Small Business
Small Business Labor Shortage – Forbes
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Woman Restaurant Owner With Waiting Staff
The Great Resignation has made attracting and retaining employees a top priority. After health insurance, providing retirement benefits is the second most frequently offered benefit to attract talent. State and city regulation is prompting more interest in 401(k) plans, too! More than one-third of small businesses that do not currently offer 401(k) plans expect to within 12 months.
A 401(k) retirement plan is also a way to take care of employees’ financial wellness and provide a tax benefit to companies and their employees. But legacy 401(k) providers avoid marketing to the smallest businesses because the market isn’t very profitable. Yet, the vast majority of companies have fewer than 20 employees.
Penelope is a 401(k) platform that gives small businesses an affordable and east-to-use way to provide retirement benefits. It is helping small businesses navigate the challenges of the Great Resignation. At the same time, its CEO and founder, Jean Smart, manages her own challenges.
Jean Smart, CEO and founder at Penelope—a 401(k) retirement benefits platform for small businesses
Smart is a founding member of Chief, a private network for influential women leaders. She became part of a peer-advisory group with female founders and corporate executives who have similar interests and challenges and help each other problem-solve. One founder in Smart’s peer group has already achieved unicorn status—a billion-dollar-plus valuation.
Smart had worked in companies like Citi, Charles Schwab, and TD Ameritrade, and at the time, UBS. She worked on institutional employee benefits, such as 401(k) plans, employee stock options, and financial wellness. Inspired by the female founders in her Chief group, Smart started developing a business concept of her own.
Smart, the daughter of Korean immigrants who own a grocery store and restaurant, saw how her parents sacrificed to provide for their children and employees while neglecting to save for their retirement. Not saving has left them vulnerable in their later years. «With one in four Americans having no retirement savings, my parents are an all too familiar story in the U.S.—equal parts inspiration and cautionary tale,» said Smart.
«I’m a Gen-Xer and I’ve heard my entire life that we’re going to run out of Social Security,» said Smart. For many Americans, Social Security provides an essential source of income in retirement. But its money is running out. Projections say that starting in 2034; the Social Security Administration will reduce retirement benefits.
Smart’s personal and professional background made her think she was the right person to tackle this problem.
«I wanted to do something around fintech, education, and inclusive capital,» said Smart. She wanted to dispel the notion that there was a quick way of getting rich. Investing regularly in a 401(k) was the way to build a nest egg for retirement. «The reality is it takes generations to build wealth,» she sighed. «It doesn’t happen overnight, and it takes people working 20, 30, 40 years before they have money to pass on [to loved ones].» She wanted to create a way to set it and forget it.
Businesses with fewer than 20 employees—the vast majority—of small businesses need help, thought Smart. Many of these businesses are owned by women, minorities, and immigrants. Fintech streamlined processes, allowed her to simplify paperwork, and helped her cut costs by using a self-serve business model, making it affordable for small businesses to provide retirement benefits for their employees.
«It’s hard making things simple,» said Smart. «There are 50 to 60 thousand funds to choose from. We offer 10. The trade-off is there isn’t customization.» Through a low-cost subscription model, Penelope’s technology platform automates employee investing, streamlines cost and paperwork, provides practical savings tools for employees, and offers the choice of Pooled Employer Plans (PEP), traditional 401(k)s and Solo 401(k)s.
Penelope is an intuitive, cloud-based 401(k) platform, which launched in January. There are no 30-to-40 page documents with complicated jargon, and the content is brief, to the point, and uses plain English. People have different learning styles, so content is provided as text and FinTok videos.
Timing can be everything. More and more states and cities are mandating that businesses provide retirement benefits. California, Oregon, Illinois, Maryland, Colorado, Connecticut, New York City, New Jersey, Virginia, Seattle, and Maine do so. Rules and regulations vary, depending on where your business operates.
«During the Great Resignation, we’re all fighting to get the best people,» said Smart. She relies on referrals, and, fortunately, she is well connected.
Her employees could undoubtedly make more money working in larger companies as a startup. But Smart emphasizes the company’s purpose. «The fact that we are mission-based is very attractive,» she said. «It’s really striking a chord, not just with professionals in their 20s and 30s, but also their 40s, 50s and even their 80s. I’ve got five generations working with me,» Smart proudly said.
She recruited Ted Benna, widely known as the «father of the 401(k),» as an advisor to Penelope. «I’ve helped a lot of small businesses in my lifetime, as well as running my own business, and for many of them, the idea of offering a 401(k) was out of reach, expensive and confusing, filled with jargon and too time-consuming,» said Benna. «Penelope provides plans that are easier to understand and economically make sense for small businesses and startups.»
Shifting from a well-resourced mindset to a resource-constrained startup has been a steep learning curve for Smart. «You’re working with a blank slate,» she said. «You make many mistakes. You have to be open.” You have to be an agile leader, and there are ways to improve your adaptability. Once you have, «it’s thrilling.»
Penelope has successfully raised $2.1 million in pre-seed fundraising led by Slauson & Co. Additional investors include Amplify LA, Black Jays and executives from Wells Fargo, Citigroup and US Bank. “Saving for retirement is an essential tool for building wealth and financial equality,” said Austin Clements, Managing Partner at Slauson & Co. “Penelope fundamentally changes the way small business owners and employees invest in themselves, their families and their communities.”
How are you taking advantage of your experience and market trends to launch or re-calibrate your business?
Featured
Transforming Your Expertise into Income

By Dr. Stevii Aisha Mills

Let’s explore an empowering concept: how to turn your knowledge and skills into a profitable income stream. The idea behind “Click To Cash” is simple yet profound: you can leverage your expertise to create value for others, and in return, earn income.
Recognizing Your Unique Value
We often underestimate the power of our experiences and knowledge. Whether it’s skills developed in your career, hobbies you’re passionate about, or life lessons learned, you possess unique insights that others may find valuable. Understanding this is the first step toward monetizing your expertise.
Take a moment to reflect on what you excel at. What are the skills and knowledge areas you’ve developed over the years? What advice do friends or colleagues frequently seek from you? Recognizing your strengths will help you see the potential for turning those abilities into income.
Shifting Your Mindset About Wealth
Wealth is often thought of in monetary terms, but it encompasses much more. It includes your unique gifts, skills, and the impact you can make in the lives of others. When you align your purpose with your actions, financial rewards often follow.
Believing that what you have to offer is valuable is essential. Once you acknowledge your expertise, the next step is finding ways to share it with others. This is where the transformation occurs—when your knowledge addresses someone else’s needs, it creates a mutually beneficial exchange.
Practical Steps to Turn Your Expertise Into Income
1. Identify Your It Factor: Consider the skills and knowledge you have that others might find helpful. Think about your professional background, personal interests, and experiences that set you apart.
2. Package Your Knowledge: Explore different formats for delivering your expertise. This could be an online course, a coaching program, a book, or digital products. The key is to present your knowledge in a way that is accessible and actionable for your audience.
3. Start Small and Scale Up: You don’t need to have everything figured out initially. Begin with a simple offer that you can test and refine. Gather feedback and adjust your approach to meet the needs of your audience.
4. Use Social Proof: Share testimonials or success stories from those who have benefited from your expertise. This builds trust and credibility, demonstrating the value you provide without sounding overly promotional.
5. Consistency is Key: Showing up regularly is crucial. Whether you’re creating content, engaging with your audience, or refining your offerings, consistency helps establish you as a reliable resource in your field.
The Power of Click To Cash
Remember, this journey isn’t about quick fixes; it’s about building a sustainable foundation for long-term success. The Click To Cash philosophy is about taking strategic steps to convert your knowledge into income, allowing you to create a fulfilling life while making a meaningful impact on others.
If you’re interested in exploring more resources and strategies for transforming your expertise into a steady income, I invite you to visit www.stevii.com. Here, you’ll find a wealth of information to help you embark on this exciting journey.
The power to create the life you love lies within you. It’s time to take that next step and turn your knowledge into cash!
Small Business
Unlocking Your It Factor: Using Your Expertise to Create a Life You Love

Introducing Dr Stevii Aisha Mills. We got to catch up with her and learn some incredible things. Check out this article that will help you to learn directly from the words of Dr Mills.
In today’s fast-paced world, it’s easy to get caught up in the belief that financial success only comes from a traditional career path. But I’ve learned that some of the greatest rewards come when we dare to look inward and recognize the power of our God-given gifts. True wealth isn’t just about your bank account—it’s about using your unique talents to create a life that aligns with your values and purpose.
For me, this journey wasn’t always easy. I’ve faced my share of challenges, from financial setbacks to personal losses, yet each time, I discovered that the key to rising again was embracing the skills and talents that God had placed inside me. It was in these moments that I began to see the real value of my expertise, not just as a way to make money but as a way to make a difference.
The Power of Your It Factor
Each of us has something I like to call the “It Factor”—that unique combination of knowledge, skills, and passions that sets us apart. The challenge is that we often underestimate the value of these gifts. We might assume that if something comes naturally to us, it must come easily to everyone else too. But that’s far from the truth.
Your It Factor is where your potential to create impact lies. It’s in the way you solve problems, share ideas, or connect with others. It’s in the knowledge you’ve gained through experience, the skills you’ve sharpened over time, and the passions that drive you to keep learning and growing.
From Passion to Purpose
Turning your expertise into something meaningful starts with recognizing that your skills have value. It’s not about how much money you can make right away; it’s about finding ways to use your talents in a way that brings fulfillment to both yourself and others. Whether you’re mentoring someone, sharing your knowledge in a blog, or creating content that inspires, the impact you make is significant.
I’ve found that when we focus on serving others with our gifts, opportunities for growth naturally follow. It’s about shifting our mindset from “How can I make more money?” to “How can I use my talents to make a difference?” This approach not only leads to financial success but also to a deeper sense of purpose and satisfaction.
Building a God-Led Life
For me, faith is the foundation of everything I do. I believe that our gifts aren’t random—they’re given to us by God to serve a greater purpose. When we align our work with our faith, we tap into a source of guidance and inspiration that goes beyond our own abilities.
Building a life led by faith means trusting that the path you’re on is the right one, even if it doesn’t look like everyone else’s. It’s about believing that your gifts are enough and that they were given to you for a reason. True wealth, in my eyes, is knowing that we’re using our talents in a way that honors both ourselves and the One who gave them to us.
Cultivating Community and Connection
One of the most beautiful aspects of this journey is the sense of community that comes from connecting with others who are on a similar path. When we share our experiences, our challenges, and our victories, we create a space where we can all learn and grow together. This sense of connection is powerful—it’s a reminder that we are not alone in our pursuit of a life that aligns with our deepest values.
I encourage you to surround yourself with people who support your growth and cheer you on as you explore new ways to use your It Factor. Together, we can build a community that celebrates each other’s successes and lifts each other up in times of need.
Turn Up the Heat on Your It Factor
If you’re ready to take your It Factor to the next level, I invite you to visit www.stevii.com. There, we can dive deeper into how to amplify your unique talents and use them to create the life you’ve always dreamed of. Whether you’re looking to make a greater impact or discover new ways to unlock your potential, let’s turn up the heat on your journey to living a purpose-driven life.
Final Thoughts
My hope is that you begin to see the value in your own gifts and recognize that your expertise is more than just a skill—it’s a blessing meant to be shared with the world. Embrace your It Factor, trust in your unique path, and let your talents guide you toward a life filled with purpose, joy, and true wealth.

Small Business
Healthcare.Gov: Three Things Small Business Owners Should Know – Forbes
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AFP PHOTO / Karen BLEIER (Photo credit should read KAREN BLEIER/AFP via Getty Images)
The past year has been one of the most challenging in American history, especially for small business owners. Not only was staying financially afloat difficult, but a public health crisis exacerbated the many challenges of running a small business, maintaining healthcare coverage and all that comes with it. A May Small Business for America’s Future survey of more than 1,000 small business owners found that 75% said providing health coverage to employees has increased over the last four years and nearly one in three small business owners have considered dropping coverage with the most prevalent reason being high costs.
In this context, small businesses across the country may be considering what’s next. The same pandemic that created many of these challenges has also shown the importance of public health, healthcare and the new coverage options under the Affordable Care Act (ACA) that help small business owners and their employees access coverage.
In fact, the Affordable Care Act (ACA) made healthcare coverage accessible to millions of individuals, small business owners and their employees who otherwise could not afford it. President Biden’s American Rescue Plan (ARP) then broadened eligibility under the ACA and added tax credits for health insurance, making obtaining coverage more accessible and affordable than before. Even with these benefits, small business owners still have to navigate their diverse needs in providing coverage to employees, such as tax credits and finding the right plan, while also running a business.
Here are three things small business owners should consider about getting coverage under the ACA.
1. The SHOP Marketplace is Tailored to Small Businesses Health Insurance Plans
The Small Business Health Options Program (SHOP) Marketplace provides detailed guidance on the type of plans that are available through Healthcare.gov to small businesses that have less than 50 full-time employees. The plans provide quality, affordable health and dental insurance, but also give small employers a choice and flexibility in selecting the right coverage for their employees. The Small Business Administration (SBA) offers a resource for understanding the options available to small business owners and self-employed individuals in 36 states, five U.S. territories, and the District of Columbia using the HealthCare.gov platform.
2. SHOP Plans are the Best Avenue for Receiving the Small Business Health Care Tax Credit
The SHOP plans are also generally the only way to qualify for the Small Business Health Care Tax Credit, which can be worth up to 50% of an employer’s contribution to premium costs. There are a number of requirements for obtaining the credit, but it is generally available to businesses with 25 for fewer employees who have a SHOP plan.
3. Self-Employed Individuals can also Purchase Plans on Healthcare.gov
Self-employed individuals such as gig workers, freelancers, consultants, independent contractors, and business owners with no employees can also purchase coverage on Healthcare.gov. For self-employed individuals who were not able to qualify for coverage in the past, it is important to note that the ARP broadened eligibility for coverage so they may now qualify. Most people currently enrolled in a Marketplace plan may qualify for more tax credits, making health insurance premiums after these new savings lower than ever before.
Small business owners often work at least 12 hours a day just to keep the lights on and operations running. Whether you are self-employed and check out the individual Marketplace or a small employer who checks out the SHOP Marketplace — it can be an easier option for them to select the right health coverage options for their business and employees and SHOP-registered agents and brokers are also available to help.
Employers can visit healthcare.gov/small-businesses/ to learn more.
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