April 28, 2024

Independent Contractor vs. Employee

Did the DOL Make It Any Easier to Decide? Most employers are at least aware of the issue of independent contractor versus employee. But making the determination has never been clear. In 2021, the U.S. Department of Labor announced a final rule clarifying the standard for independent contractor versus employee under the Fair Labor Standards Act (FLSA). That may sound encouraging, but it is doubtful that the actual rule and background information consisting of more than 1,200 pages makes the designation any easier. The rule only clarified the factors to consider that are still open to interpretation. Why does this designation matter? There is a financial incentive to declare a worker an independent contractor. But declaring that designation does not make it so under the law. If a worker is deemed to be an independent contractor, the employer is not […]
March 28, 2024

Ask the Analyst: Navigating the Slow Days of Summer in the Funeral Business

As we guide our clients through the second quarter of the year, the question of seasonality arises as we get closer to Spring and Summer. We asked Financial Analyst, Luke Potter to share his insights on how to set your business up for the slower days of the summer months. Question: “How can we strategically position ourselves for when we approach the slower days in the upcoming months?” Luke Potter: The funeral business is one that operates in a realm where seasons may not always follow the typical patterns observed in other industries. Although the funeral and cemetery profession is not entirely predictable, there are strategies funeral home owners and cemetery operators can employ to navigate the slower days of summer effectively. Your Business is Your Baby Treating the business as if it were family is an essential principle to […]
March 28, 2024

Ask the Owners: What Sets a Business Apart?

Are You Part of the Death Care Industry or Are You Part of the Funeral Profession or Are You Playing in the Middle of the Road? In our next installment of Ask the Owners, Diann Anderson, formerly of Anderson Funeral & Cremation Services asks you to consider what category your business model falls into.  She encourages you to pick one lane and get out of the middle: What sets a business apart?  What drives a consumer to choose one business over another business that operates in the same sector?  When it comes to purchasing real estate most everyone agrees that the biggest determination of a property’s value is “Location… Location …Location …”  Of course, there’s many more factors that must go into the decision, but most realtors agree that location is one of the most important aspects of a property.  […]
March 28, 2024

Plan + Execution = Success

In the January issue of The Director, I wrote about the importance of planning, awareness and accountability as the bedrock of your business success in 2024. Having a plan is the first critical step. Next, and most important, is execution – putting a predetermined course (your plan) into action. It means carrying out tasks, activities and steps outlined in your plan to achieve your goal(s). If you don’t do those things, your plan will likely fail. In other words, a well-crafted plan is just the beginning. Its true power lies in the commitment and discipline necessary to make it happen. Execution marks the real difference between success and failure. Clearly Defined Roles The key starting point is laying out clearly defined goals about what you want to achieve. Make sure they are specific, measurable, achievable, relevant and time-bound, i.e., SMART […]
February 29, 2024

Ask the Analyst: Don’t Get Caught Without a Plan

As we collaborate with our clients on their business operations, one of the components that we always factor in is creating a proper your succession plan early so that you are prepared well in advance of your transition out of the profession. Planning for your future now is vital. We asked Senior Associate, Jarod Bernat to share his insights on how the importance of a succession plan for a funeral home or cemetery business. Question: I do not have a succession plan for my business created yet. Do I really need one? Jarod Bernat: It often seems that within our profession, “planning for the future” takes on a different meaning than it does to the rest of the world. The funeral and cemetery profession is dominated by devoted servants to their communities who plan their lives and their businesses one […]
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