WALLY AMOS:BE POSITIVE
Wally Amos is the
founder of Uncle
Company. You can
reach him at
She is focused on selling, not on not selling.
Equally interesting is the second character in
the book, who represents the customer. He is determined not to taste the green eggs and ham. He
consistently says no, even though he has never
tasted them before. He is determined not to have a
new experience. Sam I Am wins the sale because of
his persistence: The customer finally decides to test
the product just to get rid of the salesperson. In the
end, they both win. Sam I Am gets the sale and the
customer loves the product—a double example of
not getting stuck on no. The way to yes is to be
open-minded, because it leaves room for yes to
enter. Yes is always win-win.
By the way, this is an excellent example of the
power in children’s books. The Read it LOUD!
Foundation, which my wife, Christine, and I founded,
urges parents to read to their children for at least
10 minutes a day, from birth to 6 years old.
Reading to your children will help prepare them
to excel in a career of their choice, and everyone
will have lots of fun in the process. Give your children the gifts of love, language, imagination and a
promising future. Read to them. C
THE SMALL BUSINESS
gov) recently created a
Program to expand federal
contracting opportunities for
Participation by women
business owners in federal
contracting can be a lucrative
revenue booster. Two-thirds
of women whose firms do
business with the federal
government generate more
than $1 million in sales.
But it may take time.
American Express OPEN’s
survey of small-business
owners found it took them
nearly two years, on average,
to land their first contract.
So what do women
business owners need to
know to seek and obtain
government contracts? Here
are some tips from Lourdes
Express OPEN adviser on
• Explore the Small
certification programs and
become familiar with their
advantages in contracting
• Get your business
noticed by registering in
the Central Contractor Registration national database
www.bpn.gov/ccr) and add
your business to the Dynamic
Small Business Search.
• Do your homework:
Find out what the
government is purchasing
and work with experienced
Women get help with Fed contracts
No equals yes
THERE IS A GREAT quote that says, “Every no gets
you closer to a yes.” In reality, oftentimes, life is just
a series of noes. Ask any insurance salesperson. In
order to succeed you must be prepared to grow
through the noes you are bound to encounter. Let
me suggest a great training manual to prepare you
for the noes you are sure to meet on your way to
success: Green Eggs and Ham, by Dr. Seuss. I have
read that book hundreds of times, and it is the
greatest preparation you can have for a career as
First of all, Sam I Am is not the slightest bit
fazed by the constant series of noes he receives. He
simply offers the same item in a different package:
with a boat, with a goat, with a box, with a fox, etc.
A top salesperson never hears no. She listens to the
tone of voice and notices the mannerisms. Then she
makes a different presentation with the same item.
More in archives
On Costco.com, enter
“Connection.”At Online Edition,
search “Wally Amos.”
“Check-the-box” for tax savings
WHAT TYPE OF entity should your business be
to generate the most favorable tax treatment?
According to financial columnist Mark E.
Battersby, the so-called “check-the-box”
regulations allow business owners, managers and their advisers to reexamine
and change their status.
Not only can a partnership choose to
be treated as a corporation, separating the partners from the business,
but the members of those increasingly popular limited liability companies (LLCs) can choose to be treated
as either a corporation or a partnership
for tax purposes. Best of all, it can all be
accomplished by simply checking a box.
The check-the-box regulations
have completely eliminated the
arcane tax rules that historically governed business entities.
For federal tax purposes, under
the check-the-box rules, an entity that is a partnership or an LLC under the laws of the state in
which it is formed may elect to be taxed as a
regular C corporation or it can choose to be
treated as an S corporation. Businesses other
than corporations use Form 8832, Entity Class-
ification Election, to elect the desired and most
Due to a unique default classification,
a single-owner entity is taxed as a sole
income on Form 1040 Schedule C,
Profit and Loss from Business—unless
the owner specifically chooses to be
taxed as a corporation. Unfortunately,
incorporated businesses cannot take
advantage of the check-the-box rules.
Not all states accept the federal
check-the-box system. California, for
example, does not follow the federal tax
treatment of single-member unincorpo-
rated entities, instead treating such enti-
ties as corporations. Similarly, Florida
and several other states continue to
subject LLCs to entity-level taxation.
While those businesses operating
as a corporation or those desiring to
retain their current entity classification need not
take any action, all others may want to explore
with their tax adviser the potential tax savings that
can result for them—and their businesses—simply
by selecting another type of business entity under
the check-the-box regulations. C