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.

Year-end Health Savings Account Tax Strategies by: Wiley Long

Year-end Health Savings Account Tax Strategies 2007 is just around the corner, and there are several issues to consider if you currently have a Health Savings Account (HSA), or are planning on getting one in the near future. 100% of the deposit you place in your HSA is deductible on your federal income taxes. All but four states also make HSA contributions tax-deductible on state income taxes. If you are looking to reduce your 2006 tax burden and put away more money for retirement, your HSA is the first place you should put your money if you have not yet maximized your contribution. The maximum you can contribute to your HSA in 2006 is the lesser amount of your deductible, or $2,700 for singles and $5,450 for families. Individuals who are 55 or older may contribute an additional $700. Note that contribution limits are pro-rated, based on the number of complete months during the year in which you have a qualifying HSA health insurance plan. You have until April 15 (or later if you file for an extension) to make your 2006 contribution. If you do not fully fund your account for the current year, you cannot make a catch-up contribution for 2006 after this deadline. However, you can reimburse yourself in later years for qualified expenses incurred in 2006, even if you do not have the funds in your account to reimburse yourself at this time. In 2007, the maximum annual HSA contribution will go up to $2,850 for individuals and $5,650 for families. Individuals 55 or older will be allowed to contribute an additional $800. To maximize your tax benefit for 2007, it is important to have your HSA-qualified health coverage in place no later than January 1. In order to pay for a medical expense from your HSA, it must be a qualified expense. Some of these qualified expenses include dental expenses, eyeglasses, chiropractic visits, over-the-counter medications, and sometimes even nutritional supplements. Now is a good time to make sure you have an accurate record of your medical expenses for the year. Make sure you separate the expenses for which you have reimbursed yourself from your HSA from those that you paid for out-of-pocket. You'll want to keep receipts for all medical expenditures paid from your HSA with your 2006 tax records. Place the "non-reimbursed medical expenses" in a separate file, keeping them with the concurrent year's tax records in whatever year you decide to reimburse yourself. The penalty for over-funding your HSA is a whopping 6%. You have until April 15, 2007 to withdraw excess funds for the 2006 tax year to avoid the penalty. Your HSA administrator may notify you of any over-funding, but they are under no obligation to do so. It is your responsibility, so make sure you check into this if you think your may have over-funded you account. The minimum deductible for HSA-compatible health insurance plans in 2006 was $1,050 for individuals and $2,100 for families. In 2007 this will increase to $1,100 for individuals and $2,200 for families. If you currently have an HSA-qualified plan with the lowest eligible 2006 deductible, that deductible will automatically go up on January 1 to the new minimum. Strategies to Maximize Your Tax Benefits There are basically three different strategies you can take when deciding how to fund your health savings account. 1. Put no money in the account, except when you incur a medical expense. This strategy allows you to legally "launder" any money used to pay medical expenses. In other words, by depositing money into your HSA, then immediately withdrawing it to reimburse yourself for medical expenses, you are making your medical expenses all tax-deductible. You may want to use this strategy if you are on a tight budget and want to keep your cash outlay as low as possible. 2. Fully fund the account, or at least put in as much as possible based on your budget. Take money out of the account any time medical expenses are incurred, and let the rest grow tax-deferred. This strategy will maximize your tax deduction, while making your HSA funds available to pay any non-covered medical expenses before your deductible is met. 3. Fully fund the account, but pay all medical expenses from a non-HSA account. Reimburse yourself for medical expenses at a later date. This strategy will allow you to maximize your tax deduction, and will also allow you to maximize the tax-deferred growth of your HSA. You can then reimburse yourself, tax-free, at any time in the future for medical expenses incurred over the ensuing years. To maximize the potential growth of your funds, you may want to make your 2007 deposits as early in the year as possible. Any growth in your account is tax-deferred, like an IRA. If possible, you should plan to make your deposit the first week in January.

The Humility Advantage - How Less Ego Creates More Sales by: Jeff Mowatt

See if this applies to you or your team members in your organization: You've been working in your industry for several years. Your responses to requests from customers, prospects and co-workers are fast and accurate. You know your stuff and your product knowledge is one of your greatest strengths. If this is the case, then the bad news is that your extensive knowledge may also be one of your greatest weaknesses. The reason - you may be inadvertently coming across as being arrogant and insensitive. I'm not suggesting that you have a holier-than-thou attitude or that you are unfriendly. It's just that you are so quick with your answers and recommendations that others feel like you haven't really been listening to their needs (even though you have). In other words, the greater your expertise, the more likely it is that you are unintentionally rubbing people the wrong way. The good news is that there's an easy way to prevent this misconception that I call The Humility Advantage©. Working with over a hundred sales and service teams over the years, I've found there are at least seven key opportunities where a little employee humility pays-off substantially. Here are three that I often share in my Influence with Ease® speeches and seminars. 1. Mention your Homework Several years ago, a couple of branding consultants approached me about enlisting their services. My first thought was that these folks knew nothing about my company or my industry, so why on earth should I pay their sizable fees. I only agreed to meet with them because a colleague said they'd done good work for his firm. When I sat down with the consultants, they did not start asking me lots of questions about me and my industry. (That would have confirmed to me that they really didn't know my business world and would have ended their chances of selling me their services). Instead, they began the meeting explaining that, by way of preparation, they'd been chatting with some of my colleagues and customers to find out their impressions of my company's services. Then, they asked if I would like to hear the word-on-the-street. As you can imagine, that got my attention. And the ensuing conversation led me to engage their services. When you talk with potential customers, do you begin the conversation by mentioning the homework you've done on their company? If not, you're missing an opportunity to let them know that you are truly interested in them. Rather than starting a sales conversation by asking about their needs, try commenting on something you saw on their website or read about them in an industry journal. It's a powerful way to confirm to others that you're knowledgeable without coming across as one who brags. It's one of the first steps in applying the humility advantage. 2. Confirm your Understanding If you've participated as an audience member in one of my live presentations, you might have seen me step off the stage pretending to be a waiter taking food orders from several audience members as if they're at a restaurant. During this skit, rather than order directly from a menu, each patron has a special request such as, “I'll have the salad with the meal.” or “I'd like to have fruit instead of fries,” etc. As the waiter, I don't write any of this down, and as you've likely guessed, when I walk away, the patrons assume that there is no way I'm going to get all the orders straight. There's the problem. I may have listened accurately to each request, but the emotions I left with my customers are worry and lack of confidence in my service. As an experienced professional in your industry, you may be a great listener, but are you perceived as such? Being regarded as a poor listener is a surefire way to kill a sale or curtail your career. Fortunately, by using a little humility, this is easy to correct. In the waiter demonstration, I redo the same order-taking scenario, except the second time after taking the orders, I say, “Let me make sure I've got this straight. You would like yours with fruit instead of fries...” (I then confirm everyone's special request accurately). Suddenly, the restaurant patrons feel good about the quality of my service. Here's the key; I repeated my understanding of their needs with the phrase, “Let me make sure I've got this straight.” Fact is, I knew I had it straight, but the customer didn't. The catch is, if my ego were running my life I'd never say, “Let me make sure I've got this straight.” Hence the Humility Advantage. Here's one more application: 3. Ask Permission to Present You've probably heard the expression that people don't like to be sold-to, but they love to buy. That means that before you present the benefits of your products or services, remember to ask for permission. When you thread all these techniques together, a sales conversation might start by pointing out the homework you've done on the other person. Then ask about their needs, confirming your understanding with, “Let me make sure I've got this straight…” Later, ask permission to present with, “Based on what you've told me, I do have some thoughts. Would you like to hear a couple of options that I think would fit for you?” Once the other person agrees, they'll feel less like they are being forced, and more like they are being helped.

Interview Questions - Things to Think About Before the Interview by: John Mehrmann

Whether you are preparing to interview, preparing to be interviewed, or just interested in conducting a quick self-analysis, the following topics tips will help you develop a perspective. PREPARATION If you are preparing to conduct an interview, begin with a clear definition of the roles and responsibilities for the position. Create a list of requirements, objectives and priorities associated with the position and use this as a guide to create specific questions for the TOPICS below. If you are preparing to be interviewed, research the job description and the company profile thoroughly. This information can frequently be found on the company web site. Develop a list of potential responses and also create your own questions to ask about the position role and responsibilities as associated with the TOPICS listed below. Even if you are not prepared to conduct an interview, or to be interviewed, you can review your current career roles and responsibilities to reflect on the following TOPICS. TOPICS What have you learned from your previous success? Can you identify significant achievements that highlight your talents, skills and capabilities? How can this knowledge and experience be leveraged to develop future success? What have you learned from your mistakes? Can you identify decisions or circumstances that you might change if given another opportunity? How can this knowledge be applied to mitigate future risks? What have you learned from your experiences and industry knowledge? Can you identify personal experience and perspectives that make you unique? How can unique experience or industry position be used as a strategic advantage? What have you learned from other people? Can you identify skills or knowledge that you have acquired from other experts, peers or mentors? How willing and able are you to learn from the expertise of others? What have you taught other people? Can you identify specific skills, motivation or direction that you have shared for a positive influence to others? How do you contribute to the community and improve your environment? How willing are you to share your knowledge? What behavior did you learn as a child? Can you identify specific characteristics that would best describe your behavior? How would you describe your work ethic? REFLECTIONS Every individual is a unique blend of talent, skills and experiences. Character traits can be acquired or learned over the course of our childhood, education and careers. These character traits can contribute to success, reduce risk and be used to enhance the environment around us. In some cases conflicts may arise as a result of different character traits. For example, one person may have experience shaped by previous achievements or errors that have not been experienced by another, creating significantly different perspectives. In some cases the disparity may be related to work habits or personality traits that were learned as child and not easily changed or influenced in the work environment. These conflicts can be mitigated with a better understanding of the experience that shapes another's perspective. During the interview process it is the obligation of the interviewer and the individual being interviewed to determine how well the personal experience, knowledge and character match between the person and the position. This increases the potential for future success. If you reviewed the questions as a personal assessment, it can be a meaningful review to reflect on your contributions, motivation and impact on your environment. As a unique blend of talent, skills and experience, you have the opportunity to share something of yourself with those around you. In return, you have an amazing opportunity to continually develop your personal knowledge by learning from the unique experiences of those around you. What you do with these opportunities will shape your character and your potential for the future. ______________________________________________________ Words of Wisdom "All of us learn to write in the second grade. Most of us go on to greater things." - Bobby Knight "I have never met a man so ignorant that I couldn't learn something from him." - Galileo "It is of interest to note that while some dolphins are reported to have learned English -- up to fifty words used in correct context -- no human being has been reported to have learned dolphinese." - Carl Sagan

Starting a Business by: Vernon Anthony Johnson

Many people today are looking to own and run their own business. To do that they mainly have three main choices. 1. Buy a franchise 2. Start from scratch to develop there own type of business. 3. Buy an existing business. When talking about capital to start or buy a conventional business we are not talking peanuts here; all these types of businesses will most likely require a substantial sum, perhaps in the hundreds of thousands of dollars. They will usually require staff so suitable computer expertise for accounts and wagers and also people skills in the workplace are required. There are always some problems with staff which can cause difficulties. In a conventional business you will require premises. If you have bought an existing business then probably rates and maintenance are your two main expenses with the existing building bought with the business. If you need to rent a premise then you may require a refit for your purposes which may cost tens of thousands of dollars. This would depend on the type of business which may require certain expensive machine or electronic devices which could be various and very expensive. Then you would need computers and office furniture in varying quantities. All quite expensive items. However you look at it there are considerable costs involved when starting a business some of which will be ongoing. i.e. interest on the loan, staff wages and rent etc. If it comes to the worst and it all goes belly up look at what you might lose? The equity which was used to finance the loan - most likely the property you live in because you couldn’t pay off the bank overdraft. The fixtures and fittings which you purchased which now would be of use to you and any equipment you purchased which may have to be sold invariably at a loss. So you sold everything to try and pay off your debt but that wasn’t enough so you have to leave the home you loved and look for rented accommodation. Then many years later you might crawl back to where you were before the time of the crash. The statistics for new conventional type business success are not good. In a conventional business if you need advice you usually have to pay for it although with a franchise some is available free. With a franchise I understand it does not usually include business mentoring. So if it’s new to you, you may have to pay for that help. In MLM home based business with a good company the marketing help comes as part of the deal. Why you may ask? Well because the MLM I am recommending is structured so that the person who does the recruiting also helps the people they recruit. In making them successful they all financially benefit. This team building is the essence of success in MLM marketing and people who have done this for a few years reap large rewards without having taken a huge gamble to raise equity. So if we look an MLM business which costs less than $2000 initially and potentially enables you to earn hundreds of thousands of dollars a few years down the track why wouldn’t that be much more attractive to you than risking your house? There is the company which excels in all respects and is ideal for MLM people: ? It is debt free ? Publicly listed on the NASDAQ ? Achieved 1.5 billion turnover in the first five years ? Is a global business operating in ten countries and six more 2007. ? Ranked number 5 in the 200 Best Small companies by FORBES in the US. If we summarise the benefits then we are talking about a business which: 1. Does not require a large amount of capital 2. Does not require you to hold stock. 3. Does not require staff. 4. Does not require you to rent or buy expensive premises because you can work from home perhaps from one room set aside as your office. 5. Enables you to make an income relative to your efforts which could be in the six figure bracket after a few years. 6. Does not confine you to office hours - you can work at a time convenient to you and your family. 7. Will still function once established without loss of income if you decide to take a long holiday. Why then would anyone wanting to start a business not want to take the least expensive option? The MLM choice comes without all the financial risk and headaches. You can have the same earning potential as the conventional business with total support as part of the deal. For more information, contact Vernon Johnson 11/134 Hill Road, Runcorn, Brisbane 4113 Australia, biohealth@aapt.net.au 2. Does not require you to hold stock. 3. Does not require staff. 4. Does not require you to rent or buy expensive premises because you can work from home perhaps from one room set aside as your office. 5. Enables you to make an income relative to your efforts which could be in the six figure bracket after a few years. 6. Does not confine you to office hours - you can work at a time convenient to you and your family. 7. Will still function once established without loss of income if you decide to take a long holiday. Why then would anyone wanting to start a business not want to take the least expensive option? The MLM choice comes without all the financial risk and headaches. You can have the same earning potential as the conventional business with total support as part of the deal. For more information, contact Vernon Johnson 11/134 Hill Road, Runcorn, Brisbane 4113 Australia, biohealth@aapt.net.au

Getting the Most Return from Your Sales Time Investment (ROI) by: Joe Leech

Let's face it: you are probably working for far less than you need to. And the sad thing is, you may not even be aware of it or the options you have! As of now, we're going to change that for you, and possibly share with you not only a thought but a vehicle that can change your financial life. We are going to show you how to get much more out of your sales time investment. This probably applies more to the part time, home based business person than the professional...but we have seen, met, and talked with professionals who really are under- valuing their return on time investment. I know.. we are using that "time investment" word alot all ready. But you MUST consider it just as you do a cash or money investment. In fact, it's even more important because once spent or invested, you can't ever get that particular moment or minute back. It's gone. You can always invest more money, but you only have so much irreplaceable time. Your sales time investment is one of the most precious ones you can ever make. As we look at business models, we find on one end, the model that proposes high volume but low profit per sale. Walmart has certainly shown this works, and many, many, many supermarkets work this same way. It will work if you have the ability to create large volumes of sales. The question is: Do you. If you are a individual sales rep or a small business, just how much of an opportunity do you have to create really large volumes. The appeal to the small business person is to do this by creating some type of a multi-level (also and probably incorrectly referred to as a pyramid) sales organization. In the ideal world, IF you can do this, you can create volume. But this could take years to accomplish, and still never guarantee any income or security because (1)The company behind it could go out of business, be taken over.. or any number of things, (2) The pay plan could change, or (3) The group suddenly dissolve, particularly if or when a heavy hitter or group leader decides to switch to another business and takes his distributors or sales force with him. Did you make a good sales time investment if you chose this model? Of course you still have the ability to sell the product or service yourself, but (1) Can you do volume, and (2) Is the profit per personal sale worth your time? The second business model, at the other end of the spectrum, is one that provides a relatively high profit or earning per sale. Sometimes we think of real estate people and car sales people in this category, as well as sales people of specialized capital equipment. But that's not the majority of us. The downside here is that if we are thinking about selling a high ticket/high profit item, we have to ask (1) Is there a large market and prospect base? and if we are thinking in terms of an ability for a part time person--possibly a "stay at home mom", can this high ticket, high profit product or service be first mastered in terms of the technology, and second, is the customer prospect base readily accessible? In most cases, the answer to those two questions is "no, not available". But if it is or was, then here's a fact that can be virtually carved in stone: IT TAKES NO MORE TIME OR SKILLS TO SELL THE HIGH PROFIT PACKAGE THAN IT DOES TO SELL THE MASS PRODUCT WITH ONLY PENNIES OR DIMES IN PROFIT! Think about that! This is ALL relative to your sales time investment, and once more: It's the MOST IMPORTANT investment y ou have to make. Ask yourself: "Am I working for pennies or dimes when instead with the right vehicle I could be working for dollars?" If the answer is yes, and this is so true of particularly home based business entrepreneurs who are involved in sale of nutritional supplements, skin care, fad gadgets, etc., then ask yourself, "Am I doing this because I want to earn a nice income, and do it as quickly as possible... or am I kidding myself about that goal and I just want to get products wholesale or discounted and have some fun?" Nothing wrong with that, by the way, if you have an hones assessment of what you are doing and why. But..... If your goal is in the area of $4000-$5000 a month or more, and you also don't want to spend all your waking hours "working your business", then it's time to change. As your article writer, I can tell you this is an article written from the school of hard knocks and one that really had us so emotionally involved with the businesses. Rah rah rah; recognition, pins, etc. Amway. Free Life. Primerica. Herbal Life. Been there, done that. Made some money? Yes, but far, far, far less than in other options. And that's just the part time side of things we did to supplement our "real" job. Made some money, but had no security, and worked for far less than we could have been doing. Plus we just sold our time for money there. No residual income.. but that's the subject for another article. We hope this has helped you focus some thinking and our resource block will point you to one tool that will let you change your life.

Credit Card Fee Increases by: Gary Foreman

This month on our two credit card statements are notices informing us that as of Oct. 1st we may be charged "more than two" late fees or over the limit fees" per month. What's going on? Gwen
It's estimated that Americans charged $1.8 trillion in 2005 on the 690 million credit cards outstanding. According to a Government Accountability Office study released in September, 2006, 13% of credit card users were assessed over-limit fees and 35% were assessed late fees in 2005. So Gwen has a lot of company.
Let's try to do three things. First, understand what these fees are. Next, see how fees are changing. And, finally, what Gwen can do to keep from being hurt.
Credit cards have always had fees. Some, like for a late payment, are understandable. Others came along as credit cards took on new capabilities. Think cash advance and balance transfer fees. Still others, like over-limit fees, seem like they shouldn't be possible. You would think that they wouldn't allow you to borrow more than your limit.
There are also 'penalty interest rates'. If you're late with a payment or go over your credit limit you could see your rate bumped to 30% or more.
The 2006 GAO study looked at fees and penalties. It said that not only were fees increasing, but the credit card companies were doing a lousy job of informing consumers about those fees.
The credit card companies are obligated to tell you about any fees or penalties and how they're triggered. Some fees, like paying your credit card bill by phone, are sometimes not clearly disclosed. What Gwen received with her statement was a notice of a change in how fees would be charged. And, as long as she's notified they can get by with almost anything.
Late fees have nearly tripled in the last 11 years. And many cards have adopted a 'universal default clause' that says a late payment on any card will trigger the penalty interest rate.
Credit card companies say that the higher interest rates and fees are appropriate based on risk factors. If it weren't for the higher fees, they claim that they wouldn't be able to offer credit to riskier consumers.
In fairness, the GAO's survey found that (at least among 6 of the largest card issuers) 80% of accounts paid interest rates of less than 20%. So the vast majority of card users are not paying penalty rates.
But the study also found that the disclosures were written well above the eighth grade reading level and (surprise!) featured small print. They recommended that the Federal Reserve Board revise rules on credit card disclosures.
Now that we understand what's going on we can try to help Gwen avoid problems. The first thing is to recognize that the card issuers get to make most of the rules. And, whether those rules are fair or not isn't relevant. The best she can do is to avoid getting hurt by those rules.
Get familiar with each account. The only way to know exactly what's allowed is to read and understand the "Card Member Agreement." Tough duty. But necessary.
Watch out for unexpected fees. Like for balance transfers or increasing your credit limit. Know what could trigger fees or penalty rates.
Know exactly when your payment is due. Keep a list of due dates for your credit card accounts. If you don't get the bill, it's your responsibility to contact the company and still make a timely payment.
If possible, the best thing to do is to join nearly half of the cardholders who paid little or no interest. That's because they do not carry a balance.
Obviously, for many people that's not immediately possible. Then it's important to send in your payment as soon as possible. Being seven days early is better than being one day late.
If you find it difficult to get your payment in on time, you might want to authorize the credit card company to automatically debit your checking account for the minimum payment each month. You'll probably pay for the service, but that way the payment can't be late.
Talk to your card issuer. If your due date falls at a bad time of the month, they'll move it.
If Gwen is near or over the limit on any card, she should try to shift part of the debt to a different card. Some fees are even being assessed when an account is merely getting too close to the limit. Your best bet is to keep balances to less than half the available credit.
Although the higher late fees are infuriating, they do minimal damage. The real problem is in the universal default clause. Most credit card accounts now have a universal default clause.
Suppose your rate went from 15% to 30% on every open credit account. For every $1,000 you owe, an extra $150 interest would be charged each year. So if you're the type of person carrying a $10,000 balance, that one late payment could cost you $1,500 per year. For as long as you have the balance!
Gwen is right to pay close attention to her credit card accounts. With newer fees and penalty rates in place, it becomes more important to manage your credit. In fact, it's critical to your financial wellbeing. _______________
Gary Foreman is a former financial planner who currently edits The Dollar Stretcher website . If you'd like to stretch your day or your dollar visit today! You'll find hundreds of articles to help you "live better...for less".
About The Author
Gary Foreman is a former financial planner who currently edits The Dollar Stretcher website . If you'd like to stretch your day or your dollar visit today! You'll find hundreds of articles to help you "live better...for less".

Getting the Most Return from Your Sales Time Investment (ROI) by: Joe Leech

Let's face it: you are probably working for far less than you need to. And the sad thing is, you may not even be aware of it or the options you have! As of now, we're going to change that for you, and possibly share with you not only a thought but a vehicle that can change your financial life.
We are going to show you how to get much more out of your sales time investment.
This probably applies more to the part time, home based business person than the professional...but we have seen, met, and talked with professionals who really are under- valuing their return on time investment. I know.. we are using that "time investment" word alot all ready. But you MUST consider it just as you do a cash or money investment.
In fact, it's even more important because once spent or invested, you can't ever get that particular moment or minute back. It's gone. You can always invest more money, but you only have so much irreplaceable time. Your sales time investment is one of the most precious ones you can ever make.
As we look at business models, we find on one end, the model that proposes high volume but low profit per sale.
Walmart has certainly shown this works, and many, many, many supermarkets work this same way. It will work if you have the ability to create large volumes of sales. The question is: Do you. If you are a individual sales rep or a small business, just how much of an opportunity do you have to create really large volumes. The appeal to the small business person is to do this by creating some type of a multi-level (also and probably incorrectly referred to as a pyramid) sales organization. In the ideal world, IF you can do this, you can create volume. But this could take years to accomplish, and still never guarantee any income or security because (1)The company behind it could go out of business, be taken over.. or any number of things, (2) The pay plan could change, or (3) The group suddenly dissolve, particularly if or when a heavy hitter or group leader decides to switch to another business and takes his distributors or sales force with him. Did you make a good sales time investment if you chose this model?
Of course you still have the ability to sell the product or service yourself, but (1) Can you do volume, and (2) Is the profit per personal sale worth your time?
The second business model, at the other end of the spectrum, is one that provides a relatively high profit or earning per sale. Sometimes we think of real estate people and car sales people in this category, as well as sales people of specialized capital equipment. But that's not the majority of us.
The downside here is that if we are thinking about selling a high ticket/high profit item, we have to ask (1) Is there a large market and prospect base? and if we are thinking in terms of an ability for a part time person--possibly a "stay at home mom", can this high ticket, high profit product or service be first mastered in terms of the technology, and second, is the customer prospect base readily accessible?
In most cases, the answer to those two questions is "no, not available".
But if it is or was, then here's a fact that can be virtually carved in stone:
IT TAKES NO MORE TIME OR SKILLS TO SELL THE HIGH PROFIT PACKAGE THAN IT DOES TO SELL THE MASS PRODUCT WITH ONLY PENNIES OR DIMES IN PROFIT!
Think about that! This is ALL relative to your sales time investment, and once more: It's the MOST IMPORTANT investment y ou have to make.
Ask yourself: "Am I working for pennies or dimes when instead with the right vehicle I could be working for dollars?"
If the answer is yes, and this is so true of particularly home based business entrepreneurs who are involved in sale of nutritional supplements, skin care, fad gadgets, etc., then ask yourself, "Am I doing this because I want to earn a nice income, and do it as quickly as possible... or am I kidding myself about that goal and I just want to get products wholesale or discounted and have some fun?"
Nothing wrong with that, by the way, if you have an hones assessment of what you are doing and why.
But..... If your goal is in the area of $4000-$5000 a month or more, and you also don't want to spend all your waking hours "working your business", then it's time to change.
As your article writer, I can tell you this is an article written from the school of hard knocks and one that really had us so emotionally involved with the businesses. Rah rah rah; recognition, pins, etc. Amway. Free Life. Primerica.
Herbal Life. Been there, done that. Made some money? Yes, but far, far, far less than in other options. And that's just the part time side of things we did to supplement our "real" job. Made some money, but had no security, and worked for far less than we could have been doing. Plus we just sold our time for money there. No residual income.. but that's the subject for another article.
We hope this has helped you focus some thinking and our resource block will point you to one tool that will let you change your life.
About The Author
Joe Leech has been involved in both conventional and home based businesses for over 40 years. He offers sound advice from his experience and at his website at http://www.wideworldinfo.com/abundant/opty.html he offers a way to do what he writes about.

Obsessions Of Successful Businesses by Naz Daud

There is a school of thought that almost one hundred per cent of businesses fail due to one main reason - the owner or management team. The highly successful have a fixation on three main things.
So this begs the question, "why do businesses fail?"
It is possible to hear a variety of reasons why the business has failed amongst conversations between friends in almost any pub in the country,e.g.the bank pulled the plug, the product wouldn't sell, couldn't keep the customers, a key customer refused to pay etc.
The real reason, however, is managerial incompetence - it is the management's job to look after the above, no one else's. It is common for many businesses to blame everyone else but themselves for the unfortunate situation.
Conversely, the majority of business successes tend to take full responsibility. They don't use victim language to describe their predicament - they watch, they decide and they take action.
So what are the three things that successful businesses focus on?
Strategy Marketing Teams
This does not suggest that other factors are ignored such as finance and product, but rather that these fields are isolated whilst the business makes sure it is good at the other stuff.
Business strategy
This is being aware of the external environment whilst forming your own plans of where you want to go. Part of this strategy may be deemed as the decision of where you want to be in one year, or three years and hence what needs to be done now.
Strategy may be seen as opportunity cost in economic terms, or trade-offs - you must decide what you want and what the consequences of that decision may be. It is not always possible to go for conflicting goals.
Strategic thinking is not easy but the clearer you are about what you are trying to do, the easier it becomes. Focus and simplicity breed success.
Marketing
A very misunderstood word in the business world; it is often misused, and given different meanings depending on the situation and our present mood.
Marketing may be deemed to be as seeing your business through customer's eyes. What problem does your product or service solve? Why should people buy from you? What benefits are you offering that your competitor does not?
In some cases, marketing is the same as communication. Marketing is about the selection of how and what you communicate to whom - the ultimate purpose of course is to win more of the business that you want.
Teams and people
Most businesses have people problems. It is a fact that as a business grows there will be additional pressures - to get more business, to do more work of a higher grade and inevitably - the pressure of working together which produces conflicts.
The raison d'etre of beginning many businesses is to get away from the traditionally organised organisations, with the irony being that most businesses require the very order and structure that they were designed to escape.
Thus successful teamwork requires the ability to motivate, lead and communicate effectively.
Often, the business's ultimate often seems to be about looking for the latest management fad and trying to use it to make the business better.
Good businesses focus on three basic things-teams and people, marketing, and strategy and planning. If these basics are not in place then the business will not be sustainable.
About the AuthorNaz Daud Business Franchise Opportunity Business Directory & Franchises Ireland Businesses

Breaking into Women's Golf Apparel with Style by Carolyn Schwaar

A fresh approach to club attire
Jennifer Glaspie launched Chicago-based Aphira golfware to create apparel for the social golfer who wants to stand out on the green, not fit into the club.
When novice golfer Jennifer Glaspie was kicked off the green at a Florida golf club for wearing a sleeveless, collarless sweater, she didn't know then that women's golf apparel would become her life's passion.
From the runway to the fairway
In 2000, Glaspie, a successful corporate business consultant at the prestigious Chicago-based firm of Baine & Co, started learning golf at the request of her boyfriend (now husband). But as her golf swing improved, this petite and style-savvy urbanite found her clothing options didn't.
"Golf apparel is so far behind the curve fashion-wise and the options for the fashion-conscious golfer are limited," she says. But it took a cool October morning with a tee time looming and "nothing to wear" that finally pressed Glaspie to action.
Convinced that there was great potential in a high-end line of women's golf clothing that was trendy and comfortable yet sophisticated, Glaspie put her career on hold, and put her Kellogg MBA to use developing a business plan to launch a chic line of women's golf apparel.
"I've always had a love of fashion, but I thought entering the competitive apparel industry would be just crazy," recalls the 32-year-old Michigan native. However, research showed that, although the apparel industry is cut-throat, high-end niches such as resort ware and specialized sports apparel, have their own, more accessible and less competitive market. "I found some fashion-forward lines that were doing well, but the market certainly wasn't saturated, so everything pointed to 'go,' " she says.
Glaspie and her tradition-bucking designer, Cassy Clark, set out to create golf apparel that was fun to wear, hip, and a little bit sexy, hoping against hope that they would have a hit. And they did.
Aphira debuted at the 2005 PGA Merchandise show in Florida. "There we were walking practically three miles back to our little booth past these huge corporate booths," recalls Glaspie. "We felt totally overwhelmed, but from the beginning, people started saying great things. One women said 'I love this line, this is my favorite line here out of 1,000 exhibitors. It felt promising. We felt really, really good."
The duo wrote dozens of orders at the show for their first line. And when their initial customers received their shipment and loved it, they began to think that they might just have something. "One client said people where buying it right out of the box before she could get it on the rack," says Glaspie.
Now in it's third year, Aphira is established in nearly 150 golf shops in the United States, Europe, and Asia. But success didn't come without some missteps.
"I thought we had to be really different when we first launched," recalls Glaspie. The debut line was sexy and edgy with closefitting tops and tennis-length skorts. "But we've toned that down a bit as we've gone on." The shift in style reflects the company's research into just who's buying their stylish line, which in many markets is actually retirees in there 50s and 60s.
"Nike and Addidas design sportswear for the athletic golfer," says Glaspie. "Our customer is more socialite than athlete. She doesn't play four-times a week, she plays with her girlfriends on the weekends, and she's someone who's always put together."
Like a lot of entrepreneurs, Glaspie is owner, marketer, sales rep and even model. "One time at a meeting with the proshop owner at the Ravinia Green Country Club I ran and put on a pair of shorts to show the client how they fit," says Glaspie. Every piece in the line is made in her size for product testing. "I need to try it all on. I swing a club and I walk around it in. I'm a golfer and I know the functionality that the garment needs to have."
The Aphira line is made entirely in America. The fabric is custom dyed and shipped to a factory on Chicago's north side for assembly.
For now, Aphira apparel is only available in golf stores, and that's just fine with Glaspie. "We need to stay focused on the golf market. We know every dollar invested will be a few dollars return in the golf market but it would take too much capitol to break into the larger apparel retail market."
Although you won't see Aphira in department stores, you can get a glimpse of it on the popular Golf Channel reality show The Big Break: Ladies Only, which will feature Aphira apparel on golfer Valeria Ochoa this spring. And the new Hollywood film "Who's Your Caddy?," billed as "an urban take on the comedy golf movie" features a sexy character wearing Aphira throughout the film.
The chancy career hop from guiding the strategic growth of Fortune-500 companies to making golf skorts has definitely paid off, says Glaspie. "It has just been a whirlwind but I'm definitely having fun. In consulting I had peeks and valley and good weeks and bad weeks, but when it's your own company your highs are really high and lows are really low. Everything takes on so much more importance when it's your own."
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Callout or boxed item: Aphira: a-fear-ah. A word invented by golfwear entrepreneur Jennifer Glaspie taken from the Latin word ephiro, meaning to exult.
Sidebar: Can fashion attract more women to golf? Although it may sound shallow to say more fashionable golfware will get more women to play golf, Jennifer Glaspie, owner of Aphira women's golf apparel in Chicago, says it's absolutely true. "I have a friend who I asked to take some golf lessons with me but she said 'I play tennis because the cloths are cuter.' Having more fashion in this sport does change its image."
Just take a look at internationally televised women's golf tournaments like the Lexus Cup where teams lead by Annika Sorenstam and Grace Park ditched the masculine polo top for trendy designer golfwear to project a fun and fashionable image for women's golf.
And younger players, such as tank-top sporting Michelle Wie, are bringing their young attitudes and free spirit with them to the green -- and this includes their fashion statements.
"There's a lot more younger people playing the sport," says Glaspie. And with youth, she says, comes new ideas that buck the traditions and set a new style.
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About the AuthorCarolyn Schwaar is a Chicago-based freelance writer and editor specializing in business, technology, and communications. For more, visit http://www.carolynschwaar.com/

Data Entry Outsourcing eases handling of your business by Allies Harbor

Running a business of any kind successfully is not an easy task and as a business owner one must put in lots of effort in this direction. There are different aspects of a business which one needs to monitor constantly and see how the business is doing actually. Data entry is one such aspects of any business that needs to be handled properly for making your business a successful venture. There are many other aspects and each component has its own importance, so being a business owner it is your prerogative to decide which ones are on priority for your business. Often it is not possible on the part of the business owner to take care of all aspects of business as he does not have professional qualifications to do so. So in such a scenario outsourcing is an option that can be adopted to take care of this.
Data Entry Outsourcing is one aspect of a business which is undertaken on a huge scale by several companies. Global statistics on outsourcing indicate that the process is one the rise and many companies have been immensely benefited by this. One of the main reasons why this has become such a common phenomenon is the fact that the services are available from highly qualified professionals at a very low cost. Data entry services provided by outsourcing companies offer various services under this. So it does not matter what type of data entry services you require, everything will be taken care of by these outsourcing service providing companies.
Having records of a business in the correct manner is very important if one wants to make their business a success. The need for data entry in organizations is on a daily basis and if done on time, one can actually manage all the records in just the correct way. So it may be that you may require the services of the professionals who work for data entry outsourcing daily, weekly or on a monthly basis. This depends on the kind of business you are running and you have to decide what type of data entry outsourcings services you want to have for your business. Today maintaining all the records of company through data entry services manually is apse. In fact with the huge amount of data and other information which any business possesses this is not at all possible.
While you are seeking an outsourcing company to help you out in taking care of this work, you have to be careful about certain aspects. You will be handing over certain important elements of your business to an outside party to a third party, so you need to find out the credentials of the company. Make sure that you get the work done from a reputed company and do not fall prey to the hands of any fake company that are operating in the market. The business is your and it's your responsibility to ensure that you hire the services of the best firm to handle your data entry outsourcing work.
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Workplace Communication In Business by Naz Daud

The method by which communications are dealt with and messages are exchanged within the business is crucial to the efficiency of the organisation.
If communication is faulty, late, and unclear or office politics are allowed to get in the way, then the ultimate loser is the business.
There is an old adage that I have come across many times in reception areas across the country while waiting for my appointment to show. It reads something like "This person can sack everyone in the organisation right up to the chairman - It is the customer and he or she must be looked after at all costs."
The final communication to the customer initially starts from the boardroom, leading down via managers to the employees who in turn are responsible for communicating with the customer.
Thus, breaking this down further, the directors must be able to communicate effectively with each other in the boardroom so that the strategy can implemented and passed to the respective people in the organisation.
But for this to happen, there has to be an understanding of roles within the board and then an effective way of arriving at policy. This may sound obvious but some small businesses contain directors that either arrived by default or due to long service. The hard fact of the matter is that a few directors don't know what they are doing or are supposed to do.
Next, each person in the boardroom must be an effective communicator and willing to make allowances for personal traits or the communication within the boardroom itself, never mind the business as a whole, is liable to break down.
The same goes for communication of the policy decisions from the managers to their staff, as there will undoubtedly be, in my experience, resistance to any form of change.
People don't like change and will often try and opt out. Any new policy should be communicated clearly and the reason for change laid out so that they make logical sense.
Then, on the staff level, one may encounter office politics or empire building, and this again can and does handicap businesses and the communication within.
So what communicative measures are available to help against this? Again, in my experience, the use of motivational and bridge-building techniques are invaluable. Everybody can have a say if need be prior to the directors taking the decision and this creates a feeling of being part of a team. This is where consultation prior to any major decision being taken is invaluable.
This ultimately has the effect of producing a more efficient organisation and projects a much better corporate image within the business and ultimately to the outside world. This in turn will lead to a feeling of confidence among customers and may even help to increase the order level or the total spend involved.
Word of mouth in the outside world will then take its natural course and the company's market placing should be improved.
With efficient, successful communications existing in a business, this leaves the directors free to focus on the other two main areas necessary for business growth - strategy and marketing.
Focus on these two other areas will theoretically lead to more sales, greater return on capital employed, which in turn can lead to improved profitability if the marketing is carried out properly and eventually, wage increase capability.
This in turn, again hypothetically, should produce a greater feeling of togetherness and ease communication difficulties through increased trust as the people in the organisation benefit from the increased productivity.
About the AuthorNaz Daud Business Franchise Opportunity Business Directory & Franchises Ireland Businesses

Learn Forex Trading to Expand Opportunities

Learn Forex Trading to Expand Opportunities
Capitalize on the opportunity to learn forex trading so you can begin the process of branching your portfolio out of domestic stocks and into the global market. Any financial advisor worth his weight will tell you that it is important to diversify your investment portfolio and this is by far the largest volume market in the world. Daily, it does nearly four times the volume of trading than the New York Stock Exchange does. Anyone who holds a basic understanding of how money is converted and exchange rates work can learn forex trading. The sale or trading of currency is at the heart of what forex is. Using one currency to buy another means that your counterpart is using their currency to buy yours. As exchange rates fluctuate and the economies of nations surge and recede, these investments in cash behave in value very much like a traditional stock. As with any new venture, you will need to master the vocabulary that is an inherent part of forex. When you begin to learn forex trading you will be introduced to terms like pip, spread, cross, base currency and trade currency. Foreign exchange trading does have some unique terminologies. While they may be new to you, you will learn them quickly because they describe certain parts of forex quotes that you will need to understand in order to trade. There are quite a few resources available to those who wish to learn forex trading. The reliability of internet access has opened the door to online forex trading, which means that more investors have the ability to participate in trading activity. Since the foreign exchange trade is considered a spot market, the ready availability of internet access is crucial. Business is done on the "spot," thus the name. You can capitalize on many benefits when you learn forex trading. The availability of a 24-hour a day market is one. Since forex involves the trade of currency at banks across the globe, the market never closes. The market is also remarkably liquid, meaning that you will never have trouble finding trading partners. Since most of your trading partners are banks and the medium is cash, you will never be at a loss for customers. Another benefit is the lack of commissions. Since you make the trades on your own, you don't have to spend part of your profit on brokerage commission fees. Taking the time to learn forex trading opens one more investment door for you. As you continue to realize the importance of diversifying your investment portfolio, it may be a good idea to begin looking at what kinds of opportunities are available to you in foreign exchange trading. You may be surprised to see who else is capitalizing on this market and just how easy it is.

How to Find a Broker for the FOREX Trading Market

How to Find a Broker for the FOREX Trading Market
It's not always easy to know what to look for in a broker in any market, much less a market as complex as the FOREX. But, if you want to trade in FOREX you need a broker. While it might be tempting to simply ask the brokers what they can do for you, you can't always depend on them to give you a straight answer. Here are a few things to consider when choosing your broker. You will want a broker that has low spreads. Since FOREX brokers don't charge a commission, this difference is how they make money. Low spreads will save you money. Along with this, you should be looking for a broker attached to a reputable institution. Unlike equity brokers, FOREX brokers are usually attached to large banks or lending institutions. The broker should also be registered with the Futures Commission Merchant (FCM) as well as regulated by the Commodity Futures Trading Commission (CFTC). Once you've narrowed your choices down to brokers that won't cost you too much, and that are reputable, consider the trading tools that they are offering you. FOREX brokers have many different trading platforms for their clients, just like brokers in other markets. These often show real-time charts, technical analysis tools, real-time news and data, and may even offer support for the various trading systems. Before you commit to any one broker, request free trials of their tools. Brokers generally provide technical as well as fundamental commentaries, economic calendars, and other research to help you make good trades. Shop around until you find a broker who will give you what you need to succeed. The next item that you will need to evaluate carefully is the number of leverage options your potential broker has. Leverage is a necessity in FOREX trading because the price deviations in the currencies are set at fractions of a cent. Leverage is expressed as a ratio between the total capital that is available to be traded and your actual capital. For example, when you have a ratio of 100:1, your broker will lend you $100 for every $1 of actual capital you have. Many brokerage firms will offer you as much as 250:1. If you have low levels of capital you will need a brokerage with high levels of leverage to make reasonable profits. If capital is not a problem, any broker that has a wide variety of leverage options would be a good choice for you. A variety of options will let you vary the amount of risk you choose to take. For example, less leverage (and therefore less risk) may be preferable if you are dealing with highly volatile (exotic) currency pairs. Along with different levels of leverage, look for brokers that offer different types of accounts. Many brokers will offer you two or more types. The smallest account is known as a mini account and it requires you to trade with a minimum of around $300. The mini account also generally offers a high amount of leverage. The standard account allows you to trade at a variety of different leverages, but it requires minimum initial capital of $2,000. And finally, there are premium accounts, which often require significant amounts of capital. They also generally have different levels of leverage available to the traders who use them, and often offer additional tools and services. You will need to make sure that the broker you choose has the right leverage, tools, and services for the amount of capital that you are able to work with.

A Look at Online Forex Brokers

A Look at Online Forex Brokers
An online forex broker is a firm that facilitates retail trading using Internet technologies. Global Forex Trading (GFT), one of the popular online forex brokers. It provides retail traders with a free demo trading account, allows users to open a live account, gives live help, provides software called DealBook FX 2, and allows viewing of account documents. (DealBook FX 2 can be downloaded for the demo trading account).Gain Capital Group's Online Forex offers 200:1 leverage. In some cases, the total return on investment is higher due to leverage. For example, with $1000 cash in a margin account, the investor can control up to $200,000 in notional value. Of course, trading on leverage magnifies both the investor's profits and losses. GCI Financial Ltd. offers commission-free online trading in forex. GCI offers Internet trading software, fast and efficient execution, and 0.5% margin requirements. This broker offers USD or Euro denominated trading accounts. The spreads are 3 pips in EUR/USD and USD/JPY, and are 4 to 5 pips for other major commissions. Clients can hedge by opening positions in the same currency in opposite directions. Risk to the investor is limited to the deposited funds. Market analysis and research, real-time charts, and forex trading signals are available at no charge.ACM, part of the REFCO group, offers 3 pip spreads on all major currencies, which works out to between 0.02% and 0.03% on the dollar value. They also offer commission-free trading, and forex trading with a 1% margin, which means that a trader can control $1,000,000 with $10,000 in his account.There are many online forex brokers that offer free demo accounts for potential forex traders to practice trading. It is only a matter of registering and starting demo trading to get a feel for forex trading. In addition, at most sites, traders can find free forex news to assist them with their trade strategies.

Why Trade the Forex Market

Why Trade the Forex Market
Trading the Forex market has become very popular in the last years. Technology advances like the internet have spawned this new trading craze, where anyone with a secure internet connection prepared to undertake a small amount of training can engage in trading foreign exchange on the forex market. Before the Internet, only corporations and wealthy individuals could trade currencies in the Forex market through the use of proprietary trading systems of banks, often through private banking. The foreign exchange market is one of the largest in the world if not the largest. It is more than 3 times larger than the stock/equities market and more than 5 times bigger than futures, give Forex traders nearly unlimited liquidity and flexibility. It has been estimated that approximately $2 trillion USD of currency exchanges hands each and every day. The foreign currency markets are very liquid because worldwide, the most powerful international banks provide a market around the clock. The Global foreign exchange market daily averages of the Bank for International Settlements in 1998 were $660 billion and now have increased to $2.3 trillion (2006). There is really no insider information in the forex markets. Since exchange rates are calculated by actual money flow as well as by the outlook of financial flowage, which takes into consideration such things as inflation, GDP changes, trade and budget deficits and surpluses, as well as interest rates, it would be difficult to come across so-called 'insider information'. All of these factors are self-evident, though different projected outlooks may prove more accurate than others. There is less room for market manipulation is there may be for thinly traded stocks. A equally important property of forex market is the fact that trends in forex market last longer and are more clearly defined than in any other trading instrument. Analysis of forex market charts also often displays identifiable chart patterns of price movement and once a pattern is established, the trend or pattern becomes the most probable course of future price action until the market changes. Because the FOREX market is so huge, there is no possibility of someone controlling the market price for a long time. When there are a lot of buyers and a lot of sellers, you can expect to buy or sell at a price that is very close to the last market price. The market maker in the forex market is usually a bank or brokerage company that provides during the trading day a bid and ask price. Example of forex market makers include CMS Forex, GFS, Forex, Forex Capital Markets (FXCM), and Global Forex Trading, all of which are regulated by the Commodity Futures Trading Commission (CFTC) of the USA. Brokers offer clients access to online FX trading system, platform or software that can make it easy and fun to trade the market and usually there are usually no commission charges. With these trading systems and platforms you can trade the forex markets for free using the same state-of-the-art software packages that professional Forex traders use to help them make real-time, live currency trades. So individuals with a few hundreds of their own currency hope to buy and sell something for a smiling profit. Speculators trade to make a profit by purchasing one currency and simultaneously selling another. In conclusion I think the FOREX market is one of the best investment opportunities around today. There are great opportunities in the FOREX market because of the constant movements of the exchange rates. There is no surprise that more and more traders are turning to the foreign currency market to take advantage of the fluctuation in exchange currency rates as a way to speculate and trade to increase their capital and wealth.