Everything you need to know about setting up, managing and growing small businesses. Veterans, as well as newbies share their stories and valuable lessons.

the ceo magazine

In the past six months, I have visited four high-end hotels where the waiter informed me that they were out of English Breakfast Tea, the beverage that provides the perfect cup of ambition to start my day. Instead, the waiters advised I should try Earl Grey Tea.

Earl Grey Tea takes its name from the second Earl Grey, British Prime Minister in the 1830’s, who reputedly received a gift of tea flavored with bergamot oil from a Chinese nobleman. The Earl brewed some of the heavily-scented, flowery- tasting swill and remarked, “I say. This is rather nasty.”

the ceo magazine, entrepreneurship
James Sun, CEO, Pirq

“The joy is in the journey and not the destination.” When I hear this quote, I think about the roller coaster ride of entrepreneurship, where you have to enjoy the journey. I am currently the CEO and founder of Pirq, a digital loyalty and customer relationship management system for brick-and-mortar businesses. Pirq helps local businesses capture customer data and grow loyalty, increase spend amount per visit and expand the frequency of visits all through a digital punch card on the smartphone.

ceo magazine
Gary C. Smith, President, NAEIR

Excess, nonmoving inventory is a common business problem that, fortunately, also contains its own solution.

By donating that new, idle merchandise to charity, your business can earn a federal income tax deduction under Section 170 ( e )(3) of the U.S. Internal Revenue Code.

The IRS Code says that regular C corporations may deduct the cost of the inventory donated, plus half the difference between cost and fair market value.  Deductions may be up to twice-cost.



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