Penny Bristow

Essential Startup Business Questions… Failing To Plan is Planning to Fail

Posted by aviafrench on July 5, 2010

It is well known that approximately 97% of all startup businesses fail within the first three years. Many of these businesses were well intended but lacked the essentials for getting started. A number of the costly mistakes and disastrous failures could have been avoided if the owners had taken time to address three necessary components vital to a young businesses success – detailed planning, common sense, and current information.

If you have made it past the dream stage it is time to plan your action. Initially several things should be considered to establish the direction of your business.

oWhen do you intend to get started?

o Remember to find a need and fill it. Before doing so try to determine if it is a valid need. Setting up a snowmobile shop in southwest Florida on the surface may seem novel and bold, but is it valid. You get the point. Look at existing industries and see if there is a niche to be filled. Once you have determined a valid need that can be fulfilled at a profit, and you are in the best position to fill it then it is time to get started.

oWhere do you intend to set up shop?

o While we have heard it said before that location, location, location is important, it is only one of three considerations when choosing a spot to start your business. Are the demographics a good match for your business? Is the neighborhood safe, clean, and are other businesses in the area making it? Does the location have good access to traffic? Is there local growth?

oWhat name are you going to use?

o What’s in a name? In your case it may make or break your business. Try to come up with a name that accurately describes your products or services. Brainstorm a few possibilities, write them down, and run them past some friends and strangers.

oHow are you planning to position it?

o Why are you unique? Create a Mission Statement that is brief, and covers three main components – your mission, how the client benefits, how your company benefits.

oHow are you going to figure investment needs and get them covered?

o This is one of the hardest components to estimate. For this step consider hiring a consultant that specializes in business startup financing. Once you have arrived at a dollar amount then double it. Hidden costs can be the undoing of any small business.

o Where is the money to start the business going to come from? Traditionally people have looked to venture capitalists, family, second mortgages, and Small Business Association loans. Wherever you mange to get financing make sure you retain ownership of your concepts.

oWhat kind of structure are you going to set up?

o There are four basic structures used to set up businesses. (For the sake of simplicity and space I will not go into each type as each state has different laws governing them). These business structures are sole proprietorships, limited liability corporations, corporations, and S corporations.

oHow many employees are you going to need?

o This is a tough call for any business owner. Too many employees and you have people sitting around and doing nothing. This may be great for customer service, but tough on the overhead. Too few employees can cause problems in meeting demands such as service, deadlines, and deliveries. The solution may be to start with a few employees as needed and cross-train them in other jobs.

oWhat company policies will be set in place?

o Create a company handbook that covers employment practices and policies. It should cover such matters as hiring and firing, vacation, sick pay, raises, promotions, and anything else important to the smooth functioning of your company. Do not wait until you’ve been in business for awhile to create the handbook either. It should be in place before you open the doors for the first time.

These fundamental questions cannot be ignored. Take the time to cover each detail in depth. Write down, evaluate, and discuss your plan with someone you trust. If you have a mentor available already successful in business, and they are willing to look over your shoulder during the critical startup period, then you have an exponentially greater chance of succeeding.

Chuck Lunsford is the website manager of UnitedPlastics.com. He offers advice on how to get started in your own sign business. Visit his website and get tips and advice on starting a small sign business opportunity from scratch.

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Alpha Industries Bold Freizeit Blouson Jacke vintage blau, XXL

Posted by aviafrench on July 3, 2010

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Bolivia on the Brink – Nationalizes US Company, Ashmore Natural Gas This Time

Posted by aviafrench on July 3, 2010

The country of Bolivia has been very busy nationalizing businesses and industry in their country. They have done this with water filtration plants, natural resource mines, as well as gas and oil industries. This includes; all of the infrastructure, such as pipelines. Just the other day the Bolivian government made a bold move to take natural gas pipelines and infrastructure from foreign businesses that had put up millions of dollars in investment.

Foreign investment especially in infrastructure is very important to third world and emerging economies. Hugo Chavez of Venezuela has also nationalized or stolen vast amounts of industrial infrastructure that was capitalized with foreign investment; once nationalized Venezuela’s governmental owned industrial businesses became very weak and inefficient. Bolivia has attempted to duplicate what Venezuela has done and unfortunately had the exact same results.

To make up for the inefficiencies, Bolivia has nationalized other industrial capacity in its nation and stolen from foreign investors. These acts have hurt Bolivia’s standing in the international community and that has hurt all emerging nations that are also looking for capitalization of infrastructure and foreign investment. Is Bolivia on the brink of collapse; unable to get loans, and unable to run important infrastructure industrial businesses at their full potential?

Is this seizing of Ashmore Natural Gas Company and Shell Oil’s pipelines a bad move for Bolivia? Many international economists believe it was and that this will make it very difficult in the future for Bolivia to survive with a strong economy. Such a bold move could send Bolivia back several decades.

“Lance Winslow” – Online Blog Content Service. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/.

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Rising From the Ashes of Recession – Building a Thriving Business During Turbulent Times

Posted by aviafrench on July 3, 2010

Turbulent times like the current recession create extraordinary opportunities for both failure and success. Many businesses will not survive, others will be permanently disabled, but others will take advantage of this economic crisis to advance to the top of their industries. What will separate the winners from the losers is the willingness to assess their current situation, to identify and invest in their strengths, and to rely on innovation to expand into previously ignored high value markets.

Vital Signs: Getting your Business a Physical: Recessions, like viruses effect different businesses in different ways. The first step to recovery involves subjecting your business to an audit to examine your businesses vital signs. These vital signs are industry, strategy, and financial strength.

Industry Impact: Recessions do not practice equal opportunity with respect to impact. The current recession has been brutal on automobile companies, their suppliers, and real estate, but has been relatively benign to businesses that serve export markets. Step one is to make a simple determination as to whether a given business is more or less sensitive than the average industry to this downturn.

Strategy: A company’s prospects for future success depends heavily on the present strategy. Fortune magazine determined that market leaders outperformed followers by a factor of 4 to 1 over a 10 year period. Leaders are better equipped to deal with recessions than followers. A decline of as little as 5% can turn followers profits into losses, forcing these companies into draconian and damaging cost reduction efforts.

Financial Strength: Recessions provide enormous opportunities for businesses that are operating from a position of financial strength. For the financially strong, recessions are the time to advance business potential by investing in innovations, talent, capital, and processes at a deep discount. The final step in a business physical is to get a clear assessment of the surplus resources that you have to invest in a down market.

The Baseline for your Action Plan: The vital signs that your business physical defined will formulate the basis on which your action plan will be established. These three indicators each ranked simply as strong or weak provide the global platform from which to develop the details of your plan. I will address the cases where the industry impact is high.

Strong Strategy: This is a time to extend your lead in the marketplace by taking advantage of your competitor’s weaknesses. Identify your highest value offerings and supercharge them while taking the opportunity to divest or diminish your dependence on products and accounts that do not meet margin objectives. Another action that should be taken is to identify your core strengths and redirect resources to these areas.

Financial Strength: A business that is operating with limited financial strength that has determined that the current strategy is weak is in survival mode. A strong strategy must be formulated and adopted as rapidly as possible or this kind of business will be out of its misery shortly. To concentrate on survival without a strong strategy will not culminate in success.

A business with a strong financial position that has a weak strategy should proceed with caution in areas where the strategy is deemed to be sound. Be cautioned that to commit good finances to an unsound business model will soon deplete the financial strength leaving the business in a position where survival consumes all corporate resources.

Marching Orders: After completing the business physical and determining the most appropriate types of actions that are appropriate for a given business it is time to sharpen your focus on a prosperous future. The four activities below apply to all four corporate stated with respect to strategy and financial strength. The order of these activities is to clarify strategies and shift resources to core business activities, get aggressive in managing costs and cash flow, increase revenues and margins, and finally to prepare for bold moves.

Challenge: Firms that choose to innovate and reinvent themselves as leaders will emerge from this recession stronger, less sensitive to future turbulence, and on solid sustainable financial ground. Some firms will not rise to this challenge and will fall to the back of the pack, be acquired at a discount, or face bankruptcy. As was recently pointed out, but for different purposes, “a crisis is a terrible thing to waste”. Intelligent business leaders and entrepreneurs who recognize and act in that manner will be winners in a bright future.

Hadannah Business Solutions

13815 Castle Brook Road

Evansville, IN 47725

HadannahBusiness@aol.com

(812) 431-3877

Hadannah is a business consulting firm that helps business owners and management make important decisions on strategy, operations, product or service offerings, mergers and acquisitions, technology, and organization.

Hadannah subscribes to the basic principle that our consultants must measure their success in terms of our clients’ financial results. Companies in transition that aspire to create wealth and transform their business models like to work with us. We are an action oriented firm that identifies opportunities for enhanced performance of our clients, and provides practical advice that works in a down to earth, friendly and approachable manner.

Hadannah examines each client business from a CEO perspective.

HadannahBusiness@aol.com

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You Can’t Motivate Your Employees, No Matter How Hard You Try

Posted by aviafrench on July 2, 2010

You can’t motivate your employees, no matter how hard you try! I developed this mantra over my years of experience in business leadership positions from front line supervision to executive levels.

Motivation must come from within a person through personal choice, at least initially. As a leader, your advantage comes in consistently providing personal inspiration and an inspiring work environment that motivates employees to perform at their individual and collective potential. Therefore, the most powerful employee motivation comes from an internally motivated employee performing for an inspirational leader in an inspirational setting. An unmotivated employee working for an inspiring leader and in an inspiring environment neutralizes the environmental inspiration through the employee’s own lack of motivation from within. So, no matter how hard you try to inspire and motivate unmotivated employees, your efforts will go in vain until your employees are ready and willing to be motivated.

The employee motivation matrix below provides contrasting behaviors resulting from any one of four distinct motivational situations:

o Low personal motivation and low environmental motivation

o Low personal motivation and high environmental motivation

o High personal motivation and low environmental motivation

o High personal motivation and high environmental motivation

The leader operating in a low environmental and low personal motivation situation has his/her work cut out for them. These situations are likely at a make-or-break point, and on the verge of total collapse. In this case, strong leadership is needed to turn the environment around and make critical decisions about the future of unmotivated personnel.

The leader operating in a low environmental motivation and high personal motivation situation has a better chance of success as long as the leader has the authority, influence, and support to change the environment. Changing the environment is usually ‘easier said than done’, but is doable. These situations are often characterized as ‘turnarounds’, and require a leader be decisive, single minded, tough, confident, fair, bold, motivating, inspiring, and patient.

The leader operating in a high environmental motivational and low personal motivation situation can usually spot this situation rather easily. Poor attendance, participation, low productivity, and missed deadlines all signal a problem that must be expeditiously addressed. If left unattended, low personal motivation employees working in a highly motivating environment can compromise the highly motivating environment by creating resentment, distractions, and counterproductive behaviors.

The leader operating in a high environmental motivation and high personal motivational situation has the most rewarding leadership situation imaginable. Whether created or inherited, this leadership situation can be the most exciting leadership experience of any leader’s career. These situations are found in new venture start-ups, successful turnarounds, and dramatic product or service innovation in a mature market.

As a leader, your ongoing action items include:

1. Provide a highly motivational environment as defined by a majority of your employees. Don’t assume that as a leader, you know what motivates your employees. Further, don’t assume that whatever motivated your employees in the past will continue to motivate them into the future

2. Acquire, train, and inspire motivated talent from the moment you take charge, and iteratively thereafter. This is not a once-and-done effort so you will have to take your time, be patient, and invest in making wise hiring decisions.

3. Address employees exhibiting low motivational behaviors with express dispatch. The rest of your employees in a high motivation environment know who falls into this category and will support your efforts to address behaviors indicative of employees with low motivation, even if they don’t know the details.

Just because you have the mantle of leadership bestowed upon you, doesn’t mean that everyone who crosses your path will be awe inspired, committed, and stimulated. Motivation is a very personal issue driven by a very complex set of personal circumstances you cannot always directly control through motivational tactics. What you can control however, is the environment and addressing the behaviors of those within the environment you lead.

For additional leadership guidance please visit Leadership Pinnacle

Michael McCarty C.C.C.E, MBA

Mr. McCarty has a proven record of accomplishment in strategic leadership roles for fortune 500 companies. He is an award winning performer in the areas of large-scale operations leadership, strategic planning, senior project management, and significant contributions to the bottom line. Michael has successfully leveraged his leadership skills to provide keen insight, vision, direction, and executive support to financial services firms, information technology firms, and the automotive, credit, and insurance industries. He has been particularly effective in start-up and turnaround situations.

Insisting on integrity, self-reliance, resourcefulness, and ingenuity, Mr. McCarty is an action and solution oriented leader capable of making strong financial contributions to the bottom line. Operational leadership in the areas of process improvements, cost analysis, and innovative revenue generation characterize soundly this veteran executive’s distinguished career. For more on Mr. McCarty, please refer to http://www.leadershippinnacle.com

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Security Analysis For a Focused Portfolio – A Review of Philosophy

Posted by aviafrench on July 1, 2010

In light of the recent nonsystemic risks that have developed, particularly in the banking, brokerage and real estate industries, it’s important to review your investing philosophy and research strategies. The following bullet points list my very thorough and focused ideology for reducing nonsystemic risk (business risk) in determining whether to buy/sell common stocks:

* Check the short interest and kinds and volume of option writing/buying/selling. Does it indicate that investors on the other side of the trade have a widely dissenting opinion from yours?

* Who holds the stocks? Individual, institutions, insiders, mutual funds? And at what percentages of shareholders do each represent.

* If buying or selling has been the most recent trend, who has been active in the trading (refer to the above holders)

* Financial statements must be reformulated to reflect not current and long term assets and liabilities, but operations and finances (going back at least 5 yrs). Intangible assets, or uncertain assets should be amortized or depreciated heavily

* Profitability analysis, ratio analysis, Discounted PV analysis (earnings or cash flows) should all be calculated to determine intrinsic value

* Earnings should be matched with cash flows to determine the quality of the earnings. Are depleting cash flows suggesting transitory or fraudulent earnings?

* For when to buy and sell, have technical analyses revealed any developing trends that might indicate an opportune buy/sell at a specific point in time?

* Read the 10k’s for the past 5 yrs and match items and MD&A. Are management’s policies and accounting consistent? Are they fraudulent? Conservative or aggressive?

* Read the most recent 10q’s since the last 10k (same analysis applies as above)

* How does the firm stack up to their competition in terms of competitive advantage and profitability? Valuation? This will be more generalized and less intense analysis

* Industries and sectors, what are the outlook/economics?

* Finally summarize and organize all of the above findings into an easily readable report

The research workload is no doubt very heavy, but considering the consequences of laziness (or in the case of many stockbrokers or portfolio managers, greediness), taking a note from greats like Graham & Dodd, Buffett and as I’m so bold to say Einhorn, and intensively researching these inherent nonsystemic risks can greatly reduce your losses and provide more safety of principal with satisfactory returns despite the lack of diversification (deownersification?)

Any thoughts?

My name is Matthew Scullen, I am a financial administrator for an independent investment representative.

I currently keep a daily blog, http://capitalhd.blogspot.com/ titled Capitalism…Now In HD, an analysis of economics, the Fed, Investing and markets.

I have a degree in economics and I am an amateur investor, preparing to be licensed as an Registered Investment Adviser. I am drafting business plans for my own investment management firm.

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Alpha Industries Flight Jacket Bold, airforce grey, L

Posted by aviafrench on June 29, 2010

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Carrot & Potato Washing Brush

Posted by aviafrench on June 28, 2010

Carrot & Potato Washing Brush Brushtech: B238C Hard enough to remove dirt yet will not do damage to skins of carrots or potatoes. Also works well with other hard skinned vegetables. For sweet corn use our B239C brush.
Carrot & Potato Washing Brush

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Seven Best Practices to Developing a World Class Local Or Global Business Enterprise

Posted by aviafrench on June 27, 2010

Developing a profitable business in this global economy is not easy. Yet, there are common ingredients to any world-class organization. This article will discuss seven best practices for developing a world-class local or global business enterprise.

Inspiration

The first best practice to developing a better business is inspiration. Inspiration comes by way of visionary leaders who have the ability to define compelling corporate visions. Surprisingly, inspiration does not have to come from one charismatic leader. It is rather an ingredient bred into the corporate culture from top to bottom. One thing is clear: successful enterprises have a clearly defined purpose and go after it with all their energy and might. This kind of focus and energy draws top talent who are often more motivated by a task bigger than themselves than by high dollar salaries.

Initiative

Top organizations take the initiative in everything. They do not wait for clients to come knocking on their doors nor do they wait for new products and services to be devised. They make things happen for themselves.

Inclusion

World class businesses include their employees in the planning process. In 2000, Telefonica de Espana was in the midst of a bad losing streak. They hired a new chief executive who, after implementing some emergency measures to stop the bleeding, engaged staff members from every part of the company in the development of a new vision. By 2006, the company had enjoyed four consecutive years of positive growth.

Industriousness

Industriousness means to work hard. Inspired by a bold vision and included in the planning process, executives, middle managers and workers alike, from all levels of the enterprise, feel empowered to give their best effort to the cause of fulfilling the corporate mission. Wal-Mart founder Sam Walton may not have been the sharpest tool in the shed but nobody could out work him. It was due to his hard work and dedication that allowed him to set the tone for the most profitable retail outfit in the world. Former Coach John Wooden wrote, “I challenge you to show me one single solitary individual (or corporation) who achieved … greatness without lots of hard work.”

Innovation

World class companies do not rest on their laurels nor do they allow the industry to define them. Rather, top performing organizations define their industries. They are constantly looking for new ways to expand their enterprise. They set the standard for the future through innovation and research and development. When Apple had one foot in the grave, Steve Jobs came back and gambled on a bold new product now called iPod. Innovation drove Apple right back to the top of the heap.

Improvement

Enterprises that succeed in this world are constantly improving their products and services. This is based on the Japanese concept of kaizen. Toyota Motors have developed one of the most efficient and effective factory systems in the world because they have always been committed to continual improvement of every part of their assembly chain.

Investment

Top level organizations invest in human and material resources. They are not afraid to spend money if the return on investment outweighs the risk involved. Microsoft and Yahoo have had a difficult time keeping top talent from jumping over to Google because Google invests heavily in its people.

These days running a business of any kind can prove to be a daunting task. Learning the best practices of top performing organizations can propel your enterprise to the top of the heap as well. This article has briefly discussed seven practices for developing a world class local or global business enterprise.

Eric Coggins is an entrepreneur who balances his time between affiliate marketing and not for profit promotion. As an affiliate marketer he is a member of Wealthy Affiliate which is an online network with many excellent resources for running a solid home-based business. Read his review of Wealthy Affiliate at http://andrphilip.wordpress.com/my-review-of-wealthy-affiliate-university/ He also moderates The Best You .Org which is a site dedicated toward promoting the best qualities of life and society. If you need some extra encouragement, find helpful tips and inspirational videos at http://www.thebestyou.org/

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4 Things to Consider Before You Deploy SaaS

Posted by aviafrench on June 26, 2010

SaaS is short for software as a service. SaaS-based tech products are marketed as “hosted solutions” or “web based solutions”, or “on-demand”. The obvious advantage of the subscription-based access is that regardless of size, any company can potentially afford the best and latest business technology. The upfront costs of access are considerably low in comparison to costs associated with licensed software and purchased equipment.

The SaaS market extends across a variety of industries, including retail, healthcare, hospitality, non-profit, real estate, transportation, and professional services. Software applications support accounting/financial services, call center functions, business intelligence, enterprise resource planning, document management, customer relationship management, and more.

Affordable access, also known as lower total-cost-to-own (TCO), provides a strong appeal for the SaaS platform. However, there are contract terms, conditions, and restrictions that may not be suitable for everyone. Is it right for your business? This article looks at some key issues to help you assess the suitability of SaaS for your business software needs.

Be Clear On What Your Business Needs

This may sound like a no-brainer. However, it is worth stating. The best place to start with the decision for or against SaaS is your current and prospective tech needs. The temptation to look first at products and service providers is strong. However, starting with your business needs creates the best context for the choice of product and service provider.

Put your business in a position of strength by doing the necessary internal brainstorming. At a minimum, conduct a thorough needs assessment, including an inventory of current tech, usage, deficiencies, and redundancies. This will clarify issues relating to tech compatibility, short-term versus long-term needs, how to negotiate with the service provider on fees, renewal terms, and upgrades. The information gathered at this phase is vital to a successful SaaS implementation, one that aligns with your business goals.

Adopt a Comprehensive Approach to Cost Considerations

Cost is probably one of the first things that decision makers consider prior to investing in a new technology, especially one that is relatively expensive. This is both practical and understandable concern. SaaS allows the end user to deploy business technology at a relatively lower price without the costs of hardware, updates, and routine maintenance.

However, upfront cost should not be allocated a disproportionate weight in the decision matrix. Depending on the terms of the contract, the long-term cost of software access may include more than the subscription-related expenses. Additionally, the tax implications of subscription-based access versus conventional purchase need to be factored into the TCO consideration. Typically, there are tax advantages associated with licensed software and business equipment. Those advantages are generally eroded under SaaS.

Understand the Data Security and Regulatory Compliance Standards

The convenience of a web-based, hosted solution is a desirable benefit of the SaaS platform. It allows users easy access to business databases from anywhere they have Internet connection. Data sharing, including from multiple geographical sites is expedited.

However, associted with web-based access are concerns about hackers, data theft, and compromised privacy rules.

Securing your business data and ensuring compliance to relevant regulations are vital business functions. U.S. regulatory agencies, such as the Federal Trade Commission (FTC), hold each business accountable for the security of personal, sensitive information in their possession – even if the information is accessed and processed by third parties.

In this context, it means it is your responsibility to ensure that the SaaS solution provider complies with current appropriate security policies and procedures.

Read the Contract in its Entirety

As with all contracts, a thorough understanding of the pricing terms, escalation clauses, renewal, upgrades, penalties, connectivity issues, unplanned downtimes, and other required and optional service arrangements is crucial for beneficial SaaS implementation. A badly executed contract can translate into business interruptions, unexpected costs, and other undesirable consequences.

The easiest way to preempt contract-related surprises is to read the contract document in its entirety. If in doubt, it might be wise to seek the input of an attorney or look for another provider with less complicated contract language.

Conclusion

Relevance and affordability are important considerations in most tech deployment. In tough economic times, budgetary concerns take on added importance. Subscription-based access promises reduced total cost to own, which creates a high appeal for SaaS tech solutions.

To determine if that appeal applies to your business, it is important to conduct a thorough internal needs assessment, and take a comprehensive approach to pricing/cost. Appropriate security, and a clear understanding of the bold and fine prints of the service contract are also crucial to a successful SaaS implementation.

Rachel Agheyisi is an economist with over 25 years of business research, writing, and corporate consulting experience. She is the Executive Director of Report Content Writer, a company that specializes in writing white papers and case studies used by IT companies for generating leads in the biotech, financial services, and health care industries.
http://www.reportcontentwriter.com

Email me at rachel@reportcontentwriter.com on how I may help you develop content-rich white papers and case studies.

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