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woensdag 29 juli 2009

Arranging Furniture Storage

Sometimes, there isn't enough room for all of your belongings – and arranging storage, on top of moving can be a blessing in disguise – or a nightmare. So you need another, convenient, cheap option for your furniture.

Storage companies are basically large warehouses or lockups that you can rent – and range in size from a box room to an area large enough to store a complete house.

Storage is great if you're needing to move out of one house before your other hoese is ready – or when you've sold your old house but haven't finished arranging the new one. It saves the you having to work out what to do with your things.

It's also a good idea when you have too much furniture for your new house, and no where to store it yourself – and while garages and basements are great for short term storage, they aren't protected, in some cases against the elements, nor, possibly insured against accidents, such as fires or flood. Garages and basements also, while accessible, may also need to be used for other things.

It is possible for your belongings to be damaged in storage, but highly unlikely – you'll be given a list of belongings that you're checking in – and you should check at that time that everything is secure, sealed and stacked or placed well.

If you're moving long distance, its always good to research, throughly, by phone and if possible, in person, how much access you'll have to your furniture, and belongings, and what sort of notice you need to give – you'll also need to work out what is going into storage and how much space you'll need for it all.

If you're unsure of storage companies, and you're using a removal company – ask them – they may have a group of storage companies they deal with, and offer you a better premium than you may otherwise get. It also means that you've got less research to deal with.


dinsdag 28 juli 2009

3 Million Items and Counting, Bidville Becomes Big Business

Since their introduction, online auction sites have been making e-history as some of the most popular destinations on the Internet. From designer-label clothing to grandma's jewelry to cars and even houses, anything and everything imaginable can be auctioned off online.

People who place items for sale on auction sites are attracted to the prospect of building a business from home with no morning traffic jams and little required capital to start. And bidders are drawn to the unique shopping opportunities and the potential to purchase hard-to-find items from all over the world.

Increasingly, buyers and sellers are discovering the unique benefits of using emerging sites rather than the giants of the industry, such as eBay. Bidville.com is one such site that has been quietly gaining momentum in the wake of eBay's ongoing fee increases.

Bidville started in 1999 primarily as a sports card auction site, but began expanding its merchandise base in late 2003 to take advantage of burgeoning market opportunities. Throughout 2004, its membership base increased to nearly 1 million members and the number of items listed daily reached 3 million. In addition, the site now has more than 600 "storefronts" that sell anything from collectibles to electronics at a fixed price.

Bidville markets itself as "the alternative auction site" because it does not charge listing fees. Rather, sellers pay what's called "final success fees" after their items sell. These fees, at no more than 5 percent of the selling price, are lower than what other sites charge.

So what is the key to Bidville's success? The company is striving to expand its growing community of loyal members and makes it a policy to give them personalized attention. While most auction sites answer questions with an automated reply, Bidville has live customer service representatives who respond to all queries within 24 hours.

In its extensive community section, there is ample opportunity for member interaction via the Member to Member Help Desk, the Bidville Cafe, where members can share stories and make friends, and the Sellers Forum, where members can discuss successful selling tips and offer suggestions for site improvements. A special charity section allows nonprofit organizations to use Bidville to raise money for good causes.


maandag 27 juli 2009

Share Your Knowledge with Others for Cost-Effective Online Marketing

Every day, online surfers are seeking information on millions of subjects. Whether they need to know how to fix an appliance, promote their online business, play better golf, or how to write a book, there are plenty of questions to go around. If you own a business and are quite knowledgeable in a particular subject, you can benefit from cost-effective online marketing through knowledge creation and management.

Questions and Answers are Lucrative for Your Business

Imagine answering questions for very targeted Web surfers every single day and getting free exposure for your website in the process. Wouldn't this be the ultimate form of online marketing for your business? When you provide answers to those tough, not-so-common questions in your field of expertise, you're doing just that.

You'd be amazed at how educating potential customers can help increase your business. It's a secret that marketing gurus have known for years, but many online business owners fail to recognize its potential. When you provide answers to questions from a targeted readership, then your business suddenly hits the spotlight as the "expert" in its field. Potential customers will begin to trust you simply by reading your articles. They will feel as if they already know you when they arrive at your website, and they will be much easier to convert to real paying customers.

Free Advertising and Ads Revenue Sharing

There are two ways to use knowledge creation and management for your benefit online. One, you can add knowledge through articles and tips posted at your own website or in a newsletter. Two, you can publish your articles and tips at other websites to receive advertising benefits.

Some websites will allow you to advertise free through ads or a bio on your particular article pages. Others might allow you to share revenue from other businesses that advertise on your article pages. This is called ads revenue sharing. Both can offer long-term benefits, especially as the traffic to your article pages grows over time.

Multiple Opportunities

Online marketing through knowledge creation and management can be focused on one particular knowledge-based website or multiple websites. The choice is yours. With multiple websites, you might post the same article on many different websites (if allowed) or you might write different articles for only one website. Either way, you'll have multiple opportunities to advertise your business or to enjoy profits from ads revenue sharing.

Cost-effective online marketing through knowledge creation and management gives you the freedom to share what you know with your targeted audience without paying for advertising or taking unnecessary risks while implementing a marketing strategy.

Search online for specific questions you can answer and write articles based on these questions. Or, you can hire a writer to put your thoughts into words for you. Either way, you can provide answers that will draw targeted readers to your website for years to come. Once you establish yourself as an expert in your field, your online business will grow like never before!


zondag 26 juli 2009

'Shifts' to Help You in Times Good or Bad

Six months ago, the economy was roaring. Stock prices were going up, interest rates were staying low, unemployment was down. A few months later, those indicators all were going in opposite directions. Now, it's hard to tell from day to day where we stand.

I'm optimistic that the current situation is a short-term one, and that long-term prospects are for growth and good times. But that doesn't mean that there won't be dips, sometimes deep, along the way. The question is: Are you positioned to take advantage of the good times and navigate the bad?

You have to expect one as well as the other. Fortunately, there are "shifts" you can take that will serve you well during both.

1. Get out of debt. The quicker the better. You can't take advantage of opportunities when you're mired in debt. And there are opportunities in both good times and in bad. In both, debt keeps you from profiting from the opportunities that present themselves. In bad, it magnifies the negative, as the cost of money increases and debt service becomes an ever-increasing portion of your expenses.

2. Think globally. No longer can we afford to think and act locally. We must have a broader

vision. We must think about how our vocation, our business and our industry will operate in a global economy - because it already does.

3. Be entrepreneurial. This is the age of the free agent. Even if we are and plan to continue working in a larger company or organization, we must at least think like an entrepreneur. We need to be "in-trepreneurs." Seniority and experience does not have the value that it did. Producing results - and profits - is what matters.

4. Become a capitalist. The wealthy own assets, the rest own liabilities - things that cost money to own and maintain. Capitalism is not a dirty word. A capitalist, by definition, is someone who owns assets - assets that produce income. Stock, equipment and businesses are assets that generate income. In America, 80 percent of all millionaires are self-made. Be one of them.

5. Be flexible. Things are moving at a rapid pace. This demands adaptability. Things will not remain the same, nor will they go back to the way they used to be. We must be willing to change directions quickly. It's dodge and weave time. It is time to embrace change. Shift happens!

zaterdag 25 juli 2009

3 Cold Calling Mistakes that Trigger Rejection

Here are 3 common cold calling techniques that you should probably avoid:



Mistake #1: Center the conversation around yourself and what you have to offer



In the old approach, you introduce yourself, explain what you do, and suggest a benefit or feature of your product. And then you close your eyes and pray that the other person will be interested



Unfortunately, the moment you stop talking you usually hear, "Sorry, I’m busy," or "Sorry, I'm not interested."



You see, you’ve started your cold call by talking about your world and what you have to offer. But realistically, most people aren’t all that interested in you. When you talk about your company and your product, it’s just another advertisement to them. You haven’t engaged them, so they often just "turn the page."



Prospects are much more interested in themselves and what’s important to them. So if you start the conversation by focusing on their world, they’re more likely to interact with you.



So instead, talk about an issue or problem they may need solving. Focus on them rather than on what you have to offer. And see where it takes you.



Mistake #2: Be confident they should buy your product or service



In the old cold calling mindset, you’re taught to focus on the sale and be completely confident that what you’re offering is something the other person should buy.



The problem with this approach is that you haven’t asked them to determine this along with you. So think about it – in the old mindset, you’re really deciding for someone else what’s good for them. I know this isn’t intended, but that’s exactly what comes across to your prospects.



So rather than being full of confidence and enthusiasm, stop for a minute and think about the other individual. Relax into a real conversation instead of moving into a persuasive strategy or sales pitch. Put yourself in their shoes and invite them to explore along with you whether what you have to offer is a match for them.



Others really can distinguish the difference. You’re inviting them to see if you might be able to help them solve a problem. This makes for a much better connection right at the beginning, and you’ll get that immediate rejection reaction much less.



Mistake #3: When someone brings up an objection, try to overcome it



You know, one of the reasons cold calling is so difficult is that sometimes you may not be very familiar with the other person and their business. When you make that first call, you don’t know very much about their issues, problems, budget, and time constraints.



Chances are, not everyone is going to benefit by your product or service.



So realistically, your company or product isn’t going to be a match for everyone. And yet, when someone brings up an objection ("we don’t have the budget for that," etc.), the old cold calling mindset trains you to "overcome," "bypass," or "override."



But when you do that, you put the other person on the defensive. Something they’ve said is being dismissed. And here’s where rejection can happen very suddenly.



So it’s much better to listen to their concerns and continue to explore whether what you’re offering makes sense for them. There are some wonderful phrases you can use that validate their viewpoint without closing the conversation.



So now you’ve discovered the 3 major cold calling mistakes people often make. See if you can shift away from those old self-sabotaging mindsets. When you do, you’ll notice that people will engage you much more, and the immediate rejection you’ve grown so accustomed to will happen much less.




vrijdag 24 juli 2009

“The Cons of a 50/50 Equity Business Partnership.”

This article could have been titled “The Pros and Cons of a 50/50 Equity Partnership”, but the cons far outweigh the pros. When partnerships are formed, the obvious concerns are addressed. How do each partner’s skills-set and experience complement each other? How much will each partner contribute to get the business going? How long will they grow the business until they entertain selling it? Is that it? … hardly.

Once the business gets going no doubt economic and industry variables change which affect the business. Each partner’s perception of the direction the business should go changes as well. There are constant decisions with regards to the mixture of product and service offerings … the decision to get into another line of business or get out of one. Should the focus be on a higher volume, lower profit margin business model or vice versa? What about a shift to a more capital intensive model. If the business becomes a success, many times potential investors creep in, whether an angel investor or venture capitalist. Both partners need to agree on the investment proposal.

What if one of the partners acquires an asset for the business whether it’s land, a building, a small data center, a thousand servers, or to complicate things further contributes an intellectual asset of some sort. When the company is going to be sold, what is the value of the partner’s contributed asset? Who is supposed to value it? This can become an insurmountable hurdle. Most buyers know not to value any one piece near what it’s worth by itself.

When it’s time to sell the company, the financial situation of each partner has no doubt changed since the company was founded. The consideration for the company could be all cash, all stock or a combination of cash and stock. The tax implications of each of the three scenarios are different for each partner. I have seen the process of divesting a company go up in smoke too many times because the partners didn’t agree on the proposed deal. They spent years growing the business then totally disagree about when to sell, who to sell to, and/or how much to sell it for.

Business is about return on equity, not “all for one and one for all”. My suggestion … one ship, one captain.


donderdag 23 juli 2009

Merchant Accounts For Restaurant Owners

A merchant account for restaurant owners may be just the thing to help your business grow. If you have experimented with several marketing techniques and feel that you are ready to venture into e-commerce, this might be the venue you need to help your business really take off and start bringing in high-level profits.

Many banks and financial institutions that offer Visa and MasterCard accounts can provide a merchant account for restaurant owners. After building a solid community reputation and maintaining a clean credit history, you will have the credentials you need to apply for a merchant account. Keep in mind that the bank’s underwriters may not feel comfortable conferring this privilege to companies that are involved in questionable activities like pornography, spam, mail drug orders, and so on. Some merchant account providers will let you complete the application online, taking just minutes to fill out.

Your merchant account for restaurant owners could be approved in a matter of hours or days. The company may send a confirming email message or you might receive a letter in the mail. Either way, you probably will not have to wait very long for an answer, and then a few days more and your credit card processor will be installed and ready for use on the premises of your restaurant. If you make home or business deliveries, staff members who transport orders can process credit card payments when you equip them with a portable wireless unit. They won’t have to worry about carrying cash for change or accepting a check that may bounce at the bank.

After receiving a merchant account for restaurant owners, you may decide to put up a restaurant Website for marketing purposes. Your Website can feature attractive photos of inside and outside the restaurant location, along with a map and driving instructions that can be downloaded. The site might include a menu with posted specials as they become available on the schedule. A price list or wine list might be helpful, along with a brief bio of the owner, manager, hostess, or head chef with photos. Food arranging or meal planning tips might be offered weekly to keep customers coming back for the newest postings on your Website, which serves as a marketing tool and a bridge that keeps customers connected to your restaurant when they are not visiting. You may even want to include an occasional discount coupon or free beverage, which will serve as added inducements to keep people coming back. The more comfortable they become with visiting your Website, the more likely they are to place orders and pay online.

Learning to surf the Web as a restaurant owner with a merchant account can be both fun and challenging. You will enjoy the opportunity of presenting your eatery to the world via the Web pages posted at your site and then checking messages and payments to appreciate your impact on the global community. These are some of the attractive benefits of a merchant account for restaurant owners.


woensdag 22 juli 2009

What Is It Millionaires Have That Make Them Millionaires?

Ever wonder what makes a millionaire different from your average Joe? Why is it some are "meant" for riches while others are "meant" for poverty? Well, it is simply a choice.

When you realize that to have success is to simply choose success is when you will see results in your life. Now you're probably wondering how does somebody choose success? If you were to go back and study all of the successful entrepreneurs, for example Ford, Edison, Gates, they all had one thing in common: The Mindset For Success.

It's not just luck or by chance that people are successful nor does someone happen to just make a million dollars. The elite realize that there are exercises, daily practices, and knowledge that can get anyone to the top and this knowledge is accessible to anyone who truly desires wealth in their life.

Now, how does someone jump over the gap from being an employee to becoming a successful entrepreneur and living a lifestyle of absolute freedom and abundance? Well, without the right training, without daily mental preparation, this task would seem insurmountable. However, with the right people mentoring you and with the knowledge that can get you basically anything you desire, YOU CAN'T FAIL! The only x-factor is you; do you really believe that you weren't meant to have success and wealth in your life, but that wealth and success were meant for others? Ask yourself, are you truly ready to leap from mediocrity to excellence?

You Now Have a Choice...

dinsdag 21 juli 2009

Sales From The Crypt

In today's contemporary society, where everything can be done already over the Net, online shopping is one lucrative activity for the seller and convenience for the buyer.

This is where eBay comes in the limelight. Every online shoppers and online traders can benefit a lot in eBay. But because of its wide diversity, things being sold on eBay had increased to amore wider, broader, and weirder.

Yes! With the wide access and convenience eBay gives to its members, there were reports that even the weirdest things were auctioned and even sold on eBay.

Here are some of them:

1. Ghost in a Jar

There was an actual report about an item, dubbed as a "ghost in a jar", being sold on eBay. The seller narrated in his item description how he got the jars (there were two, actually). The seller claimed that the remaining jar contains some "black thing" based on what happened to the other jar after it fell to the ground and emitted some sort of black smoke.

The auctioned placed 60 bids during the listing and had reached $90 million. Though, there are no concrete reports as to whether the sale was really closed or who got the item in that amount.

2. Vampire killing kit

This refers to a kit suitable for some "vampire hunters". This kit includes an ebony wood stake, a crossbow with four silver-tipped arrows, a variety of surgical instruments, and a large bottle of holy water.

3. UFO Detector

This is a modified magnetometer manufactured by a Brazilian company. It was said on the auction that this item can actually detect an approaching UFO or can spot an UFO activity.

4. Russian Test space Shuttle

It's a spacecraft built by a Russian company. The actual reserve price for this item is $2 million but was auctioned and bid on eBay with only a small percentage from its actual selling price.

5. Serial Killer's Fingernails

This refers to the fingernails of a certain Roy Norris who sailed to Southern California, in 1979, for a killing binge that murdered five people. He was with a certain Lawrence Bittaker.

These fingernails are placed at the back of a Christmas card with Norris' note, signature, and black thumbprint.

These are just a few of the weirdest things that a buyer can get on eBay. In fact, there are thousand others lurking in eBay and are waiting for some eager and gullible bidders.

maandag 20 juli 2009

Self-Employed Jobs

Being self-employed often sounds exciting. The thought of not having to work for anyone else and being able to enjoy your freedom is appealing. Those who decide to take this route anytime soon will find out that this is often not the case and realize that they will actually be working longer, harder hours for a few years as they try to get their business off the ground. The difference in being self-employed and working for someone else is that now everything rests on your shoulders. When you were working for someone else, you didn't have the responsibility of the whole company to worry about, it didn't matter too much if the company was a financial success or not, it was not your concern – it is now. In this article, we will look at some types of businesses that you can have at home.

1. If you are a pet lover then consider a pet-based business from home. You may be one of those individuals that animals of all kinds are drawn to, and if so this type of business is perfectly suited to you. A pet-business can involve everything from pet sitting, to walking and training pets, and providing supplies and toys to the pet owners. More than 60 million American homes have pets and that is a huge market for a home based business on any level.This kind of work can be done world-wide with very little start up costs. Most pet owners will spoil the beloved animals with anything that they find is cute, fun, and practical.

2. Home improvement is an excellent self-employed business opportunity, as homeowners will pay to have items removed from their residence as well as fixing up much needed repairs. This is an excellent source of income for the person who is good at fixing things and loves to clean and clear items from one place to another. During the warmer seasons, this is a great way to make extra income. Obviously you cannot do this type of business with a car so you will need a pick-up truck of some type or a vehicle that is capable of carrying away a variety of items.

3. If you are good at typing and have knowledge of how to work a computer, you may want to consider medical transcription. Transcription can be done at home and if you do not have much medical knowledge you can brush up on medical terminology or even through taking a quick course at your community college or other institutes. This is a demand that will not slow down anytime soon. Doctors offices, dentists, and even veterinarians all need someone to transcribe their records. If you are good at typing and familiar with Word documents and formatting this is a good choice for you.

Home-based jobs are becoming very popular for many families who are looking to increase their income but not necessarily work outside of the home.

freelance

zondag 19 juli 2009

Is having a Business in Your Home Legal

There are various laws you will need to consider before you start running a home business. Millions of businesses are operated illegally out of peoples homes, in violation of their local laws. This approach isn’t recommended. You should always try to do things legally, and consider moving if home businesses aren’t allowed where you live. You should contact your local governmental body and ask them about zoning laws in your area. Check these things out before starting your home business or you could run the risk of being shut down.

Zoning laws If you live in a residential area zoning laws could restrict what you do there in terms of business. There are good reasons for this. What if your neighbor opened his house as a shop? Zoning laws also keep rich developers from buying up neighborhood homes and turning them into businesses, increasing traffic problems and lowering property values. The laws are there to protect your neighborhood, and to stop business from interfering with people’s home lives. Ask about zoning laws in your neighborhood and consider a visit to a lawyer. Zoning laws vary greatly from place to place.

Strict Zoning Policies In many areas a strict ‘no business’ policy is enforced, if you try to start a home business without permission. You may need to make a formal application and there could be a public hearing to give other residents a chance to object. There could also deed restrictions set by the developer or homeowners’ association regarding operating a home business. Even if there are other businesses in your neighborhood, you may still need to get approval from officials and neighbors. Talk to other home business owners in your area for any advice they can give you.

Percentage Policies Some areas allow you to use only a percentage of your house for business, and are unlikely to make exceptions, to avoid residential properties from becoming completely commercial. Perhaps only 20% of your house could be used for business. This can be restrictive if you have a small house or need storage.

Restrictions by Industry It is worth checking if there’s an exception in the zoning laws for the home business you’re starting. Artists are often excluded from the laws, as well as people who give lessons, such as music teachers. Doctors and dentists are also common exceptions.

Signs, Traffic and Visitor Rules The laws in your area may have special restrictions for signs and traffic. You could be restricted from putting anything on your property considered advertising, not even a sign with the name of your business on it. Trucks bringing deliveries to your house can pose a big problem, especially if someone complains about them, and there are lots of children in your area. People like their street quiet, not constantly busy. Some laws allow only a set number of visitors per day to your business, or restrict the number that you can have at one time.

zaterdag 18 juli 2009

House Flipping for Profit

A lot of people these days are preaching about the buying and holding method of gaining wealth with real estate. There indeed may come a time in your life or business when you'll want to hang onto a piece of property, although you'll only be interested in keeping certain types of property. If you're just starting out, flipping a house may be an ideal way to get started.

Basically, there are three ways that you can flip a house, although each one has it's own terms, motivation, and type of property. The first method is known as retailing. What this means, is that you buy a house in bad shape, do the repairs to fix it up, then turn around and sell it. There are a variety of houses in need of repairs out there, and several ways that you can quickly flip a house to net profit. All you need to know are the techniques that will get you the most money in the least amount of time.

The second way you can flip a house is though wholesaling. Wholesaling involves finding a home for sale then flipping it to an investor for a fast, yet small profit. To do this, you'll need to know the real estate investors in your area, the types of homes that flip the best, and how to fund your property so you can flip it to them. If you live in a big area or a city, you'll find that using the wholesaling method of flipping houses is actually easier to accomplish.

The third way to flip a house is by assigning the purchase. Using this method, you'll commit to buy the house. Instead of closing the deal yourself, you'll assign it to a real estate investor - of course for a small fee. The investor will take the contract over and close the purchase themselves - flipping the house. This can be very profitable, especially if you invest in the right home. You don't need to have your contract worded any special way to be legal, although you will need to determine the assignment fee.

If you're looking to break into the real estate market and make big bucks, you'll need to learn all about flipping houses. Flipping houses is very profitable, especially once you have learned the basics. The first and third methods are the best, although they will both take quite a bit of work on your part. Restoring homes isn't easy, and you'll need to have a team qualified to handle any repairs. Assigning the purchase may be difficult when you first start out, although it will get easier with time. If you stay at it and do your best to make a profit - you'll be an expert at flipping homes in no time at all.

vrijdag 17 juli 2009

"Hello, I'm Johnny Cash"- Surprising Lessons For Work At Home Moms

I've unearthed some surprising bits of wisdom for new wahms by listening to Johnny Cash lately. I thought I would share some of these tidbits from the Rockabilly legend.

1) Understand Your Man ...er, target market!
That's right. Do you understand your target market? Are you aware of her needs, desires and driving ambitions? Does your website speak to your target audience? If not, perhaps you should make some changes or your website visitor or customer will be "as gone as a wild goose in winter" too!

2) A Boy Named Sue
Life ain't easy for a boy named Sue...and life ain't easy for a wahm either. In your business you will have those confidence killers, dream stealers, fun suckers...whatever you want to call them. You will have people who try to tell you that you can't achieve your goals, that what you try won't work. Don't let them get you down!
Sue's father told him, "This world is rough, and if you're gonna make it, you've gotta be tough."
How can you get tough in your business?

3) Man In Black- or Branding 101
J.R. Cash didn't don the all black suit because he didn't have anything else to wear. It was his trademark. He wore all black for a reason.
What about you? Are you working on your brand? In a world full of Elvis Presleys and Jerry Lee Lewises, how will you stand apart? And remember, your target market doesn't have to be just like you- Johnny Cash wrote Folsom Prison Blues and connected with inmates when he had never yet step foot in jail!

4) The Legend of John Henry's Hammer
This song has two bits of wisdom:
a) Learn your business and you will succeed
John Henry's Daddy told him to: "Learn to a turn a jack, learn to lay a track, learn to pick and shovel too." Are you learning all you can about Internet Marketing so that you can succeed in your business? Do you reinvest in ebooks, coaching and mentoring, and software like John Henry's hammer?
b) Technology has its place but it can't take the place of humans.
When the steam engine threatened to take the place of men, Johnny proved that in the end, humans are more valuable. Learn to use technology (like autoresponders) but remember that your website visitor is a human and inject some of yourself into your marketing efforts.

5) One Piece at a Time
This ballad is about a man who decides to build a Cadillac. He steals one piece at a time from the assembly line "and it didn't cost him a dime". But in the end, it didn't work out exactly like he planned!
Does your website look like a pieced together jalopy? Are you unwilling to spend any money on your own domain and hosting, content with a free site cluttered up with ads?

6) In The Jailhouse Now
Please don't throw away your hard work by doing one of the following things:
Spamming Copying other people's articles or contentStealing graphicsClicking on your Adsense adsNot keeping records and neglecting to pay taxes
It just isn't worth it, and you may find yourself in the jailhouse. Much better to Walk the Line so you can sleep at night.

7) Ring of Fire
Maybe you've made a bad choice... entered into a shotgun romance with a business that's not right for you. Don't be afraid to realize this, chuck everything and start over! Don't beat your head against the wall if, after working hard on a project, you decide it's just not profitable. Better to find your match and pour your energies into that.
In this song, June Carter Cash chronicles her growing attraction to John. Though they were both involved with other people, they were obviously soul mates and ended up making music and growing old together for the next 40 years.

May you make beautiful music with your business!

donderdag 16 juli 2009

10 Financial Yardsticks for Your Small Business

Time and again, accountants and consultants who specialise in small businesses say that such enterprises don't pay enough attention to cash flow. That's the measure of how much money you really have in the business.

Be Wary of Big Contracts

"Small entrepreneurs wind up taking big orders that get them in trouble," says Ronald Lowy, who heads a college business administration department. "They want the big contract, but they're not getting enough money at the front end of it and they don't have the cash reserves to pay workers and other bills while they're waiting to get paid themselves. They might show a profit on an accrual basis, but from a cash-flow standpoint, they don't."

Judith Dacey, a certified public accountant, calls a cash-flow statement "probably the most important thing in telling you if your business is on or off target." As an example she describes how board members of a non-profit group were not examining their cash-flow statements.

"They were hiring people and spending money on membership campaigns, and doing all of these things based on money they thought they had from looking at the profit-and-loss (P&L) statements," Dacey says. "They didn't realise that the profit-and-loss statement was an accrual statement, which basically means you are including paper promises of payments to come, not money that you have in the bank."

The non-profit board became aware of the difficulty only when the organisation bounced a check. Employees had to be laid off, and belts were tightened. "That could have been avoided if they'd seen the cash-flow statements," Dacey says. "A cash-flow statement tells you here's the cash that has actually come in and that you can work with."

A statement of cash flow starts with the bottom of your profit and loss statement — the line that shows your net income. Several adjustments are made to that number. The details are a little complex but a good accounting program that does a P&L and a balance sheet will also calculate this statement for you.

Tracking the Big 10

If you've established a way to track cash flow, then you can go on to organise and track 10 financials for your business. That's a big list, but don't panic: As with profit and loss statements, you can take advantage of software programs to automate tracking for many of the following:

Your Assets

Tracking your equipment, furniture, real estate and other holdings should be easy. But to have a true idea of the value of your business, you also have to track changes in the value of those assets. More than one small business has found itself located on a piece of land that's worth more than the business itself. Similarly, you also will want to track the declining value of assets such as computers and office furniture.

Your Liabilities

On the face of it, this is easy — liabilities are what you owe. But what you owe isn't always as obvious as a bill from your landlord. Payroll taxes are a liability that depend on the size of your payroll. Loans are a clear liability, but in repaying them you'll want to be able to track how much of a payment is applied against principal and interest.

What does it Cost You to Produce What You Sell?

If you're buying a finished item for resale, this is relatively easy. It's trickier if you have to calculate all the factors, such as labour, that go into manufacturing a product.

What's it Costing You to Sell What You Sell?

Advertising, marketing, labour, storage and the catch-all category of overhead — it's useful to know how much it costs you to get a product sold as well as what it costs you to create it.

What's Your Gross Profit Margin?

This is calculated by dividing your total sales into your gross profit. If your gross profit margin is staying consistent or trending upward, you're probably on track.

Being able to track a declining margin can give you a heads-up that you must adjust your prices or your costs. In the worst cases your gross profit and profit margin disappear altogether. At that point, you'll be like the fellow who lost money on every sale but figured he could make it up in volume. Don't do it.

What's Your Debt-to-asset Ratio?

This ratio can let you know how much of the stuff you have in your company is actually owned by someone else — your lender. Having this ratio climb can be a bad sign. It can happen as part of a major expansion, but it can also indicate that you're getting in over your head.

What's the Value of Your Accounts Receivable?

This is the money you are owed. If accounts receivable are on the rise, you may be getting a warning that the folks you sell to are starting to stumble.

What's Your Average Collection Time on Accounts Receivable?

This is probably one of the most aggravating pieces of information for cash-strapped businesses, because it tells you how many days you're acting as 'banker' for the people who owe you money.

What Are Your Accounts Payable?

The flip side of accounts receivable. An increase in your accounts payable may merely reflect a larger amount of purchases overall. But an increase that hasn't been planned or managed can be an internal warning that your company's financial strength is waning.

What's Happening With Your Inventory?

There are occasions, even in this just-in-time business world, when building up a significant inventory can be a good thing.

If prices for items you sell or use in production are relatively low, putting some of your money into inventory may make sense.

Being able to track your inventory can tell you whether business is increasing or slowing down. It also tells you how much money is tied up in this unproductive asset.

Knowing what's up with your cash flow is essential to your business. But sometimes the figures can be difficult to understand. Don't ever be afraid to turn to professionals for some help.

woensdag 15 juli 2009

32 Words That Can Change Your Life

We all have ways of testing opportunities that enter our lives. Some of us just dive right in based on feeling, others walk straight into what they know is right by a gut feeling or intuition. And if it’s not gut feelings or emotions that are the tests of opportunities, it is the logical mind persuading us to ignore those feelings and emotions and test it with our reality of reason.
Most of us do not have a predetermined strategy for testing opportunities, or even more generally to test the actions we take and the choices we make in our lives.

There is an easier way to determine if our choices we make and the opportunities we receive ‘pass the test’. This simple 32 word statement of business ethics was first created in the 1930s and used to turn around a failing company. These four questions were applied by each employee to each and to every minute detail of the company’s workings. This little list of four questions from Rotary International, a humanitarian business organization, is the most widely printed, translated and reproduced piece of business ethics today:
“Of the things we say, think or do:1. Is it the TRUTH?2. Is it FAIR to all concerned?3. Will it build GOODWILL and BETTER FRIENDSHIPS?4. Will it be BENEFICIAL to all concerned?”
If we built businesses and our lives based on these very simple 4 questions we would be coming from a place completely the opposite of the competitive mind and the lack mentality. As you can see, these questions prompt you to choose what is true, fair, and good, making choices that can build friendships and goodwill. It helps us to see how the choices we make can be beneficial to all concerned.

Because of our societal influences, we most often are inclined to make choices and act based on a competitive mind. This comes from the perspective of lack, scarcity, and ultimately greed.
Any opportunity based on the model of competition and lack will simply not pass the test. Competition promotes strife. It embodies winning one spot, taking it away from all the other people who want it. It misleads people to believing there is only one chance for success, when in reality there is plenty for all.

The competitive model encourages people to rely on a source outside of themselves to give them what they need. This denies the power of their own ability to create what they want. This narrow focus shows they are choosing to ignore the possibility of creating this opportunity in their own lives, instead of trying to win the spot from millions of others.
This simple testing technique takes us completely out of the competitive mind of greed, scarcity and lack. It turns our thoughts and choices toward the positive, realizing there are opportunities we can take that can provide increase for all concerned.

I invite you to use these questions to test your actions and opportunities in your life. If you are seeking opportunity, these questions may help you see things in a different way. In doing this, perhaps you might find an opportunity in your life which truly allows you to benefit the world, while at the same time reaching whatever your dreams, goals, and desires are.