Welcome!
I'm Tami Parks, fourth-generation entrepreneur and small business person. I love small business and consider it the heartbeat of America's marketplace. My family has been involved in real estate, service, and retail; we're just regular people who have a passion for serving others and being our own bosses.
My husband and I have made a committment to run our business, Great Lakes Wedding Gown Specialists, LLC, as a debt-free business. This blog is our accountability partner!
In the past 30 years, I've seen many small businesses come and go. Many of the owners of these small businesses sought counsel from various members of our family, so from a young age, I was able to hear alot of what to do and what not to do if I wanted to keep a business going.
Of course, we all know that there are many factors involved in a business' success. Sometimes, it seems like just dumb luck that allows one person to stay in business while another closes up shop.
But, I will share with you today one of the most common things that causes a small business to fail.
Not Paying Your Taxes.
In our business, my husband takes care of filing our paperwork and paying our taxes. Because part of our business is retail, we collect sales tax from our customers and pay it to the state government once a month. It's always shocking how quickly 6% of sales can add up! There are also the payroll taxes that are withheld from our employee's paychecks and also paid to the state and federal governments monthly. Property taxes...income taxes...the list continues!
It is very easy to spend these taxes while they are sitting in your checkbook, before they are due to be paid to the various government entities. You'll pay yourself back, right? DON'T DO THIS!
Set the taxes aside or hide them in a totally different account! Additionally, set aside 25% of any net income that your business realizes for your personal income tax.
You will put yourself out of business very quickly if you are not very diligent about paying your taxes on time!
It's Thanksgiving Day and I'm relaxing with my family and counting my blessings!
So, why am I blogging about business?
One of the biggest blessings in my life is my business and I'm thankful that God has given me the opportunity to do what I love; bless my customers,and work with a wonderful team of employees and fellow vendors.
I am thankful for my parents, who taught me how to serve customers and the nitty-gritty of fabrics & clothing care while I grew up in the drycleaning business.
I am thankful for my husband, who gives me unmatched support and encouragement.
I am thankful for my beyond-fabulous assistant and manager, Rachel, who keeps September's Bride running!
I am thankful for my entire September's Bride, EVENTS by September's Bride, and Great Lakes Wedding Gown Specialists team... Rachel, Bernice, Sherry, Julie, Mallory, Michelle T., Michelle E., Monica, Megan, and Tania!
I am thankful for each and every customer and bride that God has sent our way. It's truly an honor to serve!
I am thankful for health, strength, and knowledge that allows me to work.
I am thankful for business associates and fellow vendors who generate a spirit of cooperation and fun in our little area of the biz!
Psalm 37:4 "Take delight in the Lord, and He will give you the desires of your heart"
