The Rise of the Remote Worker

As 2020 rolled around, rumors that people in Wuhan, China were getting sick and dying from some sort of new infectious disease was spreading as fast as the virus itself. Before the worldwide pandemic began to fizzle, almost 107 million Americans had contracted Covid-19 and and 1.2 million, sadly, lost their lives. 

The American workforce also lost something…the will to commute to the office. According to one economist, even though the pandemic is officially over the USA, ¼ of workers have no desire to continue working remotely from home. Period. They want the tools and teamwork, are better able to focus on work without the distractions of home life, and really love being in-person. 

This is good news for the bosses and owners who understand that workplace dynamics encourage socialization and community building, which in turn builds better teams and produces higher output. Plus there are the considerations of the investment in millions of square feet of office space in downtowns and office centers in places like Cincinnati, and the complication of measuring productivity and ROI of remote workers.

Small businesses, like those we service, for the most part, have returned to pre-pandemic work routines earlier than the large corporations. The New York Times reported that in March of 2023, 12 percent of U.S. workers were still fully remote, about 60 percent were fully in office, and 28 percent were in a hybrid custom arrangement.

Remote workers are especially valuable in technology, marketing, accounting/finance, project management, medical/health, recruiting, and customer service. If you or someone you know is looking for a “remote worker” position in the Cincinnati area, check out Built In, the online community for startups and tech companies.

Warren and Charlie

When the giants in business, namely Warren Buffet (age 92) and his partner Charlie Munger (age 99), give business advice — we business owners might want to sit up and listen.

paper dollar boat sinking in the sea with a view underwater.
Concept paper dollar boat sinking in the sea with a view underwater. Finance and crisis, a creative idea. Falling exchange rates.

As recalled recent article in Entrepreneur Magazine (Feb 23), Mr. Buffet and Mr. Munger met at a dinner in 1959 and immediately connected. According to Buffet, “Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence.” Often, business partners with opposite but complementary traits and skills are the best partners because opposing points of view can provide a “bigger picture” that leaves no stone unturned.

Charlie once said “You have to keep learning if you want to become a great investor. When the world changes, you must change.” We small business owners are our company’s chief investor, so Charlie’s advice is meaningful for all of us.

Since COVID and current political trends are having an impact on taxes levied on businesses and individuals, staying on course as a small business has been tough. Charlie has something to say about this too! 

“Don’t bail away in a sinking boat if you can swim to one that is seaworthy.” 

End of Year To-Do List

Analyzing your small business’s achievements, failures, and the near misses at the end of the year is the smartest move you can make to assure future success.

At the top of the To-Do list is one too often overlooked: celebrating employee efforts and the patronage and loyalty of current customers. Good will, praise, and thank you go a long way in terms of a winning attitude.

Office workplace with glasses and plant. Notebook with to do list on wooden table from above, planning and design concept.

Equally important is taking stock and honestly evaluating the past year’s performance. Where did you succeed, where did you fall flat? Write it down, analyze what, when and why — then set new goals based on that evaluation.

For a business to succeed, it must consistently meet consumer needs. The most reliable source to explore those needs is right in your Contacts folder: customers are the best source of new ideas. The end of the year is the best time to have those customer conversations. 

Next, look into new innovations that may have not been previously available to your business or industry, and evaluate their potential value to your operation, such as enhanced data analytics, cloud-based human resources, and customer service software like LiveChat. 

If you are happy with the services we provide, we’d love to hear from you. If you know another small business owner who is not satisfied with their current accountant and might benefit from a conversation with us, please let us know.