All posts in Brain Mojo

Taproom POS

by cfarmand on March 12, 2013 in Beer Accounting, Brain Mojo, Brewery Accounting, Brewery CPA, Change is coming, Chris Farmand, Jacksonville CPA with No comments

Recently, taproom POS (point of sale) questions keep appearing up on my radar. More specifically, people want to know which tablet application is best for their taproom.  Within the last 5 years many POS startups have moved in and commanded respect in the space.  The introduction of the tablet in business, coupled with these subscription POS systems has granted increased access to reputable/respectable products.  One major benefit of using a iPad or Android device as a POS is the up-front investment.  Compared to a traditional POS, the “price to play” is about 1/3rd.  Most tablet based POS systems’ have a monthly subscription pricing structure, often with the only upfront cost being the hardware. (*Note many are now using the hardware as a giveaway to win the business)  A traditional POS system can cost between $10-15K when you factor in all the hardware and printer paper?  Printer paper?  WGAS about printer paper you ask; trust me it all adds up.

Here are some questions I have seen lately:

So why scrap the old skewl cash register?
Couple of reasons:  1) Depending on how you set up your items,  super useful reports can be generated on what is selling and what is not.  2) Cash controls are far better with a POS.  3) A frekin  iPad looks cool in the taproom.

Which one should I get?
I have played with many subscription based POS systems and while the prices are sweet, the functionality may not jive with your processes.  For example, Vend, Shopkeep, SalesVu, Square, are all considered retail POS systems.  This would be perfect if you were just a packing store,; but if your people are drinking onsite (host onsite consumption space), creating tabs may give you a issue.  **Breadcrumb is one true restaurant POS that falls in the subscription space.  These systems usually have a free trial.  My suggestion would be to sign up, test, and see if it works for your space.

What about the big boys, they all seem to have tablet options now?
Micros, Aloha, Calypso have all rolled out some tablet version of their software.  Problem is they are all still expensive.  Look, if you are pulling down $150-200k and have multiple terminals in your taproom, then the big boys is the way to go.

Conclusion:
Subscriptions based POS systems are here to stay and tablets are making them a viable option for the taproom.  With all the options out there, you may need to test a few or get with a expert who is going to help you pick on that will fit in your processes.

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Considering your move

by cfarmand on September 10, 2012 in Beer Accounting, Brain Mojo, Brewery Accounting, Brewery CPA, Change is coming, Chris Farmand, CPA Fun, Early Adopter, Firm of the Future, Jacksonville CPA, Technology, Trash the Timesheet with No comments

To keep up the momentum of the last post I have come up with a list of five “thought points” a potential brewery should consider while planning their arrival; enjoy:

  1. Capital – Do you have the money it takes to open a brewery?  I see undercapitalized businesses across many industries, and it doesn’t work.  Under capitalization is the equivalent of roofers affixing shingles with bubble gum, it simply won’t last if you didn’t hire the experts from Best Indianapolis roofing company for this job.  Seek council to understand the capital requirements to open a brewery; oh yea….use nails.
  2. Plan – Do you have a plan?  I am not talking about a traditional business plan.  I am talking about a PLAN.  Traditional business plans are for winemakers, you’re brewing beer guy. I am talking about: brewery layout, 1, 3, 5 year goals, parking, expansion, marketing, staff, benchmarks.  Can you feel the energy you are about to bring? We can’t predict the future, but we can plan.
  3. Distribution – What does distribution look like in your state?  Here in Florida, all wholesale must pass through a distributor.  Some states have self-distribution and that is a GOOD thing.   Depending on your state, a refrigerated truck purchase may be on the horizon.
  4. Back office – I am confident you know how to operate all those valves and tanks, but can you balance your check book?  The accounting and compliance piece may be a little more than the wife can handle.  Hire someone knows the industry, they will get it!  This is important for two reasons: 1) because proper record keeping will keep the TTB out of your hair and 2) you want to know if your operation is profitable.
  5. Culture – Who will you serve?  I understand anyone who bellies up to the bar and has money; but what does that person look like?  Culture benefits more than just the patrons, it’s the unspoken writing on the wall every business owner strives for.  Define your culture, and the people will come.
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Craft Brewing

by cfarmand on August 15, 2012 in Beer Accounting, Brain Mojo, Brewery Accounting, Brewery CPA, Change is coming, Chris Farmand, Firm of the Future, Tax, Technology, Trash the Timesheet with 6 Comments

West Coaster’s bear with me; Midwesterners please be patient.  I know what I am about to say is SO a decade-old for yall, but here I go.  I am excited about craft brewing!!!  This industry is less than 5 years old to my wonderful city, and the momentum is not slowing. While I love beer, my excitement stems from the contribution these businesses are having on the US economy.

Two years ago I was given the awesome opportunity to help open a local brewery.  While I spend most my time in the back office, I can feel the energy.  The smells, employees, fork-lifts, tanks, patrons, all exude positive energy.  What makes craft breweries so exciting?  I came up with a few thoughts:

  1. “Love not War” – While their ingredients may be special, expensive, and exotic, I can promise you blood is not being shed over them.  It is a peaceful product which if you hang around long enough…. will make you smile.  Take that diamonds!
  2. BRIC, be gone – During the last 5 years, the U.S. has taken a slight beating from Brazil, Russia, India, and China.  I meant to say the U.S. (minus) the craft brewing industry.  Communism and slave labor can’t intrude.
  3. Ingredients – This one is my opinion; well actually; all of these are my opinion, but especially this one.  The luscious, succulent ingredients craft breweries are using don’t interest the big boys.  Why should InBev purchase breweries using expensive German hops when they can continue to sell us the watered down, rice filled, cheap crap?   Economics 101 folks: the big boys understand their space.
  4. Communities – Who doesn’t crave a little community in their life? Every time a craft brewery opens, a new community is born.  Whether you lean on the brewery for an afternoon pint or host a fundraiser in the taproom, it brings people together to help a local cause.

Craft Breweries are here to stay.  The economic development they bring to cities is awesome and communities love them.  This excitement is why I love to serve the industry.

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Apple Babies

by cfarmand on June 25, 2012 in Brain Mojo, Firm of the Future, Greg Kyte = badass, Jay Shepherd, Tax, Technology, Thriveal with 1 Comment

Does anyone know what happens 9 months after a new Apple device is released?  Ok, me neither but I have a theory.

Last week I had the opportunity to hang with some of the brightest minds in the Advertising, Accounting, Legal, and IT industries.  This was the first “Verasage Fellows and Friends” event since the passing of Steve Jobs, so you can imagine with a group of innovators, Apple was top of mind.  We discussed how Apple creates over $6k per sq ft in each location, compared to Tiffany’s $3k or JC Penney’s $150.  We rattled off some more amazing figures but it wasn’t until we began talking about Apple’s attention to detail that I became emotionally connected.  More specifically, the experience of opening a new Apple product.  I am torn between the beautiful box and that damn cute card that awaits me, reminding me to enjoy.  Enjoy.  Itsmagic delivered on a business card.

That’s deep folks.

I will admit when I open a Apple product, I get the goosies.  The pleasure/comfort part of my brain is firing and it feels good.  And I know I am not alone; I am not alone because Apple activates hundreds of thousands of devices a month and delivers the goosies to all those people.  Now lets take it one step further.  What if I said I believe the pleasure sensation felt from opening a new Apple product had direct correlation to sex.  Could you deny it?  Would you deny it? Just remember the feeling when you opened that iPad.  Yes, one could argue, “Chris, thats like saying a purchase from L.L. Bean could start a baby boom.”  And I would call you a bozo.  The sacred experience begins when you are holding the shrink-wrapped box.  Then comes the unwrapping, followed by the opening.  Finally your product and that damn cute card.
So yes, I believe 9 months after Apple releases a new product we experience an influx of newborns.

Did I mention my wife got a iphone yesterday, enjoy.

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IC Opportunities

by cfarmand on February 14, 2012 in Brain Mojo, Change is coming, CPA Fun, Engagement Agreement, Firm of the Future, IC Opportunities, Jacksonville CPA, Jason Blumer, Knowledge management, Tax, Technology, Thriveal, Trash the Timesheet with 3 Comments

I spent the last 48 hour in chilly Chicago with a group of thought leaders who command attention in the accounting arena. Jody Padar organized the first annual (maybe quarterly) IC Opportunities Event which brought together practitioners, vendors, media, marketers, state societies to discuss the direction of the profession. Greg Kyte, our resident comedian, welcomed us with a colorful keynote. Vendors in attendance included representatives from Intuit, Thomson Reuters, Wolters Kluwer, Sharra Chan of Orange Door, Jennifer Warawa of Sage, Kasey Bayne of Freshbooks, Sarah Johnson of Inovautus, Peter Wolf of Azamba Consulting, Kathleen Echeverria of bill.com, Tamera Loerzel of Convergence Coaching and Michael Redisch of Cloudsway. Our media friends were Danielle Lee of Accounting Tomorrow and Rick Telberg of CPA Trendlines. Oh, and how can I forget, Jackie Brown representing the MACPA, only the COOLEST state society in the land.

Jody started the brain dump bright and early with a discuss on “the Gap.” The four areas we focused on were Mobile, Could, Social, and Project Management. In groups, we discussed the external and internal forces that prevent firms from adopting. The discussion moved to suggestions on how the four areas could gain more traction with the traditional firms. In the afternoon Geni Whitehouse, Jason Blumer Kasey, Sharra, and Joe Manzelli moderated deeper round table talks on Social, Cloud, and Project Management.

I was honored to be invited to an event like this. I was so happy to leave the comfort of my office, during tax season, and engage my brain in the future of accounting. My take-aways from the event were; the profession is moving in a direction to offer creative services above and beyond the traditional “tax-man” services. Acceptance of cloud and mobile technology will be a must for these services to flourish.

Jody, when is the next one?

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Thrivecast and Andriod

by cfarmand on November 22, 2011 in Brain Mojo, Change is coming, CPA Fun, Engagement Agreement, Firm of the Future, Greg Kyte = badass, Jacksonville CPA, Jason Blumer, Technology, Thriveal, Thrivecast with 2 Comments

Self-proclaimed Googleites,

Come one, come all; and feast on the work-around to listen to Greg and Jason‘s Thrivecast on your Andriod device.

Copy the link below and paste it into your RSS feed reader or Google Reader, it will update automatically.

http://www.screencast.com/users/JasonBlumer/folders/THRIVEal%20Podcasts/itunes

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Knowledge Management?

by cfarmand on November 2, 2011 in Brain Mojo, Change is coming, Engagement Agreement, Firm of the Future, FPA, Jacksonville CPA, Knowledge management with 2 Comments

When I first heard the term knowledge management I thought to myself; great, one more buzz phrase to add to the list.  Static this, tacit who?  Reverse please:

I am a simple guy.  I like simple things.  I enjoy taking complex ideas and simplifying them so they can be understood.  The conversion from complex to human is an important one, because once I can understand it, the word can flow into the streets.

My research of Knowledge Management turned up a number of explanations and ideas, all being complex.  I also uncovered that knowledge management was more than a business buzz; it kinda separates the entrepreneurs from business owners.  Lets get started.

Literature on the topic usually refer to two types of knowledge: static and tacit.
Stop.  For this post the two types of knowledge I am going to talk about are: textbooks and brain mojo.  For our scholars out there, textbooks translate into static knowledge, and brain mojo translates to the ever so sexy tacit knowledge.  Textbooks and brain mojo, textbooks and brain mojo, say it with me, please

Textbooks, or static knowledge, is the information we process into knowledge from the resources all around us.  School, textbooks, IRS websites, PDF’s, magazines, white-papers, case studies etc.  This knowledge is available to anyone who wants it.  Its not a secret, it is literally what has been published for people to read and process.  Textbook knowledge is great because just like a textbook, if you forget it or need to reference it, just look it up.

Brain Mojo, or tacit knowledge, is the information that makes the world tick.  I refer to it as Brain Mojo, because unlike textbooks, someones Brain Mojo is rarely published for others use.  Even if we did a better job publishing Brain Mojo, I believe only a few could benefit from it.  Brain Mojo perpetuates entrepreneurship.   An appropriate example to illustrate someones phenomenal Brain Mojo would be the late Steve Jobs.  I have heard the critics call Mr. Jobs controlling, degrading, genius, perfectionist, among other names.  These labels Mr. Jobs accumulated throughout his career are a direct result of his Brain Mojo.  His Brain Mojo, directed, created, edited, criticized, and complemented everything that came out of Apple.  Some say he left a road map for Apple to follow for the years to come.  Let me be clear here, a road map is not Brain Mojo, so it is left to be seen if the current leader at Apple can carry on Mr. Jobs legacy.

Since textbooks are already in circulation, some say it is important to try and capture the Brain Mojo to pass on.  I am not sure it is that easy.  I understand manuals, policies, and trade secrets can be documented, but I believe the Mojo is something deeper.

Your thoughts?

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