 Dear ICF Community,
For me December always seems to appear so quickly, as if out of nowhere. Suddenly the end of the year and the holidays are upon us. December is a time for family, friends, sharing, and traditions. I always enjoy hearing how others celebrate, what they do, the things they eat, and what makes this time so special.
As we end 2014, I am reminded of our ICF 'family' - all the coaches in our local community and for me, the board and committee members who have worked so hard to make this a successful year. We continue to expand our connections in the ICF community, whether new members to our chapter or members we have met from around the ICF world. Sharing is what coaches do so well - we share our ideas, our enthusiasm, and most importantly, our wisdom and experience. This year some of our traditions have changed; for example: for our premier members we have added the featured coach section to our website - a change that provides wider web presence for coaches. We have changed when and where we meet for our in person meetings - a change that has allowed some of you to attend more meetings. We also improved and added to our social media tools - allowing broader communication to our coaching community. Traditions, while hard to change, often bring unexpected benefits as we adapt to new circumstances.
This time of the year is also a time of gifts, something our community has experienced throughout the year: the gifts of friendship and connection at our monthly meetings, the gift of growing our businesses, the gifts of knowledge given by our wonderful speakers, and so importantly, the gifts of time and talent so cheerfully given by all those who volunteer with the ICF-New Jersey Chapter.
Let me say in closing that it has been my honor to serve as your President this past year. In this month of gift-giving and gift-receiving, I feel blessed. My wish of "building community in everything we do" for all ICF-New Jersey members has been realized and is demonstrated through maintained membership, volunteer involvement, member program participation, and overall member value. The power of vision and clear intentions has been proven yet again.
On behalf of everyone on the Board, our best wishes for the holidays. We hope you enjoy the best of the season with friends and family and that, as you reflect back on 2014, you find much to celebrate.
Warmly,
Andrea Harvey
2014 ICF-New Jersey President
president@icf-nj.org
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Thank You to the ICF-NJ Volunteers!
We want to extend a great BIG thank you to all the ICF-NJ members who have donated their time and talents to our committees and events this year.
Your efforts in helping make this year a success are greatly appreciated!
Education and Personal Development Committee and Event Support
Teresa Beattie
Dan Bonitsky
Tony Calabrese
Samita Loomba
Erica Loren
Lisa Silvershein
Jamie Sussel Turner
Paula Tutein
2014 ICF Coaching Week Committee
Susan Gilell Stuy, Co-Chair
Paula Tutein
2015 Nomination and Election Committee
Eileen Monesson
Paula Tutein
2015 Strategic Planning Committee
Ian Coburn
Karen Delk
Kimberly Keefe Pisolkar
Jamie Sussel Turner
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All our dreams can come true, if we have the
courage to pursue them.
~ Walt Disney
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Ask the Expert
End of Year Resolutions
by Laura Melville, C3Worlplace, Accounting Division Manager
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The time has come! As we wind down 2014, I can't help but think that 2015 will be upon us before we know it. That means doing 1099s, getting the W2s out, trying to wrap up "the books" to get to the accountant, and so on. Of course, with a new year also comes New Year's resolutions. Many businesses won't plan to create a budget until 2015. I say, why wait until January?? Get started on that budget NOW, and reap the rewards in 2015!
There are a few things that make a budget work the way it's supposed to:
- Create it before the time period you're planning for.
- Do so based on numbers and trends from previous periods.
- Compare/Review Actual to Budget regularly.
- Adjust the budget going forward based on your review.
The rewards you can expect for putting in the extra time and effort? Easy as ABC:
- Accurate cash flow forecasting: minimal surprises = minimal stress
- Better understanding of "your numbers"
- Conversation topics to have with your CPA or financial advisor throughout the year
Getting Started
First - and most importantly - you need an accurate set of books. The goal is to have accurate and relevant financial statements on a timely basis. QuickBooks works very well for this. Keep that file up to date monthly: enter all of your checks and deposits, reconcile the bank accounts and credit card amounts, take a look at loans (at least) quarterly and book the Interest expense. If you're not sure how, ask for help! Remember, you didn't start your business to spend hours on the bookkeeping.
Secondly, you need to review your numbers at least quarterly, preferably monthly. Take a look at the Balance Sheet and Profit and Loss. Compare them to prior periods. Do the comparisons make sense? Research any material differences. Once you're confident of the numbers, review them against your budget.
Cash Flow Effects
How does all you've reviewed affect your cash flow? If you know you're going to be low on cash in a few months, you've got the time to budget. Or, if you've got some extra cash now, you know where to allocate it to make the best business/tax sense. Still not sure? Ask your CPA or financial advisor. You now have laser specific information and questions to discuss with them...ahead of time.
In summary, incorporate the above into your "End of the Year Resolutions" and you will find yourself less stressed and ready for the year ahead! And the icing on the cake: Next year at this time, your budget will already be prepared for 2016, based on accurate, relevant, and timely information gathered and reviewed consistently in 2015. That means more time to relax and enjoy the holiday season!
Need some first-hand Budget, Forecast, and Performance Review examples? Then register for our Webinar on Thursday, December 4th at 12PM. Or if you're ready to take advantage of your complimentary 30-minute bookkeeping assessment, contact me now.
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"Manage Your Holiday Stress by Learning Jin Shin Jyutsu"
Featured Presenter Lynn Naples Date Wed., Dec. 3, 2014 Time 6:00 p.m. - 9:00 p.m. ET Location Hilton Garden Inn -Edison 50 Raritan Center Pkwy, Edison, NJ 732.225.0900 Click here for more information and to register. |
Welcome to Our New ICF-NJ Members! Kung-Li Deng Cate Leonard Barbara Muller-Ackerman Astrid Nuesslein Andrea Zacharias |
Meet Your Fellow ICF-NJ Members at a Community Group Meeting Bergen County 2nd Wed. of the month 7:30 - 8:30 p.m.
Burlington / Camden / Gloucester Counties 3rd Tues. of the month 7:00 p.m.
Essex / Morris / Union Counties 3rd Tues. of the month 7:00 - 8:30 p.m.
Monmouth County 1st & 3rd Mondays 4 - 5:30 p.m.
Princeton Area 1st Mon. of the month New Location! 1:30 - 2:45 p.m.
Somerset / Morris Counties 3rd Mon. of the month 10 a.m. ET
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 Calling all ICF-NJ Members
Are you interested in writing an article for our monthly newsletter?
Do you have
GOOD NEWS
to share with our community, such as a recent accreditation or publication?
WE'D LOVE TO HEAR FROM YOU!
Please contact the ICF-NJ Communications Director, Kim Pisolkar, with your ideas and news at Kim@SmallBiz
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 Sponsorship Opportunities at ICF-NJ!
Are your services a PERFECT solution for coaches? Reach several hundred passionate entrepreneurs by sponsoring the ICF-New Jersey's powerful live events, teleconferences, and newsletters.
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