🤓🚀 Magazines and leadership

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Good morning! Last Friday, I would’ve been very confident that a global tech outage would be the largest news story of the week. Although, I suppose Sunday is technically a new week?

Anyways, let's take a look at this week's trending content.

TRIVIA

Which famous entrepreneur started their first business at age 12, selling a magazine called "Student"?

A. Mark Zuckerberg
B. Richard Branson
C. Elon Musk
D. Jeff Bezos

NEWS

Headlines 👀

⌛ Impact of the Expiring Qualified Business Income Deduction - a significant tax break introduced through the Tax Cuts and Jobs Act of 2017, is set to expire after 2025 unless Congress intervenes. This deduction, which can be as much as 20% of eligible revenue. The intention behind the QBI deduction was to align the tax rates of pass-through businesses more closely with those of corporations, which saw their top federal tax rate reduced from 35% to 21% permanently under the same legislation. According to the IRS, there were approximately 25.9 million QBI claims in 2021, a significant increase from 18.7 million in 2018.

🖥️ CrowdStrike Crash Causes Headaches for Small Businesses - A recent CrowdStrike software update caused global tech outages, affecting small businesses by disrupting email, payment systems, and online operations. Many businesses faced system crashes and connectivity problems, leading to significant operational challenges. CrowdStrike is actively working on fixes, but the outages have already caused considerable inconvenience and financial strain for small businesses dependent on these technologies.

🤑 SBA Announces $3M in Grants to Boost Cybersecurity for Small Businesses- The SBA has launched a $3 million Cybersecurity for Small Businesses Pilot Program. Applications are open from July 2 to August 2, with grants ranging from $1,000,000 to $1,045,000, for a 24-month period ending in September 2026. State agencies will provide cybersecurity training and support to startups and emerging entrepreneurs, helping them develop robust cybersecurity measures.

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FEATURED

Leadership Lessons from Special Forces to Executive Coaching 🫡

In this episode of Mundane Millionaires, Kevin Henderson and Eric Pacifici welcome Christian Ruf, a distinguished entrepreneur and former Special Forces member in the U.S. Army, now leading Uncommon Elite. Christian shares his journey from flying Blackhawk helicopters to becoming an executive coach, offering unique insights into leadership and community building.

Christian's experience in the military, particularly with the 160th Airborne, has shaped his approach to leadership and team dynamics.

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From Bill.com

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• Automate expense reports so you can focus on strategy
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ACQUISITIONS

Business Buying Masterclass: Financial Due Diligence 🔎

In today’s session, we dive into the critical topic of financial due diligence, a cornerstone in the acquisition process.

To enrich our discussion, we’ll integrate insights from industry experts Chris Williamson of Cayne Crossing and Elliott Holland of Guardian Due Diligence.

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OPERATIONS

The Why and How of SMB Leadership Recruitment

There are a lot of misconceptions about recruiting as a whole, but in summary:

• Recruiting is a skill.
• Recruiting is a sales function.
• Recruiting is a core business foundation.

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• Founder-led content is more important than ever.
• Last year, I bought a multi-million dollar business...operating it remotely from another state....and in an industry I had no prior experience in…
• Interviewed someone yesterday that spends between $350k & $500k a year on Masterminds, he says they’re worth every penny.

See More Great Tweets

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‍FUN STUFF

• Nike’s “Winning Isn’t for Everyone” Olympics ad will give you goosebumps
• Michelob Ultra become third-most popular beer in US, Bud Light slips again
• 'Twisters' rocks box office with powerful $80.5 million opening weekend
• EA cashed in as 2.2 MILLION people paid an extra $30 ($100+ total) to play College Football 25 3 days early

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TRIVIA ANSWER

B. Richard Branson

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