Author: Justin Luke

The effects of Obamacare on small business. Hmmm. A stickler for English composition, it pains me to begin an editorial article with a fragmented sentence. Nor did I really think a productive next thought would be “Hmmmm.” Much to my chagrin, though, these things have now happened, and much like the passing of the new health care bill into law, I cannot undo them. For this, I’ll simply move on to the immediate question at hand.

Which… exactly… are the elements with which we, the small business owners and self-employed, should most be concerned? In the very least, what are the elements of the bill over which we should be demanding more clarification (so much for the promised transparency)… and then wondering about? Again, it comes to mind: Hmmm. Well, as murky as the waters are…. Let’s dive in and taker a look, shall we? It’s probably best if we all keep our eyes open once inside.

Higher Labor Costs

If health insurance is now required for all business employing above X number of employees, then a rise in costs for that small business is little more than a deduction by way of simple math. Indeed, the equation, as simple as it may seem, can produce potentially crushing numbers as a result.

A small business may find itself experiencing growth- a result of great luck, timing, sharp acumen or a combination of any or all of the three. Either way, it’s weathering the tumultuous economy and slowly climbing upward and outward. Still treading carefully, our company realizes that, in order to keep up with growth comes the need to expand the work force. Suddenly our small business finds itself employing the minimum number of employees (as designated by the health care law) required to receive an offer of health insurance on the part of the employer.

If this were a cinematic comedy, this would be the point where an abbreviated story line would state: mayhem and shenanigans ensue. Unfortunately, carrying much more somber tones, this business is the livelihood of a small business owner and the few people who helped build the company.

And now our small business has some choices.

Do not increase the work force, avoiding government mandates, but also restricting or possibly even eliminating the ability to sustain growth.

Increase the work force. Along with increased payroll expenses, prepare for expenses related to additional tax procedure, compliance procedure and, of course, the actual costs of the newly required insurance. Hope that promised tax breaks compensate for negation of profits and possible losses.

Tragically, the best choice is sometimes the lesser of two evils. A question I firmly believe we need to be asking is: Is this where millions of small businesses are headed?

Costs for Existing Health Care

With respect to just how existing health care costs will be affected under Obamacare, the debate is far from over. Supporters will stand by the law, stating that, over a period of time, costs will lower. Opponents to the bill express concern over insurance costing more out of basic necessity. The costs of providing insurance for 25-35 million additional people must raise existing premiums. (Disclaimer: I am not an economist by education or trade. However, I hesitate to submit that such a title would be required to grasp that, when there are new costs where there were once none, said costs will require payment at some point in the future. At least, I think that’s how it works.)

Pay Raises?

Will a business owner with a conscience consider that his or her newly grown work force needs increased earnings in order to pay for the insurance they’re now required to purchase? If so, be sure to add “increased payroll” to the list of expenses for a business providing insurance. If not, a small business chances losing employees to another company that will, in fact, offer higher pay.

The Cost of Hiring the “Insurance Police”

Keeping on the track of health care bills (Oops… I mean “laws”), costs and consequences, allow me to touch lightly and briefly upon one element of the new law, wherein the Internal Revenue Service has been assigned to “enforce” compliance by way of “taxes” levied against those who are not compliant. I can’t begin to express how disturbing this is, and just how murky the waters become here, but let’s do keep this civil, and solely about finances.

With a forecast of 17,000 new positions needed to undertake this new assignment, the IRS is on track to spend 5 billion dollars per year in operating expenses. It should be noted that nowhere in this health care bill is this 5 billion dollars allocated for our new health care police. Nor does anyone seem to have a solid explanation as to from just where these funds are supposed to come.

Oddly, I just found myself back at “Hmmmm”. And back at my fragmented thought: The effects of Obamacare on small business. Sadly, this phrase comes to me as a stand alone thought simply because, with so little transparency, so many hidden and unpublicized agendas contained within the law, and such a divided opinion… it’s simply not easy to apply the phrase to a quasi-complete, somewhat thought-out opinion. Oh wait. Is that what I just did here?

The work-from-home dad’s every waking minute is a juggling act between what’s very important, working from home to provide for his family, and what’s most important, that family. With the clear distinction between work and home gone, the work-from-home dad now has to find his own dividing line and then try to keep from crossing it too many times.

If you’re going to be a work-from-home dad, some boundaries have to be set. Boundaries not just for the work-from-home dad, but also for the family. Though dad’s primary responsibility may be his family, working from home to take care of the family is part of that responsibility and not secondary to it. Family members must understand that even though dad is working from home, he is not available to solve every problem, mitigate every squabble, or help with every task demanding a man’s touch.

This said, fatherhood is the work-from-home dad’s primary responsibility, and he needs to make sure that when he is off duty, he is not still focused on work. A few guidelines set out and understood by all involved will help the work-from-home dad find a balance between work and home.

Set clear work-from-home hours so your children know when you are available and when you should not be disturbed.
Leave the office when your time is up, and become the stay-at-home dad instead of the work-from-home dad.
Gently remind your children that you are working, and make sure that they understand that you are working from home to take care of their needs and you are not trying to ignore them.
If the mother or other caregiver is not present to meet the child’s needs while you are working from home, allow for more interruptions and work from home when the children are occupied with their own tasks. Children need parental attention, and although you may feel like you are doing what’s best for them by providing for their needs, ignoring them will lead to unpleasant consequences in the future.
Don’t feel like you must control what goes on in your home and at your job as you work-from-home. As your children grow and mature, offer them some autonomy in deciding how they accomplish their chores and how they spend their free time. Make your expectations clear, and as long as they are not disruptive or dangerous, allow them some independence and see what they do with it. They will be happier and you will get more done as you work from home .
The work-from-home dad’s job is a challenging one as he tries to balance work and home. With some guidelines and clear expectations that everyone in the family understands, working from home can be a great experience and a profitable enterprise. If you’re struggling trying to balance work from home and fatherhood, make sure you’re not trying to do both at the same time. And make sure that each role is getting the undivided attention that it deserves.

The success of your online business is all in your head. I’m serious.

If you believe you deserve success and prosperity, they will come to you more readily.

Sure, you still need to work hard and make strategic decisions about your online business, but you need more than hard work to achieve financial independence.

One important element of changing your mindset is setting goals for yourself.

It can be tough to see the forest for the trees when you’re running with your head down working to make your business a success.

To stay focused and help keep you on the right track, you need to set both personal and professional goals.

The trick to goal setting and getting into a prosperity mindset is to visualize what you want to achieve with your online business.

Once you do this, you will be better equipped to outline realistic ways to help you achieve these goals and keep yourself in a prosperity mindset.

Seeing it really is being it. By visualizing the world you want to inhabit, you’re far more likely to wind up there.

For me, mindset was never more important than when I was a marine. It’s a life full of hard work and rigid rules, and if you’re not in the right mindset, you won’t succeed.

Hell, you won’t even survive.

The same holds true for you as an online business owner.

Being your own boss can seem like the greatest thing you could ever do for yourself. Then you start your online business and realize it’s hard work and can be very lonely.

So, what do you do?

Well, you have a few choices here.

You can keep your eyes on the prize and focus on your goal of financial independence, or you can throw in the towel and head back to your low-paying job.

I completely understand those momentary lapses when you think you can’t do it and you want to pack it in.

Where people who stay in this mindset lose me is that this is completely unproductive.

Life’s tough, and the sooner you develop the coping strategies to get past rough patches, the more prosperous you’ll be.

You’re not alone in the crazy online business world, so don’t isolate yourself. Seek out people who’ve adopted the prosperity mindset and stick with them.

While they say misery loves company, I think the opposite is far more true.

When you surround yourself with successful people, you’re likely to be a success yourself.

A prosperity mindset draws a line in the sand between you and those who work hard but hate what they do.

This is because your attitude affects every aspect of your business, from your personal brand to the way you interact with people one-on-one.

People don’t want to be near you if you drag them down and will do everything they can to avoid you, and you’ll never achieve your goals.

However, when you’re in the prosperity mindset, you believe good things will come to you, and you’re more likely to attract success.

To that end, those steeped in the prosperity mindset understand that this isn’t only about them.

You need confidence and a prosperity mindset to empower your online business network, be a mentor, and give good counsel to customers.

Those who lack confidence in their online businesses are often difficult to work with and may even avoid interaction with others.

It’s all very cyclical. If you are in a prosperity mindset and empower those in your sphere of influence, they will be more successful as well.

This, of course, increases your wealth from your online business, too.