Even when we expect our tax returns to bring a refund, we all dread preparing for the tax deadline. If you don’t have a plan for the money when that refund check comes, it could be all to easy to spend it. Instead of succumbing to impulse, consider these five options for letting the savings you accumulated last year bring you greater financial security and peace of mind in the years to come.

1. Pay Down Debt

If you have high-interest credit card debt, putting your tax refund check towards paying it off will likely give you greater returns than any other option.

2. Fund Your Emergency Savings

Put yourself in a stronger position by putting your refund into your emergency savings account.

3. Save for Retirement

To strengthen your financial position even further, consider putting your tax refund check into a traditional or Roth IRA.

4. Invest in Real Estate

If you don’t yet own your own home, now is the time to start working toward that goal. If you’re already a mortgage holder, paying off your mortgage principal early can help you save money in interest.

5. Start a College Savings Fund

It’s never too early to start saving for your children’s tuition bills. The earlier you start, the less you’ll need to save. Compound interest and time will do much of the work for you.

Conclusion

While none of these options are glamorous, you give yourself the kind of financial security that lets you breathe easy even in times of crisis.

-Amy Fontine, Financial Journalist

Fun Facts

• February is the birth month of Abraham Lincoln, George Washington, and Babe Ruth.
• February is Black History Month.
• The first official Groundhog Day was celebrated on February 2, 1886.

Upcoming Events

• February 2 – Groundhog Day
• February 14 – Valentine’s Day
• February 20 – President’s Day
• February 29 – Leap Day

Tenant Spotlight

 
Sean Burrows is Managing Director of Enliven Group LLC and comes from a background in website design, interactive media consulting, web-based public relations, and search-based marketing. He is a regular guest lecturer at Westminster College’s Gore School of Business in Salt Lake City, and regularly speaks at Chamber of Commerce events, and business events around the United States. In 2005, Mr. Burrows co-founded Enliven Group, an interactive media consulting firm that managed comprehensive online marketing and public relations campaigns. Enliven Group provides services in Internet marketing, search engine optimization, website design and development, social media management, copy writing, and full website audits.

What’s New At Pyxis

 
Events can now be posted on our website! This allows the public and other members to view and attend any upcoming events you may have. Please contact the front desk for further details.

Service Highlight

 
Did you know that Pyxis Suites offers more than just office space? Here are some of the other services we offer:

• Florist
• Travel Arrangements
• Office Supplies
• Registered Agent
• Digital Advertising
• Additional Janitorial
• Call Screening
• Weekly Dry Cleaning
• Car Detailing
• Catering

Business Sense

 
The time is always right to do the right thing. -Martin Luther King, Jr.

How does faraway China impact my local business in Utah? How can my company effectively sell into the Mexican market? How will the new World Trade Center Utah increase economic development in our state? Maybe these aren’t the first three questions you ask yourself on a daily basis, but increasingly these international issues are impacting business in Utah on every level. In today’s growing global economy, Utah business executives are facing international competition and opportunities from all parts of the globe. The distinguished business consultant Dr. Peter Drucker warned: “in the future, there will be only two types of CEOs: those that are international
and those that are unemployed.”Taking that counsel seriously, many Utah businesses are expanding their global strategies.

With the Utah economy deemed the “most dynamic in the country” (the Kaufmann Foundation), and with additional numerous new opportunities rapidly expanding all over the world, Governor John Huntsman led the creation of the new non-profit World Trade Center Utah. Based in downtown Salt Lake City and sharing offices with the Salt Lake Chamber, it provides a one-stop center for international business as well as connectivity with the other 313 World Trade Centers worldwide.
Life in Utah

Fun Facts

*Hanukkah begins on the 25th day of the Hebrew month of Kislev.
*Over five miles of lights are used to decorate the Rockefeller Center ’s Christmas tree .
*Donuts, rice, and cabbage are believed by some cultures to bring good luck if eaten on New Years Day.
*In 1907 New York’s famous ball dropped for the first time.
*The song “Auld Lang Syne” was created by Robert Burns and published after his death in 1796.

Upcoming Events

• December 21 – Pyxis Pot Luck Lunch!

• December 24– (Closed)

• December 31– (Closed)

• Happy Holidays and Happy New Year!

Service Highlight

Have you thought about adding Call Screening to your monthly services? For only $75 a month you can have personal call screening provided by a Pyxis receptionist.
*Remember weekly dry-cleaning pick up on Tuesdays and Fridays.

Business Sense

“A business that makes nothing but money is a poor business.”– Henry Ford

When voters in 37 states select their governors next month, the overriding issue will be, of course, the economy.
A recent CBS News poll found that 54% of adults think the economy and jobs are the most important problem the U.S. is facing today. Nationwide employment has declined by 7 million jobs over the past 2 years. But some areas are doing better than others, and for many of them, it isn’t an accident. Who’s doing the best job when is comes to fostering growth? UTAH, according to our fifth annual look at the Best State for Business. The Beehive State captured the top spot in our rankings for the first time, after a four-year run by Virginia at the head of the list.
Utah’s economy has expanded 3.5% annually over the past 5 years, faster than any other state. This is 3 1/2 times faster than the U.S. as a whole. Total employment in the U.S. has shrunk over the past 5 years, but in Utah it increased 1.5% annually.

“We have a fiscally conservative government where we are trying to keep government off your backs and out of your wallet. We want the free market do what it does best,” says Utah Gov. Gary Herbert.

Kurt Badenhausen
FORBES.COM

Fun Facts

*The first Thanksgiving celebration lasted 3 days.
*The annual Macy’s Thanksgiving Day Parade began in the 1920′s.
*Benjamin Franklin wanted the turkey to be the national bird of the United States.
*There are 24.9 million Military veterans in the United States.
*Veteran’s Day is the anniversary of the ending of World War 1.
*Veteran’s Day was originally named Armistice Day until 1954.

Upcoming Events

• November 11 – Veterans Day (Open)

• November 25– Thanksgiving (Closed)

• November 26– (Closed)

Service Highlight

Have you thought about adding Call Screening to your monthly services? For only $75 a month you can have personal call screening provided by a Pyxis receptionist.

Business Sense

“A word to the wise isn’t necessary– it’s the stupid ones that need advice.” -Bill Cosby

In poker, they call it a “tell.” A subtle cut that gives away the weak hand behind the player’s bravado. Liars have their tells too, and Pamela Meyer offers some of the most common, drawn from research, interrogation methods and facial recognition techniques taught in intelligence training programs, police academies and universities.

*An asymmetrical smile or frown, or shrugging with just one shoulder.
*Extended eye contact (honest people only look you in the eye 60% of the time).
*Sitting completely still, or moving just one body part (a single jiggling leg or waving arm).
*Flashes of anger or surprise that are quickly repressed.
*Fidgety, quick touches to eyes or mouth.
*Over-talkativeness.
*Speaking more slowly and deliberately than usual.
*Denials and vague statements (“I don’t know what you mean…” “It was a busy day.”)
*Repeating questions or phrases to stall for time.

Entrepreneur Magazine

THANK YOU

To those of you who attended and participated in our one year anniversary Vendor Fair and Community Network event!

Upcoming Events

• October 19- Lunch Seminar @ noon (make not this is one week earlier than normal).

• October 31- Halloween

Fun Facts

*Bobbin for apples originated from the roman harvest that honors Pomona, the goddess of fruit trees.
*Halloween is on October 31st, the last day of the Celtic calendar. It was originally a pagan holiday celebrating the dead.
*One of the most filmed movie characters is Dracula.
*Jack-o-lanterns were not originally pumpkins, they were Halloween turnips.

“Suite Suggestions”

**Parking- Visitor parking out front is for visitors only. Tenants must park behind our building. Thank you. Also if you have a reserved parking space in the garage, park in you assigned space.

Holladay Chamber Business Seminar

Key Note Speaker- Dr. Chris Hill
October 14th, 2010
8am-1pm
At the Holladay City Offices
RSVP by October 8th
www.holladaychamber.org

Business Sense

“Our problems are man-made, therefore they may be solved by man. No problem of human destiny is beyond human beings.” -John F. Kennedy

A good mentor is as valuable for a start up as a good coach is for a rookie. They want you to succeed, are quick with advice, honest in their critiques and generous with their networks. Here’s how to link up with a mentor who’s a match for you:

Look far and wide- When looking for a mentor first you must go to someone you know and trust, such as a professor, local entrepreneur, industry expert or former employer. Mine for contacts on LinkedIn, through alumni associations, at trade association meetings and small business development centers.

Listen up- An hour with a good mentor can be more valuable- and much less expensive than an entire business course. Mentors have real-world experience, understand your needs and want to help you avoid the pitfalls they’ve already encountered. They also have access to people and resources you don’t have.

Protect your interests-If you don’t fell comfortable with your mentor, find a new one. Otherwise, you’ll be hesitant to share information. Regardless of your comfort level, make sure to protect any trade secrets before discussing plans with your mentor.

Give back- When you feel you’ve achieved a level of experience that will allow you to mentor someone else, connect with trade groups, small business development centers and universities. Becoming a mentor is a great opportunity to give back and get something back. It helps you sharpen your own skills and can help you expand your network.

Ivy Hughes
ENTREPRENEUR MAGAZINE

Fun Facts

*The average American spends over 100 hours a year commuting to work.
*Labor day was founded when workers were working 16 hour days in harsh environments.
*Many other countries celebrate May Day, which is very similar to America’s Labor Day.
*Many take part in the tradition not to wear white after Labor Day.

Upcoming Events

• September 6-Labor Day (Closed)

• September 28-Pyxis 1 year anniversary Vendor Fair & Network Event! 1-5pm

“Suite” Suggestions

**For information on joining the Murray, Holladay or SLC Chambers please contact Kathryn. this is a great opportunity to stay connected in our community and attend local business events.

Business Sense

“Man often becomes what he believes himself to be. If I keep saying to myself that I cannot do a certain thing, it is possible that I may end by really becoming incapable of doing it. On the contrary, if I have have the belief that I can do it, I shall surely acquire the capacity to do it.”

Learn the power of effectiveness and feel more satisfied with what you accomplish each day. Know where you’re going and discover the secrets to success and fulfillment within you.

Habit 1: Be Proactive- Recognize how choices based on personal experience or beliefs can profoundly impact your effectiveness, both positively and negatively.

Habit 2: Begin with the End in Mind- Develop a clear definition of what is and is not important to you by creating the most important road map you’ll ever have.

Habit 3: Put First Things First- Immerse the balance and fulfillment of your professional and personal life by investing a few minutes each day in the same planning process used by many of the world’s most successful people.

Habit 4: Think Win-Win- Build a plan that finds faster and better solutions through clear expectation, shared responsibilities and an understanding of priorities.

Habit 5: Seek First to Understand, Then be Understood- Develop the skills of effective communication that lad to greater influence and faster poblem solving.

Habit 6: Synergize- Value and celebrate differences and understand how they contribute to more innovative and intelligent solutions.

Habit 7: Sharpen the Saw- Maintain and increase your new found effectiveness by continually renewing yourself mentally and physicalll.

By Steven R. Covey
The Seven Habits of Highly Effective People.

Fun Facts

*Andrea Bocelli didn’t start singing until the age of 34. Some “experts” told him it was too late to begin.
*Money isn’t made out of paper, it’s made out of cotton.
*American Airlines saved $40,000 in 1987 by eliminating one olive from each of the salads in first class.

Upcoming Events

• August 31st- Seminar Luncheon (make note on calendar)

“Suite” Suggestions

**Remember to put our monthly networking lunch seminar on your schedules! RSVP by August 27th. Space is limited and a drawing will be held for those who attend.

**For information on joining the Murray Holladay or SLC Chambers please contact Kathryn. This is a great opportunity to stay connected in our community and attend local business events.

***Member Contest! Now through September 1st, Pyxis will be keeping track of all qualified referrals* made. The member with the most referrals by September 1st will receive an iPod Touch 8 GB. Have all referrals contact Kathryn.

**Please help us maintain a professional atmosphere where everyone can be productive by holding meetings in designated conference rooms and closing office doors to help keep noise down. Thanks, Kathryn.

Business Sense

“There are only two words that will always lead you to success. Those words are yes and no. Undoubtedly, you’ve mastered saying yes. So start practicing saying no. Your goals depend on it.” Jack Confield

Every small-business owner knows that one way to inexpensively build client base is to get referrals from satisfied clients. But how do you induce existing clients to refer new ones to you?

You should just ask. Business and marketing consultant Pinny Cohen in Fairlawn, NJ., points out that people his clients refer tend to “match that client in outlook and perspective, so when a good client refers people, they are usually good clients. Make sure the person you’re asking a referral from is your all-star client.”

Many entrepreneurs reward their clients for their referrals. Some firms reward both the existing and the new customer. If the referred person signs up for service, both customers get a credit to their accounts.

Other small-business owners offer gift certificates for items. Clients would enjoy-think house cleaning services, chocolates, flowers, spa days, theater tickets and the like.

Finally, don’t forget one old-school incentive: a straightforward thank you.

“It sounds simple, but a hand written thank you goes a long way,” says Alexandra Mayzler, owner of Thinking Caps Tutoring in New York. “Incentive programs, especially in service industries, aren’t always appropriate, and genuine thanks go a long way.

By Jennifer Lawler
Entrepreneur Magazine

Fun Facts

*Benjamin Franklin wanted the nations bird to be a turkey, but was outvoted by the bald eagle.
*The 4th of July was not declared a holiday until 1941.
*Our national anthem is actually set to an old English drinking song.
*The stars on the original flag were organized in a circle to represent being equal.
*The youngest signer of the Declaration of Independence was 26 years old Edward Rutledge.

Upcoming Events

• July 4- Independence Day

• July 5- (Closed for the 4th)

• July 24- Utah Pioneer Day

• July 27- Monthly Seminar

“Suite” Suggestions

**Remember to put our monthly networking lunch seminar on your schedules! This months guest speaker will be bobsled silver medalist Bill Schuffenhauer. RSVP by July 23rd. Space is limited and a drawing will be held for those who attend.

**For information on joining the Murray, Holladay of SLC Chambers please contact Kathryn. This is a great opportunity to stay connected in our community an attend local business events.

**Also, Pyxis Suites has added a Website Design Link to our home page at www.pyxissuites.com.

**Receive a $100 gift card on any 12 month VIRTUAL OFFICE contract referred.

**CHECK OUT OUR NEW VENDING FOR COLD BEVERAGES IN THE BREAK ROOM!!!

Business Sense

“Far and away the best prize that life offers is the chance to work hard at work worth doing.” -Theodore Roosevelt

Finding money to start a business isn’t easy. It never has been, and let’s face it, it never will be.

“I know it’s hard to fathom,” says William Dunkelberg, chief economist for the National Federation of Independent Business, “but the government simply doesn’t track where small business-the engine that drives the nation’s economy-gets its steam.

There are two fundamental problems with government data on startups. The first lies in the definition of the startup. Depending on the definition, estimate of the number of new business started each year can range from 600,000 to 6 million.

The second problem is the definition of small. In government terms, a company with as many as 500 employees is a small business. That’s almost two-thirds of all U.S. firms.

Luckily, some private researchers are working to fill the knowledge gap. In 2005, a University of Michigan project identified a group of 1,200 startups and tracked their progress annually, continuing through 2011. Here’s what they’ve found so far:

*More than 80% of new ventures were funded by owner savings, personal loans and credit card.
*About 17% of entrepreneurs received financial help from the folks who know them.
*The average startup kitty was about $48,000.

In short, look no farther than the mirror for your most likely source of startup money. Good, old-fashioned bootstrapping- that’s what kick-starts this nation’s entrepreneurial engine.

By Kate Lister
Entrepreneur Magazine

Fun Facts

*The average life of a dollar bill is 18 months.
*The number 172 can be seen on the back of a $5 bill in the bushes at the base of Lincoln Memorial.
*While he appears on the $20 bill, Andrew Jackson preferred coins rather than paper currency.
*Most people save $2 bills, thinking they are rare and valuable…They’re actually worth $2.

Upcoming Events

• June 14- Flag Day (Open)

• June 20- Father’s Day

• June 29- Monthly Seminar (Networking Lunch)

“Suite” Suggestions

**Janitorial services are 1X per week. Do not leave garbage bags in the break room. If you need additional services please see front desk.

**Please don’t forget to check your mail daily. You might have received packages an we would like for you to receive them on time.

**Remember to put our monthly networking lunch seminar on your schedules! Our guest speaker will be discussing health and fitness. RSVP by June 25th. Space is limited and a drawing will be held for those who attend.

**Receive a $100 gift card on any 12 month VIRTUAL OFFICE contract referred.

*Add Call screening to your monthly call service! Call screening available during business hours for $75/per month/per phone line.

Thanks!!
Kathryn

Business Sense

“In today’s economy, the quickest way to double your money is to fold it in half and put it back in your pocket.”