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    Unexpected wisdom from a teenager

     

    If you have ever traveled across country by train, you know that meals are served with community seating. That means you can meet new people with every meal. In late March I took the train home (to Southern California) from an engagement in Massachusetts. One evening my meal companions consisted of a very nice couple and a teenager. At first, the teenager had little to say. (Parents, does this sound familiar?) But through my questions he told us that he was 16, wanted to be an attorney, and could bench press 325 pounds. Then I asked him, "What three recommendations would you give someone in 8th grade about high school?" Without hesitation he gave an answer that all of us can use. Here are his recommendations, with my comments on how they apply to leaders: 1) Watch who you hang out with. Certainly, your friends define who you are. Leaders know this and thus build organizations that consist of people who reinforce productive work, discourage destructive behavior, and provide a variety of complementary skills. A wise leader will direct a person's development by placing the person with colleagues who have beneficial characteristics. Similarly, this explains why some leaders work with a coach who provides a contrast to their preferred style. You can also manage your personal growth by associating with people who have achieved what you aspire to have. For example, one entrepreneur left a mastermind group of millionaires to join a group of multimillionaires. 2) The next four years are very important. Actually, every "next four years" will have a significant impact on you. Your actions and decisions during that time will determine everything that follows. And the key to making the most of time is having a vision, setting goals, and making plans. Most leaders work with a business plan. And some have a business plan for their career and other important aspects of their life. 3) It can be a lot of fun. Yes, the next four years and the rest of your life can be a lot of fun. If you choose to make it so. My train ride serves as an excellent example of this. When I bought my train ticket I decided that I was going to enjoy the ride. And I can report that I had a ball. In fact, I told everyone that I met on the train that I was the happiest guy on the train. Now, let's be realistic about this. A train offers some challenges. For example, the train rocks from side to side as it rattles along over old track, switches, and rail crossings. The train blows a whistle, which you can hear all day (and night) long. The train provides limited space. I spent the first night in coach, curled up on my seat and the suitcases that I stacked on the floor between my seat and the one in front. My sleeper (for the next two nights) consisted of a 3.25 feet wide, 7 ft. long, 6.5 ft high space. And yet I was the happiest guy on the train. Because I decided to enjoy the ride. Similarly, we can enjoy our ride through life if we decide to enjoy it. And leaders exert a tremendous influence on the culture around them by the energy they radiate. If you act like you're enjoying the ride, others will enjoy the ride, too. And that leads to greater productivity.

         
    Unstoppable rapport in 30 seconds

     

    Stop a moment and ask yourself this: has a new employee ever passed you up for a promotion? How can it be, you query yourself, that the new upstart was promoted when everyone else in the company tells you that you deserved the promotion? The new employee did not have your track record for success, did not have the necessary credentials, and wasn't even close to matching your company loyalty! Frustrated with the lack of answers, you attempt to obtain answers from management, which only ignites more frustration because they cannot explain it logically. Perturbed and discouraged you resort back to your old patterns of long work hours and hard work, in the hopes that one day all your hard work will be noticed, while you watch the new employee move up the company ladder with tremendous ease. What do these "fast-tracking" employees have that lands them promotions, allows them to negotiate obstacles with ease, and charms the boss into giving them whatever they want? Do these employees hypnotize their supervisors by waving a watch in front of his or her eyes? Well, in a way...yes! A few employees have learned subtle communication methods that cause their supervisors to be instantly suggestible and receptive to covet influence. The subtle communication skills that fast-tracking employees use don't influence their supervisors on the conscious level as much as on the unconscious level. Need proof that fast-tracking employees can influence their supervisors on the unconscious level? Here's how to do it. When the opportunity arises, simply ask a supervisor who has just given an employee a promotion, a raise, or special role within the company his rationale for the decision. If the supervisor can give you three good reasons for his decision, he probably has not been influenced at the unconscious level; this boss did his homework truly evaluated the various candidates for the job. However, if he cannot give you bona fide reasons for his decision or if he gets mad at you for questioning his judgment-it is likely that he had been unconsciously influenced by the charisma of the lucky person he had just promoted. Now ask yourself: do you already want to learn what these fast-tracking employees know about unconscious communication? Are you desirous to learn the secrets of charm and charisma that can get you that job or promotion? Then check into Neuro Linguistic Programming (NLP), developed by John Grinder and Richard Bandler. They combined different theories of language and neurology to form methods that have the potential to influence people at the unconscious level. I have summarized a few of the many amazing techniques that NLP has developed. 1.) Weaving Rapport by Mirroring: Building rapport with your supervisor is more than talking about the same movie you saw over the weekend. Rapport building includes matching all your supervisor's body posture, facial expressions, energy levels, humor, styles, words, and gestures. It can also include matching breathing, inflection voice tone, and language patterns. At the advanced levels it also includes matching values, beliefs, and objectives. Matching is not mimicking your supervisor's behavior, matching involves adopting similar patterns into your own style so that they appear natural versus mimicked. One of NLP's theories is that the mind and body are all part of the same system; therefore, if you match your supervisor's verbal and non-verbal communication patterns, you are matching his or her thinking patterns-the highest form of rapport that you can establish. Rapport is extremely important in business because business decisions are rarely reached on the value of technical merit alone; more often than not, favorable business decisions are developed between those who have developed a great deal of rapport. Remember this overriding rule: we like those who are like ourselves. We trust those who exude similarity with ourselves. The cliche "opposite's attract" has never been farther than the truth. Let me prove it to you. Think of your best friend. Call to mind his many qualities. Examine them well. Give yourself a minute to do this. Done? What have you observed? Of course!!! Your best friend shares many of your habits, mannerisms, dreams, ambitions...! Now you have the secret of getting along with anybody (not just your best friend!) Build rapport, now, by creating an apparent similarity between you and the other person. It's the secret called Mirroring. 2.) Advanced Rapport: Want to take that charisma the extra mile? Let's talk about the arcane art of ANCHORING. Anchoring involves placing a positive feeling into your supervisor's memory about you. By definition anchoring is the association of something seen, touched, heard, smelled, or tasted, with a specific memory or sensation. When you hear an old love song you and your 1st girlfriend shared, strong emotions come rushing back... even though a decade may have elapsed. This is anchoring: you anchored that specific melody with fond old memories of love. Now let's bring this to the business environment. We all have people in our workplaces that cause us to cringe each time we see them or come into contact with them in meetings. People who cause us to wince have created a negative emotion anchored in our unconscious memory. As a fast-tracking employee, you cannot afford to create a negative emotion in your supervisor's memory. It is your goal to anchor positive emotions of yourself in their minds. In other words, you want your supervisor to associate you with favorable emotions. In order to anchor, you simply use two very special gestures when you converse with people: gesturing away from yourself, and gesturing towards yourself. Gesture away from yourself whenever you mention something negative. Examples would be a death in the family, a salary cut, losing a job. On the other hand, whenever you discuss something positive, gesture towards your chest. For instance, you may be discussing a recent golfing victory of your supervisor, and as you praise his achievement, you subtly gesture towards your chest. In both cases of gesturing away and towards yourself, ensure that every movement is natural and spontaneous. Here's how it works. On the subconscious level, the mind hears something positive and sees the subtle self-pointing gestures. It then creates an association of positive emotion with you. Over time the positive emotions associated with you will be anchored into your supervisor's unconscious memory. Your supervisor will think you're such a swell guy to be with and won't even know why. Try this with strangers and observe how quickly you draw them in! The aforementioned methods should help you to hypnotize your supervisor without using a watch on a string. If you would like to know more about NLP and unconscious communication, I recommend joining our forum (it's free) and reading up on all the articles!

         
    Use this formula to have pleasurable and safe internet access

     

    If you are running or plan to run a business, there are two big things you should consider about your internet access. 1. The safety of your internet access and, 2. The speed of your internet access Safety You need to apply the same care to your internet access as you do the rest of your business. In fact, if poorly done your days can become very frustrating and your business and reputation can become badly tarnished. Why do I sound so alarmist about this? Because I see so many people take a careless attitude about their internet access and leave their computers open to viruses and Trojan horses. This is a whole major subject that I will address on my website and in articles but in short, here is what can happen to you if you do not take the right actions: * Hackers can steal your financial information. * Hackers can steal your identity * Hackers can use your computer to launch viruses and Trojan horses. * Hackers can use your computer to spam others * Your ISP can shut you down * You can become black listed on the internet To minimize the risk of this happening, you need to have a good firewall and antivirus program. You should also take responsibility for maintaining your firewall and for running your anti-virus program at least once a week - preferably more often. If you do these things your computer should be pretty safe. Speed The next thing you will need is high speed internet access. By high speed internet access, I mean, in the following order of importance: cable, DSL, or satellite. Forget dial-up unless you are on the road and there is absolutely no availability of the other three because it is generally too slow. "But I live where there is no cable or DSL and satellite is expensive," you say. "My dial-up provider says they have accelerators that give me five times the speed." To be frank, that is flim-flam. They are using a compression technique that is too slow. If you can't get cable or DSL, a decent satellite internet access will probably cost you about $90.00 a month. Consider that a cost of living where you want to live. If you want to be in business, you need to do the things that keep you in business. The primary reason that you will need high speed internet access is you are going to need to make changes to your web pages. If you have dial access, an upload can take an hour compared to 3 minutes with high speed. Many times you are going to find that what you uploaded isn't what you thought it would be so now, after you correct the problem, you will have to wait another hour. That doesn't sound like fun to me. If you follow these recommendations, you will have your happiest and safest experience on the internet.

         
    Use this simple time tested process and move your business forward in 2006

     

    Another year is just about ready to finish and it is time to start thinking about next year. If you own your own business or you manage a business division, then you need to ask yourself if all of the expectations that were set forth at the beginning of the year were met. If not then maybe what stopped you was a lack of goals and objectives, or just a lack of a good process to use when planning them. The goal setting process is essential to the success or failure of the business, and many careers have derailed due to a lack of them. Goals and objectives apply to everyone involved. Being a business owner or a manager implies an inherent responsibility to insure plans are worked on, followed through on, and accomplished. The process that is used can and will determine whether or not you will finish the year with your hat in hand, or be congratulated for a job well done. If you are a business manager, you were given a mission statement by the organization. This mission statement is the overarching goal of the organization. It does not tell you how it will be done. It just implies that it “is” done. It is your job to determine what resources you will need in order to make them come to fruition. If you are the owner of the business, then you either have a business plan and or a mission statement. You should have both. Take this information and begin to formulate the things that need to be accomplished, the time period in which they need to be accomplished and by whom they need to be accomplished by. This is goal setting. Understanding and expressing “what” needs to be done, “why” it needs to be done, “when’ it needs to be done, and finally, “how” it will be done is the goal setting scenario. Goals should be just beyond your reach. Just past your fingertips. If they are too far out there, you will not reach them and will become disappointed. Too close, and they will not be worthwhile at advancing your company or your career. Start using the SMAC method in setting goals and objectives and always remember goals and objectives are not one in the same, though many people think they are. Goals are where you want to end up. Objectives are the steps to get there. S stands for Specific. Make the goal as specific as possible. Stating a goal that says you want more customers is not specific. How many more customers? More customers than when? If you state you want more customers, then getting one customer today is more customers. This is not a goal, it is a hope. To be more specific, simply state that you want to increase your customer base for the first quarter of next year by 20% over your first quarter in the previous year. If you know what that number needs to be, that is even better. M stands for Measurable. The goal must be measurable otherwise, how will you know if you are making progress? How will you know if you have accomplished the goal if it cannot be measured? Anything that is specific enough can be measured. The measurement method may take you some time to work up, but it can be measured if it is specific. In the example above, if we stated we want more customers. Can you measure that? Now look at the rewrite: increase customer base for the first quarter of next year by 20% over the first quarter of the previous year. Can this be measured? Of course it can. Your goals need to be fluid enough that you can tweak them, make small adjustments here and there as needed in order to insure they are accomplished. Again, if you are the manager or the owner, you need to have a method that you will be able to periodically check the goals to make sure you are on track. A stands for Achievable. Is the goal achievable by you or whoever needs to accomplish it? To say you want to triple your businesses income in the next 3 months is probably not achievable. Oh, you may hit the lottery or sell your business, but most likely, the goal of tripling your income over the next 3 months is more of a dream than it is a goal. If you were to state that you want to increase your businesses income by 10% over the next 3 months you have a more achievable goal. It is just beyond your reach, can be measured and is achievable by means that you have or knowledge you can go and get. Another words, the learning curve is not going to be straight up in order for you to accomplish this. C stands for Consistent. Is the goal consistent with the business plan and or the mission statement? If it is not, then achieving the goal will not move you, the business, or your career forward. And after all, isn’t moving forward what it’s all about? Make sure you set the goal consistent with the overall plans. To have a plan to have the best customer service response in your industry and then setting a goal to respond to customer inquiries in 7 business days or less, certainly does not seem to be consistent. A goal of responding to customer inquiries within 12 hours would be more consistent with the overarching plan. Set a timeframe that you will accomplish the goal. By setting a timeframe you instill a sense of urgency that it needs to be paid attention to and accomplished. If you don’t set a timeline, then there will be a tendency to put it off, or start it at a later date. The goal will not seem as important. Set goals with the people that work for you. In order for you to get more done as the owner or the manager, your people need to be advancing the organization as well. Teach them this process. Take the time and work with them to set 3 or 4 goals that will make them stretch their abilities. It will help improve them and the company at the same time. And don’t forget the most important part of working with your people: Following up. By having goals that you helped them to create and they participated in, you can step in at frequent intervals, measure the progress of the goals and discuss with them what challenges they are having and how to resolve them in order to successfully complete the goals. When 2006 is over, your business or career will have advanced and you will be proud of your accomplishments knowing that it didn’t just happen by chance, but by good planning and execution.

         
    Used electronic test equipment what s the difference in used refurbished remarketed and rebuilt

     

    : According to the research firm Frost & Sullivan, the estimated size of the North American used test and measurement equipment market was $446.4 million in 2004 and is estimated to grow to $654.5 million by 2011. For over 50 years, companies and governments have procured used test and measurement instruments in order to realize a number of benefits including the need to: - reduce equipment acquisition costs, - replace discontinued testing instruments, - circumvent lengthy new product delivery times, and - conform to legacy standards and specifications. Although there are many considerations when purchasing used test and measurement instruments, the quality of the instrument and reliability of the vendor should be at the top of the list. Used test equipment vendors deploy a number of bywords that represent the equipment they sell, including "refurbished", "remarketed", "reconditioned", "rebuilt" and, the obvious, "used". These marketing adjectives typically imply various quality processes and buyers of used test equipment should execute their due diligence prior to purchasing. "Used" or "Remarketed" equipment often describes products sold with an "as-is" supposition. You might purchase used equipment from an end-user organization or auction company that is selling surplus assets. Products sold as "used" should be priced at the lower scale of the market spectrum and it is not uncommon for quality issues to arise with "used" equipment. It is likely that the instruments have not been tested and have an uncertain history. It is only prudent to purchase "Used" equipment if you have the in-house repair and calibration facilities/expertise and are able to procure the item at a cost low enough that the added expense of repair and calibration remains to be a positive, economical outcome. "Refurbished and Reconditioned" are akin and are the most common presentment of used equipment from equipment dealers. Refurbished equipment is fully tested and calibrated to NIST standards to assure that they meet the original manufacturers' specifications. Refurbished equipment should come with all standard accessories and operating manuals. Malfunctioning internal components will have been replaced or repaired and the product will have been cosmetically cared for including painting and the replacing of face plates, button and knobs. Refurbished equipment is typically sold with a 30-90 day parts/labor warranty and is priced in the middle to high-end of the market spectrum. Finally, some vendors advertised "Rebuilt" test equipment. Many instrument options are field-installable and can be built-to-order according to the customer's requirements. Some products can even be converted from one generation or version to the next by adding various components. There is absolutely nothing wrong with purchasing rebuilt equipment and, in fact, if you can not find the exact product configuration you are sourcing, you should ask qualified vendors about the possibility adding those options. As with used and refurbished equipment, always exercise caution in choosing a vendor. Assure that the vendor is qualified or uses a qualified electronics laboratory to repair, calibrate and rebuild the products you seek. Purchasing used, refurbished or rebuilt electronic test equipment is a great way for organizations to save 30-70% on their asset acquisition costs. Warranties and guarantees from used test equipment vendors are formidable. In select product groups, the original equipment manufacturers offer extended warranties in partnership with the vendors that are the selling those products. Exercise caution and perform due diligence on your vendors. It is most effective to first identify a qualified used equipment vendor and begin a supplier relationship, as opposed to sourcing each instrument you need individually. If your qualified vendor does not have what you are looking for in inventory, it is likely that they will be able to locate it within 24 hours. By first identifying and working with a select few vendors, you will assure consistent quality and economical pricing with every used test equipment purchase. Robert Preville is the President and CEO of Global Test Supply, LLC, a distributor of new and refurbished test and measurement equipment from manufacturers such as HP, Agilent, Tektronix, BK Precision, Instek, Promax and Rohde & Schwarz

         
    Used equipment staying off the bleeding edge

     

    Everywhere you turn,, Americans are bombarded by the media’s coverage of the latest technological breakthroughs. From high definition panels built into refrigerators to key chain fobs that will chirp their location on demand. Don’t get me wrong, technology is fantastic. Anything to make life easier is welcome and embraced. The problem arises when your personal addiction to the latest gadgets starts to cloud your judgment on business purchasing decisions. I have seen this time after time. When presented with two alternatives to solve a company’s need, all too often a decision maker will opt for a more expensive, high tech product over a time proven solution. Akin to adding seat warmers to your Florida commuter vehicle, these choices may make you feel good at the time of purchase but do little to enhance the company’s bottom line. Even armed with comprehensive ROI statistics reflecting the contrary, some executives still choose to spend more and get less just to have the latest technology. To make matters worse, some even jump into the "bleeding edge" technology. So named because the science is so new and untested that the buyer becomes the guinea pig and suffers all the associated expense of troubleshooting the new concepts. Not to be confused with the "leading edge" where products and concepts have at least been tried and proven but still retain the price gap over "old tech". These super high-tech purchases are almost always based on emotions and hype not the hard facts, or at least not all the facts. Otherwise the newest, exorbitantly priced products would find very few homes with steadfast, bottom-line conscientious managers. A very good example of this can be found in the industrial fabricating market. Any shop experiencing growth is faced with the choice of buying new machinery or locating quality used or rebuilt equipment. Considering equivalent machines, it is amazing how often the nod goes to a new machine. Even with a price tag of potentially hundreds of thousands higher, and long lead times, new machinery is moving at a steady clip. Although tax consequences play a role in these purchases, it is a tough task to re-coup a 100% price increase by tax write-offs. The mechanical make-up of a typical machine tool further adds to the argument of buying rebuilt equipment. In it’s simplest form, a machine tool consists of a frame, drives, servos and a computerized control. A good frame is essentially timeless and like a good wine, can become better with age. Add to this frame some new drives, servos and a PC based controller and you have essentially a new machine. Sometimes with better performance than a fresh one rolling out of the factory. Now I ask again, why pay a 100% premium for a new machine. If service and warranty play a major role in the decision making process, look to reputable reseller and you will probably find technicians that are former employees of and trained by the OEMs. A good reseller will have complete confidence in their rebuilds and provide a comprehensive warranty that may exceed the OEM warranty in duration and response time. We all know of the savings to be enjoyed by purchasing a used automobile yet we still but new cars for reasons of pride. Capital expenditures should not be an emotional decision. Gather as much information as possible to compare both new used equipment that will accomplish your goals now and into the future. And make sure your supplier will provide the warranty and service you would expect from new equipment. Then sit back, relax, enjoy your enhanced bottom line and revel in the fact that you made the right decision.

         
    Using career enhancement tools to become more successful in business

     

    Every career can use a boost from time to time. Salaries can increase and job outlooks look better when career enhancement tools are used to benefit the person who needs several things working in their favor in the workplace. Career enhancement tools vary but one thing is clear and that’s the success you can realize by using career enhancement tools. There are many career enhancement tools you can use to help you become more successful in your job or self guided business. Home business owners often use these tools too. Take a look at the list below and see which tools for career enhancement will help you most. • The Occupational Outlook Handbook which is placed online by the US Bureau of Labor offers career guidance in many different areas. You can find out salary reports as well as educational requirements for certain careers and the general outlook for certain careers. • Aptitude tests are wonderful job enhancement tools for employers and help employers determine who is suited for certain positions within a company. • How-to books are great tools career minded individuals will use from time to time. These books include everything from financial guides to skill training in many different areas. • Books on particular careers which offer real life biographies and case studies are also great in enhancing careers. Individuals use these studies and life stories to relate their experiences on the job with others who have been there and done that! • Video media is a great way to train and enhance careers of multiple individuals and proves very successful for the training in larger call centers and facilities which train numerous employees. • Books such as Jeffery Gitomer’s Little Red Book of Selling and Dale Carnegie’s Lifetime Plan for Success which includes How to Win Friends and Influence People are both great career enhancement tools for people who want to get ahead in their workplace. • Going to see live speakers such as the speakers seen at sales conferences can greatly enhance career opportunities. Speakers trained to help you generate sales or build self esteem are highly productive in helping career minded individuals get ahead in their respective careers. • Listening to self-empowerment tapes and CDs can greatly boost your job productivity. • Attending on-the-job training classes as well as technical classes to help you cross train in many different aspects of your work place is great too. • Being well informed is one of the greatest things you can do for yourself and being a cross-trained employee is one of the best ways to enhance your career through salary increases and better career opportunities. • Talk to others in your field. Put yourself in the company of others who are not only successful but know they are successful. In doing so, you’ll learn how they are able to be a success and you’ll have the opportunity to rub shoulders with people in your industry who can offer you some sound advice when you need it which can certainly enhance your career! How to become more successful in business is determined by what you are able to do to self empower yourself in your career choices and career training. You have to know not only how to empower yourself but you also need to know where to find the career enhancement tools to give you the competitive edge. Locating classes, training and other tools is very simple using the keyword search feature on AOL as well as Google searches. You’ll find the difficult part of finding tools to enhance your career is not in finding the career enhancement tools but in being dedicated enough to do something with them once you locate the tools to give you a career boost!

         
    Using caution when incorporating in california

     

    If you are a business owner, you of course want to do what will give it the best chance for success. That includes making it easier for you to operate your business. That is why many proprietors turn to business incorporation. Incorporating your business can be very beneficial to you and your business. However, if you are a business owner in California, you might want to think hard about the decision to incorporate there. Incorporating in California or incorporating in another state and operating your business in California can cause a business owner more headaches than need be. Incorporation is a process that a business owner goes through in order to turn his business into a corporation. There are many federal legal benefits to doing this, including having your personal assets protected from seizure in the event of legal issues, the establishment of a credit rating separate from your personal credit rating, longevity of the business, lower federal taxation, and the ability to easily transfer ownership. And depending on which state you incorporate your business in, it can be a very simple process, requiring little to no paperwork and fees, or it can be a demanding process that requires filing paperwork and paying multiple fees and taxes. Such is the case when incorporating in California. Incorporating in California can prove challenging due to its strict regulations and daunting taxation issues. Many businesses choose to incorporate in neighboring states where the regulations are more relaxed, in order to avoid this trouble. However, this can lead to a whole host of problems if care is not taken (and extra expense laid out) to make sure that the state of California is in the loop. The state of California is notoriously strict when it comes to where your business is operating. If you are running your business with an office facility and you employ staff members (even if it is out of your home) in California, then the state of California considers your business a California business, no matter where you are incorporated. The state will claim jurisdiction (authority over your business), because the day-to-day operations are there. Even if you do incorporate your business someplace other than California, you are required to register with the state of California and pay the required taxes. Therefore, the question might be, why not just look into incorporating in California, rather than getting hit with two sets of fees and taxes by incorporating in another state while operating out of California? You might think that you can fly under the radar and conduct your business operations in California without going through the proper notification, while being incorporated in another state. You will eventually be caught, though, and you will be subject to steep fines, back fees and taxes, in addition to having your business audited (which will close down the shop temporarily). It won't be a good situation for you or your business to be in. It is possible to get around incorporating in California. You can incorporate in another state, while operating business there AND in California. Because it is such a harsh atmosphere for business, incorporating in California and doing business there is not as easy as it is in other states. Unfortunately, unless you can move to another state to operate your business there, you will have to go through the rigors that businesses in California are subject to.

         
    Using hardware and software it for your business

     

    There's almost no-one nowadays who doesn't have a computer -- it's more-or-less a given that you've got a computer in your home office, and that you use it almost every day. But are you getting as much out of it as you could be? Here are some things your computer can do that you might not have thought of. Keep Track of Customers in a Database. Once you start to get some customers, you'll need to keep track of their contact details, as well as making sure you know who they are in case you forget. You have a choice: you can keep a file for each customer in your filing cabinet, or you could enter their details into a computerised database. The good news is that if you have some office software, then you should already have a database package. Starting a database of your customers isn't too difficult to figure out, and lets you do all sorts of things -- you can sort them by the area where they live, or list everyone who's bought one of your products but not another, for example. Graph Your Sales. Once you've got your database telling you what you've sold to who and when, you can use it to produce all sorts of graphs and other reports that could help you to spot trends and see what works and what doesn't. Do Your Accounting and Tax. With inexpensive accounting software, it's not hard to use your computer to keep track of all your incomings and outgoings -- it can even be integrated with your customer database. Since you'll have all your sales data electronically already, it'll be a snap to do your taxes at the end of the year, where for people who have it all on paper it can be a complete nightmare. Design Your Own Marketing Materials. Modern desktop publishing software makes it dead easy to design your own logo, leaflets, brochures, and anything else you might want. With a little practise, you can produce things as good as any graphic designer a home business could afford, and save the money for distribution. Make sure you run your design by a few people first, though, to check that it's readable and there aren't any mistakes or flaws that you've been staring at it for too long to see. Follow Market Trends. With Internet access, you can read articles from the specialist press of the whole world, and keep up to date with all the latest technologies and trends in your industry. It's worth picking out the top five or so most important sites to your business and spending a few minutes each day checking them. After all, you don't want to get left behind. Accept Credit Cards. Many people don't realise, but Internet merchant accounts aren't just for accepting card payments over the web. You can also open one to use as part of your home business over the phone or by post, with you simply entering the card numbers and amounts into a website to process the payments. This is a powerful way of giving your customers more alternatives when it comes to paying you. Promote Your Business. Don't underestimate the effectiveness of the web as a tool for promotion. You should definitely take the time to list your business on every directory listing people in your industry -- make sure that someone searching for your profession and the town where you live would be able to find you listed easily. Pay Your Staff. When your business gets big enough to employ staff, you'll find your computer is a useful tool for keeping track of how many hours each person has worked, how much they should be paid, and how much of that amount needs to be kept behind as tax. Trying to do payroll manually is a big headache. Keep Backups! There's one thing, though, that it's important to always remember: when you use your computer to store any data that you can't afford to lose, make regular backups and keep them in a safe place. It's really not that much trouble, and if you don't do i then a simple computer failure can devastate your business.

         
    Using invoice discounting for cash flow

     

    Invoice discounting is basically the same as invoice factoring: it involves selling your invoices that are not yet due to be paid to a company at a discount. The discount provides the company purchasing your invoices with their profit; but by receiving cash now for your invoices, invoice discounting enables you to: * Meet emergency expenses * Pay suppliers early to take advantage of early-payment discounts * Take on time-sensitive new projects * Expand your business more quickly * Pay for costly advertising that will bring in more sales * Beef up your business prior to crucial time points Invoice discounting involves finding a company that will purchase your accounts payable at a discount that depends on the length of your payment window. The discount generally ranges from about 1.5% to 5% for every ten days until payment is due, with the lower discount percentages going to the most creditworthy of the companies that owe you money. Your company's creditworthiness has no bearing on this sale. And with invoice discounting, you can sell part or all of any reasonably creditworthy debt. You can either sell your invoices on a notification basis which means the company that purchases your invoice also collects on it or you can work out terms with the company purchasing your invoices on a self-collect. The difference is when it's a notification sale, your debtors will pay the invoice discounting company directly. If you collect debts yourself and then forward to the invoice discounting company, your customers will never know that you sold their invoices to another company. It is easier to sell invoices on a notification basis because the invoice discounting company knows, this way they will get their money back in a timely fashion. The main advantage of selling invoices on a notification basis is that the factor, or invoice discounting company, is then responsible for collecting the debt and assumes all the credit risk. The factor is often a broker, not the company purchasing your invoices. Using invoice discounting on a regular basis to fund your company can eliminate the need for staffing a credit and collection department, which equals another saving for you. Other Ways to Use Invoice Discounting If you establish an ongoing relationship with an invoice discounting company, you can even establish the equivalent of a line of credit based on your invoices. Instead of using all the funds forwarded to you in payment for your invoice, you take what you need and leave the rest with the invoice discounting company. The discounting company allows your account to accrue interest, and you can draw on the account as you need cash. If you're not ready to sell invoices outright, you can try using accounts receivable as collateral for a loan. This involves getting a bank to accept both your credit and your debtors' credit, and then collecting cash equal to at least half and up to ninety percent of your accounts receivable. This is a little cheaper than invoice discounting, but it can also be both slower and less flexible.

         
    Using outsourcing software to reduce costs

     

    When you examine the Internet as a whole, it becomes clear that the World Wide Web is an integral part of the global business paradigm. That being said, employers can get in touch with computer programmers in Zimbabwe or an Internet Technology professional in Bombay with the simple click of a mouse. This ability to reach out and hire someone has modified the way companies can conduct business. For one, it does not require them to keep a full staff of professionals, thereby reducing overhead costs. If a company needs someone with specialty in a certain area, they can just get out on the web and find that particular person. With human resources becoming such a fluid mode of hiring in certain sectors, someone needed to come up with a place where outsourcing software could be easy, convenient and accessible to everyone. These websites have allowed people to market themselves in a variety of ways. For instance, the site rentacoder has a network of businesses that specialize in outsourcing software. There is a diverse group of freelance professionals all over the world that are ready to bid on projects. Not only does the business get to outsource a particular project, but the price can also be kept down. This leads to significant savings. If you navigate around the site you will find plenty of outsourcing software testimonials and data proving the successful nature of rentacoder. Internet marketing is made easier with elance as well. This site makes outsourcing software easy. It is simple to navigate, enrollment costs are low and there are a variety of value-added services that come with membership. Software experts and businesses looking to employ them are plentiful. The multipurpose website guru is another entry into the outsourcing software virtual marketplace. In fact, this site has a more diverse web of categories to choose from. Instead of just computer and software related projects, guru allows you to find writing, editing, and photography, and broadcasting, business consulting, legal, sales, marketing, and other projects. The website is well-designed and provides a ton of information on the freelance sector. As the Internet continues to extend its reach further into the policies of American corporations, the trend of outsourcing software and other services will continue to increase. The age of information is here and it is only going to grow in size and scope.

         
    Using swot analysis to improve your business

     

    Analyzing the strengths, weaknesses, opportunities, and threats (SWOT) of a business is a well-established tool that is widely used by academics, consultants, and advisors. Although it is a simple concept, business owners often struggle when trying to use it because it is so broad. It is difficult to determine where to start, what questions to ask, and where to focus. The obvious problems get attention while many other important issues get overlooked. SWOT analysis is a great tool, but its effective use requires additional structure. Strengths and weaknesses relate to internal factors, while opportunities and threats cover external ones. The internal factors can be divided into five categories: management, workforce, sales and marketing, operations, and financial. The external factors are also divided into five categories: threat of new entrants, bargaining power of suppliers, bargaining power of customers, threat of rivalry from competitors, and threat of substitution. To approach the analysis in a structured way, prepare a checklist using the categories mentioned above. Identify factors within each category that are important to your business. Under management for example, a major weakness for virtually every small business is relying too heavily on the owner. What would happen to the business if something happened to the owner? In the workforce category a factor could be employee turnover and the availability of new hires. The threat of new entrants might include the possibility of a big box retailer opening near your business. The bargaining power of suppliers and customers categories should consider the possibility of losing a major supplier or customere up with several factors for each category to complete the checklist. It is important that you do not try to rate or solve each issue as you identify them. If you do, you will get bogged down on each factor and never complete the analysis. Once the checklist is complete, you should rate each factor based on its importance to your business. Use an alphabetical scale from A to E, where A = very important, B = important, C = some importance, D = little importance, and E = not important. Next rate each factor based on proficiency (internal) or vulnerability (external). Use a numerical scale from 1 to 5, where 1 = very proficient or not vulnerable, 2 = proficient or little vulnerability, 3 = average proficiency or some vulnerability, 4 = poor proficiency or vulnerable, and 5 = deficient or very vulnerable. The factors with the lowest letter and highest number (A5) are the biggest weaknesses or threats. The ones with the lowest letter and lowest number (A1) are the biggest strengths or opportunities. Using this structured approach makes a SWOT analysis possible and practical for any small business. To make this process worthwhile you must use this information to take action. Work to fix the worst problems first, prepare for the biggest risks, take advantage of the best opportunities, and build your secondary strengths.

         
    Vas your secret weapon

     

    Probably the biggest problem with being a small business owner is right there in that phrase. Small. Small means few or no employees. Small means you end up doing most, if not all, business tasks yourself. Whether or not you're any good at them. But even if you ARE perfectly capable at completing those tasks, is doing them really a wise use of your time? (Just because you CAN do something, doesn't necessarily mean you SHOULD.) As a business owner, you should be focused on the big things – a vision for your business, putting together a plan to reach that vision, developing new products, spending time with your clients and marketing. In other words, those "big picture" tasks that grow your business. What you should NOT be doing is worrying about getting your invoices out, mailing products, providing troubleshooting help, scheduling your time and all those other administrative duties. In fact, the more time you spend on all the minutia of running a business, the less time you'll spend on tasks that can actually grow your business. It's a vicious cycle. Maybe you feel like you don't have enough income to hire help. So you do the work yourself. Because you do the work yourself, you don't have the time to work on growing your business. So then you don't feel like you have the income to hire help. And so on. The same cycle exists if you feel you don't have enough time to locate and train help. You end up doing the work yourself because there isn't anyone who can help. And because you're so busy doing things you truly have no business doing, you'll never have the time to locate and train someone to help you out. In either cycle, you're probably discovering you feel overwhelmed, drained and with zero creative energy. Instead of jumping out of bed excited at being in business, you wake up each morning facing a to-do list longer then War and Peace and wanting to crawl back into bed and put your pillow over your head. So what's the solution? Hire a virtual assistant. Virtual assistants, also known as VAs, are freelancers who specialize in taking care of the "busy work," freeing you up so you can focus on why you started your business in the first place. Because they're freelancers, you pay them for the hours they work. And you don't pay for overhead, vacation, taxes, office supplies, a desk, etc. It's a perfect win-win for everyone. VAs can break you out of both those cycles and put you on the path to building a successful business. They can help you with just about every business task imaginable (with the sole exception of filing – you're probably stuck doing that yourself). Some examples include: * Bookkeeping, including invoicing, paying bills and following up with unpaid invoices * Product fulfillment * Customer service * Answering e-mails and phone calls * Scheduling business and personal appointments * Maintaining databases * Updating Web sites * Submitting articles to article databases And much more. In fact, if you want to see a list of what a VA can help you with, check out IVAA. org (International Virtual Assistants Association) and AssistU. These organizations can also help you find the right VA for your business. VAs specialize in different business services, such as marketing or bookkeeping, so make sure you find a VA who focuses on what you actually need. I can tell you from experience that once you take the plunge and hire a VA, you'll kick yourself for waiting so long. You'll have more time to devote to the tasks you most enjoy (rather then struggling with the ones you hate), you'll be less stressed and have much more creative energy. Plus you'll probably find yourself making even more money. Creativity Exercise -- Hire a VA Ready to try a VA but not sure how to begin? I suggest starting small. Like five hours a month. Make a list of everything you do in your business each day. If you get stuck, keep a notebook on your desk and write down things as you do it. Now look at the list. Pick something you could delegate to a virtual assistant and would take around five hours a month. Once you find the right VA and have freed up those five hours, make sure you use those hours to do something to grow your business. Maybe do some more marketing or develop a new product line. Now after you've started seeing more income, take some of that extra money and add to your VA's tasks. Again, use the time you've freed up to continue to grow your business. Before you know it, you'll have a built a thriving, successful business with less stress and have more energy and income then ever before.

         
    Virtual assistance price list a basic guideline to setting rates for your virtual assistant business

     

    I've seen Virtual Assistants' prices range from $15 to $70/hr depending on the VA's experience, specialty, and the project. One of the most common concerns with a new Virtual Business is what to charge for their services. A common mistake made by new Virtual Assistant businesses is underestimating the value of their services. The more specialized your service is the more you may be able to charge for those services. Here are some guidelines: Peek in on your competitors Visit other Virtual Assistants' websites to see what they are charging for similar or the same services. Look for areas you can improve and perhaps provide a service that they don't. Find your USP (Unique Selling Proposition or Point). In other words, what sets your business apart from others like it. Calculate your expenses Your price should at least cover your expenses. Expenses can include but not limited to: 1. Your Time (Yes, I said your time) 2. Office supplies, Equipment, and Software 3. Marketing (Online and Offline) 4. Rent/Mortgage 5. Utilities (Electricity, Gas, Telephone, Water, etc) 6. Taxes 7. Insurance (Business, Health, etc.) 8. Web Hosting and Web Maintenance 9. Travel and Transportation 10. Continuing Education These are just a few that I can think of off the top of my head. Once you have calculated your expenses you will have a general idea of what you need to at least cover your expenses. Of course you don't want to just cover your expenses, but make a profit as well. Price your services according to your target market Your target market is another factor to consider before setting your virtual assistance price list. If your target market is business executives or college students then naturally you could charge the business executives more than you could college students. Why? Well...college students may be on tight budgets, work part-time, and/or may still be depending on their parents for financial assistance. Business executives are pretty much established and tend to have bigger budgets. Do you catch my drift? Price your services according to supply and demand If you provide specialized services and the demand is high but the supply is low, not many VAs offering the same services, you can charge more for those services. However; if the supply is high you may want to consider being more competitive with your prices. If you want to lower your prices and still make a profit you will want to cut your expenses also. After considering all of the above it should give you a general idea of how to set your virtual assistance price list. This is just a basic and general guideline so nothing is set in stone :)

         
    Virtual staffing for your small business

     

    What’s a Virtual Assistant? Virtual assistants are independent contractors or entrepreneurs who provide administrative assistance to multiple clients. Unlike regular assistants, they work out of their homes rather than at your business’ physical location. There are numerous advantages to using a virtual assistant: • Location. If you work from home, you don’t have to find a place to put an employee. • No Overhead. They provide their own office supplies, desk, computer, software, and phone lines. • No Benefits. They’re not your employee, so you aren’t responsible for paying social security or income taxes, holidays, insurance, vacation or sick pay. • Lots of Flexibility. It’s significantly easier to find a virtual assistant who can work evening hours or weekends—after all, they’re working from home. And you can give them more or less hours as your needs change. There are virtual staffing companies that match virtual assistants with small and home-based businesses who need help running things. How Do I Know What I’m Getting? Gayle Buske is the president and CEO of TeamDoubleClick, a highly reputed virtual staffing agency. Her clients are often concerned about hiring someone without ever seeing their face. She reassures them that because the agencies don’t get to meet the people they send to their clients—often they’re in different states—their hiring processes are a great deal more stringent. In fact Buske admits, “We turn away about 70% of the people that we interview.” Those who make the grade go through a 9-part interviewing process and then are trained and certified. Virtual agencies try to match each client with an assistant who is a good fit for their needs. They look at qualifications, personality and work style, and hours of availability—both number and times. Whatever your unique requirements, they’ll work to find someone who’s a good fit. Common Client Concerns • How do I know that my assistant is actually working the hours I’m paying them for? To allow you to track their progress, many agencies have their staff send daily reports of their activities. They may say how many inbound calls they received, how many outbound calls they made, how many appointments they set, what documents they worked on, as well as how many hours they put in for the day and their cumulative hours for the week. This can help you stay on budget—if you see they’ve already worked the total hours you planned to pay them for, you can push back other projects until next week. • How hard is it to work with someone from a remote location? Buske points out, “There’s so much technology now that really facilitates working virtually.” She contends it’s as simple as hitting the speed dial instead of the intercom or attaching files to an email rather than walking them to the next room. Most of your communication will be via phone, fax, and email. There are also online meeting programs (GoToMeeting) that let you do demonstrations and presentations, such as for training purposes. And their skills run the gamut—everything from accounting to marketing to graphic design. Whether you need someone to answer incoming calls and do mailers or someone who can manage your entire business when you’re away, you can find staff with all levels of skills.

         
     
         
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