November 2026
Volume No. 27, Issue No. 12

November has two events for small businesses

November has an annual event, Teach In Day, which is held on November 18 or 19. Apparently, there is no consensus as to which day it is. Schools invite people to come and be a substitute teacher. It is a great opportunity for you to tell these young students about your industry. You can share why and how you got into your business. You can share all the positives (OK, maybe some of the challenges) of working for yourself.

Is this important? Absolutely. As an example, I have met many pharmacists who said the only way they heard about owning their own pharmacy was because they interned with a local pharmacist.

As small business owners, whatever your industry, we need to start with these young people and tell them that owning your own business is an option to be considered.

The second event is Small Business Saturday - November 28. OK, I know it was created by American Express, and yes, it is an attempt to get your small business to accept the American Express card. I do understand the issue of American Express being a more expensive card for a business to accept.

It took only one situation for me to decide to accept the American Express card. A customer came to our business and was in the process of making a very sizable purchase. When told we did not accept the American Express card, he could not complete the purchase as that was the only card he was carrying. He did not come back with a different card. But that afternoon, I did make the call and began accepting the card.

I have read reports that show the American Express customer spends more. My experience agrees. That being said, there is a lot of mention in the media about Small Business Saturday. I think you should consider participating.

Article of the Month - Payroll done backwards

For many businesses as we come to the end of the year, a review is made regarding how money is spent for payroll in the coming year. It is also the time where bonuses are often given. With this month's article we look at payroll from several perspectives.

One of the perspectives is a business I observed in which the annual bonus read just like the story in National Lampoon's Christmas Vacation. (This is a comedy, not a plan to follow regarding bonuses.)

From our personal experiences and observations, we anticipate you will find some valuable information in this month's article.

Article of the Month

Book of the month -
You are a badass: How to stop doubting your greatness

I am currently reading a couple of books by Malcolm Gladwell. One of them discusses the concept of "thin slicing." I see this as being able to make decisions with a minimal amount of time and information. This sounds to me like it is similar to the "gut feeling" we as small business owners use in our business.

You used that gut feeling when you started or purchased your business. Hopefully you continue to use it. Know what? That makes you an exception individual with some very unique talents. People who stop to think about small business owners realize that these owners are great people for what they do. And that is why the book suggestion for November is You are a badass: How to Stop Doubting Your Greatness by Jen Sincero. Hope you enjoy the reading, you awesome person!

Book of the month

Internet Tool for Your Business - 
Sales-to-inventory ratio

For businesses that have inventory, the sales-to-inventory ratio is an important measurement. It does exactly what the name implies. It compares the amount of inventory on hand to your sales. If you perform the calculation based on October 31 numbers of this year, a good comparison would be the October 31 numbers of last year. The sales-to-inventory ratio is a good measurement to make sure your inventory is not too thin or is not excessive.

Each month we highlight one of the 47 free tools on the Profits Plus website; we call them "calculators". While some provide analysis by numbers and ratios, some are assessments and others are self-examination questions. Many are downloadable while others, because of the complexity of the calculations going on behind the scene, are a part of the website and allow you to print your answers. None of them require you to give any personal information nor are there any "cookies" tracking you or your information.

Internet Tool for Your Business

Staff Incentive for Your Business - 
How about a pie?

November seems to be the month that, if it had a theme, it would be thankful. Yes, I know for my Canadian friends that Thanksgiving has passed. If fall is to be experienced wherever you live, surely you have enjoyed some temperature change. And if you are retail, it is time to buckle down for the Christmas selling season.

It is a great time to say thanks to your staff in a small way. Perhaps a local diner has great pies. How about a gift card to be given to each employee to receive a free pie at that local diner? It is a nice gesture on your part, and a way to introduce your employees to a diner they might not have previously experienced. Most importantly, it is a way to show you are thankful to, and for, your employees.

We want to recognize A Carrot A Day by Adrian Gostick and Chester Elton, whose book provides the basis for each month's incentive idea.