Craig Hanson CPA - November 2023

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November 2023

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A TASTE OF TRADITION HOW LEFSE AND LUTEFISK BECAME HOLIDAY STAPLES

What dishes usually end up on the dinner table as you and your family gather for Thanksgiving? I’m willing to bet turkey, stuffing, cornbread, cranberry sauce, and pumpkin pie are just a few of the many foods you and your family make for the holiday. If you’re a North Dakota native, though, two other dishes might make their way to the dinner table: lefse and lutefisk. If you’re from North Dakota or have lived here for a few years, you already know about these two meals. My family and I always make and eat these Scandinavian dishes around the holidays, a tradition I hold close to my heart. Maybe you feel the same way — but do you know the history behind these holiday foods? If not, here’s a quick primer: The first Scandinavian immigrants came to North Dakota from Norway in 1860. Most settled in the Red River Valley where they began to create homes and cultivate the land. As they did so, many immigrants continued culinary traditions from their homeland! Let’s first start with lefse. For those unfamiliar with this meal, it’s bread made out of potatoes — and it’s considered a holy bread, making it perfect for the holiday season. Originally, families made lefse from flour. However, all that changed in 1750 when a Norwegian priest visited Latin America and brought potatoes back to Norway. He grew them in a parsonage, and after sharing them with the communities around him, his neighbors nicknamed him “Potato Priest.” People soon began experimenting with incorporating potatoes into their meals, and many loved the taste and appearance of potatoes in their famous lefse. Fast forward to today, dozens of families with Norwegian roots still bake lefse using potatoes to pay tribute to their ancestors during the holidays. Another Thanksgiving dish North Dakota locals eat is lutefisk, an acquired taste for those who enjoy seafood. Fishing is

very prominent in Scandinavian cultures, so it’s no surprise they have a popular meal featuring the reward of one of their activities! The origin story behind lutefisk varies, depending on whom you ask. I’ve always heard that when Vikings’ food sources began to run low during the winter, they had to find alternatives to keep their stomachs full. Thankfully, Norway is near water! They began to fish, and after catching a good number, they removed the bones and skin, soaked them in lye, rinsed them with fresh water, and then boiled them. Once the meat appeared flaky, lutefisk was ready to serve! Remember when I mentioned how Scandinavian settlers immigrated to the Red River Valley? When they first arrived, they hardly had any food to live on, so they began to fish in the valley and make lutefisk until their crops were ready to harvest. Like lefse, lutefisk found its way into family cookbooks and was passed down from generation to generation. If you think about it, the way my family and I (and many others) make these dishes doesn’t stray far from how our ancestors used to make them! I’m unsure how my mother learned to make these iconic meals, but I’m grateful she did and passed the recipes to me. I take pride in paying tribute to those who came before me. Each time I prep these dishes, I hope my children will continue the tradition and share it with my grandchildren.

Are there any meals you specifically make during the holiday season? I would love to swap recipes!

Happy Thanksgiving, everyone!

–Craig Hanson

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Want to Grow Your Business? Master These 3 Simple (But Critical) Rules

As a business owner, you’ve likely spent ample time trying to improve your business and find success. You read business books to learn the secrets of prolific entrepreneurs, attend seminars to improve your skills, and hire talented team members to enhance front-end and back-end processes. Occasionally, you learn something revolutionary that allows you to implement practices that make your company more profitable and successful. Brian Tracy is no stranger to offering this type of revolutionary business advice to others. He’s the chairman and CEO of Brian Tracy International, a company he founded nearly 40 years ago that provides counseling on leadership, strategy, creativity, and more. Tracy has also authored over 80 books

Compare it to getting an oil change. You could go down the street to your local quick oil change location without an appointment and have your oil changed fast and for a low rate. This gets the job done, and if everything goes smoothly, you might return the next time you need an oil change. However, if you went to a mechanic or dealership for service, most places will change your oil, rotate and fill your tires with air, replace any fluids, and more as part of an oil change package deal that only costs $20–$50 more than the quick oil change place. And if their customer service is up to par, there’s no way you’d take your service anywhere else.

This is how customers look at

your business. If your products and services are of the highest quality, you can charge more than your competitors. Focus on revenue generation instead of the costs of your business. It costs money to run a business, but you should not

that offer business, leadership, and psychological guidance to entrepreneurs in any industry. If you haven’t read anything by Tracy or heard him speak, you’re missing out on valuable business advice. Tracy recently unveiled his three rules for business success. By following these rules in your own business, you can

reach new heights and accomplish your goals. Quality is more important than cost. This has been a hot topic ever since humanity

focus solely on money leaving your bank account. You will spend that money regardless, so start building plans to create revenue that covers any expenses your business may have. Part of the reason you started your business was to make money, so start making money. Hire the best staff, give them the training they need, and create sales and operation processes that align with your company values and promote more business. Doing so will offset the costs of doing business while bringing in more revenue that can be used to grow your company. There are no other rules! According to Brian Tracy, there is no other secret rule that will bring success to your business. As long as you put quality first and focus on revenue generation, you can grow a profitable company.

created the marketplace. Do you cut costs and offer a lower-quality product or service, or do you deliver a high- quality product that’s more expensive? Tracy recommends providing a higher-quality product or service every time. Not only will you wow your customers, but you’ll also create a strong relationship that promotes customer loyalty. If you make a cheap product and sell it for a low price, the customer will be happy at first to get a great deal, but their joy will fade as time passes and the product starts to wear down.

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encouragement. The three started to work together and launched Sunniva Super Coffee out of Jake’s apartment at Georgetown University. They quickly found success and started selling their product in stores like Whole Foods, Wegmans, and WaWa. Knowing their business could be even more profitable, the brothers decided to go on “Shark Tank” to pitch their business to the most prolific and wealthy investors in the modern age. They explained their product and allowed the sharks to try their four flavors. The brothers asked for $500,000 in return for a 4.5% ownership of the business. Unfortunately, the sharks were unimpressed. Robert Herjavec, Barbara Corcoran, and Rohan Oza were unimpressed with the taste, while Mark Cuban and Lori Greiner didn’t believe the business could become more profitable. Jake, Jordan, and Jim walked away from “Shark Tank” empty-handed, but they didn’t let that stop them from reaching new levels of growth and success. In 2018, the brothers dropped the “Sunniva” name and rebranded it as “Kitu Life.” The following year, Forbes recognized the brothers on their 30 under 30 list, which garnered the attention

of venture capitalists and high-profile investors. Aaron Rodgers, Jennifer Lopez, Alex Rodriguez, and Baron Davis all backed and invested in the company. The brothers made a distribution agreement with Anheuser-Busch,

which brought Super Coffee to stores like Target, Walmart, and CVS. In the two years since appearing on “Shark Tank,” Super Coffee raised its sales numbers from $4 million to $55 million. The company grew in value from $0 to $400 million within five years. The popularity of Super Coffee has grown exponentially. What started as a dorm room experiment has become an Austin-based company that employs over 100 people and manufactures over 30 products, including creamers, bottled coffee, and coffee grounds. The DeCicco brothers and their Super Coffee venture prove you don’t need experience, industry knowledge, or wealthy investors to get your business off the ground.

You just need a strong idea and dedication to follow your vision.

HAVE A Laugh

“This was the largest armed robbery in United States history, and it was committed by the FBI.” That jaw-dropping statement came from Robert HANG ON — THE FBI ROBBED A BANK? The Story Behind a Mind-Blowing California Raid Frommer, an attorney representing several hundred people whose safe deposit boxes were emptied during an FBI raid in 2021. In March 2021, armed agents stormed a California U.S. Private Vaults bank branch. They confiscated countless safe deposit boxes — making off with roughly $86 million. Why’d they do this? After investigation, the FBI suspected the branch was catering to criminals hiding cash in Los Angeles. After the raid, U.S. Private Vaults pleaded guilty to conspiracy to launder drug money and closed its doors for good. Yet roughly 400 people hired Frommer to get their money back, saying they weren’t criminals. As of March 2023, at least one person still claimed she hadn’t been compensated — even though she wasn’t criminally charged.

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905 James Ave. NE • Jamestown, ND 58401 (701) 252-6190 • CraigHansonCPA.com Inside This Edition

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Scandinavians Had a Potato Priest?!

Grow Your Business With These 3 Rules

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Did the FBI Really ‘Steal’ $86 Million?

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How Super Coffee Grew From $0 to $400 Million

$0 TO $400 MILLION

The Story Behind Super Coffee

What is the first thing you do when you wake up? Many start every day with a freshly brewed cup of coffee, but occasionally, we run out of time and have to pick up something on the way to work. You can get a cup from a coffee shop or a fast- food restaurant, but these can be expensive, unhealthy, and unappetizing. You can go a different route and get an energy drink or bottled coffee, but these usually are high in sugar and can increase the risk of heart disease. In 2015, a college student at Philadelphia University (now Thomas Jefferson University) saw a need for a healthier energy-inducing beverage and created something new. Jordan DeCicco was a student-athlete struggling to stay awake in class. The shops around campus offered mainstream bottled coffee, which Jordan didn’t want to drink. He wanted something healthier to provide more stamina and energy, so he started brewing his own coffee and adding protein and healthy fats. Jordan got the energy he craved from his creation, and it tasted good, too! Soon, his teammates and coaches from the basketball team started drinking it, and Jordan knew he had something big on his hands. Jordan contacted his brothers, Jake and Jim, to share his creation and inform them of his intention to drop out of school and start a business. He was on a full scholarship, which made this venture risky, but his brothers provided support and

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