A Letter from the Publisher
BWD
A REHMANN PUBLICATION VOL. 25 | SPRING/SUMMER 2018
B u s i ness Wisdom Deli vered
IN THIS ISSUE
04
Decrypting cryptocurrency
05
Adopting the new
revenue recognition standard
06
Success stories
08
Now's the time to consider
a Roth IRA conversion
10
The C-suite and the background
12
Let's talk about tax: How the new
law may impact your business
Growing your business
Growth is a sign of a healthy business. Increasing profit and strengthening
your company’s reputation are all exciting elements that come with growth, but
they can also introduce new challenges. To ensure your business continues to
flourish, remaining vigilant on planting new seeds and recognizing the changing
landscape that requires you to nourish the business differently can be tough.
As your business expands, your strategy should also evolve. Successful
business owners regularly review their plans to ensure they continue to meet
the company’s — and its customers’ — needs. Take some time to review your
objectives and dig into the weeds of where you would like your business to
improve. Growing businesses are often limited on time, so consider other
resources or technologies that can help you redefine or execute on objectives.
Keep in mind that long-term investments, data security, operational
improvements, and a host of other seeds need to be planted or watered to
ensure you harvest favorable results. And be sure to invest in the development of
staff, as their engagement is key to the productivity of your business. To succeed
in business today, it is almost essential that you have a strong company culture.
One of the joys of growing something is that you get to enjoy the fruits of your
labor. Continue taking action and remain fully committed to your strategy, even
if it takes you out of your comfort zone or occasionally produces a few bad fruits.
As the saying goes, there are no gardening mistakes, only experiments.
14
Transform your business
with outsourcing
Contributors:
Chelsie Avery
Sharon Berman
Jim Carpp
Bill Kowalski
Anthony Licavoli
Magdalena Marriott
Michael Patterson
Ryan Sullivan
Joe Zaiter
Randy Rupp, CPA
CEO
BWD Staff:
Publisher ....................
Managing Editor .........
Editor .........................
Creative Director.........
Cover Photography ....
Randy Rupp
Miranda Junga
Aja Myles
Marcy Meinke
John Martin
Subscriptions & Circulation:
Send inquiries to:
Rehmann – BWD
1500 W. Big Beaver Rd., 2nd Floor
Troy, MI 48084
248.952.5000 | [email protected]