(c)(3) nonprofit Charitable Organization Executive Director, Owner of Evergreen Studio of Music & The Arts (ESOMA) President/CEO South County Homes, Inc.
President’s Message | April 2019
Bravo to an extraordinarily successful 3rd annual Crystal Chair Awards Gala!!! With the support of our board members, administrator, emcee, keynote speaker, corporate and in-kind sponsors, members and guests, we had over 100 people in attendance at the DoubleTree Hotel in Campbell on April 23rd.
It’s no surprise that our three-time president and event planning extraordinaire, Maxine Goulding, created this gala idea. Maxine has flawlessly executed it over the last few years with the help of her staff at CA Special Occasions.
We celebrated and honored the following exemplary 2019 recipients:
Hannah Kain of ALOM for Crystal Chair Award – Honors a NAWBO member and Silicon Valley business
woman for a lifetime of service in her own business, her community and for other women business owners.
Monika Miles of Miles Consulting for Woman of Distinction Award – Recognizes a NAWBO member and Silicon Valley business woman who has overcome significant challenges to succeed and inspire others.
Cathy Smith of ELREPCO, Inc. for Woman Business Advocate Award – Honors a Silicon Valley business woman who has contributed to the advancement of women in business and established a positive presence for women business owners in the community.
With the help of our effervescent emcee, Guisselle Nunez, and inspirational keynote speaker, Chloe Alpert, we walked away with many gold nuggets on how to succeed as a woman business owner. One of the main takeaways is to have grit – courage and resolve; strength of character and bravery to do what it takes to move on, learn from your experience and never let failures weigh you down!
We look forward to next month’s networking/dinner event on May 21st . Also, we are nearing the end of our fiscal year of June 30th and will need volunteers for board member positions. If you’re interested, please let me know and I’d be happy to hear from you. In the meantime, you can expect to see requests for nominations in the near future.
Thank YOU for supporting NAWBO and helping us unify Our Voice of over 10 million women-owned businesses across the country!
Warmest regards,
Flordelisa Harris
President’s Message | March 2019
Spring has sprung and we are so excited! March brings many new successes and opportunities for our chapter, allowing us to grow and branch out in many new directions while staying rooted in our mission to propel women entrepreneurs into economic, social, and political spheres of power.
Earlier this month, I celebrated my birthday at the Kendra Scott jewelry store in Santana Row. It was a fun way to celebrate with members, friends, and new acquaintances. In return, Kendra Scott donated 20% of their proceeds made during my 3-hour party. The almost $900 donation helps us continue to develop and grow our member programs.
We had a successful connection with our local contact at Yelp, helping to promote their National Women’s History event. Now, we are looking forward to helping our members understand the use of Yelp and how it can boost their business. More details to follow later.
Santa Clara University is launching its first-ever Women’s Corporate Board Readiness Program starting on May 2nd, inspired by the passage of SB 826. We’re proud that one of our longtime NAWBO members and author of the “Board Game”, Betsy Berkhemer-Credaire, will be one of the instructors and mentors. Please check out www.scu.edu to see if you’re interested or if you know someone who’s ready to take this next step in her career.
In keeping with National Women’s History Month and International Women’s Day, we had an exceptional group of panel members and moderator share their organizations’ tools and partnerships that support international connections, best practices for doing business that crosses borders, and how to engage with international opportunities. We appreciate Maureen Broderick of WorldWideWomen, Margarise Correa of BayBrazil, Kathey Winkelman of Gioia Company and Shannon Fraser of U.S. Commercial Service for taking the time to share their knowledge and expertise.
Personally, NAWBO has given me the confidence and connections to pursue my passion in helping children who need mental health and foster care services. In partnering with Rebekah Children’s Services (RCS), I will launch their first-ever onsite children’s birthday celebrations. Please feel free to join us for this free event on March 27th at the Capital Club starting at 5:30 p.m.
On April 23rd, we will host our 3rd annual Crystal Chair Awards gala event at the Doubletree in Campbell. We will honor and celebrate Hannah Kain of ALOM, Monika Miles of Miles Consulting, and Cathy Smith of ELREPCO, Inc. Please reach out to Maxine Goulding, our event planner extraordinaire, to help prepare for this extraordinary event. Maxine can be reached at events@caspecialoccasions.com.
I hope you enjoy this spring season with an abundance of growth and opportunities, as we look forward to our continued efforts in building our NAWBO chapter together as One Voice!
7 Challenges Women Entrepreneurs Face (and How to Overcome Them)
On paper, things have never looked better for female entrepreneurs. In fact, more than 11 million U.S. firms are now owned by women, employing nearly 9 million people and generating $1.7 trillion in sales, according to 2017 data from the National Association of Women Business Owners.
But these numbers only tell part of the story. Women-owned firms are still in the minority, and the hurdles faced by women who have embraced entrepreneurship are vast and often very different than those experienced by their male counterparts. To shed light on some of these disparities, Business News Daily asked female CEOs about the key challenges women entrepreneurs face and how to overcome them.
1. Defying social expectations
Most female business owners who have attended networking events can relate to this scenario: You walk into a crowded seminar and can count the number of women there on one hand. When women entrepreneurs talk business with primarily male executives, it can be unnerving.
In this sort of situation, women may feel as though they need to adopt a stereotypically “male” attitude toward business: competitive, aggressive and sometimes overly harsh. But successful female CEOs believe that remaining true to yourself and finding your own voice are the keys to rising above preconceived expectations.
“Be yourself, and have confidence in who you are,” said Hilary Genga, founder and CEO of Trunkettes. “You made it to where you are through hard work and perseverance, but most importantly, you’re there. Don’t conform yourself to a man’s idea of what a leader should look like.”
2. Dealing with limited access to funding
Not all startup founders look for investors to help get their businesses off the ground, but those who do know how difficult the pitching process can be. Raising capital is even more difficult for women-owned firms. A 2014 Babson College report found that less than 3 percent of venture capital-funded companies had female CEOs. Bonnie Crater, president and CEO of Full Circle Insights, said venture capitalists tend to invest in startups run by people of their own “tribe” – for instance, a Stanford-educated investor will want to back a Stanford alum’s business. This means that VC firms with female partners are more likely to invest in women-run startups. But according to the Babson report, that accounts for only 6 percent of U.S. firms. Women looking for business investors should build confidence through a great team and business plan, recommends Crater.
Investors typically look for businesses that can grow their valuation to more than $1 billion, Crater said. “Think about how to do that,” she advised. “If you have experts on your founding team that can execute the business [operations] well, investors will have confidence in those people. [You also] need a good product market fit.”
Another way to overcome this issue is by working to get more female investors involved in supporting one another, said Felena Hanson, founder of female angel investor group Hera Fund and the Hera Hub co-working space. According to Hanson, groups like hers are “looking to not only inspire and encourage female investors, but to grow and support other female entrepreneurs through both funding and strategic educational workshops.”
Female entrepreneurs can raise the necessary capital for their business by learning to ask for exactly what they need, even if that means requesting more than what they want.
“Women are more conservative and don’t overstate projections,” said Gloria Kolb, CEO and co-founder of Elidah and mentor at UConn’s Technology Incubation Program. “When we pitch investors, we are often pitching realistic numbers. But men so often overstate and exaggerate that investors often discount the numbers off the bat.”
Kolb explained that investors, who are often men, will assume that the women entrepreneurs are operating just like the men and inflating their numbers. Therefore, they will provide funding at lower levels than requested. Women need to understand this dynamic and approach their pitches accordingly.
3. Struggling to be taken seriously
At one time or another, most women CEOs find themselves in a male dominated industry or workplace that does not want to acknowledge their leadership role. Alison Gutterman, CEO and president of her family’s business Jelmar, had this experience early in her career.
“As a female entrepreneur in a male-dominated industry, earning respect has been a struggle,” she said. This was especially difficult for Gutterman, who faced presumptions that she was living off her father’s and grandfather’s reputation.
“I was more than willing to put in the work to create my own reputation for being a hardworking, honorable businessperson in my own right,” Gutterman said. “To overcome this, I have had to learn to build my confidence and overcome my negative self-talk.”
Those negative comments that have built up in your head are stopping you from reaching your full potential, said Gutterman. To combat them, she’s joined a variety of women entrepreneur groups.
“These groups have provided me mentors and peers to inspire me, hit me with reality checks on my capabilities and successes and help be grow and learn from their outside perspectives and experiences,” she said.
4. Owning your accomplishments
The communal, consensus-building qualities encouraged in young girls can leave women unintentionally downplaying their own worth. Molly MacDonald, founder and CEO of The Mobile Locker Co., a startup that provides personal storage for events, said she has always found it difficult to convey her own value as a leader.
“When I talk about the company … I always find myself saying ‘we’ instead of ‘I,'” MacDonald said. “Using the first person to discuss successes feels to me as if I’m bragging, and I cannot shake the idea that if someone knows it’s just me in control, the value of what we do will go down. As I grow the business, I am making an effort to own what I’ve accomplished.” Similarly, Shilonda Downing, founder of Virtual Work Team, advises women to recognize the value of their creative ideas.
“I’ve had to catch myself on occasion when I noticed that I’m giving away too much without a financial commitment from a potential client,” Downing said. “[I] recommend other women value their knowledge as well.”
Sharon Rowlands, who serves as president of Gannett/USA TODAY NETWORK Marketing Solutions and ReachLocal, agreed that confidence is the key to success, even when you’re up against a boardroom full of men. “I had confidence in my abilities to run the business,” said Rowlands. “I just made sure that any initiative I was trying to move forward was backed up by a solid business case. I was never unprepared for the questions I knew would come.”
5. Building a support network
Having a robust support network is essential for entrepreneurial success, so it’s no surprise that 48 percent of female founders report that a lack of available advisers and mentors limits their professional growth, according to Inc.
“With the majority of the high-level business world still being dominated by facilitate the introductions and connections into some of the more elite business networks,” said Hanson. “As most of business today still rings true with the philosophy that ‘it’s not what you know; it’s who you know,’ this can be a huge factor in your ultimate success.”
Knowing where to find the right support network isn’t always easy. A few good places to start include women-focused networking events – such as WIN Conferences, EWomen Network and Bizwomen events – as well as online forums and groups created specifically for women in business, like Ellevate Network.
Once you find your network of supporters, don’t be afraid to ask for what you really need from them.
“Ask often and … be clear about what you need. You never know who has the capacity to help,” said Addie Swartz, CEO of reacHIRE, which connects companies to women who are returning to work after a break or women looking for new roles and advancement.
“People are more likely to jump in if you are specific about what you need them to do,” added Swartz. If you don’t ask, you won’t get.”
6. Balancing business and family life
Parent entrepreneurs have dual responsibilities to their businesses and to their families; finding ways to devote time to both is key to truly achieving that elusive work-life balance, said Genga.
For Michelle Garrett of Garrett Public Relations, finding this balance meant leaving a corporate job and starting her own consulting business before her first child was born. “I knew that if I had continued working in the corporate world that I would
have had to make a lot of choices I didn’t want to make,” said Garrett. “I do think the culture of work is shifting to allow women more flexibility, which is a good thing. But working for yourself will probably always allow more freedom than working for someone else.”
7. Coping with a fear of failure
Failure is a very real possibility in any business venture, but Kristi Piehl, founder and CEO of Media Minefield, advises women to not let their insecurities keep them from dreaming big. She encourages women to work through the moments of self-doubt that every business owner faces and not wait for perfection before starting their business or taking on a big promotion.
Failure also should not be viewed as a negative or an excuse for relinquishing your goals, according to Swartz.
“When you hear no again and again, when your plans don’t turn out or if you make a costly decision … see that as a teaching moment,” she added. The road to success is paved with losses, mishaps and mistakes, but it still can lead to where you want to go as long as you don’t lose sight of your ultimate destination.
“Stay the course,” Swartz said. “Take in all the feedback; filter out the noise and the naysayers; learn from your mistakes and try not to make them again. But whatever you do, do not give up.”
Additional reporting by Nicole Fallon and Shannon Gausepohl. Some source interviews were conducted for a previous version of this article.
Leadership Coaching
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ON-DEMAND COURSE: Technology 101 for New Business Owners
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President’s Message | February 2019
February is the month of love and passion, whether it’s for the ones we hold dear to our hearts or for the pursuit of goals that make us excited for living a full life.
My recent trip to Scottsdale, Arizona for the NAWBO Leadership Development Training (LDT) made me realize how passionate I am about NAWBO’s mission and the importance of our sisterhood. NAWBO is driven to empower and propel women to become successful in our professional and personal lives. They truly provide an infinite amount of resources and tools, so we can become the best version of ourselves whether it’s in our business or home life.
Being surrounded by other NAWBO members throughout the country also provides the personal connections necessary to elevate each of us and our chapters. For example, I was fortunate to meet our NAWBO New York chapter president who has given us the opportunity to connect with Yelp at a national level, specifically for a future event in Silicon Valley.
Now is still a good time to consider serving in one of our committees or think about becoming a board member for our new fiscal year beginning in July. We’re still in the early part of the year where we’re committed to our new year’s resolution and goals. Right? You can start with our upcoming Crystal Chair Awards gala event on April 23rd which attracts over 100 attendees. You can help us create and execute another successful event, as we really could not do this without dedicated and hard-working volunteers who help support NAWBO and its board members.
Please reach out to Maxine Goulding, our event planner extraordinaire, who can be reached at events@caspecialoccasions.com or you can see her personally at one of our upcoming NAWBO events.
Coming down the pike, please also look out for development of our mentorship program. We are working with DECA, who prepares high school students to become emerging leaders and entrepreneurs, and Santa Clara University, who has started a corporate board program. This is an exciting time to think about becoming a mentor as we develop these relationships in the future.
May you live your life full of love and passion, and we hope NAWBO helps enhance your life experiences at work and at home as we are better together as One Voice!
Warmest regards,
Flordelisa Harris
Generational Differences in the Workplace
Submitted by: Maxine Goulding, CSO – California Special Occasions Event Planner/Owner
Understanding the differences in generations and the value they add will become a key competitive advantage in any organization. For business success, we will have to learn to shift our marketing,leadership styles and approach to recruiting to stay relevant in this new marketplace.
Here’s a quick overview of the five generations and key factors for each generation by birth years:
iGen/Generation Z: born 1996 and after – This group has been raised on a Smartphone resulting in their ability to process information faster than other generations. They have a desire for quick, accessible answers (rather than a drive to think through problems) and informality in communications (both written and verbal).
Millennials/Generation Y: born 1977 to 1995 – This group is ambitious, always wants to know “what’s next”, and they love to multi-task. This generation works best in a collaborative, diverse and flexible environment where their work life balance boundaries are respected.
Generation X: born 1965 to 1976 – This group prides itself on working smarter, not harder and with greater output. They like to eliminate tasks, they want structure and direction. Give them projects, recognize them for results and don’t micromanage them in order to inspire loyalty and top performance.
Baby Boomers: born 1946 to 1964 – This group is driven, they work 60-hour weeks and they like doing quality work. They are diplomatic communicators that challenge authority, while valuing relationships and achieving results.
Traditionalists: born 1945 and before – This group respects authority, they are hard workers and their dedication to the company is first. They are very conservative and equate age to seniority on the job which is why they place a high value on the chain of command and stability within an organization.
How will the business qualified income deduction affect your 2018 taxes?
Submitted by: Jennifer Dizon, CPA, Hood & Strong LLP
Final IRS regulations on the qualified business income deduction are out. How will they affect your 2018 taxes?
The Tax Cuts and Jobs Act (TCJA) includes a generous deduction for smaller businesses that operate as pass-through entities, with income that is “passed through” to owners and taxed as individual income.
The IRS has released final regulations and additional guidance for the qualified business income (QBI), or Section 199A deduction. Among other things, the guidance provides clarity on who qualifies for the QBI deduction and how to calculate the deduction amount.
As always, you should consult your tax advisor if QBI applies to you.
QBI deduction in action
The QBI deduction generally allows partnerships, limited liability companies, S corporations and sole proprietorships to deduct up to 20% of QBI received. QBI is the net amount of income, gains, deductions and losses (excluding reasonable compensation, certain investment items and payments to partners) for services rendered. The calculation is performed for each qualified business and aggregated. (If the net amount is below zero, it’s treated as a loss for the following year, reducing that year’s QBI deduction.)
For the full article click here
Be sure to contact your tax advisor for how these rules apply to your situation.
President’s Message | January 2019
Happy New Year 2019!
It’s an exciting time for New Year resolutions and goals. Whether it’s for your personal or professional life, NAWBO is here to help you. With our Silicon Valley board’s recent retreat, we are re-energized and re-invigorated to do more and be more as defined by our mission and goals for the remainder of our fiscal year ending in June 2019.
First and foremost, however, we are here to serve you as NAWBO members. We would like to hear how we can improve the design of our monthly programs to suit your interests and needs. How about the current format and platform? What about the time of the events and venue? Do any of these continue to be the right fit? We would really like to know so please look out for an upcoming member survey and provide us your much-needed honest comments and feedback, so YOUR VOICE becomes OUR VOICE!
Have you considered serving in one of our committees? Now is a good time to think about it, especially as you turn over a new leaf for the new year. We have our upcoming Crystal Chair Gala Event on April 23rd which attracts over 100 attendees. It would be great if you can help us create and execute another successful event, as we really could not do this without dedicated and hard-working volunteers who help support NAWBO and its board members.
Please reach out to Maxine Goulding, our event planner extraordinaire, who can be reached at events@caspecialoccasions.com or you can see her personally at one of our upcoming NAWBO events.
We look forward to building upon our 2018 accomplishments and making 2019 an extraordinary year, as we evolve to be the best versions of ourselves!
Warmest regards,
Flordelisa Harris