How To Price Your Products by Sam Lifton

Whether you are a budding entrepreneur or a veteran businessman, I bet you've had your share of pricing problems. For how much would I sell this contraption? Would my customers buy it at that price? How many units would I sell at this price? Would they appreciate the service at that price? These kinds of questions would barrage your brain instantly at an indefinite rate.
There are a lot of things to consider for pricing items or services, for instance, the worthy competitors' prices, the feasibility for your business in the long run, and the consumers' willingness to pay for your item or service. Well if you think about it, you really don't want to lose money on items not sold (these are the stocks that gather dust on the shelves) which have no chance of really being sold.
So when it comes to pricing, you should keep all these in mind. Also, selling more at a low price doesn't necessarily mean you're doing well profit-wise. I read an article that said otherwise, and the businessman ended up only breaking even. You wouldn't want that would you? After all the effort you end up where you were at the very start. What's the point of your business then? Certain schemes on the Internet promise you tips on how to effectively list and appraise your stuff, with more of them turning up to be scams and other whatnot.
There are theories in economics which delve into the phenomenon that is pricing. Consulting economics books would definitely help you in this endeavor. With concepts that include effective marketing strategies, estimation of the demand curve, elasticity, and environmental costs, you wouldn't go wrong. This article is just a simple guide which would hopefully enlighten you in the said topic.
There are at least a dozen different approaches in right item or service pricing (to sky rocket profits and expand your business), and the following are some of them:
The first approach in order to get the price right involves a lot of research. You should consult your audience or customers for they are the end users of your products or services. In a way, it could be considered as a feasibility study. Now doing this would take a little time, as surveys need ample polishing and data processing, but the rewards would be golden for the results would explain what you really need to do. This method is very advisable for business starters.
The second approach also involves a little research as you will be comparing your competitions' prices with each other, ending up with alternate prices. The method may be sneaky to some, but it is effective. It's less stressful than the first approach, as this would only involve a little investigation on your part. Enjoy your competitors' coffee or bagels while you're at it, or let your friends or employees scout their prices for you to save face.
The third approach involves self-appraising your products. You are in charge of how much you really want the item or service to sell. A massage? Homemade cookies? You set the price. Just take a good look at your goods and figure out how valuable the items or your services are, and make sure you price them fairly. Taking a look at the demand in the market would also give you an idea on how to reasonably appraise your items or service, with higher demand fetching a higher price and a lower demand fetching a lower price.
Basically, the best pricing strategy would earn the business a lot of money after meeting all the costs, which are the other expenses in the said business. An article I stumbled upon gave me a clearer image of the situation that the price of each item or service should include the expenses related to it just to get the expenses out of the way. This really makes sense if you think about it. Now who would want to charge less than what he spent for in the first place? Now that would be a no-brainer. Of course you would want the raw materials and labor for the product to be compensated. Add a little more to this and then you'll be making your profit.
I hope this article gave you something to think about. If your business doesn't take off as anticipated, find out what exactly you need to tweak. If you think the prices of your goods and services are too much, consult someone with ample knowledge about markets and find out exactly what it is that needs to be done. Most probably you'll be doing a little research, as I have suggested earlier. But hey, what's a little research if you're really set on succeeding in your business? You'll get your nest egg soon enough, with a little more effort and perseverance.

Putting Yourself in Position for a Promotion by William Mitchell

"Leadership is unlocking people's potential to become better." - Bill Bradley
You come into work one hour early and you leave two hours late. You handle your day-to-day duties like a well-oiled machine, expeditiously knocking out tasks like Mike Tyson (early career, of course). On top of that, you accept every special project the boss farms out, and you nail it. You're a sure bet for that promotion now, right? Don't kid yourself.
It usually takes more than "keeping your nose to the grindstone" to move up in the corporate world. Success in the workplace (and anywhere in life) is all about the intangibles.
Network - The farther up the career ladder you go, the more important this skill becomes. As such, you may as well start sharpening them now. Networking is not only the most effective way to search for employment, it is also the best way to develop solid foundational relationships with people who can help you move up the chain of command. The best way begin such a relationship is to offer value to someone with no expectation of an immediately returned favor. But be careful to begin building this goodwill well before you are actively looking for a helping hand. This way, you don't come across as a user. What goes around does come around, but it is better for it to travel a longer distance before it does.
Establishing relationships in social settings are a great way to personalize your network. When invited to happy hour on Friday, make it a point to go if the right contacts are also going to be present. You want to be sure to do more listening than talking at the start. Get a feel for the type of group you are out with, as well as the networking target's role in the group. Is the conversation light or topical and controversial? Feel your way though the communications maze to ensure a smooth transition to linking up with your target networking contacts.
Make a Decision - It is usually the nature of most people to let someone else make big decisions for fear of the consequences if things do not go as planned. If this is you, then that has to change NOW! The farther up the ladder you go, the bigger the decisions will be. If you are afraid to make them now as a member of four-person project team, how can you possibly make them as a manager of 5 different project teams?
Every chance you get, take the lead on projects and team-structured duties. Put your personal stamp on things and tactfully make certain that the right people know about it. Don't worry; most of the people you are working will gladly let you do so. They'll want no part of explaining why something was done, or why a decision was made. As long as your actions match up properly with the project purpose and the department/company mission, you can defend it.
ASK FOR IT - Whether there is a live opening up for grabs or nothing on the immediate horizon, your management team should be made aware of your desire to move up the chain of command and accept responsibility. Throw your hat in the ring and don't sit back waiting for someone to recognize you as a legitimate candidate. Overseeing your career growth is usually not very high on your management team's "To-Do" list. This is in every way your responsibility.
Ask you management team what it will take for you to move up. Is there additional training that they feel you need? Do they feel you are not showing enough initiative? Get the information straight from the source and leave nothing to chance.
When you seek a promotion, you are seeking addition leadership and responsibility and this means additional risk. You have to be ready to deal with decisions that don't pan out. Remember - you can't steal second base if your foot is still on first.

3 Ways to Get Investors Interested in Your New Business by Microsoft Small Business

Start with a business plan
The world is full of people who could not find the funds to turn their great ideas into viable business ventures. But it's also full of people who could - and did.
To join the ranks of successful entrepreneurs able to obtain financial backing, experts recommend you do at least three things before you go out and try to persuade a lender that your great idea is worth investing in.
1. Write a business plan If you're launching a new business, writing a business plan is worth doing whether you are seeking outside investors or not. That's because your business plan basically defines what your business is all about: It outlines your strategy for developing and growing your business and establishes how you will measure success.
Investors will want to see your business plan; in fact, it may be the first thing they ask for. Here are basic components you should consider including in your business plan:
* Mission statement - Clearly but concisely state your company's long-term mission.
* Management team - List the CEO and other management staff, including their experience in the business your are starting and achievements that demonstrate a record of success.
* Market summary - Review the trends and changes in market share--including key players, costs, pricing and competitors--that identify the opportunity for your business.
* Opportunities - Call out issues and problems that your potential customers have and the product and/or service opportunities created by those problems.
* Business concept - Describe the key concept, technology or strategy on which your business is based.
* Competition - Outline who your competitors are and the competitive advantage your company brings to the market.
* Goals and objectives - List your financial projections for a 3- to 5-year timeframe, including a summary of your forecasts and the spreadsheets you used to arrive at them. Be sure to list specific, measurable objectives for achieving your goals - including both market share objectives and revenue/profitability goals.
* Financial plan - Develop a high-level outline that explains your financial model and pricing assumptions; include expected annual sales and profits. Be as thorough as possible in this area; investors will want to closely scrutinise when and how they will see a return on their investment.
* Resource requirements - Provide a list of what it's going to take to make your venture viable. Include personnel, technology, finances, distribution, promotion, products and services.
* Risks and rewards - Be honest about the risks involved in your venture and how they will be addressed. Also estimate rewards anticipated; again, this is something investors will want to see.
* Key issues - Identify both near-term and long-term issues that need resolution, particularly those dependent on financing.
Once you have gathered the information you need and written your plan, use the Business Plan Presentation that is part of the Small Business Office Template collection (see Tools below) to create a presentation you can give to potential investors. Be sure to customise the template with your company's logo and colour scheme if you have one.
2. Prepare your talk Having a business plan means you've already started down this path, but before you start knocking on investors' doors, you need to be prepared to discuss some other issues. For instance:
* As the leader of this new enterprise, investors are going to want to know about your personal credit history and how much collateral you're willing to put into the venture. You need to be prepared with detailed information.
* They'll want to hear more details about the competitive landscape. Consider using the Competitive Points List chart found in the Small Business Office Template collection (see Tools below) as a starting point.
* How will potential customers learn about your product or service? Having at least a basic marketing plan outlined will let them know you are serious about building a successful company. Use the Basic Marketing Plan template that's part of the Small Business Office Template collection to get started.
The more ways you can demonstrate to potential investors that you've put a lot of thought into this new business, the more interested they will be. You might also be prepared to discuss how you're going to track your financials; it might be useful to have some knowledge of financial management software designed for small businesses.
3. Create relationships, not transactions Before you start talking to investors, have a plan in place for how you will use their expertise as well as their money. It's likely that people who lend money to small businesses have valuable insight to offer from their experience with other start-ups, or perhaps from starting their own companies. Make it clear when you meet with them that you'd welcome their involvement and advice and suggest ways they could help you, either formally as a member of a board of directors or informally as an advisor.
This approach will show investors that you are open-minded and willing to learn from others while at the same time, organised, driven and fully committed to making your business succeed.

Are Leaders Born Or Made? by: Wally Bock

For centuries people have debated whether leaders are born or made. Several decades ago researchers started trying to answer the question. The debate goes on, even though we know the answer. It turns out to be a little of both. Leaders are sort of born and they're always made. Knowing the details will help you develop effective leaders for your company. Leaders are Sort of Born It seems like there's only one thing that a person needs to actually be born with in order to be a leader later in life. That's intelligence. A leader needs to be smart enough. Effective leaders aren't necessarily the smartest people in the room or the company or even on the team. But they have to be smart enough to do the job they're assigned. What's more important is what kind of person the potential leader is when he or she becomes an adult. The person who emerges from adolescence into young adulthood has the psychological and character traits they'll demonstrate for the rest of their life. Some of those matter for leadership. By the time a person becomes an adult we can tell if they can help other people achieve results. That, after all, is what we expect leaders to do. We expect them to achieve success through a group. We expect them to help their subordinates grow and develop. By the time a person becomes an adult, we can tell if they want to achieve objectives or if they just want to go along and take it easy. We expect leaders to be responsible for achieving results. You can have a marvelous life without a results focus, but if you're going to lead successfully you have to have the drive and willingness to be measured by the results of your leadership. By the time a person becomes an adult, we can tell if they are willing to make decisions or not. Lots of people wake up every day and let the world happen to them. But leaders must be able and willing to make decisions that affect themselves and others. By the time a person becomes an adult we can tell if they have the basic qualities that we expect leaders to have. We can determine if they're smart enough to do the job. We can tell if they are willing to help others to achieve results as a group. And we can tell if they will make decisions. Those things are essential. People who have them can learn the multiple skills it takes for them to become effective leaders. No matter how they measure up on the key essentials, no one emerges from the womb or from adolescence with all the skills in place to be an effective leader. Everybody has to learn the job. That's why leaders are always made. Leaders are Always Made Leadership can be learned by anyone with the basics. But an awful lot of leadership cannot be taught. That's because leadership is an apprentice trade. Leaders learn about 80 percent of their craft on the job. They learn from watching other leaders and emulating their behavior. They choose role models and seek out mentors. They ask other leaders about how to handle situations. Leaders improve by getting feedback and using it. The best leaders seek feedback from their boss, their peers and their subordinates. Then they modify their behavior so that they get better results. Leaders learn by trying things out and then critiquing their performance. The only failure they recognize is the failure to learn from experience. In their book, Geeks and Geezers, Warren Bennis and Robert Thomas identify the special power of what they call "crucibles." These are trials which teach hard lessons that leaders use as the basis of their strength in later crises. Many of these events can be called "failures," but leaders turn the bad situation to good by learning from it. Effective leaders take control of their own development. They seek out training opportunities that will make a difference that will make a difference in their performance. Effective leaders look for training programs that will help them develop specific skills that they can use on the job. Then, they when they return to work, they devote specific, deliberate effort to mastering in real life what they learned in the classroom. Marshall Goldsmith and Howard Morgan studied the progress of 88,000 managers who had been to leadership development training. The people who returned from the training, talked about it, and did deliberate work to apply their learning were judged as becoming more effective leaders. The ones who didn't showed no improvement. If you're responsible for leadership development for your company, you should structure your support for your leaders to recognize that most leadership learning happens on the job. Help people develop leadership development plans. Help them select specific skills training and then work on transferring skills from the training to the job. Help them find role models, mentors and peers to discuss leadership issues. Help your leaders get feedback from their boss, peers and subordinates. Work to create the culture of candor that will make that feedback helpful and effective. Don't stop there. Make sure that you evaluate your leaders on their leadership work. Reward them and hold them accountable for accomplishing the mission through the group. And hold them accountable for caring for their people and helping them grow and develop. A Leader's Growth is Never Done Leadership learning is a lifetime activity. You're never done because there's always more to learn. There are always skills you need to improve. Effective leaders seek out development opportunities that will help them learn new skills. Those might be project assignments or job changes. What they have in common is that the leader develops knowledge and skills that can be used elsewhere. Effective leaders also seek out opportunities that will increase their visibility. The fact is that great performance alone will not propel you to the top in your career. You also have to be visible to people who make decisions about promotions and assignments. If you're responsible for developing leaders in your company, set up programs to give your leaders both kinds of development opportunities over the course of their careers. There's no magic formula for developing quality leaders in your company. But if you select potential leaders with the essential traits, then support them with training, feedback, on-the-job learning and development experiences and hold them accountable for results, you'll have the leaders you need to shape your company's future.

Learn About Equity Index Annuities by: Scott Walker

‘Save for a rainy day’ is a wise old saying and there are many ways you can prepare for the sunset of your life. Investing in an annuity is one way. An annuity is a long-term, interest-paying contract offered through an insurance company or financial institution. An equity indexed annuity is an annuity that earns interest that is linked to a stock or other equity index. Depending on how those stocks fare will determine what you gain. The equity index annuities, as in any kind of investments, have to be kept untouched for a long period. The typical time is a minimum of 7 years. This will ensure that you get the full benefit of having invested in an equity index annuity. The equity index annuities are basically an option of investment that is offered by insurance companies. They actually provide you with the benefit of investing in the stock market without the associated risks of losing your money. So, in an equity index annuity, your principal is never lost and even in a worst case you may take some interest back home. The flip side of this however is that even if the stocks that the equity index annuity is invested in gives high returns, you will not receive the full returns but just a percentage. So you do not get the maximum returns for your equity index annuity but just a part. This is however the compensation that the insurance companies who offer you the equity index annuities receive, for providing you with a safety net throughout the term of the annuity. The percentage of returns (i.e. the gain of the index) that your equity index annuity brings you is determined by the participation rate. This rate is pre-decided and varies and to know this you have to read the fine print prior to signing on the documents. The general participation rate offered for most equity index annuities is between 70 to 90 percent. The equity index annuities are therefore seen as a conservative and prudent investment. They became quite popular during the previous bullish run in the market and insurance companies saw them as an excellent means of combining the security of a guaranteed return with the boom of the stock market. All equity index annuities offer a minimum interest rate and its value also does not fall below the guaranteed minimum percentage of the premium paid i.e. 90 percent at least. However to achieve maximum benefits, your equity index annuities should not be withdrawn before the term. If you do even a partial withdrawal it will definitely affect the interest you receive. Like all investments, this is best kept for a long term. This will also help your equity index annuities even out and recover if the index plunges. As we know the stock market is volatile and this needs to be kept in mind when investing. Also there are definite withdrawal penalties that you would have to pay as well. How then do the insurance agencies benefit from offering equity index annuities? The insurance companies reinvest the premium amounts that you pay and this is usually invested into bonds. Since the participation rate is fixed, they have to pay only those set rates of interest to the investors of the equity index annuities and the insurance companies profit the balance. Equity index annuities are generally affiliated to a particular stock market index such as the S&P 500 or the Dow Jones Industrial Average. However as the equity index annuities combine features of a typical insurance product with the traditional security they do completely fall into each of those specific categories. As a typical insurance product you are guaranteed minimum return and in terms of securities your investment is linked to the equity market. However it all depends on the features that your equity index annuity provides and it may or may not be a security. The typical equity-indexed annuity is not registered with the SEC. So then how does one know which equity index annuity is best for oneself? The only way is to find out as much as you can about the equity index annuity before you decide. Ask a lot of questions like which stock market index does the equity index annuity use? What participation rate is being offered to you? Are there any hidden charges in terms of any fees or deductions payable? You have to run through a number of equity index annuity offerings before making your decision. So save for a rainy day and do it the equity index annuity way!

The 5 Biggest Customer Service Blunders Of All Time by: Paul Levesque

While howls of protest over poor customer service continue to fill the air, there remain some businesses that manage to consistently deliver superior customer service year in and year out. These are the places where turbo-charged employees pursue customer delight with a passion, places that ignite a flashpoint of contagious enthusiasm in employees and customers alike. Foremost among the lessons to be learned from such flashpoint businesses are the blunders to avoid—those fatal mistakes that trip up just about everybody else. First Blunder: making customer service a training issue. Businesses of all kinds invest huge amounts in training programs that do not—and simply cannot—work. The function of such training is to identify the behaviors workers are supposed to engage in, and then coax, bully, or legislate these behaviors into the workplace. At best, this is almost always a recipe for conduct that feels mechanized and insincere; at worst, it intensifies worker resentment and cynicism. Instead of dictating what workers should be doing to delight customers, the better approach is to give workers opportunities to brainstorm their own ideas for delivering delight. Management’s role then becomes to help employees implement these ideas, and to allow workers to savor the motivational effect of the positive feedback that ensues from delighted customers. This level of employee ownership and involvement is a key cultural characteristic of virtually all flashpoint businesses. Second Blunder: blaming poor service on employee demotivation. Businesses looking for ways to motivate their workers are almost always looking in the wrong places. Employee cynicism is the direct product of an organization’s visible preoccupation with self-interest above all else—a purely internal focus. The focus in flashpoint businesses is directed outward, toward the interests of customers and the community at large. This shift in cultural focus changes the way the business operates at all levels. The reality in most business settings is that employees are demotivated because they can’t deliver delight. The existing policies and procedures make it impossible. Instead of “fixing” their employees, flashpoint business set out to build a culture that unblocks them. Workers are encouraged to identify operational obstacles to customer delight, and participate in finding ways around them. Third Blunder: using customer feedback to uncover what’s wrong. Businesses often use surveys and other feedback mechanisms to get to the causes of customer problems and complaints. Employees come to dread these measurement and data-gathering efforts, since they so often lead to what feels like witch-hunts for employee scapegoats, formal exercises in finger-pointing and the assigning of blame. Flashpoint businesses use customer feedback very differently. In these organizations the object is to uncover everything that’s going right. Managers are forever on the lookout for "hero stories" - examples of employees going the extra mile to deliver delight. Such feedback becomes the basis for ongoing recognition and celebration. Employees see themselves as winners on a winning team, because in their workplace there’s always some new "win" being celebrated. Fourth Blunder: reserving top recognition for splashy recoveries. It happens all the time: something goes terribly wrong in a customer order or transaction, and a dedicated employee goes to tremendous lengths to make things right. The delighted customer brings this employee’s wonderful recovery to management’s attention, and the employee receives special recognition for his or her efforts. This is a blunder? It is when such recoveries are the primary—if not the only—catalysts for employee recognition. In such a culture, foul-ups become almost a good thing from the workers’ point of view. By creating opportunities for splashy recoveries, foul-ups represent the only chance employees have to feel appreciated on the job. Attempts to correct operational problems won’t win much support if employees see these problems as their only opportunity to shine. Flashpoint businesses celebrate splashy recoveries, of course—but they’re also careful to uncover and celebrate employee efforts to delight customers where no mistakes or problems were involved. This makes it easier to get workers participating in efforts to permanently eliminate the sources of problems at the systems level. Fifth Blunder: competing on price. It’s one of the most common (and most costly) mistakes in business. Price becomes the deciding factor in purchasing decisions only when everything else is equal—and everything else is almost never equal. Businesses compete on the perception of value, and this includes more than price. It’s shaped by the total customer experience—and aspects such as “helpfulness,” “friendliness,” and “the personal touch” often give the competitive advantage to businesses that actually charge slightly more for their basic goods and services. Those businesses that deliver a superior total experience from the inside out (that is, as a product of a strongly customer-focused culture) are typically those that enjoy a long-term competitive advantage—along with virtual immunity from the kinds of headaches that plague everybody else. Customer-focus consultant Paul Levesque’s latest book is Customer Service From The Inside Out Made Easy (Entrepreneur Press, 2006).

Sell Your Home Faster with Seller Financing by: James MacArthur

Seller financing opens your home up to an entirely new segment of prospective buyers, and the more buyers view your home, the quicker you will find that one qualified buyer. Specifically you will attract more buyers who don't want to or would have a problem getting a bank loan, or those who want a quicker closing or more flexible payment plans than banks offer. Such buyers include the self employed who may be great candidates but are not viewed as favorable by banks as are W-2 employees. Also those with credit blemishes, who may be going down the long road of credit repair. Real estate investors are another large group, since they may own many properties with mortgages, which makes it difficult to get another mortgage from a bank. Banks typically take 30 days to close a loan, but with seller financing, YOU make the decision and this can be done much quicker, thereby removing a buyers contingencies faster and in effect leading to a much faster home sale. Regardless of whether you are selling FSBO (For Sale By Owner), or with a real estate agent, make sure you use "Seller Financing" in your marketing and advertising, be it in newspaper ads, flyers, or in the MLS description. Other Ideas to Sell Your Home Faster Number 1: PRICE IT RIGHT ! Not too high, not too low, check comparables and local agents to get the right number, if you are not getting any action after a week or two, you probably have it priced too high. If you will be selling FSBO, use a flat rate MLS open listing. For under $500 you can get listed in MLS with no frills, check the newspaper or call agents to find one who offers this. It will give you much broader exposure and is advertising well spent. Also strongly consider offering a buyers agent commission of 2-4% depending on how quick you want to sell and how hot your local market is. Put up lots of signs around the neighborhood, especially on weekends, hold regular open houses, prepare your house for sale, keep it neat & tidy and remove the clutter. Sell Your Home for Full Price 1. Normally a seller will accept a lower price (below market) for an all cash no contingency fast closing. 2. It will sell for market price if the buyer needs 30-60days to close escrow and will need to qualify for a loan at a bank and do a home inspection. 3. You as a seller should charge even more (above market) if you will be giving seller financing terms, maybe 5-10% higher than Case 2, or more depending on the terms. A Good Investment Taking back a note can be a very good investment since you will be making interest on your money which is usually better than CD's, money market rates. In fact you can select the interest rate you want! This is especially appealing if you have no need for the money right now. In fact it is such a good investment, that many investors buy seller carry-back notes. If you have no interest in holding a note, it is common for a home seller to carry-back a note and sell it at the same time as the home closing occurs. This is called a simultaneous closing. We Buy Real Estate Notes and can facilitate simultaneous closings, call for more info on this. We can also help in setting the terms of the note so you get the best price. Tax Benefits When selling a home, under current tax law, if you lived in your home for 2 of the last 5 years, your capital gains will be exempt up to $250,000 (twice that if married). Otherwise, your capital gains will be taxed in the year that you collect the capital gains. If you will have significant taxable capital gains on your home sale, it may be very good for your tax situation to take back a seller carry-back note and spread your sale proceeds over several years, or postpone it for several years. Talk to your tax adviser. Steps for Successful Seller Financing 1. Pull the prospective buyers credit report. You will need their permission, but always review a credit report on each borrower, it is a small expense. 2. Can they afford the home, job, income. If they cant afford it, or have a shaky job or income situation, a foreclosure will be much more likely. 3. Use a professional to draft the paperwork. Each state has many laws regarding real estate sales, contracts, and mortgages. Use an experienced attorney to draft the promissory note and mortgage or deed of trust. 4. Down payment - Sellers usually ask for 10-30% down payment to protect themselves in case the buyer stops making payments and the seller has to foreclose on the loan, and take the property back. The larger the down payment the more equity protection you as the seller have. The buyer will also consider how much money he has put down if he is in foreclosure and cant make the payments and wants to walk away from the house. Zero down is very little encouragement for a buyer, should he hit a rough patch. 5. 1st position or 2nd position - A first position note is much safer for the seller than a second position note. 6. Set the interest rate above current bank rates, to encourage the buyers to refinance down the road. Also Read this Article: "Tips for Creating a Seller Carry-back Real Estate Note" at http://www.jmacfunding.com/articles.htm Other Alternatives to Seller Financing 1. Land Contract / Contract to buy 2. Lease Option This information can be useful to: Home Sellers, Home Buyers, Note Buyers, Attorneys, Accountants, Financial Advisors, Real Estate Agents, Business Brokers. Disclaimer: I am not an attorney, nor a tax accountant, laws vary from state to state, and any advice implied by this paper should be checked with an attorney and/or tax adviser.