Pro ShopProfessional Woodworkers Sharing Business Strategies
Keep it simple and check your ego at the door
Written by David Getts Monday, 20 May 2013 00:00
You are probably familiar with the saying, “Jack of all trades, master of none.” This refers to someone who is adequate at performing many tasks, but not an expert in anything. There’s nothing wrong with being that way, but it does limit how far you can go in a specialized profession.
When it comes time to wind down business
Written by Lloyd R. Manning Monday, 15 April 2013 00:00
For many woodworking shop owners, the enthusiasm that propelled them for many years is not what it once was. Age has taken its toll. You could be thinking that perhaps it is time to move on or sell out and gallop off into the sunset. However, often that creates a problem. Finding a buyer who is ready, willing and has the wherewithal to do so is seldom easy. Obtaining what could be considered a fair price with equitable terms could prove still more difficult.
What do the new tax laws mean for you?
Written by Mark E. Battersby Monday, 18 March 2013 00:00
The so-called “fiscal cliff” tax package recently signed into law renewed more than 50 temporary tax breaks through 2013, saving individuals and businesses an estimated $76 billion. On the downside, employees are already finding less in their paychecks because the American Taxpayer Relief Act did not extend the payroll tax holiday that had reduced Social Security payroll deductions from 6.2 percent to 4.2 percent on earned income up to the Social Security wage base ($113,700 for 2013). It is a similar story for the self-employed worker.
Joinery juxtaposition
Written by John English Monday, 18 February 2013 00:00
Mortise-and-tenon, dowel and dovetail joints have been tested through the centuries and have proved their worth. In the mid-1950s, joinery departed from the traditional when Swiss woodworker Hermann Steiner invented Lamello biscuit joinery, and in 1986 it took another big step when Craig Sommerfeld came up with the Kreg pocket-hole jig. Since then we’ve seen a series of attempts at improving the way that we stick two pieces of wood together.
Income offsets vital to staying in business
Written by Mark E. Battersby Monday, 21 January 2013 00:00
Thanks to today’s tough economy, more and more shop owners are seeking additional sources of revenue. Often it’s from hobbies and secondary activities. Not only will our tax laws partially underwrite those activities, but the almost inevitable losses can be as beneficial as extra income.
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