entrepreneurship

11 | PST Baby: Primary, Secondary, Tertiary

“What could possibly go wrong?”
Around here, if there is one plan there are three plans. We’ve got to have the primary plan, then the backup plan then the other plan for when it all goes entirely wrong. PST – a reminder to start with a primary plan, a secondary plan, and a tertiary plan. Embracing failure may improve our lives, our work, and our teams.

07 – Wayfair Wayside

The United States Supreme Court changed the landscape of internet commerce with a 2018 ruling called “South Dakota v Wayfair Inc”. With the stroke of five pens, business had to comply with thousands of sales tax jurisdictions within the United States – up to 58 states and territories, 3,000 counties, 10s of thousands of municipalities all want revenue from internet-based sales. This determination opened businesses to new risks. It created an entirely new business venture called: interstate sales tax compliance service provider. And new phrases such as “SST” for streamlined sales tax process. It will cost small business thousands of dollars to comply. For us, compliance will cost more than the taxes we pay