Thursday, November 29, 2018

The Importance of Budgeting in Business


Some business owners begin their operation with a wave of optimism and enthusiasm but without a well thought out budget they find it is not possible to create a successful action plan.

When running a business it’s easy to get bogged down with day to day problems and miss the bigger picture. Successful businesses allocate time to create and manage budgets, prepare and review business plans and regularly monitor their financial situation and business performance.

Budgeting identifies current available capital, provides an estimate of expenditure and anticipates incoming revenue. By referring to the budget businesses can measure performance against expenditure and ensure that resources are available for initiatives that support business growth and development. It enables the business owner to concentrate on cash flow, reducing costs, improving profits and increasing returns on investment.

Budgeting is the basis for all business success. It helps with both planning and control of the finances of the business. If there is no control over spending, planning is futile and if there is no planning there are no business objectives to achieve.

A budget is a plan to:

  • control the finances of the business
  • ensure that the business can fund its current commitments
  • enable the business to meet it objectives and make confident financial decisions; and
  • make sure that the business has money for future projects.

The benefits of budgeting should never be underestimated when running a business:

  • budgeting estimates revenue, plans expenditure and restricts any spending that is not part of the plan
  • budgeting ensures that money is allocated to those things that support the strategic objectives of the business
  • a well communicated budget helps everyone understand the priorities of the business
  • the process of creating a budget provides opportunities to involve staff, resulting in them sharing the organisation’s vision; and
  • engaging the team in reviewing and comparing the budget with actuals can provide information that highlights the strengths and weaknesses of the business.

If you’re running your business without a proper budget you may find you’re actually just running around in circles and not meeting your long-term goals. By taking the time now to set a budget, you will free up time in the future and give yourself the best chance of achieving the rewards you want for your hard work.

-Karen Banks, Advisor

Saturday, November 24, 2018

The financial power in numbers: Discover what your numbers really mean - Educational seminar

The first educational seminar hosted by Soledad Tanner Consulting LLC was “The financial Power in Numbers: Discover what your numbers really mean” was a total success!! We had a full house! Thanks to all who come to the event and made it a success.

Soledad Tanner, MIB- Founder of Soledad Tanner Consulting, LLC spoke about how to understand the numbers that create success for your business, Shahara Wright – Commercial Lawyer and Founder of The CEO Effect, LLC, spoke about Contract for your business, Sofia Ivanka - Founder of Building Smart Kids spoke about Education as an investment.

A huge thanks to all sponsors: Angelica Noyola CEO of Snapper Jack's Catering for providing the delicious food for the event (, Rianne Rivadeneira CEO Rent-A-Spanish speaker for being our Master of Ceremony ( ) and to Danelia Argueta – Marketing & Business Development Officer of Cy-Fair Federal Credit Union, for her “Random act of Kindness” rewards to our guests (

Save the date: Next seminar will be: Tuesday February 19 @ 6:30 pm. Stayed tuned for details on the next event in this series. Reach out to me (832) 998-2136 for a complimentary consultation on how your business can be in the journey of improved profit & Productivity.

Soledad Tanner Consulting provides Business Consulting and Financial Management Solutions to businesses, professionals and corporations interested in maximizing their PROFIT & PRODUCTIVITY

Soledad Tanner, MIB

Monday, November 5, 2018

Adriana en complicidad. Entrevista a Soledad Tanner # 3

It's time to analyze the productivity of your business. Did your business have profit? Could you have made more? Did you spend too much? What else can you do to make the next year even more successful? Do you check your results every month? Do not wait to run out of working capital to figure out your finances. In 2018 we had a significant reform of the tax law. Not knowing about the changes can cost you thousands of dollars. 

Hire an expert to advise you so you can increase the profit of your business. In Soledad Tanner Consulting we will guide you with strategies so your business runs at 100%. Listen to the interview (In Spanish) for tips and contact: (832) 998 2136 or For more information: 

More about Adriana Calhoon - AC Media TV: 

Es tiempo de analizar la productividad de su negocio. ¿Tuvo su negocio utilidad? ¿Podría haber ganado mas? ¿Gasto demasiado? ¿Que mas puede hacer para que el año que viene sea aun mas exitoso? ¿Revisa todos los meses sus resultados? No espere quedarse sin capital de trabajo para darse cuenta de sus resultados. En el 2018 tuvimos una gran reforma de la ley de impuestos. El no saber de los cambios le puede costar miles de dólares. 

Contrate un experto para que lo asesore y así incremente la utilidad de su negocio. Soledad Tanner Consulting le da estrategias para que su negocio este al 100%. Escuche la entrevista por tips y contactemos al: (832) 998 2136 o a Para mas información: 

Mas acerca de Adriana Calhoon - AC Media TV: 

Thursday, November 1, 2018

Research Shows Immigrants Help Businesses Grow. Here’s Why.

"Immigrants contribute disproportionately to entrepreneurship. In the United States, they represent 27.5% of all entrepreneurs but only 13% of the population. Immigrants aren’t just creating more businesses; they’re creating more successful ones. Immigrant-led companies grow at a faster rate and are more likely to survive long term than native-led companies are. Qualities: A growth mindset, adaptability, diversity and inclusion and global readiness” 

Nataly Kelly is the VP of International Operations and Strategy at HubSpot


By: Nataly Kelly

It has been well documented that immigrants contribute disproportionately to entrepreneurship. This is true both in the United States, where they represent 27.5% of all entrepreneurs but only 13% of the population, and in many other countries around the world.

On average, immigrants contribute twice as much to U.S. entrepreneurship as native-born citizens do. But immigrants aren’t just creating more businesses; they’re creating more successful ones. A Harvard Business school study comparing immigrant-founded businesses to native-founded ones showed that immigrant-founded companies perform better in terms of employment growth over three- and six-year time horizons. The authors of the study, William R. Kerr and Sari Pekkala Kerr, conclude that immigrant-led companies grow at a faster rate and are more likely to survive long term than native-led companies are.

Why is this the case? Researchers are not completely sure, but as William Kerr has said, “The very act of someone moving around the world, often leaving family behind, might select those who are very determined or more tolerant of business risk.” It’s important to highlight that not all immigrants or non-immigrants are the same, and there is obviously a tremendous amount of variability between individuals. However, many of the qualities that would seem to make immigrants more likely to succeed in building their own businesses are reasons you should consider hiring them to help build yours.

A growth mindset

Success in today’s business environment requires having a “growth mindset.” A person with a growth mindset believes their talents are not stagnant. They believe they can do more by working hard, coming up with good strategies, and taking input from others. Such people achieve more than individuals with a fixed mindset, who tend to think they were born only with certain innate talents, which are unlikely to change.

A concept closely related to that of “growth mindset” is that of an “immigrant mindset.” People who are willing to uproot their lives in search of something better are the types of people who are determined to make change happen themselves. To migrate to a new country also takes a high level of confidence in one’s ability to change and a high level of tolerance for uncertainty. More importantly, they believe in their ability to figure things out and adapt once they get there.

Being unafraid of new challenges and proactively reaching for them is extremely important for long-term business survival. Those companies that do not continually innovate and adapt along with advances in technology and changes in society eventually see their products or services fade in importance. Meanwhile, competitors, or simply new and better ways of working, replace them. Growth demands that businesses view change as imperative, not optional. Immigrants, who are veterans of change, would appear to be likely to help businesses remain competitive and thrive.


It requires adaptation skills to survive, let alone to thrive, in a new place. When you’re in a brand new culture, and especially if you’re learning a new language, the need for change isn’t a one-off, but rather a continual daily requirement. This is why even immigrants who might have come from wealthy or privileged backgrounds in their home country tend to quickly lose any sense of entitlement. Adapting can be a painful and difficult process, one that takes place on an ongoing basis. It forces a reexamination of the familiar and requires a person to make changes to how they think and act.

Dharmesh Shah, founder and CTO at HubSpot and an immigrant to the United States, writes about many of the changes he made on an ongoing basis in order to fit in, from getting rid of his accent, to changing his appearance, and even temporarily changing his name to David.

Here too, immigrants may offer a benefit for employers. Businesses are increasingly finding that rapid adaptation is necessary for success in today’s competitive environment. Hiring immigrants may help you build the organizational muscle of adaptability that will enable your company to be more receptive to, and act upon, the continual change that is required of businesses today.

Diversity and inclusion

Immigrants usually improve a company’s ethnic and linguistic diversity, and they also bring a plethora of unique experiences, backgrounds, and knowledge to the workplace. And companies are paying attention to research finding that firms with more diverse people on staff have healthier financial performance, largely because non-homogenous teams tend to outperform teams with lots of similar people.

But hiring a more diverse workforce is only half the equation. Without giving people equal chances to participate and truly integrating them into all aspects of the business, teams won’t reach a state of high performance very quickly, and the unique aspects of individuals won’t be leveraged to the highest degree. This is where inclusivity comes in.

Immigrants know what it feels like to be an outsider. Throughout my career, I have noticed that the people on my teams who have either immigrated to a new country or spent extensive time living abroad are highly sensitized to the fact that others might not feel included. They tend to be more inclined to promote an inclusive way of working than employees without this experience. They are also more aware that others might contribute different experiences from their own. So, they tend to be more willing to hear voices that might otherwise go unheard in a business environment. Because they have experienced what it’s like to be different first-hand, they can also be more likely to be in tune with the realities of discrimination, both blatant and the more pervasive subtle kind. This, in turn, may make them eager to help prevent their colleagues from experiencing it.

Global readiness

One of the most frequently overlooked benefits that immigrants bring to a business context is that they have international experience. Knowledge of other cultures and languages might not seem critical for a business that isn’t yet selling outside of its home country, but in order to keep growing, nearly every business hits a point at which they need to expand beyond borders. And today, with most businesses having an online presence, they are global from day one.

Most companies are not prepared to handle global business from day one. They orient their firm around the needs of their home market alone. And when they do go global, it’s usually a painful process filled with plentiful organizational learning and growing pains.

People who bring experience from a different country and cultural context may be more likely to prevent a company from having to deal with such pains, while accelerating the company’s organizational learning about how to become a global company. In my role at HubSpot, leading international expansion and strategy for the company, I’ve found that many of the employees who have immigration experience tend to think about potential international challenges much earlier. They’re not just thinking about the markets you’re in now and the customers have today. They have a more global outlook on life itself, and they bring this perspective to their daily work. They design processes and do their work in a way that prevents global friction later on as the business grows into new markets.

Integrate Cross-Border Experience into Your Business

Here are some practical ways to make sure that your company is recruiting adaptive people with a growth mindset and cross-cultural experiences:

Invest in mobility and immigration expertise. Often, candidates who have immigrated might require additional support to ensure compliance with laws and regulations, especially where visas and work requirements are concerned. Make sure your legal team can support you with the ability to advise on the specifics in this area.

Add international or cross-cultural experience to your recruiting priorities. Clearly explain your priorities to your recruiting team. They can help add international experience as a desired quality in job descriptions, screening tools, and so on. You can also tell them to look for people who were born in your home country, but spent a good part of their lives living abroad or have other cross-cultural experience.

Flag people who know multiple languages. It’s not always easy to tell if someone came to your country from another just by looking at their resume, especially if they obtained higher education once they got here. Professional profiles, such as LinkedIn, enable you to filter by language to quickly find people with international experience. Also, consider adding language expertise to your existing systems, so that you can identify employees who might already have this without their managers being aware.

Keep an eye out for candidates with an adaptive mindset. You don’t have to be an immigrant to demonstrate many of the qualities that make immigrants successful in business. Give consideration to employees who don’t shy away from change and have a track record of choosing the foreign over the familiar. Look for people who have made major career pivots, have overcome unusual or significant challenges, or otherwise show signs of willingness to explore uncharted territory while adapting and thriving in the process.

Encourage employees to obtain international experience. If you have offices outside your home country, consider creating incentives for employees to spend more time in those offices. The expenses can add up, but nothing replaces the value of living and working in another country, no matter how long, to help them contribute in a more meaningful way to your business, especially if international business is a key part of fueling your overall global growth.

Nataly Kelly is the VP of International Operations and Strategy at HubSpot. Her latest book is Found in Translation (Penguin).

Tuesday, September 11, 2018

Responsibility: Not Apologizing When You Succeed Or Complaining When You Fail

Written by: Benjamin P. Hardy
(Husband and father of 3 with TWINS (boy & girl!) on the way. We live in Orlando and frequent Disney)

“The greatest form of maturity is at harvest time. This is when we must learn how to reap without complaint if the amounts are small and how to reap without apology if the amounts are big.” — Jim Rohn

Don’t apologize when you succeed.

Don’t complain or blame when you fail.

Completely own and take responsibility for what you’ve attracted into your life. Said Dr. Stephen R. Covey, “We control our actions, but the consequences that flow from those actions are controlled by principles.”

You cannot change your situation until you own that you’ve contributed to your situation.

When you take responsibility for what is happening in your life, you’re no longer the victim of circumstances. You no longer have to be a reactive object being acted upon by your environment. Instead, you can proactively act as an agent who impacts and changes your circumstances.
Don’t Apologize For Success

You should only apologize if you’ve done something wrong. Apologies only make sense if you plan to never do something again.

When you’ve succeeded, you have no reason to apologize. Of course, you don’t need to flaunt your rewards or “harvest.”

But you absolutely can and should own how you’ve been living and own what you’re learning.

All the while, remain humble to the fact that “self-made” is an illusion. You have taken responsibility, and you will continue to take 100% responsibility. Yet, at the same time, you know you are nothing without the help and grace of others. Therefore, you remain deeply grateful and humble.

This humility and gratitude is your strength. But it certainly doesn’t cause you to act smaller than you really are. That is a strange form of hypocrisy that is just as bad as pretending to be better than you really are.

Don’t lower yourself, your standards, or your results to make other people feel comfortable for their lack of progress. Instead, have candid conversations where all can learn from each other. Dan Sullivan, the founder of Strategic Coach, has said, “It’s better to be an example of someone living a powerful life than to live small in order to make other people feel comfortable around you.”

Don’t attach your identity to outcomes. Instead, attach your identity to your WHY, and to your behaviors — those things you can control. Principles govern outcomes. You govern your behaviors and you define your WHY.

Said Jim Rohn, “When you know what you want, and want it bad enough, you will find a way to get it.”

You start with Reasons, and from those Reasons you select specific Results you seek to achieve. From those results you develop Processes or Methods.

The Methods are the means to the end and should never become the end in themselves. That’s the problem with modern psychology — the emphasis has shifted from people to process.

Process matters, but only in the context of specific results you seek to achieve.

You absolutely should seek outcomes. The more specific the outcomes you seek, the more clear will be your goals. Having clear and timely goals is essential to success. If someone tells you not to seek or focus on outcomes, they are lying to you. Said performance coach, Tim Grover, “When you crave the end result, the hard work becomes irrelevant.” The more clear and compelling the desired outcome, the more inspired, relevant, and bold must become your process.

Seeking outcomes is not the problem. Attaching your identity to outcomes is the problem. Because no matter how good or bad your outcomes have been in the past, you can’t stay there. Getting stuck in the past is how you throw away your future. Hence, Dan Sullivan has said, “Always make your future bigger than your past.”
Don’t Complain For Failure

Lessons are repeated until they are learned.

When you fail, don’t complain. There’s nothing good that will come out of it. When you complain or blame, you immediately shut yourself off to learning. You halt your own progress and will inevitably repeat the same blunder in the future.

Failure is feedback. Failure is what neuroscientists call “prediction error,” which is essential to learning.

You made a mistake. So learn from it. Be happy about it. You just stepped outside your small realm of understanding and now you have the opportunity to expand your worldview.

If you allow this learning to sink-in, you’ll be empowered to create better outcomes in the future.

In the book, The Fifth Discipline, Peter Senge said:
“It is tempting to think that just because one understands certain principles one has “learned” about the discipline. This is the familiar trap of confusing intellectual understanding with learning. Learning always involves new understandings and new behaviors, ‘thinking’ and ‘doing.’”

If your behavior isn’t changing, then you’re not learning. True learning means you can produce a desired outcome. If you can’t consistently produce the outcome you want, then you haven’t learned.

According to Brain-scan studies, if you do not address a problem in 0.25 seconds after a mistake is made, you probably won’t do anything about it. You’ll brush-off the mistake and continue forward in the same manner you’ve been going. You won’t be learning from your experience, and thus you’ll continue moving into your future by recreating your past.

If instead, you would simply stop, address what just happened, and continue forward from a higher plane, you could then produce better outcomes in the future. You don’t have to live in your past.

This can only happen when you truly own when you’ve made a mistake. Rather than complaining for failures — or blaming the bad weather or something else — you learn from what is happening and adapt.

Charles Darwin has said, “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.” To adapt is to learn. The quicker you adapt, the better you’ll live. It doesn’t matter what happens to you, it matters how you respond.

Without question, environment influence matters. But what matters more is what you do about it. You can either continue living reactively as an object, or you can adapt as an agent in new and better ways to change your environment.

You can learn your lessons.

Success is yours for the taking.

You can succeed bigger than you can presently imagine. Success begets success. When you begin making huge leaps — you open yourself to different worlds of possibility. When you have momentum, confidence, and inspiration, you begin taking on bigger and more powerful goals.

Don’ t apologize when you succeed.

Don’t complain when you fail.

Don’t attach your identity to outcomes. But without question, seek very specific outcomes. Set S.M.A.R.T. goals. Then get increasingly better at applying principles and honing your process so that you can consistently yield desired outcomes.

Monday, September 3, 2018

Soledad Tanner Purpose Story

I am sharing my personal story of PURPOSE. My hope is that this story brings hope, inspiration and empower others to overcome their challenges and fulfill their dreams. To read the full article about "Beautiful purpose" click here:

“My purpose is to associate with and support strong women so we can all rise together and discover our highest selves and do the most good.

I started my financial services business to empower the people around me and impact their lives, as well as serving my clients. My business is a vehicle for my truth about how education leads to knowledge and experience, which can open you up to lead a life of adventure and growth.

I speak with gravity in my voice, so that I am heard. I have found my voice through knowledge and experience, which are the foundations of my confidence. Happiness is a decision I make. If you really want to do something, you have to put your voice to your dream.”

Soledad Tanner, M.I.B