Smallbiz America, a multi-media site for entrepreneurs and small businesses, offers a 24/7 streaming radio channel, a variety of podcasts, as well as blogs, forums and a marketplace or resources for entrepreneurs.
Outright's Kevin Reeth sat down with Smallbiz producer David Wolf, founder of music and audio production company, Crywolf Productions, Inc., for an in depth discussion of small business financial management and the foundation of Outright as the ideal solution for self employed business people:
"People start their own company, it could be a little side business, it could be quiting their day job to go pursue a dream, they're doing it to earn a living, they've got this passion, nobody does it to deal with the backoffice stuff. What's interesting is that most of these folks don't even call themselves small business owners, there is a lot of jargon in the industry, and they talk about SMBs and "Small Business" but the average self employed person, they say, 'well, I'm a web designed, I'm a doctor, I'm a taxi driver, I'm a dog trainer or a yoga teacher.' That's how they identify and that's why they got into the business. They didn't get into the business to BE a business and act like a business but the government forces them to comply as if they were significantly bigger.... The tax burden of the self employed people is 67% greater than their larger counterparts so the people who are least equipped to deal with this government burden, have to. Our goal was to remove some of that complexity; make it easier to pursue the American dream."
The Smallbiz Brains podcast features interviews with small business experts and leaders providing unique insights and sophisticated considerations for entrepreneurs. Kevin and David spent a moment considering the complexity of the Schedule C and how Outright helps business owners spend more time on their business.
"Need for the 20 million or so self employed people who file Schedule Cs to just simply get their records organized for tax time. And If you look at a Schedule C, it is a very simple form to fill out; the governments wants to know how much money did you have coming in and how much money did you spend in certain categories. And so what we've done is striped out all of the unnecessary things that comes with most accounting software and boil it down to everything that absolutely necessary to get your Schedule C done correctly and nothing that's not."
The number one cost when it comes to accounting and bookkeeping software, the biggest cost to a small business owner, is not the price but the time invested. Give a listen to Smallbiz Brains Kevin Reeth and David Wolf on the pursuit of simplicity in bookkeeping and pick up a few ways you can boil down your time invested to what's absolutely necessary.
