Tim Kinane


Interesting Items

Friday, September 4th, 2020

Top 10 Signs You Are Not Ready to Sell Your Company

Navix e book

Between COVID-19, a recession, and the aging of the US Baby Boomers, the number of business owners seeking to sell their company at exit will only increase in the future.

While every company is unique, there are ten universal signs that indicate if your company is ready (or not) to sell and maximize value. Our newest White Paper, Top 10 Signs You Are Not Ready to Sell Your Company, presents these ten signs, and just as importantly provides guidance and resources on how to prepare for a successful sale.

Click here to download this complimentary resource from NAVIX.

Contact Tim 772-221-4499, to discuss strategies for your business.

Navix people meeting

Friday, August 14th, 2020

Maximizing Company Value: Tracking EBITDA During COVID

By: Patrick Ungashick

Work from home

If your exit strategy is to sell your company one day for the maximum value (perhaps as soon as possible once the COVID-19 recession is over?), then it is essential to track your company’s EBITDA accurately. (Read our previous article about EBITDA and how it directly impacts your company’s valuation at the sale.) However, the COVID-19 pandemic and economic recession have significantly altered many companies’ financial results and condition. The virus is causing many companies to experience “abnormal” changes to revenue, costs, margins, labor, debt, and other financial and operational factors. Many companies are experiencing negative changes such as lost revenue and profits due to the virus’ impact, while others are experiencing positive demand for their products and services. Either way, the virus is altering many company’s financial results, which means adjusting the EBITDA. Some of the changes are temporary (non-recurring) and expected to revert to pre-COVID-19 conditions at some point in the future. Other changes may be more permanent.

When you decide to sell your company, it will be crucial to have accurately tracked your EBITDA and its changes through these unusual and unprecedented times. Potential buyers will want to know how COVID-19 impacted your company’s financial performance. They will also want to be able to clearly and readily convert your company’s financial results to show how the company likely would have performed during normal operations and market conditions. Because buyers typically ask for five years of historical financial reports, it is essential to track EBITDA now whether you aspire to sell your company quickly or anytime within the next five or so years.

There are many ways COVID and the recession may be creating unusual changes within your company’s financial results. Below are some of the more common issues that you and your management team may need to address:


1.Temporary Increases / Decreases to Revenue or Profits
Due to COVID-19, some companies may see a surge in demand for their products leading to an increase in revenue and profits. Examples might include companies dealing with products or services in the following areas: medical and health, cleaning and sanitary, home entertainment, transportation, and delivery services, and other industries. Conversely, other companies may be experiencing a reduction in the demand for their products or services, leading to lost revenue and profits. Examples include markets such as hospitality and leisure, travel, luxury goods or services, and others. In these situations, you and your team should monitor demand, revenue, and profits to identify how much, of the lost or increased volume, relates to the current conditions and is not expected to continue after the virus and recession have passed.


2.Business Facility Disruption
Many companies were forced to close facilities such as offices, manufacturing plans, distribution centers, etc. due to COVID-19. These disruptions likely result in lost EBITDA. Owners and their management teams should, track any business disruptions and document the duration and root causes, to facilitate analysis of the company’s financial results for the periods before and after the relevant shutdown. Additionally, track operating expenses that were reduced or not incurred when determining the normalized EBITDA.


3.Expenses to Support Remote Work
Many businesses incur increased expenses associated with the shift of workforces from company facilities to work-from-home (WFH) routines. Examples of these costs include improved information technology (IT) expenses and equipping employees with additional computers and other equipment and supplies to support remote work. Owners and their teams should identify and track these expenses and purchases to support remote working. Also, track any positions likely to remain WFH going forward.


4.Reduced Employee Compensation and/or Headcount
Many companies severely impacted by COVID-19, and the current recession have reduced employee compensation, and/or reduced employee headcount through lay-offs or furloughs. Owners and their teams should track employee compensation and headcount pre-COVID-19 and post-COVID-19. Also, consider any costs associated with severance payments and other employee termination costs. Use this information to normalize the company’s EBITDA for the period.


5.Increased Bad Debt Expense
Many companies are experiencing an increase in aged accounts receivable (A/R) as customers delay payment due to the virus and recession. Also, other companies may be experiencing increases in bad debt expense resulting from customer bankruptcies. Business owners and their management teams should closely monitor A/R aging and collections to stay in front of any potential issues with customer payments. 
Careful consideration should be given to modeling future customer revenue for specific lost customers and plans to recapture lost revenue by channel/geography.


6.Stretching Payments to Vendors
In an effort to conserve cash, many companies are stretching payments to vendors, landlords, leaseholders, etc. This practice leads to increases in aged accounts payable (A/P) and higher A/P balances. In some situations, stretching payments can result in lost early pay discounts if previously available and utilized. Carefully monitor the business’s payables, consider normalizing higher than usual A/P balances and significantly aged payables, and impact to EBITDA.


7.Government Loan and Bailout Programs
Since the COVID-19 crisis first hit, many companies have taken advantage of various government loan and bailout programs which are not normally utilized in the regular course business. The most widely used program among small to mid-market companies has been the Paycheck Protection Program or PPP. These programs invariably have stipulations such as retaining certain levels of employees and their compensation, and other expense management requirements. Business owners and management teams must consider and normalize the impact of any loan or bailout programs on the company’s earnings and consider normalizing the impact.


The seven items listed above represent only some of the more common issues that companies may be experiencing due to COVID-19, which alter EBITDA. There are many additional issues to monitor and track, such as changes to the company’s: pricing of its products and services, discretionary expenses, cash management practices, business development operations and results, employee attendance, and absenteeism. Ultimately, owners and management teams need to study and accurately track the company’s EBITDA and other financial results during these unusual times. Staying on top of these issues is essential not only for the effective leadership of the company but also for correctly positioning the company for sale when that day comes.

Contact Tim 772-221-4499, to discuss your specific EBITDA questions or your overall exit plans. If you intend to sell your company as your exit strategy, consider registering for our webinar “Eager to Sell Your Company when the Market Returns?” . During this webinar, we will discuss the steps that business owners need to take now, to position the company for sale and maximize value when market conditions return to favorable.

Wednesday, August 12th, 2020

Eager to Sell Your Company When the Market Returns?

About this Webinar

Eager to Sell Your Company When the Market Returns?

August 25, 2020, 2:00 pm Eastern



The COVID-19 virus presents an ongoing public health threat. It has sent the US economy into recession and created an unprecedented challenge for many businesses. It is also causing many business owners to re-assess their exit plans and move them up in many cases. This webinar will address the many questions business owners are now asking about how to navigate these times and be ready to sell the company once favorable conditions return. In this presentation, we will specifically address:

  • How has COVID-19 impacted M&A markets?
  • What if you want to accelerate your exit timetable?
  • What must you fix in your company to be ready to sell (and what can you get away with not fixing)?
  • How do you know if your company is ready to be sold?
  • How do you know if you are ready to sell?
  • Biggest mistakes to avoid in your exit plans

If you are a business owner planning on selling your company, join NAVIX founding partners Patrick Ungashick, Chris Rowen, and Trey Prophater for this critical update and discussion.

Webinar Presenters:

Presenters 2020 8 25

Contact Tim 772-221-4499, to discuss strategies for your business.

Thursday, June 25th, 2020

How Leaders Inspire Even in a Time of Crisis

I’m sharing a recent Inc. Real Talk Business Reboot Webinar with Simon Sinek.

Learn how to embrace an infinite mindset and strategies to lead your team through these difficult times and into the new Abnormal.

Inc SS


Inc. Real Talk Business Reboot:
Leading  Through Times of Crisis and Change

Sinek teaches leaders unconventional ways of thinking, acting, and communicating to help inspire those around them. He believes great leaders are the ones who think long term rather than short term. In today’s ever-changing world, knowing the framework for leadership is more crucial than ever.

What tools and strategies are you using to lead your team through these challenging times?

Tim Kinane

Call 772-210-4499 to set up a time to talk about tools and strategies that will lead to better results.

Please share this with a friend/colleague



Tuesday, June 9th, 2020

SBA PPP How to Maximize and Beyond

I was a guest speaker on the inaugural Small Talk online series for the Business Development Board on Martin county.  The interview is from late April and the key points remain valid as businesses transition back to a healthier economy.

The topic was How to Maximize Your Loan Funds.  Along with reviewing how to best use SBA PPP funds, we discussed what to consider moving forward.



Key take away points:

SBA PPP Funds:

Keep communication open with banker and CPA.

  • Be proactive
  • Review options
  • Ask questions
  • Document expenditures
  • Consider immediate and longer-term cash needs
  • Multiple cash flows


Keep communication open with vendors:

  • Terms
  • Vendors are partners- you want them to be there to get you back on track


Businesses are resilient.

Generally, businesses need to find a way to react quickly to an issue or problem.

  • How much money is needed
  • What is the best way to spend money now
  • How to make the next immediate decision

That is great during the time of crisis, but it is important to think future down the line.


They are the one who helped to build your business to where it is now, they will be vital  to re-build your business.

Keep in contact- keep communication open.


Opportunities in times like these

Resilience of people in general, Americans and Small Business

Small Business is the engine that runs this country- Small Business is what will bring the economy back.

  • Step back from the problem
  • Explore all new opportunities as you move forward
  • Challenge employees and help them find opportunities

Contact Tim 772-221-4499, to discuss strategies for your business.

Monday, June 8th, 2020

PPP Loan Forgiveness Just Got Easier

By: Patrick Ungashick

Sick Dollar


To help our clients and other business owners and leaders respond to the unprecedented leadership disruptions caused by the coronavirus (COVID-19) outbreak, the team at NAVIX offers the following crisis management information series.

Responding to Coronavirus: PPP Loan Forgiveness Just Got Easier

On June 5th, the new Payroll Protection Plan Flexibility Act (PPPFA) was signed into law, with the purpose of making it easier for companies with PPP loans to secure loan forgiveness. The new law was passed in response to widespread confusion and criticism surrounding the rules pertaining to loan forgiveness. The new PPPFA law is intended to provide greater flexibility to the loan forgiveness process, in order to help the millions of businesses and their owners survive the economic challenges created by the virus.

The important PPP loan forgiveness changes are:

1. More Time to Spend the PPP Loan Proceeds

The most significant change is that companies now have more time to spend the loan proceeds. Before the new PPPFA law, borrowers had only eight weeks (called the “covered period”) starting upon receipt of the loan to spend the funds. That pressured many companies to spend PPP funds more quickly than would best help them through the coronavirus crisis. Now, borrowers have until the earlier of either: (1) 24 weeks from the loan origination date, or (2) December 31, 2020, to spend PPP funds.

However, under the 24-week covered period, companies will have to maintain the number of FTE employees for about three times longer (24 weeks instead of eight weeks) to maximize loan forgiveness. To help employers address this, borrowers who received PPP funds before June 5th (when PPPFA was signed into law) can opt to remain with an eight-week covered period, if advantageous.

2. More Flexibility for How PPP Proceeds are Spent

The next important change is that the new PPPFA law reduces the amount that companies must spend on payroll costs to qualify for loan forgiveness. Previously, PPP borrowers had to spend at least 75% of the loan proceeds on eligible payroll costs. Under the new law, companies must spend at least 60%. This means that forgivable non-payroll expenses can now be up to 40% of spending, increasing from 25%. 

PPPFA also clarifies if borrowers are required to spend a minimum amount of loan proceeds. The new law clearly states that in order to be eligible for any forgiveness, a borrower must spend at least 60% of its total PPP loan proceeds towards payroll costs as defined under the CARES Act. Meaning, a borrower is not eligible for any loan forgiveness if it spends less than 60% of its total PPP loan amount.

3. More Time to Pay Back the PPP Loan

Another critical change is that borrowers now have five years, an increase from two years, to repay the PPP loan. The loan interest rate remains unchanged at 1.0%. 

4. Extended Safe Harbor to Preserve PPP Loan Forgiveness

The new PPPFA law expands the opportunities for employers who experience a reduction in employee headcount or wages/salaries to maximize loan forgiveness through several means:

  • Initially, PPP provided a “safe harbor” which permitted employers to avoid a reduction in loan forgiveness due to a significant decrease in employment and/or wage levels between February 15 and April 26, 2020, as long as the numbers of employees and employee wage levels are restored by June 30, 2020. The PPPFA extends this safe harbor restoration deadline from June 30 to December 31, 2020, giving employers six additional months to preserve loan forgiveness. 
  • PPPFA clarifies that loan forgiveness will not be reduced based on an inability to rehire employees if the borrower can document (1) written offers to rehire individuals who were employees of the organization on February 15, 2020; or (2) an inability to hire qualified employees for unfilled positions by December 31, 2020.
  • Loan forgiveness will not be reduced for borrowers who are able to document a failure to return to the level of business activity as existed prior to February 15, 2020, due to compliance with coronavirus-related guidance for sanitation, social distancing, or safety requirements from the Health and Human Services (HHS), the Centers for Disease Control and Prevention (CDC), or the Occupational Safety and Health Administration (OSHA) between March 1 and December 31, 2020.

5. Potential Longer Deferment of Loan Repayment

Additionally, PPPFA extends the loan deferment period for many borrowers. Under the previous rules, borrowers could defer loan interest and principal payments for six months (although interest does accrue during the deferment). Now, borrowers can defer payments until the SBA determines the loan amount forgiven for that borrower. Given the new 24-week covered period, and given that lenders have 60 days to act and the SBA has 90 days to determine loan forgiveness, this could significantly increase the deferment period for many companies. However, PPP borrowers cannot just stall filing their loan forgiveness application in order to extend the deferral period. If a PPP borrower fails to apply for forgiveness within ten months after the PPP loan forgiveness covered period (which is now the earlier of 24 weeks from origination or December 31, 2020), the deferment period ends, and the borrower must begin making loan repayments.

6. Payroll Tax Deferral Expanded

Previously, companies that secured PPP loan forgiveness could not defer their employer share of payroll taxes. The new PPPFA law now allows all borrowers that receive loan forgiveness to defer payment of employer payroll taxes under Section 2302 of the CARES Act. (The payroll taxes typically due between now and through December 31, 2020, may be deferred with 50% payable by December 31, 2021, and the other 50% payable by December 31, 2022. Similarly, a self-employed taxpayer can defer paying 50% of his or her self-employment tax that would be due from now through the end of 2020 until the end of 2021 [25%] and 2022 [25%].)

However, keep in mind that this payroll tax deferral is different from the CARES Act employee retention tax credit. The PPP and the employee retention credit are still mutually exclusive, and companies may not apply for one if they use the other.

PPP Loan Forgiveness Application

To secure loan forgiveness, borrowers must complete and submit to their PPP lender the Small Business Administration (SBA) loan forgiveness application. Borrowers should carefully review the 11-page application, and consider the various definitions and options under the loan forgiveness process. Business owners are encouraged to consult their tax and banking advisors. 

The NAVIX team has helped hundreds of business owners prepare for exit. We have also helped countless owners and leaders deal with recessions, liquidity crises, and economic upheaval. Our experience and perspective enable us to guide our clients through difficult times, such as these.

Contact Tim 772-221-4499, to discuss strategies for your business.

Thursday, May 28th, 2020

Communicating in Times of Crisis  Part 2- D Style

As we continue living in highly stressful times; I hope this message finds you well.

Now that so many of us are working remotely, we are finding communication much more challenging. Even with video conferencing tools, it is still difficult to observe and process all of the nonverbal cues that we used to depend on for communication with coworkers, customers, and vendors.

This is part 2 of Communicating in Times of Crisis- focusing on the D Style in the Team Strength DISC Tool.



A decisive and ambitious person can become more aggressive and confrontational when things are out of control.

EIQ individual profiles hi low D


D Style

  • decisive

  • ambitious

  • results driven

  • likes being in charge

When we identify and control what is likely to stress us we can better react with thoughtfulness.  (That is a good time to take a nice, deep breath.)

It is OK to understand and accept that we are under stress and not in a comfortable place.  That will start to refill our emotional bank account when we need it most.

D Style

Emotional/Reactive: “If you can’t stand the heat, get out of the kitchen.”

Thoughtful: “I understand this is stressful. Let’s focus on what we CAN control.”

When we can get our own emotions controlled by understanding and managing the things that we can affect, then we will be in a better position to help others. By communicating more effectively and reducing our reactive behavior, we will be in a better position to be more accommodating to those around us, on phone calls or in a video chat.

We can then remember to treat others the way they want to be treated. Don’t try to “fix” people. We can remember that they have different needs and fears and we can adapt ourselves to their pace or priority as best we can. It’s a time that we all need to listen more and pay attention to what other behavioral expressions we are broadcasting and being more accepting of the reactions of others.

So, in these troubling times, we do have the ability to make deposits to our own emotional bank account.  Even better, when we pay attention and care for others, we can also make emotional deposits to the accounts of those people who are important to us.

Stay safe, stay well.


Read the full article Communicating in Times of Crisis .


Send your questions about how to use your profile to identify and control what is likely to stress you sot that you can better react. Email

Call 772-210-4499 to set up a time to talk about tools and strategies that will lead to better results.

Wednesday, May 20th, 2020

Here is an easy way to know that your team is ready to get back work.

We need to get back to work.  Here is an easy and free way to get everyone on your team on the same page with basic safety training.

Check it out:


First Response Training

Use code STAYSAFE2020 for FREE access to our Airborne Pathogens Course


Free Airborne Pathogens Workplace Safety eLearning Course.

As restrictions on businesses start to ease, we all want to get back to work and start generating revenue again. However, we must proceed with caution. COVID-19 is still with us, so it is vital to ensure that both employers and employees are equipped with the proper tools necessary to reduce the spread of the virus. The most important of these tools is a proper education on what the virus is and how it moves from person to person.

Here is a short video

Stay safe, stay well.


Please share this with a friend/colleague

Tuesday, May 12th, 2020

10% Happier Book Review

10 percent happier

Periodically, I share a favorite book review from Readitfor.me. There is never enough time to read all the latest books – this tool is a great way to learn and to stay on top of the latest topics and new ideas.

10% Happier by Dan Harris offers a timely intro on how to use meditation and mindfulness to come anxiety and reduce stress.

“The science supporting the health benefits of meditation continues to grow as does the number of Americans who count themselves as practitioners but, it took reading 10% HAPPIER to make me actually want to give it a try.” (Richard E. Besser, M.D., Chief Health and Medical Editor, ABC News)

Read on to see if mindfulness and meditation can help make you 10% happier.

10% Happier

By: Dan Harris

Readitfor.me Book Review

Dan Harris originally wanted to title this book The Voice In My Head Is an A-hole.

Throughout his career as a journalist and reporter, he – along with most of us – found that the voice in his head started as soon as he opened his eyes in the morning. And then, pretty much all day long, it heckles us with thoughts of the past and the future, much to the detriment of whatever we are doing in the present.

Though he didn’t find the path to enlightenment, he did find that a number of things he did – when done together – made him about 10% happier.

Where does 10% come from? Basically, what you are about to learn made Harris a much happier and more productive person. But he didn’t have a transformational experience that led him to a state of 100% bliss. So, finally, to explain why he now spends so much time focusing on mindfulness and practicing meditation, he says it’s because it makes him 10% happier. A totally unscientific number, but one that completely explains why he does what he does.

If you can quiet the voice in your head for the next 12 minutes, join me on a journey towards becoming 10% happier in everything you do.

The Voice in Your Head

One of the defining moments in Dan Harris’ career was when he had an on-screen meltdown. After years of nailing his on-screen time at ABC, he had a full-blown panic attack in front of millions of people.

It was the culmination of years of stress caused by the endless chatter in his mind. How many stories did he have on the air that week? What was the state of his relationship with is boss (the legendary Peter Jennings) right now? What else did he have coming up that might catapult him ahead of the other people vying for the plum jobs that were soon to open up?

That was his first step on the path to discovery. That in order to prevent that from happening again – which would surely be the end of his on-air career – he would have to find a way to quiet the voice is in his head.

He started to read books that he never would have even glanced at before, like Eckhart Tolle’s The Power of Now. He was intrigued enough about the ideas in the book that he tracked Tolle down for an interview.

The problem, Tolle said, is our ego. The ego is our inner narrator, and it is never satisfied. No matter how many creature comforts we accumulate, how many gourmet meals we consume, or how many rungs we climb on the career ladder, it always wants more.

One of the biggest problems our ego presents is that it is a comparison machine. It is always comparing itself to others. That explains why we are always measuring ourselves against the looks, wealth and social status of others.

Finally, and perhaps worst of all, it does all of that while thinking about the past and the future. As Tolle points out, we “live almost exclusively through memory and anticipation.”

Which is a real problem, because the only time that we ever have, in the literal sense, is now.

The biggest insight that Harris pulled from his time researching people like Tolle and scientists doing rigorous research on the human mind, was that your brain can be trained.

Happiness, therefore, is a skill.


Once you get on the path to finding happiness, you almost always find your way back to the idea of mindfulness, and thus, the precepts and ideas of Buddhism.

According to Buddha, we have three natural responses to everything we experience in our lives – we want it, we reject it, or we zone out.

Butter tarts – a fine Canadian dessert hard to find south of the border? Want it. Flies in the house because somebody left the front door open? Reject it. The latest celebrity gossip? I zone out.

Everybody has their own ways of reacting to things, but they all find themselves neatly into one of those three buckets.

However, there’s a fourth option beyond judging an experience that is even more helpful – mindfulness. Here’s a formula that one of the mindfulness teachers taught Harris, neatly tied together by the acronym RAIN: Recognize, Allow, Investigate, Non-Identification.

To walk through this process and see how it works, let’s pretend that you’ve just had a stressful experience, like getting turned down for an important promotion at work.

R: Recognize

The first step would be to admit that you’ve just had a stressful experience, and you are in the midst of all of the emotions that come along with it.

A: Allow

The next step is to “lean in” to the experience. The goal with mindfulness isn’t to detach ourselves from the world, but to be fully present to it. Don’t resist the experience or emotions you are feeling. Let them happen.

I: Investigate

In this step we start to pay attention to how the experience is affecting us, in the moment. Start by examining your body. Is your face flush? Is your head throbbing? Is your breathing short and shallow? Almost every emotion comes along with clear physical signs – your job is to get familiar with them.

N: Non-Identification

In this last stage we consciously bring to mind the fact that just because right now we are angry and jealous at being passed over, it doesn’t mean that we are angry and jealous people.

Once you’ve gone through the RAIN cycle of truly being present to your experiences and feelings, you can finally let it go and move on to experience whatever comes next – like getting back to work so that the next time a promotion comes up, you get it.

As Harris continued his journey of discovery, he started to go deeper and deeper into what helped him become a happier and more productive person.

He boiled what he learned into 10 principles he calls The Way of The Worrier.

The Way of The Worrier

TWOTW #1: Don’t Be a Jerk

One of the great things about Harris’ job is that he gets access to interview people that most of us would only dream of breathing the same air as.

One of the people on that list is the Dalai Lama. And one of the biggest lessons he learned from him was that putting ourselves first was a natural human tendency.

As it turns out, the Dalai Lama taught Harris, practicing compassion towards others will actually make you a happier person. Scientists performing brain scans showed that acts of random kindness towards others registered more in the brain like eating chocolate than fulfilling an obligation.

So, don’t be a jerk. Not because it’s the right thing to do, but because it will make you happier.

TWOTW #2: (And/But . . .) When Necessary, Hide the Zen

The Sufi Muslims have a saying: “Praise Allah, but also tie your camel to the post.” In other words, while there are plenty of practical reasons to be nice to other people, don’t let the world walk all over you.

This is harder than it first might seem. Combining a true inner peace while still getting things done in a cutthroat environment takes practice.

TWOTW #3: Meditation

Meditation has been linked to a ridiculously long list of benefits, and is now being used to treat major depression, drug addiction, binge eating, stress among cancer patients, and ADHD.

The easiest way to get yourself on the mediation path are to follow the instructions that Harris was given when he first started.

First, sit comfortably, ensuring that your spine is relatively straight.

Second, notice what you feel when your breath goes in and out. Focus on one spot like your nostrils or chest. If you find yourself getting distracted easily, use a mantra like “in” and “out.”

Finally, whenever your attention wanders (as it inevitably will) forgive yourself and bring it back. What you are essentially practicing is (a) noticing when you are not being present, and (b) brining your attention back to the here and now so that you can be present.

Even doing this for a few minutes a day will make a noticeable improvement in your life.

TWOTW #4. The Price of Security Is Insecurity—Until It’s Not Useful

Some things are worth worrying about, and some things are not. Harris tells us that separating them from one another is one of your key tasks as you start your journey to become 10% happier.

This is where he departs from the wisdom of some of the gurus he learned from, and where you might find solace in the fact that you don’t need to spend your life in a state of bliss in order to benefit from mindfulness and mediation.

When you find yourself worrying about something, stop and ask yourself this simple question: “Is this useful?”

For instance, in business you are wise to be worrying about how to generate more customers or lower your costs when you need to generate more profit. Worrying about things that aren’t important and you can’t influence are things that you can leave to the chumps.

TWOTW #5. Equanimity Is Not the Enemy of Creativity

The quest towards happiness will not make you a blissed out zombie. There’s a myth that all creative people find their biggest inspiration in melancholy.

There’s no current research on this one way or the other, but an equally strong case can be made that once you are freed from useless worrying, you can channel your creativity more often and more effectively.

It’s a lot easier to come up with creative solutions to problems when your head isn’t filled with worry and dread.

TWOTW #6: Don’t Force It

Somewhere on your journey you’ll find yourself finding time for purposeful pauses, and realize that not everything can be solved through constant, unrelenting pressure.

Just like you can’t open a jar when all of the muscles in your body are tense, you can’t solve every problem in your life through sheer force.

TWOTW #7: Humility Prevents Humiliation

When the voice in your head isn’t busy worrying you to death, it’s busy telling you how great you are.

This causes you to make just as many bad decisions as worrying about things you can’t control. As a leader, this can very easily get in your way of producing the results you want to achieve.

So whenever you find yourself thinking those types of thoughts, follow the RAIN process and let them flow right through you.

TWOTW #8: Go Easy With The Internal Cattle Prod

The third main job of the ego (beside worrying and telling you how great you are) is to beat you up with self-criticism.

Many people are driven by their inner cattle prod, thinking that it’s the only way to achieve greatness in their business and life.

However, Harris points out that the people training in self-compassion mediation are more likely to do things like stick to a diet and quite smoking. Why? They are much better at bouncing back from missteps.

A much better approach is to learn from your failures than beat yourself up with them.

TWOTW #9: Non-attachment to Results

Have you ever found that life doesn’t always work out the way you think it should?

This is about coming to the realization that striving for results is fine, but that the final outcome is out of your control. Do everything you can to succeed, and then be fine with letting the chips fall where they may.

This ensures that when you fail (as you inevitably will), you’ll be able to dust yourself off and get ready for the next round.

TWOTW #10: What Matters Most

This entire list becomes a lot easier when you are crystal clear on what you want in your business and life. Instead of just following your ego – which always just wants “more” – get your head straight on what’s most important to you.

What do you really want?


Tools like meditation and mindfulness can help manage stress and anxiety.

The Team Strength DISC model is a great tool that helps you to easily identify and understand your own style, recognize and cognitively adapt to different styles. The Team Strength charting app makes it easy to develop a process to communicate more effectively with others both at work with team members and at home with family.

Tim Kinane

Call 772-210-4499 to set up a time to talk about tools and strategies that will lead to better results.

Please share this with a friend/colleague

Tuesday, May 5th, 2020

PPP: Loan Forgiveness, Taxation, and Pitfalls

By: Patrick Ungashick

Sick Dollar

To help our clients and other business owners and leaders respond to the unprecedented leadership disruptions caused by the coronavirus (COVID-19) outbreak, the team at NAVIX offers the following crisis management information series.

Responding to Coronavirus: PPP: Loan Forgiveness, Taxation, and Pitfalls

The Payroll Protection Program (PPP) forgivable loan program, after a rocky rollout, has entered a new reality-check phase. Some of the heralded program benefits seem to be fading away, and new risks for borrowers are emerging. Here’s what business owners and leaders need to know.

Loan Forgiveness and PPP Taxation

Last week, the IRS released Notice 2020-032 regarding the deductibility of expenses that are paid with PPP loan proceeds. The bottom line is that normally deductible expenses paid with PPP funds are likely not deductible. The reasoning is that if the loan is forgiven, and the borrowing business gets to deduct the expenses it paid with the PPP funds, that creates a “double benefit” for the borrowing company. 

Not everybody agrees with the IRS’s interpretation of this crucial component of the CARES Act. The AICPA is fighting it. Chris Hesse, CPA, chair of the AICPA Tax Executive Committee, said: “In effect, the IRS guidance means that the taxability provision [Section 1106(i)] has no meaning. Why waste the ink to say that for purposes of the Code, the loan forgiveness is not includible in income, if the government will just take away deductions in the same amount?”[1]

So, unless Congress intervenes and overrides the IRS, it seems that the much-proclaimed tax benefits of the PPP program have been largely taken off the table. 

Retroactive Guidance – Good Faith Certification of Need

As part of the PPP application, borrowers have been required to certify in good faith that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” Neither the CARES Act nor the Treasury Department and Small Business Administration (SBA) offered any clarifying guidance on this provision. Rather, many congressional and governmental leaders initially urged business owners and executives to rush to apply, given the finite amount of loan proceeds available. 

Now, it appears the government has done an about-face. The Treasury Department’s latest guidelines retroactively instruct all PPP borrowers to make sure they can demonstrate a “need” for the funds, and also show that other sources of liquidity were not sufficiently available to that borrower. This standard did not exist when the PPP was first rolled out. 

Consequently, borrowers who received PPP loans must decide whether or not to keep the funds. Borrowers have until May 7th to repay the funds back to the SBA under a “Limited Safe Harbor” if they deem they cannot demonstrate that their need exists. 

Audit Risk

Finally, US Treasury Secretary Steven Mnuchin announced that any company which received $2 million or more in PPP funds will receive a full audit on the loan and how it was used. The announcement comes on the heels of several higher-profile companies that secured millions, and in some cases, tens of millions, in PPP funds. Secretary Mnuchin also reminded borrowers that they could face criminal liability if the Treasure Department determines that the borrower cannot demonstrate the economic need for the funds at the time of the application. 

And More Unanswered Questions

On top of these developments, many borrowers still have unanswered PPP questions such as eligible uses for the funds, how loan forgiveness is calculated, how to rehire furloughed employees, and others. PPP came into being in a cloud of confusion. While some questions have been answered, business owners and leaders now face a new round of uncertainty and frustration. 


At this point, PPP borrowers must consult with their lenders and tax and legal advisors to discuss their specific situation and questions—ideally prior to the expiration of the May 7th Limited Safe Harbor if there is any doubt about the wisdom of keeping the PPP funds. 

The NAVIX team has helped hundreds of business owners prepare for exit. We have also helped countless owners and leaders deal with recessions, liquidity crises, and economic upheaval. Our experience and perspective enable us to guide our clients through difficult times, such as these.


Contact Tim 772-221-4499, to discuss strategies for your business.