Have you ever heard of a lien? Chances are yes, but you might not know exactly what it is and how it can help or hurt your business. Lets clear up any confusion you may have.
What is a lien?
A lien is a legal claim, found in the fine print of a credit agreement that protects creditors against borrowers in the case of default. Once the loan is signed, the creditor files a lien against your business in case of bankruptcy or unpaid debts. Once filed, the lien gives the creditor the right to sell the borrower’s business assets to collect the money owed to them. The lien gives the creditor a bit of protection against financial risk. You might be surprised to learn there could be a lien filed against your business right now (most likely if your business has debt).
That shouldn’t scare you and you don’t need to avoid an agreement containing a lien in the future, but it’s good to keep your eye out for them. As you’ve heard many times, make sure you know what exactly you are signing! This includes the fine print. You don’t want the unpleasant surprise of learning about a lien after it’s too late.
Last week we discussed the DISC personality types in detail, to better understand the strengths and weaknesses of each.
This week, I’m going to let you in on a little secret to help you identify a personality type in 30 seconds or less. Again, the DISC system isn’t perfect ─ people aren’t always cut and dry and their personality can be a combination of more than one quadrant at once. That being said, I have found the quickest way to identify and communicate to a certain personality type is to think in terms of their animal counterparts.
It may sound ridiculous, but I promise you it works!
While many know the age old phrase, “actions speak louder than words,” here at TSheets we believe that the most important thing behind both actions and words is intelligent thought. Just imagine how many nightmares could have been avoided if people were to first think before they speak! Joining together this week was a group of accounting professionals praised for their ability to think, both within and outside the box. This band of brilliant minds came together this year to discuss trends and issues facing the accounting profession in the upcoming year, as a part of the 5th Annual CPA Practice Advisor Thought Leader Symposium!
In my post last week about How to Communicate with Your Employees Individually – and Fairly we discussed how one of the biggest mistakes you can make as a leader is treat everyone the same.
As a refresher, DISC personality profiling classifies people into one of four quadrants: Dominance, Influence, Steadiness, and Conscientiousness. From a high level, we talked about characteristics that often define these personalities, as well as the jobs each type of individual often excel in. Now let’s take it to the next level to discuss each personality type in more detail. This can lead to an understanding of each individual’s strengths and even their fears and how that can improve communication and ultimately team relationships. Just for fun, I’ll also illustrate how some departments here at TSheets follow these trends too.
iPhone users rejoice! The Crew App for iPhone is now better than ever! We have spruced up the functionality making tracking employees in a group a breeze. Touches to the functionality and ease of use makes this app even more intuitive for crew leaders to manage their groups quickly and efficiently.