The Newberry-Jonesville Chamber of Commerce strives to support both local businesses we have had for years as well as up-and coming businesses joining our community. The largest form of support NJCC can provide to small business owners is knowledge — no matter how much knowledge one has obtained through life and experiences, there is always an opportunity to acquire more. As the chamber began planning our first “Lunch and Learn,” we searched for a topic that would benefit everyone to be more knowledgeable in. And then, a lightbulb went on… finance.
“The person who does not know where his next dollar is coming from usually does not know where his last dollar went.” -Unknown
In theory, this quote seems to be common knowledge. In reality, financial budgeting is one of the biggest struggles for small business owners, the success of which is relied on heavily by our economy. Gainesville, Jonesville and Newberry are privileged to have a plethora of thriving local businesses, but none of them has reached success blindly. With greater knowledge, comes greater success.
On Tuesday, July 12, NJCC held the first Lunch and Leam, sponsored by Celebrate Primary Care, with speaker Dwight L. Hulse, chief financial officer of D.L. Hulse Consulting, LLC. The event provided a great opportunity to network with local business professionals, enjoy a delicious lunch from Copper Monkey and — most importantly — to leam. Nearly fifty individuals listened as Hulse provided insight into the seven most common mistakes that small business owners are making on a daily basis and presented valuable information on how to improve.
Finance, taxes and 401(k)s are topics of discussion that many people try to avoid almost as much as politics and religion. These topics are not avoided for fear of being offensive, but rather because they are topics that instill worry and stress. For this reason and many more, financial planning is not often a subject people are well-versed in. However, as a business owner, you will never reach maximum potential without it. Making money is the first step — discovering how to manage that money is how to become a truly successful business owner.
THE SEVEN MOST COMMON MISTAKES SMALL BUSINESS OWNERS MAKE
- Paying too much in taxes
- Not proactively managing and maximizing your own 401(k)
- Not having an investment strategy
- Thinking your investments are diversified when they are not
- Thinking you are protected when you are actually at risk
- Failing to plan to harvest your business equity
- Failing to work from a retirement or transition plan
The Newberry Jonesville Chamber of Commerce was proud to partner with member Dwight Hulse in order to help our small businesses learn, grow and expand. Find out what’s next in the event pipeline by visiting newberryjonesvillechamber.com.
JULIANNE RAYMOND takes on the volunteer position of Vice President for the Newberry-Jonesville Chamber of Commerce. She works with NJCC President John Hartnett and other board members in order to increase growth and sustainability for businesses in Newberry and Jonesville. NJCC ’s goal is to increase networking opportunities, direct representation to local government, and increase community involvement and economic development for local businesses. On a day-to-day basis, Julianne works as the Development Associate for the Epilepsy Foundation of Florida (efof.org), increasing epilepsy awareness and working as haven support for those affected by epilepsy.