Digital Transformation: Survive and Thrive in a Era of Mass Extinction

by Fred Fuld III

Whether you are an investor or you manage a business, you need to read the book Digital Transformation: Survive and Thrive in a Era of Mass Extinction by Thomas M. Siebel.

In case you are not familiar with Siebel, he is the founder and CEO of the artificial intelligence software company C3. He was named Glassdoor Top CEO last year and is a three-time recipient of the EY Entrepreneur of the Year Award.

Siebel discusses in detail, but in easy to understand language, the digital transformation that is taking place in the business world.

He covers four major areas of technology, why they are important, and how they should be incorporated in businesses. The flexibility of elastic cloud computing, along with hybrid-cloud and multi-cloud is discussed. He also describes why all big data must be used with real time deductions that can be put into place.

Siebel covers the Internet of Things and how important it is to make all devices a computer. Finally, he talks about incorporating natural language processing, deep learning, and supervised learning in artificial intelligence.

Time is of the essence with digital technology. If you want to get on the bandwagon, get Digital Transformation. I highly recommend it.

WTF Is Happening: Women Tech Founders on the Rise

WTF Is Happening: Women Tech Founders on the Rise

By Nisa Amoils

              YOUR NEXT BIG INVESTMENT IS WOMEN-LED TECH

While technological innovation is exploding and female pioneers are making remarkable strides across a wide range of emerging tech fields, inequity remains. However, the exciting new book by veteran tech investor, Nisa Amoils, provides a new appreciation of the extraordinary strides being made in disruptive technology by female entrepreneurs who are building a new world.

In WTF Is Happening: Women Tech Founders on the Rise, Amoils profiles thirteen female founders whose remarkable work today will make a profound difference in the way we all live tomorrow. You will find candid interviews with innovative female entrepreneurs in which they share their experiences in their own words. However, from robotics and virtual reality to drone technology and autonomous flight, these women are receiving only a small fraction of the available funding, an inequity that harms both innovators and investors alike.

WTF Is Happening offers powerful, evidence-based stories about young technologies and industries in their infancies led by women paving a path into our future—women who will very likely outperform for their investors. Further, WTF Is Happening also highlights statistics that prove that companies with at least one female founder did a better job creating value for investors.

“I wrote WTF Is Happening simply to shine a light on some amazing women tech founders. I want to raise awareness and to encourage others to follow in their footsteps, because you can’t be what you can’t see,” says Amoils. “The good news for investors and students of STEM alike is that there were so many candidates for inclusion that I had a hard time narrowing it down.”

So, whether you’re a VC searching for new cutting-edge technology, an investor looking for opportunities outside of their usual network or a young woman who’s considering entering the STEM fields, WTF Is Happening is your invitation to help shape the future.

This book is an invitation to young women who may not have thought about working in STEM fields, or starting their own tech companies. It’s an invitation to female entrepreneurs and investors to see themselves and their partners reflected in the stories. Most importantly, this book is an invitation to investors who are seeking exciting companies, calling upon them to see the amazing world female technologists are creating.

Aside from the well-published social benefits to society, there are investment opportunities with women-led companies which are often under-shopped and undervalued. Throughout her career as a tech investor, Amolis has watched female tech entrepreneurs struggle for VC funding as the money flows elsewhere. Readers will realize, investors who aren’t looking hard are leaving money on the table. In it you’ll also discover:

  • The Gender Funding Discrepancy: why female entrepreneurs only received 2% of VC funding in 2018
  • Tech predictions for the next five years
  • Insider tips for stages of funding
  • 12 reasons why women aren’t going anywhere in the future of tech
  • Women Tech Founders offer the lessons they wish they knew to tomorrow’s STEM superstars
  • 5 key lessons for the future women leaders of tech from today’s female founders and innovators
  • The dynamic women making blockchain more accessible
  • How investors are leaving money on the table

 

For the past decade Nisa Amoils has been a venture investor primarily focused on new technologies. She is a former securities lawyer and on the Boards of several companies and institutions including Wharton Entrepreneurship. She writes for Forbes and Blockchain Magazine and is a regular on CNBC, MSNBC, Fox, Cheddar and others. Prior to investing, she spent many years in business development at companies like Time Warner and NBC Universal and worked with many startups  She holds a business degree from the University of Michigan and a law degree from the University of Pennsylvania. 

The book, WTF Is Happening: Women Tech Founders on the Rise, is available on Amazon and other booksellers. 

Blowing Up the Public Company Governance Model to Maximize Long-Term Shareholder Value

by Fred Fuld III

The book, Governance Arbitrage: Blowing Up the Public Company Governance Model to Maximize Long-Term Shareholder Value by Henry D. Wolfe is an interesting take on how publicly traded companies can improve shareholder value by improving their board of directors.

Does anyone remember the corporate raiders from years ago, such as Carl Icahn? They were looked on as the bad guys, at least by corporate management. However, their goal was not to just change the board of directors, their ultimate goal was to make that change in order to fully realize shareholder value.

Wolfe recommends that corporations use the private equity governance model for boards of directors, which would increase the value of the board and thereby increase the performance of the business, with the ultimate result being a growth in shareholder value.

Probably the most important chapter in the book is Chapter 5 Director Selection, where he describes how directors need to be chosen not only for their thinking-like-an-owner mentality but also for their investor sophistication.

If you want to know how the performance of a publicly traded company can improve and long-term shareholder value increase, I recommend you read Governance Arbitrage.

Happy Money

If you are stressed about money, or have any other negative feelings that are money related, you need to read the book Happy Money: The Japanese Art of Making Peace with Your Money by Ken Honda.

Many believe that money paves the road to happiness, but Honda explains how achieving happiness can be the goal and money will flow.

The book is filled with great advice, along with humor, that will keep you turning pages.

If you need to improve your relationship with money, you need to read  Happy Money.

Forging an Ironclad Brand

by Fred Fuld III

Do  you own your own business or manage a business? If so, do you have a brand? If not, or if you do and you’re not promoting it, you better read the book, Forging an Ironclad Brand: A Leader’s Guide by Lindsay Pedersen.

The author goes into detail, but in an easy-to-understand way, what a brand is and the reasons why you need a brand and need to promote it. She also shows how to expand, extend, and enhance your brand.

The eight steps she provided in the second section, The How of Brand, is probably the most important, with Step Number 2 being the critical one.

Figures and graphics are included to make the concepts more understandable. In addition, there is an extensive glossary.

Forging an Ironclad Brand is a book you will need to get for your business and refer to on a regular basis.

 

The Art of Preventing Stupid

If you own a small business (like me), or even run a medium size or larger business, you need to read the book, The Art of Preventing Stupid: How to Build a Stronger Business Strategy Through Better Risk Management by Matthew Neill Davis, Esq.

Businesses can’t avoid problems completely, but they can prepare for them and they can do many things to prevent problems as much as possible. Davis explains how businesses can do this, and one of the key ways is to avoid the stupid mistakes. The other strategy a business owner can utilize is to know how to deal with problems before they arise.

These strategies are covered thoroughly in the book. Probably the most important chapter is Chapter 6, The Preventing Stupid Method.

The book has many easy to understand tables and figures, and ends the book with actual case studies. In addition, the author provides bullet point summaries at the end of each chapter.

So if you want to prevent major problems (including bankruptcy) with your business, and how to deal with problems when they do happen, you should read  The Art of Preventing Stupid.

From Monk to Money Manager

“Money is not the root of all evil. Money is the root of everything, good and evil. Ignoring half the truth blinds us to the truth.”

From Monk to Money Manager: A Former Monk’s Financial Guide to Becoming a Little Bit Wealthy – And Why That’s Okay

Doug Lynam used to be a monk, and he’s now a financial advisor. He’s a sort of unicorn to most people, but that’s what makes this book so important. For too long religion and money have been held separate. But as Lynam says, “The cold, hard truth is that in this modern life we need money. We can’t live our lives and serve others without it.”

Lynam joined a monastery, in part, to escape the world of money and ended up spending more time worrying about money than almost anyone in the outside world because the monastery was going broke – and he had to fix it. Another irony, directly related to the first, is that he learned he is good at helping people with their financial problems.

The lessons Lynam learned as a monk made him realize that the most powerful way for him to have an impact in the world was to leave the monastery and advise people about their finances full time.

What makes this book different is Lynam’s unique background and experiences that have brought him to where he is today and the helpful mindsets he shares. This is a different kind of ‘financial book’ because of the connection of money problems to the personal and spiritual components. Lynam helps people uncover what those are to avoid them all getting tangled together.

Lynam wrote From Monk to Money Manager: A Former Monk’s Financial Guide to Becoming a Little Bit Wealthy – And Why That’s Okay (Thomas Nelson, March 26, 2019) as a mass-appeal book intended to hook adults of all ages, religions, and political persuasions because the discussion of ethics and money impacts you regardless of your beliefs. He believes the lack of money is the key driver for most of the suffering in the world, and if we can face that problem squarely, honestly, and with good minds and hearts we can mitigate some of the worst problems in the world.

More specifically, the book is aimed at anyone who wants to learn how to become wealthy while remaining an ethical person. Even more precisely it helps anyone who wants to:

•       Retire on time and with dignity
•       Live debt free
•       Pay for college
•       Stop living paycheck to paycheck
•       Afford quality healthcare
•       Own a home
•       Start a business
•       Conquer their emotional money baggage

Doug Lynam, author of From Monk to Money Manager: A Former Monk’s Financial Guide to Becoming a Little Bit Wealthy – And Why That’s Okay, is Director of Educator Retirement Services at LongView Asset Management in Santa Fe, New Mexico, is a self-proclaimed Suffering Prevention Specialist.

Every Woman’s Pocket Guide to Financial Sovereignty

by Fred Fuld III

If you are a woman who wants to learn all the basics about personal finance, it doesn’t matter what stage you are in life, you need to read It’s Good to be Queen: Every Woman’s Pocket Guide to Financial Sovereignty by Roselyn Wilkinson.

The book covers all aspects of money in an easy to understand format. Wilkinson doesn’t just describe the “what” and the “how”, she also gives the “why”.

The book details everything from budgeting, to insurance, to debt, to investing. Chapter 11 discusses the option of finding a financial advisor and how to find a good one.

Readers will also enjoy the humor of a few cartoons scattered through the book.

I recommend It’s Good to be Queen: Every Woman’s Pocket Guide to Financial Sovereignty by Roselyn Wilkinson to any woman who doesn’t have considerable knowledge about finance and money and wants to learn more.

How the 2017 Tax Reform Bill Impacts Small Business

Just in time for tax season, Eric Tyson, MBA, and author of Small Business Taxes for Dummies, reveals how the recent tax reform bill will impact small businesses this year and beyond.

          Hoboken, NJ (March 2019)—As a small business owner, you’ve likely always struggled to minimize your taxes and stay profitable. Now at last, there’s some good news! When the Tax Cuts and Jobs Act federal income tax bill took effect in 2018, it produced many changes that reduced and positively impacted small business taxes. With tax season right around the corner, it pays (literally) to know how this reform impacts your small business’s bottom line.

“All small business owners should be aware of how the recent tax reform affects their tax picture,” says Tyson, author of Small Business Taxes For Dummies®, Second Edition(Wiley, March 2019, ISBN: 978-1-119-51784-9, $26.99). “Not only do most of these changes signify good things for your tax return this year, but understanding them can help you strategize wisely for the future.”

What does the new tax landscape mean for you? Keep reading to learn how the Tax Cuts and Jobs Act will affect (and mostly benefit) your small business.

It reduces individual income tax rates. The Tax Cuts and Jobs Act slashed the corporate income tax rate from 35 to 21 percent, a 40 percent reduction. Likewise, individual income tax rates were also reduced under the new act. Most of the tax bracket rates were reduced by several percentage points. This is great news for the vast majority of U.S. small business owners who operate their businesses as pass-through entities (for example, sole proprietorships, LLCs, partnerships, and S-corps).

It allows a 20 percent deduction for pass-through entities. In redesigning the tax code, Congress rightfully realized that many small businesses operating as pass-through entities would be subjected to higher federal income tax rates compared with the new 21 percent corporate income tax rate.

To address this concern, Congress provided a 20 percent deduction for those businesses. For example, if your sole proprietorship netted you $60,000 in 2018 as a single taxpayer, that would push you into the 22 percent federal income tax bracket. But, you get to deduct 20 percent of that $60,000 of income (or $12,000) for the pass-through deduction, so you would owe federal income tax only on the remaining $48,000. However, this deduction gets phased out for service business owners (such as lawyers, doctors, real estate agents, consultants, etc.) at single taxpayer incomes above $157,500 (up to $207,500) and for married couples filing jointly with incomes more than $315,000 (up to $415,000). For other types of businesses above these income thresholds, this deduction may be limited, so consult with your tax advisor.

“This is a major change that has made small business owners exceedingly optimistic about being able to grow their businesses,” says Tyson.

It allows you to enjoy better equipment expensing rules. Through so-called Section 179 rules, small businesses have historically been able to immediately deduct the cost of equipment, subject to annual limits, they purchase for use and place into service in their business. But the 2017 tax bill expanded these rules. Now, more businesses can immediately deduct up to $1 million in such equipment expense annually (up to the limit of their annual business income). And, this deduction can also now be used for purchases on used equipment. These provisions, which don’t apply to real estate businesses, remain in effect through 2022 and then gradually phase out until 2027 when the prior depreciation schedules are supposed to kick back in.

It increases the maximum depreciation deduction for automobiles. The new tax bill included a major increase in the maximum amount of auto depreciation that can be claimed. The annual amounts of auto depreciation have more than tripled. Effective with tax year 2018, the maximum amounts that can be claimed are as follows:

Year 1: $10,000 up from the prior limit of $3,160
Year 2: $16,000 up from the prior limit of $5,100
Year 3: $9,600 up from the prior limit of $3,050
Year 4 and beyond: $5,760 up from the prior limit of $1,875, until costs are fully recovered.

These annual limits will increase with inflation for cars placed into service after 2018.

It limits your interest deductions. Effective with 2018, companies with annual gross receipts of at least $25 million on average over the prior three years are limited in their deduction of interest from business debt. Net interest costs are capped at 30 percent of the business’s earnings before interest, taxes, depreciation, and amortization (EBITDA). Farmers and most real estate companies are exempt. Then, effective in 2022, this provision actually gets more restrictive and would thus affect even more businesses. At that point, the 30 percent limit will apply to earnings before interest and taxes.

It reduces meal and entertainment deductions. The tax reform bill of 2017 eliminated the entertainment expense deduction for businesses. Under prior tax law, 50 percent of those expenses were deductible (for example, when a business entertained customers and even employees at sporting events, fitness clubs, and restaurants).

The new rules do include some exceptions. On-site cafeterias at a company’s offices and meals provided to employees as well as business meals associated with travel are 50 percent deductible. Meals provided to prospective customers as part of a seminar presentation are still fully deductible. Holiday parties and company picnics are also fully deductible as long as they are inclusive of everyone.

It eliminates the health insurance mandate. Since the Affordable Care Act (a.k.a. Obamacare) was passed by Congress in 2010, some Republicans in Congress vowed to repeal it. With the election of Republican Donald Trump in 2016, it seemed that the pieces were in place for Obamacare’s successful repeal. But, Republicans fell one vote short in the Senate when the late Arizona Senator John McCain gave the repeal measure his infamous thumbs-down vote.

So, the 2017 tax bill included a little-known or -discussed measure that eliminated Obamacare’s mandate effective in 2019, which required people to have or buy health insurance coverage, and if they didn’t, they’d face a tax penalty. So, the penalty tax also disappears in 2019.

It revises rules for using net operating losses. Net operating losses (NOLs) can no longer be carried back for two years. However, NOLs may now be carried forward indefinitely until they are used up. Previously, the carry-forward limit was 20 years. NOLs are limited each year to 80 percent of taxable income.

“Where business taxes are concerned, knowledge is always power,” concludes Tyson. “Learn how you can benefit from this long-overdue tax reform and use that knowledge to make more informed decisions. And by all means, take comfort in knowing that you have plenty of reasons to be optimistic about growing your small business.”

# # #

About the Author:
Eric Tyson, MBA, is the author of Small Business Taxes For Dummies®, Second Edition(Wiley, March 2019, ISBN: 978-1-119-51784-9, $26.99). Eric is an internationally acclaimed and best-selling personal finance author, counselor, and writer. He is the author of five national best-selling financial books including Investing For Dummies, Personal Finance For Dummies, and Home Buying Kit For Dummies. He has appeared on NBC’sToday show, ABC, CNBC, FOX News, PBS, and CNN, and has been interviewed on hundreds of radio shows and print publications.

About the Book:
Small Business Taxes For Dummies®, Second Edition (Wiley, March 2019, ISBN: 978-1-119-51784-9, $26.99) is available at bookstores nationwide and Amazon and other major online booksellers.

Tailored Wealth Management

by Fred Fuld III

The book, Tailored Wealth Management: Exploring the Cause and Effect of Financial Success by Niall J. Gannon is a guide for those who are interested in increasing their wealth, especially young people who can get a significant mathematical head start.

One of the most interesting chapters was Chapter 2 Average Americans: Stories of “Ordinary” Success, where Gannon gives real life examples of those who started with moderate incomes, such as a janitor, and eventually became multi-millionaires.

Chapter 6 covers the factors that can reduce wealth, and what you can do to avoid those factors.

The book has extensive easy-to-understand tables and graphs as backups for the many theories and recommendations that are discussed in the book.

I recommend Tailored Wealth Management to investors, especially young investors, who are looking to grow their net worth  and achieve their financial goals.