Sponsel Takes Family Out to the Ballgame

Last week, the Sponsel team watched the Indianapolis Indians take on the Toledo Mud Hens. Friends and family joined us in our third-base party terrace. As you can see, it was fun for all ages!

Badger, Parson Join Firm

Sponsel CPA Group is pleased to welcome two new members to the team. Michelle Badger will serve as an administrator in the Tax Services department, preparing individual, corporation, partnership, fiduciary and other tax returns. With a business certificate from IUPUI and 15 years of experience in the field of accounting, Michelle brings a wealth of knowledge to the table. Karen Parson will provide support to the Audit & Assurance Services team, serving as an administrative assistant to Tom Sponsel, Jason Thompson and Mike Bedel. Karen also comes equipped with several years of experience in the financial field. Welcome to them both!

Be Intentional … Take a Vacation

By Brandon Cangany, CPA
Manager, Tax Services

As the summer sun peeks out of the clouds, now is perfect the time to plan a getaway! But are you hesitant to step away from the office and worried about leaving your work behind? With proper notice and planning, there’s no shame in taking a vacation. Just sit down with your manager to work out a schedule and determine who can take over your tasks while you’re gone. They’ll be grateful for the heads-up!

This also applies to you, Mr. or Ms. Business Owner!

It is not only important to reinforce to your workforce that vacations are important, but the business owner should take time away as well. For all the reasons stated below, everyone can benefit from some “R & R” to return renewed and refreshed!

Time away recharges your batteries and sharpens your focus. When you’re deep in the hustle and bustle of the business world, you can lose sight of larger goals and priorities — especially those personal goals and objectives that get lost in the daily press of responsibilities. Amid the rapid flurry of emails and daily tasks, you may forget what is truly important, and you should not allow immediate but less important tasks to take over your calendar! Slowing down helps you gain perspective on your career path as well as your life outside of work. These long-term perspectives grow clearer when you step away from your desk.

Fun with family soothes the soul. Spending time with loved ones is often the best escape from the stress of our workday lives. It’s important to reward yourself and have some fun with those you hold most dear. Time with them will remind you what you’re working for in the long run and the quality of life you’re striving to provide them and the REAL importance they provide to you.

You’ll return to work refreshed and ready to rock! Everyone needs time off. You shouldn’t feel guilty about it. In fact, you’ll be a stronger performer and your business will benefit if you give yourself a break every once in a while. So, kick back, take a load off and come back revitalized! Your respective stakeholders (employees, managers, customers, vendors, etc.) will appreciate your renewed energy and improved ATTITUDE!

If we can assist you with achieving success in your business or personal affairs, please contact Brandon Cangany at (317) 613-7899 or email bcangany@sponselcpagroup.com.

Are You Ready for Your Next Crisis?

By Lila Casper, CPA
Senior, Audit & Assurance Services

As business slows down a bit this summer, now is an opportune time to focus on non-financial issues. Chief among them should be crisis management.

Even when business is booming, it’s important to prepare for the unexpected. As the old saying goes, “If you fail to plan, you plan to fail.”

Every company out there — big or small — should have a Disaster Recovery Plan in place with clear procedures to mitigate major disruptions to their business.

Examples of possible crises to consider include:

  • Natural or man-made disasters that damage or completely destroy the business building and its contents (including business records)
  • Cyber attack
  • Failure of IT technology and inadequate backup of stored data
  • Product recall
  • Employee misconduct
  • Loss of a key employee

During your down time this summer, you should collaborate with your staff in determining the risks you face and developing standard protocols to ensure that your business bounces back from these obstacles. You should not hesitate to bring in an outside risk management consultant. They will see the risks you miss on a day-to-day basis, and they can also share the horrible war stories of companies that incurred a loss and didn’t have a contingency plan to protect them. You should also conduct a review of your insurance coverage to minimize the financial loss exposure. The losses may be great but the physical and mental toll they take on the business owner and managers are much worse!

Here are some of the first steps you should take in the planning process:

  • Determine worst-case scenarios.
  • Calculate the likelihood of particular crises occurring. (This will help you prioritize and determine high and low-probability crises.)
  • Identify what is essential to day-to-day business operations and put systems in place that allow the company to continue running smoothly — such as a backup server for crucial data.
  • Compile contact information for those you would have to notify in the event of an emergency situation.
  • Assign crisis roles to particular departments or individual employees. (For example, you’ll need a spokesperson to gauge media interest and issue press statements in certain crisis situations that would likely garner attention from the public.)
  • Be ready for the worst. Having multiple backup plans is prudent.
  • Your plan should project how quickly you can be up and running, allowing you to recover from various disasters that could harm your livelihood.

In the business world, you should always hope for the best and prepare for the worst. It’s better to be safe than sorry. So, take some time this summer to make sure your business is as sturdy and resilient as it can possibly be.

If we can assist you with achieving success in your business or personal affairs, please contact Lila Casper at (317) 613-7840 or email lcasper@sponselcpagroup.com.

Employee Spotlight — Sue Hott

Sue Hott has worked in the field of banking and finance for more than 30 years. She joined the Sponsel staff in the summer of 2017, and she serves as an administrative assistant to Sponsel partner Lisa Purichia.

In her position, Sue provides support to the departments of Entrepreneurial Services, Employee Benefit Plan Services and Human Resources.

Outside of work, Sue enjoys spending time with her family. (She and her husband are celebrating their 28th anniversary this November.) Alongside him and their two grown children, she loves shopping, kayaking, going to concerts and hitting the road on their Harley-Davidson motorcycle.

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