You surely know that a small idea can lead to a great business success. The first movement is to think of an idea that would be suitable for the business market. After coming up with the idea, the next step is to put that idea into action. Of course, this is a very difficult step and having the idea is only the start of the journey. After that you will have to face many obstacles before being able to carry on with your business project. This is just the beginning of this process and there is a lot of questions you will have to answer before even start.
Some of the main aspects you have to concentrate on when you have business ideas are the abilities and gifts you can pour into the business. It is very important for you to be identified with your business project. Those ideas should be based on activities and actions you take pleasure in doing. For example, if we suppose that you dislike working in the open, landscaping business would not suit you. On the other hand, if you like working with children, setting up baby-sitting or tutoring business would be an excellent idea. In this case, without any doubt you business will be more successful because you will have put your mind, effort and also your heart on it.
Another vital step is to analyze the needs of a specific product or service in your region before setting up your business. Do people of your area need your product? Are there other business like the one you are planning to start? You should ask yourself whether or not you are the only one offering that service or product. If you are not, you will have to analyze the competence you will have to face. You have to think whether the service you are offering is one that customer would repeat, or if it is a one-time specialized service. Obviously, the former are more likely to succeed than the latter.
There are other aspects you have to take into account. These aspects are described below:
- One of them is that if the idea is unique, you will reign the market. But if there is much competition, it will be difficult to enter into the market.
- A second point would be if you can offer quality from the very beginning, otherwise, you won't succeed.
- Finally, you have to think about your capital to start your own business. There are many business ideas that require little investment and bring great profit. Some demand research, such as daycare service, and others need a large amount of money to begin the business. So take this recommendation into account before investing all your money in a small business idea.
Winning in the Global Economy - Will You be a Victim or Victor?
If you’re still playing by the “How to Achieve the American Dream” rules of your father and grandfather, then:
1. You’ve been downsized out of one or more jobs.
2. You company merged with corporation ABC and you’ve been rightsized out of a job to reap the “synergies” of the merger.
3. You’ve trained your replacement in Bangalore prior to your job being outsourced.
4. You’re working 60 to 80 hour per week and getting paid for 40 hours out of fear of either 1), 2), or 3) above.
5. You’re working under contract and think you’re an entrepreneur or a “consultant”, but you’re really just an “employee without health benefits”.
6. You’re recently retired from a large corporation with a “secure” pension that’s about to be decimated (defaulted to the federal government) so your former employer can continue to compete in the global economy.
The job churn I’ve just described is not just about globalization, however globalization and a digital world with high bandwidth has altered the playing field in corporate america and labor is now a commodity that can and will be acquired anywhere in the world. That either means off-shoring production and even R&D to places like Mexico or China, or digitally outsourcing high skilled jobs like software development to India.
You could argue that not every job is pressured by globalization and you’d be right. There are about 50 million private-sector workers (nurses, truckers, supermarket and other retail clerks, hotel and restaurant employees, construction workers, janitors, security guards, etc.) whose jobs can't be shipped to Beijing or Calcutta. However, these are not the high paying jobs you and I are talking about. The hard fact is that for more and more highly trained and skilled workers the labor pool is now global and you’re competing for work with a newly minted accountant, MBA, software engineer, or physics Ph.D. from India, Singapore, the former Soviet block, or China.
In the last fifteen years the global workforce has doubled in large part due to the embrace of market capitalism by India, China, the countries of the ex-Soviet Union. In addition, U.S. technical dominance and its share of science and engineering graduates at all degree levels is declining rapidly. In 1970 over half of world’s the science and engineering doctorates were granted in the U.S. Today, the European Union has already surpassed the U.S. and projections for 2010 show the EU producing twice as many science and engineering doctorates as the U.S. and if current trends continue, China will actually surpass the U.S. Bottom line, more justification for U.S. Corporations to move R&D and other science and engineering functions offshore.
So what are your choices? You might decide that you’re powerless and blame corporate greed and hope the government or “someone” will step in to protect your “sovereign right” to a high paying job. After all, you did all the right things, got that great education, made good grades, and worked hard. Well for one, corporations are not being greedy they are just seeking the lowest cost of doing business and competing as well as they can. If that is no longer in the best interests of the their “county of origin” labor pool, that is not their problem. Their allegiance is to the shareholder, that is how they are structured and financed. Think the government with save you? Think again, corporations accounted for a huge amount of the funds raised in the last election cycle and therefore own a good deal of political capital. Besides that, globalization in the long run is good for the world economy and for our long-term prospects of peace and prosperity. However, in the near term it’s going to be painful transition unless you wake up to the fact the the ground has shifted and you have to find a new way to achieve Your American Dream.
1. You’ve been downsized out of one or more jobs.
2. You company merged with corporation ABC and you’ve been rightsized out of a job to reap the “synergies” of the merger.
3. You’ve trained your replacement in Bangalore prior to your job being outsourced.
4. You’re working 60 to 80 hour per week and getting paid for 40 hours out of fear of either 1), 2), or 3) above.
5. You’re working under contract and think you’re an entrepreneur or a “consultant”, but you’re really just an “employee without health benefits”.
6. You’re recently retired from a large corporation with a “secure” pension that’s about to be decimated (defaulted to the federal government) so your former employer can continue to compete in the global economy.
The job churn I’ve just described is not just about globalization, however globalization and a digital world with high bandwidth has altered the playing field in corporate america and labor is now a commodity that can and will be acquired anywhere in the world. That either means off-shoring production and even R&D to places like Mexico or China, or digitally outsourcing high skilled jobs like software development to India.
You could argue that not every job is pressured by globalization and you’d be right. There are about 50 million private-sector workers (nurses, truckers, supermarket and other retail clerks, hotel and restaurant employees, construction workers, janitors, security guards, etc.) whose jobs can't be shipped to Beijing or Calcutta. However, these are not the high paying jobs you and I are talking about. The hard fact is that for more and more highly trained and skilled workers the labor pool is now global and you’re competing for work with a newly minted accountant, MBA, software engineer, or physics Ph.D. from India, Singapore, the former Soviet block, or China.
In the last fifteen years the global workforce has doubled in large part due to the embrace of market capitalism by India, China, the countries of the ex-Soviet Union. In addition, U.S. technical dominance and its share of science and engineering graduates at all degree levels is declining rapidly. In 1970 over half of world’s the science and engineering doctorates were granted in the U.S. Today, the European Union has already surpassed the U.S. and projections for 2010 show the EU producing twice as many science and engineering doctorates as the U.S. and if current trends continue, China will actually surpass the U.S. Bottom line, more justification for U.S. Corporations to move R&D and other science and engineering functions offshore.
So what are your choices? You might decide that you’re powerless and blame corporate greed and hope the government or “someone” will step in to protect your “sovereign right” to a high paying job. After all, you did all the right things, got that great education, made good grades, and worked hard. Well for one, corporations are not being greedy they are just seeking the lowest cost of doing business and competing as well as they can. If that is no longer in the best interests of the their “county of origin” labor pool, that is not their problem. Their allegiance is to the shareholder, that is how they are structured and financed. Think the government with save you? Think again, corporations accounted for a huge amount of the funds raised in the last election cycle and therefore own a good deal of political capital. Besides that, globalization in the long run is good for the world economy and for our long-term prospects of peace and prosperity. However, in the near term it’s going to be painful transition unless you wake up to the fact the the ground has shifted and you have to find a new way to achieve Your American Dream.
Why Your Projects Are Not Being Completed
Here are 5 common reasons why your projects are going over schedule, over budget, and generally under expectations of quality.
1. Overextending on your resources: Or simply doing more than what your resources whether it be in finances, human capital, strategic partnerships, time, etc.
2. Micromanaging: Instead of looking over the shoulders of your team mates, focus more on the overall strategy alignment and faciliate intra/extra departmental communications.
3. lack of strategic vision, feature-creep, too tactical (putting out fires, playing catch-up vs how to sustain long term competitive advantage)
4. Eating an elephant whole: no matter how well thought out the project is, the individual pieces may be perfectly executed on time and on budget but then it's impossible or extremely difficult to integrate the pieces. Instead it is probably a better idea to chunk out the projecs to produce measurable results such as described in the "rapid results initiative" where specific quantifiable milestones are set, and once reached can be either built upon or scrapped depending the the goal discovery process.
5. Poor communication between cross-functions: Bureaucracy is part of the game, get used to it, or better yet, learn to be a better communicator and have not just let the marketing or engineering head decide on the project requirements but set aside time to get insight from all constituents and stakeholders.
The untold story, beyond financial losses
Not only do failed projects cost time and money, sometimes amounting to several years, and millions of dollars. But it demoralizes all the stakeholders to the project, especially the frontline employees and managers that had direct reign and input into the project.
As has been quoted in the media and surveys, the majority of projects fail to meet expectations or even sustainable results. Therefore an improvement in the knowledge of the field of project management is perhaps the bare minimum in advancing one's career, or business success in this high paced environment.
1. Overextending on your resources: Or simply doing more than what your resources whether it be in finances, human capital, strategic partnerships, time, etc.
2. Micromanaging: Instead of looking over the shoulders of your team mates, focus more on the overall strategy alignment and faciliate intra/extra departmental communications.
3. lack of strategic vision, feature-creep, too tactical (putting out fires, playing catch-up vs how to sustain long term competitive advantage)
4. Eating an elephant whole: no matter how well thought out the project is, the individual pieces may be perfectly executed on time and on budget but then it's impossible or extremely difficult to integrate the pieces. Instead it is probably a better idea to chunk out the projecs to produce measurable results such as described in the "rapid results initiative" where specific quantifiable milestones are set, and once reached can be either built upon or scrapped depending the the goal discovery process.
5. Poor communication between cross-functions: Bureaucracy is part of the game, get used to it, or better yet, learn to be a better communicator and have not just let the marketing or engineering head decide on the project requirements but set aside time to get insight from all constituents and stakeholders.
The untold story, beyond financial losses
Not only do failed projects cost time and money, sometimes amounting to several years, and millions of dollars. But it demoralizes all the stakeholders to the project, especially the frontline employees and managers that had direct reign and input into the project.
As has been quoted in the media and surveys, the majority of projects fail to meet expectations or even sustainable results. Therefore an improvement in the knowledge of the field of project management is perhaps the bare minimum in advancing one's career, or business success in this high paced environment.
When Is The Best Time TO Take Your Company Public
CEO’s often call and ask me what the revenues and net profit should be before going public, they seem to think that there is a magic number that qualifies a private company into becoming a public company.
There is no set amount of revenues or net profit that is required to take your company public, then when is the absolute best time to go public?
The short answer would be when you don’t need to, or your company is not desperately looking for financing in order to survive.
Instead you are looking for capital in order to finance growth and expansion, or you would like to use the public shares as currency to make acquisitions.
But life isn’t always perfect, so we will take a look at a few questions asked by CEO’s that have called me looking to go public.
What should revenues and net profit be before going public? A company could conceivably have 5 consecutive year of profitability and be a bad candidate for going public.
I recently had a CEO called me from such a company, the revenues and net profit were identical for the previous five years but robust compare to many of the companies you see going public in the NASDAQ BB and Pink Sheets today.
But I didn’t see any growth in either revenues or net profit nor any indication that there was going to be some in the future, the CEO did not know where future growth would come from.
I told him that if he was just going public so that he could tell friends that he was the CEO of public company then he shouldn’t go public.
But if he could develop a strategy for growth and put together a business plan outlining how he was going to grow revenues and net income, he could become an outstanding candidate for going public.
The opposite of that would be a company that has been losing money for 5 years but is exhibiting growth in revenues every year and the losses are smaller.
This company has a business plan and targets for business expansion and every year is meeting those targets, and going public is part of the business strategy. So you tell me which company has the greater potential of being a successful public company?
Investors are always looking for growth candidates to put their money in to. So they will go with the company that has the potential to make them the most money in the future.
Another situation that I often come across is CEO’s who want to go public and don’t have any money for the audit or the legal fees.
There are certain expenses associated with going public that need to be paid. These CEO’s often want to do a reverse merger because it’s the fastest way to go public, but Public Shells are expensive and could be the costliest avenue use to go public.
When a private company purchases a Public Shell, the purchaser must perform a thorough due diligence of the Public Shell to make sure that it is clean and not bringing any past legal problem to the private company.
The due diligence process often get neglected because the private company is not familiar with the ins and outs of the public arena.
So they often take the advised given by the shell owner and submit to his demands. When companies rush to go public they often live to regret it, short cuts can be very expensive. I always give CEO’s who call me the alternative to reverse merger, such as Direct public offering, Regulation D or IPO but if their minds are already made up or they may have already purchased the Shell without doing proper due diligence.
I will do all I can to try and make it work but the CEO must be warn of the perils ahead and how to prepare for them. For example if he does have a lot of shareholders and a lot of shares outstanding he must reverse split the shares to reduce the number of shares available for sale including those own by the Shell owner.
The Shell owner will often require the private company to sign an agreement not to reverse the share prior to the sale, if they agree to this demand they will be making a big mistake.
Also if the company hires an investors relation firm to do PR work and pays them in stock they will see a temporary interest in the company’s shares while the IR is dumping their share.
An IR firm must be carefully and thoroughly check out by asking for names of previous and present client, just pull up chart of their clients stock and see if you detect a sudden rise in the share price and a quick drop once they began dumping their shares.
There isn’t such a thing as a perfect time to go public and if you start preparing early you will be ahead of the curve, start by having your financials audited. This is something that will have to be done and so if you do as you go along you wont have the big expense all at once.
Have a business plan prepared and that is a mirror of your vision and strategy, you will not stick to a business plan that does not reflect your ideal and your vision of what is going to work.
Make sure the business plan is sound and also flexible, it must allowed for a change in direction when one is warranted. A business plan is like a road map, it has a starting point an a destination, you mapped out the way you want to go but sometimes you must take and different route to get there.
Make sure you have capable competent people in the right positions a small company is not the place for specialist, you must have people who can multi task or you will be force to hire more employees than necessary.
Remember nobody know your business like you do but there are certain business principles that that must be adhere to, as well as ethical conduct that must be applied.
If you just follow the golden rule “Do unto others and you would have them to unto you” you will have done your part. Because you always reap what you sow.
You must be wise in selecting the people you deal with. There are a lot of unscrupulous character in the shell and consulting business who will sell you on going public even if you are not ready.
They will also sell you a Corporate Shell and anything else they can, and before you know you will be calling a legitimate consultant to help you but it may be too late.
I recently had a phone call from a CEO who had a nice small company but he need capital to finance the growth in the business, the company was growing every quarter but was trading for pennies because it had over 150,000,000 shares outstanding.
I suggested that he needed to do a reverse split before I could go to my financing people, because nobody will put money into a company that is so diluted. He replied that he couldn’t reverse the shares do to an agreement with the shell owner.
When you buy a shell make sure you are buying the entire flow and that the shares in the hands of the public is not substantial.
Otherwise choose an alternative way of going public. Reverse Merger is not the only way to go public.
Reverse Merger may be the least desirable option for some people, So before taking any action look into the other options available. If the consultant you hire only know Reverse Merger maybe its time to look for somebody else. There isn’t a perfect time to take your company public, it must be part of your over all business strategy and vision, and it requires a desire to make work.
There is no set amount of revenues or net profit that is required to take your company public, then when is the absolute best time to go public?
The short answer would be when you don’t need to, or your company is not desperately looking for financing in order to survive.
Instead you are looking for capital in order to finance growth and expansion, or you would like to use the public shares as currency to make acquisitions.
But life isn’t always perfect, so we will take a look at a few questions asked by CEO’s that have called me looking to go public.
What should revenues and net profit be before going public? A company could conceivably have 5 consecutive year of profitability and be a bad candidate for going public.
I recently had a CEO called me from such a company, the revenues and net profit were identical for the previous five years but robust compare to many of the companies you see going public in the NASDAQ BB and Pink Sheets today.
But I didn’t see any growth in either revenues or net profit nor any indication that there was going to be some in the future, the CEO did not know where future growth would come from.
I told him that if he was just going public so that he could tell friends that he was the CEO of public company then he shouldn’t go public.
But if he could develop a strategy for growth and put together a business plan outlining how he was going to grow revenues and net income, he could become an outstanding candidate for going public.
The opposite of that would be a company that has been losing money for 5 years but is exhibiting growth in revenues every year and the losses are smaller.
This company has a business plan and targets for business expansion and every year is meeting those targets, and going public is part of the business strategy. So you tell me which company has the greater potential of being a successful public company?
Investors are always looking for growth candidates to put their money in to. So they will go with the company that has the potential to make them the most money in the future.
Another situation that I often come across is CEO’s who want to go public and don’t have any money for the audit or the legal fees.
There are certain expenses associated with going public that need to be paid. These CEO’s often want to do a reverse merger because it’s the fastest way to go public, but Public Shells are expensive and could be the costliest avenue use to go public.
When a private company purchases a Public Shell, the purchaser must perform a thorough due diligence of the Public Shell to make sure that it is clean and not bringing any past legal problem to the private company.
The due diligence process often get neglected because the private company is not familiar with the ins and outs of the public arena.
So they often take the advised given by the shell owner and submit to his demands. When companies rush to go public they often live to regret it, short cuts can be very expensive. I always give CEO’s who call me the alternative to reverse merger, such as Direct public offering, Regulation D or IPO but if their minds are already made up or they may have already purchased the Shell without doing proper due diligence.
I will do all I can to try and make it work but the CEO must be warn of the perils ahead and how to prepare for them. For example if he does have a lot of shareholders and a lot of shares outstanding he must reverse split the shares to reduce the number of shares available for sale including those own by the Shell owner.
The Shell owner will often require the private company to sign an agreement not to reverse the share prior to the sale, if they agree to this demand they will be making a big mistake.
Also if the company hires an investors relation firm to do PR work and pays them in stock they will see a temporary interest in the company’s shares while the IR is dumping their share.
An IR firm must be carefully and thoroughly check out by asking for names of previous and present client, just pull up chart of their clients stock and see if you detect a sudden rise in the share price and a quick drop once they began dumping their shares.
There isn’t such a thing as a perfect time to go public and if you start preparing early you will be ahead of the curve, start by having your financials audited. This is something that will have to be done and so if you do as you go along you wont have the big expense all at once.
Have a business plan prepared and that is a mirror of your vision and strategy, you will not stick to a business plan that does not reflect your ideal and your vision of what is going to work.
Make sure the business plan is sound and also flexible, it must allowed for a change in direction when one is warranted. A business plan is like a road map, it has a starting point an a destination, you mapped out the way you want to go but sometimes you must take and different route to get there.
Make sure you have capable competent people in the right positions a small company is not the place for specialist, you must have people who can multi task or you will be force to hire more employees than necessary.
Remember nobody know your business like you do but there are certain business principles that that must be adhere to, as well as ethical conduct that must be applied.
If you just follow the golden rule “Do unto others and you would have them to unto you” you will have done your part. Because you always reap what you sow.
You must be wise in selecting the people you deal with. There are a lot of unscrupulous character in the shell and consulting business who will sell you on going public even if you are not ready.
They will also sell you a Corporate Shell and anything else they can, and before you know you will be calling a legitimate consultant to help you but it may be too late.
I recently had a phone call from a CEO who had a nice small company but he need capital to finance the growth in the business, the company was growing every quarter but was trading for pennies because it had over 150,000,000 shares outstanding.
I suggested that he needed to do a reverse split before I could go to my financing people, because nobody will put money into a company that is so diluted. He replied that he couldn’t reverse the shares do to an agreement with the shell owner.
When you buy a shell make sure you are buying the entire flow and that the shares in the hands of the public is not substantial.
Otherwise choose an alternative way of going public. Reverse Merger is not the only way to go public.
Reverse Merger may be the least desirable option for some people, So before taking any action look into the other options available. If the consultant you hire only know Reverse Merger maybe its time to look for somebody else. There isn’t a perfect time to take your company public, it must be part of your over all business strategy and vision, and it requires a desire to make work.
There Are Tons Of Small Business Grants For Womwn...But Where?
When starting a small business it can be costly, and finding a
grant if you’re a women isn’t always the easiest thing to do.
Little do most people know, there are millions of dollars just
waiting to be claimed for grants from the government and other
little-known organizations. It can be very difficult to find
the right grant for you, and the place of where to get it, but
with a few clicks you too can easily get access to small
business grants for women.
It is not a secret that women are beginning to own more and more
businesses everyday. Not only this, but these businesses are
becoming just as successful if not more then men’s businesses
are. If you are looking for a grant, don’t be hesitant to look
because of what the business is going to be. There are
literally hundreds to thousands of grants out there for women
wanting to start craft businesses, consulting, brokerage, record
labels and more.
When looking for a grant, there is the option of spending
hundreds of dollars to pay somebody to get you a grant.
However, there are other ways that are completely free, but may
be more time consuming then you would hope. One site that is
worth checking out is The Ladies Club 2000.com. It is required
that you sign up and become a member, free of charge, but then
you will have access to grant information on how you can become
qualified for a grant and where you can find grants to begin
your business or increase your business.
http://www.theladiesclub2000.com/grantsforwomen.htm
There are all kinds of companies out there, and the type of
grant that you will receive varies for place to place. On
womens-finance.com, there are two different kinds of grants
offered. There is the New Business grant that is between $100
and $5,000, and there is the existing business grand that ranges
from $1,000-$5,000. You do have to apply at this site and be
accepted, but it is worth checking this site out below:
http://www.womensbusinessgrants.com/
It may not seem like it, but our government does want you to
succeed, and that is why there is millions of dollars out there
for you. Most places have ridiculous requirements in order to
get a grant such as being over 65, being a minority, or even
having bad credit sometimes help the process.
There are sites out there that are specifically looking for
women only to give grants to. These sites are attempting to
help the women population succeed in entrepreneurialism and
begin the road to succession. The site listed just below here
has a list of about ten different sites that are specifically
looking for women to give grants to.
http://www.womanowned.com/Growing/Funding/Opportunities.aspx
There is no reason to get frustrated after not having any luck
finding loans. The government wants you to succeed in opening
your small business, or help develop it that much more. There
are a few sites listed above that are very much worth checking
out to help you find small business grants for women. Don’t get
discouraged as this can be time consuming, but once you find the
financial help needed, you will be on your way to developing
your business.
grant if you’re a women isn’t always the easiest thing to do.
Little do most people know, there are millions of dollars just
waiting to be claimed for grants from the government and other
little-known organizations. It can be very difficult to find
the right grant for you, and the place of where to get it, but
with a few clicks you too can easily get access to small
business grants for women.
It is not a secret that women are beginning to own more and more
businesses everyday. Not only this, but these businesses are
becoming just as successful if not more then men’s businesses
are. If you are looking for a grant, don’t be hesitant to look
because of what the business is going to be. There are
literally hundreds to thousands of grants out there for women
wanting to start craft businesses, consulting, brokerage, record
labels and more.
When looking for a grant, there is the option of spending
hundreds of dollars to pay somebody to get you a grant.
However, there are other ways that are completely free, but may
be more time consuming then you would hope. One site that is
worth checking out is The Ladies Club 2000.com. It is required
that you sign up and become a member, free of charge, but then
you will have access to grant information on how you can become
qualified for a grant and where you can find grants to begin
your business or increase your business.
http://www.theladiesclub2000.com/grantsforwomen.htm
There are all kinds of companies out there, and the type of
grant that you will receive varies for place to place. On
womens-finance.com, there are two different kinds of grants
offered. There is the New Business grant that is between $100
and $5,000, and there is the existing business grand that ranges
from $1,000-$5,000. You do have to apply at this site and be
accepted, but it is worth checking this site out below:
http://www.womensbusinessgrants.com/
It may not seem like it, but our government does want you to
succeed, and that is why there is millions of dollars out there
for you. Most places have ridiculous requirements in order to
get a grant such as being over 65, being a minority, or even
having bad credit sometimes help the process.
There are sites out there that are specifically looking for
women only to give grants to. These sites are attempting to
help the women population succeed in entrepreneurialism and
begin the road to succession. The site listed just below here
has a list of about ten different sites that are specifically
looking for women to give grants to.
http://www.womanowned.com/Growing/Funding/Opportunities.aspx
There is no reason to get frustrated after not having any luck
finding loans. The government wants you to succeed in opening
your small business, or help develop it that much more. There
are a few sites listed above that are very much worth checking
out to help you find small business grants for women. Don’t get
discouraged as this can be time consuming, but once you find the
financial help needed, you will be on your way to developing
your business.
The Procurement
There are several things that are important about procurement that you should consider. In a business standpoint, timing is virtually essential. If you are like many business owners, the best time is the time when prices will be low enough to handle. This can be quite difficult to call and even more so, it will be difficult to manage. But, when procurement is used effectively, your business truly can reach new heights. What should you consider in procurement?
• You will want to consider the timing. If you take delivery of the product now, will you have to pay additional inventory costs? If you wait another week, will it be less likely to cost as much? This would be quite vital information in a large organization that is using procurement for large quantities of items.
• What about the cost? One of the most difficult things to call is pricing. Will it be lower today than it was yesterday? Or, will prices begin to rise soon? Knowing when to make your move is quite critical.
• Also, you’ll want to consider the procurement as in how much risk you are taking on. Companies that can not afford risk in finances shouldn’t look towards large, risking procurement options. Instead, a safer option is necessary. But, the opposite can be true as well.
• The bottom line in the procurement process is making decisions. In order for you to be effective at purchasing at the lowest prices at the right time, you need to be able to make a decision. Oftentimes people miss their chance because of the what ifs. In business, a what if will cost you big time.
Taking the time to analyze the procurement in order to determine whether or not it is a good move is up to you. You can find reasons to wait, of course, but if you are to get anywhere with the procurement, a decision to grab it and go with it has to be made as well.
• You will want to consider the timing. If you take delivery of the product now, will you have to pay additional inventory costs? If you wait another week, will it be less likely to cost as much? This would be quite vital information in a large organization that is using procurement for large quantities of items.
• What about the cost? One of the most difficult things to call is pricing. Will it be lower today than it was yesterday? Or, will prices begin to rise soon? Knowing when to make your move is quite critical.
• Also, you’ll want to consider the procurement as in how much risk you are taking on. Companies that can not afford risk in finances shouldn’t look towards large, risking procurement options. Instead, a safer option is necessary. But, the opposite can be true as well.
• The bottom line in the procurement process is making decisions. In order for you to be effective at purchasing at the lowest prices at the right time, you need to be able to make a decision. Oftentimes people miss their chance because of the what ifs. In business, a what if will cost you big time.
Taking the time to analyze the procurement in order to determine whether or not it is a good move is up to you. You can find reasons to wait, of course, but if you are to get anywhere with the procurement, a decision to grab it and go with it has to be made as well.
The One Key To Huge Online Success
If you’re at all human then you know how tempting it is to spend money as soon as you earn it. This is especially true with an online business.
How exactly can you avoid this common temptation and gain huge online success?
Or better yet you probably want to know: Why do I need to avoid doing this in order to have huge online success?
I know how it is when you receive your first online check. You get so excited, and the first thing you want to do is rush out and spend it.
There are things that you want to buy, things that you NEED to buy. Am I right?
Doing so will not lead to huge online success. Yet most people argue that they earned that money for the express purpose of spending it. So why shouldn’t they spend it?.
If you want huge online success, you’ll never get it with this attitude. There is only one thing I have to say to first time internet marketers:
What ever you do, DON'T spend that money!
If you do there won’t be a lot more where that came from, and without any more you’ll hardly be a “huge online success.” Once you spend that money it will be gone for good.
As internet marketing guru John Reese says: “You MUST sacrifice early profits to be a huge online success!”
Yup, sacrifice.
Thats a tough sounding word isn’t it?
Makes it sound heart rending and very painful, doesn't it?
Although it may sound hard at first to sacrifice those early checks, it will pay off in the end. Because if you do it will lead to huge online success.
It really becomes quite easy to sacrifice early profits once you think it about it in the right light.
Here is my secret to huge online success:
I pretend that I didn’t get any money. Now of course I know that I actually did get money.
What I mean by pretending is that I handle all finances, and purchases as if I hadn’t just received a check in the mail.
If I didn’t have enough money to buy something I really wanted before I got the check, then I certainly don’t now. This takes quite some will power of course, but is really necessary if you want to have huge online success.
The “Method” Behind My Madness
The reason for all this is that you are going to reinvest this money you’ve earned (whether the amount is $10 or $100) back into your online business.
A truly good investment for this money would be using it to actively promote or learn how best to promote your product or an affiliate product. This investment is a great step towards your huge online success.
At first you will want to reinvest all of the money you earn, but as your profits get bigger and bigger you will be able to reinvest only half of the amount.
Here are a few of the various ways you can use to promote your product or someone else’s that can lead to huge online success:
1. Purchase a high quality product or software that will teach you the information you need to know to market successfully. Believe me it will be well worth your money and bring you a long way toward huge online success.
2. Become an advertiser on google adwords or any other quality Pay Per Click (PPC) Search Engine like Overture.
3. Get your product (if it’s electronic) listed on Clickbank. This costs a one time start up fee for your sellers account, but is well worth it.
Trust me, if you reinvest all of the small paychecks you receive and part of later bigger ones, you will continue to rake in the money and become a huge online success.
Now don’t just go and forget this information either. Put it to use. Take action in boosting your online sales by taking this one step that almost always guarantees huge online success.
How exactly can you avoid this common temptation and gain huge online success?
Or better yet you probably want to know: Why do I need to avoid doing this in order to have huge online success?
I know how it is when you receive your first online check. You get so excited, and the first thing you want to do is rush out and spend it.
There are things that you want to buy, things that you NEED to buy. Am I right?
Doing so will not lead to huge online success. Yet most people argue that they earned that money for the express purpose of spending it. So why shouldn’t they spend it?.
If you want huge online success, you’ll never get it with this attitude. There is only one thing I have to say to first time internet marketers:
What ever you do, DON'T spend that money!
If you do there won’t be a lot more where that came from, and without any more you’ll hardly be a “huge online success.” Once you spend that money it will be gone for good.
As internet marketing guru John Reese says: “You MUST sacrifice early profits to be a huge online success!”
Yup, sacrifice.
Thats a tough sounding word isn’t it?
Makes it sound heart rending and very painful, doesn't it?
Although it may sound hard at first to sacrifice those early checks, it will pay off in the end. Because if you do it will lead to huge online success.
It really becomes quite easy to sacrifice early profits once you think it about it in the right light.
Here is my secret to huge online success:
I pretend that I didn’t get any money. Now of course I know that I actually did get money.
What I mean by pretending is that I handle all finances, and purchases as if I hadn’t just received a check in the mail.
If I didn’t have enough money to buy something I really wanted before I got the check, then I certainly don’t now. This takes quite some will power of course, but is really necessary if you want to have huge online success.
The “Method” Behind My Madness
The reason for all this is that you are going to reinvest this money you’ve earned (whether the amount is $10 or $100) back into your online business.
A truly good investment for this money would be using it to actively promote or learn how best to promote your product or an affiliate product. This investment is a great step towards your huge online success.
At first you will want to reinvest all of the money you earn, but as your profits get bigger and bigger you will be able to reinvest only half of the amount.
Here are a few of the various ways you can use to promote your product or someone else’s that can lead to huge online success:
1. Purchase a high quality product or software that will teach you the information you need to know to market successfully. Believe me it will be well worth your money and bring you a long way toward huge online success.
2. Become an advertiser on google adwords or any other quality Pay Per Click (PPC) Search Engine like Overture.
3. Get your product (if it’s electronic) listed on Clickbank. This costs a one time start up fee for your sellers account, but is well worth it.
Trust me, if you reinvest all of the small paychecks you receive and part of later bigger ones, you will continue to rake in the money and become a huge online success.
Now don’t just go and forget this information either. Put it to use. Take action in boosting your online sales by taking this one step that almost always guarantees huge online success.
The Important Function of Shredders
Information and identity theft are two growing concerns in the world today. Paper shredders and file shredders can prevent the terrible losses that can occur when valuable information pertaining to a person or a business is stolen. Shredders destroy sensitive documents that contain private information that could cause trouble if obtained by the wrong people. Some of the sensitive information often found on paper items includes birth dates, social security numbers, bank account numbers, and business plans or other finance-related items.
Identity theft can have dire consequences. If a thief obtains someone’s social security number and birth date, he or she can then find out all kinds of financial information about the person and can use the person’s bank account. If this happens, the thief can spend all of the victim’s money, and the victim may or may not have a way of recovering the money. Identity thieves can ruin their victim’s credit by using the stolen credit cards to run up huge debts.
Corporate espionage is another serious problem involving information theft. More often than one might believe, employees steal secret business documents and sell them to competing companies. If thieves steal a business’ financial information, like credit card numbers and bank account numbers, they can spend all of the company’s money and possibly never get caught. It is vital to protect personal and professional information from would-be thieves by destroying documents and computer files that contain the information.
Paper shredders work by cutting sheets of paper into many very small pieces, making it difficult for thieves or corporate spies to reassemble the documents and gain private information. Some shredders cut the paper vertically into ribbons, while others cut the paper in a cross cutting motion, making it much harder to reassemble the page. These paper shredders have a number of features and many can provide maximum security.
File shredders permanently erase files from a computer. Most people think that emptying the computer’s recycling bin erases any files or programs that were in it, but the truth is that these files can be easily accessed using basic retrieval software. File shredding software ensures that sensitive files containing private information can’t be accessed.
Not all types of shredders are used to protect business or personal information. Chip shredders are heavy-duty tools used to break wood, leaves, and other materials down. Once the materials are shredded, they can be used to make mulch or compost.
Shredders are valuable tools in a number of situations. Paper and file shredders provide protection against information theft and chip shredders are valuable landscaping tools.
Identity theft can have dire consequences. If a thief obtains someone’s social security number and birth date, he or she can then find out all kinds of financial information about the person and can use the person’s bank account. If this happens, the thief can spend all of the victim’s money, and the victim may or may not have a way of recovering the money. Identity thieves can ruin their victim’s credit by using the stolen credit cards to run up huge debts.
Corporate espionage is another serious problem involving information theft. More often than one might believe, employees steal secret business documents and sell them to competing companies. If thieves steal a business’ financial information, like credit card numbers and bank account numbers, they can spend all of the company’s money and possibly never get caught. It is vital to protect personal and professional information from would-be thieves by destroying documents and computer files that contain the information.
Paper shredders work by cutting sheets of paper into many very small pieces, making it difficult for thieves or corporate spies to reassemble the documents and gain private information. Some shredders cut the paper vertically into ribbons, while others cut the paper in a cross cutting motion, making it much harder to reassemble the page. These paper shredders have a number of features and many can provide maximum security.
File shredders permanently erase files from a computer. Most people think that emptying the computer’s recycling bin erases any files or programs that were in it, but the truth is that these files can be easily accessed using basic retrieval software. File shredding software ensures that sensitive files containing private information can’t be accessed.
Not all types of shredders are used to protect business or personal information. Chip shredders are heavy-duty tools used to break wood, leaves, and other materials down. Once the materials are shredded, they can be used to make mulch or compost.
Shredders are valuable tools in a number of situations. Paper and file shredders provide protection against information theft and chip shredders are valuable landscaping tools.
The Dangers Of Get Rich Quick Schemes -And Other Money Pits
It is an understandable that millions of people have ambitions, desires or passing wishes to have their own business. Let's face it, countless millions of people are in jobs they do not really like, nor get any satisfaction from. Financially, they get by from to month to month, but cannot build up real wealth. It seems a constant strain to make ends meet; frustrations are commonplace because people have little control over their own lives, they have to live day to day in their employers' cage; frustrated like grounded eagles with their wings clipped.
Maybe they are helping to make their employer rich, but what of themselves? Don't we all deserve the freedom, the riches, that the owners of successful businesses enjoy?
What is easy to forget is that, usually, those business have been built with a lot of blood, sweat and tears. Running a business is very hard work; running a successful business is even harder. Those who have succeeded have usually had a vision, taken calculated risks, researched, worked long hours, and have learnt from inevitable setbacks and mistakes. They have learnt about their market sector, how to run a business, marketing, finance, and the law as it affects them in their business. Although what you may now see is a big business in glossy corporate offices, you can be sure it was originally built from hard graft.
Aah, you may be thinking, that was before the internet. Anyone can do it now! Sorry to disappoint you, but having a successful internet business requires hard work too; it involves an awful lot of learning, maybe years of frustration, many a false dawn that will lift you to the sky and dump you back down on the nearest rock.
Does all that put you off having your own business? Does that all seem too much like hard work? Do you want the benefits without the hassle? Do you resent the rewards of your bosses but turn your nose up at the thought of hard work? If you answer eyes to any of those questions, then you are prime fodder for the Get Rich Quick Schemes :
Welcome To The Internet Danger Zone
Once you start turning your attention to earning money online, you will soon be bombarded with hundreds, thousands, of "opportunities". You will see promises of millions of dollars, doubling your money every few days, turning $1000 into a $1000000 in just a couple of years; promises of thousands of people paying you $20 into your Paypal account for the rest of your life; instant businesses with no work, as someone else will be doing the work for you.
Now, stop and think about it. Be honest with yourself. How realistic are all of those claims? While each of them is possible, how sustainable are they really?
Many newcomers to the world of internet business are wary of scams, and that is good. There are scams around; many of them. But the biggest danger is not deliberate scams, but bad management. The fact is it is easy to set up a business online, which encourages people to do so who have no idea how to run a business, plan for business success, manage finances etc.
Maybe they are helping to make their employer rich, but what of themselves? Don't we all deserve the freedom, the riches, that the owners of successful businesses enjoy?
What is easy to forget is that, usually, those business have been built with a lot of blood, sweat and tears. Running a business is very hard work; running a successful business is even harder. Those who have succeeded have usually had a vision, taken calculated risks, researched, worked long hours, and have learnt from inevitable setbacks and mistakes. They have learnt about their market sector, how to run a business, marketing, finance, and the law as it affects them in their business. Although what you may now see is a big business in glossy corporate offices, you can be sure it was originally built from hard graft.
Aah, you may be thinking, that was before the internet. Anyone can do it now! Sorry to disappoint you, but having a successful internet business requires hard work too; it involves an awful lot of learning, maybe years of frustration, many a false dawn that will lift you to the sky and dump you back down on the nearest rock.
Does all that put you off having your own business? Does that all seem too much like hard work? Do you want the benefits without the hassle? Do you resent the rewards of your bosses but turn your nose up at the thought of hard work? If you answer eyes to any of those questions, then you are prime fodder for the Get Rich Quick Schemes :
Welcome To The Internet Danger Zone
Once you start turning your attention to earning money online, you will soon be bombarded with hundreds, thousands, of "opportunities". You will see promises of millions of dollars, doubling your money every few days, turning $1000 into a $1000000 in just a couple of years; promises of thousands of people paying you $20 into your Paypal account for the rest of your life; instant businesses with no work, as someone else will be doing the work for you.
Now, stop and think about it. Be honest with yourself. How realistic are all of those claims? While each of them is possible, how sustainable are they really?
Many newcomers to the world of internet business are wary of scams, and that is good. There are scams around; many of them. But the biggest danger is not deliberate scams, but bad management. The fact is it is easy to set up a business online, which encourages people to do so who have no idea how to run a business, plan for business success, manage finances etc.
Ten Crucial Questions for Your Business Future
As a business coach I specialize in asking questions.
The right question asked at the right time can effect your business future more than you can imagine. It has the power to completely and instantly shift your mental activity, your entire thought pattern, and ultimately the actions you take. Over the last fourteen years I've asked hundreds of small, medium and very large business owners endless questions which have helped them achieve far greater levels of success than they would have had thinking the way they were -- only moments before.
While the following may not be the only ten questions -- or even THE ten questions, they are ten questions that you must answer if you want your business to flourish. The right answers are critical to your company's future.
1. How many un- or underserved prospective clients are in your target market?
The number of prospective clients - prospects -- available to you relates to two key considerations: the total revenue possible from this client base, and what kinds of marketing tactics will be most cost-effective. If yours is a 'mass market,' advertising will almost certainly be part of the your marketing mix. By contrast, if your market is very small (I once sold software to the top-50 international banks) you can contact each and every prospect individually.
2. How large do you envision your business?
Does your vision include being a Fortune 500 company? If so, check question 1 above, and make sure you've got a whopping market. On the other hand, many of my clients would be completely satisfied generating $5MM with a staff of 50; pocketing $1mm per year and selling the company for $10mm when they are ready. How you answer this question governs the kind of markets you can enter, whether you are vertical or horizontal in nature, mass market or niched, as well as the kind of management structure your organization requires.
3. What important changes are occurring (or have recently occurred) in your market and what is their impact on your business?
The answers to this question may govern changes to your product, your product mix and your marketing campaign. Big changes generally signal big opportunities; however if you aren't prepared for them, they can also signal the demise of your business. Dramatic increases in new housing created significant opportunities for a client who sold estimating software and brought a field-ready, cost-saving product to market just in time.
4. Who is your competition and why are you clearly a better choice for your prospects?
It may shock you (on the other hand, it may not) how many CEOs cannot provide a compelling answer to this question. Recently, I was at a meeting for Microsoft Business Solutions Partners, and spoke to a number of the VARs who came to improve their marketing programs. When I asked about their competitive advantage, three separate resellers answered telling me how long they had been in business, and how well they understood their customers. Yeah? Well, so what. If you don't want to get blindsided by your competitors, you need to understand their capabilities. And if you want to outflank them in turn, you'd better have ammunition more powerful than your length of service.
5. How important is "service" to your clients, and how do you plan to deliver it?
Some markets require high service, some do not. What about yours? If you are playing in a market where customers expect to get their hands held, you need to be geared up for it. A software company client of mine implemented a large and effective sales push, only to have their Help Desk swamped with new customer service requests. Ultimately we fixed this with a set of new support policies, a knowledge base, an active user forum, plus effective staff training -- but it almost sank the company.
6. Is your business model scalable? In other words, could you grow your business by 50%, without your expenses growing by the same ratio?
If not, you can never be any more profitable -- in percentage terms - than you currently are. You may sell more, and earn more in absolute terms, but for each dollar you sell, you will make the same, and probably less, money. This means a potential acquirer will not pay a financial premium for your business, because adding money to your business won't make it more profitable.
7. What are they 3-5 critical factors for your business' success and how would you rate your company in each factor?
Where do the profits in your business come from? What are the areas where you beat the pants off your competitors? Why do clients seek you out? These are the critical areas of success -- and you'd better be damned good at them. Rate yourself on each, and create an improvement program wherever you are lower than an 8. I've done this exercise with many of my business coaching clients, and it has probably created more value than any other.
8. What portion of your business operations have documented, repeatable, scalable systems? Are there systems which cover the critical success areas?
This is the solution to the problem raised in question 6. It is also your ticket to a well-earned vacation. Ask yourself, if you left for four weeks without voice mail or e-mail, would your business be better than you found it, about the same, or a smoldering ruin? You may think that not all areas of a software company lend themselves to systemization, but all the important ones do. Sales? Marketing? Product development? Customer service? Consulting? All systemizable.
9. How good are your finances?
Your financial picture and your market share, analyzed in the context of a growing or shrinking market determines the future of your company. If you've got lots of surplus cash you can weather anything. You can create completely new products if you have to. Next best thing is strong cash flow out of which you can pay for development, buy a competitor, or expand revenues with new technology. (One of my clients recently reinvigorated their business by buying a non- competitive player selling products to their legal clients.) But if your bank account is poor and your cash-flow weak, you are in a tough place -- particularly if your market is shrinking. My Grand Strategy Model would tell you to sell your company for whatever you can get, and invest the proceeds in a healthier market sector.
10. Is your market growing or shrinking, and what is your current market share?
This is the other key to the Grand Strategy. If you dominate your market is there enough room to grow? And if not, who can you steal business from? If your market is expanding there may be years of growth left, but if it is stable or shrinking, the forecast may not be so good. This is where cash balances and cash flow come in. With them you can develop new products and services to expand the size of purchase transactions or increase the frequency of repurchase. If there is just no room for increase, think about how you can tweak your product to redeploy it in an adjacent market space. At a time when a client's customer's just wasn't buying their old products, (and recently, whose customer's were?) we shifted much of their resources into providing interim services, and thereby saved the company until the new products came out.
If you are concerned about questions 5, 6, 7, and 8 above, I have developed a new, comprehensive and first-of-its-kind program to help: The Turnkey Your Business Home Study and Mentoring Program. (http://www.turnkeycoach.com) This is a twelve month hands-on course, containing step-by-step how-to manuals, audio CDs, CD-ROMs, monthly conference calls and personal mentoring and is the only program of its kind in the world, designed to help entrepreneurs and executives create detailed, documented systems and processes to "turnkey" their businesses.
This is the one guaranteed way for you to create duplicable business processes for those things that matter most, and then optimize those same things getting the greatest return on your efforts and your time.
The right question asked at the right time can effect your business future more than you can imagine. It has the power to completely and instantly shift your mental activity, your entire thought pattern, and ultimately the actions you take. Over the last fourteen years I've asked hundreds of small, medium and very large business owners endless questions which have helped them achieve far greater levels of success than they would have had thinking the way they were -- only moments before.
While the following may not be the only ten questions -- or even THE ten questions, they are ten questions that you must answer if you want your business to flourish. The right answers are critical to your company's future.
1. How many un- or underserved prospective clients are in your target market?
The number of prospective clients - prospects -- available to you relates to two key considerations: the total revenue possible from this client base, and what kinds of marketing tactics will be most cost-effective. If yours is a 'mass market,' advertising will almost certainly be part of the your marketing mix. By contrast, if your market is very small (I once sold software to the top-50 international banks) you can contact each and every prospect individually.
2. How large do you envision your business?
Does your vision include being a Fortune 500 company? If so, check question 1 above, and make sure you've got a whopping market. On the other hand, many of my clients would be completely satisfied generating $5MM with a staff of 50; pocketing $1mm per year and selling the company for $10mm when they are ready. How you answer this question governs the kind of markets you can enter, whether you are vertical or horizontal in nature, mass market or niched, as well as the kind of management structure your organization requires.
3. What important changes are occurring (or have recently occurred) in your market and what is their impact on your business?
The answers to this question may govern changes to your product, your product mix and your marketing campaign. Big changes generally signal big opportunities; however if you aren't prepared for them, they can also signal the demise of your business. Dramatic increases in new housing created significant opportunities for a client who sold estimating software and brought a field-ready, cost-saving product to market just in time.
4. Who is your competition and why are you clearly a better choice for your prospects?
It may shock you (on the other hand, it may not) how many CEOs cannot provide a compelling answer to this question. Recently, I was at a meeting for Microsoft Business Solutions Partners, and spoke to a number of the VARs who came to improve their marketing programs. When I asked about their competitive advantage, three separate resellers answered telling me how long they had been in business, and how well they understood their customers. Yeah? Well, so what. If you don't want to get blindsided by your competitors, you need to understand their capabilities. And if you want to outflank them in turn, you'd better have ammunition more powerful than your length of service.
5. How important is "service" to your clients, and how do you plan to deliver it?
Some markets require high service, some do not. What about yours? If you are playing in a market where customers expect to get their hands held, you need to be geared up for it. A software company client of mine implemented a large and effective sales push, only to have their Help Desk swamped with new customer service requests. Ultimately we fixed this with a set of new support policies, a knowledge base, an active user forum, plus effective staff training -- but it almost sank the company.
6. Is your business model scalable? In other words, could you grow your business by 50%, without your expenses growing by the same ratio?
If not, you can never be any more profitable -- in percentage terms - than you currently are. You may sell more, and earn more in absolute terms, but for each dollar you sell, you will make the same, and probably less, money. This means a potential acquirer will not pay a financial premium for your business, because adding money to your business won't make it more profitable.
7. What are they 3-5 critical factors for your business' success and how would you rate your company in each factor?
Where do the profits in your business come from? What are the areas where you beat the pants off your competitors? Why do clients seek you out? These are the critical areas of success -- and you'd better be damned good at them. Rate yourself on each, and create an improvement program wherever you are lower than an 8. I've done this exercise with many of my business coaching clients, and it has probably created more value than any other.
8. What portion of your business operations have documented, repeatable, scalable systems? Are there systems which cover the critical success areas?
This is the solution to the problem raised in question 6. It is also your ticket to a well-earned vacation. Ask yourself, if you left for four weeks without voice mail or e-mail, would your business be better than you found it, about the same, or a smoldering ruin? You may think that not all areas of a software company lend themselves to systemization, but all the important ones do. Sales? Marketing? Product development? Customer service? Consulting? All systemizable.
9. How good are your finances?
Your financial picture and your market share, analyzed in the context of a growing or shrinking market determines the future of your company. If you've got lots of surplus cash you can weather anything. You can create completely new products if you have to. Next best thing is strong cash flow out of which you can pay for development, buy a competitor, or expand revenues with new technology. (One of my clients recently reinvigorated their business by buying a non- competitive player selling products to their legal clients.) But if your bank account is poor and your cash-flow weak, you are in a tough place -- particularly if your market is shrinking. My Grand Strategy Model would tell you to sell your company for whatever you can get, and invest the proceeds in a healthier market sector.
10. Is your market growing or shrinking, and what is your current market share?
This is the other key to the Grand Strategy. If you dominate your market is there enough room to grow? And if not, who can you steal business from? If your market is expanding there may be years of growth left, but if it is stable or shrinking, the forecast may not be so good. This is where cash balances and cash flow come in. With them you can develop new products and services to expand the size of purchase transactions or increase the frequency of repurchase. If there is just no room for increase, think about how you can tweak your product to redeploy it in an adjacent market space. At a time when a client's customer's just wasn't buying their old products, (and recently, whose customer's were?) we shifted much of their resources into providing interim services, and thereby saved the company until the new products came out.
If you are concerned about questions 5, 6, 7, and 8 above, I have developed a new, comprehensive and first-of-its-kind program to help: The Turnkey Your Business Home Study and Mentoring Program. (http://www.turnkeycoach.com) This is a twelve month hands-on course, containing step-by-step how-to manuals, audio CDs, CD-ROMs, monthly conference calls and personal mentoring and is the only program of its kind in the world, designed to help entrepreneurs and executives create detailed, documented systems and processes to "turnkey" their businesses.
This is the one guaranteed way for you to create duplicable business processes for those things that matter most, and then optimize those same things getting the greatest return on your efforts and your time.
Mortgage vs. Real Estate Lead Generation
It is fairly common for real estate companies and mortgage brokers to use leads. There is a difference between mortgage lead generation and real estate generation. Mortgage lead generation deals with people who need to refinance their homes or apply for loans, while real estate lead generation is a service that connects potential buyers with real estate agents.
Mortgage leads are generated in a number of different ways. One way to create the leads is for the lender, that is the mortgage broker, to appear in a paper or online directory. This lets potential customers make the first contact. The lenders give information about themselves, like the interest rates they charge and types of lending programs they offer, along with their contact information. This allows potential borrowers to search out the lender that is best for them.
Real Estate lead generation is somewhat different. It involves connecting prospective buyers to real estate agents. It is usually a good idea to use a real estate lead generation service that uses only inbound leads, meaning that the buyer contacts the lead generator looking for a real estate agent. This way, the lead generator can get the most information possible from the buyer in order to find the most appropriate real estate agent. Many lead generation services use tricks to lure prospective buyers.
Mortgage lead generation helps lenders and borrowers find each other. This service benefits everyone involved. Some of the most successful businesses on the Internet are lead generation agencies.
Mortgage leads are generated in a number of different ways. One way to create the leads is for the lender, that is the mortgage broker, to appear in a paper or online directory. This lets potential customers make the first contact. The lenders give information about themselves, like the interest rates they charge and types of lending programs they offer, along with their contact information. This allows potential borrowers to search out the lender that is best for them.
Real Estate lead generation is somewhat different. It involves connecting prospective buyers to real estate agents. It is usually a good idea to use a real estate lead generation service that uses only inbound leads, meaning that the buyer contacts the lead generator looking for a real estate agent. This way, the lead generator can get the most information possible from the buyer in order to find the most appropriate real estate agent. Many lead generation services use tricks to lure prospective buyers.
Mortgage lead generation helps lenders and borrowers find each other. This service benefits everyone involved. Some of the most successful businesses on the Internet are lead generation agencies.
MBA basics
The MBA is perhaps the most coveted course in today’s world. This course tops the list of courses almost in all the developed and developing countries across the globe. The enthusiasm for the course has brought in many small private institutes etc. to offer this course. However, only those students who have obtained the MBA degree from some recognized eminent university find the best of placements. So the institute or the university is the first factor for a successful career in this field. This article will educate you about the various issues like finance, strategy to study, interview etc. related to choosing MBA as a profession.
• In today’s competitive world there are no shortcuts. The student willing to take admission in one of the best institutes either in Asia or abroad, need to study hard and get the good grades. 3.0 to 4.0 are the minimum grades required at the undergraduate grade point average (GPA).
• Most of the MBA schools or colleges adjudicate the caliber of the student via the GMAT or The Graduate Management Admissions Test exam. This test is to estimate the individual’s knowledge of English, Math and Analytical writing skills. The verbal or English section comprises of 41 questions to be answered within 75 minutes. The questions like correcting the hidden grammatical mistakes etc. The Math section has 37 questions and same 75 minutes. Questions are on various mathematical topics like percentage, ratio and so forth. The writing analysis is based on writing two essays on different issues.
• The school and university depend on the grades that you get in the exam. Good grades will fetch you a deemed university while poor ones may not.
• MBA programs are full time and part time and within this program there are many choices. Like you can take up finance management, HR, etc. it is at the discretion of the student to decide which course to go for.
• Once you have made a preference for the course, the time comes to look at the fee structure. Usually the MBA schools charge a high fee which is not within the reach of students. In this case they look for other financial aids. Many schools offer scholarships, grants etc. that can be looked up to. Else the loan facility is always available. The loan providing banks and companies also consider the grades and the institution that recommends the name of the student. The successful schools are known for producing productive students who can repay the loan conveniently with their salaries.
The FAFSA or the Free Application for Federal Students, loan offered by the federal government is doing remarkable job in this area. However, due to the popularity of the loan, the application should be sent as soon as possible.
• Many MBA schools ask for recommendation letters. This is in order to justify a student’s authenticity. In this case the letter should be taken by an honored and known authority whose recommendation lifts your name in the eyes of its seekers.
• The school life is followed by hunt for a job. If you have passed from a top most school, job is not an issue; still you need to be prepared to win your contenders. When going for an interview wear decent clothes that are not too jazzy and funky and colorful. Practice properly with a friend or family member before the day of interview. Don’t forget to take a copy of resume and cover letter along with your certificates. You need to be familiar with each and every word of your resume and cover letter. Don’t be nervous and maintain a calm composure. Try replying in a prudent manner to all their questions. Even if you make a mistake, don’t let it affect your rest of the answers and your attitude.
So go ahead and chase your dreams!
• In today’s competitive world there are no shortcuts. The student willing to take admission in one of the best institutes either in Asia or abroad, need to study hard and get the good grades. 3.0 to 4.0 are the minimum grades required at the undergraduate grade point average (GPA).
• Most of the MBA schools or colleges adjudicate the caliber of the student via the GMAT or The Graduate Management Admissions Test exam. This test is to estimate the individual’s knowledge of English, Math and Analytical writing skills. The verbal or English section comprises of 41 questions to be answered within 75 minutes. The questions like correcting the hidden grammatical mistakes etc. The Math section has 37 questions and same 75 minutes. Questions are on various mathematical topics like percentage, ratio and so forth. The writing analysis is based on writing two essays on different issues.
• The school and university depend on the grades that you get in the exam. Good grades will fetch you a deemed university while poor ones may not.
• MBA programs are full time and part time and within this program there are many choices. Like you can take up finance management, HR, etc. it is at the discretion of the student to decide which course to go for.
• Once you have made a preference for the course, the time comes to look at the fee structure. Usually the MBA schools charge a high fee which is not within the reach of students. In this case they look for other financial aids. Many schools offer scholarships, grants etc. that can be looked up to. Else the loan facility is always available. The loan providing banks and companies also consider the grades and the institution that recommends the name of the student. The successful schools are known for producing productive students who can repay the loan conveniently with their salaries.
The FAFSA or the Free Application for Federal Students, loan offered by the federal government is doing remarkable job in this area. However, due to the popularity of the loan, the application should be sent as soon as possible.
• Many MBA schools ask for recommendation letters. This is in order to justify a student’s authenticity. In this case the letter should be taken by an honored and known authority whose recommendation lifts your name in the eyes of its seekers.
• The school life is followed by hunt for a job. If you have passed from a top most school, job is not an issue; still you need to be prepared to win your contenders. When going for an interview wear decent clothes that are not too jazzy and funky and colorful. Practice properly with a friend or family member before the day of interview. Don’t forget to take a copy of resume and cover letter along with your certificates. You need to be familiar with each and every word of your resume and cover letter. Don’t be nervous and maintain a calm composure. Try replying in a prudent manner to all their questions. Even if you make a mistake, don’t let it affect your rest of the answers and your attitude.
So go ahead and chase your dreams!
MALLORCA PROPERTIES
If you are looking to buy or rent beautiful properties in Mallorca at low interest and mortgage rates, visit online Mallorca Estate agents for attractive deals.
Mallorca is the best place to buy a property, if you are looking for a relaxed life where you can enjoy the sun, sand and lifestyle of Spain. It is a very beautiful collage of all the qualities of Spain.
Be it a villa, a holiday home or a luxury apartment, you can look for finest Mallorca properties online via Mallorca Estate Agents who can guide and find the best options that suit your taste and budget. Some of the properties in Mallorca are available on very low interest rates and in excellent economic conditions. Perhaps, this is the reason that Mallorca has a very good market for property and is so much in demand.
Moreover, online Mallorca Estate Agents such as Property-in-Majorca.com has qualified, trained and experienced staff to help you buy or rent apartments, villas and properties which suits your taste and budget! Besides giving you buying tips, these people also give you professional advice on all legal and financial matters related to the buying of the property. And there is more. In order to help you own these beautiful places, you can also approach online estate agents to help you procure gets you finance on as low as 3% interest rate.
In collaboration with the local banks, these agents help investors from foreign countries to obtain a very low mortgage interest rate on properties purchased on the island. The local banks provide both, fixed and variable mortgage loans and the interest rates are much lower when compared to any other foreign bank. If you meet the simple requirements set by the local banks, Property in Majorca.com aids buyers in getting a mortgage loan with the possibility of getting finance up to 80% of the taxation value of the property in case of residents and 70% in case of non- residents. It also helps non- residents in opening an account with a local bank in Mallorca and in obtaining an N.I.E, which is an identification number that allows you to buy property anywhere in Spain. After all the formalities are met with, you can get the loan in not more than two weeks time.
So if you are looking for a premier property in Mallorca, visit www.property-in-majorca.com or send a mail to info@property-in-majorca.com to request for a brochure or to get answers to all your queries.
Mallorca is the best place to buy a property, if you are looking for a relaxed life where you can enjoy the sun, sand and lifestyle of Spain. It is a very beautiful collage of all the qualities of Spain.
Be it a villa, a holiday home or a luxury apartment, you can look for finest Mallorca properties online via Mallorca Estate Agents who can guide and find the best options that suit your taste and budget. Some of the properties in Mallorca are available on very low interest rates and in excellent economic conditions. Perhaps, this is the reason that Mallorca has a very good market for property and is so much in demand.
Moreover, online Mallorca Estate Agents such as Property-in-Majorca.com has qualified, trained and experienced staff to help you buy or rent apartments, villas and properties which suits your taste and budget! Besides giving you buying tips, these people also give you professional advice on all legal and financial matters related to the buying of the property. And there is more. In order to help you own these beautiful places, you can also approach online estate agents to help you procure gets you finance on as low as 3% interest rate.
In collaboration with the local banks, these agents help investors from foreign countries to obtain a very low mortgage interest rate on properties purchased on the island. The local banks provide both, fixed and variable mortgage loans and the interest rates are much lower when compared to any other foreign bank. If you meet the simple requirements set by the local banks, Property in Majorca.com aids buyers in getting a mortgage loan with the possibility of getting finance up to 80% of the taxation value of the property in case of residents and 70% in case of non- residents. It also helps non- residents in opening an account with a local bank in Mallorca and in obtaining an N.I.E, which is an identification number that allows you to buy property anywhere in Spain. After all the formalities are met with, you can get the loan in not more than two weeks time.
So if you are looking for a premier property in Mallorca, visit www.property-in-majorca.com or send a mail to info@property-in-majorca.com to request for a brochure or to get answers to all your queries.
MAJORCA PROPERTIES
Do you want to invest your hard-earned money in an asset? Do you want to buy some property, which you can call your own? Are you looking for some property, which has a good location and is affordable as well? If yes, then heave a sigh of relief. Online Majorca Estate Agents can make it very simple for you to buy/sell or rent properties in Majorca.
Majorca is a perfect amalgamation of the beauty, serenity, culture and diversity of Spain. It is the perfect place for spending time with your loved ones, for a vacation or a holiday or simply to spend the rest of your life. Majorca Properties are so captivating that you might need to refrain from making an offer on the first property that catches your eye. It is all these things combined that makes Majorca a premier market for buying or renting a property. And to top it all, the properties are available on low interest rates and in good economic conditions.
Majorca is one of those places in Spain where you can take full advantage of the sun, sand and its lifestyle. And the best part is that the properties listed on online site such as www.property-in-majorca.com are not located in one area. They are spread across Majorca so that all types of property purchase can be catered to. Moreover, there are so many properties that you would definitely find something which suits your budget as well as taste.
Your purpose of buying property in Majorca could be any- a holiday home, a villa, commercial property or plain and simple investment- online Majorca Estate Agents takes care of everything that could be a point of concern for you. They have a group of trained and experienced staff, which advises you on all legal and financial matters related to purchasing property in Majorca. And once you have decided which property to buy, you can procure loans on 3% interest rates!
In addition to this, for mortgages of Majorca property they offer the best rates in Europe. There are possibilities of getting finance, which is as high as 80% of the taxation value of the property.
To view and find finest properties in Majorca, visit Property-in-Majorca.com now. And if you have any queries, just send across an email to info@property-in-majorca.com and your queries will be answered in as less as one working day.
Majorca is a perfect amalgamation of the beauty, serenity, culture and diversity of Spain. It is the perfect place for spending time with your loved ones, for a vacation or a holiday or simply to spend the rest of your life. Majorca Properties are so captivating that you might need to refrain from making an offer on the first property that catches your eye. It is all these things combined that makes Majorca a premier market for buying or renting a property. And to top it all, the properties are available on low interest rates and in good economic conditions.
Majorca is one of those places in Spain where you can take full advantage of the sun, sand and its lifestyle. And the best part is that the properties listed on online site such as www.property-in-majorca.com are not located in one area. They are spread across Majorca so that all types of property purchase can be catered to. Moreover, there are so many properties that you would definitely find something which suits your budget as well as taste.
Your purpose of buying property in Majorca could be any- a holiday home, a villa, commercial property or plain and simple investment- online Majorca Estate Agents takes care of everything that could be a point of concern for you. They have a group of trained and experienced staff, which advises you on all legal and financial matters related to purchasing property in Majorca. And once you have decided which property to buy, you can procure loans on 3% interest rates!
In addition to this, for mortgages of Majorca property they offer the best rates in Europe. There are possibilities of getting finance, which is as high as 80% of the taxation value of the property.
To view and find finest properties in Majorca, visit Property-in-Majorca.com now. And if you have any queries, just send across an email to info@property-in-majorca.com and your queries will be answered in as less as one working day.
Locating a Home Mortgage
When it comes time for you to acquire a home mortgage for your first home or for a second home, or perhaps you are just looking to refinance. Whatever the case may be, it is important to shop around for a home mortgage.
When it comes to a home mortgage, mortgage companies are very competitive, they want and compete for your business, so let them.
There are many places these days to track down a home mortgage, the easiest being the internet.
If you are a person with a good salary and excellent credit looking for a standard home mortgage, you shouldn’t have much trouble tracking one down. It would be as easy as walking into your local bank branch and asking the branch manager to set up an appointment with someone in their mortgage department.
On the other hand, if you are a person whose credit is a little bit challenged, tracking down a home mortgage may prove to be a little bit more challenging.
This is where the internet comes into play. There is a wealth of information to be found and people to help you achieve your dream of obtaining a home mortgage.
The people that are capable of helping you if your credit is damaged or challenged are called mortgage brokers.
Mortgage brokers are not actual lenders. Their job is to shop around for a mortgage for you.
Mortgage brokers easily have access to hundreds of wholesale lenders who lend to people with credit issues and unique situations. So, if your situation is unique, or you have credit issues, a broker may be ideal for you.
If your situation is unique, or your credit is challenged, it is still important to shop around for a home mortgage. By shopping around you will be doing yourself a huge favor, and you could possibly save yourself a bundle of money in closing costs and interest fees’.
Allow for up to four brokers or loan officers to assess your situation, than wait for them to come back at you with an offer. The one that offers you the best deal within reason, should be the one you give most of your consideration to. Good luck.
When it comes to a home mortgage, mortgage companies are very competitive, they want and compete for your business, so let them.
There are many places these days to track down a home mortgage, the easiest being the internet.
If you are a person with a good salary and excellent credit looking for a standard home mortgage, you shouldn’t have much trouble tracking one down. It would be as easy as walking into your local bank branch and asking the branch manager to set up an appointment with someone in their mortgage department.
On the other hand, if you are a person whose credit is a little bit challenged, tracking down a home mortgage may prove to be a little bit more challenging.
This is where the internet comes into play. There is a wealth of information to be found and people to help you achieve your dream of obtaining a home mortgage.
The people that are capable of helping you if your credit is damaged or challenged are called mortgage brokers.
Mortgage brokers are not actual lenders. Their job is to shop around for a mortgage for you.
Mortgage brokers easily have access to hundreds of wholesale lenders who lend to people with credit issues and unique situations. So, if your situation is unique, or you have credit issues, a broker may be ideal for you.
If your situation is unique, or your credit is challenged, it is still important to shop around for a home mortgage. By shopping around you will be doing yourself a huge favor, and you could possibly save yourself a bundle of money in closing costs and interest fees’.
Allow for up to four brokers or loan officers to assess your situation, than wait for them to come back at you with an offer. The one that offers you the best deal within reason, should be the one you give most of your consideration to. Good luck.
Locating a Bad Credit Mortgage
If you are looking to purchase a home or refinance the one you are currently living in, but believe this may not be a possibility for you because you have bad credit, think again.
Just because you have bad credit does not mean you will not be able to receive a mortgage. In fact there are many lenders out there across the United States that are know as wholesale lenders that specialize in lending money to people with bad credit.
The names of these wholesale lenders may not ring familiar to you because they are not the typical lending institutions you see on the street corners of your town, otherwise know as banks.
The first thing you will need to do is locate a few of these wholesale lenders and shop around for a deal you believe to be fair. If you do not have success finding these lenders on your own, you may want to consider using a broker and have them shop around for you.
A broker is not a lender. What they do is assess your situation, than shop around for a lender that deals with bad credit mortgages.
Brokers have access to hundreds of lenders across the country and they can usually find one that has a program that may fit your needs.
Using a broker may not be such a bad idea, they are usually very experienced in their field and will not only find a bad credit mortgage lender for you, they will also council and educate you along the way.
Keep in mind, just because your credit may be less than perfect, does not mean that you are at the mercy of the mortgage companies, you are not.
Mortgage companies are very competitive, especially among the wholesale lenders, so be sure to shop around. Don’t limit yourself to contacting only one broker, say no more than four. Allow for each to assess your situation, than base your consideration of which one you will use on the rate and program that they offer you. Good luck.
Just because you have bad credit does not mean you will not be able to receive a mortgage. In fact there are many lenders out there across the United States that are know as wholesale lenders that specialize in lending money to people with bad credit.
The names of these wholesale lenders may not ring familiar to you because they are not the typical lending institutions you see on the street corners of your town, otherwise know as banks.
The first thing you will need to do is locate a few of these wholesale lenders and shop around for a deal you believe to be fair. If you do not have success finding these lenders on your own, you may want to consider using a broker and have them shop around for you.
A broker is not a lender. What they do is assess your situation, than shop around for a lender that deals with bad credit mortgages.
Brokers have access to hundreds of lenders across the country and they can usually find one that has a program that may fit your needs.
Using a broker may not be such a bad idea, they are usually very experienced in their field and will not only find a bad credit mortgage lender for you, they will also council and educate you along the way.
Keep in mind, just because your credit may be less than perfect, does not mean that you are at the mercy of the mortgage companies, you are not.
Mortgage companies are very competitive, especially among the wholesale lenders, so be sure to shop around. Don’t limit yourself to contacting only one broker, say no more than four. Allow for each to assess your situation, than base your consideration of which one you will use on the rate and program that they offer you. Good luck.
Joint Ventures: The #1 Business Start-Up Plan!
Starting up a business can seem like a daunting task. There's so much to think about, not least how you're going to finance your operation and generate revenue in the shortest amount of time possible.
Of course, there are many resources available, both in the online world and offline world, to help you succeed. Some are free, others are not. Out of the free resources that are at the disposal of business start-ups one of the most potent - yet frequently overlooked - are joint ventures.
Joint Ventures
Joint ventures are the key to business success. You can start with nothing and create a multi-million dollar business solely through the creation of business collaborations from which you can profit. All it takes is a little determination and the right approach…but what is the right approach?
The answer to that is simple: Look for companies that have a natural powerful synergy with yours!
Say you are starting up an online travel agency. You have the web site and you have the vacation deals, but how are you going to reach your target customers? The key is to look for other businesses in the travel industry whose customers could benefit from your product. By doing so you'll gain instant access to primed customers for no money down!
Airlines for instance will have a database of clients who travel. In exchange for offering say a discounted vacation package to airline customers, where the airline shares in the profits made from a sale of a vacation package to their customers, you could gain a customer database of several thousand people overnight! Similar joint ventures could be forged with car hire firms, hotels and even other travel web sites. The possibilities are endless!
Finding joint venture partners
Joint venture partners are easily found by registering your company details with a joint venture matching service like www.jvbase.com . These types of companies specialize in finding joint venture partners who have that natural powerful synergy. Of course, your business is not legally bound in any way to the companies that the matching service present to you. It just makes the search process for joint venture partners that little bit easier!
Of course, there are many resources available, both in the online world and offline world, to help you succeed. Some are free, others are not. Out of the free resources that are at the disposal of business start-ups one of the most potent - yet frequently overlooked - are joint ventures.
Joint Ventures
Joint ventures are the key to business success. You can start with nothing and create a multi-million dollar business solely through the creation of business collaborations from which you can profit. All it takes is a little determination and the right approach…but what is the right approach?
The answer to that is simple: Look for companies that have a natural powerful synergy with yours!
Say you are starting up an online travel agency. You have the web site and you have the vacation deals, but how are you going to reach your target customers? The key is to look for other businesses in the travel industry whose customers could benefit from your product. By doing so you'll gain instant access to primed customers for no money down!
Airlines for instance will have a database of clients who travel. In exchange for offering say a discounted vacation package to airline customers, where the airline shares in the profits made from a sale of a vacation package to their customers, you could gain a customer database of several thousand people overnight! Similar joint ventures could be forged with car hire firms, hotels and even other travel web sites. The possibilities are endless!
Finding joint venture partners
Joint venture partners are easily found by registering your company details with a joint venture matching service like www.jvbase.com . These types of companies specialize in finding joint venture partners who have that natural powerful synergy. Of course, your business is not legally bound in any way to the companies that the matching service present to you. It just makes the search process for joint venture partners that little bit easier!
Instant Unsecured Cash Loans - Tips
Instant Unsecured
Cash Loans - Tips
Unsecured cash loans are taken when the borrower does not have a property to secure the debt. These loans usually have higher interest rates and are considered high-risk loans by lenders. Today with various funding organizations, banks and financial institutions entering a competitive business scenario, obtaining unsecured cash loans has become an easy and quick process.
Here are a few tips to help you obtain a quick unsecured cash loan:
Purpose of loan
You may opt for these loans for any purpose like paying off existing debt, purchases like a new car, weddings, holiday expenses etc. The amount you plan to borrow is also an important factor and so is the time in which you plan to return the amount. This would help determine the interest rates.
Searching for a loan
The next step involves searching various organizations that offer such loans. Searching on the Internet may be a good option because here the process is much faster. Some lenders will revert to you the very same day and you will know whether your application has been approved or not. Other lenders may even promise to make an instant decision in a matter of seconds.
Applying for a loan
You may need to fill an online enquiry form, specifying details like the purpose of the loan, amount required, credit history and other details. Applying for this loan is very simple. Also as you are not securing the loan against an asset, you need not fill out long complicated forms. Once your application has been approved, money is usually transferred to your account quickly and efficiently, often in a matter of 24 hours.
Issues to keep in mind
Today there are various banks and financial institutions that offer unsecured cash loans. But while opting for a fast unsecured cash loan keep in mind not to compromise on repayment terms, penalties and interest rates. Also find out whether the interest is charged daily and if capital repayments will bring down the amount of interest and period of loan. If you feel that you may face any financial difficulty and may not be able to repay the loan on time contact your lender immediately. This will protect you from court proceedings and the lender may even agree to freeze your payments for some time.
We at www.anycredithistory.com are here just to help you with an unsecured cash loan whatever your credit record is. Our processing is quick and simple and the money is transferred to your account in the shortest possible time
Cash Loans - Tips
Unsecured cash loans are taken when the borrower does not have a property to secure the debt. These loans usually have higher interest rates and are considered high-risk loans by lenders. Today with various funding organizations, banks and financial institutions entering a competitive business scenario, obtaining unsecured cash loans has become an easy and quick process.
Here are a few tips to help you obtain a quick unsecured cash loan:
Purpose of loan
You may opt for these loans for any purpose like paying off existing debt, purchases like a new car, weddings, holiday expenses etc. The amount you plan to borrow is also an important factor and so is the time in which you plan to return the amount. This would help determine the interest rates.
Searching for a loan
The next step involves searching various organizations that offer such loans. Searching on the Internet may be a good option because here the process is much faster. Some lenders will revert to you the very same day and you will know whether your application has been approved or not. Other lenders may even promise to make an instant decision in a matter of seconds.
Applying for a loan
You may need to fill an online enquiry form, specifying details like the purpose of the loan, amount required, credit history and other details. Applying for this loan is very simple. Also as you are not securing the loan against an asset, you need not fill out long complicated forms. Once your application has been approved, money is usually transferred to your account quickly and efficiently, often in a matter of 24 hours.
Issues to keep in mind
Today there are various banks and financial institutions that offer unsecured cash loans. But while opting for a fast unsecured cash loan keep in mind not to compromise on repayment terms, penalties and interest rates. Also find out whether the interest is charged daily and if capital repayments will bring down the amount of interest and period of loan. If you feel that you may face any financial difficulty and may not be able to repay the loan on time contact your lender immediately. This will protect you from court proceedings and the lender may even agree to freeze your payments for some time.
We at www.anycredithistory.com are here just to help you with an unsecured cash loan whatever your credit record is. Our processing is quick and simple and the money is transferred to your account in the shortest possible time
Importance Of Technology Changes In Business Computing
The importance of keeping up with changes in business computing and technology can be more important over time as your business grows. As and an IT professional far too often I have seen many small businesses get way too far behind in computing technology and wonder why they should pay for the upgrades. Usually I have to explain to them the hard way that the current computers system that are over 4 years old are not going to perform the requested task very well and are not supported by software. Usually do to combination of software changes and incompatibility with older software and hardware platforms that cause issues. I explain that it actually will cost them more money in the long run to try and maintain there existing computer equipment then buy a new replacement.
Most small businesses fail to recognize that keep computer equipment very long periods actually can cost them more money to maintain those systems then the price of a replacement. One cost is the amount if money you pay out for replacement parts when there is no warranty on the old device. If the computer, server or printer is made by a specific manufacture then there is a good chance that you will have to go back to them for certain parts which can be very costly. Another problem is that they actually don’t make replacement parts for broke unit, this is a worse case issue I have seen although sometimes you might find a vendor that makes similar parts and hopefully it fits properly and works properly but not always.
Another disadvantage is if your business is operating on older slower computer equipment that takes a long process customer request and this might open the door for your competition to take your clients away from you but offering better service. If your competition is reinvesting in there business computing and technology changes then most likely they will have the ability to complete products and request faster and at a cheaper rate. The advance technology will cost you money upfront but if the proper equipment is purchased and utilized in office it can add to your over all business.
Some of benefits can include lower power requirements for the devices, more storage capacity for computer files, improved CPU along with memory speeding up processes run on the computer, faster and higher quality documents from new printers. Less down time and less delays in completion of customer request. These are just a few of the benefits of keeping up with technology in your business.
I know that some of you are say that this is easier said then done and in some cases that is very true depending on your current business. But as a small business or home office you should plan for these events after all that is what large companies do and you should follow the same lead. Your business should have at least a basic IT business computing plan that has budget plan and cycling out of computer and office equipment. By having budget and plan in place it should not impact your business finance as much since you set planed ahead. The IT business computer plan should have some flexibility after all you don’t want to do a complete equipment change in the middle of a big job or shutdown your business at the wrong time. And if your business in booming and you don’t have them time then hiring a temp IT professional to help with computing change which might not be a bad idea.
Investing in the proper technology is the key to success it does not matter if you have established small business, home office or if you’re a new startup business. Remember that your business most likely will change over time along with the clients you are serving so your computing equipment should also.
In conclusion business computing when done right can truly add to your business by adding to productivity and efficiency of the day to day operations and can help you take on more clients and over all help you build your business.
Hopefully this article has been informative and helpful to you. If you’re looking for more Business computing information and solutions then be sure to check our website listed below.
Most small businesses fail to recognize that keep computer equipment very long periods actually can cost them more money to maintain those systems then the price of a replacement. One cost is the amount if money you pay out for replacement parts when there is no warranty on the old device. If the computer, server or printer is made by a specific manufacture then there is a good chance that you will have to go back to them for certain parts which can be very costly. Another problem is that they actually don’t make replacement parts for broke unit, this is a worse case issue I have seen although sometimes you might find a vendor that makes similar parts and hopefully it fits properly and works properly but not always.
Another disadvantage is if your business is operating on older slower computer equipment that takes a long process customer request and this might open the door for your competition to take your clients away from you but offering better service. If your competition is reinvesting in there business computing and technology changes then most likely they will have the ability to complete products and request faster and at a cheaper rate. The advance technology will cost you money upfront but if the proper equipment is purchased and utilized in office it can add to your over all business.
Some of benefits can include lower power requirements for the devices, more storage capacity for computer files, improved CPU along with memory speeding up processes run on the computer, faster and higher quality documents from new printers. Less down time and less delays in completion of customer request. These are just a few of the benefits of keeping up with technology in your business.
I know that some of you are say that this is easier said then done and in some cases that is very true depending on your current business. But as a small business or home office you should plan for these events after all that is what large companies do and you should follow the same lead. Your business should have at least a basic IT business computing plan that has budget plan and cycling out of computer and office equipment. By having budget and plan in place it should not impact your business finance as much since you set planed ahead. The IT business computer plan should have some flexibility after all you don’t want to do a complete equipment change in the middle of a big job or shutdown your business at the wrong time. And if your business in booming and you don’t have them time then hiring a temp IT professional to help with computing change which might not be a bad idea.
Investing in the proper technology is the key to success it does not matter if you have established small business, home office or if you’re a new startup business. Remember that your business most likely will change over time along with the clients you are serving so your computing equipment should also.
In conclusion business computing when done right can truly add to your business by adding to productivity and efficiency of the day to day operations and can help you take on more clients and over all help you build your business.
Hopefully this article has been informative and helpful to you. If you’re looking for more Business computing information and solutions then be sure to check our website listed below.
How to offer 30 day terms the right way.
What is trade credit?
One of the major differences between consumer and commercial transactions is that most, if not all, consumer transactions are paid in cash or by credit card at the time of sale. Because of this, most consumer businesses never have to worry about extending credit to a customer and can run their operations on an "all cash" basis. This allows them to focus on their core competencies because they don't have to carry slow paying Accounts Receivables and go through the expense of collecting on such accounts.
However, commercial transactions are different. Most clients ask their suppliers to deliver services immediately and then to invoice them for the work, payable 30 days later (also known as offering net-30). In effect, clients ask their suppliers provide them with "trade credit" for 30 days. Although suppliers don't like offering trade credit, most have accepted it as an industry standard and have learned how to operate and live with it. In fact, some suppliers have even mastered how to offer trade credit and use it to better position their companies with leading clients. Large creditworthy customers, such as the government or large companies, will usually demand trade credit as part of their contract negotiations. Some examples of entities that ask for 30 to 60 day payment terms are:
o Fortune 500 companies
o Large and medium sized companies
o State government agencies
o Federal government agencies
On the positive side, providing trade credit to the proper clients can be a tool that allows your company to win important contracts and position it for growth. However, providing credit is also risky and can erode the company's cash position if it is misused. Furthermore, offering trade credit to less-than-creditworthy clients can burden the company with bad debt and affect its growth prospects. Because of this, business owners must walk a fine line balancing their desires to grow their businesses with the necessities of offering credit to their customers.
Keys to providing trade credit successfully
The best way to minimize the risk of providing trade credit to a client is to perform a credit analysis on him. Although no credit analysis is 100% perfect, they allow business owners to make an informed decision on whom to issue credit to. Here are the three key points to making a credit analysis.
o Have the customer fill out a credit application
Have all your customers that want credit fill out a simple credit application. This will allow you to have all relevant facts in a single document. The application should ask for the following information:
1. Company structure
2. Banking relationships
3. Commercial references
4. Supplier references
o Check bank and supplier references
In their credit applications most clients will only list banking and commercial relationships that will position them in a favorable light - however - it is always a good idea to check on all of them anyway. Banks will only be able to confirm that the client has an account with them. Supplier references, however, may provide critical information regarding the clients' payment habits.
o Check commercial credit reports
There are a number of companies that sell commercial credit reports on businesses. As opposed to consumer credit reports that require special permissions, commercial credit reports can be obtained for any business without asking for prior permission. Reports vary in their level of detail and accuracy and can be obtained for as little as a few dollars. However, all reports will include important information to help your credit department make a decision. More detailed reports will cost a few hundred dollars. You can obtain credit reports from the following companies:
a) Dun & Bradstreet (www.dnb.com)
b) Experian (www.experian.com)
c) Credit.net (www.credit.net)
Doing a credit analysis on your clients will allow you to determine how much - if any - trade credit you can give them. Clients that do not have a favorable credit analysis should be placed on a COD (Cash On Delivery) basis, at least initially, to reduce the risk of non-payments.
The challenges of offering trade credit
One of the main drawbacks of providing trade credit is that it can create a cash flow problem for the company that offers it. Large suppliers with adequate cash cushions in the bank can easily afford to offer credit. However, small suppliers with lean bank accounts usually find that offering credit will drain their cash resources and create financial challenges. It is not uncommon for small businesses to find themselves with a cash flow gap after offering trade credit to their larger clients. This gap is created by the fact that the company's Accounts Receivable account is strong while the company's bank accounts and cash position are weak. The cash flow gap places the business at risk of missing payroll and debt payments. It also prevents it from pursuing new opportunities because they don't have the funds to buy resources or hire the necessary staff.
Bridging the "cash flow" gap
The biggest asset that most new businesses have, aside from their equipment and intangibles (e.g. employees), is their unpaid invoices or Accounts Receivable. Accounts Receivable is an asset that can be quickly converted into cash by using a financial tool called factoring. Factoring allows a business to sell the financial rights to their Accounts Receivable to a third party, called a Factor. As part of the sale, the factor immediately advances a large portion of the cash value of the unpaid invoices to the business. The business can then use this cash infusion to strengthen its cash position and meet its obligations. In the meantime, the factor, which now owns the invoices, waits to get paid by the customer. Factoring enables business owners to outsource their trade credit function to the factor and to turn their companies into the equivalent of an "all cash" business. If you want to learn more about factoring and how it can be used to grow your business, please read our white paper titled "Factoring: Cash on Demand for your business without debt or loans"
One of the major differences between consumer and commercial transactions is that most, if not all, consumer transactions are paid in cash or by credit card at the time of sale. Because of this, most consumer businesses never have to worry about extending credit to a customer and can run their operations on an "all cash" basis. This allows them to focus on their core competencies because they don't have to carry slow paying Accounts Receivables and go through the expense of collecting on such accounts.
However, commercial transactions are different. Most clients ask their suppliers to deliver services immediately and then to invoice them for the work, payable 30 days later (also known as offering net-30). In effect, clients ask their suppliers provide them with "trade credit" for 30 days. Although suppliers don't like offering trade credit, most have accepted it as an industry standard and have learned how to operate and live with it. In fact, some suppliers have even mastered how to offer trade credit and use it to better position their companies with leading clients. Large creditworthy customers, such as the government or large companies, will usually demand trade credit as part of their contract negotiations. Some examples of entities that ask for 30 to 60 day payment terms are:
o Fortune 500 companies
o Large and medium sized companies
o State government agencies
o Federal government agencies
On the positive side, providing trade credit to the proper clients can be a tool that allows your company to win important contracts and position it for growth. However, providing credit is also risky and can erode the company's cash position if it is misused. Furthermore, offering trade credit to less-than-creditworthy clients can burden the company with bad debt and affect its growth prospects. Because of this, business owners must walk a fine line balancing their desires to grow their businesses with the necessities of offering credit to their customers.
Keys to providing trade credit successfully
The best way to minimize the risk of providing trade credit to a client is to perform a credit analysis on him. Although no credit analysis is 100% perfect, they allow business owners to make an informed decision on whom to issue credit to. Here are the three key points to making a credit analysis.
o Have the customer fill out a credit application
Have all your customers that want credit fill out a simple credit application. This will allow you to have all relevant facts in a single document. The application should ask for the following information:
1. Company structure
2. Banking relationships
3. Commercial references
4. Supplier references
o Check bank and supplier references
In their credit applications most clients will only list banking and commercial relationships that will position them in a favorable light - however - it is always a good idea to check on all of them anyway. Banks will only be able to confirm that the client has an account with them. Supplier references, however, may provide critical information regarding the clients' payment habits.
o Check commercial credit reports
There are a number of companies that sell commercial credit reports on businesses. As opposed to consumer credit reports that require special permissions, commercial credit reports can be obtained for any business without asking for prior permission. Reports vary in their level of detail and accuracy and can be obtained for as little as a few dollars. However, all reports will include important information to help your credit department make a decision. More detailed reports will cost a few hundred dollars. You can obtain credit reports from the following companies:
a) Dun & Bradstreet (www.dnb.com)
b) Experian (www.experian.com)
c) Credit.net (www.credit.net)
Doing a credit analysis on your clients will allow you to determine how much - if any - trade credit you can give them. Clients that do not have a favorable credit analysis should be placed on a COD (Cash On Delivery) basis, at least initially, to reduce the risk of non-payments.
The challenges of offering trade credit
One of the main drawbacks of providing trade credit is that it can create a cash flow problem for the company that offers it. Large suppliers with adequate cash cushions in the bank can easily afford to offer credit. However, small suppliers with lean bank accounts usually find that offering credit will drain their cash resources and create financial challenges. It is not uncommon for small businesses to find themselves with a cash flow gap after offering trade credit to their larger clients. This gap is created by the fact that the company's Accounts Receivable account is strong while the company's bank accounts and cash position are weak. The cash flow gap places the business at risk of missing payroll and debt payments. It also prevents it from pursuing new opportunities because they don't have the funds to buy resources or hire the necessary staff.
Bridging the "cash flow" gap
The biggest asset that most new businesses have, aside from their equipment and intangibles (e.g. employees), is their unpaid invoices or Accounts Receivable. Accounts Receivable is an asset that can be quickly converted into cash by using a financial tool called factoring. Factoring allows a business to sell the financial rights to their Accounts Receivable to a third party, called a Factor. As part of the sale, the factor immediately advances a large portion of the cash value of the unpaid invoices to the business. The business can then use this cash infusion to strengthen its cash position and meet its obligations. In the meantime, the factor, which now owns the invoices, waits to get paid by the customer. Factoring enables business owners to outsource their trade credit function to the factor and to turn their companies into the equivalent of an "all cash" business. If you want to learn more about factoring and how it can be used to grow your business, please read our white paper titled "Factoring: Cash on Demand for your business without debt or loans"
How to Become a Motivational Speaker
Quite simply, the only way to become a motivational speaker is to train with someone. To begin with you have to decide what market you want to target. You must choose from a field that includes but is not limited to finance, real estate, investing, religion, teen speakers, sales techniques and many more subjects of interest to companies and groups of people around the globe.
Pick your area of expertise or at least the subject you would like to speak to others about. Then seek out and pursue the best motivational speakers in that arena. Go and hear what they have to say and how they go about getting their message across. Are they keynote speakers or just the warm up guys beforehand? You won’t start out as a keynote speaker until you have some sort of following, some type of record behind you. But if you are gifted and you study and work heard, learn the basics, you have a chance to go to the top as quickly as anybody else does.
Leading motivational speakers often offer classes as well as books and other teaching aides to create new motivational speakers. This may sound strange. Why would a person at the top of his profession offer instruction on how to be a competitor? For the simple reason that the more people who are out there in the world, speaking about his teaching methods and using his motivational speaker training techniques, the more you work the more in demand he will become as a keynote speaker. You have to start somewhere and taking your training as a student of the guys at the top is the quickest way to get yourself hired to speak at someone’s convention.
When a simple seminar or evening of lectures is not enough to achieve desired results, some companies hire extreme motivational speakers to come in and deliver a heavier blow. These people concentrate on one thing and one thing only – making businesses more profitable from the minute the speaker is done speaking. Like all motivational speakers, the extreme speakers also offer extreme motivational speaker training designed to make you one of the foot soldiers who can go out and espouse his methods of generating more sales, or collecting those receivables, or capturing a bigger market share or whatever his particular slant is, to a number of businesses. The market is almost limitless for extreme motivational speakers, the more the merrier, and a good student always help to make a teacher look even better.
Pick your area of expertise or at least the subject you would like to speak to others about. Then seek out and pursue the best motivational speakers in that arena. Go and hear what they have to say and how they go about getting their message across. Are they keynote speakers or just the warm up guys beforehand? You won’t start out as a keynote speaker until you have some sort of following, some type of record behind you. But if you are gifted and you study and work heard, learn the basics, you have a chance to go to the top as quickly as anybody else does.
Leading motivational speakers often offer classes as well as books and other teaching aides to create new motivational speakers. This may sound strange. Why would a person at the top of his profession offer instruction on how to be a competitor? For the simple reason that the more people who are out there in the world, speaking about his teaching methods and using his motivational speaker training techniques, the more you work the more in demand he will become as a keynote speaker. You have to start somewhere and taking your training as a student of the guys at the top is the quickest way to get yourself hired to speak at someone’s convention.
When a simple seminar or evening of lectures is not enough to achieve desired results, some companies hire extreme motivational speakers to come in and deliver a heavier blow. These people concentrate on one thing and one thing only – making businesses more profitable from the minute the speaker is done speaking. Like all motivational speakers, the extreme speakers also offer extreme motivational speaker training designed to make you one of the foot soldiers who can go out and espouse his methods of generating more sales, or collecting those receivables, or capturing a bigger market share or whatever his particular slant is, to a number of businesses. The market is almost limitless for extreme motivational speakers, the more the merrier, and a good student always help to make a teacher look even better.
Getting a Small Business Loan
Are you in need of financial resources in order to start or even maintain your small business? Most of us are. The fist step is to take a look at the vast number of commercial loan sources that offer help in this area such as Chase, Citibank, etc. Also, with the Small Business Administration (SBA), you should be able to arrange a connection with one of these banks. This is one of many organizations that specialize in loans to small businesses.
Contrary to the belief that bankers actually look for reasons to turn down prospective clients in need of a loan, they are in the business to lend money. This means that every time a banker is sitting in front of a potential client, they are hoping to make the deal work just as much, if not more than the client wants it to work.
A bank’s primary role in the small business lending area is funding growth. An example of this would be to finance the expansion of small business with a proven track record. Most banks can offer a wide variety of loan packages designed to finance expansion of an already existing small business.
Below are a few examples bank loan packages :
1. Asset Based Financing. Asset Based Financing is a general term describing a transaction whereby a lender accepts collateral and assets of a company in exchange for a loan. Most asset based loans are collateral against other accounts receivable, inventory, or equipment. Accounts receivable is the most favored of the three because it can be converted into cash quickly. Banks will only advance funds on a percentage of receivable or inventory, typically being around 75% of the receivable and 50% inventory.
2. Line of Credit. A line of credit involves the bank’s setting aside designated funds for the business to draw against for the cash it needs. As the line of credit is used, the credit line is reduced and when payments are made the line is replenished. One major advantage of a line of credit is that no interest is accrued unless the funds are actually used.
3. Floor Planning. Floor Planning is another form of asset based lending in which the borrower’s inventory is used as collateral for the loan. Car dealerships are a prime example of a business that often uses floor planning as their primary financial tool.
Contrary to the belief that bankers actually look for reasons to turn down prospective clients in need of a loan, they are in the business to lend money. This means that every time a banker is sitting in front of a potential client, they are hoping to make the deal work just as much, if not more than the client wants it to work.
A bank’s primary role in the small business lending area is funding growth. An example of this would be to finance the expansion of small business with a proven track record. Most banks can offer a wide variety of loan packages designed to finance expansion of an already existing small business.
Below are a few examples bank loan packages :
1. Asset Based Financing. Asset Based Financing is a general term describing a transaction whereby a lender accepts collateral and assets of a company in exchange for a loan. Most asset based loans are collateral against other accounts receivable, inventory, or equipment. Accounts receivable is the most favored of the three because it can be converted into cash quickly. Banks will only advance funds on a percentage of receivable or inventory, typically being around 75% of the receivable and 50% inventory.
2. Line of Credit. A line of credit involves the bank’s setting aside designated funds for the business to draw against for the cash it needs. As the line of credit is used, the credit line is reduced and when payments are made the line is replenished. One major advantage of a line of credit is that no interest is accrued unless the funds are actually used.
3. Floor Planning. Floor Planning is another form of asset based lending in which the borrower’s inventory is used as collateral for the loan. Car dealerships are a prime example of a business that often uses floor planning as their primary financial tool.
Free Legal Advice
Legal Claim UK is a nationwide network of solicitors offering free legal advice on accident compensation claims. All of our solicitors are members of the specialist Law Society panel of personal injury experts and operate the no win no fee scheme. Compensation is paid in full and there is no need to fund or finance the claim as it proceeds. Win or lose their is no charge whatsoever and all claims are completely risk free. If you would like to speak to an expert with no obligation just complete and send the contact form and a specialist solicitor will phone you as soon as possible.
RESOURCES
The Law Society of England and Wales offers information for the general public on the law of England and Wales. The Law Society is the solicitors professional body and maintains a list of all practising solicitors. The Law Society is the regulatory and representative body for 116,000 solicitors and regulates and sets standards for solicitors to make sure they deliver a good and ethical service and achieve the standards expected of them in order deliver good service.
UK Law Centres provide free legal advice and assistance together with a comprehensive list of links to other legal advice organisations websites. The Law Centres Federation aims to improve access to justice and promotes good Law Centre practice and innovation in the delivery of high quality legal services to the community.
The Law Society of Scotland offers information for the general public on Scots Law and maintains a directory of all legal firms in Scotland. The Law Society of Scotland is the governing body for Scottish solicitors which promotes the interests of the Solicitors profession in Scotland and the interests of the public in relation to the profession. All practising solicitors in Scotland must be members of the Society and must hold a current Practising Certificate which is issued by the Society.
The Law Society of Northern Ireland offers information for the general public on the law in Northern Ireland and maintains a directory of the 6,000 practising solicitors. The Law Society is the educational, representative and regulatory body of the solicitors' profession in Ireland and works to improve access to the law generally and also provides representation, services and support for solicitors. The Society deals with complaints and administers a statutory compensation fund.
Advicenow promotes an A to Z of resources relating to legal information and also provides links to over 160 other legal information websites. Advicenow is an independent, not-for-profit website providing accurate, up-to-date information on rights and legal issues and is part of the Advice Services Alliance which is the coordinating body for independent advice services in the United Kingdom including adviceUK; Citizens Advice; DIAL UK; Law Centres; Shelter and Youth Access.
Community Legal Service Direct (CLS Direct) is an organisation providing free legal information. CLS Legal Information Leaflets, produced by the Consumer Association can be downloaded and printed from the site. Community Legal S ervice ensures that people can get information and advice about their legal rights and brings together legal aid solicitors, Citizens' Advice Bureaux, Law Centres, local authority services and other organisations in local networks. More than 200 CLS Partnerships exist across England and Wales and include representatives of the Legal Services Commission, local authorities, Government departments and statutory organisations, charities and legal service providers.
Your Rights is the website of Liberty the Human Rights organisation. Liberty's online guide provides comprehensive information on rights and freedoms including the effect of the European Convention of Human Rights under the Human Rights Act 1998. Liberty is an independent human rights organisation which is not overseen or regulated by a representative or umbrella body.
Citizens Advice Bureau can be found in almost all cities and towns and provides extensive free legal advice and information on a wide range of legal issues at no charge to their customers. Many specialist solicitors give their time free to man the advice sessions. The CAB website provides people with round-the-clock access to information on their rights including benefits, housing and employment, and on debt, consumer and legal issues and aims to empower people by providing them with relevant legal information
Ombudsmen is a website that provides information on all of the ombudsmen available in the UK to assist individuals who believe they have received an injustice from a public body or private sector service. Ombudsmen do not consider a complaint unless the organisation concerned has been given a reasonable opportunity to rectify the problem. The ombudsman does not charge a fee for his work. If the ombudsman decides to act he will set out proposals for resolving the dispute and will expect provision of a suitable remedy by the offending organization.
RESOURCES
The Law Society of England and Wales offers information for the general public on the law of England and Wales. The Law Society is the solicitors professional body and maintains a list of all practising solicitors. The Law Society is the regulatory and representative body for 116,000 solicitors and regulates and sets standards for solicitors to make sure they deliver a good and ethical service and achieve the standards expected of them in order deliver good service.
UK Law Centres provide free legal advice and assistance together with a comprehensive list of links to other legal advice organisations websites. The Law Centres Federation aims to improve access to justice and promotes good Law Centre practice and innovation in the delivery of high quality legal services to the community.
The Law Society of Scotland offers information for the general public on Scots Law and maintains a directory of all legal firms in Scotland. The Law Society of Scotland is the governing body for Scottish solicitors which promotes the interests of the Solicitors profession in Scotland and the interests of the public in relation to the profession. All practising solicitors in Scotland must be members of the Society and must hold a current Practising Certificate which is issued by the Society.
The Law Society of Northern Ireland offers information for the general public on the law in Northern Ireland and maintains a directory of the 6,000 practising solicitors. The Law Society is the educational, representative and regulatory body of the solicitors' profession in Ireland and works to improve access to the law generally and also provides representation, services and support for solicitors. The Society deals with complaints and administers a statutory compensation fund.
Advicenow promotes an A to Z of resources relating to legal information and also provides links to over 160 other legal information websites. Advicenow is an independent, not-for-profit website providing accurate, up-to-date information on rights and legal issues and is part of the Advice Services Alliance which is the coordinating body for independent advice services in the United Kingdom including adviceUK; Citizens Advice; DIAL UK; Law Centres; Shelter and Youth Access.
Community Legal Service Direct (CLS Direct) is an organisation providing free legal information. CLS Legal Information Leaflets, produced by the Consumer Association can be downloaded and printed from the site. Community Legal S ervice ensures that people can get information and advice about their legal rights and brings together legal aid solicitors, Citizens' Advice Bureaux, Law Centres, local authority services and other organisations in local networks. More than 200 CLS Partnerships exist across England and Wales and include representatives of the Legal Services Commission, local authorities, Government departments and statutory organisations, charities and legal service providers.
Your Rights is the website of Liberty the Human Rights organisation. Liberty's online guide provides comprehensive information on rights and freedoms including the effect of the European Convention of Human Rights under the Human Rights Act 1998. Liberty is an independent human rights organisation which is not overseen or regulated by a representative or umbrella body.
Citizens Advice Bureau can be found in almost all cities and towns and provides extensive free legal advice and information on a wide range of legal issues at no charge to their customers. Many specialist solicitors give their time free to man the advice sessions. The CAB website provides people with round-the-clock access to information on their rights including benefits, housing and employment, and on debt, consumer and legal issues and aims to empower people by providing them with relevant legal information
Ombudsmen is a website that provides information on all of the ombudsmen available in the UK to assist individuals who believe they have received an injustice from a public body or private sector service. Ombudsmen do not consider a complaint unless the organisation concerned has been given a reasonable opportunity to rectify the problem. The ombudsman does not charge a fee for his work. If the ombudsman decides to act he will set out proposals for resolving the dispute and will expect provision of a suitable remedy by the offending organization.
Forex And Daytrading
Online trading is great way for serious investors to make money, but inexperienced traders often wind up with big losses. A good set of instructions can minimize the risks and save months of expensive trial-and-error learning.
Day Trading
Day Trading had its heyday during the bull market of the 1990's. All the amateurs have since dropped out, but day trading is still being practiced by professionals. There are fewer opportunities in the current market, but skilled investors can still find them if they know what to look for.
FOREX Trading
The Foreign Exchange Market (FOREX), the world's largest financial exchange market, originated in 1973. It has a daily turnover of currency worth more than $1.2 trillion dollars.
Unlike many other securities, FOREX does not trade on a fixed exchange rate; instead, currencies are traded primarily between central banks, commercial banks, various non-banking international corporations, hedge funds, personal investors and not to forget, speculators. Previously, smaller investors were excluded from FOREX due to the huge amount of deposit involved. This was changed in 1995, and now smaller investors can trade alongside the multi-nationals. As a result, the number of traders within the FOREX market has grown rapidly, and many FOREX courses are appearing to help individual traders increase their skills.
As a matter of fact, it's advisable to take FOREX training even before opening a trading account.
It is vital to know the market mechanics of FOREX, leveraging in FOREX, rollovers and the analysis of the FOREX market. Due to this fact, potential FOREX traders would do well to either enroll in a FOREX training courses or even purchase some books regarding FOREX trading.
There are pros and cons to enrolling into a FOREX course. For beginners a FOREX course is a rapid method of learning the basics of FOREX trading. Not much time is spent on history of the market or arcane economic theories. Often, on-line or phone support from a skilled FOREX trader is available to answer any questions. Also, the information is condensed and practical, often with graphs and charts.
The disadvantage is the price, as courses are more expensive than a paperback from the bookstore. Also,
the course may just teach the approach of the trader who wrote it, and individuals have different trading strategies. The student may grow accustomed to the logic and focus of the teacher without coming to realise that nothing is predictable in the FOREX market, and many different strategies will bring profits in varying market circumstances. Also, knowledge of practical applications may not be enough, as the FOREX is highly unpredictable and there are many external factors, such as political issues, affecting the flow of finances in the market.
The best advice would be to do some background research on the FOREX market first, and then enroll in a course.
Day Trading
Day Trading had its heyday during the bull market of the 1990's. All the amateurs have since dropped out, but day trading is still being practiced by professionals. There are fewer opportunities in the current market, but skilled investors can still find them if they know what to look for.
FOREX Trading
The Foreign Exchange Market (FOREX), the world's largest financial exchange market, originated in 1973. It has a daily turnover of currency worth more than $1.2 trillion dollars.
Unlike many other securities, FOREX does not trade on a fixed exchange rate; instead, currencies are traded primarily between central banks, commercial banks, various non-banking international corporations, hedge funds, personal investors and not to forget, speculators. Previously, smaller investors were excluded from FOREX due to the huge amount of deposit involved. This was changed in 1995, and now smaller investors can trade alongside the multi-nationals. As a result, the number of traders within the FOREX market has grown rapidly, and many FOREX courses are appearing to help individual traders increase their skills.
As a matter of fact, it's advisable to take FOREX training even before opening a trading account.
It is vital to know the market mechanics of FOREX, leveraging in FOREX, rollovers and the analysis of the FOREX market. Due to this fact, potential FOREX traders would do well to either enroll in a FOREX training courses or even purchase some books regarding FOREX trading.
There are pros and cons to enrolling into a FOREX course. For beginners a FOREX course is a rapid method of learning the basics of FOREX trading. Not much time is spent on history of the market or arcane economic theories. Often, on-line or phone support from a skilled FOREX trader is available to answer any questions. Also, the information is condensed and practical, often with graphs and charts.
The disadvantage is the price, as courses are more expensive than a paperback from the bookstore. Also,
the course may just teach the approach of the trader who wrote it, and individuals have different trading strategies. The student may grow accustomed to the logic and focus of the teacher without coming to realise that nothing is predictable in the FOREX market, and many different strategies will bring profits in varying market circumstances. Also, knowledge of practical applications may not be enough, as the FOREX is highly unpredictable and there are many external factors, such as political issues, affecting the flow of finances in the market.
The best advice would be to do some background research on the FOREX market first, and then enroll in a course.
Flipping Houses for Gold: How to Find the Perfect Fixer
Many real estate investors enjoy "flipping houses," or buying and selling houses quickly for profit. Not all flips are fixers. However, rehabbers make millions turning ugly houses into dollhouses. On the other hand, some inexperienced investors lose money buying houses that just don't turn a profit.
If you're looking to get started investing in real estate by fixing and flipping houses, you'll want to know what type of property to buy.
HOW TO FIND THE PERFECT FIXER
1. Know Your Market
Your first task, exploring your market, helps you know a bargain house when you spot one. Look at many houses for sale in your area. Keep track of sales and how long the houses take to sell. Ask selling real estate agents about the terms of these sales because this helps you understand how sellers market their property (some of this information is public record). For instance, if a seller paid closing costs for the buyer, did the price rise from the listed price accordingly? Or, did the seller come down on the price and also pay the buyer's costs?
Examine the sales that sell quickly. What home features and financing options prompted the fast sale?
Also, look at model homes. Buyers often buy resale homes because they can't wait for a new home to be finished. However, these buyers like the distinctive features new homes offer. Visit model homes and take notes on how details like a water fountain or a new state-of-the-art appliance makes a house sell itself. When you remodel your fixer, you'll know what attracts buyers and you'll make smart redesign choices.
2. Know When "Ugly" Means "Gold"
When you first start out in your real estate "flipping fixers" business, you'll want to look for houses needing only cosmetic work. Look for houses that just need cleaning up, painting, and new flooring. Use your imagination when viewing these homes. Try to visualize the finished dollhouse as you look at structural features and the surrounding homes. Make offers on the ugliest houses in decent neighborhoods.
Don't be afraid of stinky houses that show horribly. Search for fixers with peeling paint, holes in the wall, stained carpeting, and trash in the yard. Remember, these houses won't look good to most buyers, but other real estate investors see them as gold mines.
3. Know When "Ugly" Means "No Thanks"
When you're new to real estate investing, always remember your limitations. Use caution when considering houses that need structural repairs. Some rehabbers replace walls, plumbing, structural beams, sub-flooring, and electrical systems. These experienced real estate investors acquired those skills after years of experience or they have the money to pay for professional help.
If you find a house with structural problems, get estimates from reliable contractors to do the work. If the walls have too many cracks and bumps, you may need to hang new sheet rock or hire a professional plaster refinisher. Check for signs of plumbing problems such as water stains under sinks and loose flooring, and get estimates for professional repair. Take professional estimates into account before deciding whether or not to purchase an investment property. Any big expense decreases your eventual profit.
Turn Yucks into Bucks
Why would anyone want to do this hard work? How much does the average rehabber make? In Ohio, real estate investors buy houses expecting a profit of about $30,000. In Southern California, many investors make $50,000 to $100,000 on each house.
When you find a garbage-filled, flea-infested house in a family neighborhood, take your bug spray, hold your nose, and get ready to make a difference, in the neighborhood and in your bank account.
You can make a fortune fixing nasty houses. Know your market. Know when "ugly" means profit in your pocket, and when to keep looking for the house with the hidden gold mine.
If you're looking to get started investing in real estate by fixing and flipping houses, you'll want to know what type of property to buy.
HOW TO FIND THE PERFECT FIXER
1. Know Your Market
Your first task, exploring your market, helps you know a bargain house when you spot one. Look at many houses for sale in your area. Keep track of sales and how long the houses take to sell. Ask selling real estate agents about the terms of these sales because this helps you understand how sellers market their property (some of this information is public record). For instance, if a seller paid closing costs for the buyer, did the price rise from the listed price accordingly? Or, did the seller come down on the price and also pay the buyer's costs?
Examine the sales that sell quickly. What home features and financing options prompted the fast sale?
Also, look at model homes. Buyers often buy resale homes because they can't wait for a new home to be finished. However, these buyers like the distinctive features new homes offer. Visit model homes and take notes on how details like a water fountain or a new state-of-the-art appliance makes a house sell itself. When you remodel your fixer, you'll know what attracts buyers and you'll make smart redesign choices.
2. Know When "Ugly" Means "Gold"
When you first start out in your real estate "flipping fixers" business, you'll want to look for houses needing only cosmetic work. Look for houses that just need cleaning up, painting, and new flooring. Use your imagination when viewing these homes. Try to visualize the finished dollhouse as you look at structural features and the surrounding homes. Make offers on the ugliest houses in decent neighborhoods.
Don't be afraid of stinky houses that show horribly. Search for fixers with peeling paint, holes in the wall, stained carpeting, and trash in the yard. Remember, these houses won't look good to most buyers, but other real estate investors see them as gold mines.
3. Know When "Ugly" Means "No Thanks"
When you're new to real estate investing, always remember your limitations. Use caution when considering houses that need structural repairs. Some rehabbers replace walls, plumbing, structural beams, sub-flooring, and electrical systems. These experienced real estate investors acquired those skills after years of experience or they have the money to pay for professional help.
If you find a house with structural problems, get estimates from reliable contractors to do the work. If the walls have too many cracks and bumps, you may need to hang new sheet rock or hire a professional plaster refinisher. Check for signs of plumbing problems such as water stains under sinks and loose flooring, and get estimates for professional repair. Take professional estimates into account before deciding whether or not to purchase an investment property. Any big expense decreases your eventual profit.
Turn Yucks into Bucks
Why would anyone want to do this hard work? How much does the average rehabber make? In Ohio, real estate investors buy houses expecting a profit of about $30,000. In Southern California, many investors make $50,000 to $100,000 on each house.
When you find a garbage-filled, flea-infested house in a family neighborhood, take your bug spray, hold your nose, and get ready to make a difference, in the neighborhood and in your bank account.
You can make a fortune fixing nasty houses. Know your market. Know when "ugly" means profit in your pocket, and when to keep looking for the house with the hidden gold mine.
Factoring Financing: How to grow your business without debt or loans
What is factoring?
Accounts receivable financing, also known as factoring, is a powerful financial tool that has fueled the growth and success of a number of companies.
Factoring enables companies to capitalize on their unpaid receivables by selling them to a factoring company for immediate payment. With factoring, companies
immediately get paid for their invoiced work from the factoring finance company, while the factoring company waits to be paid by the customers. Factoring
strengthens a business' cash position by shortening the time to get invoices paid to 48 hours and providing the needed funds to meet current expenses and
target new opportunities.
Factoring Benefits
As opposed to loans and lines of credit that require that the client have tangible assets and strong financials, factoring relies more heavily on the
financial strength of the clients' customer. This is a critical feature,since many new and small businesses do not meet the financial criteria of traditional
lending institutions. However, many small businesses have a roster of financially strong customers that can be leveraged. Factoring empowers businesses to
capitalize on their customer list, and provides them with a tool to transform outstanding receivables into immediate cash, without generating debt. Since
Factoring is not a loan, it is an ideal financial product for the following:
o New and emerging businesses including small and home businesses, consultants and solo-preneurs.
o Businesses with financially strong customers
o Businesses that are preparing to grow significantly
o Business with intangible assets (e.g. consultants)
o Businesses that do not want to take a loan
An additional benefit of factoring is that the factor usually assumes part of the clients' credit risk for the customer. This means that if the customer
becomes financially insolvent due to bankruptcy and does not pay the invoice, the factor will assume the loss. This is a critical service for small companies
who may not be able to afford the bankruptcy of a customer.
Costs
The costs of a factoring transaction - also known as the discount - vary based on a number of variables such as the financial strength of the customer and
the amount being factored. Generally, the discount is a percentage of the invoice's face value that increases with time until the invoice gets paid. Small
businesses, those that have between $20,000 and $300,000 in yearly revenues, can expect to pay a discount rate of about 2% for every ten (10) days that the
invoice remains unpaid. Businesses with factorable revenues in excess of $300,000 can expect lower discount rates.
Factoring at Work: Business Services and Products, Inc. Case Study
Business Services and Products, Inc. (BSP, Inc.) is a small fictional company, which provides business consulting and equipment to local companies. It has
$300,000 of annual revenues and during the past year BSP Inc. has enjoyed significant sales growth. Although most business owners would be very happy to
manage such a company, Jane Sullivan, BSP Inc's president, is very worried about her company's financial position.
Most of BSP Inc.'s customers are large companies with a good reputation for always paying their invoices. However they always take between 30 to 45 days to
pay them. BSP Inc., however, needs to pay their employees every two weeks and their vendors every four weeks. This discrepancy between the time that
customers pay their bills and the time BSP Inc. needs to pay their employees and vendors has created cash flow problems in the past. Furthermore, these cash
flow problems have already caused Jane to delay payroll twice this year and have placed her trade (vendor) credit in jeopardy multiple times. This has also
caused her to pass on a number of significant business opportunities because she was unsure of the company's financial ability to hire and pay for additional
staffers. Unfortunately, BSP Inc. did not have a large enough financial cushion in the bank to afford paying employees while waiting for 45 days new clients
to pay their invoices.
The following table provides an overview of BSP, Inc's current financial position.
Business Services and Products, Inc (without financing)
Yearly sales: $300,000
Lost new sales opportunities: Unknown
Total Sales: $300,000
Variable Costs (60% of Sales): $180,000
Fixed Costs (Rent, phones, etc): $20,000
Total Costs: $200,000
Profit (Sales - Costs): $100,000
Although the company's prospects appear great, Jane may have to stall her company's growth until she builds a large enough cash cushion at the bank to
finance her company's growth. After careful consideration, Jane decided that a factoring line of working capital could help strengthen her company's
financial position. Furthermore, factoring her invoices would enable BSP Inc. to take on new customers and continue growing, knowing that she could
capitalize on her slow paying customers. BSP Inc.'s financing agreement will provide the company with an advance of 70% of her invoiced services. This means
that the company can get 70% of the face value of the factored invoices within 24 to 48 hours of submitting them to the factor. The remaining 30% of the
funds, less the factoring fees, will be quickly rebated as soon as the customer pays their invoice.This line of working capital strengthened the company's
financial position and bank account, enabling Jane to pay for new employees to service new contracts. Jane also decided to use the extra capital to pay her
vendors early, obtaining quick payment discounts and helping to reduce the cost of factoring.
BSP Inc. customers pay their invoices within 30 days of receipt. The discount (factoring fee) for these invoices is 6%. Every time an invoice is paid, the
factor rebates BSP Inc. the remaining 30% that was not advanced less the factoring fee. This means that once the transaction is completed, the factor rebates
24% (30% - 6%) to BSP Inc. Thanks to the factoring line of working capital, Jane was also to secure an additional $120,000 worth of business, bringing her
annual revenues to $420,000.
The following table shows BSP Inc.'s financial position a year after using factoring.
Business Services and Products (with factoring)
Existing Sales: $300,000
New Sales: $120,000 (factored)
Total Sales: $420,000
Variable Costs (60% of Sales): $252,000
Fixed Costs (Rent, phones, etc.): $20,000
Cost of Factoring (6% of $120,000): $7,200
Total Costs: $279,200
Net Profit (Sales - Costs): $140,800
As can be seen from the above table, factoring helped BSP Inc. increase profits substantially from $100,000 to $140,800 - a 40% increase. It placed BSP Inc.
on a more stable financial footing, priming it for growth. Furthermore, the cost impact of factoring on the bottom line was minimal, as it was easily
absorbed by the additional business, showing that factoring was paid for directly by the growth.
Accounts receivable financing, also known as factoring, is a powerful financial tool that has fueled the growth and success of a number of companies.
Factoring enables companies to capitalize on their unpaid receivables by selling them to a factoring company for immediate payment. With factoring, companies
immediately get paid for their invoiced work from the factoring finance company, while the factoring company waits to be paid by the customers. Factoring
strengthens a business' cash position by shortening the time to get invoices paid to 48 hours and providing the needed funds to meet current expenses and
target new opportunities.
Factoring Benefits
As opposed to loans and lines of credit that require that the client have tangible assets and strong financials, factoring relies more heavily on the
financial strength of the clients' customer. This is a critical feature,since many new and small businesses do not meet the financial criteria of traditional
lending institutions. However, many small businesses have a roster of financially strong customers that can be leveraged. Factoring empowers businesses to
capitalize on their customer list, and provides them with a tool to transform outstanding receivables into immediate cash, without generating debt. Since
Factoring is not a loan, it is an ideal financial product for the following:
o New and emerging businesses including small and home businesses, consultants and solo-preneurs.
o Businesses with financially strong customers
o Businesses that are preparing to grow significantly
o Business with intangible assets (e.g. consultants)
o Businesses that do not want to take a loan
An additional benefit of factoring is that the factor usually assumes part of the clients' credit risk for the customer. This means that if the customer
becomes financially insolvent due to bankruptcy and does not pay the invoice, the factor will assume the loss. This is a critical service for small companies
who may not be able to afford the bankruptcy of a customer.
Costs
The costs of a factoring transaction - also known as the discount - vary based on a number of variables such as the financial strength of the customer and
the amount being factored. Generally, the discount is a percentage of the invoice's face value that increases with time until the invoice gets paid. Small
businesses, those that have between $20,000 and $300,000 in yearly revenues, can expect to pay a discount rate of about 2% for every ten (10) days that the
invoice remains unpaid. Businesses with factorable revenues in excess of $300,000 can expect lower discount rates.
Factoring at Work: Business Services and Products, Inc. Case Study
Business Services and Products, Inc. (BSP, Inc.) is a small fictional company, which provides business consulting and equipment to local companies. It has
$300,000 of annual revenues and during the past year BSP Inc. has enjoyed significant sales growth. Although most business owners would be very happy to
manage such a company, Jane Sullivan, BSP Inc's president, is very worried about her company's financial position.
Most of BSP Inc.'s customers are large companies with a good reputation for always paying their invoices. However they always take between 30 to 45 days to
pay them. BSP Inc., however, needs to pay their employees every two weeks and their vendors every four weeks. This discrepancy between the time that
customers pay their bills and the time BSP Inc. needs to pay their employees and vendors has created cash flow problems in the past. Furthermore, these cash
flow problems have already caused Jane to delay payroll twice this year and have placed her trade (vendor) credit in jeopardy multiple times. This has also
caused her to pass on a number of significant business opportunities because she was unsure of the company's financial ability to hire and pay for additional
staffers. Unfortunately, BSP Inc. did not have a large enough financial cushion in the bank to afford paying employees while waiting for 45 days new clients
to pay their invoices.
The following table provides an overview of BSP, Inc's current financial position.
Business Services and Products, Inc (without financing)
Yearly sales: $300,000
Lost new sales opportunities: Unknown
Total Sales: $300,000
Variable Costs (60% of Sales): $180,000
Fixed Costs (Rent, phones, etc): $20,000
Total Costs: $200,000
Profit (Sales - Costs): $100,000
Although the company's prospects appear great, Jane may have to stall her company's growth until she builds a large enough cash cushion at the bank to
finance her company's growth. After careful consideration, Jane decided that a factoring line of working capital could help strengthen her company's
financial position. Furthermore, factoring her invoices would enable BSP Inc. to take on new customers and continue growing, knowing that she could
capitalize on her slow paying customers. BSP Inc.'s financing agreement will provide the company with an advance of 70% of her invoiced services. This means
that the company can get 70% of the face value of the factored invoices within 24 to 48 hours of submitting them to the factor. The remaining 30% of the
funds, less the factoring fees, will be quickly rebated as soon as the customer pays their invoice.This line of working capital strengthened the company's
financial position and bank account, enabling Jane to pay for new employees to service new contracts. Jane also decided to use the extra capital to pay her
vendors early, obtaining quick payment discounts and helping to reduce the cost of factoring.
BSP Inc. customers pay their invoices within 30 days of receipt. The discount (factoring fee) for these invoices is 6%. Every time an invoice is paid, the
factor rebates BSP Inc. the remaining 30% that was not advanced less the factoring fee. This means that once the transaction is completed, the factor rebates
24% (30% - 6%) to BSP Inc. Thanks to the factoring line of working capital, Jane was also to secure an additional $120,000 worth of business, bringing her
annual revenues to $420,000.
The following table shows BSP Inc.'s financial position a year after using factoring.
Business Services and Products (with factoring)
Existing Sales: $300,000
New Sales: $120,000 (factored)
Total Sales: $420,000
Variable Costs (60% of Sales): $252,000
Fixed Costs (Rent, phones, etc.): $20,000
Cost of Factoring (6% of $120,000): $7,200
Total Costs: $279,200
Net Profit (Sales - Costs): $140,800
As can be seen from the above table, factoring helped BSP Inc. increase profits substantially from $100,000 to $140,800 - a 40% increase. It placed BSP Inc.
on a more stable financial footing, priming it for growth. Furthermore, the cost impact of factoring on the bottom line was minimal, as it was easily
absorbed by the additional business, showing that factoring was paid for directly by the growth.
Exploding Six Sigma Myths
Six Sigma doesn't improve the customer experience. It may seem that Six Sigma turns the focus away from the customer because it is driven by data. In so many companies, quality improvement is driven by the latest customer complaint, or some manager's latest issue. This may seem like you are being responsive to the customers, but such an ad hoc and scatter-shot approach is inefficient and ultimately doomed to failure. The question you need to ask is what data is presented to the organization in order to select improvement projects? Without the right data, how can you succeed? Unless the approach is systematic and the solution driven by measurement and analysis, there is little hope for lasting quality improvement.
Six Sigma is oriented toward the solution of problems at their root cause and the prevention of their recurrence, as opposed to attempting to control potential causes of failure on a project-by-project basis. Six Sigma inspired process redesign will change the way a company thinks about how they do their work and deliver their services. So many companies are focused on short-term financial goals. The “show me the money” attitudes of shareholders and the stock market shift focus away from the customer. Six Sigma, on the other hand, is clearly focused on the customer. It accomplishes this because it centers its attention on the end results and long-term cultural change.
Six Sigma is not just about number crunching and finances. All of the numbers are just data used to reach the real goal of Six Sigma: helping increase quality and service for the customer. Companies need to figure out what their customers want and need. One thing any customer of any business in any industry wants is a better experience. Quality and efficiency don't only help the financial bottom line, they help the customer experience.
Companies need to remember that their first and final allegiance should be to the customer. By embracing Six Sigma, a company can achieve greater quality and efficiency in the flow of information and interaction between people, especially interactions with customers. Transforming the process of these flows will yield quality results for the customer experience.
Six Sigma is just another fad. There have been so many quality improvement fads over the years. It is not surprising that people are now a little jaded. The weakness of many of these fads is that they have the superficial appearance that something profound is happening, yet the substance is not there. A whole bunch of numbers and graphs on spreadsheets are not enough to bring about substantial and lasting quality improvement in an organization. The fads sell themselves as cheap and easy quick fixes. The reality is that there are no quick fixes to significant process improvement. Six Sigma understands that.
Six Sigma is neither a fad nor a quick fix. The data and descriptive statistics that Six Sigma mines out of a project are real data and meaningful data. You use data to create actionable goals, analyze and determine the root cause(s) of defects, and then measure the results to shows how those goals were achieved. The data determines the causes of the problems that need improvement and how to eliminate the gap between existing performance and the desired level of performance. Tools are put in place to ensure that the key variables remain within the acceptable ranges over time so that process improvement gains are maintained. The changes brought about through Six Sigma are real, significant, and long-lasting.
Also, Six Sigma is not a simple 1-2-3-you're done process. It is a “way of life.” It is a multi-level, cyclical movement toward continual process improvement. Six Sigma is a time-consuming and high-energy process. Companies develop a long-term plan that outlines the move from current performance levels to Six Sigma performance levels, with tangible, short-term goals in between.
Successful Six Sigma programs are built on a solid organizational foundation. The organizational structure and system needs to be clearly identified and communicated to the entire organization to successfully implement Six Sigma Quality. Becoming a Six Sigma organization doesn't just happen. Planning and training goes into setting up a successful Six Sigma organization. Employee roles and responsibilities must be established and clearly communicated to all.
The more Six Sigma projects your company completes, the more involved you become with more mature and meaningful projects than when you began. Six Sigma becomes part of the core of your business. It isn't a quick knock-off program; it keeps growing and changing as your business needs grow and evolve. The other fads didn't last at your organization, but Six Sigma will.
Six Sigma is oriented toward the solution of problems at their root cause and the prevention of their recurrence, as opposed to attempting to control potential causes of failure on a project-by-project basis. Six Sigma inspired process redesign will change the way a company thinks about how they do their work and deliver their services. So many companies are focused on short-term financial goals. The “show me the money” attitudes of shareholders and the stock market shift focus away from the customer. Six Sigma, on the other hand, is clearly focused on the customer. It accomplishes this because it centers its attention on the end results and long-term cultural change.
Six Sigma is not just about number crunching and finances. All of the numbers are just data used to reach the real goal of Six Sigma: helping increase quality and service for the customer. Companies need to figure out what their customers want and need. One thing any customer of any business in any industry wants is a better experience. Quality and efficiency don't only help the financial bottom line, they help the customer experience.
Companies need to remember that their first and final allegiance should be to the customer. By embracing Six Sigma, a company can achieve greater quality and efficiency in the flow of information and interaction between people, especially interactions with customers. Transforming the process of these flows will yield quality results for the customer experience.
Six Sigma is just another fad. There have been so many quality improvement fads over the years. It is not surprising that people are now a little jaded. The weakness of many of these fads is that they have the superficial appearance that something profound is happening, yet the substance is not there. A whole bunch of numbers and graphs on spreadsheets are not enough to bring about substantial and lasting quality improvement in an organization. The fads sell themselves as cheap and easy quick fixes. The reality is that there are no quick fixes to significant process improvement. Six Sigma understands that.
Six Sigma is neither a fad nor a quick fix. The data and descriptive statistics that Six Sigma mines out of a project are real data and meaningful data. You use data to create actionable goals, analyze and determine the root cause(s) of defects, and then measure the results to shows how those goals were achieved. The data determines the causes of the problems that need improvement and how to eliminate the gap between existing performance and the desired level of performance. Tools are put in place to ensure that the key variables remain within the acceptable ranges over time so that process improvement gains are maintained. The changes brought about through Six Sigma are real, significant, and long-lasting.
Also, Six Sigma is not a simple 1-2-3-you're done process. It is a “way of life.” It is a multi-level, cyclical movement toward continual process improvement. Six Sigma is a time-consuming and high-energy process. Companies develop a long-term plan that outlines the move from current performance levels to Six Sigma performance levels, with tangible, short-term goals in between.
Successful Six Sigma programs are built on a solid organizational foundation. The organizational structure and system needs to be clearly identified and communicated to the entire organization to successfully implement Six Sigma Quality. Becoming a Six Sigma organization doesn't just happen. Planning and training goes into setting up a successful Six Sigma organization. Employee roles and responsibilities must be established and clearly communicated to all.
The more Six Sigma projects your company completes, the more involved you become with more mature and meaningful projects than when you began. Six Sigma becomes part of the core of your business. It isn't a quick knock-off program; it keeps growing and changing as your business needs grow and evolve. The other fads didn't last at your organization, but Six Sigma will.
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