Dynamic Duo
Drs. Derron & Leanne Lee reveal their nerdy alter egos
Dynamic Duo
For 21 years, Dr. Derron and Dr. Leanne Lee have been vision(ary) marvels. But when it came to bringing clarity to their finances, they knew Go Figure was the superhero they needed!
6 Points of Interest
TIME OVER TIME: New rules for overtime pay affecting your bottom line.
PROTESTING PROTESTS: When First Amendment rights go wrong.
CASH FLOW CRISIS! 42% of businesses overestimate their cashflow. Are you one of them?
16 Goal Getters
Bringing the Past to Life
From cast-offs to cherished treasures, Michael Todd transforms forgotten furniture into timeless delights.
Exclusive Content
How Stephen Shapiro’s crowd-pleaser Personality Poker yields a winning hand for business teamwork.
24 Taken into Account
Expense Analysis Worksheet
An excerpt from Profit First for Optometrists by Rachel Siegel.
CPA Q&A
Rachel answers your pressing business questions.
Team Spotlight
Why everyone needs a Beth.
PDPR
PO Box 1026
Oakland, Florida 34760
Imagine your spare change morphing into a superhero cape! Donating is like sending a high-five to a furry friend in need. With every dollar, you’re fueling their adventure to a better life whether it's a cozy bed, tasty treats, or life-saving medical care. It’s the ultimate way to share the love and be a champion for those who can’t speak up for themselves!
Volunteering is like joining a fun club where the members have paws and whiskers! You get to be part of a team dedicated to making dogs’ lives better, from walking them in the park to giving them belly rubs. It’s a pawsitively rewarding experience where your time and energy translate into wagging tails and happy barks!
Fostering a dog is like hosting an epic sleepover for pups! You get to be the coolest temporary parent, giving a dog a comfy spot to crash while they wait for their forever home. It’s a winwin: you get to enjoy all the tail wags and cuddles, and the dog gets a taste of family life that makes them even more adoptable. Plus, your home will be filled with love!
Adopting a dog is like adding a new member to your family who’s ready to shower you with unconditional love and tail-wagging excitement! It’s a magical experience where you get to be the hero of their story, giving them a forever home and all the cuddles they’ve ever dreamed of Prepare for endless adventures, slobbery kisses, and a lifetime of friendship with your new furry sidekick!
Rachel Siegel, CPA Owner, Small Business Development Expert
Cindy Lovan, EA Accounting, Tax
Beth Kisner Communication Coordinator
Joslyn Jones, Kirstin Pastorick, Jessica Erdei, Matthew Siegel Bookkeeping
Jamie Ezra Mark Creative Director
Heather Anne Lee Editor
Rheya Tanner Art Director
Josh Clark Designer
Wendy Mak Designer
Andrew Ontko Designer Evan Miklosey Web 407-573-6061 hello@emagency.com emagency.com @EMagencyinc
Growth
and change are thrilling milestones for any business, marking progress and new opportunities. Whether expanding your team, launching a new product, or entering a new market, growth signifies exciting possibilities. However, it can also bring new challenges that may catch even experienced entrepreneurs off guard.
One significant pitfall of growth is the strain it can place on your resources. As your business expands, so do your operational demands— more inventory, employees, and customer inquiries. This can quickly become overwhelming without proper planning, leading to financial missteps such as unexpected expenses and cash flow issues..
I’m feeling those pain points myself right now. Go Figure is rapidly growing, not only taking on fantastic new clients, but increasing our scope of services, too. I’m thrilled to share two new partnerships that will play a crucial role in our journey. The first is with Insight Business Advantage, a collaborative effort with Dr. Scott Colonna. This partnership aims to better equip entrepreneurs and medical professionals with the business tools and strategies they need to succeed.
The second, with the Managed Service Providers Association of America (MSPAA), combines Go Figure’s financial expertise with MSPAA’s deep understanding of the managed service provider industry. We’re thrilled to offer specialized financial and business solutions tailored to this vibrant market of over 100,000 active members.
Just as these partnerships will fuel our growth, they can also have a significant impact on yours. Most small businesses benefit from expert support and strategic advice. Whether through coaching for motivation and direction or consulting for specialized guidance, having a seasoned professional in your corner can unlock your business’s full potential and pave the way for long-term success.
I firmly believe that integrating qualified business coaching and consulting into your strategy can be incredibly beneficial as you navigate growth and change. Our team will be able to provide personalized guidance to help you set clear goals, develop actionable plans, and overcome obstacles, ensuring that your expansion efforts are wellplanned and sustainable.I can’t wait to share more with you soon.
Rachel Siegel, CPA rachel@Go Figureaccounting.net
Go Figure is rapidly growing, not only taking on fantastic new clients, but increasing our scope of services, too. I’m thrilled to share two new partnerships that will play a crucial role in our journey… and yours!
POINTS OF Time Over Time
One of the basic principles of the American workplace is that a hard day’s work deserves a fair day’s pay. Simply put, every worker’s time has value. A cornerstone of that promise is the Fair Labor Standards Act’s (FLSA) requirement that when most workers work more than 40 hours in a week, they get paid more. And beginning July 1, 2024, nearly 4 million additional workers will be eligible for overtime pay thanks to the Labor Department’s new salary threshold for certain exempt employees. Under these
new guidelines, lower-paid salary workers who work more than 40 hours a week will receive overtime protections. Say hello to time and a half and possibly even double time for some of your most valuable employees.
Who Qualifies for Overtime?
The rule impacts standard salaried workers and those considered “highly compensated employees” who make under certain thresholds. It will kick in this year.
On July 1, 2024: If you earn less than $844 per week
($43,888 per year), you are eligible for overtime. HCEs who earn less than $132,964 per year are also eligible for overtime.
On January 1, 2025: If you earn less than $1,128 per week ($58,656 per year), you are eligible for overtime. HCEs who earn less than $151,164 will also be eligible for overtime.
Beyond 2025: The thresholds will further increase every three years beginning on July 1, 2027. Don’t forget that the white-collar exemptions have more requirements than just the
salary threshold. To qualify for these exemptions, employees must meet three criteria:
• Be paid on a salary basis;
• Be paid at least the designated minimum weekly salary; and
• Perform certain duties.
Time to Review Your Pay Practices for Compliance
How can you best prepare for the pending changes? It’s a good idea to start by creating a list of your exempt employees who currently earn between $35,568 and $58,656 a year. You will have to quickly decide whether to raise their salary to meet the new threshold or convert them to non-exempt status. Additionally, you may want to track or otherwise evaluate their actual hours worked to help you understand the potential impact of converting to non-exempt status and to make an informed decision before the effective date.
If you decide to reclassify your employees to non-exempt status, there are many considerations you’ll have to work through, including the following:
How Much to Pay. Will you divide the employee’s weekly salary by 40 hours to determine their hourly rate, or will you factor in the employee’s estimated overtime and adjust accordingly?
Regular Rate Calculations. Overtime premiums are based on the employee’s “regular rate of pay.” Employers are sometimes surprised to learn the regular rate is not simply an employee’s hourly rate of pay or their take-home pay. The regular rate is based on “all remuneration” earned from employment with the exception of eight specific exclusions contained in section 7(e) of the FLSA.
Incentive and Bonus Pay. The regular rate includes all types of compensation
BY THE NUMBERS
2,000 practices
Mars Inc., of Skittles and Snickers fame, is, oddly, the largest owner of standalone veterinary clinics in the United States, operating more than 2,000 practices under the names Banfield, VCA, and BluePearl.
SOURCE: FORBES ADVISOR
$2,524 the amount that the the average U.S. dog owner spends per year or $210 monthly on recurring pet costs. Cats average $1,499 per year.
SOURCE:MARKETWATCH
66% of U.S. households (86.9 million homes) own a pet in 2024. Dogs are the most popular pet in the U.S. (65.1 million U.S. households own a dog), followed by cats (46.5 million households) and freshwater fish (11.1 million households).
SOURCE: FORBES ADVISOR
38 billion the amount Americans spent on health care for companion animals in 2023
SOURCE: FORBES ADVISOR
– including things like non-discretionary bonuses, commissions, payments for undesirable shifts or duties, and some non-cash payments depending on the circumstances. Keep in mind that most bonuses are not discretionary and must be included in the regular rate. It is common for employers to pay out bonuses based on a formula announced ahead of time and designed to incentivize certain behaviors. Such bonuses are not discretionary.
How to
Track Non-Exempt
Employees’ Work Time. Employers are required to make and keep records of non-exempt employees’ working time. Before converting employees to non-exempt status, it may require some planning, reconfiguration of workflow, and implementation of new processes or technology to ensure that you are accurately recording their work time. It is best practice to think about these questions in advance and explore multiple potential record-keeping processes to determine which options meet your needs and are cost-effective.
How Benefits Will Be Affected. Do you have different vacation, sick leave, and other policies for exempt and non-exempt employees? You will have to consider how to transition reclassified employees to new programs and train workers and their supervisors on new procedures.
Clearly, the impending changes to the FLSA’s overtime rules represent a significant challenge to employers. However, with careful thought and advance planning, employers can navigate this new landscape with minimal cost and disruption.
DOES
IN
DISCLAIMER: THE INFORMATION
REEF
HARMONY
Marine scientists have given new meaning to the saying, “If you build it, they will come,” thanks to a study showing that pressing play on a recording of sea noises lures underwater creatures back to dying reefs. Coral larvae near the US Virgin Islands in the Caribbean were up to seven times more likely to put down roots at a struggling reef that had an underwater speaker blasting the sounds of a thriving ecosystem. And the noise could attract fish and other underwater life, too, the researchers said. Some marine biologists have already been using reef sounds to try to rebuild the habitats, half of which have died out since the 1950s.
Protesting Protests
Google fired people for protesting. Is that legal?
In the span of a week, Google reportedly fired about 50 employees over protests of its cloud computing contract with the Israeli government. The move came after dozens of employees participated in demonstrations and sit-ins at Google’s offices in New York and California.
Google’s forceful response raises questions about the extent to which employees are protected when they bring political dissent into the workplace.
Is free speech protected in private-sector employment? Most likely, no.
Under labor laws—which vary from state to state—peaceful protests could qualify as protected activity if employees were protesting against their working conditions—but even in a situation where that was the case, there are restrictions on how workers can protest.
The laws governing private sector jobs vary from state to state, though at-will employment is the norm in nearly every state. (Montana is the sole exception to this rule.) In states like California, there are clear protections for workers who engage in political protest—but only when it takes place outside of work. As private sector workers, the Google protestors “don’t
really have constitutional rights to free speech in the workplace,” according to Cathy Creighton, director of the ILR Buffalo Co-lab, an extension of Cornell University’s School of Industrial and Labor Relations.
If the employees had been protesting against working conditions, the terminations might be legally valid. However, Google has claimed in statements to have “confirmed and reconfirmed” that every fired employee was “personally and definitively involved in disruptive activity inside our buildings.”
“People really can’t wrap their minds around this idea that you don’t have rights in the workplace,” says Creighton, who used to work at the National Labor Relations Board and found that private sector employees who called the agency often didn’t understand the limits of their workplace protections. “You’re allowed to be fired for a good reason, a bad reason, or no reason,” she says. “You could be fired for wearing purple socks. There’s nothing illegal about that.”
While peacefully protesting in defense of your beliefs may be morally commendable, it very well may cost you your job. Something to think about.
Bunny Fluffle
FACT Did you know a group of bunnies is called a fluffle? Think of that the next time you’re having a bad day.
SURVEY SAYS
CASH FLOW CRISIS!
A RECENT SURVEY BY CASH FLOW COMPASS OF 750 SMALL AND MEDIUM-SIZED BUSINESSES REVEALS A STARTLING TREND: ON AVERAGE, THESE BUSINESSES OVERESTIMATE THEIR CASH FLOW BY A STAGGERING 42%.
What does this mean in practical terms? It’s a wakeup call for many business owners who believe they have their financial situation under control, only to find themselves grappling with unexpected cash flow shortages that can jeopardize their business stability and mental well-being. The disconnect between perception and reality often results in missed payments, stalled projects, and a detrimental cycle of short-term crisis management. Serial entrepreneur and author Mike Michalo-
wicz, known for his book Profit First, highlights the peril of cash flow overconfidence.He explains that this overestimation traps business owners in a reactive mindset, where decisions are made in the heat of the moment rather than with long-term stability in mind.As businesses expand, it becomes crucial for owners to escape this cycle and focus on creating operationally efficient and resilient enterprises. This insight underscores the importance of not only understanding one’s financial reality but also implementing strategies that support sustainable growth.As businesses navigate these financial challenges, a shift toward a more strategic approach to cash flow management could be the key to long-term success.
In the realm of heroes, vision is the superpower that lights the path to greatness, transforming lives and shaping destinies. For some, the quest for perfect vision can be elusive, but Dr. Derron Lee and Dr. Leanne Lee have made it their heroic mission to enhance the sight of their community, their patients, and those they champion through their philanthropic endeavors. No, they haven’t found the se-
cret to X-ray vision just yet, but they are committed to changing lives, one lens at a time.
A Dynamic Duo
Like most epic superhero stories, this one begins with two ordinary kids who didn’t realize they’d crossed paths before.
“We began dating in 1992 when we attended the same high school; it was only then we realized he had already met at a sixth-grade science camp,”
Leanne says with a laugh. Now, 32 years later, this dynamic duo is still going strong, writing their own love story— complete with capes and costumes and a profitable business. With a deep love of science and the desire to help people, Leanne accepted several internships while she and Derron attended UC Davis together for their undergraduate degrees. “I did a little bit of everything; I tried pediatrics, OB/GYN, emergency med-
icine, and optometry — I knew I had a love for children, so I wanted to make sure the field I picked had that element.” Intuitively, Leanne knew the question she had to ask each doctor at the end of her internship: “If you knew what you know today, would you still pick this field of medicine?”
Dr. Karrin Vallin was the only doctor who gave a resounding yes to her field of choice: optometry. And that was all Leanne needed to hear. “And Derron was smart enough to follow my lead,” she says with a laugh.
Leanne worked for Dr. Vallin in the summer months as a receptionist, and Derron was able to intern with her husband, Dr. Mark Waldmire, who was also an optometrist. One young optometrist couple learning from an established one—their course was within sight.
“When we finished our undergraduate degrees, we moved to New York City together to attend SUNY College of Optometry.”
Living in New York City was a time in their lives the couple cherished, so much so that many people didn’t expect them to move back to California upon graduation — until the events of September 11, 2001.
“The tragedy of 9/11 shook not only us but the world. It was one thing to see it on TV, but witnessing it happen right in front of you changed us. It’s not something you forget.” Leanne pauses, before adding, “We loved New York, but we missed our families. We wanted to be closer to home, and that was Stockton.”
In 2003, Leanne and Derron graduated, made the move back to sunny California, and worked to get their practice off the ground. The Lees have been practicing doctors for 21 years and business owners for 17 years.
Profitability… and Beyond!
You’d think a medical degree would give you everything you need to handle a private prac-
tice. However, that couldn’t be further from the truth. Operating a practice, finding a location, managing the finances, knowing who to pay and when—these new doctors needed someone who knew what their next steps should be.
“I read a lot of Simon Sinek and would encourage others to do the same. Everyone knows what we do as optometrists, but they don’t know why. I found that to be incredibly important to share with those in our community.”
Leanne goes on to explain that sharing that “why” with their staff, partners, and customers has led them to not only better treat patients but also create lasting relationships that extend far beyond the walls of an office.
While the Lees were pouring their hearts into discovering their “why” and managing a rapidly expanding patient roster, their financial records and accounting practices were
screaming for attention. “We had a family to raise, a practice to grow, employees to manage, and patients to support—our books simply got lost in the shuffle,” Leanne admits. Owning and operating an optometry practice is like navigating a maze with no clear map, and the pitfalls were everywhere. That’s when they sought out Scott Colonna, a business coach and fellow optometrist, who recommended they call Rachel Siegel at Go Figure Accounting. This call would change everything.
“Rachel is a great listener,” Leanne begins. “She brought a fresh perspective and a wealth of knowledge to the table. She dove right into our books and quickly identified areas for improvement.”
By implementing new accounting practices and providing ongoing support, Rachel helped the Lees transform their books from a disorganized mess into a well-
oiled machine, allowing them to concentrate on what they do best: providing exceptional care to their patients.
“But she wasn’t done with us yet,” Leanne says, smiling. “After our cash flow started to improve, Rachel introduced us to Profit First, and it has been a game-changer for our business.”
Rachel eased the Lees into Profit First by setting achievable and manageable goals, which helped them budget more effectively.
“It clicked immediately,and it wasn’t intimidating at all,” Leanne says. “Of course, we wanted to be a profitable business, but we had other goals we had always wanted to achieve and we knew right away that Profit First would help get us there.”
Those goals had a philanthropic mission. “When we first started our practice, we didn’t have the financial ability to donate.We offered our time and profession-
al services whenever we could. But thanks to Profit First, we’ve unlocked the ability to contribute financially and reserve funds for charity events. Now, our new mission is to expand, hire another doctor, and focus on working on the practice rather than in it.”
Go Figure stepped in as the ultimate sidekick, seamlessly handling the bookkeeping so these superhero doctors could concentrate on their patients.
“I was finally able to get out of our books and use my brainpower to work on projects for growth, see more patients, and truly drive our practice forward,” Leanne says.
Monsters, Inc.
With finances finally in check, the Lees have been able to focus their attention on building a unique experience for their practice, inside and out. In fact, one might say their practice is infused with a healthy dose of “Marvel mentality.”
“My husband loves Marvel,” Leanne says with a laugh. “Even our Mission Statement is an homage to the Avengers—accountability, valor, ethical, never give up, give back, efficient, results, self-motivating. Derron is definitely Iron Man, and I am The Vision ( a mix of all the Avengers). It defines our personality traits, too. We are polar opposites. He is Popular/ Powerful and handles Marketing. While I am Perfect/Peaceful and handle Operations and HR.”
The superhero theme infuses the ins and outs of daily practice as well. “Derron graciously gave up his man cave at home to bring the games and superhero paraphernalia to the office,” explains Leanne. “Most of the exam rooms are interactive with jedi light sabers or the Iron Man glove. We let our patients pose with them for pictures and they love it!! Big kids and small kids alike. We love bringing joy to
them when we see them. It is so much more than an eye exam … it is a whole experience!”
And, of course, there’s the “Marvel” effect on family life.
“Honestly, Derron always loved Marvel, but it wasn’t a huge part of our lives until we had kids and started dressing up for Halloween. That’s when we really got into it!”
The Lees now have two teenage children, Logan and Chloe, and like most teens, their enthusiasm for cosplay has waned. But that’s OK. “We still like to have fun, but our priorities are shifting when it comes to the kids.Family vacations are important, as are planning for their futures.”
Which led them to chat with Rachel about making new goals for their Profit First account.
“Derron and I struggle with clocking out,” Leanne says.
“But now that Logan and Chloe are older, we are more aware of
“After our cash flow started to improve, Rachel introduced us to Profit First, and it has been a game-changer for our business.”
keeping work at work and home at home.”
And thanks to Profit First, the Lees don’t have to stress about potential lost income, whether that is unforseen economic changes or being on vacation.
“We have grit, and we’re still here. We have been able to pivot in any economic environment and continue our mission of helping people.”
Like vision, success can be measured on a sliding scale. What a victory looks like for one may look dramatically different for another. Success for Leanne and Derron is simple: “Being able to sleep at night, knowing we did the right thing. On a more tangible note, having freedom.”
With Rachel, Go Figure, and a vision locked clearly on the future, Dr. Derron and Dr. Leanne have built Midtown Optometry into a place full of healing, profit, and purpose.
From cast-off relics to cherished treasures, Michael Todd transforms forgotten furniture into timeless delights.
Bringing the Past to Life
STORY HEATHER DIAZ PHOTO FRED LOPEZ
Restoration demands a creative eye, a patient heart, and hard-working hands. Michael Todd, a spirited and driven individual, embarked on his restoration journey as a therapeutic escape.
“I found myself taking on more and more projects, with no intention of selling my creations,” he says, “I started accumulating many pieces and rented a small floor space in Apopka. About two years later, my work was placed in the Adjectives Markets around Central Florida.” Michael explains that many of his pieces— ranging from tables and dressers to buffets and entertainment centers—are sourced from thrift shows up north, making their way down to Florida, where they await his skilled touch to breathe new life into them. These robust wooden furniture pieces undergo a transformation—they’re stripped, repainted, and adorned with new hardware, sometimes featuring glass or granite accent tops or drawers. Not only are they visually striking, but theyance between timeless classics and modern aesthetics, reflecting the tastes and preferences
“The busier I became, the more honed in my craft I became,” Michael reflects. “When I started, I wasn’t overly concerned with the finer details; my focus was on the broader picture. I even received criticism from a fellow member of the restoration industry, who labeled my work as ‘crappy,’” he says with a chuckle. “But that criticism was a turning point for me—a catalyst for growth.” Instead of deterring him, constructive criticism challenged Michael to explore new techniques, experiment with different processes, and strive for consistent quality. Today, Michael juggles around 80 pieces at a time, supplying six stores during the summer months, often with the assistance of his 16-year-old grandson. Once a piece is ready, it finds its way to one of the multiple stores or to a commissioned home. “While I could expand further, I always prioritize the quality of my products,” Michael explains. Selecting pieces strategically, he focuses on refurbishing items like dressers, chests, nightstands, and occasionally tables, considering the unique requirements of each store and customer. “I dedicate a significant amount of time to sourcing furniture, just as much as I spend on refurbishing,” Michael emphasizes. Evaluating factors like price, repurposing costs, material quality, and repair needs, he meticulously selects each piece with care. “I work diligently to ensure that I don’t
have to inflate prices unnecessarily. If something is broken or doesn’t meet my standards, I know I can fix it. Unlike some high-end stores where a dresser might fetch over $1,000, I aim to keep my prices reasonable, typically under $400.”
For Michael, customer satisfaction is paramount. “Taking care of people is important to me. I want each customer to be pleased with their purchase; I want our reputation to grow because their experience is positive,” he explains. Pride radiates from Michael as he reflects on his journey. From the products he painstakingly creates to the relationships he fosters with customers and the legacy he leaves behind, Michael’s work is a testament to his passion and commitment. “My favorite moments are hearing from someone who purchased a piece from me years ago, still cherishing it as if it were brand new. I know I’ve succeeded, seeing my work bringing enduring joy to others.”
As Michael delved deeper into the world of restoration, he soon encountered the intricate maze of financial management. Balancing the demands of sourcing and restoring furniture pieces left him little time, and even less inclination, to tend to his own financial affairs. Enter: Rachel Siegel. “She had been my then-girlfriend’s accountant, and when I recognized my need for financial assistance, Rachel was
introduced to me.”
With the support of Rachel and Go Figure’s expertise, Michael can focus on his craft while leaving the financial complexities in capable hands.
Rachel’s counsel ensures that Michael can make informed decisions about his business, from forecasting earnings to managing expenses effectively.
“Rachel’s assistance has been invaluable,” Michael affirms.
“From understanding my costs to determining the value of my time and identifying where best
to allocate my efforts, Rachel is the expert in all facets of business finance.”
With steadfast confidence, Michael entrusts Rachel to steer him in the right direction, particularly when it comes to navigating tax obligations and seizing opportunities for financial optimization. “She can see the bigger picture. While I may be focused on meeting deadlines, Rachel’s proactive approach ensures that I’m strategic in minimizing expenses and maximizing returns. Her
“My favorite moments are hearing from someone who purchased a piece from me years ago, still cherishing it as if it were brand new. I know I’ve succeeded, seeing my work bringing enduring joy to others.”
insights this past year alone have saved me a considerable sum—that’s why you hire an expert.” Rachel’s impact extends far beyond financial management; she’s implemented streamlined processes that enhance Michael’s efficiency.
“Navigating business expenses used to be a cumbersome task, sifting through receipts and distinguishing between personal and business transactions,” Michael recalls. “But with Rachel’s guidance, we’ve established a foolproof system, including
a business debit card, which simplifies expense tracking. Now, I can focus on what matters most—my craft—knowing that my time is safeguarded.”
Michael’s admiration extends beyond Rachel to the entire Go Figure team, where a culture of excellence is evident in every interaction. “Every encounter, whether in person or over the phone, is marked by their warmth and professionalism,” he remarks. Michael attributes this culture to Rachel’s leadership, which inspires a sense of purpose and pride among team members.
“Rachel is a leader who lights the way for her team. Even during the frenzied pace of tax season, their responsiveness never wavers. Whether it’s responding to emails promptly or addressing urgent concerns, Go Figure’s support is what sets them apart.”
With Go Figure, Michael has found more than just financial advisors; he’s found trusted partners dedicated to his success. As he continues to build his legacy through the restoration of lasting furniture pieces, Michael finds solace in knowing that his financial
affairs are in capable hands, allowing him to pursue his passion with dedication.
As Elton John’s melodies provide a backdrop to his work, Michael Todd carefully breathes new life into forgotten furniture pieces. Like the legendary musician, Michael is a storyteller, tirelessly preserving the narratives woven into each piece he restores. With unwavering devotion, Michael ensures that everything—from his finances to his furniture and his relation-
Stephen Shapiro
Within the first few minutes of conversation, one can see Stephen Shapiro as most would describe him—as creative, quirky, fun, and a little counter-cultural. Whatever it is that resonates with so many is clearly book-turned-seminar sensation, has open doors
is known as a Diamond, which means I am the creative, spontaneous type. Not very good at being organized,” Stephen explains. “I am also a bit of a Heart because I love to connect with people.”
3M, Marriott, NASA, P&G, and
The concept is simple. Each suit in a deck of poker cards represents Diamonds are creative, Hearts are empathetic, Clubs are organized, the job they are best meant to do. assess what type of person you are to faciliate the Personality Poker personality actually sees himself introverted. And his success with given a $30 million budget. “In
With a $30 million budget, Stephen decided he needed a co-leader who could take the blame in case anything went wrong.
“I brought in John. He was a larger-than-life, happy DiamondHeart, as it turned out,” Stephen says. “John and I got along great. We were both the same.”
He learned three things about that project. First, they developed more new ideas in that project than any other project in the entire history of the company. That was the Diamond characteristic; they wanted to be the best. Second, everyone at the project had a blast—that was the Heart, they wanted everyone to enjoy themselves. Third, “It was the biggest waste of $30 million you’ve seen in your life,” Stephen says with chagrin.
They got so focused on being fun and innovative that they never thought about the “Clubs,” which was the implementation.
“That was our blind spot,” Stephen says. “The Clubs are the ones who plan the work and work the plan. They make sure we understand what it is we need to deliver.”
That project ended as a big failure. For the next project, they cut his budget from $30 million to $6 million. He also did not get
“In Personality Poker, I am what is known as a Diamond, which means I am the creative, spontaneous type. Not very good at being organized.”
to choose his co-leader. “They gave me Ray,” Stephen says wryly. “Ray was a self-proclaimed anal-retentive program manager, who was annoying as hell and in my face,” he shares. “’We are over budget,’ he’d say. ‘I need the deliverable. I need it now!’”
They were going at it for over a month, and Stephen was miserable. “Going to work felt so restricted and so limited,” he says. “I finally pulled Ray aside to have lunch off-site and said, ‘Ray, I have to tell you, I don’t like you.’ He laughed and said, ‘I don’t like you either.’”
But one thing was clear: even though Stephen and Ray didn’t like each other, they knew they
needed each other. Their personalities actually worked to make a full deck. So they decided to figure out a way to make it work.
“And we did,” Stephen says. “What we created was magical.”
They had more success with a $6 million budget because they learned how to work together, and more importantly, they learned how to appreciate one another.
“That, to me, is one of the most powerful stories on why we need something like Personality Poker,” Stephen says.
How It Works
There are four general principles behind Personality Poker: First, each person on your team
needs to play in their strong suit. They need to know what they do better than anyone else, and that is the work they need to be doing as their center of gravity.
Second, you need to make sure you are playing with a full deck, which means you need to have all the different styles.What happens is, we believe ‘opposites attract,’ but the reality is opposites detract. People want to be with people who are similar, so when we hire people, we hire those who fit the mold.
“When we hire people that fit the mold, the organization grows mold because you have all that sameness, that chronic similarity,” Stephen explains.
“Personality Poker allows you to bring in different groups needed for a full deck.”
Personality Poker allows you to bring in different groups needed for a full deck.
Third, everyone does their part, so they divide and conquer.
Fourth, the last part is to shuffle the deck. In certain types of situations, you want collabora tion among all the different suits.
Pivot
As with all things in life and business, there comes a time when we reach a pivotal mo ment—a crossroads where change is not just an option, but a necessity. This realiza tion led to the perfect name for Stephen’s new book: The title beautifully encap sulates the essence of these critical turning points and ties seamlessly into the journey that Personality Poker represents.
“During the pandemic, the word ‘pivot’ was the word every one used,” Stephen explains. The problem was everyone was spinning in circles. They were chasing problems, rather than
planting their feet.
circles. Yet the most important foot is not the one that is moving, it is the one that is not. Once you move that planted foot, it is no longer pivoting, it is traveling,” he says. The player gets hit with a penalty.
“The same thing is true in business,” Stephen shares. “It is OK to change and to be adaptable, but first, we need to focus on stability.”
The essence of Pivotal is knowing what we shouldn’t change in order to build a solid platform so that when we do need to change, it is built on a solid foundation.
GAME ON
Want to bring Personality Poker to your next event? Stephen can deliver the ultimate in-person or virtual experience, but so can Rachel. She loved Personality Poker so much, she worked with Stephen to become a Certified Coach.
TAKEN
INTO
Expense Analysis Worksheet
Streamline your practice’s Profit First workflow for greater efficiency.
The Expense Analysis Worksheet is a simple tool created to help owners review and optimize their practice’s expenses. This worksheet guides you through an examination of your spending, helping you to uncover areas where costs can be reduced intelligently and effectively.By aligning your
expense management with the Profit First methodology, you can ensure a more financially sound and efficient practice, paving the way for sustainable growth and profitability.
This is the first step in transforming your practice’s financial health! This worksheet is designed to guide
you through a detailed analysis of your current expenses, helping you align them with the Profit First principles. By the end of this exercise, you’ll have a clearer understanding of where your money is going and how you can optimize it for a more profitable and efficient practice.
Instructions
Go through the questions and type your answers in the boxes. Save the PDF document with your answers. Send an email to me with your completed Expense Analysis, and I’ll help you analyze it: rachel@Go Figureaccounting
Current Expense Analysis
INSTRUCTIONS: Below, type into each box your current expense per line item.
List all current expenses:
EXPENSE REVIEW
Type any thoughts or observations on areas you wish to focus on improving below.
Profit First Allocation Check
INSTRUCTIONS: Below, type into each box your current expense per line item.
ALLOCATION REVIEW
The Profit First method involves allocating a percentage of your total income to different accounts based on predetermined targets. The typical allocation percentages recommended by the Profit First system are as follows:
Account: 15% of total income
Account: 15% of total income (depending on your tax rate and requirements)
20% of total income
To calculate the allocations using the Profit First method, you would follow these steps: Determine your total income for the period.
Multiply your total income by the respective percentages for each account:
Bring It All Together
Identifying Cost-Saving Opportunities
Review each expense line. Note potential areas for reduction or optimization.
Suggestions for cost-saving based on Profit First:
Can any services be consolidated or renegotiated for better rates? Are there any non-essential expenses that can be eliminated?
Explore innovative ways to maintain quality while reducing costs.
Action Plan for Expense Optimization
List specific actions to be taken for each identified opportunity. Set timelines and responsible parties for implementing changes.
Monitoring and Adjusting Allocations
Plan to review and adjust allocations regularly.
Note any changes in income and corresponding adjustments in allocations.
Expense Analysis Reflection
Type any thoughts or observations on areas you wish to focus on improving below.
Ask Rachel
Rachel answers your tough business questions.
I’ve been in business for about a year, so I’m obviously making it happen, but I really have no idea what I’m doing. Help!
I can’t tell you how often this has come up in our recent meetings and consultations. So let me reassure you that feeling lost is normal.
Sure, having your own business is great, but it’s easy to feel overwhelmed. When working with clients in situations like this, I always encourage them to simply dial it back. Progress is progress, no matter how small. And it helps to keep these three things in mind:
Remember your purpose. The stress of running your business will often make you lose sight of the reason why you started it in the first place. Your purpose is what’s behind everything you do, whether you’re aware of this or not. Regardless of your current situation, the clearer your purpose is, the easier all the insurmountable personal and business challenges you face will be.
Not clear on what that is? Again, totally normal. Which is why I highly recommend Simon Sinek’s book, Start with Why.
Knowing your WHY is not the only way to be successful, but it is the only way to maintain a lasting success and have a greater blend of innovation and flexibility. When a WHY goes fuzzy, it becomes much more difficult to maintain the growth, loyalty, and inspiration that helped drive the original success.
So write down your purpose and keep it somewhere you can see it at all times.
Ask for help. Sometimes the best solution is the easiest one, and that’s asking for help. However, it’s important to define the problem in clear and concise terms. Then, take it to a trusted business mentor with more experience than you. At the end of the day, you get what you ask for. If you ask for help, you will get it. And with that help, you can break through your problem and continue making progress toward your goals.
Focus on one thing. Don’t get lost in the monumental goals you’ve defined for yourself and your business. Focus instead on the few tasks that propel you forward, however small they may be. If customer service is what truly matters for your business, then every chat, email, or phone conversation you have with a customer will be the most
important thing you can do. Each one individually won’t have a big impact in your future growth, but all of them together will.
Is Q3 too late for tax planning?
It’s never too late! Tax planning is actually a year-round endeavor!
Now would be a great time to review how your business is set up, and whether that’s still optimal. As your business and income grow, the best structure for your business may change. Making changes early can significantly impact your 2024 tax burden. This is something you should review with your CPA and certified financial planner every few years (or more often if your business is growing rapidly or if there have been changes to the ownership).
While you’re on the tax planning topic, you should also take a look at your bookkeeping system. Still relying on that shoebox full of receipts? Now would be a great time to organize and upgrade. This can be easily done with software like QuickBooks, and most bookkeepers and accountants still have time to help you through the process.
Rachel Siegel, CPA
As an entrepreneur, you put a great deal of thought into surrounding yourself with talented and dynamic people who add to the success of your business endeavors. The abilities and contributions of your team often determine the outcome of your project. Yet, there is one position often overlooked by the most ambitious and successful entrepreneurs. No, it isn’t you. It isn’t your VP or manager. It’s your “Beth.” Beth can have any number of titles—office manager, executive assistant, client liaison, administrative
Why Everyone Needs A Beth
coordinator, client relationship director—but technically she is your Success Coordinator.
Now, Beth is not someone who spends the day merely opening mail, pouring coffee, and answering the phone. Beth is someone who, if well placed, can enhance your productivity and brand ten-fold by compensating for weaknesses, enhancing professionalism, expanding productivity, and increasing the organization of your company.
Here are three main reasons why our business has a “Beth” and so should yours.
The Gatekeeping of Productivity
Beth plays a crucial role in ensuring that the office runs smoothly and efficiently.
In fact, she is the first line of defense when optimizing workflow and maintaining organization. From screening calls and directing emails to coordinating deadlines and prioritizing tasks, Beth is adept at juggling multiple responsibilities with ease. She is skilled at anticipating needs, troubleshooting issues, and finding solutions to any problems that may arise.
Not only does she manage client expectations, but she also oversees internal staff, ensuring that important tasks are completed on time and that everything runs smoothly. Her dedication and attention to detail make her indispensable in keeping the business thriving.
The Ultimate Multitasker
Beth is the ultimate multitasker, capable of handling a wide range of responsibilities simultaneously. From updating calendars to answering phones and drafting emails, she effortlessly navigates through various tasks and deadlines. Her ability to prioritize and stay organized is essential in ensuring that all duties are completed efficiently.
Beth ensures that important tasks are completed on time and that everyone stays on track. She plays a critical role in setting reminders and coordinating meetings and appointments. By meticulously tracking deadlines and maintaining schedules, Beth ensures that no project falls behind and no meeting is missed.
The Glue that Holds the Team Together
Outside of all her incredible office strengths, Beth plays a vital role in fostering a sense of camaraderie within the office. She’s the go-to person for team members seeking guidance or assistance, and she serves as a valuable resource for infor-
mation and support to team members and clients alike.
She’s fun and funny, and she’s skilled at building relationships with colleagues and clients alike. She creates a welcoming and inclusive environment, making everyone feel valued and appreciated. Plus, her positive attitude and ability to communicate effectively contribute to a harmonious work atmosphere where teamwork and cooperation thrive.
At Go Figure, we actually have a Beth. From the moment you step into our office, Beth is the warm smile that greets you, the hand that guides you, and the dependable presence that ensures everything runs like clockwork. But her role extends far beyond mere logistics and administrative tasks— Beth is the glue that holds our team together.
But what truly sets Beth apart is her innate ability to connect with people. Whether it’s forging strong relationships with clients or lending a compassionate ear to a colleague in need, Beth’s genuine kindness and empathy shine through in everything she does.
Here at Go Figure, we’re not just lucky to have a Beth—we’re downright grateful. She is the beating heart of our team, the secret ingredient to our success, and the steadfast ally we can always count on. So to all the entrepreneurs out there, take note: Everyone needs a Beth. Trust us, your business will thank you for it.
“Beth” can have any number of titles— office manager, executive assistant, client liaison, administrative coordinator, client relationship director—but technically she is your Success Coordinator.
See the possibilities
Mike Michalowicz’s Profit First is a book and cash flow method for creating good business habits. Go Figure is writing the Profit First for Optometrists book. While it’s Optometry focused, it has been expressly written so that the principles within can easily be applied to all types of business.