The concept of innovation is critical to any organization. Some business leaders will fall into the habitual pattern of doing things the same old way. And not without reason: if the status quo has worked well for a long time, there is fear of disrupting a pattern of "success." But right now, change is vital amid COVID-19 disruptions and restrictions.

Several different types of business - restaurants, retail stores, theaters - are now opening at limited capacity with social distancing and mask-wearing protocols in place - their very survival is in question! Over the course of this pandemic, Sponsel CPA Group has discussed internally what makes sense for our own business. Since we are a business more dependent on communication than the delivery of a product or service in a physical setting, we decided to operate more via email, teleconference, video conference and other online platforms in lieu of face-to-face meetings, thus driving the remote workplace as an effective tool.

For business owners and CEOs, it can get lonely at the top. While everyone comes to you for direction, you may need advice yourself. No one has the golden touch - not even those in the highest positions of power and responsibility. Behind every successful business owner are strong confidants and harsh critics whose candor contributes to personal success. Your colleagues are likely to sugarcoat their feedback, as they may perceive you want the compliant "YES!" You need someone to shoot it to you straight and challenge you with diversity of thought and perspective. We all have blind spots!

Here's where an executive coach comes into play. This impartial third party serves as a fresh set of eyes on your management conduct and vision for success. Some executive coaches will perform an intensive 360-degree assessment at the outset, gathering information about how your employees, managers and other stakeholders perceive you. They'll then refer to this assessment as you work together to set goals for improvement.

With many businesses - including big ones like Google - working remotely well into next year, we need to accept virtual meetings as "the new normal" for the moment.

Video meeting tools like Zoom have their ups and downs. The biggest upside is their recreation of a face-to-face meeting at a virtual conference room table. Of course, the downside is that you're actually at home, surrounded by distractions: children playing, dogs barking, spouses having their own meetings. We also have trouble being present in the moment due to multitasking - checking and responding to emails or text messages or even taking a call on your cellphone. All in all, you may not be as focused during a Zoom call as you are within the four walls of your office's conference room.

Aimee Woehler joined the firm six years ago as a Staff Accountant in the Accounting Services department after an extensive background in the not-for-profit sector. In July of 2017, her hard work and dedication to finding value for clients was rewarded with a promotion to Senior Accountant.

A Certified QuickBooks ProAdvisor, Aimee sets up QuickBooks for clients and trains their teams with using it. Her responsibilities also include processing payroll, quarterly payroll returns and ongoing bookkeeping services. In addition, Aimee enjoys being a member of Sponsel recruiting team where she has the opportunity to represent the firm on local college campuses.

We Made the List Again!

On August 24, the Indiana Chamber of Commerce unveiled its rankings for the state's 125 best places to work. We're proud to be on the list for the second year in a row! Pat yourselves on the back and take this as inspiration to keep making our business even better!

PPP Updates

The SBA recently issued a new Interim Final Rule on the Paycheck Protection Program (PPP) loan program. Read our latest e-blast for more information, and for new Frequently Asked Questions on PPP Loan Forgiveness, click here

Tax Reminder

Don't forget that third quarterly estimated tax payments for individuals are due on Tuesday, September 15!