Money Monday

Money Monday: Go Get Those Taxes. This Financial Template Can Help

Nothing like a good accountant to set clients up for success by sending them a Client Organizer packet! This tax season may be a real head spin with all of the pandemic federal stimulus money that went out. Some money that was sent as a grant (like the PPP loan if you applied and got it “forgiven”), and some money that was sent as an advance (like the Child Tax Credit that is simply an advance of the credit you were getting before…it’s not free money and you may need to pay it back depending on how your 2021 income/expenses balanced out).

A few tax tips for this year:

  • Pat Yourself On The Back:
    First of all, if you did something different than you did last year, like if you stayed up on your bookkeeping so that issuing 1099s and W2s is a breeze, then do pat yourself on the back for that accomplishment!

  • Note Which Expenses You Aren’t Using:
    There are some subscriptions you may have forgotten about, and can cancel this year. Make note of them, and carve time out in your day to pursue their logins, and cancel. Or, revive use of a good thing if you forgot about it!

  • Use A Bookkeeping Software:
    If you haven’t switched to Quickbooks, Waveapps, or another bookkeeping software yet, now is the time. We saw in the pandemic times, when applying for loans or grants, quickly issuing reports for payroll and expenses was imperative to getting that government money. Tin Shingle does offer a fancy Excel spreadsheet for freelancers and business owners who haven’t stepped into software yet, if you prefer living within the lines of Excel. But remember, the dynamic effects of Quickbooks are really special and time-saving.

  • Use Quickbook’s Payroll Feature:
    One of the best decisions I ever made. The Quickbooks Payroll Feature can do all of your federal and state filing for you if you pay the top tier. You can also issue a paycheck whenever you want for no additional cost. Other payroll services may charge you $90 or more per check. Ouch! And no. That is so old school.

  • Pandemic Money:
    Track it. All of those stimulus payments, rental assistance, everything. Put it into the spreadsheet that you give to your accountant.

  • Hire An Accountant:
    Could be very good for you, rather than going in circles with the changing rules of the IRS. However, if you do do your own taxes, hats off to you! That is major.

  • 2020 vs 2021 vs 2022:
    Go easy on yourself if you mis-state the year. So many people have been wishing everyone a Happy 2020. These pandemic years have blurred together! If you think you didn’t pay a vendor this year for 1099 income, do a double check in your books, as it may have indeed happened in 2021 and not 2020.

Members of Tin Shingle get all of our templates for free. You can buy the Finances template separate, and have lifetime access to updates when we release them.

When Roth IRAs Trend: How To Create Meaningful PR During A Groundbreaking Story From ProPublica

“When Roth IRAs were trending in Twitter…” says no one over.

Except the phenomenon of the sleepy lifestyle topic - retirement planning - did take over Twitter when ProPublica published their article chronicling how the mega-tech-investor Peter Thiel (co-founder of PayPal, investor in Facebook, donor to Trump, among many other choices), used - very creatively - his Roth IRA to build and hold $5 billion tax free. Roth IRAs, according to ProPublica, were designed as retirement planning tools for the middle class, and have income restrictions.

The angle of ProPublica’s story - and the audience reaction - was how mega-wealthy investors with mindsets like Peter’s are using Roth IRAs that normal people have access to, in order to spike the way it grows money. While the first impression may be: “WOW, that’s a lot of money to shield from taxes….,” the next reaction of a Roth IRA holder might be: “Wait, how did he do that again? What am I not doing in my Roth IRA to grow it that big?”

And there you have the opportunity for a financial expert to step into this trending news story - while respecting its message of how people game a system - to help others actually pay attention to their Roth IRA, instead of letting their Roth IRA be dormant behind some login somewhere, languishing from no one paying attention to it, depositing any money into their Roth IRA, or tweaking its levers to grow that money on trees. Which is what IRAs were intended to do.

Roth IRA At Its Basic - And How Peter Blew It Up To $5 Billion

According to the ProPublica article, Peter deposited $2,000 into his Roth IRA in 1999 and grew it into $5 billion, “using stock deals unavailable to most people.” According to Vanguard, an investment management group, “A Roth IRA is an individual retirement account that offers tax-free growth and tax-free withdrawals in retirement. Roth IRA rules dictate that as long as you've owned your account for 5 years* and you're age 59½ or older, you can withdraw your money when you want to and you won't owe any federal taxes.”

There are limits on the maximum you can put in, and that amount can change depending on who is the President of the United States. For instance, David Rae, CFP, wrote for Fortune magazine: “It is important to point out that the Roth IRA may become more valuable to you because of the new Trump Tax Plan. At least that has been the case for many people. Tax-free growth and tax-free income might be quite appealing to current and future retirees. At the same time, more money in your pocket to maximize today could be extremely tempting as well.”

How A Finance Expert Like You Can Perk The Interest Of A Reporter To Get Your Own PR

This was a trending news story. While attention may have moved on, the relevance is still there for a bit longer afterwards. Here’s how you can pitch yourself to a reporter who might be a good fit for this story:

  • Set the Mood: Mention in 1 sentence the story and the article at ProPublica. You don’t need to link to it in your email. That may trigger spam filters, and you want to save your link for a link to your own website. But you’ll want to remind the reporter about the story, or inform them for the first time.

  • Say What You’re Going To Do: Further the mood by telling the reporter what you are can inform them about, based on this article. The urgency here is that X number of Americans have a Roth IRA (bonus points for finding and including this statistic!) and don’t do anything with their Roth IRA. They are missing out on any free money, let alone $5 billion.

  • Love The Bullet Lists: Put in a bullet list the topics you can speak to. For instance: Kids who can start Roth IRAs now and get that early financial education and growth; Why starting a Roth IRA as a 50 year old may still be a good idea; How to work it into your strategy if you are already retired; Best retirement strategies to take advantage of if you have a low income; How the gears of a Roth IRA churn - how does this thing work and how can people tweak the levers to grow more money from it?

You got this, Small Business Friend. Even if you run a huge business, these strategies will work for you. Use Tin Shingle’s Media Contact Idea Center to browse names for which reporters or producers would be a great fit for this story. Use Tin Shingle’s Google Group to test your pitch on us. It’s the group of Members who can see your pitch and submit feedback. Feeling a little shy? Hire one of our PR Pros (Katie, Beth or Olivia) to review your pitch in private during a Private Training Session (discounted 25% with membership).

All of this can be yours with a Tin Shingle Membership.

Whatever You Do:

  • Don’t mass-pitch. Don’t send the email to a group of BCC emails. Now the media can see you are blanketing this pitch everywhere, and they may compete with each other for the same story angle.

  • Do include the reporter’s name in your email pitch. Personalize it!

  • Do change up points you are making to different reporters and producers. Their audiences are not the same. You need to do some work to make this pitch different.

  • Tin Shingle wants to hear from you! We share financial insight with our small business readers. Do include us in your pitching! Our audience is a diverse group of old and young creative thinkers who turn ideas into action. Our crowd are business owners, communication directors working for them, and PR professionals seeking to further their education.

Good luck!

Money Monday: Make That Paper - Change That Rate

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Make That Paper

When I was at my mechanic, spending money again on my little Audi wagon with a turbo engine that I won't give up, I noticed the picture of his rate sign, and took a picture. Notice the numerous scratch outs for rate changes over the years.

The first time I went to him years ago, I think it was $70/hr. Today, on top of all of those scratch-outs, which are possibly with white-out marker (does he need to hire us for print branding, possibly?). This day, it looks like it's $120 or $180. Can't tell. I don't care. I just pay the bill on my Old Navy credit card to get the free clothing points, and pay down the card ASAP so as not to lose the free clothing dollars to a 29% monthly interest rate.

The reason I don't care is because I can walk to his shop, which causes less time for me in my life with kids to get a car serviced, and I trust him. He in turn cares for me, gets my exhaust system replaced on my massive 4WD truck before a major snowstorm so that I can drive through the mounds of snow to the grocery store, etc.


What Does This Mean For Your Rate?

If you're struggling with a lot of clients or product sales right now, it may be time to look at your rates, and raise them. If you're too busy with not enough money, you might not be earning enough. Conversely, if you're getting zero business, it may be time to lower the rates. I know we are in a pandemic, and there is a lot of sensitivity to what people can afford right now, so lets get down some tips to consider:

  • Rates Can Always Be Special
    If you set your rate on your website (you do this if you sell products...it's our service-industry friends who don't always share their rates publicly), you can always make a private arrangement with a person who cannot afford that rate, but would be a great project for you and a good client fit. You can make the decision to lower your rate for them.

  • Raise The Rates; Bring Them Down
    Our rate has always been like the stock market. If we're really busy, the rates go up because we can't service everyone and put out original content. However, the rates can stay the same if we bring on additional team members to spread out the work. Building a team is an art, and requires nurturing. That in and of itself takes time. But builds a solid team which is very worth it in the long run for everyone.

  • Discounts
    Yes, even service-industry people can offer a discount! Who doesn't love a good sale? Your price needs to be flexible enough to absorb this discount. For instance, here at Tin Shingle, we offer a 25% Discount on services we offer, like Private Training. It adds value to the membership, and makes it easier to afford what you need.

  • Totally Slash The Price Whenever You Want To
    During the pandemic, I had a soft spot for restaurants and farmers. I watched my egg farmer get disconnected from her Farmers Market customers when the 100% shut-down happened last year, and as winter approached for her, I feared for her, being that she didn't have a website. Over at our sister media company, Katie James, Inc., we slashed our website price and designed her a website in Shopify that she can utilize from her phone, as she doesn't have a computer. Round of applause for the Shopify app! She is also getting training in how to use her Instagram, and will get Social Media Cards from us in order to quickly share a regular statement, like "FREE DELIVERY 7 DAYS!" or "SNOW DAY AT THE MARKET - ORDER ONLINE AND I'LL DELIVER"

  • Make It Easy To Pay You
    Credit cards. You need to accept them. If the credit card fee is holding you up, put that concern aside and build it into your pricing. Do not add a "Processing Fee" to your checkout, which covers that credit card fee, because that just frustrates a customer. Make it seamless. Take checks too! But get paid up front because you don't have time or a billing department to chase payments.

  • Communicate With Your People
    Caring for your clients and customers is the #1 best thing you can do for a lasting relationship, and production of great work. Make communicating with your clients, customers, and your own staff your #1 priority. Everyone is allergic to meetings these days, but having short and efficient ones, and sending emails responsively, will make a big difference. Especially during this time of isolation.

How Can You Pitch Something Like This To The Media?

If anything presented here sounds like something you can pitch to the media, do it! Tin Shingle has Media Contacts you can sort through, as well as a Google Group to send your thoughts to and get feedback from the group. Members of Tin Shingle get 24/7 access to these tools.

All I Want For Christmas Is A Bunch Of $0s: Zero Debt Balance

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Shopping and holiday gift giving this year took a turn for extra merry, as we have more permission and justification than ever to buy from our favorite businesses (local, small business, independently owned big business, even big box stores if you want to be able to walk around in them), in order to keep these businesses alive as scientists figure out the virus, and health care workers work on patients with severe symptoms. Your own marketing to your customers and future customers via your newsletter and social media is dialed way up right now, and you yourself are receiving the temptations and good ideas from everywhere.

But - the real life scenario for many people may be that their gift budget is super low right now. Business owners themselves may be down, like restaurant owners who have to drastically change how they serve customers, or dog walkers who have less clients now that owners are home. Some people are thriving in an unexpectedly strong industry. Some industries are tanking like hospitality, airports, move theaters, theme parks, etc, where flocks of people have been laid off.

The media industry is used to this - when flocks of people are laid off, like at Walt Disney Television Group as they restructure - the count is up to 32,000 employees by March 2021 of mainly resort and theme park employees - and the ending of Radio Disney after 25 years of production, which will end 36 people’s jobs.

No matter what your budget, it’s time to focus on debt, and rein it in to $0. Banks won’t like this - they love making money off of us from interest and late fee charges (fight those charges! you can request to refund them, especially mentioning COVID). If you actually have no budget, I want you to take a cheerful approach to paying down your credit cards to $0. This is your Big Goal. If you’re not out there buying a ton of gifts, and giving in to all of us marketers who are hoping that you will spend (and we really, really do want you to spend…it does save businesses!), you and I and all of us need to shift life from the Land of Debt to the Land of Cash Saved and Invested.

To be honest, I have no advice for you as to how to live with cash saved. Once you get $0 balances on all of your debts, you will need a mindset shift. You may be so used to operating paycheck to paycheck, you might continue spending all of it. Advice for this is in another article. If this is your area of expertise, pitch Tin Shingle with an article idea.

Pitching The Media With Money Ideas

Is this your area of expertise, as a money and finance expert? Did you accomplish this goal as a business owner and want to get publicity for it? These are all good ideas to do, and you’ll find a few ideas on who to pitch, and which outlets to get familiar with before you pitch, in Tin Shingle’s Media Contact Idea Center. Available to Members of Tin Shingle.

Some names you’ll find in Tin Shingle right now. Deep dive into them, and get a spark of an idea for how to pitch them! A pitch to a person like this will be different for each person. They have different beats and different passions. You’ll want to pitch a media publicity idea according to what sparks their interest for their readers, viewers or listeners. Need ideas on how to do this? Join Tin Shingle today, and start communicating in our Community Forum for direct conversations.

Tin Shingle was designed for business owners and creators who are getting the word out about their business, and need a sounding board, media contacts, courage and strength to keep putting themselves out there.

Kathryn Finney
Named by Inc Magazine as one of the most influential women in tech, Kathryn Finney has made her mark as an entrepreneur, social media visionary, “women in” advocate, investor, writer, and television correspondent.
Areas of Interest: Finance, Money, Black Women, Black Women and Money, Black Media, Investors, Budgeting

Carolynn L. Johnson
CEO of Diversity, Inc.
Areas of Interest: Black, african american, black american, African American Interest, Education, diversity, minority, school, Business, wealth building, jobs, Money, entrepreneur

Farnoosh Torabi
Financial Expert, Bestselling Author and Host of the Webby-Nominated Podcast SO MONEY.
Farnoosh Torabi is one of America’s leading personal finance authorities — hooked on helping you live your richest, happiest life. From reporting for Money Magazine to hosting a primetime series for CNBC and contributing to O, The Oprah Magazine, Farnoosh has become a favorite, go-to money expert and friend.

Hannah Rimm
Associate Editor, Money Diaries at Refinery29, Inc.

Kathryn Tuggle
Writer, HerMoney
Listen to her latest podcast with the author and investor, Bill Perkins, “Die With Zero: Getting All You Can From Your Money And Your Life”

Money Monday: Investing Cash Now From Kids Whole Life Insurance Dividends

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It’s Money Monday again here at Tin Shingle!

Today’s tip is a simple one, and focuses on the cash dividends from your kid’s Whole Life Insurance policies. Before giving the tip, let’s back it up to Whole Life Insurance in general, and having it for kids. There are many schools of thought, and not everyone will agree on if Life Insurance is a good way to go.

So here is where my position is rooted, and what I’m doing once signed up:

Whole Life Insurance For Kids

Years ago, at my kid’s day care, some life insurance representatives were there, offering candy and coverage. First impulse is to run away, very fast. But I talked to one who I felt comfortable with, and she said that the reason they suggest getting whole life insurance for kids is because they are usually healthy now, versus later when life happens, and they may have been in an accident or developed a health condition.

I went for it (not that everyone agrees with me), and my kids are covered for the lowest amount right now. I went for Whole Life because for me personally, I like investing the money if I’m paying life insurance. I’d like it to stay there. Verses Term Life Insurance, which you have for 20 or 30 years, and then it expires, and you start over. Like car insurance.

The thing is, 20 or 30 years from now, you may have different health conditions that impact the rate you pay. The other thing is, age alone is a factor. Every year that you age, the rate can get more expensive. So, once you start Whole Life, you pay that monthly (or quarterly or yearly) rate for that amount of coverage, and it doesn’t change. Versus Term, which is one rate for the 20 or 30 years, and then a much higher rate when you start over again.

Now with COVID, an actual pandemic happened, which increases health risks, so I am glad I started them in with Whole Life now. Their rate is locked in for the low amount of coverage I purchased for them, and if they want to add coverage years later, they can, without health tests.

Cash Dividends From Whole Life Insurance For Kids

With Whole Life Insurance comes cash dividends. Yay! Free money. This does not come with Term Life Insurance. Each year, the policy will accrue a certain amount of dividends. If you do nothing, the cash gets reinvested into the Whole Life Policy, and gives you more coverage in the policy.

Or, you can request to have the cash deposited into your child’s bank account. This goal is what prompted us to set up bank accounts for the kids in the first place. So that’s a good first step! Then with another request, you can have the insurance company direct deposit into their bank account. Benefits of depositing the money into the bank account versus the whole life insurance policy are:

  • Kids have the cash to reinvest into their own businesses.

  • Kids have the cash to pay the bill of this Whole Life Insurance policy! I pay the bill now, but soon, they will be paying. As little kids, they currently do jobs around the house to earn money, since they cannot legally be employed yet.

  • Kids have the cash to spend on what they want (not recommended).

  • If you lapse on the policy (meaning, you can’t pay the bill anymore and cancel it), then you at least got some cash. Strongly not recommended to think this way. Keep the policy. Earn enough and more to pay your bills.

Now, what your kids do with that cash once it is in the bank account is a different story. Once they have access to their bank account, that money can spill through their hot little hands quite quickly (am I right? you know the feeling with your own money?).

Help them set up spending allocations so that the dividend money grows in other ways.

TRIVIA: Boys accrue more of a % in dividends than girls! Just because they are a boy. Reason is, my agent tells me, is that boys tend to die earlier. Shaking My Head. Should be equal!

Life Insurance and COVID-19

Health is a price factor in buying life insurance, and is part of the theory to buying early. You’re more likely still healthy when you’re young. During this time in the pandemic of the coronavirus, how are people who test positive faring in the life insurance world? Is testing positive for COVID-19 impacting their rate?

Says Ed Petruska, a life insurance agent with the local agency Antalek and Moore in Beacon, NY: “The Life Insurance Companies will accept new applications from individuals that have tested positive for COVID-19 and have been tested negative for at least 30 days.” Ed continued by indicating that a person’s recovery is a factor: “If someone had a severe case of COVID-19 that resulted in long term damage as evidenced in their medical records, they could be declined and or rated (charged an increased premium). Being rated is not unique to COVID-19. I have several clients rated for such things as Diabetes or Bipolar Depression.”

Ed also alerted that there are travel implications to be aware of as well, especially around international travel.

Media Pitching Tip

If this is your area of expertise in any way - use your niche knowledge in this area to pitch the media with insight like this. Need help on how to pitch the media? That’s what Tin Shingle is here for! Either book a Private Session with us, or activate a Community Media Kit Membership and use our Community Forum to ask questions, and submit a draft of your pitch to our Pitch Whisperer Forum.

Money Monday: Reminders To Crush (and Have) Personal Financial Goals In 2020

Happy Monday, Business Owner!

You're crushing it to get the dollar to invest back into your business and pay yourself. This Money Monday, we're taking a moment to remember about investing into your future, and main sure you have a distant trail of debt, and not too heavy a load. We checked in with financial advisor Lena Rizkallah, a local to our hometown of Beacon, NY (woot!) who commutes between New York City and our small city-town. She has crafted some financial advice specific to entrepreneurs, business owners, artists and makers. Take a minute to reflect on her advice in her article here, and align your to-do list to make sure you're making these steps to a solid financial situation for your personal and business lives.

In Lena’s article, discover more about each of her recommendations:

1. Get out of debt—or at least get a handle on it!
2. Establish an emergency fund
3. Save well in a retirement plan
4. Hire a financial advisor
5. Get your affairs in order

Money Monday: Proceed To The Route

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When In Doubt…

Sometimes on a Monday, you get a message that knocks you off course.

That message might scare you. Freeze you. Capture you in doubt.

You made your list the night before, or hour before, and you knew what you were doing, but now you don’t.

For the rock that just rolled in front of you, blocking you from seeing the bright side of the goal you were moving towards, all you can see now are these questions:

  • Is it the right thing?

  • Will you succeed?

  • Will you earn enough money?

  • Maybe this isn’t the plan. Maybe you should drop it and pick a different plan.

Proceed To The Route.

You’ve made your game-plan 100 times.

You know what to do.

You know why you need to do it.

This is the part where you roll the rock away - or go around it - and proceed to the route.

Most of the time in life, you don’t know what is on the other side of your route.

You don't know how it's going to turn out. How the rules you think you know will change - in your favor. How you will get offers or ideas of different ways of doing things to make your dream possible.

This is the fun part of business. If you have faith in what you are doing, the solution of how to get what you need will present itself, and you may never have imagined it.

You think you know all of the answers, how everything will turn out, but you won’t. Surprise developments, re-routes and other unexpecteds will present themselves, usually paving the way for all to succeed.

When in doubt, proceed to the route, and keep going. Have faith.

Happy Monday. :)

Happy Money Monday! The Power Of Growth

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Happy Money Monday!

This Money Monday Message is dedicated to the primary caregivers in the house - the moms and dads whose businesses took a hit (or let's be honest - a nosedive) when the first kid came along. Your income may have tanked, or you may have done your best to maintain the status quo, and stay afloat - doing the day to day to keep those numbers the same.


Keep Looking At Those QuickBooks Reports

As you grow your kid-legs (aka sea legs), things get easier. Because you have less time to f*around making excuses for bad client behavior or lack of pitching for new business, you begin to tighten things up in your business department (or you threw in the towel completely, but since you're a reader of Tin Shingle, you're probably back in the game - YAY YOU!).

Look at your Gross year over year. If you take a salary, look at that year over year. If the number is low, that might be depressing to you. If that number has stayed the same, you have some work to do.


If That Number Has Grown...

But if that number has grown...if you took a salary of $6,000 one year, and $24,000 the next year, well that's some pretty impressive growth right there. While $24,000 in and of itself is far from the 6-digit number you’re going for, you can look at your percentage of growth and know that if you grew the business that much, you can spread your wings and do more.


PS: QuickBooks Has Helped With This Salary Growth

While this is not a sponsorship by QuickBooks (though we are channeling a partnership and do want them in our scheduled sponsor content for you), using QuickBook's Payroll at the full level has helped enormously with the cutting of payroll checks. The first payroll company we used was an old-school company that charged a big fee just to have it, plus a $45 fee to cut a check, and then a $99 fee to cut a check, and then a big old $157 fee for not cutting any checks at all during a quarter.

Having payroll even for just 1 employee has been helpful for avoiding incorrectly estimating taxes. But the favorite part is how easy it is to cut a payroll check any day of the week - even if it is sooner than the regular payday. If you need money now from your business, you don’t need to call 1-800-CASH-NOW, you can just cut a payroll check and have the money go where it needs to for taxes.

How can you not pay yourself as a business owner? Well, as a business owner, you may have another job, a supporting spouse, gifts allotted to you, dividend income, who knows. This has been written about before on Tin Shingle, the Crutch Syndrome, and you should go re-read it if you need a mindset shift in growing profitability in your business.

Meanwhile, have a great Money Monday, and go shake those money trees!

"Smoke 'em" Mentality: The Frame Of Mind You Need To Get 'Er Done

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Smoke ‘em

“I’ll smoke him,” is what I said to a friend after my friend told me that they had been talking to So-and-So, who told them that So-and-So was going to up his game in the website design space in a for-real way, rather than a side-gig way. I have occupied the website design space for more than fifteen years of my small business career, and I welcome anyone into that space, as it’s a fast and bumpy ride that needs really good management. Furthermore, there are a lot of fish in the sea, and website design shops with different specialties to accommodate different types and needs of clients.

But here’s the catch of this story. As So-and-So was telling my friend this information, he did so with an apology in his voice. Like: “Tell Katie I’m sorry, but I’m going to be doing websites in the neighborhood.” But because I understand my small business space, and my customer, I feel no fear of this competition. Normally I’d shrug this off, like: “Nice of him to show consideration, but he needn’t!”

But instead I said: “He needn’t be concerned! I’ll smoke him.”

I’m not normally that bold. But it felt good. I wanted to bottle it and use it again.

The core of this reaction happened because this newbie website designer had just crossed the Girlfriend Code Zone by doing something silly to one of my friends, so I was not in a sympathetic place with him. That feeling of utter confidence and clarity of his entering my competitive space was one I wanted to use again for a fight that really mattered.

The “Smoke ‘em” Mentality

The “Smoke ‘em” mentality gets us through a lot of scary things we need to succeed in. Could be a public policy shift. A public opinion shift. A real threat from a competitive business. Or even a threat from a client, or former client. A few years ago, I had a one-time advertising client tell me that if I wrote an article that showed him in a bad light, “You’ll lose me as an advertiser, m’dear.” Well, he wasn’t advertising at the time, so it was an empty threat, but veiled nonetheless. It left me speechless. Not that I cared for losing the business, but that I was spoken to so boldly.

There are other examples that the “I’ll Smoke Him Mentality” could apply to, in order to help someone handle a situation differently, with more effect. And it doesn’t only happen with men. Female business friends in my space who would be considered competition also make moves that are direct hits. You know my feelings now on being polite and apologizing. I’m over it.

The Huge Benefit Of Competition Moving In

There is a huge positive to competition moving in: whatever competition lights the fire under you, and whatever it is that you decide to do with that fire, is probably something you should have been doing anyway. You just had no motivation to do it. Or, you were so hypnotized by your day-to-day that the idea never occurred to you.

Let’s look at marketing strategies, for example. There are loads of different social media photos and videos you could be doing. Or much sharper pitches to the media that could land you a really cool feature. Or a blogging strategy you could start on your website in order to attract searches from Google. Sometimes this competition gives you clarity that was a long time coming.

Fire Lit

Now you see how the the “Smoke ‘em” mentality isn’t a malicious one. It is just a necessary one sometimes. You can be friends with someone, drink wine with them, enjoy their talents or sense of humor. But when you disagree on something, or a big shift needs to happen, you can summon your inner “Smoke ‘em” mentality to “get ‘er done.” Another one of my favorite phrases.

Women Business Owners: Play. Score. Repeat. Just Like The Women's Soccer Team During The World Cup

Photo Credit: Katie Hellmuth Martin

Photo Credit: Katie Hellmuth Martin

When I walked into my sunroom where the TV was on the day after the U.S. Women’s soccer team defeated Thailand 13-0 during the World Cup, I heard a group of talk show hosts on FOX discussing the appropriateness of the 13-0 score. FOX is broadcasting the Women’s World Cup this year.

What wasn’t mentioned in the seconds of the segment that I heard, was the previous year’s win of 9-0 the U.S. Women’s team had over Thailand. Or that it was the biggest blowout in history for men or women. Or that it broke the previous record of 11-0 win of Germany over Argentina in 2007. Or that “star striker Alex Morgan scored an astounding 5 goals to tie a long-standing record set by Michelle Akers against Taiwan in 1991,” as pointed out in this New York Daily News article. Or that in soccer, goals matter for a match tie breaker among teams and games played.

An article in The Washington Post by Steven Goff included many of these facts in his overview of the situation, and presented this concept: “The score also raised questions about whether the three-time champions needed to continue hunting for goals.”

Is There Room For Appropriateness In Hunting For Goals?

Hunting for goals is the name of the game. This isn’t a scrimmage. This isn’t a passing exercise. This is the World Cup. The whole point of the game is to score goals, not to apologize or hold back out of politeness.

In the article, defender Kelley O’Hara was quoted: “You don’t want to take your foot off the pedal because you want to respect the game and play them as you would play anyone else. It is a tournament. Goal differential matters. You can’t feel bad for scoring as many goals as possible.”

Turn Passion Into Profit - Is Appropriateness Factored Into Profit?

This reminded me of women in business, who are conditioned and encouraged to follow their passion. “Turn your passion into a paycheck,” is often how it goes. But winning, being a breadwinner, paying the bills, saving for retirement, aren’t usually part of the cliches in pretty Instagram quote posters. Instead, supporters on the home-front may show support, while at the same time, say things that condition a woman to hold back. Like any of these statements:

“If you have a storefront, will it suck you away from the family?”

“I don’t want to financially support a product you think you have, but don’t.”

“Why do you need an LLC (aka any business entity)?”

“The kids miss you.”

“Lower your fundraising projection because the other kids may not fund raise as much, and then you’ll stick out and it might make them feel bad.” (I actually said this one - fortunately my 9-yo daughter called me on it.)

Falling passively behind in our competence can happen easily, thus slowing down the business creation and growth.

Conditioning Women To Back Down Via Everyday Examples - Watch For It

The criticism that was being marketed on TV the morning after the game played right into the hands of casually conditioning women on how they should be in this world: Passive. Polite. To step aside. To step around. To not make someone feel uncomfortable. To not be bossy. Respectful to the point of deadness.

Couch Critics had typed into Comment boxes: “They should have let the clocks run out. I hope they slink home. I hope they don’t get paid what they are fighting for right now.”

Polite vs Getting The Job Done

When you’re on the field, as when you are engaged in the business you have created, you are running your heart out. All of your endorphins and adrenaline and smarts are pumping at their highest levels. When you have physically trained for this moment for years of your life, you are not going to step aside and say:

“You know what, I won’t score on you.”

”You know what? I don’t want to make you feel bad.”

”You know what? I’m sorry that your defense could be better. I’m sorry that you’re not as good as you could be in the goal. I’m sorry that your country hasn’t invested enough systematically into women to give you better coaching, encouragement, belief and motivation.”

”I’ll just bring this ball right to your goal, freak you out, and then kick it aside to my teammate. My teammates and I will just play pass-the-ball to each other on your end of the field until the clock runs out, which could be many minutes from now, which in sports, should normally stretch out into an hour, but because the those wanting women to be polite will be offended for you, we will make this game as unexciting as possible, doing nothing, except passing and dancing around you. And then we might get critizised for teasing you or showing off with our fancy footwork. And we might even get in trouble for not ‘showing up’ and competitively respecting the other team with honest goals.”

Wake Up, Women

You know what? This mentality is real, and is what keeps women down. It is spoken to women by other women and men, and by the most important person: one’s own self. It is what keeps women not growing their business into the successfully streamlined businesses they can be. Small or large businesses. Doesn’t matter. Women are conditioned to step aside and be polite.

When a woman shows aggression, when she shows success over and over again, the haters get jealous. Admit it. You’ve seen business creators in your Instagram, and you may have thought: “When will they stop? When will they give up? When will they stop showing this win with their latest new idea or feature in the media?”

Women’s Self-Sabatoge Mislabeled “Sportsmanship”

Women easily self-sabatoge, opting to pass the ball around the goal, and not score. Even if the scoring is easy. Even if with teammates and conditioned teamwork, the scoring, the executing of good ideas, the satisfaction of completing what is practiced after so many years of long weekends or long nights and Monday holiday work sessions, is successfully completed time and again.

Letting the clock run out and not scoring in a World Cup championship is not what athletes and professional teams do during championships. Letting the clock run out is not how you grow your business. Not scoring is not why you created this business.

Surround yourself with teammates who will condition what you need to get sh*t done. That could be increasing your profits. That could be planning your retirement. This could be growing enough that you actually step away and actually go on vacation. Because honestly, who wants to keep working from the beach? You want to lay out in the sun and play volleyball on the beach, and swim with the dolphins.

Let your business do this for you. Be a winner. Keep scoring. That is why you’re playing.