Strategy 4 Saturday Blog (<4 minute read)
Tax Deadlines, Strategy Wins, and the Power of Mentors
As I wrote this blog, on the morning of April 15th, there was sunrise and the moon hadn’t quite faded in the sky, I was reminded of one of the all-time great movie sayings. “I love the smell of napalm in the morning.”
This is from an old movie classic about Vietnam where Lieutenant Colonel Bill Kilgore, played by Robert Duvall, said it in Apocalypse Now.
April 15 is D-day for accountants. And for every business owner, that is reconciliation day where you need to file taxes or at least your tax extensions.
Tax Season
The busy season was intense, and I loved the challenge. Now, I’m not saying that it was easy. But there is something truly satisfying that comes from mapping out a tax return and finding opportunities to save our tax clients money and/or resolve their compliance work.
Although, we have a broader team who helps us get everything done. I just want to take a moment to thank our Operations Director, Nick Cuddigan, for doing a great job serving our clients.
On that night, we’re celebrated the passing of April 15. In the near future, we will get together with our clients for our quarterly reviews, so we can serve them better, provide more knowledge and wisdom. We are really curious about the new tax code that will hopefully be coming into effect by the end of this year.
Prior to April 15th, Nick and I got together after the Masters tournament. It’s amazing to work together, to finalize some tax returns, and solve some issues.
There is nothing like having a trusted partner by your side to help get things done when times are tough. Nick, I appreciate you being there, not only through building 40 Accounting, but also from our early days, founding the Cascade Strategy US office.
(Image: Scott Ballard & Carl J Cox)
Not doing it alone
The biggest challenge of being at the top of an organization, a CEO, is the belief that you have to be chief everything officer. We are responsible for the strategies to get things done. Perhaps the worst part is not being able to share your concerns. You need to think from an outside and an inside the organization perspective.
We are seeing a lot of carnage in the marketplace right now.
The uncertainty of the tariffs is causing people to avoid making decisions, which is halting cash flow. As one brilliant investor said, “Water sitting still ends up becoming bad water.”
When I first started 40 Strategy, I was very fortunate to have coaches and mentors along the way to help me out. Today in particular, I want to focus on Scott Ballard.
Scott was there for me when I needed to talk about the vision I had for 40 Strategy. Not just starting the company up, but the long-term vision of how we were going to help companies and business owners to create value in their business. To help to give them the opportunity to exit their business, and perhaps the opportunity to sell their business, creating the wealth and freedom that they are looking for in their life.
Even With Challenges
But where Scott also excels is when there are challenges. When you’re struggling and you don’t know whether you have the confidence to get to the next step. This is what Scott Ballard does, he helps provide people confidence and faith in what they’re doing, to make a next-level decision.
We don’t normally single out partners, friends, and people that we work with. But I want to recommend Scott if there’s something you need right now in this challenging economic environment. If you want to talk about things on a deeper level, and not just about the business, but how you are dealing with it all. He has incredible insights and an empathy that he has grown immensely in his business in the past. I think you can gain insights from him.
Six years later, Scott and I are still connected by a strong bond. I always enjoy seeing him at our local Starbucks here by Top Golf, where we talk about everything from business, to family, and faith. It’s great to have a friend at any business stage, to lean on when you need advice.
To reach out to Scott, here is his contact information: Email or LinkedIn message.
Although we aired the final $4M Strategies podcast last Monday, you can catch up on episodes you may have missed. $4M Strategies Podcast
Stay tuned for some more exciting news from 40 Strategy soon! You’ve asked, we listened……
