How are you and your Greater Sacramento business hanging in there these days? I’d be interested in what kind of revenue you’re managing (unless you’ve already given us visibility into your books — I can see for myself).

Shoot me an email, and let me know. I might have some ideas for you that could help, depending on your stage of re-opening, your revenue, etc.

Some of our Greater Sacramento business owner clients are fully back in top gear … while others are still facing massive headwinds.

But REGARDLESS of the stage you find your business to be in, there is one resource that you have that nobody can take away from you, and that isn’t easily replaceable.

You probably already know what I’m talking about.

But before I dive in … a few quick items:

  • PPP Forgiveness: The Treasury released a simplified forgiveness application form last week, which takes into account new legislation, etc. But let me remind you: the lender will be evaluating these applications, NOT the SBA. So check first with your lender contact. And, of course, we’re here to help.
  • Other sources of emergency funding: There is a new “Main Street Lending Program” that was built into the CARES Act. THIS IS A LOAN. It functions similarly to the EIDL, but a shorter term (4-5 years), and a slightly lower rate (around 3%). A good rundown from USA TODAY is here. There is a minimum loan amount of $250K … so this is not for startups, and targeted mainly to mid-sized companies. If this is you, let’s talk before you enter into it.
  • TAX DEADLINES: Yep, they’re coming. July 15th for personal federal AND two quarters of estimated tax. State deadlines are mostly similar, but some vary. And again, we’re here for you.

All of these decisions are very difficult to navigate without having wise counsel in your corner.

You better have your ducks in a row before entering these agreements (because the SBA, and the Treasury will be wanting as much money back as possible) … and so to make sure you get this right, put us in your corner. (916) 481-1025

Now, speaking of scarce, and valuable resources…

Hey Greater Sacramento Business Owners, Do You Understand The Value of Time?

“When the storm has passed, put your energy into rebuilding your life, don’t waste time looking back.” -Leon Brown

Entrepreneurship is the conversion of your knowledge, talents, guts, and time into money.

Time is valuable, although the value differs from person to person. And while I recently covered the best way to think about the value of your BUSINESS … this calculation is actually a little easier.

But it takes a certain mindset.

You see, when most people place value on their time, they do so based on an eight-hour workday, which is not all that correct. It’s hard to get eight productive hours out of each day.

One study involving Fortune 500 CEOs revealed that they achieved 28 productive minutes a day.

If you are your own boss, you decide how much you are going to get paid because you write your own paycheck. Most of the time that salary is determined by whatever is left over at the end of the month. This is a mistake because:

1) It indicates zero planning.

2) You pay yourself last; a common reason why most entrepreneurs end up going broke.


To plan against business failure and going broke, you need to decide how much money you’re going to take out each year to cover your salary, perks, contributions, retirement plans, etc. I would bet that eighty percent of entrepreneurs can’t come up with this number.

To do this, you need to have a base earnings target, otherwise you can’t calculate what the value of time is for you and will not be able to make good decisions about how you invest that time. As a result, you have no control over your business or life.

Calculate Your Base Earnings Target

Coming up with a number will dramatically affect the decisions you make, habits you cultivate, and people you associate with.  Here’s how…

* Divide your annual earnings target by the number of standard workday hours in the year

* Take “unproductivity” into account by creating a “productivity multiple” (i.e. you are truly productive for 50% of your work hours, or some such number)

A closer look:

Base Annual Earnings Target [TARGET]

Divide target by the standard Work Hours in a year (244 days x 8 = 1,952 in a year) [HOURS]

= Base hourly number $ [BASE HOURLY]

x Productivity vs. Non-Productivity multiple [PRODUCTIVITY FACTOR]

= What Your Time Must Be Worth Per Hour $_______________


It’s important that you surround yourself with people who understand and respect the value of your time, once you do.  If you don’t eliminate from your Greater Sacramento business life the people who don’t respect the value of time, then you and your business will pay the price.  You also need to delegate to other people those less-valuable tasks that tend to take away from your valuable time.

I’m grateful for our chance to serve you and your business — and we are dedicated to its success, in every season.



Jim Ornelas

(916) 481-1025

Ornelas & Ornelas


Feel free to forward this article to a business associate or client you know who could benefit from our assistance. While these particular articles usually relate to business strategy, as you know, we specialize in tax preparation and planning for families and business owners.