Most small business owners I meet love working with the people they do
From their employees to their clients and their vendors. Being in business for yourself is often full of meeting fun and exciting people - seriously it's one of our favorite things here at my firm
But if you think about all of the companies that you've worked for, that you've been a customer of, that you have been part of the supply chain for - can you remember the companies that have gone out of their way to acknowledge their gratitude for you?
I do - and there's not always a lot of them...
(I will say though I am beyond blessed to have some amazing clients, employees, and have worked for some amazing companies in my lifetime).
There's a disconnect between a lot of businesses and the people who make them who they are. And that is a problem...
BUT IT'S ALSO AN OPPORTUNITY
Read that again - where others fall short there is an OPPORTUNITY for you to take a step forward and come out as the business that will be remembered. And being the business that will be remembered translates to 👇
✨Higher Client Satisfaction & Repeat Customers
✨Better Employee Performance & Retention
✨Vendors that Go the Extra Mile When You Need Something a Little Extra
So HOW can you show those people your gratitude in a way that makes an impact and that is tax deductible? Here's some of our favorite tips:
✅If you are planning on giving your employees a bonus for the holidays why wait until the actual holidays? A lot of employees with family are buying gifts now and the extra cash flow can help them get better deals during black Friday, cyber Monday, and other sales
✅Normally entertainment in your business is not deductible and meals are not 100% deductible, but when it comes to things like holiday parties, meals during an employee training, or meals when your employees are working long shifts there are exceptions. The deductibility in a lot of cases changes to 100%!
✅Treat your employees like they are real human beings... seriously this is something that doesn't happen frequently enough! If you can build a culture of caring about your employees you'll get a completely different level of employees showing up and they will take your company to another level
✅ Handwritten thank you cards. Seriously - hand written cards from your company make an impact. I have one vendor that every year without fail sends me a holiday card handwritten by their staff. And I remember the simple gesture and the time it takes for them to coordinate that
✅Gifts are great - but remember there can be limits to those amounts that are deductible!
✅Businesses that go the extra mile to include a special touch in their service, their products, their delivery become memorable - and it doesn't take much outside of attentive client-facing staff
Attentive and caring staff can make a huge difference in your business... people remember when you show them gratitude and that alone reflects on your bottom line