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60 Life Lessons in 60 Years: A Guide to Winning in Business and Thriving in Life

Winding asphalt road through low country countryside at sunrise, symbolizing the journey of life and business with 60 years of wisdom lighting the way

As someone who recently celebrated their 60th birthday, with over 40 years of business experience, 30 years as a life mentor, and a decade as an ICF certified and accredited business and life coach, I’ve learned that success in business and fulfillment in life are deeply intertwined.

Today, I’m sharing 60 invaluable lessons I’ve gathered over the years to help you win in business and thrive in life. These insights cover everything from faith and family to finances and fun, providing a holistic approach to personal and professional growth.

60 Life Lessons for Business Success and Personal Fulfillment

Faith and Spirituality in Business and Life

  1. The best decisions I’ve made in life and business have occurred after spending time on my knees in prayer.
  2. Trusting God is a lot easier when you are out of options. Spiritual maturity is learning to trust God in all things.
  3. Starting the morning in prayer with an attitude of gratitude and thanksgiving sets the stage for a great day.

Building Strong Relationships

  1. You were not created to do life on your own; building and nurturing relationships is a wise investment that pays huge dividends.
  2. Never stop dating your spouse and doing the things that won their heart.
  3. Presents are nice, but time with family and friends are the best gifts.

Personal Growth and Self-Discovery

  1. It’s ok to not yet know what your purpose in life is. It’s never ok to not be pursuing what it is.
  2. We never drift toward positive or healthy things in life.
  3. Your twenties is a time for exploration and discovery. Don’t be in a hurry to know what you’re supposed to do in life.

Leadership and Professional Development

  1. The best mentors are those who have been mentored themselves.
  2. Being five minutes early communicates you respect someone else’s time more than your own.
  3. Ego and pride provide confidence and bravado in some circumstances but they can also be barriers that prevent people from getting to know you who you truly are.

Cultivating Gratitude and Kindness

  1. A handwritten thank you note communicates far more than just your appreciation.
  2. Kindness is contagious, be known for spreading it wherever you go.
  3. A random text or call to just let someone know you’re thinking about them and have prayed for them makes them feel special and reveals you are a good friend.

Embracing Life’s Simple Pleasures

  1. Don’t be so busy that you miss God’s handiwork on display… sunrises and sunsets occur daily, not just things to take in while on vacation.
  2. A casual dinner with friends at someone’s home is far better evening out at some busy restaurant.
  3. Impromptu slow dances in the kitchen and kisses say I love you in a language of its own.

Nurturing Relationships

  1. Never let a week go by without checking in with your spouse. A great question to ask is: “Have I done or said something which left you feeling unappreciated or didn’t convey to you how much I love you?”
  2. We were not meant to do life on our own… Hebrews 10:24-25 declares this, and I profess it’s true. Find your community… and then help each other thrive.
  3. There will be a time when you just don’t have the words to share with a friend who is experiencing heartache. But in the silence your presence will speak volumes about how much you care.

Personal Development and Self-Care

  1. It’s really true, on those days when you don’t feel like exercising, if you give it five minutes, 90% of the time you will accomplish your objective for the day.
  2. Not liking what you see in the mirror just means there is some work to do. Embrace it, create a plan to change what you see, and be willing to set aside your pride if you need some assistance.
  3. When you’re trying to determine if something should be part of your life ask, “is this ‘thing‘ hindering me or helping me become the person I want to be?” Once you have the answer… act accordingly.

Financial Wisdom and Material Possessions

  1. Many of the material things you think ‘you have to have’ will one day end up being sold at a garage sale or donated to a charity.
  2. Pursuing shortcuts and attempting to fast-track results rarely work in your favor. Put forth the effort, trust the process, and embrace the journey.

Time Management and Prioritization

  1. God’s Word teaches us to number our days. Focus on the people and things that matter most in your life and don’t dwell on naysayers or sweat the small stuff.
  2. Always have something on your calendar that you are looking forward to. And it doesn’t have to be a vacation, it can be time with a good friend.
  3. Make it a priority to spend your time doing things you enjoy, with people you enjoy, and figuring out how to do very little of what you don’t like.

Pursuing Passions and Purpose

  1. The best hobbies are ones that can be shared with others. This can be giving away what you create or doing things with people you enjoy spending time with.
  2. Cody Johnson’s lyric is spot on… if you have a dream chase it, because a dream won’t chase you back. 
  3. There will come a time when making a difference in life matters more than achieving success… the sooner this occurs the happier you will be.

Overcoming Challenges and Building Resilience

  1. Setbacks are inevitable, so when one occurs apply the five ‘R’s’ – Rest, Regroup, Recalibrate, Refocus, and then Relaunch.
  2. Losing or failing at something you try is inevitable… no one succeeds 100% of the time. But failure occurs when you don’t try or don’t apply the lessons learned.
  3. Don’t say, “One day you’ll do something’ for too long, because there will come a day when you won’t physically be able to do it.”

Fostering Trust and Integrity

  1. People will come to know who you truly are not by what you say, but by what they see you do.
  2. Honor all your commitments big and small, they build a foundation of trust and confidence that is appealing to friends and business colleagues alike.
  3. Always be kind and remember to say thank you to those serving you, they deserve it and it just might make their day.

Embracing Growth and Change

  1. Fight the urge to rush becoming who you think you are supposed to be… it takes time to discover the real you and the passion that lives within.
  2. Don’t be afraid to try new things, different experiences, and explore hobbies that interest you. Life gets pretty monotonous doing the same things year after year.
  3. Spiritual growth is a journey that never ends this side of Heaven.

Cultivating Empathy and Understanding

  1. I’ve rarely regretted giving someone the benefit of doubt, but I usually regret jumping to conclusions.
  2. A high percentage of people you meet in life have a burden they’re carrying. It may be something they’re carrying themselves or something they are helping a loved one carry. Be kind and empathetic.
  3. Giving someone the benefit of the doubt before they have earned it says a lot about you and your approach to life.

Balancing Independence and Interdependence

  1. Asking for help is not a sign of weakness, it signifies self-awareness.
  2. When you are in the midst of challenges, fight the urge to go it alone. God has placed people in your life to guide and encourage you, seek their counsel.
  3. A mentor won’t find you; you must find your mentors. Don’t know where to look… start with someone who has already accomplished what you want to do. And see if they will share their story of how they did.

Cultivating a Positive Mindset

  1. You will rarely have a bad day when you make it a priority to make other people smile and feel good about themselves.
  2. For many people it is harder to forgive yourself than it is to forgive someone else. But freedom is found when we cultivate a forgiving heart.
  3. Make sure the people you love also know how much you believe in them.

Maintaining Perspective

  1. Life is short. The days go slow and years go fast, prioritize building relationships over building wealth.
  2. Every marriage is comprised of two imperfect people. And the sooner those imperfect people learn the value of grace and forgiveness the happier they’ll be.
  3. A house will never feel like a home without people to share it with.

Embracing Authenticity and Transparency

  1. If left to ourselves we can rationalize everything and justify almost anything. This is why we need people in our life who will tell us what we need to hear and not just what we want to hear.
  2. Transparency leads to transparency, but someone has to go first… be bold, share your story and watch what happens next.
  3. Collect pictures and create photo albums, especially the ones handed down to you. They are filled with stories that should be preserved and shared.

Living with Intention

  1. The more clearly defined your core values are, the easier it is to make decisions you won’t regret.
  2. Fight the urge to keep a scorecard in your marriage with regard to household tasks. Things will rarely be equal. So, do what you can do when you have the margin and then work together to tackle the rest.
  3. No one is guaranteed tomorrow; so, never leave an ‘I love you’ left unsaid!
  4. “Divine Appointments” and “God Winks” await us each day, we must make sure we are not so busy or self-absorbed that we miss them.

Applying These Lessons to Your Life and Business

These 60 life lessons offer a wealth of wisdom for both personal growth and professional success. As a business owner or corporate executive, integrating these insights into your daily life can lead to more meaningful relationships, better decision-making, improved work-life balance, and a deeper sense of purpose.

At Tom Martin Coaching and Consulting, I can help you apply these life lessons to achieve your goals and find fulfillment. Whether you’re looking to scale your business, enhance your leadership skills, or find more balance in your life, I’m here to guide you on your journey.

Remember, success is not just about achieving goals, but about becoming the best version of yourself in the process. By embracing these lessons, you’re taking a significant step towards winning in business and thriving in life.

Ready to transform your business and life?

Contact Tom Martin today for a personalized consultation: . And learn more how these timeless lessons can help you achieve the success and fulfillment you deserve.

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Phishing Scam Targeting EIDL Loan Repayment

Attention Small Business Owners: Beware of Phishing Scam Targeting EIDL Loan Repayment

Small Business Scam Alert: Tips to Avoid EIDL Loan Repayment Scams, Tom Martin Coaching: Empowering Business Owners to prosper in business and thrive in life

Small businesses are currently under threat from a phishing scam aimed at collecting banking information and payments in exchange for a fake “SBDC Economic Injury Disaster Grant.”

This fraudulent email originates from: “apply@smallbusinessdevelopmentcenter.online” falsely claiming approval for a grant, but demanding a “tax clearance fee.” 🚨

It’s crucial to note that neither your local SBDC nor the US SBDC provides SBA grants or loans. The SBDC will never solicit your banking details or ask for payment for a grant or loan… ever!!

To safeguard your business from online threats, consider these essential tips recommended by the FTC:

✅ What to DO:

  • Obtain information regarding SBA loans directly from the official SBA website: sba.gov.
  • Seek guidance from your local UGA SBDC office if you receive a suspicious email: georgiasbdc.org/locations.

❌ What NOT to Do:

  • Pay upfront for information; all SBA grant and loan program details are freely accessible at sba.gov.
  • Provide payment in advance for a government grant or loan; no upfront payment is necessary for an SBA loan.
  • Disclose your information to unsolicited callers, emails, or texts. The SBA does not initiate contact to request information about you or your business, nor does it ask you to apply for a loan via phone, email, or text. Delete any suspicious emails or texts immediately.
  • Apply for a loan without verifying the lender’s authenticity. Only SBA-authorized lenders can offer loans, and you can verify lenders using the SBA’s tool.
  • Click on links or respond to emails or texts from unknown sources. Clicking on such links may expose your device to malware or connect you with scammers.

Stay vigilant and protect your business from potential scams by adhering to these guidelines.

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Embrace the Power of One Word 365: A Transformative Approach to Goal Setting for 2024

Thirteen years ago, I was introduced to One Word 365 when I read the book, One Word That Will Change Your Life. And to say that the book lived up to its title would be an understatement.

It wasn’t just the intriguing title that captured my curiosity, but the compelling promise within the introduction that convinced me to make the purchase:

“If we could give you one thing that would improve your life in incredible ways, would you receive it? And if this one thing was so intuitive and easy to use that you would be crazy not to try it… would you give it a shot?”

As December of 2010 rolled in, I found myself in a challenging period. The year had thrown various obstacles my way, both personally and professionally. While the dealership was thriving, my battle with Merkel Cell cancer, which had metastasized, required three surgeries and over sixty radiation treatments. The toll it took on me was undeniable.

My instinct was always to power through challenges, but cancer brought a different kind of exhaustion. That’s when “One Word” entered my life, and, reflecting on my state, I chose the theme for the upcoming year – “Pause.” Little did I know that 45 days later, I would learn of my cancer’s return for the third time, now with a stage 4 diagnosis.

For me, the word “Pause” under those circumstances became synonymous with transformation.

Since that pivotal year, I’ve introduced the concept of One Word to family, friends, and interested business and life coaching clients.

The consensus?

Adopting a One Word 365 mindset brought clarity, purpose, power, and passion. All of which served as driving forces that kept their vision alive for the next 365 days.

But how can something so seemingly simple be so effective?

The answer lies in the power of words.

Words, when used thoughtfully and intentionally, possess transformative power. They inspire, motivate, and energize. Words can heal, encourage, and turn the seemingly impossible into the possible.

The magic of the One Word 365 mindset extends its impact to the core components of life, what I like to call the Six F’s:

Faith, Family, Friends, Finances, Fitness, and Fun!

And trust me… there is a word out there waiting for you.

Are you ready to embark on the transformative journey of One Word 365 for 2024? If so, download a FREE COPY of my One Word 365 Workbook which walks you through the process of selecting a word for 2024!

one-word-365-workbook-tom-martin-coaching

Want to learn more… check out this video and discover the potential that lies within a single, powerful word.

You see, when a compelling vision is combined with a single word that describes a desired outcome with laser-like focus… transformation occurs!

Here is a link to order your own copy of One Word That Will Change Your Life book! 

 

As you can see from the image above, I’m still contemplating what my One Word 365 for 2024 will be. That’s ok, sometimes it takes time! Check back next week, and I will post my word along with why it is important to me for 2024. 

And if you need some assistance getting started with One Word 365 for 2024… let’s chat!

Wishing you a happy, healthy, and prosperous 2024! 

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Don’t Waste Another Day – Discover How to Get Out of a Rut Once and for All

silhouette of man lost in thought, stuck and in a rut, looking out over downtown Atlanta skyline at night, tom martin life coach and business coaching Roswell Georgia

I’ll admit it… I was in a rut.

I had just returned from a great two-week vacation in Hilton Head Island where we were able to spend time with both sides of our families.

But when I returned, it was as if I left my mojo at the beach.  

Everything seemed to be a struggle…

  • Two new coaching clients that I was excited to start working with put things on hold until 4th quarter.
  • An exciting opportunity for a non-profit I’m a board member of fell through in the final stages of the due diligence period.
  • I was behind my timeline for having materials ready for the launch of my Leveraging Life Now mastermind group.

I could go on, but you get the picture, everything was a chore, and little was working as I had envisioned.

  • Have you ever been there?
  • Have you ever felt that way?  

The one thing I knew was that something had to change… me and my mindset!  

Fortunately, this wasn’t the first time, and I had a bit of experience on how to break free of a rut. Here is my strategy, what I call the A,B,C’s + a “D” on how to get out of a rut! 

Acknowledge your feelings…

The first step to getting out of a rut is to acknowledge that you’re in one. This can be difficult, but it’s important to be honest with yourself about how you’re feeling.

Be curious about yourself and what’s missing…

Once you’ve acknowledged that you’re in a rut, start to ask yourself some questions about why you’re there. What are the factors that are contributing to your situation? What are you afraid of? What are you holding yourself back from?

Create a plan…

Once you have a better understanding of the reasons for your rut, you can start to create a plan for getting out of it. Start with small, take baby steps at first that provide traction and create momentum. And make sure your plan features specific, measurable, achievable, relevant, and time-sensitive steps.

Don’t go it alone…

Getting out of a rut isn’t always easy. The human brain gets stuck in its ways. It can be difficult to hold ourselves accountable. Friends and family are often supportive, but they don’t always provide the push we need when we’re stuck in a rut. 

Interested in Drilling Down a Bit Deeper?

Here are some specific actions you can take to get unstuck and break free of a rut:

  • Set small, achievable goals. When you’re feeling stuck, it can be helpful to start with small, achievable goals. This will help you build momentum and make it less daunting to start making changes.
  • Break down big goals into smaller steps. If you have a big goal that you want to achieve, break it down into smaller, more manageable steps. This will make it seem less overwhelming and more achievable.
  • Reward yourself for your accomplishments. When you reach a goal, no matter how small, take some time to celebrate your accomplishment. This will help you stay motivated and on track.
  • Find a support system. Having a support system of friends, family, or colleagues can be helpful when you’re trying to get out of a rut. They can offer encouragement and support when you need it.
  • Don’t be afraid to ask for help. If you’re struggling to get out of a rut on your own, don’t be afraid to ask for help from a therapist, life coach, or other professional.

Getting out of a rut takes time and effort, but it is definitely possible. By following these tips, you can start to break the cycle of stagnation and create a life that you love.

Here are some final thoughts to help you avoid any future ruts: 

  • Take care of your physical health. When you’re feeling healthy and well-rested, you’re better able to cope with stress and make positive changes in your life.
  • Spend time with loved ones. Social connection is important for our mental and emotional well-being. Make time for the people who matter most to you.
  • Do things that you enjoy. Make time for activities that make you happy and fulfilled. This could be anything from spending time in nature to reading a good book.
  • Challenge yourself. Stepping outside of your comfort zone can help you grow and learn. Try something new, even if it scares you a little bit.
  • Be patient with yourself. Change takes time. Don’t get discouraged if you don’t see results immediately. Just keep moving forward and you will eventually reach your goals.

And don’t forget to Count Your Blessings!

Reflecting on the good things in your life, big or small each day is a powerful activity which helps us avoid ruts. And when you do this daily (I prefer in the morning before getting up) it will shift your perspective and you’ll feel more grateful and positive throughout the day. 

I hope these suggestions and practical tips help you get out of any rut you might be experiencing and put you on the path of creating a life where you both prosper and thrive!

Tom

Looking for additional resources…

Check out the Secrets to a New Life where Ed Mylett talks about how burnout, fatigued, and feeling overwhelmed are all symptoms of a much bigger problem that needs to be addressed. 

Secrets to a New Life Podcast on How to Get Out of a Rut from the Ed Mylett Show

Click the Image to Listen

Spend 20 minutes with Peak Performance Expert Ed Mylett and listen as he reveals the “disease” that is causing these symptoms and shares practical steps on how to get back on track! 

Or perhaps you are moving out of your rut but unsure what to do next… here are 3 Things To Do When You’re Unsure What To Do Next. 

Picture of a person unsure what to do with two arrows pointing the opposite directions

 

 

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Connected is My One Word for 2023

My One Word for 2023 is Connected, Tom Martin Coaching

Happy New Year to all of you, and I truly hope 2023 is off to a great start!

As I mentioned in my previous One Word 365 post, every year I choose a word to be my theme for the year. This word serves as a focus, a north star if you will, that helps me live next twelve months intentionally and with purpose.

Initially, I thought my One Word for 2023 would be “connection” … but as I worked through the action planner and prayed over the New Year it was clear that my One Word 365 for 2023 needed to be “Connected”.

I’m developing the game plan for how I plan to Live Out my word Connected. But I can already tell it will involve some planting and pruning.

  • The pruning involves removing certain things from my life that would keep me (the looking back in the action plan reveals this) from being connected to what matters most to me in 2023.
  • The planting consists of adding new disciplines and incorporating new behaviors which allow me to be connected to the people, the organizations, and the causes that matter most to me in 2023.

But know this…

Living out your One Word is a journey!

The One Word 365 journey is much like planning a trip to a place you have never been before. You start by asking yourself questions about the things you want to experience while you’re there. And continue to ask questions the more time you spend in that place.

For me the questions I’m asking myself at the beginning of my One Word 365 journey look like this:

Who and what do I need to be connected to at a deeper level than I currently am in 2023?

What are the things, and maybe even people, that I need to be dis-“connected” from in 2023? 

I will use personal, business, and spiritual goals and objectives as a guide to help discern what these are.

  • But I can already say technology is on my list. At certain levels and in certain cases technology is a great mechanism to do more and achieve much. But technology can also be an impediment that distracts attention, derails momentum, and can lead to isolation.

Speaking of isolation…

A high percentage of people these days are experiencing feelings of isolation, loneliness, and a lack of authentic community. And there are not any societal, cultural, or economic barriers to these feelings.

This can especially be true with business owners who hesitate to bring problems home to their spouses. They don’t want to share concerns with employees who look to them to have all the answers. And high percentage are hesitant to talk to fellow business owners when facing challenges for fear they may lose the respect of their peers.

Another question I’m asking is, how can I facilitate business owners being connected with each other?

  • Something that would end isolation, and open the door to conversation and collaboration in meaningful ways.

Giving Back…

Another area of personal interest and something I’m involved with and serve in, is men’s ministry.

At the church level, I have served as a Re:New mentor. This involves meeting with guys who are in the midst of a crisis, be it life, career, or faith. Or it can men on the other side of the crisis with questions about how faith and God factored into what they just experienced. I’ve also served as a small group leader for men’s groups and with my wife in couples’ groups.

At the faith-based organizational level, I serve on the board of One Thing Ministries. One Thing Ministries operates One Thing for Men, a weekly men’s group Bible study. We meet on Fridays in Alpharetta Georgia but we have a global reach with the One Thing for Men YouTube channel and the sharing of all our Bibles study resources.

A question I’ve been wrestling with is, why are those doing men’s ministry around Atlanta not “connected”? 

  • There would seem to be great value in being connected as brothers in Christ to facilitate the exchanging of ideas, possibly sharing or co-opting of resources, cross promoting each others events, and a host of other things. 
  • And if there already is some association, do I just not know about it? Is this something I might want to be connected to? Or is this something that should be created? I don’t know but check back and I share what I learn during the year.

Ultimately, for me in 2023…

Being connected is about relationships!

It’s about investing my time going deeper into the meaningful relationships I’m blessed to have. And it also about investing my energy serving in and creating environments where relationship can develop and thrive.

How about you?

What is your One Word 365 for 2023?

Leave your One Word in the comments and feel free to share why this word is your focus for the upcoming year!

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One Word 365 for 2023

One Word 365 for 2023 image with picture of book cover to One Word That Will Change Your Life - Tom Martin Coaching

Twelve years ago, I read the book, One Word That Will Change Your Life, and to say that the book lived up to its title would be an understatement.

I think is it was the title that captured my curiosity. But it was the promise within the introduction that compelled me to purchase the book:

If we could give you one thing that would improve your life in incredible ways, would you receive it?

If this one thing was so intuitive and easy to use that you would be crazy not to try it, would you give it a shot?

It was December 2010 and I found myself in a bit of a funk. The year had been filled with challenges, both personal and professional.

The dealership was having a great year, but battling a rare form of cancer that had metastasized, three surgeries, and over sixty radiation treatments had certainly taken its tool.

My nature was to power through obstacles and challenges when they appeared in my life or arose in my career. So, when cancer was introduced into my world, I took the same approach. But in doing so, I was exhausted.

So, after reading One Word, and considering my current state of exhaustion, the one word theme I chose for the upcoming year was “Pause”.  But little did I know, some 45 days later I would find out my cancer had returned for a third time, with a stage 4 diagnosis.

The word “Pause” for me, that year, under those circumstances, was transformation!

Since then, I’ve shared One Word with family, friends, and in my coaching practice. And most would say that by adopting a One Word 365 mindset, they found clarity, purpose, power, and passion. All of which were driving forces that kept the vision alive for the next 365 days. 

How does something that sounds so simple, work so effectively?

Words are powerful!

When words are used thoughtfully and intentionally, they have the power. They can inspire, motivate, and energize. Words can heal, encourage, and make what seems impossible… possible.

The simple power of the One Word 365 mindset impacts the key components in your life. Something I refer to as the Six F’s: Faith, Family, Friends, Finances, Fitness, and Fun! 

There is a word out there for you!

If you’re ready to get started with One Word 365 for 2023… watch out this video!

You see, when a compelling vision is combined with a single word that describes a desired outcome with laser-like focus… transformation occurs!

Here is a link to order your copy of One Word That Will Change Your Life! 

A list of the words Tom Martin has selected over the years to kick off the New Year as part of One Word 365.

As you can see from the image above, I’m still working through the One Word process of deciding what my One Word 365 for 2023 will be. But check back next week, and I will post my word here along with the reasons why “this word” is important to me for 2023. 

And remember, if you need some assistance getting started with One Word 365 for 2023… let’s chat!

Wishing you a healthy, happy, and prosperous 2023! 

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Covid-19 Relief Initiatives for Georgia Business Owners

covid19-relief-initiatives-small-business-loans-grants-ppp-update-roswell-georgia-tom-martin-coaching

There seems to be optimism in the air with news of the number of coronavirus cases falling and greater access to vaccines.

Unfortunately for many people this is still a difficult time, especially a high percentage of small business owners who faced a disruption of epic proportions to their businesses. 

Here are the latest Covid-19 relief initiatives available to small business owners in Roswell Georgia and the surrounding counties. 

Roswell Georgia Business Owners… 

roswell-georgia-covid19-relief-initiatives-small-business-tom-martin-coaching

During the February 22nd city council meeting, the mayor and city council members approved the COVID-19 Relief Assistance Program for residents and small business owners who have experienced financial hardships as a result of the COVID-19 pandemic.

The program will help residents in need to pay living expenses like mortgage/rent, utilities and childcare. It also supports local brick-and-mortar businesses struggling to stay afloat due to the pandemic.

The city has allocated $800,000 to this program — $400,000 is available to residents in need of assistance, and $400,000 is available to Roswell small businesses. To qualify, applicants must meet specific criteria.

These Grants Do Not Have to Be Paid Back to the City!

Residents and business owners will be able to apply during the open application periods for each program by visiting www.RoswellGov.com. 

For business owners there is a short window of time to apply. And the application period for the Small Business Relief Assistance Program will open March 8 and continue through March 22, 2021.

Metro Atlanta Counties…

comcast-rise-logo-covid19-relief-initiatives-small-business-tom-martin-coaching

Comcast Rise is a commitment to support small businesses who have been hit the hardest by the economic impact of the pandemic. The Comcast RISE Investment Fund provides monetary grants to help Black, Indigenous and People of Color (BIPOC)-owned, small businesses grow as they navigate the challenges of the pandemic.

Open to businesses in Atlanta, GA (Cobb, Clayton, DeKalb, Fulton, and Gwinnett Counties) 100 small businesses will receive a $10,000 monetary grant. The application period is March 1-14, 2021.

More details can be found here: https://www.comcastrise.com/

Is PPP3 for Me?

In order to reach the smallest businesses, SBA will offer Paycheck Protection Program loans to businesses with fewer than 20 employees and sole proprietors only from Wednesday, February 24 through Tuesday, March 9, 2021

The latest round of Paycheck Protection Program (PPP) funding represents a marked improvement compared to the prior round.

  • The share of funding going to small businesses with fewer than ten employees is up nearly 60%
  • The share of funding going to small businesses in rural areas is up nearly 30%

Remember the deadline to apply is March 9, 2021. So, if you’re planning on moving forward here are two actions to take today!

  1. Find a lender:
  2. Identify a loan:
    • First Draw PPP Loans: If you have not received a PPP loan before, First Draw PPP Loans are available to you.
    • Second Draw PPP Loans: If you have previously received a PPP loan, certain businesses are eligible for a Second Draw PPP Loan.

Additional information, tools, and COVID-19 related resources can be found using the following links:

SBA Coronavirus Relief Options – Comprehensive list includes:

  • Payroll Protection Plan (PPP)
  • Covid-19 Economic Injury Disaster Loan (EIDL)
  • Shuttered Venue Operators Grant Program (SVO GP)
  • SBA Express Bridge Loan
  • SBA Debt Relief
  • Cross Program Eligibility

Georgia Chamber of Commerce – Scroll to the bottom of the page for a list of programs and safe workplace recommendations.

SBA Coronavirus Relief Options – Comprehensive list includes:

  • Payroll Protection Plan (PPP)
  • Covid-19 Economic Injury Disaster Loan (EIDL)
  • Shuttered Venue Operators Grant Program (SVO GP)
  • SBA Express Bridge Loan
  • SBA Debt Relief
  • Cross Program Eligibility

Georgia Chamber of Commerce – Scroll to the bottom for a list of programs and safe work place recommendations.

Well, that is it for now regarding the Covid-19 relief initiatives for small business owners.

Please feel free to reach out if you have questions or if I can help you or your business!

And don’t forget to continue to support your local small business community… it is making a difference!

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What Business Owners Now Know About Their PPP Loan Forgiveness

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On Friday, May 15, 2020, the SBA released new details on loan forgiveness for Paycheck Protection Program (PPP) loan borrowers. Also included in the release was access to the application that PPP borrowers will use to apply for loan forgiveness and detailed instructions on how PPP loan borrowers should fill out the application.

This SBA application form and instructions are designed to simplify the process from borrowers and to minimize compliance burdens. However, there are gaps. And the SBA plans to issue regulations and guidance soon to provide further help to borrowers as they fill out their applications, and to give lenders guidance on their responsibilities.

Concerns…

The forgiveness application form does help address some administrative items such as providing additional clarity around “costs incurred but not paid” during the covered period, which is aligned with a recommendation by the AICPA. However, major issues remain. In particular, small businesses need flexibility on when the 8-week period should start or need to have the covered period extended to more than 8 weeks.

It’s clear the application form and instructions provided yesterday are not enough. Some of the most pressing issues are not addressed and in other areas it appears new questions have arisen.

Erik Asgeirsson, President, and CEO of CPA.com, the AICPA’s business and technology arm.

Ultimately this is an important starting point for PPP loan borrowers to know what to expect moving forward.

A Good Start…

The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:

  • Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles.
  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan.
  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness.
  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30.
  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined.

I recommend business owners review the application and the instructions to ensure they understand the criteria for PPP loan forgiveness. Any areas of concern or questions should be addressed with their CPAs, bankers, and financial advisors prior to completing the application.

Additional information, tools, and resources can be found using the following links:

SBA Media Release

PPP Loan Forgiveness Application

PPP Loan Forgiveness Calculator

SBA Information and Resources

Additional Information and Resources

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The Latest Information and Resources Business Owners Need to Know During COVID-19

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The business community is reeling right now thanks to COVID-19. And while initiatives are being implemented to provide some relief, small business owners are facing unprecedented challenges.  

But the rollout of so many programs on both a federal and state level is complex and complicated. And local business owners are telling me they don’t know where to turn for up-to-date information and resources they can act on right now.

In an effort to help, I have created a COVID-19 quick reference guide for business owners. Download this interactive list of information and resources business owners can use to successfully operate their business during the coronavirus crises.

Note! Information will be updated as actionable information becomes available, so check back often.

***5:00 PM April 1, 2020*** Georgia Govenor Brian Kemp just issued statewide Shelter-in-Place order that will go into effect on April 3rd.

***Update on Friday, April 3rd*** The Georgia statewide shelter-in-place, which goes into effect today, April 3rd at 6 pm through 11:59 pm on Monday, April 13, 2020. The order mandates that residents stay home except to engage in essential services, perform necessary travel, or if they are part of the workforce for critical infrastructure. Read the Shelter in Place Handout from the Governor’s Office, which provides more details about the order.

Business Owners COVID-19 Assistance Overview

The CARES Act: Coronavirus Aid, Relief and Economic Security is a $2 trillion stimulus package that includes significant relief money for small businesses.

To be eligible, a small business must be substantially affected by COVID-19, experiencing a decrease in revenue, staffing challenges or supply-chain disruptions, for example. The business must also employ less than 500 employees.

The CARES Act provisions include:

  • Emergency grants of $10 billion that will provide up to $10,000 per small business to cover immediate operating costs.
  • Forgivable loans of $350 billion that will be allocated to the Small Business Administration to provide loans of up to $10million per business for ongoing payroll and operations costs.
  • Existing loan relief of $17 billion to cover six months of payments on existing SBA loans for small businesses that already have them.
  • Expanded unemployment insurance for workers who can’t be rehired or find other work. It also extends jobless benefits to previously ineligible groups of workers, like gig workers and freelancers.

What do business owners need to know about qualifying?

Businesses must maintain a similar number of employees as they did prior to the crisis in order to be eligible for full loan forgiveness. A reduction in loan forgiveness will be applied to those businesses that do not meet this requirement.

What can small business owners do right now?

  • Reach out to your bank to verify they can process SBA loans. Tell them you plan to apply for the EIDL or the PPP loan and inquiry how to get ready to apply. They should also be able to share how quickly the grant or loan will be available.
  • If you do not have a relationship with a banker, or yours will not process SBA loans, you should find one.
  • Start gathering all pertinent documents. The required documents will vary based on the lender, but it’s a good idea to begin gathering:
    • Payroll records for the calendar year 2019 plus the first quarter of 2020, including 1099 payouts to contractors vital to the operation of your business
    • Bank statements
    • Articles of incorporation
    • Lease agreement or deed for the place of business 
    • Business certificate or license
    • Individual and business tax returns and any financial documents that reflect your financial situation
  • Not all the necessary loan application paperwork has been finalized with the banks as of today, but is expected by Friday, April 3rd.

What to do if your business doesn’t qualify?

Businesses that do not meet the requirements for the CARES grant or forgivable loan relief may still apply for a loan via the SBA Express Bridge Loan Program or Economic Injury Disaster Loan Program. These loans will need to be repaid but could help to fill the financial gap until the coronavirus crisis is over.

You need to stay informed, here’s how:

The Small Business Administration has put together a special coronavirus page detailing existing loan information. You will also find guidance for businesses and employers along with links to local assistance. As more information is released there will be updates to this link, including details about the stimulus loans and grants.

More Business Owners COVID-19 related posts and articles can be found here.

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Remember… You Are Beloved!

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The term “Beloved” means to be greatly loved. 

No one can love us like God. For He is Love as scripture describes.

God is love. 

1 John 4:16 NIV

God spoke the world into existence with love. Jesus is the greatest expression of God’s love for us. For those who believe and accept Him as their Savior, embraces the truth that His great love can live in us.

You, me, we… are His beloved children, undeserving of God’s love yet chosen to receive it.

So, in the midst of everything going on in the world today... the unknown, the uncertainty, and in the midst of any anxious thoughts, worries or fears, remember this…

You Are Beloved!

Hold on to this truth and be transformed by God’s Word as it declares that we are beloved, purposed, and cherished children of the one true God.

A Few Verses to Meditate On…

We love because he first loved us. “As the Father has loved me, so have I loved you. Now remain in my love.” – John 15:9

Come to me, all you who are weary and burdened, and I will give you rest. – Matthew 11:28

There is no fear in love. But perfect love drives out fear, because fear has to do with punishment. The one who fears is not made perfect in love. – 1 John 4:18-19

“For we are God’s handiwork, created in Christ Jesus to do good works, which God prepared in advance for us to do.” – Ephesians 2:10

“I have come that they may have life, and have it to the full.” – John 10:10b

May God’s peace and protection be upon you and your family! ~ Tom

Trusting God during trials and in challenging times is not easy. And I don’t want to come across as having all the answers because there have been times when trusting God has been a struggle for me. But over the years I talked about those struggles along with some of the life lessons I’ve learned, and you can find those posts here.