The Five Capitals - A Cheat Sheet

In my book Five Eyes on the Fence, I propose a way to look at what businesses, families

and people really possess in terms of “capital.” The success or failure of a business lays in understanding the potential and actual consequences of more than financial capital. In fact, there are four other capitals that might be even more consequential than money. The interrelationship of these four capitals—sometimes coupled with financial capital—is what actually produces expansion or contraction of financial capital.

The financial consequences of a business owner’s decisions are driven by:

• Human capital—Who are the owners? What are their intelligences, instincts, and values? This is important because every decision is knowingly or unknowingly a manifestation of the value set of the business, family, or individual.

• Social capital—Who do the owners know and work with? When they are intentionally nurtured, these relationships can be leveraged for opportunity.

•  Intellectual capital—What do the owners and other members of the company know? Are their gaps in knowledge that could be closed to strengthen the product or service?

• Structural capital—What processes do these people use to accomplish things?

In short, all the decisions surrounding these four capitals will either subtract from or enhance financial capital.

This blog also appears in Our Two Cents on rsjcpa.com 

Risks to Avoid When Outsourcing Payroll

Outsourcing your company’s payroll has many of benefits, but many pitfalls as well.   I recently contributed to an article on Business News Daily on avoiding these risks. Read the article here. 

I'd like to thank writer, Brittney Helmrich for including my thoughts in her article.  

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I recently had the opportunity to chime in on this subject for an article in Business News Daily.   If you’re thinking about outsourcing your company’s payroll this may be helpful. And, as always, we are here to help answer questions you may have.

Credit: Krasimira Nevenova/Shutterstock

Every business, no matter how small, needs to process payroll, and deciding how you want to manage payroll is an important step.

While some small business owners prefer to do their own payroll in-house, there are many benefits to using a payroll service. With so many options to choose from, however, finding the right one can be overwhelming.  >> Read more

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