by - December 8, 2013 5:09 pm
Looking for a Fort Smith renaissance
Last month my article “We have arrived” focused on a conversation about Fort Smith compared to Pine Bluff and was provoked by a “top ten list” ranking Fort Smith as…
Tag: David Potts
by - November 24, 2013 5:35 pm
What a difference a year makes
This time last year the political rhetoric and conversation around coffee was about the expiration of the Bush “tax cuts.” Most provisions lowering federal income taxes after President Bush had…
by - November 11, 2013 4:33 pm
We have arrived
For years I have been saying in jest that if Fort Smith isn’t careful we will become the next Pine Bluff. We’ve arrived, at least in one ranking. The website…
by - October 27, 2013 5:32 pm
The value of goodwill
Almost every homeowner understands the concept of home equity. Home equity is the money you would expect to be left over after you sold your house and paid off the…
by - October 13, 2013 5:17 pm
The need to control costs
The power of compound interest is one of the first subjects a person is taught when learning about personal finance. Compound interest uses the leverage of time and returns (interest,…
by - September 29, 2013 6:34 pm
Premium assistance
Tuesday is the big day, the opening of the American Health Benefit Exchanges, more commonly referred to simply as the state insurance exchanges. You can expect a lot of chatter…
by - September 15, 2013 7:33 pm
It’s a New Day!
A new day is how the U.S Department of Health and Human Services describes Jan. 1, 2014 “for the 19% of Arkansans who don’t have insurance, or Arkansas families and…
by - September 2, 2013 11:57 am
Listen to the rock star
A couple of weeks ago Bono, the lead singer in the rock group U2 and advocate for the developed world to assist in the economic development of Africa, made the…
by - August 18, 2013 4:10 pm
The right person
According to the math, hiring the right person for a job is more important to a small business’ success than a large business. Here’s the math. An owner of a…
by - August 4, 2013 1:40 pm
A question of value
The meaning of life may be mankind’s greatest mystery, but for a business owner the next greatest mystery might be the answer to the question, “What is the value of…
by - July 22, 2013 12:29 pm
Does It pay to be honest?
Filing an income tax return is a great litmus test of a person’s honesty. Do you report all of your income, some of your income, or none of your income?…
by - July 7, 2013 7:44 pm
Great expectations
Some people are just lucky. A couple of weeks ago I went to Alaska to attend a meeting of my peers. I had never been to Alaska, so I went…
by - June 23, 2013 5:54 pm
Violent execution
Yesterday while reading, I discovered this quote by General George Patton: “A good plan violently executed NOW is better than a perfect plan next week.” His quote caused me to…
by - June 9, 2013 5:14 pm
Casino accounting
I hate gambling. I even hate attending conferences in Las Vegas when I don’t gamble. For me gambling at a casino is a noisy, smoky waste of time and money….
by - May 27, 2013 1:41 pm
Pliers and personnel
The last time Potts & Company hired a person, we were down to two candidates. After sifting through the resumes and checking references, the last step was the personal interview….
by - May 12, 2013 6:15 pm
Porn star dreamin’
“Son, what are your plans after you graduate this month?” “Well Mom, I’m heading to California to be a porn star. I’m going to follow my passion!” If being a…
by - April 28, 2013 5:09 pm
Seek first an exit strategy
I recently heard an attorney say 70% of partnerships end in “divorce.” She didn’t give her source for the 70% statistic, but from my own observations, the majority of partnerships…
by - April 14, 2013 12:52 pm
The April 15 Survival Guide
There are the “haves” and the “have nots”; the haves, the individuals who have already filed their tax returns, and the have nots, those who haven’t filed their income tax…
by - March 31, 2013 7:02 pm
Dear Whirlpool execs and board:
Dear Mr. Jeff Fettig and members of the Board of Directors of the Whirlpool Corporation: I am a CPA and it is tax season. Between January 1st and April 15th…
by - March 17, 2013 3:32 pm
It is almost thievery
Past due accounts receivable has to be one of the most aggravating problems a business owner must confront. As a business owner, you perform the work, incur significant costs, and…