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April 2024
HANSON HEADLINES
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A BREATH OF FRESH AIR The Specialties of Spring
Spring arrives like a breath of fresh air, ringing in a season of renewal, rejuvenation, and beauty. As nature awakens from its winter slumber, the world transforms into a vibrant tapestry of colors, scents, and sounds. Spring reminds us to recreate, rebuild, and make room for new. After months of tedious number-crunching, paperwork filing, and deadline chasing, the moment finally arrives when the weight of financial obligations lifts. As spring coincides with the end of tax season, taxpayers can breathe more easily as they submit their returns, hoping for favorable outcomes or relieved the process is behind them. The end of tax season signifies the conclusion of a stressful period and opens the door to new opportunities and endeavors. Individuals
As spring knocks on my door, it invites me to bask in life’s natural beauty. As a nature enthusiast, I know of no better time to immerse myself in the great outdoors: Its beauty and the opportunity for power, resilience, and renewal. During this time, we often feel rejuvenation in our souls — the rebirth of a brand-new mindset is priceless! I also revisit some of my favorite activities, such as fishing. Fishing is more than just a hobby; it’s a lifelong passion that runs deep within me. From the tranquil stillness of a serene lake to the rhythm of a mighty flowing river, it’s an indescribable feeling. Since my earliest memories, I’ve found serenity and excitement in casting a line and patiently awaiting the tug of a fish below. It’s not just
about the thrill of the catch, although that certainly adds to the excitement. Whether alone with my thoughts or sharing the experience with friends and family, each fishing trip is a journey of discovery and adventure, which is what life is all about. My love for spring transcends time, as it reminds me of some of my most precious memories. Life is meant to be celebrated and enjoyed; it teaches us to start again. As we enter the season of spring, let us be reminded
and businesses can shift their focus toward other priorities, whether it’s planning for the future, embarking on new projects, or simply enjoying a well‑deserved break. I utilize spring as a gateway to decluttering and making space. This deep-cleaning effort often involves tackling neglected areas, organizing storage spaces, and eliminating unnecessary clutter. It refreshes the home and brings a sense of order. I donate old items and organize cabinets and drawers around my house. Spring-cleaning also has many psychological benefits, such as reducing stress, increasing productivity, and fostering a sense of accomplishment.
of the beauty that surrounds us, symbolizing endless possibilities!
–Craig Hanson
Have tax problems? Unsure what to do? Our Free video reveals what you should and should NOT do when you receive the dreaded letter from the IRS. CraigHansonCPATaxResolution.com
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Essential Business Changes for 2024 Success
The past few years have been tumultuous. Much has changed since 2019, from the expansion of remote work to the rise of inflation. Almost every business needs to pivot and modernize to stay relevant in the new climate. A big part of that is finding a new target audience and more revenue streams, which is essential for keeping up with the times while boosting profits. Here’s how you can go about doing just that. No. 1: Reevaluate your target audience. The pandemic and its consequences have shaken up almost every industry, including yours. Prospective customers may have different expectations and needs, while some loyal customers you’ve always relied on may not be coming back. In 2024, you must reevaluate your ideal customers and strive to cater to them. Make a detailed list of businesses or consumers you’re targeting. This list determines the overall direction of your business and the type of adjustments you need to make. Here are some questions that can lead you to better information about your ideal customers. • How much are they willing to spend? If you’re aiming for high-paying clients, they’ll expect the best. If you’re shooting for low-paying customers, you must provide a budget option. • What are their biggest barriers to making a purchase? Examine your current processes. Are they user-friendly? For example, an easy online transaction experience is vital for many parties. • Why do they want to work with you? You have a lot of competition. Put yourself in the client’s shoes and ask why they’d pick you over another business.
Now that you know more about your ideal clients, adjust your pricing model, marketing, and other aspects of your business accordingly. If you adapt the company’s business model to be more attractive to your ideal (but untested) clients, be sure to find a balance so you don’t alienate loyal customers who are staying with you. No. 2: Find new revenue streams from existing clients. Companies in all sectors are introducing complementary products alongside existing ones to make more sales. It’s much easier to sell to loyal clients than to find new ones. Finding ways to maximize monetization is an effective way to boost profits without making substantial changes, and you should take advantage of them whenever possible. Identifying the right product to offer is critical. Start by considering the needs of your ideal and existing clients. Why are they buying your product? What could make their experience better? For example, say you’re an HVAC company. Some companies regularly hire you for replacements and repairs. Think about offering a subscription service, such as monthly checkups and maintenance. You’ll make life easier for both parties: It will be more convenient for them and offer them peace of mind, while the income will be more dependable for you — you won’t have to keep having the same sales conversation with them. But you have to find out their recurring needs to offer something attractive.
Consider introducing surveys, ideally with discount incentives, to get information from clients themselves. Ultimately, clients are the only ones who accurately know their needs and what they’re willing to pay for, and they may have ideas you’ve never considered. Remember Sears, Blockbuster, and RadioShack? Neither do we. Change is the only constant in this world; every company needs to adapt to it or face the consequences. All businesses, including yours, can be more efficient and boost profits like never before, so long as they’re willing to make the proper adjustments to grow.
• What is their personal background? Knowing someone’s location and personal info is always helpful for marketing purposes.
• What does it take to keep them happy? If a high-paying client requires a lot of effort on your part, the ROI might not be worth it.
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WWII proved a challenging and pivotal time for the Dassler brothers and the Adidas name. Based in Germany, the rise of Nazism had substantial implications for every business operating in the country. The military conscripted both Adi and Rudolph, but the Dassler company managed to survive the turmoil of the war. However, it didn’t survive the countless disagreements between Adi and Rudolph. The Adidas name we know today was created in 1949. When Rudolph and Adi went their separate ways, Adi named the company Adi Dassler Adidas Sportschuhfabrik. He also registered the unmistakable three-line logo later that year. His estranged brother would go on to form his own shoe company — Puma.
1954 marked a pivotal moment for the company. The West German soccer team — which Adi was the official shoemaker for — competed against the Hungarians for the World Cup. Both teams competed on a rainy day on a muddy field. After a fierce first half, Adi introduced revolutionary studded cleats. Due to the added traction, the West Germans won the match. In 1952, Adi introduced Adidas’ first non-shoe product: a sports bag. The company subsequently released a multitude of Adidas-stamped sportswear, all bearing the familiar three-line logo. These offerings were an instant success, and the company opened several factories to produce enough supply to meet demand. By the 1960s, Adidas was a successful international company. It was the largest producer of sports shoes and continued to innovate. Adi invented nylon soles, replaceable cleats, rubberized sandals, warmup suits, and more. Adi Dassler remained a passionate shoemaker until he died in 1978. From his start as a cobbler in a war-stricken land, he left an incredible legacy of design, ambition, and resolve. Adidas, one of the most recognizable brands in the world, continues to produce an almost unmatched quantity and variety of clothing and shoes.
From then on, Adidas rocketed into stardom. Innovation and passion drew customers from all over the world. The ever-driven Adi continued to design and release new shoes. He worked with athletes of all kinds
to create a wide variety of shoes.
HAVE A Laugh
In the Middle Ages, most people didn’t sleep for eight uninterrupted hours like we do today. Instead, they had The 2 Acts of Medieval Slumber
a “biphasic” sleep schedule. They had two phases to sleep every evening with a brief period of activity in the middle. The first sleep was from 9 to 11 p.m., and everyone in the household huddled on one straw bed. Despite the lack of space, they tried to make it as comfortable as possible with sleeping arrangements. Touching, kicking, or any other restless activity was considered rude. The household woke up around midnight, and they had plenty to do. They refueled the fire, did farmwork, and socialized. After that, they went back to bed for their second sleep, and they’d wake up at dawn. It’s always worth looking at the past to see the pros of living in the present. The eight-hour schedule is a modern invention and is better for our health. It’s also nice not to sleep with our brothers, sisters, parents, and guests.
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905 James Ave. NE • Jamestown, ND 58401 (701) 252-6190 • CraigHansonCPA.com Inside This Edition
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1. Welcome Spring-Cleaning 2. 2 Vital Adjustments for Businesses in 2024 3. The 2 Sleeps of Medieval Times 4. Adi Dassler’s 3 Stripes Legacy
Adidas is one of the world’s most recognizable brands. Their logo is on shoes, sportswear, and more across every continent. They sponsor stadiums, sports teams, and athletes in dozens of countries. It is impossible to imagine sportswear without Adidas and its countless innovations. Like many worldwide brands, Adidas has humble origins. Adolf “Adi” Dassler laid the foundation for Adidas in his mother’s washroom in Bavaria, Germany. The young Dassler cobbled and repaired shoes using materials scavenged from WWI battlefields, as resources were scarce in postwar Germany. A passionate athlete himself, Dassler dreamed of creating the finest sports shoe imaginable. He constantly innovated, experimenting with different materials and designs using repurposed equipment. Adi and his brother Rudolph created the Dassler Brothers Sport Shoe Factory, having grown too big for their washroom workshop. They hired dozens of employees and expanded into a proper factory in 1926, allowing them to create around a hundred shoes daily. Adi strongly supported athlete sponsorships, and it was those sponsorships that propelled his shoes to the international spotlight. In the Summer Olympics 1936, Adi gave German runner Lina Radke The Story of Adidas and Adi Dassler
Adidas founder Adolf Dassler. PHOTO: BRAUNER/ ULLSTEIN BILD VIA GETTY IMAGES)
a pair of his finest track shoes. Radke wore the six-spiked shoes to the award podium, where she accepted a gold medal in the 800-meter run. The Olympics gambit paid off. The world recognized the power of a well-designed shoe, and the Dassler brother’s company developed a reputation for quality. They started submitting international patents while Adi continued to design new and innovative shoes. Since then, numerous Olympic athletes, including the famed runner Jesse Owens, have sported a pair of Dassler shoes.
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