Friday, June 4, 2010
Business Documenting - The must for all companies
Surprisingly many businesses fail to create such an essential item; the reality is that these types of businesses and entrepreneurs who don't create a documented system usually spend lots of time training and supervising employees. Often they forget that the reason an employee or
other person was brought into the business was to help it grow yet spending time on re-training or needing to quality check work constantly is not growing the business and it is a huge waste of time.
The standardized procedures do not need to be extravagant, often times the simpler the better. Get a piece of paper or type up each step involved in performing a specific task or process. Employees, contractors, temps and so on should also be involved in this process. Take the completed
documents, print them up in binders or other media and hand them out to all the people in the organization.
Once the business has been thoroughly documented and the work standards created make sure that they are regularly followed, no exceptions. If there are any problems with a document simply get feedback from the employees, then go back and revise the standards.
Once an area or process has been formally documented begin continuous improvement efforts, go out and look for simple commonsense ways to improve each and every process to become more efficient. Greater efficiency ultimately leads to the business becoming more profitable.
Entity Structuring
Entity structuring is the use of limited partnerships, limited liabilities, and corporations. These can help you accomplish three things:
1. Bullet-proofing your assets so that the bad guys are worse of if they try and take them away from you.
2. Slashing your taxes so that they are within single digits.
3. Protecting your privacy and building lasting wealth.
Let me explain how this works with the following example:
A case study: My friend Patrick grew up with the family business. His family sold expensive boats. His business grew. He was a financially intelligent man so he wanted to add a stream of income. Therefore, he decided to start a Marina, a land storage facility, a parts shop and a show room. I wanted to make sure he was properly protected and that he had bullet-proofed his assets. However, he was too busy making money to focus on it at that time. This was his fatal flaw. One day, I got that dreaded call from Patrick. The sheriff deputy was there to shut down his businesses: the Marina, the parts shop, the storage facility, and the show room. His business was locked down with pad locks in a matter of hours. Within six months, he lost all of his personal assets and filed both personal and corporate bankruptcy. The tragedy here is beyond his loses but the fact that this situation was completely avoidable. You can prevent this from happening to your business by using two power tools:
1. Limited Partnerships: separate legal entities. They separate your personal assets from business investments.
2. Limited Liability: similar to Limited Partnerships as they form a wall between you and the creditors and predators.
These two power tools include a built-in charging order that does not apply to your typical “S” or “C” corporations. A charging order basically states that the “bad guys” can not go after your assets. They will be able to go after income but not after you employ the following strategy. We can set up a separate management company for you. Then, you can shift your money from your LLC or LP into your separate management company. The last step in your protection is called imputing income, and it finalizes the prevention of lawsuits. The IRS can step in and tax these bad guys for the money they are suing for (even when they are unable to collect this money.) This ensures the fact that suing you will not be worth the effort.
In summary: They can not touch your assets because you have protected them. They can not receive the income because you have shifted it out. They are left with heavy taxes imposed by the IRS. Therefore, the likelihood of you being sued is next to nothing.
1. Bullet-proofing your assets so that the bad guys are worse of if they try and take them away from you.
2. Slashing your taxes so that they are within single digits.
3. Protecting your privacy and building lasting wealth.
Let me explain how this works with the following example:
A case study: My friend Patrick grew up with the family business. His family sold expensive boats. His business grew. He was a financially intelligent man so he wanted to add a stream of income. Therefore, he decided to start a Marina, a land storage facility, a parts shop and a show room. I wanted to make sure he was properly protected and that he had bullet-proofed his assets. However, he was too busy making money to focus on it at that time. This was his fatal flaw. One day, I got that dreaded call from Patrick. The sheriff deputy was there to shut down his businesses: the Marina, the parts shop, the storage facility, and the show room. His business was locked down with pad locks in a matter of hours. Within six months, he lost all of his personal assets and filed both personal and corporate bankruptcy. The tragedy here is beyond his loses but the fact that this situation was completely avoidable. You can prevent this from happening to your business by using two power tools:
1. Limited Partnerships: separate legal entities. They separate your personal assets from business investments.
2. Limited Liability: similar to Limited Partnerships as they form a wall between you and the creditors and predators.
These two power tools include a built-in charging order that does not apply to your typical “S” or “C” corporations. A charging order basically states that the “bad guys” can not go after your assets. They will be able to go after income but not after you employ the following strategy. We can set up a separate management company for you. Then, you can shift your money from your LLC or LP into your separate management company. The last step in your protection is called imputing income, and it finalizes the prevention of lawsuits. The IRS can step in and tax these bad guys for the money they are suing for (even when they are unable to collect this money.) This ensures the fact that suing you will not be worth the effort.
In summary: They can not touch your assets because you have protected them. They can not receive the income because you have shifted it out. They are left with heavy taxes imposed by the IRS. Therefore, the likelihood of you being sued is next to nothing.
Thursday, June 3, 2010
Entertainment Sources
It is the digital revolution era. Almost every electronic component is digitalized. Though more expensive, digital equipment is preferred, because the quality is superior. When investing in digital equipment, an important factor to consider is the nature of the entertainment center that will accommodate them. A digital entertainment center houses all the digital equipment in one unit. It allows users to access their music, movies, home videos and photos from a single device via a remote control.
Users can purchase a digital entertainment center that doubles as a media center for their TV or projector and have access to all the media functions at one place. Any device such as a DVI, component video, VGA, S-Video or composite video can be used to make this connection.
With a digital entertainment center, it is possible to perform a number of operations from a single device. A user can pause, replay and record any TV program from cable, digital cable, digital satellite or over-the-air TV with the help of a personal video recorder, and transfer photos from a camera. Some entertainment centers allow a person to perform various functions simultaneously. For instance, it is possible to simultaneously watch TV or a video in one room and play music in another. It is also possible to record a favorite program and write them on DVDs.
The best part about digital entertainment centers is that they allow a user to perform so many different tasks at once. The quality of its media output is also enhanced. As they are not bulky and do not occupy as much space as the traditional entertainment centers, it is possible to merge them into the décor of a home irrespective of its size.
Televisions come in a variety of sizes ranging from the corner stand TVs to the complete range of home theater systems. While finding a place to store a normal size TV proves no problem, finding space for your big screen entertainment center may require some elaborate planning.
For setting up a big screen entertainment center, you need to first make a list of components and equipment that will be needed. A typical list of components will include the TV, VCR, laser disc player or DVD player, stereo system, and console-based game station.
Given the varied assortment of the components involved and their sizes, big screen entertainment centers take up a lot of space in any room – living or bedroom. That means they need to be aligned to any one wall in a room. Apart from the electronic equipment, these big screen solutions also have provisions for books and a computer.
This means that these centers can fulfill the relaxation and recreational needs of several people at once and therefore, these entertainment centers become the converging point for entire family. The position of a big screen entertainment center also determines the setting of the entire room.
An entertainment center aligned to a wall can become the anchor of the entire room, around which the rest of the furniture such as the sofa, is arranged. The entertainment center and the rest of the furniture of the room should blend aesthetically with the décor and color scheme of the room.
In fact, a host of contemporary and traditional designs allow for the TV, DVD player, PC and other peripheral components to blend gracefully together with each other as also with the décor of the rest of the room.
All said, television is only one of the many elements of a big screen entertainment center. In addition, you can also place your PC in the entertainment center and use it to download music or video. Yet the TV continues to rule supreme as the biggest home entertainment provider. To get the complete theater sound effect, you can connect surround-sound speaker systems. The sound of these systems varies depending on where you place them.
Users can purchase a digital entertainment center that doubles as a media center for their TV or projector and have access to all the media functions at one place. Any device such as a DVI, component video, VGA, S-Video or composite video can be used to make this connection.
With a digital entertainment center, it is possible to perform a number of operations from a single device. A user can pause, replay and record any TV program from cable, digital cable, digital satellite or over-the-air TV with the help of a personal video recorder, and transfer photos from a camera. Some entertainment centers allow a person to perform various functions simultaneously. For instance, it is possible to simultaneously watch TV or a video in one room and play music in another. It is also possible to record a favorite program and write them on DVDs.
The best part about digital entertainment centers is that they allow a user to perform so many different tasks at once. The quality of its media output is also enhanced. As they are not bulky and do not occupy as much space as the traditional entertainment centers, it is possible to merge them into the décor of a home irrespective of its size.
Televisions come in a variety of sizes ranging from the corner stand TVs to the complete range of home theater systems. While finding a place to store a normal size TV proves no problem, finding space for your big screen entertainment center may require some elaborate planning.
For setting up a big screen entertainment center, you need to first make a list of components and equipment that will be needed. A typical list of components will include the TV, VCR, laser disc player or DVD player, stereo system, and console-based game station.
Given the varied assortment of the components involved and their sizes, big screen entertainment centers take up a lot of space in any room – living or bedroom. That means they need to be aligned to any one wall in a room. Apart from the electronic equipment, these big screen solutions also have provisions for books and a computer.
This means that these centers can fulfill the relaxation and recreational needs of several people at once and therefore, these entertainment centers become the converging point for entire family. The position of a big screen entertainment center also determines the setting of the entire room.
An entertainment center aligned to a wall can become the anchor of the entire room, around which the rest of the furniture such as the sofa, is arranged. The entertainment center and the rest of the furniture of the room should blend aesthetically with the décor and color scheme of the room.
In fact, a host of contemporary and traditional designs allow for the TV, DVD player, PC and other peripheral components to blend gracefully together with each other as also with the décor of the rest of the room.
All said, television is only one of the many elements of a big screen entertainment center. In addition, you can also place your PC in the entertainment center and use it to download music or video. Yet the TV continues to rule supreme as the biggest home entertainment provider. To get the complete theater sound effect, you can connect surround-sound speaker systems. The sound of these systems varies depending on where you place them.
Wednesday, June 2, 2010
Builders Cleans – A Lucrative Market For Commercial Cleaners
With office cleaning becoming an increasingly competitive market for contract cleaning companies they must diversify or move into a niche market if they wish to continue to grow. One niche market that is not so competitive is that of ‘builders clean’. The number of companies that offer a good, high quality service to the construction industry is relatively small. So for small to medium sized firms it is well worth considering entering this market.
In order to succeed the company must be prepared to come out of the safe environment of office cleaning which provides a regular and consistent income but at relatively low profit margins and take a leap into the world of uncertainty. You can build up a group of builders that you clean for but the work can still be spasmodic and irregular. You could go for the large house building companies where a project might extend over two years and carry out three or sometimes four cleans on each dwelling. For these you do have to be prepared to reduce your profits for the security of constant work because they actually pay less than other types of construction but still require the same high standard of cleaning.
To gain credibility in the industry you have to be prepared to work with the builder and meet their requirements. Their requirements are under time constraints and the cleaners are generally the last contractors to be brought into a project. Very few projects run smoothly to the planned programme therefore quite often as a cleaning contractor you must be prepared to alter your schedules and react quickly to changes in the plan. Sometimes with only 24 hours notice. This can cause problems in staffing a particular clean. So you and the workforce must be prepared to be very flexible.
It is also not uncommon to turn up on a site to carry out a clean to find a whole variety of sub contractors still at work and nothing ready to clean. Although frustrating it is all part and parcel of getting into the world of builders cleans.
In order to succeed you must firstly maintain a high standard in your cleaning if you wish to be called back to do other cleans by the contracting company and secondly you must be prepared to be incredibly flexible and meet demands that come in at short notice. Once you have proved your worth to a building company they will call you in to complete all their cleans. Each clean is quite profitable so it is well worth the time and trouble put in to developing the right contacts and putting together a good team of cleaners who are prepared to be very flexible in when and where they work. If you do not have a pool of cleaners that you can call on easily and quickly then you will end up finding it difficult to cover builders cleans when they come in thick and fast!
In order to succeed the company must be prepared to come out of the safe environment of office cleaning which provides a regular and consistent income but at relatively low profit margins and take a leap into the world of uncertainty. You can build up a group of builders that you clean for but the work can still be spasmodic and irregular. You could go for the large house building companies where a project might extend over two years and carry out three or sometimes four cleans on each dwelling. For these you do have to be prepared to reduce your profits for the security of constant work because they actually pay less than other types of construction but still require the same high standard of cleaning.
To gain credibility in the industry you have to be prepared to work with the builder and meet their requirements. Their requirements are under time constraints and the cleaners are generally the last contractors to be brought into a project. Very few projects run smoothly to the planned programme therefore quite often as a cleaning contractor you must be prepared to alter your schedules and react quickly to changes in the plan. Sometimes with only 24 hours notice. This can cause problems in staffing a particular clean. So you and the workforce must be prepared to be very flexible.
It is also not uncommon to turn up on a site to carry out a clean to find a whole variety of sub contractors still at work and nothing ready to clean. Although frustrating it is all part and parcel of getting into the world of builders cleans.
In order to succeed you must firstly maintain a high standard in your cleaning if you wish to be called back to do other cleans by the contracting company and secondly you must be prepared to be incredibly flexible and meet demands that come in at short notice. Once you have proved your worth to a building company they will call you in to complete all their cleans. Each clean is quite profitable so it is well worth the time and trouble put in to developing the right contacts and putting together a good team of cleaners who are prepared to be very flexible in when and where they work. If you do not have a pool of cleaners that you can call on easily and quickly then you will end up finding it difficult to cover builders cleans when they come in thick and fast!
Enter The Matrix – Pie In The Sky Or Digital Sweat Shop?
One of the most commonly used buzz terms in the home business niche is ‘matrix plan’. It has a nice ring to it I’ll admit.
Promoters often use this phrase to suggest a stable, well formulated income stream. But in reality this type of opportunity scam is anything but lucrative for the majority of participants.
Before I continue, I want to point out that almost all matrix programs fall under the FTC’s classification of pyramid schemes and ponzi scams. They’re illegal systems that allow a few con artists to fleece the gullible masses.
Having said this, I want to focus not on the legal ramifications, but on the sheer logistics involved in a matrix program.
In a nutshell, a matrix format requires you to invest money into a perceived business opportunity, and then recruit new investors to the opportunity in an effort to recover your investments and earn profit. Typically you receive only a very small commission from each new referral, and therefore need to gather a large number of recruits in order to achieve a decent income.
Here’s a quick example of how a common matrix structure might work:
You pay $295 to participate in a home business opportunity (red flag number one, by the way).
You then must recruit three other people to fill your first matrix level. Each of these new referrals might earn you a $20 commission.
Each of these new recruits will then need to refer three people to their first level. Those individuals who are recruited by your first level will be on your second level.
You might earn a $10 commission from each of your second level referrals.
Of course, these second level participants will each be required to refer three new people in order to complete their first level. And these new people who are recruited by your second level will be, you guessed it, your third level referrals.
You might be compensated $5 for each third level member in your referral network.
Confused yet? Great. That’s just what the people who dreamed up this kind of system had in mind when they rolled it out.
In the above example, which is very typical of matrix structures, you would have earned $295 in commissions. That would be enough for you to break even, and anything else gained from your participation would be profit.
Doesn’t sound too bad, right? Let’s take a closer look.
In order for you to recover your original investment of $295, nearly forty other people have to invest the same amount of money into this alleged business opportunity.
So you either:
a) have to help your referrals convince 39 people to lay out almost 300 bucks to participate in an obvious pyramid scheme,
or
b) have to sit back helplessly and rely on these referrals to make it happen on their own.
In either scenario, you have little control. Your breaking even depends entirely on whether or not 39 other human beings are willing to spend $295 within your downline structure.
And this gets better. Most matrix programs will only pay commissions on a full level. So if you only have 26 people on your third level instead of the required 27, you don’t get a dime.
But not to worry. The program owners still get paid.
In fact that’s what this whole thing is about in the first place. The people that devise these repugnant matrix structures know full well the majority of their members will fail to recruit the number of people required to achieve payout.
So what we have is hundreds, maybe thousands of people investing their money and time into a losing situation. A few participants might profit, but most will not. The founders of the program, of course, stand to make millions from this structure.
Opinions vary, but I don’t see any reason to work my butt off for nothing. Especially if my efforts are paying huge dividends to someone else.
Promoters often use this phrase to suggest a stable, well formulated income stream. But in reality this type of opportunity scam is anything but lucrative for the majority of participants.
Before I continue, I want to point out that almost all matrix programs fall under the FTC’s classification of pyramid schemes and ponzi scams. They’re illegal systems that allow a few con artists to fleece the gullible masses.
Having said this, I want to focus not on the legal ramifications, but on the sheer logistics involved in a matrix program.
In a nutshell, a matrix format requires you to invest money into a perceived business opportunity, and then recruit new investors to the opportunity in an effort to recover your investments and earn profit. Typically you receive only a very small commission from each new referral, and therefore need to gather a large number of recruits in order to achieve a decent income.
Here’s a quick example of how a common matrix structure might work:
You pay $295 to participate in a home business opportunity (red flag number one, by the way).
You then must recruit three other people to fill your first matrix level. Each of these new referrals might earn you a $20 commission.
Each of these new recruits will then need to refer three people to their first level. Those individuals who are recruited by your first level will be on your second level.
You might earn a $10 commission from each of your second level referrals.
Of course, these second level participants will each be required to refer three new people in order to complete their first level. And these new people who are recruited by your second level will be, you guessed it, your third level referrals.
You might be compensated $5 for each third level member in your referral network.
Confused yet? Great. That’s just what the people who dreamed up this kind of system had in mind when they rolled it out.
In the above example, which is very typical of matrix structures, you would have earned $295 in commissions. That would be enough for you to break even, and anything else gained from your participation would be profit.
Doesn’t sound too bad, right? Let’s take a closer look.
In order for you to recover your original investment of $295, nearly forty other people have to invest the same amount of money into this alleged business opportunity.
So you either:
a) have to help your referrals convince 39 people to lay out almost 300 bucks to participate in an obvious pyramid scheme,
or
b) have to sit back helplessly and rely on these referrals to make it happen on their own.
In either scenario, you have little control. Your breaking even depends entirely on whether or not 39 other human beings are willing to spend $295 within your downline structure.
And this gets better. Most matrix programs will only pay commissions on a full level. So if you only have 26 people on your third level instead of the required 27, you don’t get a dime.
But not to worry. The program owners still get paid.
In fact that’s what this whole thing is about in the first place. The people that devise these repugnant matrix structures know full well the majority of their members will fail to recruit the number of people required to achieve payout.
So what we have is hundreds, maybe thousands of people investing their money and time into a losing situation. A few participants might profit, but most will not. The founders of the program, of course, stand to make millions from this structure.
Opinions vary, but I don’t see any reason to work my butt off for nothing. Especially if my efforts are paying huge dividends to someone else.
Tuesday, June 1, 2010
Branding Your Ebiz - Creating A Name Your Customers Trust
If you want customers to spend money with you online, you have to make them feel confident they’re dealing with a legitimate business. They’re giving you their personal information, as well as their credit card number. If your website sends a clear message you run your business from home, they may not feel comfortable entrusting you with that kind of info. That’s why it’s important to create a brand your customers recognize and trust.
What’s a Brand?
A brand is what differentiates you from every other eBiz out there:
• A brand is a set of expectations you create in your customers’ minds in regards to your business. It comprises everything from the quality of your website to your customer service to your actual merchandise. More than just a name and logo, it’s your buyer’s entire experience with your company.
• A brand is a reputation. A good brand adds value to your product—buyers expect a certain quality based on the brand name. If they recognize your brand and have a good association with it, they’re likely to choose it over other similar products, even if it costs a little more.
Your Branding Should Be Consistent
Explains Eileen Parzek, of http://SohoItGoes.com, “Consistently use a brand design throughout all your different marketing material… It gives a sense you’re bigger than you really are.” You need to figure out what your marketing message is and carry that message through all your promotional materials. If you have business cards, press kits, and print materials, they should reflect the design of your website from the fonts and color palette to the logo and tagline.
Your format should also persist through all of your web pages—the layout, the tone of your copy, even your navigation. Having a unified, professional-looking web store can go a long way towards building a customer’s confidence in you. A well-designed site gives your business credibility—customers associate the quality of your site with the quality of service and merchandise they expect from you.
Your Branding Should Be Continuous
Your brand should evolve to reflect the changing needs of your target market—branding’s an ongoing process. It begins, ideally, in your business’ startup phase and continues through the life cycle of your business. Says Parzek, “[Branding] is not something you ever stop doing. You have to be conscious of it at all times.”
Enjoying your Eco-friendly party
Everyone, especially kids, love to have a party but most of these parties are just toxic attacks on our planet. There are various eco-friendly supplies using which we can enjoy our children green parties which are entertaining as well as eco-friendly. First of all, try to purchase all of your green party supplies from the nearest local store, thus this will save fuel thus reducing pollution and emissions. If you are involving candles for decoration, try to use soy based ones which do not emit toxic materials when burned. Kids green parties thrown at the time of their birthday are great for having fun and celebration. Try to use eco-friendly supplies as far as possible to throw children green parties that are not harmful for the environment. Planning for kids green parties start right from the beginning:
• Ditch the usual paper invitations, instead you can use other services like e-mails to invite your guests or if you really need to send invites to them, you should consider making use of eco-friendly supplies like home made or recycled paper for making cards for your kids green parties. This way, you will not only save money needed for postage but will also save trees and other natural resources. There are many stores that offer eco-friendly supplies of recycled cards, so make sure to shop accordingly. Some of these cards are made up of materials not provided by trees.
• As far as eco-friendly goodie bags and eco-friendly presents are concerned, you must wrap them up in recycle paper and even newspaper. After all, the actual gift is more important than the wrapping paper. You can use old-fashioned colors to brighten up your wrapping papers. In addition to that, you can mention in your invites made up of eco-friendly supplies also that your guests must bring only eco-friendly presents and wrap them up in eco-friendly supplies only keeping in mind the theme of kids green parties. While going to children green parties, try to give cash to the birthday child because this way the child will save something in his or her without harming the environment.
• While enjoying your children green parties, try to make use of eco-friendly toys to play, enjoy and have fun. These are one of the best green party supplies that a person can imagine. Explore your imagination and play with eco-friendly toys like hand-knit dolls and balls that are made up of safe and natural materials.
• Instead of accessories like paper plates and dishes, use should use green party supplies like table clothes made of linen rather than plastic and use dishes and plates that can be washed and re-used rather than use and throw ones.
• Eco-friendly goodie bags should be made up of green party supplies and you can even try to hand out healthy snacks and fruits and eco-friendly toys made up of eco-friendly products in an eco-friendly way.
At www.littlestarcreativeparties.com, you can find innovative ideas about eco-friendly goodie bags, eco friendly toys and eco friendly presents and get some of the best green party supplies in the market. The site will also teach you how to make eco friendly goodie bags and eco friendly presents.
• Ditch the usual paper invitations, instead you can use other services like e-mails to invite your guests or if you really need to send invites to them, you should consider making use of eco-friendly supplies like home made or recycled paper for making cards for your kids green parties. This way, you will not only save money needed for postage but will also save trees and other natural resources. There are many stores that offer eco-friendly supplies of recycled cards, so make sure to shop accordingly. Some of these cards are made up of materials not provided by trees.
• As far as eco-friendly goodie bags and eco-friendly presents are concerned, you must wrap them up in recycle paper and even newspaper. After all, the actual gift is more important than the wrapping paper. You can use old-fashioned colors to brighten up your wrapping papers. In addition to that, you can mention in your invites made up of eco-friendly supplies also that your guests must bring only eco-friendly presents and wrap them up in eco-friendly supplies only keeping in mind the theme of kids green parties. While going to children green parties, try to give cash to the birthday child because this way the child will save something in his or her without harming the environment.
• While enjoying your children green parties, try to make use of eco-friendly toys to play, enjoy and have fun. These are one of the best green party supplies that a person can imagine. Explore your imagination and play with eco-friendly toys like hand-knit dolls and balls that are made up of safe and natural materials.
• Instead of accessories like paper plates and dishes, use should use green party supplies like table clothes made of linen rather than plastic and use dishes and plates that can be washed and re-used rather than use and throw ones.
• Eco-friendly goodie bags should be made up of green party supplies and you can even try to hand out healthy snacks and fruits and eco-friendly toys made up of eco-friendly products in an eco-friendly way.
At www.littlestarcreativeparties.com, you can find innovative ideas about eco-friendly goodie bags, eco friendly toys and eco friendly presents and get some of the best green party supplies in the market. The site will also teach you how to make eco friendly goodie bags and eco friendly presents.
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