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An evening to you for joining us on small business Wednesday and warrants in an -- the best thing they had -- me this morning.
-- -- -- to someone you know it feels like Wednesday the selling Tuesday handcuffed like -- it is Wednesday.
And that kinda made me -- for pushing leaning closer to Friday we had a great show lined up for you today.
I really want to highlight something sweet little salty coming up at the end.
We think you're gonna like it and high eight.
Get sample it sorry don't but there's ways that you -- we'll talk about that later tempers wanna talk to Christie -- -- the CEO of the national association for the self employed.
Joining us from Dallas -- good morning.
Good morning how are you very good thank you so much for coming nine.
Think you OK so a lot of small businesses are obviously self employed right.
And out there are policies that the president congress -- put into effect that can help out the backbone of our economy.
Where you start.
At this -- -- -- -- that that the policies -- day we need to months.
Yeah well I think obviously one of them most important aspects that are policy makers including the president could do is to create.
A favorable environment friendly climate.
For small business creation and small business growth and to do that one of the biggest.
Efforts that they need to undertake is to reduce all those barriers that are out there to people.
Launching their own business a big issue obviously -- taxes we just say we're still dealing with a hangover of the fiscal -- to be.
But -- a lot -- issues pending when it comes to taxes and tax reform.
And that is a big component of why it potential entrepreneurs and current small businesses look at.
When they're planning for the future and deciding whether -- take those next steps in to launching their own business.
So the administration really needs to look at.
Focusing on and committing to working with the house and the senate on tax reform and trying to create a simple easy to comply went.
Tax system that will work for small business moving forward that's one of the first key steps the second step obviously is health reform.
We have a lot now the law is currently being put into it implemented at a 42014.
But there's still a lot of questions and so a lot of concern for the small business community.
And this is it was just a starting point there's no reason why we can't -- the -- to make it better and work for small business moving forward.
-- -- benefits and health care is a big issue for people who are thinking about starting a business as well as those in business many small businesses especially the self employed.
Don't have health insurance right now and we really need to make sure we have affordable health coverage options for them moving -- If we can't you know not to undermine the importing of the the health care law.
We still have some time before we get into that it seems like we have to deal with the tax issues first can you be a little bit more specific.
About what exactly aside from simplicity.
Hi in attacks could that small businesses in the south and would want to hear from the IRS in the administration.
-- well there are 22 million self employed Americans out there.
It's actually 70% of all small businesses are self employed so it's a huge demographic of the small business population.
And what -- the biggest issues is fairness in the tax code so often a lot of the tax provisions out there.
Are benefited towards the larger businesses a perfect example is deducting health care expense and it.
Those who are self employed or sole proprietors are -- able to fully deduct the cost of their health care.
Now the administration took -- lead on this effort by including a -- a one year provision in their former small business jobs act.
But that has expired and now the benefit is no longer -- available to the self employed.
While all of their businesses large and small who are incorporated get to fully deduct the cost of health care that's a huge issue for someone -- self employed who's trying to lower their tax liability and put more money into their business yeah understood that it.
And then of course you have just the issues of complexity.
We just got great news about the home office deduction the IRS and treasury decided to offer a simplified version of the deduction.
Getting business owners to work from their home a 15100 dollar standard deduction option which will save them 44 hours.
A tax prep time as well as a whole lot of money when the -- Remarkable that that one change and I don't know how hard it was for them to implement that -- it can save them 44 hours.
It's like two days where it could -- -- 44 hours at a lot of money.
And actually we have we yet the national association for the self employed work on that.
After for nine years it's -- -- nine years to make second nine years to make a small change in a tax code that will benefit 52% of all small businesses out there.
So really another issue is just the the slow moving nature of government.
And what we need to do to really improve efficiency and their ability and make decisions quickly that will benefit entrepreneur hours in the -- -- When you see is the next most immediate thing that.
Can actually be a positive.
What what are you working on now that you can -- -- -- in the next home -- tax -- out there.
Nine years -- -- looking -- and -- bush still pushing forward so allow for a self employment tax deduction on health insurance.
But another interesting program that the government actually has a framework for but hasn't encourage states to implement fully.
Is the self employment assistance program we hear so much about the number of unemployed Americans out there right now in our economy.
And there's actually an an avenue for those who are unemployed to start their own business it's called the self employment assistance program.
The Department of Labor has created a framework for it but only seven states have fully implemented.
And what it would do is it would allow people who are unemployed who qualify for unemployment benefits to actually take a a few months to get trained and get their business up and running.
Before they'd lose their unemployment benefits it would fault really encourage a lot of Americans out there.
To launch their own -- businesses but we really need to promote it and encourage states to implement this program.
As part of their unemployment I don't think that's already happening that more Americans are becoming self employed because they can't get jobs elsewhere.
Well interestingly enough in most down economic times we usually see -- spurt in on -- -- self employment because people.
CS an opportunity to -- launch into a new career option with limited job opportunities out in our economy.
However in this economic downturn policy makers extended unemployment benefits for so long.
That many Americans did a cost benefit analysis.
And they were concerned about the risky crime and decided to simply keep their benefits.
First is is launching a new business at this time so we haven't seen uptick in self employment like we usually do.
During down economic times.
Kristen are -- thank you so much for coming on gonna show -- web -- on the screen appreciate that and I'm just gonna go to a chat right now from isn't anyone listening.
Was kind of sums up -- the frustration that we all feel you included Christie and that's -- this administration issues anymore policies.
-- have to take the turn small business out of our vocabulary -- Thank you for chatting and thank you -- for joining us we're gonna go to great right now we'll be right back after this.
Welcome back everybody I'm Lawrence in an -- -- small business Wednesday and we're gonna have -- hopeful story for you now I'm joined by -- Patrick has -- Leon the CEO sage North America.
And -- -- is essentially company that serves millions of small business customers you yourself are in some ways a small business and you.
Got yourself through your own hard economic times going from red to black and you're in the shares.
Yes we we.
Winter agreeing prefer us his story into -- -- native and and it does and doesn't twelve.
In fact we realize that we have to change a lot of things no business to -- all -- all business on the customer needs and what the market listing us.
We chains operate and who the real rowing hopefuls for you which is -- -- -- -- from the product centric organization to a customer needs of an issue.
A lot of small businesses might want to know how you knew there was a problem was it at consists -- Sales numbers that we're struggling what wins the when did you first really realize it.
At this crucial and that's assess.
It's it's an addition to Sydney today it's between -- -- And -- done but it's bad that it's when I was asking employees what what -- what are we doing and they were not able to answer of course he's a question that's -- disconnect between the corporate communication.
It was it was saint heading into the customers -- -- disconnect between management.
Employees and customers exaggerate and then I do -- and out of schools on the sports center and who says people and what's -- was.
-- -- -- -- -- -- -- Hearing -- working in different people's.
And it sounds obvious but relentless and yes exactly mean that if you want to be in conflict wins you'll customers you have to spend time with your customers.
I don't know it -- the way.
But you do what -- is that true sooner than -- is that true -- -- you do that -- -- course.
To get social media activities as I don't know -- is today where you could monitor what consummate that it.
-- you want to that you but it won't -- you -- -- to date.
So -- Q tips clean out the ear -- and start listening out because the customers are your business Andy and actually made an implement changes based on what you're getting from them those surveys -- -- -- -- traction etc.
It seems so simple but at some minutes and easily ignore it you know I always seem to bring up JC -- And I just do this because it's a very recognizable name an iconic retailer.
Who had this remarkable fall from grace because of the strategy that didn't work.
-- -- get rid of sales have a sale every day.
And I don't think anybody like that strategy that they went with it for a whole year they don't listen to their custom yeah me me now they are but they took a whole year and huge dent in there.
Corporate balance sheet to figure out -- made a mistake.
I don't expect you to be able to talk about JC -- but is a year too late.
-- For sage hill to say -- it's.
I think I think -- will -- good shape but it's.
I think we had.
To promise in time that woods a recession doesn't 78 knowing intend.
And absent I would not listening customers that we shoot if it wasn't listening that we didn't.
And separate correctly what's a customer -- -- telling -- -- because.
You could listen doesn't mean that you'll respond it's two different things now that you won't you have to be willing to see.
What he's not it's what you want to see in fact because you want to see what is good.
You -- to see what is not -- do you.
Working very well and sometimes you have to make hard decisions yes you it's we are paid for that will pay to make hard decisions then and we think -- -- -- Yes.
I've mentioned that it's arrived just -- -- -- -- and and quickly we knew we win too but to a hunting gross.
Yes you you have to do that.
You have to do that and then obviously Asian is typically changing some -- which Intel -- in their quote doesn't -- We use to we have two million customers but we got fifteen different -- -- -- -- And you to not -- rage.
Fifteen different kind of runs in just in settlement I can't -- cut it -- two million customers and we knew I had to to decision to move to our single massively in which -- stage.
And that those points for new markets for 1520.
Years that two million customers.
-- thousand -- -- About 101000 people know Enqvist and -- -- -- content or -- senators.
Suddenly -- a lot of emotion when you won't just up a brand you have a lot of -- and we get to go to that yet was -- -- -- the decision.
And and would we did it I think what is very.
It's a quick queen I would say what is very reinsurance -- -- a lost Brent -- -- -- visit we've we've done a month ago.
Showing that we moved from 7% when awareness.
To a sixteen to someone awareness and how long in knowing moments -- Marco because we just two million customers left in median loses farm products that.
-- community is these mohawks and we could -- just community.
To speak about -- And I know they -- changing too much.
Food it's a good English student.
-- to quickly.
Put that you you have to look.
I'm sure you know is -- curve.
-- that's went winds of management and you.
Could be better to moral.
Look at where would Gooding and when you -- -- looking it's.
The big -- and just in front of -- -- -- move but his issue -- as the tub but there's a big big hole here and -- could really.
-- And and he's not just one in the company there's several G -- which is difficult.
You to show.
You have to explain to people is that things are getting worse because it get better.
You have to be transparent and honest because -- that when you change.
Is thought to break -- with people -- nominee.
And you don't you cannot expect that -- that wouldn't have to be better because you would you breaks away you would today.
You -- not unique swollen to prove that -- community that you need time and looking to make mistakes.
And you have to find -- queens who shows that we on the -- good torrent.
Thank you so much for sharing those tips especially -- success story -- you reinventing your.
Your business and it's working out for you and I just want to bring in February chat right now.
-- it it's kind of telling we outside chat what are the keys to success for small businesses in today's economy.
And isn't anyone listening said there are three keys and they are pray pray and pray with -- when all else spells.
Some and -- -- and cross your fingers -- for coming on did you limits.
-- and we are gonna go to break right now -- that kept us.
Welcome back everybody I'm Lawrence -- in -- now all this is what I -- earlier in the show.
Something that just makes life with a better -- That's simple -- talking to the co founders of a business that is all about bacon and they can only things that you never.
Imagine that they -- -- -- a vacant -- so let's welcome our guests and their treats that they brought.
It's almost lunchtime so thank you Wesley -- next to me and some Patrick Tillman.
Co founders of think -- Right and that's one kind of right -- -- -- which is exciting.
Still haven't you he kind of came up upon this idea by accident did.
-- chance to -- -- -- story yeah a little bit -- looking back at it and watching trends on TV you watch the transit newspaper.
You know I love breakfast -- dessert.
So you know -- -- as they don't love the passion of -- you know we know French toast -- them and they can you know like cookies and brownies.
What -- -- you start -- okay -- I'm asking.
Because I I noticed there was a -- milk shake -- one fast food chain.
And this sort of baking products really weird things is now let's -- out -- did you kind of see coming even -- -- well known that they need.
We actually started in the fourth quarter 2000 -- -- and west's has always had a passion for.
They can and and maple syrup and chocolate in those things right they're gonna I don't know awkward but.
He actually approached me about.
Doing -- merry the marriage bacon and baked goods.
Before any of that had started with a Jack in the Box -- milk shake and then Berger thanks Sunday.
That kind of thing.
And it's interesting is -- -- -- at this earlier worded it really start where's the trend come fall.
So you should be concerned you know -- -- -- trends in food especially will start either at the highest on the market -- the lowest that.
More in our case -- started at both.
So certain restaurants like that -- where.
Beacon wasn't in that it is it was actually record focusing greedy and in a -- whether it be a primary main dish or dessert and that's -- really started and then lower into the market.
Started coming up at the same time.
You know I asked myself the same question because with the drought in the midwest and just and so many weekend stories and the feedback that I get from just telling a story on bacon is an online you know like because I never I guess thought about it so much -- it -- it's very trendy.
And you say that this trend is gonna last typical trend.
Maybe three to five.
Here she she further perhaps.
Usually trend is in food is about three years of -- -- out and about five.
But when you -- at both ends of the scale and it's not over taking the market -- gradually growing within the market itself from.
And you look at what's going on with pricing with supply.
We're talking five to seven years at this point let's talk about pricing and -- and supply Big -- is expensive.
Now it is so proudly we were critical bunch of vendors that are out there are price of the very very.
In line OK you know we Adams and baked goods -- we try to keep -- not too high not too low -- -- You try to say local angry -- that -- stats have been a little bit.
I we do we're with a couple vendors that are local -- will Brooklyn cured never bring in reason was fund which comes from New Jersey -- so we do that.
So I found the we asked their viewers do you love -- and yesterday now -- -- thinks it's an easy question lets you that they said they mini yes and examine listening.
A tipping into you -- big gulps with their bacon products in the Big Apple.
-- -- idea and hang -- I think a big gulf with fake about it.
-- -- -- -- -- -- As -- ain't so Leon just interpret and.
We're actually in the process right now of doing -- -- so word in the first step -- -- -- -- processors weren't talking retail chains and -- -- stores this -- okay.
But he's started online or is that correct Tony and then you had your first ever store I mean even a second start coming later -- -- share.
I'm here I mean we start on line over here and half ago shipped all -- you know -- -- -- -- -- what -- just had a -- just -- -- the -- ahead.
You know bombs so we've seen if the market would really take off and it did and me we shipped out 2000 orders and in all Lewis and all over the US and Canada.
They just kept growing and growing and we got a lot of feedback and our fan base from FaceBook Twitter instruments kept growing.
Mars traffic to web site kept going up so -- like you know what let's open a store.
And -- we can do sort of an open for three months on the upper west side it's been doing great.
I have to ask.
Mayor Bloomberg China make New York City very healthy and -- and it's not healthy.
This question comes -- almost every single I -- -- talk about Baikonur it's funny.
To be honest with you they can actually isn't that bad for you if like any other indulgence.
As long as you do in moderation baking covered in chocolate that looks like nine but I do wanna try it right there.
That can't -- in Korea.
-- -- -- -- -- That style white chocolate covered bacon sprinkles that's.
Federal -- -- -- -- it.
How much is this just to play that.
-- -- plant that it's and that's actually below parity pressing.
That's an excellent price and you know -- anything that's.
To answer your question yes.
As long -- -- if it's Friday and it's drenched in oil and you're literally eating a strip that's just oil opinion of course it's bad for you but -- Any need any answer consumable good as -- -- -- -- upon.
Are you can't try to do that checking making an unhealthy forms and -- and you know I didn't think and the -- -- -- that -- My wife is vegetarian and she's actually watching right now subscriptions says you know it was better -- and -- us.
Yet she says to me one day and -- approached me about this concept and you because I I am not nor have a lot of business isn't.
My specialty is marketing and business developments.
Let me start talking about it I said to her.
How do you feel about mean you know from being part of an owner of bacon business and she looked at me like I had six heads -- said.
But will develop soy bacon -- -- -- can -- -- -- in Turkey and beef bacon now so we'll have a whole range for.
It's different application and how you develop their -- A lot of -- Myself from the bakers were very open to ideas we know -- -- you -- season what's what's happened and time and you know the time.
-- destroyed his back each other and whatever works we'll we'll try to create it and on Thursday -- -- tested in -- does well little actually I didn't for.
How many of solid and we need to explain that yeah so every night every night we do snacking and night's exciting night to the American achieve some inmates we do -- match capable.
-- -- united surprise night so this Thursday were making we did donuts couple weeks ago -- -- we'll don't know what they caramel glaze.
And bacon on top and it did really well election and try to ruled again.
The perfect fit and then you'll that sort of -- a few months craziest -- I don't.
Hanging -- tough -- a lot of fun stuff we do.
I just thought there most popular chocolate peanut butter cookies the dark chocolate -- does really well the brownies are -- So I mean every day everyone has unique taste and your favorites from the comment we have a lot of regulars -- men and we're doing vacant by the pound which -- -- -- -- You have to be worried -- This might be with -- throughout -- night about what happens when my little over bacon.
You don't that's why we're actually testing in the U.
New applications new types of bacon so that you can appeal to a broader audience -- But if you look at what's going on on the scale right now so the higher end of the market is starting to.
-- -- -- menu but they're not overdosing on.
Steve got a gradual climb.
And that's only -- for the last eighteen months in hand so usually when you look at food trends the peak.
Is when everybody's over saturating the market with messaging marketing materials.
And obviously adding more items to their madness a -- in our case we're actually very fortunate.
No one has done -- -- that they can -- because nobody has a singular focus like we do and right now we're actually rolling out tests for.
Traditional menu items like a bacon cheeseburger is an example so we're gonna start offering -- There.
And focusing on more traditional aspects of bacon consumption breakfast back we do waffles on the weekend so.
And you tell me what we've noticed that mean they can -- goes well breakfast lunch dinner and dessert right so -- and it.
And coffee and last question what they can -- reality there is this great OK last question -- -- -- any special shafts I don't.
No no -- right now we're actually in talks with the couple.
-- thank you so much some Patrick -- and Wesley Klein co founders of bacon Hank thanks -- bring him on something if you for having.
Enjoy great Satan really interesting concept I do a lot of the answer is I'm going to be and touched on -- in an Eddie thank you so much for joining us on small business Wednesday -- -- where.
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