Craig Hanson CPA - August 2023

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August 2023

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BEST FRIENDS TURNED LOVERS Jean and I Celebrated Our 40th Wedding Anniversary!

A few months ago, my wife Jean and I celebrated our 40th wedding anniversary on June 25. You may wonder why I didn’t discuss this huge milestone in the June newsletter, but I promise I have a good reason! In honor of our anniversary, we did something we’ve been anticipating since all the snow melted — went camping. We packed up our camper and ventured out to the countryside to Turtle River State Park! So, I’m talking about our little getaway this month because August is the peak of camping season! As I’ve mentioned before, I always went on camping trips with my family and when I was in Boy Scouts. Then, after visiting my son and daughter-in-law, who bought a lake-side property in Minnesota a couple of years ago, we decided to get a camper! When we got the camper, we planned on traveling with it everywhere. And going to Turtle River State Park was a place on our list I’m grateful we could visit. Jean and I reflected on our incredible years together during our anniversary trip. It’s hard for me to believe it’s been 40 years — it seems like we were walking down the aisle just the other day! The past 40 years have been nothing short of a blessing. Even when we endure obstacles and challenges, ultimately, I have everything I need right here beside me — my wife. It’s hard to complain when I get to spend every day with my best friend! And when I say Jean is my best friend, I mean it! Before we ever started dating, we were friends first, which is one of the main reasons our bond is stronger than ever today. When I was a sophomore in high school, I got a new neighbor, and my life changed forever. Jean moved in next door, and we immediately hit it off. As soon as we met each other, we were inseparable! But we didn’t fall in love immediately — we just enjoyed each other’s company and doing things together. But

as we got older, feelings began to change. Then, four years later, Jean and I started dating; the rest is history! Because of how long we’ve been together and because we work together, many people have asked me how we keep the spark alive. Although times at work are very stressful, having Jean with me always makes it better. I can always go to her to vent, decompress, and run ideas by her. We tend to get a tad annoyed during tax season — but not at each other, just the stress tax season can bring! Because of that, we always communicate and let one another know our frustrations are not directed toward each other. Having honest conversations and communicating openly has been the most significant factor that keeps our marriage strong, happy, and healthy. But we also schedule time to spend together. When we’re both busy, we make it a point to plan a date night or do something we enjoy doing with one another. Being intentional with the moments we get together is always so precious. But we also schedule time to be apart and pursue our own interests! There are hobbies we like to do separately, so we will carve time to focus on those. Then, we come back together and share our experiences. Giving each other room to grow individually allows you to grow as a couple as you walk through life together.

Thank you, Jean, for the amazing 40 years! Here’s to another 40 years of finishing each other’s sentences and living life together!

–Craig Hanson

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Ongoing Education Makes a Difference Make Learning a Workplace Must

The last thing you want is a workforce filled with people living for the weekend. The grueling “work is just a paycheck” mindset doesn’t benefit your employees or your business. So, how can you boost motivation and create a work environment where employees actually feel like they matter? Opportunities to learn and grow are vital and not only improve workplace satisfaction but also help improve your overall business. What Motivates Us? Finding motivation isn’t easy, especially when trying to uplift an entire staff with varying skills and concerns. Fortunately, the results are in, and studies have shown that education is a significant factor in keeping people motivated as they search for fulfillment. Daniel H. Pink’s book “Drive: The Surprising Truth About What Motivates Us” explores how impactful education is for those who are and aren’t motivated in their daily lives.

your company’s success. When they’re inspired, they work harder, which means increased productivity and greater profits for your business. LinkedIn conducted a study on the relationship between workplace learning and contentment to discover how much education truly impacts employee satisfaction. They found that those given learning opportunities were “47% less likely to be stressed, 39% more likely to feel productive and successful, 23% more ready to take on additional responsibilities, and 21% more likely to feel confident and happy.” Impressive, right? So, how can you make this a reality in your business? While frequent training is crucial to encouraging education, you don’t want your employees to feel forced. The key is to be upfront and let them have a say on what they would like to learn more about, how they want to achieve it, and when they want to accomplish it. You want to make education as easy as possible for your team to benefit thoroughly and even be happy while learning! Another surefire way to enhance the learning experience is by joining in as a classmate. You can lead by example and show that everyone, including you, can profit from learning something new. This can make any training feel less like a mandatory snoozefest and more like a meaningful activity. With career burnout becoming more common, you need to support your team and ensure they feel like their hard work matters. When they learn more and feel accomplished about their career, productivity advances further than you can imagine. Educated and motivated employees equate to better business results!

According to Pink, humans need three elements to feel fulfilled and inspired: autonomy, mastery, and purpose. The solution to all three aspects is learning, and what better way to motivate your team than to create a learning environment? Foster learning by providing ongoing training and opportunities to learn from one another. Benefits of Educated and Fulfilled Employees

How your employees view their work, and their lives in general, directly impacts

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‘When Machines Become Customers’ GIVES A GLIMPSE INTO THE NEAR FUTURE

Artificial intelligence (AI) is everywhere, and it’s not going away any time soon. And while no one can stop how soon it will enter the customer market, you can prepare for it. In the new book “When Machines Become Customers” by Mark Raskino and Don Scheibenreif,

A mysterious 18th-century code has made even geniuses lose sleep. On the grounds of England’s Shugborough Hall lies a code that refuses to be cracked. The monument features an engraving of Nicolas Poussin’s painting “The Shepherds of Arcadia” and the inscription “OUOSVAVV” framed by the letters “DM.” Countless theories have been made, including: • Masonic symbols lead to the hidden location of the Holy Grail treasure with the outside letters “DM,” meaning “Devout Mason.” • A tribute to the owner’s late wife with the letters standing for “Optimae Uxoris Optimae Sororis Viduus Amantissimus Vovit Virtutibus,” meaning, “Best of wives, best of sisters, a most devoted widower dedicates [this] to your virtues.” • The monument is a dead end with jumbled letters to taunt those who look too deeply into inscriptions. THIS ENIGMATIC INSCRIPTION REMAINS UNSOLVED Discover the Theories Behind Shepherd’s Monument O·U·O·S·V·A·V·V While this may seem like a distant reality, it’s closer than you think. This shift in customer demographics requires an all-new approach to marketing and operations that you should be ready to tackle. Read more about how your business can better prepare for machine customers in this outstanding book. machine’s intelligence has increased, and it will be able to shop for various products from a range of companies. Suddenly the work of choosing what products to buy is being moved from the customer to the machine. Machines will decide what items to purchase based on factual information alone, such as best value and healthier ingredients. Finally, phase three involves the machine customer becoming completely autonomous. The AI customer can predict the need for an item, replenish with the best product available, and complete the purchase with zero human interference. This new feature can benefit small-business owners by taking over the time-consuming task of calculating inventory, identifying customer preferences, and purchasing stock. ink when it senses levels are low or coffee machines that purchase more pods when stock runs out. Phase two expands when smart assistants become widespread and can make knowledgeable purchasing decisions. The

HAVE A Laugh Phase one involves machines being able to purchase items for a customer, but only from a single manufacturer or product type. Some examples are printers that reorder the inevitability of AI shoppers becomes apparent, but what does this actually look like? Raskino and Scheibenreif describe AI-enabled customers as technology that shops for us and will overtake the decision-making process when purchasing products or services. In this surprising book, the writers describe three phases regarding the evolution of machine customers. Currently, we’re at “base zero,” where tech can inform us when an inventory of a specific product is low. We can see early- AI customers in companies like Amazon, where Alexa can purchase an item or its Dash Smart Shelf can sense when an item needs to be replenished and reorders for you. So, what are phases one, two, and three?

Do you agree with any of these theories?

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PRST STD US POSTAGE PAID BOISE, ID PERMIT 411

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

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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It’s Been an Amazing 40 Years!

Are Your Employees Staying Educated?

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Get Ready for AI Customers Can You Solve This 18th- Century Cipher? How to Revive a Failing Marketing Strategy

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HERE’S HOW YOU CAN BRING IT BACK TO LIFE MARKETING STRATEGY NOT GOING AS PLANNED?

Marketing isn’t easy, and despite spending countless hours and resources crafting a marketing strategy, it can still fall flat. The definition of a “failed” marketing campaign is undoubtedly subjective, but if you see that there’s been no significant impact and your ROI isn’t cutting it, then it’s time

return to the planning phase to differentiate your message from your competitors. Amp up the offer. Gifts, special sales, discounts, and other incentives are some of the reasons a potential customer will engage with your business, but if the offer isn’t valuable enough, they will ignore it. Whatever desired action you want your clientele to take, you need to ensure they’re receiving enough in return. Evolve and adapt! If none of these approaches

to get back to the basics. Think like a customer.

Your campaign may have seemed bulletproof initially, but if you see less than great results, it’s time to think less like a business owner and more like a customer. As a customer, consider what issues may have caused you to react negatively, or not at all, to this marketing strategy. Was the targeted audience too broad? Was the messaging not powerful enough? Consider specifying your target demographic and redirecting your message to fit that audience. Make it memorable. Thanks to social media, consumers are constantly bombarded with ads and offers from countless companies vying for their business. This means your marketing may have gotten lost in the noise by failing to stand out and grab someone’s attention. So, check if your campaign is similar to others that launched around the same time. You may need to

work for you, start fresh. Take a new route and use the new information you’ve learned after evaluating your

strategy’s results. Don’t consider this marketing

strategy a failure but a learning experience that will help you build more effective campaigns in the future. Learn from your mistakes, and you can come back stronger and better than ever!

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