Business and Finance Articles

Your Business Identity

2007-02-03T01:24:00.000-08:00

Customer Service Is No Longer Enough
Too many organizations today focus on the image they have as opposed to their identity. Most medium and large sized organizations have some type of customer service training program for all front line staff. This training usually focuses on service and escalation procedures, handling difficult customer situations, and how to keep a positive attitude and smile when working with customers. Some organizations have facilitated their staff’s mastery of these skills and procedures. You will spot these companies anytime you have a problem. They immediately know what to do, who to call, and what their policy says they can offer you to try to keep your business and keep you happy. It’s impressive when it happens. In today’s world of international mergers and acquisitions, industries that are reinventing themselves and a more fluid change in staffing roles, business is faced with a new challenge: How to create and communicate a business identity to our customers. Good quality service will always be important to customers, but now they also want to know what and who they are dealing with in a business relationship. They want to know what you are in business for, what you believe in, who you partner with, and why it would be good for them to be a long term customer of yours.
Identity Versus Image
Image change initiatives have been getting kicked off in many organizations because the front line staff or the marketing people get customer feedback of this nature:
· Customer service is inconsistent or poor
· Your firm has merged so many times I don’t know who owns it or in which country it is based
· I don’t know who to do deal with
· It’s not clear which of your product lines apply to me
· Is your organization still financially viable?
Image is often symptom of the larger problem of business identity. The intrinsic values, beliefs and attitudes of the people and management of an organization will do more to shape the identity of the company, than the effect of any image change program. Image changing initiatives often do more to conflict with the real identity of the organization than improve it and usually cost a lot of money. The phrase, “inner beauty”, can be applied to organizations, just as it’s commonly applied to individuals.
Identifying Your Business Identity
To document your business identity you need to be able to answer the following questions:
· Who is running the company?
· What are the company goals?
· What are the company values?
· What are the customer responsibilities for each process?
· How do marketing and promotional materials describe the organization?
· What motivates employees to stay with this organization?
Improving Your Business Identity
Customers, processes, financial conditions and new leadership styles can all be reasons why organizations need to look at changing their identity. The “inner beauty” of an organization is developed by starting with the core and identifying strengths and weaknesses. To improve your business identity, begin by taking the following 10 steps:
1. Identify the leadership’s vision of “What are you in business for?”
2. Poll customers and employees to ask their opinion of #1 and do a gap analysis.
3. Review the organizational goals and objectives (long and short term) and identify which ones do not support the core identity.
4. Poll employees to obtain a list of perceived organizational values and the examples that led to these opinions.
5. Create a list of leadership values and beliefs and do a gap analysis with the staff results.
6. Analyse the processes, procedures and policies to determine which ones support or conflict with the desired values and goals.
7. Analyse product packaging including the way products and services are delivered to customers to determine which elements support or conflict with the desired values and goals.
8. Analyse current and planned marketing and communication tools to determine which ones support or conflict with the desired values and goals.
9. Create a consistent set of values and goals and communicate those to staff.
10. Prioritize the changes required from the analysis in numbers 6, 7, and 8 above and immediately start making the high impact changes.
For all changes you attempt to make, set up a customer and employee feedback mechanism to monitor that you are steering the identity consistently. Many organizations spend a lot of time and money creating annual goals, objectives and other organizations even try to list their desired value sets. The organizations that fail to meet the desired results often are the same organizations that have goal and value lists that are inconsistent with the true business identity. Be one of the organizations that learn how to develop and nurture its own inner beauty.

_______________________________

By Thomas Nash
Thomas Nash is an experienced project director for systems implementation projects, a business strategist, problem solver and a change leader. He is also an author, trainer, international public speaker and business advisor. He has run Xalles and its predecessor companies for over 10 years. He is a public speaker on 4 continents, and has provided business advice to more than 200 firms worldwide. Mr. Nash also trains companies using Xalles’ proprietary programs including “Successful Systems Implementation”, “Problem Solving POWER™” and “International Marketing for IT Firms”. His speaking experience spans conferences, associations and special training events, presenting to audiences of up to 800 people. His keynote speeches and multi-media presentations at conferences are generally considered the best in show. For more information about Xalles Limited please visit http://www.xalles.com.

Human Resource Outsourcing: The Ultimate Business Solution?

2006-11-07T00:54:00.000-08:00

For years now, many companies in and out of the United States have been practicing human resource outsourcing. Lower labor and operational costs, as well as the efficiency to which the tasks are finished are two of the primary reasons why this has become a popular business decision.
The question is, is outsourcing really the ultimate business solution?
'Defining Outsourcing'
Basically, outsourcing happens when a company entrusts specific tasks that should have been part of its internal operations to a supplier or a subcontractor which expertise lie in that field.
For example, a company will concentrate on manufacturing a particular product would not want to deal with the customer service side of the business. They will outsource the customer service needs of the company to an outside subcontractor which specializes in offering good customer service to its clients.
The company might require the subcontractor to answer calls or reply to customer e-mail messages and other related tasks. This is when the sharing of trust and responsibilities happen, that is why trust should be built between the client and the third-party or subcontractor.
'Human Resource Outsourcing'
Before concluding whether outsourcing is really good or bad for the business, take a look at the advantages of human resource outsourcing:
- Reduced Costs
There is such a thing as offshore outsourcing. With this, a company in the United States may outsource its customer service or manufacturing operation to a third part contractor outside of the country where labor costs are cheaper.
This is the main principle applied that is why a lot of companies do outsource part or all of their labor needs to a third party service provider.
- More Efficient Service
Because of the specialization of these third-party service providers, the quality of service required by a company can be consistently met.
Meanwhile, here is a list of the specific tasks which are outsourced:
1. Customer Service Functions
This is the most common type of service outsourced to a foreign country. With the emergence of the call center industry in offshore locations, labor and operational costs are easily reduced.
The services offered by third-party vendors include answering customer service inquiry calls, technical support, replying to e-mail messages, online support, telemarketing, sales and data gathering.
2. Research and Data-gathering Services
Data gathering, data analysis and research services can also be outsourced. On a smaller scale, a company who is building a web site might need content writers and web site developers. They can get outside help to get a lower cost for the writing and building of the web site.
On a larger scale, companies dealing with a huge amount of data that needs updating everyday will outsource the services for the data analysis.
Just like any other aspects in running a business, outsourcing has its low and high points. In deciding whether your company should outsource specific tasks to an outside service provider, make sure that you have weighed all of your options.
Consider the costs and implications in the quality of service that you will get. Once you have made an analysis as to whether the advantages far outweigh the disadvantages, then outsourcing might just prove to be the solution in pushing your business to the next level.

______________________________

By Dave Poon
Dave Poon is an accomplished writer who specializes in the latest in Human Resource. For more information regarding Human Resource Outsourcing please drop by at http://www.humanresourcesite.com/

Are Professional Translators Worth the Cost

2006-11-07T00:49:00.000-08:00

So the time has finally come and you've decided that you want to take your business to the next level and provide your product in Spanish. However, you don't really know the first step in starting the process. However, you do realize that you need to find someone that speaks the language so that you can start them translating your product information and marketing material into Spanish.
You don't really know what kind of requirements you are looking for in a translator so you just start searching online for someone that translates Spanish and English. You find someone that has good credentials, has a lot of experience in your industry and has good feedback from previous clients. You decide that person would be a good fit for your project, but before you hire him/her you look at what the translator charges. After you see what they charge, you decide that it's too much for what you want to pay.
You wait a couple of days trying to decide what to do and then remember that one of your nephews spent some time in South America in the Peace Corps and speaks a little Spanish. Maybe you could get him to translate your project?
Good idea?
No, way; no way; and NO WAY!
Thinking you can save costs and trust your business projects to someone who is not a professional translator is ridiculous. Professional translators are worth every penny you will spend on them to translate your projects.
If you choose to go with someone you know who isn't trained professionally as a translator, not only will you get an unprofessional result, you will most likely have to end up retranslating the work, which will more than double the cost of having had a professional translation done in the first place. Also, a professional translator is used to working with deadlines and will work to ensure that you get your translation when you need it. Someone who doesn't translate professionally will be a lot less likely to understand the importance of getting your project back to you when you need it.
In addition, if you decide to ship your product out with an inferior translation done by a non-professional translator, your reputation will suffer and, like the commercial says, you won't get a second chance to make a first impression.
So in the end, while it may seem expensive to hire a professional translator for your project, in the end it will save you both time and money and your business will be better off for it.

_________________________________

By Clint Tustison
Clint Tustison is a translator interested in helping other translators improve their businesses. His website, Spanish-translation-help.com is filled with information helpful to translators regarding the translation industry, and his free monthly newsletter, Translator Techniques, has tips and techniques for translators.

Strategic Planning Process

2006-10-13T22:27:00.000-07:00

In this article I will discuss complexity theory and complexity science. We will also look in to the positive and negative sides of the strategic planning process from different points of views.
There is a new scientific renaissance in the making. It will usher in new industries, alter how businesses compete, and change how companies are managed said Richard T. Pascale. He was referring to complexity science or complexity theory. Complexity theory deals with systems that show complex structures in time or space, often hiding simple, deterministic rules. This theory contends that once these rules are found, it will be possible to make effective predictions and even to effectuate control of the apparent complexity. Complexity theory, or, to be more precise, the science of complexity, is the study of emergent order in what are otherwise very disorderly systems.
A recent paper by Davenport in the MIT Sloan Management Review bemoans the lack of a Frederick Taylor or Henry Ford for knowledge workers. Organisations, according to Taylor, are like machines; people are like cogs in those machines. Processes can be stripped down and streamlined for greater efficiency. The best management, said Taylor, is a true science, resting upon clearly defined laws, rules and principles. Henry Ford took this line of thinking and applied it to the manufacture of cars, breaking down the industrial process into a series of repetitive tasks performed by semi-skilled but well-paid employees, working beside a slow-moving production line. In this way, Frederick Taylor’s ideas came to underpin many of the ways of doing things which gave rise to the new industrial age at the start of the 20th century. Natural science in the meantime has moved on. The deterministic, closed system world of Newtonian physics has been changed forever. Complexity theory views the world in terms of systems; not the linear, mechanistic systems of classical physics, but complex, non-linear, highly interactive systems complex adaptive systems in the language of complexity. Complexity provides a rich vein for new thinking on leadership and management. Perhaps Davenport is wrong. Perhaps there is a new science which is highly applicable to the leadership and management of professionals and other knowledge workers.
Businesses are complex adaptive systems, living companies according to De Geus; people are people, not cogs in a machine. While this is true of all businesses, indeed all organisations, somehow it is particularly true of professional services firms, in which traditional capital (plant and machinery, etc) is minimal, and human capital (people, their behaviour, practices, knowledge, etc) is dominant. Management guided by the principles of complexity science constitutes a style that is very different from the management model based on the ideas of Frederick Taylor. The type of leadership required is very different too.
Like traditional theory, complexity theory also concerns itself with processes and how these influence employee behaviour. The concept that procedures may be designed to motivate is arguable from a contemporary social science perspective. For e.g Herzberg’s hygiene factors, stated simple, that a procedure as a hygiene factor does not motivate. In terms of complexity as a dynamic system, Locke’s theory (notes that based on his values/agent/event factors, procedures do in fact motivate) offers both negative and positive feedback loops, providing non-linear causality and the possibility of internally generated cyclical behaviors and non-equilibrium.
The view of organizations as complex adaptive systems suggests that organizations gather information about their surroundings, themselves and their own behavior and then use this information for adapting to and coevolving with their environments. From the view of complexity theory organizations in which there are a large number of ties or connections, widely distributed, are more capable of variety in their behavior which in turn leads to adaptability. According to Weick, without such variety organizations will miss important data points, will oversimplify their view of what is happening in the environment, and will generally be unable to respond to the high levels of variation among elements in the environment.

______________________________

By Mary Anne Winslow
Mary Anne Winslow is a member of Essay Writing Service counselling department team and a dissertation writing consultant. Contact her to get free counselling on custom essay writing.

Marketing Strategies for the Holiday Season

2006-09-25T23:59:00.000-07:00

If you have been in business long you know that the bulk of your sales will come from the months leading up to and going through the holiday season. The time to start your marketing for this season is July or even earlier!
Online sales are expected to reach 12 billion dollars this year so be sure you get a piece of that huge pie! This is a 1.5 to 2 times increase over 1999 as more people adjust to online shopping.
Here are some ideas that could help you get a slice of that holiday shopping pie:
1. You could offer a free holiday gift with every order over $25 or any set amount.
2. Offer free or discounted shipping with every order.
3. Send Christmas cards to your mailing list offering them a special discount or deal.
4. Offer a gift wrapping service for your customers. Make their shopping as easy and hassle free as possible.
5. If you do home parties, have a Christmas shopping party to split the shipping costs and/or wrapping costs. Have a holiday themed party with gift certificates and free samples.
6. Start a gift referral club with other businesses. If a customer is looking for something you do not offer, give them a place they can get it and other businesses will do the same for you.
7. Have a holiday themed contest on your site to draw in more customers.
8. Work with charity. Offer $x off for everyone who brings in a old toy for kids' charity. For online shoppers have a donation button. This will attract customers as well as provide good publicity for your company.
9. Give a free holiday tips report out with every purchase. Provide tips on saving money, holiday decorating, etc.
10. Make sure everything on your site is working and up to date. Build a special holiday section for your holiday customers.
11. Have a gift ideas section for your shoppers who have trouble picking out gifts. Be sure and have gift certificates or cards available as well.
12. Mail out gift idea cards to your customers/mailing list.
13. Send out coupons with a chance at a free gift with every coupon returned.
14. Do not forget customer service. Provide a little extra for your customers so they come back for more.
15. Become the company with the most Christmas spirit. Donate a portion of all sales to a popular children's charity.
16. Provide a quality product at a good price along with good customer service and your customers are bound to remain loyal to your company.
Take these ideas and add to them. Once you start trying new ideas you will be able to think of more and more. Don't be afraid to try new and creative ideas. Test the results and keep track of what works and what doesn't. What might not work in spring might be very effective during the holiday season.
The holiday marketing season is a chance for you to expand your business and gain more customers, but you must give them a reason to come to you and then to come back to you!

_________________________________

By Terri Seymour
Terri Seymour has several years online experience and has helped many people start their own business. Visit her site at http://www.seymourproducts.com for resources, $1 resell ebooks, wholesale gift business opp, free affiliate programs & a free ezine with bonus report: 77 Ways to Get Traffic! mailto:subscribe@seymourproducts.com

Do You Use Sea Gull Management?

2006-09-05T04:55:00.000-07:00

I’ll bet you don’t have a clue as to what I am talking about – Sea Gull Management.
Let me give you a scenario. The typical manager flies into the department, rapidly flapping his wings while squawking loudly enough to hear it in the next building. He then squat shakes his butt, craps all over his employees and flies out of the department. For those of you with less vivid imaginations, it is when a manager delivers only bad news, never praise or positive feedback or recognition.
Ever worked for someone with this approach to management? De-motivating wasn’t it? Many managers just don’t get it. Most employees would like to be effective, do a good job and get their work done on time and right. Problem is, many organizations sabotage employee performance top-down and refuse to look in the mirror to determine the cause of this situation.
For over 30 years, I have consulted with hundreds of organizations in a variety of industries worldwide. Would you be interested to know what I have learned as one of the most common critical mistakes managers make every day? …Too little positive feedback and recognition, and poorly delivered negative feedback or discipline.
You get the behavior you reward. Behavior reinforced is behavior repeated. What goes around comes around. Doesn’t matter how you say it, the result is always the same. If you don’t like the behavior you are getting, don’t just look at your employees, but look at your management style, corporate culture and communication patterns to determine where part of the problem lies.
Remember: You will get more of the behavior you want with positive feedback – than by only giving negative feedback.

________________________________

By Tim Connor
Tim Connor, CSP is an internationally renowned sales, relationship, management and leadership speaker, trainer and best selling author. Since 1981 he has given over 3500 presentations in 21 countries on a variety of sales, management and relationship topics. He is the best selling author of over 60 books including; Soft Sell, That’s Life, Peace Of Mind and The Male Gift Giving Survival Guide. He can be reached at tim@timconnor.com, 704-895-1230 or visit his website at http://www.timconnor.com

Does Your Cleaning Business Have a Mission Statement?

2006-09-05T04:52:00.000-07:00

Along with a business plan, a mission statement is an important tool that will capture the spirit of your business. A mission statement helps to clarify the goals and objectives of your company. In just a sentence or two, the mission statement for your cleaning business will set your business goals, your underlying philosophy, and what special benefits you have to offer to your customers. A good mission statement will reflect that special niche that your cleaning business is catering to and provide a long-range vision for you to build on.
Following is a sample mission statement:
"ABC Cleaning Company is committed to delivering the exact services our commercial cleaning customers want, listening closely to their expectations, taking a pro-active approach in defining their needs, and building the best partnering relationship possible. We are also committed to acting with honesty and integrity at all times in all aspects of our business, to being professional in doing our job, and to delivering a consistent, high level quality of work."
A well thought out mission statement will take more than just a few minutes to develop - it takes careful thought and planning. Spending time developing those few sentences that define your business can be just as valuable as the final statement. Going through the process of evaluating your cleaning business, and then defining your customers and your services will help you to look at your cleaning business from your customers' perspective. Don't get bogged down with technical jargon. Focus on defining your company's strengths and why those strengths benefit your customers.
When you are ready to begin, sit down in an area with no distractions. To come up with the statements that will sum up what your cleaning business is all about, consider the following:
- What specific need does your business satisfy?
- What are the principles and values that guide you in the everyday operation of your business?
- Who are your customers?
- What level of service will you provide?
- What image would you like your business to portray to your customers?
To write an effective mission statement, sit down with those who are closest to your business and jot down notes to answer the above questions. Look at mission statements from other businesses and start brainstorming. Once you have a couple of key ideas draft those thoughts into complete sentences.
Once you have formalized your mission statement use it in your promotional materials. The statement will be a quick and easy way for your customers and potential customers to learn about your cleaning business. Keep your mission statement visible and live up to it everyday. This will show your employees and customers that you practice what you preach.

________________________________

By Steve Hanson
Copyright 2006 The Janitorial Store
Steve Hanson is co-founder of TheJanitorialStore.com, an online community for owners of cleaning companies. Sign up for Trash Talk:Tip of the Week at http://www.TheJanitorialStore.com Read success stories at http://www.cleaning-success.com

8 Free Advertising Ideas For Weird Ads

2006-08-17T22:52:00.000-07:00

In the wake of CBS placing advertisements on eggs (yes, it's true, CBS is placing ads on actual egg shells), I've decided to come up with a compilation of ideas for places to put a company advertisement.
Eggs are the last place that you would expect to see an advertisement. That's why, if you were to see an ad on an egg, you would stop to take notice. Advertising can work if people stop to take notice, especially if it's really weird and garners free publicity (like the body part advertising on eBay a little while ago). So, putting a business ad on an unexpected place can do wonders.
With that said, I've compiled a list of 20 free advertising ideas for weird places that you can place your company ad. To my knowledge, none of these have yet been done:

On top of coffee lids – You don't expect to see a marketing message staring up at you when taking that morning sip of coffee.
On a competitor's product - This may be difficult to do but if you and a competitor advertise on each other's products it would even out. This may attract free publicity, as well.
Inside the pages of books - Magazines have pages of ads, so why not books? There could be a special advertising section in books. This could provide very targeted advertising.
Straws - I've yet to see an ad on a McDonalds straw that I drink my Coca-Cola with.
Songs - We’ve seen product placement in movies and TV shows like Donald Trump’s The Apprentice, but I’ve yet to hear a product placement in a song. Imagine paying Britney Spears to sing about your product in the chorus of one of her hit pop songs that gets a lot of radio play... Hit me baby one more time – in the passenger seat of my brand-new 2008 Audi A4.
Beside the "nutrition facts" label of food products - This one might be geared more towards diet or weight loss types of companies. The people that actually look at these labels are probably more likely to notice that type of marketing message.
Emergency vehicles - Police, ambulance, fire trucks. That might be difficult to set up, but what better way for, say, a cash strapped police department to find revenue to hire more police officers than to sell some advertising space on their police cars?
Moon - I'm sure it can’t be done, and if it can it would cost too much. But, how about an advertisement on the face of the moon?

____________________________________

By Tino Buntic
Tino Buntic created TradePals to provide free advertising to business professionals and entrepreneurs across North America. Tino also enjoys reading blogs and two of his favorite blogs include AdJab and Jaffe Juice.

Convention Event Planning Services

2006-08-17T22:49:00.000-07:00

This is your first time to attend a corporate or business convention. You are quite amazed at how everything goes so smoothly and efficiently. You just cannot imagine how many people come and go about the place, and yet everything appears to be in order without anything out of place. You notice that there are no people running back and forth to make sure that the guests in this part of the hall are okay while trying to oversee if the group at the other end is having a good time.
One good thing about business and corporate conventions is that these companies and business groups have the resources to plan conventions with hired help. And who are these hired helpers? For sure, they are not people who are also from the same company that is holding that convention. Don’t you dare imagine these corporate people trying to plan and prepare for a convention in advance while at the same time trying to run their huge companies and firms!
Convention and event planning services are offered by several companies for those people who are too busy or too wracked up to plan and prepare for a huge event. These services employ a relatively huge amount of manpower so as to guarantee an orderly yet remarkable event, such as a convention or meeting.
Companies offering convention event planning services take care of all the important details entailed by their clients for their events. The responsibility for many things and details are left in their hands: venue, decorations, invitations, publicity, food and drinks, reception, giveaways, souvenirs, music, and a whole lot more. And even during the day of the event itself, these convention event planning service people are in place so as to oversee that everything is working smoothly and as planned.

________________________________

By Eddie Tobey
Event Planning provides detailed information on Event Planning, Convention Event Planning Services, Corporate Event Planning, Event Planning and Production and more. Event Planning is affiliated with Corporate Event Management.

There is a Leadership Difference

2006-07-31T05:39:00.000-07:00

I was standing around enjoying refreshments with a group of businesspeople recently. One asked, “Have you heard what XYZ Co. just did. The company mentioned is known as a hot, fast growth, quality company.” Everyone in the group leaned in a little to hear better.
A few minutes later, someone chimed in with, “Let me tell you what ABC Corp. did.” This company is known as a company with “problems.” Everyone snickered; some rolled their eyes waiting to hear about another goof up.
Since then, my thoughts have turned philosophical. I have been pondering:

Why do some businesses grow while others, in the same industry, with the same products and services languish?
Why is one company the industry leader in innovating new products, processes, or systems while others fall behind?
Who do some businesses have customers that are happy to extol their virtues while we hear customers of other companies bash them with glee?
Why do some companies have an “aura” about them while others create yawns?

I believe the answers lie in the quality of company leadership. Companies that forge ahead are focused on creating their successful future. They are able to state the reason they are in business and why they should earn more business. They communicate their vision well, and work hard to execute it. They are focused, not drifting.
It takes courageous leadership to create those hot companies. Leaders in those companies are carefully decisive. They have earned respect. They are able to inspire and motivate their staff to achieve what other organizations cannot even attempt. They have created a vision for their future and a path towards achieving it.
I wish there was a magic potion or elixir to turn the average mope into a courageous, inspiring, decisive leader but I’m not aware of one so I have to prescribe the next best thing – a quiet, peaceful couple of hours with a pad of paper and pen. Craft one paragraph that describes your vision for the future of your company and another paragraph that describes what the company must do to accomplish that vision and you are on the road to becoming the leader of a great company.

____________________________

By Larry Galler
Larry Galler coaches and consults with high-performance executives, professionals, and small businesses since 1993. He is the writer of the long-running (every Sunday since November 2001) business column, "Front Lines with Larry Galler" For a free coaching session, email Larry for an appointment - Larry@larrygaller.com. Sign up for his free newsletter at http://www.larrygaller.com

Project Management Consulting: Change Doesn't Have To Be Painful

2006-07-20T06:50:00.000-07:00

One constant in any field during the digital age is that change is constant. This has been said so much that it's almost cliche nowadays. The question is what, if anything, are you and your organization doing about it.
Is your project plan equipped to adapt to the ongoing changes and if not then that needs to be addressed within your overall strategic project management plan otherwise you will be moving at a snail's pace when all you other competitors are moving like the archetypal hare.
Next you need to worry about having very clear goals set forth and communicated to your team members. There's nothing like having a project with no clear leadership or vision and having it fall apart at the seams. Result? Wasting millions of dollars of company resources as well as the lives of many of the employees.
Although the previous scenario might seem a little doom and gloom it is actually very common within many big companies especially. Without having a clear vision for a project it will not get anywhere.
The next step is to really prioritize the projects within your organization. No matter how deep of a pocket your organization has, you will not be able to do everything equally well. Therefore you need to decide which projects are actually critical to not only the sustainability of your company but the long-term growth and prosperity of your shareholders as well.
Once you've decided which project or projects to work on you will then need to set written goals and strict timetables as a whole. Next, it's essential to delegate the appropriate tasks to the corresponding specialists that will be responsible for making those particular milestones. Have meetings with your core constituencies in order to make sure that the project plan is as comprehensive as possible without slowing the overall productivity of your group.
Finally you just wanna make sure that you have those postmortems and also incorporate project risk management plans where necessary.

________________________________

By Ryan Leibowitz
Consider hiring outside agents for project management consulting as needed. With the right team and program in place, incredible things can and will happen for you. Visit http://www.managethat.com/ for more project management information.

Leader or Manager?

2006-07-11T02:31:00.000-07:00

If it is your aim to move from simply being a manager to being a true leader, you will find out here how to go about it.
When you become a 'Leader' your word is your bond - you must know that when you speak, you will fulfill your promise to others and others will know they can depend on you. Think before you speak. Make a habit of under-promising and overdelivering. Always keep your promises. Think about the kind of person you would want to deal with and be that person yourself.
Leadership -v- Power
Don't make the mistake of associating supervisory positions, or seats of power, with leadership. This presumes that these two things are synonymous and while this can be the case, leadership and power are wholly separate issues. In reality, even if you are the boss, you may not have all of the power, or be capable of handling it, even if you did possess all of it.
For a while, we were told leadership was all about setting clear objectives and holding people accountable. Then the pendulum swung away to focus on "soft" leadership skills, such as empowerment, coaching and mentoring.
Of course, the reality is both are necessary. But that's usually too subtle a message for consulting firms. You won't catch them recommending free common sense as a solution, when they can offer you expensive and frequently more simplistic techniques. Consider this thought: mangers tend to push, while leaders tend to pull.
Ask for help.
If like many of us, you find asking for help difficult, allow yourself to reveal a certain amount of vulnerability. You may feel as if you are admitting a weakness that the world would not have known about, but asking for help shows you to be big enough to acknowledge that others hold information you value. And that can be quite motivating for the information-holder.
Thus you will discover that people who are able to deliver well-positioned requests for help are seen as very strong individuals. When you demonstrate the humility to ask for help, you earn the respect of others. Recipients of a heartfelt request for help are usually honoured by the request. In turn, we are strengthened by the very help that is provided. To make a habit of asking for help is to strengthen your leadership.
To be a Leader is not to be self-centred. You care about the interest of others. You will usually be a 'great servant' in the sense of providing a service of leadership. Even though in a high position, the leader doesn't mind serving other people.
You should write down your goals so you know where to reach them. You can not reach a goal that doesn't exist. When you see your goal written down, you will be able to see it and to reach for it. Can you imagine a game of snooker without the pockets to aim the ball? People know that they are great players because they know how to hit the target accurately. Without a target, how can anyone tell whether you have hit your target accurately? You must have clear, definite, written-down goals of your life if you want to become a great leader!
I believe with all my heart that you can be a real leader. Nobody is born a leader, but a great leader can be made! Apply these principals in your life and you will see a big difference and change in your life. Take steps each and every that will take you where you want to go, it's better than standing still and doing nothing.

_________________________________

By Peter Fisher
Peter Fisher is an expert Author and Publisher. He coaches and writes for people undergoing career change. Everything from deciding what you want to do and how to do it, by way of personal presentation to interview questions and answers are covered on the main website at http://www.your-career-change.com For leadership resources visit his consulting site at http://www.definition-of-leadership.com

Change Management and Competition for The Top

2006-06-21T03:40:00.000-07:00

There are a lot of change management issues at the top of any corporation and sometimes when there are many divisions with presidents we see all of them are vying for the chairmanship or presidency of the entire multinational conglomerate corporation. For instance let's look at General Electric under Jack Welch.
Many of General Electric’s divisions such as their commercial credit division, their energy products division, their medical division and their plastics division all had top-notch management and in each of these upper echelons was a man or woman who was at the top of their game. Each of these individuals was qualified to run the entire General Electric Company after Jack Welch retired.
Of course, Jack Welch and the Board of Directors had to hire one of them. Knowing that who ever they didn't hire would most likely leave the company and some headhunter would indeed make a huge commission to put them at the top of another company. These people were the top of the top of corporate management and everyone in the world knew it.
These top dogs who did not become the President of all of General Electric in the other divisions left the company for other companies. In doing so, everyone else moved up a notch. But this massive change management and severe competition for the top took its toll on general electric in the short term due to the management shakeup and therefore it is now studied at the top business schools of the nation. Change Management is a serious issue indeed. Please consider all those in 2006.

_______________________________

By Lance Winslow
"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/wttbbs/

Performance Management - Before Implementing a System

2006-06-21T03:37:00.000-07:00

Performance management is about controlling the performance of the organization. Most of the time this starts by the financial figures that are set as a guide for the company. We target a certain return on investment, an efficiency ratio or a profit per share ratio. These ratios provide a guide for management because they represent real targets.
The challenge is to link these financial figures to personal objectives, or personal performance criteria. Compare this with a project planning. The (overall) company ratios could be seen as the deadline of the project that you set at a certain point in time, but you still have no idea whether your human resources are able to finish this project, nor what would be a reasonable (resource) benchmark for this project to finish.
But the law of the market defines that we first set our target and then we assess whether we will make it. Pressure is a good friend in business but incredible deadlines will de-motivate.
The productivity matrix will help you in this area, because productivity is measurable at any level and takes into account the direct and indirect contribution to the output. But also in this case you should only implement such a heavy (performance) measurement system if you are going to finish it. The comparison with project management is again very useful; you should (only) implement project management when the risk of missing such a mechanism is bigger than the overhead (costs) that you add to your business.
A step towards a formal performance management system is to address those issues that are key for your business. And these are normally also the issues that are not easily to set performance indicators for. Image that your football team is losing. The performance target is not met. But then, what could have been improved; the defense, the attack or somewhere in the middle, connecting both ...? If you know this, you know how to improve your performance.

__________________________

By Hans Bool
© 2006 Hans Bool
Hans Bool is the founder of Astor White a traditional management consulting company that offers online management advice. Astor Online solves issues in hours what normally would take days. You can apply for a free demo account

What Is Your Business Strategy?

2006-06-02T00:53:00.000-07:00

Unfortunately too many small businesses never think about strategic panning, just getting through today seems to be the goal. There are times when this is the right thing to do, but if you never take time out to manage where your business is going, and how you will take it forward; you will always follow the competition.
In many cases, businesses know where they want to go, but just don’t know how to get there and so avoid making a deliberate strategic plan. There is a government fact that 4 out if 5 businesses do not survive past the 5 year mark, unfortunately the reality is, that most business owners so not envisage how hard it is to run a profitable business, and therefore only the most dedicated and best run survive.
This can be good news for you though, look at the businesses that have survived past 5 years and discover what their strategies are. Businesses over 5 years have had time to make their mistakes and refine their operations. By doing this you can cut down on your mistakes that equal time and money and focus on doing things right first time. How do they market? How good is their customer service? What image do they portray? These are examples of what strategies you can borrow.
There is one more step though, why not focus some time on the businesses that also failed. Find out what their strategies were and see if anything relates to your business and of course avoid these like the plague.
It is true that some businesses are started on the basis of being different to everyone else. These enterprises need more thought and input at the early stages and even if the way you do things were different the outcome would probably be the same. To keep your customers so happy that they came back to you, time and time again.

_______________________________

By Mark Flanighan

Taking Off Without a Business Plan

2006-06-02T00:52:00.000-07:00

Would you board a plane with no particular destination in mind?
If so, then feel free to build your small business without a business plan because you'll end up where ever the pilot chooses to take you.
As much logic as "airline travel without a destination" has, it probably won't convince you to create a business plan for getting you to where ever you want your small business to take you. There's something about human nature that defies logic. Perhaps, reading articles like this on business planning will cause you to think about the value of a plan for your small business. Or not.
You might want to start by writing or typing out your thoughts about the best ways to get your small business to its chosen destination. Don't dwell on any one thought just get them on paper. As you move your ideas onto paper you'll spot areas you'll need to explore in more detail. At least you'll be taking off with a sense of direction.
As you fill in the details of your business plan you'll gain more confidence in reaching your destination. Now, as you board the plane, you'll be in a better position to tell the pilot where you want to go. As in your business, it's OK to hire people with more expertise than you have and even ask them for advice, but it's up to you to select your ultimate destination and the best business plan for getting there.

_________________________________

By Don Osborne
Don Osborne authors The Profit Puzzle course to help you plan, finance, start up, run, grow, sell your small home based business ideas. The web site's small home based business directories link articles, books, courses, products, services, web sites, blogs, and software covering objectives, management, finance, personnel, marketing, operations, production and resources. For your free course and directories: http://www.profitpuzzle.com.

Reward Credit Cards - An Introduction

2006-05-26T02:08:00.000-07:00

The competition among credit card companies is intensifying by the day and in order to beat the competition, card issuers are coming up with new offers and incentives to entice customers each and every day. Reward credit cards have gradually evolved in this race for survival among credit card issuers and banks. Why would reward credit cards, which were once issued only to the loyal customers of a credit card company, be promoted and distributed in such large numbers? Well, market conditions have pressured credit card issuers into providing newer more compelling credit card offers, allowing the common man on the street to gain immensely from the newest and best reward credit cards currently available. This article will describe the various types of reward credit cards, features, benefits, tips for use, and things to watch out for maximum advantage.
In essence, reward credit cardholders are entitled to receive rewards based on the points he or she gains through their card purchases over time. The most common types of reward credit cards seen in the marketplace are air miles credit cards and cash back credit cards.
Air miles credit cards provide air miles for each dollar spent using the card and allow the user to redeem the accumulated miles for hotel accommodations, air travel or car rentals. Such offers are especially beneficial for those who are frequent fliers. Cash back credit cards typically give back a set percentage of total purchases as a cash rebate based on the total bill, either monthly or annually.
Who Should Be Using a Reward Credit Card?
Although the credit card companies are undoubtedly aiming to profit from every type of credit card they roll out in the market, one can expect some economic advantages behind the reward credit cards for consumers as well. Reward benefits for cardholders are usually offset by higher interest rates and additional fees and surcharges that exceed what a normal credit card might incur. Reward credit cards are best suited for individuals that can confidently pay off their card balance each and every month so as not to incur finance charges by carrying a balance. The points that you earn from your purchases can be built up progressively but are better suited to individuals or businesses that use their cards often and are probably not best for those who use credit cards very sparsely primarily because by the time the cardholder builds up enough points for a viable reward redemption, many times, the expiration date on those points will have already expired.
Tips for Use
So if you do plan on acquiring a reward credit card, to get the most out of the card, you should try to use it extensively, including virtually every bill you pay, including electricity and gas bills, phone service expenses, weekly grocery shopping, and internet and cable TV, etc. If you are financially sound enough to make the repayments in time, there are even some reward credit cards that will allow you to charge your mortgage or rent payment on your card.
Also, it is a good idea to apply for an add-on card for your spouse and distribute the spending on both. This way the customer could gain more bonus points for the same expenditure and hence better rewards.
To sum it up, the trick is quite simple, use your reward credit card as often as possible (well within your repayment ability, of course), always pay off the card balance at the end of each month, and reap the reward benefits.
Finally, before concluding, a word of advice; prior to applying for a reward credit card, do a bit of research to see which companies are offering the best reward credit cards and which among them is the most advantageous for your personal situation. The Internet provides a wealth of information on various card types and offers so be sure to utilize the information available online. A little bit of homework will make all the difference in your reward credit cards selection.

__________________________

By Robert Alan
For more on reward credit cards, Robert Alan recommends that you visit CreditCardAssist.com

Strategic Planning Workshops

2006-05-26T02:01:00.000-07:00

Participative Strategic Planning Workshops have come up as a welcome endeavor. They help in maximizing organizational resources, alongside promotion of creativity and innovation emerging from the coming together of various groups with different ideas and plans. Thus, such interactive and participative Strategic Planning Workshops provide a thrust towards the proper implementation of strategic plans.
Workshops of this kind help pool resources for understanding the goals and objectives of the participants. This can be shared by the community at large, and prove to be useful. Participative workshops and community projects involving a wide range of participants who have an interest and stake in the project are likely to have a good chance of being successful.
The equality among participants serves as the key to collecting the most appropriate and effective community resources. A successful workshop leads to greater commitment from individual participants, who are owners of the project, too, in their own right.
Participation as a group involves adhering to a common program and strategy, and a commitment towards achieving commonly decided goals and targets. This gives a boost to group and community spirit, and instills a sense of pride in the participants. It is via workshops involving a wide range of views that more fruitful decision-making is made possible, and comprehensive programs are chalked out towards Strategic Planning. Since Strategic Planning is an ongoing process, these educational workshops are stimulating and prove invaluable when arranged from time to time. In addition, they keep employees updated as to what new events and conditions will be affecting the company and, by extension, their lives at the company.

_____________________________

By Jennifer Bailey
Strategic Planning provides detailed information on strategic planning , non-profit strategic planning, strategic business planning, strategic media planning and more. Strategic Planning is affiliated with Strategy Games.

Relationships – A Stock Market Game

2006-04-28T06:56:00.000-07:00

You’ve moved out of your parent’s house and you’re finally on your way to financial freedom. There’s one thing you don’t have yet to complete your life goals. A relationship. Relationships are funny in way because every person you meet may like you, hate you, or have no idea what they think of you. That’s the beauty of dating. But after a while you soon realize that you can’t save money like your pals and you’re soon deeply in debt.
What a lot of people don’t realize is a relationship is an option in life. People may look at you differently if you don’t date but soon after awhile, you may notice a nice return on your money and little less stress on your life. I’m not saying to drop relationships completely but I’m trying to recommend that relationships are a temporary debt relief strategy.
Let’s take a scenario here and chart out the numbers. Say, you meet a partner and you decide to eat out three times within the week. You’re going to be the nice fellow and pay for all three. The dinners will average forty bucks a dish totaling out to be one hundred and twenty dollars. The next week, you get a phone call and that relationship is now over. If this pattern keeps going, that’s $6,240/year. After that full year, you’re still single, $6,240 poorer while the other man working on his career track and investments is now $6,240 richer.
Now, you’re probably getting the idea that I’m sexist. I’m not. When people get into debt, they try to see where the money is going. Credit cards, clothes they don’t need, and food. They don’t open their eyes and realize it’s on the worthless dates they go on week after week.
After all this, I’m sure you’re still thinking “Hey, I’m still going to date, money is not as important as love and I don’t want to be lonely my whole life.” That’s great, you have to have an optimistic view on your future and plan accordingly. While you still try to find that partner, you are going to have to write all your expenses down on paper and include “relationships” as one of them. This is of course, if you’re single and dating. If you’re married, you shouldn’t be reading this article anyways. Once you figure out your “relationship” budget, you will then be able to determine how much you can spend on movies, dinners, vacations, etc. This way, when the month ends and you look at your bank statement, you will be able to determine where the money has gone.
Of course, there are many other ways to save you money. Cutting back on your groceries, getting rid of the things you don’t need like satellite radio, cable television with the three hundred channels, or just eating at home.

_________________________________

by: Tom Tessin

Tom Tessin is the founder of http://www.gotalkmoney.com.

Flexible Payment Mortgages

2006-04-26T06:22:00.000-07:00

With most mortgages, your payment is the same every month. But what if your paycheck isn’t so regular? Would you like to be able to vary your mortgage payment depending on your cash flow? An option ARM -- also called a flex-ARM or pick-a-payment loan -- allows you to do just that.
How does it work?
An option ARM is an adjustable-rate mortgage with a twist. You don’t pay a set amount each month. Instead, the lender sends a monthly statement with up to four payment options. You simply choose the amount you want to pay that month and then submit your payment.
The options vary, but here’s the most common menu:
Minimum payment: This is calculated using an “initial” interest rate that can start as low as 1.25 percent. Because this payment is so low, it’s useful for months when you don’t have much cash on hand, perhaps because you are waiting for a commission or bonus check. But any unpaid interest gets deferred, or added to the principal of the loan, so your principal grows.
Interest only: You pay all the interest due, but none of the principal. This doesn’t reduce your mortgage balance, but it allows you to avoid deferring interest.
30-year amortized: This matches the monthly payment of a mortgage amortized over 30 years at your current interest rate. It includes both principal and interest.
15-year amortized: The same as above, but amortized over 15 years. This is the highest monthly payment. Choosing it allows you to reduce your principal faster than any other option.
The fine print
The biggest caveat with option ARMs is that those enticing initial rates are short-lived. The low minimum payments that make these mortgages so attractive can increase dramatically. In addition, every five years, the loan is recast -- that is, a new amortization schedule is drawn up to ensure that the remaining balance will be paid off by the end of the loan’s term. When that happens, the minimum payment can be pushed even higher.
What’s more, if you defer too much interest, you can reach what’s called negative amortization. If your balance grows to 10 percent to 25 percent (depending on state law) greater than the original principal, your loan is automatically recast and you have to start paying the fully amortized rate, which will increase your monthly payments.
Another potential downside of option ARMs is that they’re more complicated than most other mortgages. Home buyers may be seduced without fully understanding how much the minimum payments will increase over the long-term. When the monthly amounts go up, these people can experience payment shock.

________________________________

by: LendingTree Editorial Staff

The editorial staff at LendingTree is committed to helping consumers become smarter borrowers. Visit http://www.lendingtree.com/cec for more information and tips on buying, selling, and financing a home. Copyright 1998-2006, LendingTree, LLC.

Relationships – A Stock Market Game

2006-04-26T06:19:00.000-07:00

____________________________

by: Tom Tessin

Tom Tessin is the founder of http://www.gotalkmoney.com.

Freelancing Accelerates Ahead!

2006-04-15T03:14:00.000-07:00

Business beyond Boundaries
As businesses race ahead in search of increased profits and larger markets, they increasingly need to hire experts with minimal training & management costs. They also want to retain the freedom of employment flexibility i.e. ability to change experts on hire, should the business plans change suddenly. Hence freelance experts are a smart decision for a growing majority of corporate in to today’s era of globalization where people talent and not geography is the limiting factor. These freelance experts are hired across levels, departments and countries where technology is fully harnessed to share insights/knowledge/expertise in a mutually beneficial relationship.
As the world of virtual/freelance employees gains momentum businesses everywhere are recognizing the benefits of this democratic way of working. What's driving this trend? Business owners are discovering that there's often a better value for their dollar when they hire freelancers. And they're able to choose from an almost unlimited field of skill-sets for each specific project they need help with. With the freelance industry worth millions of dollars worldwide, as a freelancer, you have the ability to start a profitable business with a very low investment as well as have the flexibility to work almost anywhere, anytime.
Omnipresent Freelancing
More recently, however, a more fundamental change in the organization of work has been made, encapsulated in the concept of continuous change in the flexible firm. In this workplace of today which thrive on continuous improvement of quality and productivity thanks to empowered freelance / consultants / experts who do not want to weighed down by designations and other hierarchical blockades. In this fluid arena of high growth there is a need for both higher and broader skills which is easily filled by a growing band of specialized free agents / freelancers because of the following:
1. human resources: people, especially, the young, are much better educated than previously and more ready to take stretch initiatives and responsibilities.
2. markets: consumers are now more demanding and no longer willing to accept simple, standardised services/products, but are looking for innovation, variety, novelty and high quality –the specifications of which are continuously evolving.
3. new technology: especially IT/Telecom have begun a virtual revolution making global collaboration on a real-time basis a functional reality. This has led to a fundamental shift in the rate of skills renewal / multitasking, transforming the earlier of the way work management.
Win-Win Freelancing
Until recently, there was a definite stigma attached to freelance recruitment. Freelance was often associated with words such as inexperienced, unfocused, risky, etc. However, due to the boom in the requirements of skilled candidates in almost all sectors and new screening processes brought on by recruiters , and other specialize skills marketplaces/portals -‘freelance’ has taken on an entirely different connotation. No longer are freelancers judged as the people who cannot get a permanent job.
The new perception is that freelancers are highly skilled and efficient workers who can easily deliver miracles – there is a definite newfound sense of trust and confidence in the services that freelancers provide. Growing number of freelance options and talent is available at third party marketplaces which provide ideal linkages to both ends of the value chain i.e. service seekers as well service providers. Within any industry, freelance has become a very realistic and desirable option for many candidates – even candidates who are leaving permanent positions are now happy to look at freelance work – demonstrating a marked change in old employment models. For some, freelance has truly become a way of life – mirroring the work life balance issue that has become very prevalent in many other professional occupations.
Organizations are also starting to realize that freelance recruitment can offer them an economic advantage and sometimes give them an “edge” – a necessary thing to have in this very competitive market. Using freelance workers means that there is less financial commitment on a project-by-project basis, and less investment is needed – with a limitless ocean of skill sets with unmatched levels of scalability which is a great financial incentive for any organization concerned with its bottom line.

__________________________________

by: Parveen Panwar

Parveen Panwar is founder of Go4outsourcing.com. http://www.go4outsourcing.com is an online freelance marketplace to connect service buyers with freelancers/service firms. Freelance web developer, freelance programmer.

Compare Balance Transfer Credit Cards to Find the Best Deal

2006-04-15T03:12:00.000-07:00

So you took advantage of one of those credit repair credit cards with higher interest rates to help you repair your credit?
Or perhaps you missed a payment or two a while back and are now saddled with a fairly large balance on a high interest credit card. Maybe it was your first credit card, and you're still paying the interest rate offered to those with no status credit. No matter what the reason, you've got a credit card balance on which you're paying interest rates higher than average, and you'd like to cut those monthly payments. Welcome to the world of balance transfer credit cards.
Balance transfer credit cards are credit cards that offer a special interest rate on accounts transferred from another credit card. Essentially, when you take advantage of balance transfer credit cards, you're borrowing money on your new credit card to pay off the balance on your old (higher interest) credit card, then repaying the new credit card company at a lower rate of interest. 0% balance transfer rates have been a popular incentive for credit card companies to attract business for the past several years.
Lately, though, many credit card companies have found that offering 0% balance transfers is a losing proposition for them as customers play credit card shuffle, moving their account balances from one card to another whenever the 0% interest rate ends. In order to combat that practice, credit card companies are getting more creative with their balance transfer credit cards. That's why it's important to compare balance transfer credit cards to be sure you're getting the best possible deal - or at least one that actually will save you money in the long run.
Here are some things to watch for when comparing balance transfer credit cards:
How long does the introductory balance transfer rate last?
The 0% balance transfer interest rate is usually an introductory rate. As long as you pay off the entire balance within the introductory period - usually six to nine months - you pay no interest at all on the amount that you've transferred.
How much is the balance transfer fee?
Often, there's a charge for transferring your balance from one card to another. Be sure to include that fee in your costs when you compare balance transfer credit cards.
What is the interest rate AFTER the introductory period ends?
The introductory rate will end eventually. How much will you be paying in interest after it ends? Will that apply to the entire balance, or just the amount left on your transferred balance?
Are there other restrictions?
The newer balance transfer credit cards offer other incentives than 0% interest rates on your transferred balance, or may include restrictions to how long the balance must remain on the card. Many of the new balance transfer credit cards offer an interest free second year, or a one-month free payment rather than a 0% transfer fee as a way to get around the credit card balance shufflers. When you compare balance transfer credit cards, be sure to make a note of any restrictions on the balance transfer offers.
So you can see it's important to compare balance transfer credit cards to check the best deal. At www.moneyeverything.com/cards you'll find all the latest no interest balance transfer credit cards, along with details so that you can compare balance transfer credit cards to be sure you're getting a deal that will save you money.

____________________________________

by: Jon Francis

Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the credit card UK market and now helps others get the best from a credit card. For more information visit http://www.moneyeverything.com.

Motivation Equation and Orientation

2006-04-03T05:14:00.000-07:00

While the inspiration approach is certainly the more appealing of the two motivational methods, sometimes there has to be an element of “desperation.” I don’t mean that you want to cause your team members to feel despair, but sometimes things that push us away have to be present just as much as things that draw us near. The main reason for this recommendation is that if inspiration isn’t quite enough, your prospects may just simply fall into inactivity. That is, they fall into a comfort zone.
I’ve developed a grid that maps out the different motivators, their varying degrees and the effects they have on others. Draw a horizontal and an intersecting vertical axis on your paper. On the left of the horizontal axis, write “Desperation.” On the right of the horizontal axis, write “Inspiration.” At the top of the vertical axis, write “Internal” and at the bottom of the vertical axis, write “External.” In the Internal Inspiration quadrant, write the letter “A.” In the External Inspiration quadrant, write the letter “B.” In the Internal Desperation quadrant, write the letter “C.” In your last quadrant, External Desperation, write the letter “D.”
The central region is the comfort zone, where we experience complacency. How do you get someone on your team to move outside the middle? Let’s start with the short-term, easy form of motivation, quadrant D, where we find external desperation. You apply an external pressure to force someone into action. In other words, your team members must do what you say or they’re fired. “Hit these numbers or pack your bags.” Sure, it will work temporarily, but long-term consequences will result.
The next area of the Motivation Equation is quadrant C, where we find internal desperation. Desperation motivation can be made internal if you can use your prospects’ sense of duty or obligation to get them to move. Internal motivation works something like this: “I’m getting paid, so I guess I have to do this. If I don’t do this, the team will miss its quota.” You can see that in both of these examples, the person is acting of her/his own initiative but only out of obligation or to avoid a worse consequence.
So, is there a place for either of these latter two motivational approaches? Yes, but use them sparingly. Most teams will not put up with this treatment unless they know it is tough love. Every once in a while, when other things have failed, you can use these types of motivation. You have to let your team know not only that there are positive consequences for their actions, but if they don’t perform, there may be negative consequences as well. There has to be a baseline or a standard from which to evaluate the situation. Your team members can’t think that no matter what they will always have a job. Let’s face it—sometimes we all need a kick in the pants. When we do resort to this approach, it’s usually a negative circumstance based on desperation. Just don’t go overboard or take it to the extreme. Make sure before you use any negative reinforcement that your sales rep has the tools s/he needs to get the job done. Does s/he need more training? Does s/he know exactly what you expect and how to do it?
The next quadrant is quadrant B, where we find external inspiration. Here, it is still external factors that influence you, but this time in a positive way. You are inspired and energized rather than acting simply to avoid pain. External inspiration is getting on the right motivational track because it can grow into internal inspiration. Sometimes, this quadrant is referred to as “borrowed light.” It’s OK to be guided and inspired by borrowed light until you’ve lit your own flame. At least this kind of motivation keeps you progressing in a positive way. Even with external influences, this type of motivation can produce long-term effects because it is inspiring and thus begins to tap into your inner emotions.
The best type of motivation is internal motivation, as shown in quadrant A. This quadrant is what we call passion. There’s no stopping the person who has found inspiration that is purely internally driven. You can wind her/him up and s/he’ll go on forever.
Hopefully, this chapter has given you lots of ideas on how to help individual team members as well as your team as a whole feel more motivated. As I said earlier, this material will apply to certain people in certain situations and will help them learn to find the right tools. The point is, you possess the knowledge and are equipped to take on any situation. Review this chapter anytime you need to give your team a boost, or even just to keep current momentum going. Of course, any of these suggestions may be adapted to suit your team’s specific needs.
Questions
1. Why is the mindset of your sales force the foundation of your success?
2. What are three ways in which you can praise and recognize your team? How will you implement these strategies?
3. Gallup Consulting Group has spent more than two decades interviewing hundreds of thousands of salespeople in an effort to help corporate clients form and develop their sales teams. Its findings suggest that the top four qualities of top-tier producers are:

1) solid closing skills;

2) self-motivation;

3) strong work ethic and

4) excellent people and relationship skills.

How can you implement these four qualities into your sales team?

_______________________________

By Kurt Mortensen
Kurt W. Mortensen is one of America's leading authorities on persuasion, motivation and influence. Kurt spent 15 years researching personal development and motivational psychology and is currently a professor on the university level. He offers his speaking, training, and consulting programs nationwide, helping thousands achieve unprecedented success in business and personal endeavors. Kurt is author of Maximum Influence a bestseller and is endorsed by Stephen R. Covey, Brian Tracy, Robert Allen, and Mark Victor Hansen. Go to http://www.prewealth.com/iq to find out where you rank in your ability to persuade or email askkurt@persuasioninsitute.com.

Five Steps to a Successful CRM Implementation

2006-03-30T05:09:00.000-08:00

For the professional services person, some iterations of CRM may be confusing - many are slanted toward automating customer service operations. But never fear, there is a whole lot more to CRM than fielding service calls. In fact, a new breed of CRM is quickly becoming a powerful solution for professional services firms, especially those with management teams that want to leverage firm-wide intellectual property to grow their client base, improve productivity and maximize profitability.
Unlike accounting or HR solutions that are primarily used by highly trained and skilled personnel within a single department, CRM is an enterprise application that is used by virtually everyone across the firm. When deployed in an organization, CRM solutions aggregate vast amounts of information to create a pool of knowledge that can be used to prospect new business, validate leads, analyze processes and more. Sounds great. But the question remains: how can a firm ensure success? Following are five simple steps that can help put your organization on the path to CRM success.
1. Remember that Culture is King – A CRM solution is more than a new software package. It also encompasses a mindset, a way of doing business and a way of interacting with others in the firm. The success of a CRM implementation rests on the shoulders of a workforce that is willing to share information about clients and contacts. However, this "collaborative" mentality flies in the face of the culture within some professional services firms. For better or worse, many professional services practitioners are skeptical of sharing contact information for fear of losing opportunities to generate work that they can produce themselves. However, if a CRM implementation is introduced to the workforce as an opportunity to create new opportunities for all, success rates will improve significantly.
Consequently, it is especially important to publicize instances when shared information benefits the firm-at-large. Management must work toward creating a culture that is based upon "the greater good" rather than "individual gain." To reach this goal, users must see proof that the information they share will be used to improve operations and add new business that will benefit all members of the firm. It may take some time, but such a culture shift is worth the effort.
2. Set Realistic Goals – One of the greatest mistakes a management team can make is to force-feed new technology across the organization. This is particularly true with a CRM implementation. As firm management prepares for a CRM rollout, planning and patience are critical. Working with the implementation team from the software developer, management should agree upon a plan of phasing software use across the firm. Some organizations orchestrate a CRM rollout by location, others by practice group or department. Regardless, this type of phased approach gives both the firm and the implementation team an opportunity to make adjustments, manage expectations, achieve milestones and promote successes.
3. Obtain and Maintain Senior Management Support – Successful CRM implementations start and end at the top. Firms simply cannot achieve success without full management buy-in, nor can management set the process in motion and walk away. As a rule, successful CRM implementations are characterized as those in which management leads by example. Rolling-out a CRM solution takes hard work, but the benefits are substantial. Management should not sugar coat the process or minimize the effort involved. Similarly, as milestones are achieved, those same managers should be the first to strongly promote the benefits being realized by the firm.
4. Analyze Working Processes – The process of fitting a CRM solution into a professional services organization provides a wonderful opportunity to evaluate processes and procedures across the firm. Working with the implementation team from the software provider, firm management should review, analyze and evaluate the firm’s procedures as well as all of the data sources that will be migrated into the CRM solution. This is the perfect time to discuss and develop new procedures that will increase the firm’s success.
5. Select the Right Software Partner – While teaming with the right solution provider is important to every software implementation, it is absolutely critical when dealing with a CRM solution. The way CRM is utilized by a professional services firm differs greatly from the way CRM is used by a product-oriented organization. Therefore, it is critical for services-based organizations to choose a software provider that specializes in professional services solutions. Equally important is the software solution’s ability to seamlessly integrate with other business processes across the firm, including the firm’s financial and practice management systems. The ability to correlate client relationship management and new business development activities with firm financial performance greatly enhances the ROI generated by CRM.
Finally, firms should closely review the depth and breadth of consulting services provided by CRM vendors being considered. A CRM solution is only as good as the implementation methodology used to integrate it with a firm’s business processes. Make sure that the vendor you select can provide experienced and dedicated consulting staff members that will work with your team to ensure success.
A successful CRM implementation can help a professional services firm stay head and shoulders above the competition. Keep these five steps in mind, and you and your firm will be well on your way to CRM success.

_____________________________

By David Cowgill
David Cowgill is a Senior CRM Marketing Manager in San Francisco.

Life Insurance

2006-03-24T07:24:00.000-08:00

The idea of using life insurance to solve financial problems after death is almost as old as the hills. People have a tendency to approach this in a manner that can be described as too casual at times. Sometimes sufficient thought is not given to the impact on the family if the breadwinner, or breadwinners, do not own sufficient insurance to replace the incomes after death. It may be that people are so afraid of death that they develop some type of mental block. The amazing thing is that I see so many intelligent people who don't want to think about life insurance.
I have spent over 40 years in this business and I have seen families in pure panic after the death of their father and husband. On the other hand I have seen a wife bury her husband with such dignity and an open expression of love and respect for him that there are no words to sufficiently describe it. He left his wife and his children financially secure for the rest of their lives. They could continue living in the same house. The children could continue going to the same school, they could continue their same extra curricular activities, they continued wearing nice clothing. Money was available for college. All of these things guaranteed because the husband and father took the time to prepare for death. There was sufficient income for the wife he loved so deeply to live out her days very comfortably. Life insurance did not replace the husband but it kind of made him immortal in a way.
All this may sound like a fairy tale to many but ask any insurance agent who has been in this business for many years. Sometimes the beauty of the thing brings you to tears.
How can the average person do the same for their families. You first must decide how much life insurance you need...then start off with term life insurance. The reason I recommend this is not that I have any great bias against permanent insurance but term insurance is simply cheaper. Most people cannot afford permanent insurance. I have a passion for the 20 year term and the 30 year term policies. As you progress you can convert your policies if you choose to something like a universal life policy which allows for flexibility in premium payment as well as death benefit amount.
Take some time to examine life insurance and what product would best fit your needs.
For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and best life insurance companies in the United States as well as Canada. His advice is invaluable.

_________________________________

By Donald Lusan
Donald's website is: http://www.lifeinsurancehub.net

Put Together A Sales Forecast That Makes Strategic Sense

2006-03-24T07:22:00.000-08:00

Every year most companies go through the annual ritual of trying to figure out what their sales revenues are likely to be. Unfortunately, some will never get a good handle on it; they'll look over the landscape and make a few assumptions based on how sales grew last year, what they think the economy "feels like" to them, and what the prevailing trends have been over the past few months. Then they'll use a "Kentucky windage" approach of putting their finger up in the air and basically guessing at what their sales will be. You can't afford to be one of those businesses.
Determining where future sales are going to come from is one of the most important things any small business should focus on - and the process usually needs a little more science and a little less art than it is given. Ending up with a meaningful sales forecast involves actively thinking through what drives customers to buy from you, how that will change during the forecast period (whether you initiate the change, or it just happens), and how your small business is going to try to shape its world. It requires actively collecting and analyzing information that will make the forecast process more accurate.
Think for a minute about the sales and marketing resources you have at your disposal - and what you pay for them; it’s a more substantial number than you may realize, if not in dollar terms, then at least in terms of how you spend your time and what you worry about. If you're a retailer that markets heavily, or a business with a sales force, the cost of sales and marketing is obvious to you. But, even if you're a very small business, not making a huge marketing investment and without others selling for you, you're still putting a lot of your own time and energy into developing new business channels and it's probably one of those things that you find yourself thinking about, when you wake up in the middle of the night. The real question, though, is how you allocate whatever sales and marketing resources you have available to you - are you putting them to the best use?
The most productive way to approach sales forecasting is to look at three distinct groups that you can sell to - existing customers, prospective customers, and "the market" as a whole. The biggest potential usually lies in getting repeat or incremental business from customers that you have sold to before; prospects are those that you have some contact with in the past, but have not sold to, and "the market," of course, is everyone else that you might sell to, but have never had any contact with. Specifically think about how much business you can get from each of these groups next year and what portion of your sales and marketing resources, as well as your own time you are going to allocate to each group. Assume, for example, that 60% of your sales come from existing customers, 30% from prospects that you have been in contact with before, and 10% from "the market" that you have never been in touch with. Is that the way you are allocating your sales and marketing investment? If it isn’t, you might want to ask yourself why.
Any business, regardless of industry, or size, can adopt this "customer / prospect / market" approach for estimating future sales. A professional services company, for example, can start with an estimate of repeat business from existing customers and then estimate how it's non-billable hours will be used to develop additional business and what its "sales / non-billable hour" ratio will end up being. This will help you think through how many incremental "deals" you need and the average size of these individual contracts, or sales, to realize your overall sales target. A manufacturer, or a wholesaler with a sales force, can start with a similar estimate of repeat business from existing customers and then determine how many new customers, at what contract size need to be added to make up the difference between repeat business and the overall sales goal.
Retailers can essentially pull three levers to push their sales higher - average sale amount, number of customers, and frequency of purchases. Their sales forecasting job is sometimes a little more complicated, because of the large number of customers they service and the information needs they have. However, they can still take a similar approach. It's harder for retailers to differentiate between prospects they may have touched and the "market" they haven't, but they can track and estimate the repeat business potential and the incremental / new customer needs to reach a particular sales goal. They can also focus on how the product sales mix plays into their sales forecast and how they should apply their marketing resources to achieve interim sales goals, such as number, frequency, and amounts of purchases.
In all of these cases, though, and for every type of business, the "customer / prospect / market" approach can be the basis of an improved sales forecast. It is a little more difficult and it does require more information and tracking. But, to the extent your small business can adopt this approach, it will realize at least two benefits. First, your sales forecasting will be inherently more accurate and meaningful. It's based on trying to assess the factors that directly influence sales, not on guesswork. And, second, it forces you to take a far more strategic approach to forecasting sales. When you can tie together the capabilities of your individual business to understand, forecast, and generate sales from different customer and market groups, with the direction the overall market is heading and the factors driving that, you're doing some pretty good strategic thinking.
_______________________________

By Jim Deyo

Jim Deyo is the President of Business Advisor Online, an internet based service that provides small businesses with the ideas they need to grow and the resources they require to make the right decisions. As a former Sr. Vice President with a major banking institution, Jim worked extensively with small and medium sized companies and has over 30 years experience in commercial and consumer lending, accounting, finance, marketing, and strategic planning. Visit the website at http://www.businessadvisoronline.com and sign up for a six week free trial of the service, or e-mail Jim at jimdeyo@businessadvisoronline.com.

DOD Contractor Dumping Practices and Tactics

2006-03-24T07:21:00.000-08:00

There are anti-dumping laws in the United States but still it occurs, as one company enters a new market they will lower prices in a price war prone position and take it in the sorts just to get their butts in the door. Where is the most common market for this to occur?
Well in Department of Defense contracting of course. But why? The United States Defense Department pays top dollars for its hammers right? Well not exactly, but yes sometimes. What are you talking about you ask?
Well here is how it works; the US Military needs to upgrade some ships, tanks or planes and so it puts out a bid and many companies bid. Often they bid less than their costs to do the job. But why?
Well so they can get onto the base and work with all the people there and once they do those in charge will obviously need something else done and so rather than going thru a 90-day bidding process they simply give it to the company already there, already cleared and already on the property doing some other similar job you see?
The contractors know this is how it works and well everyone realizes it really. It is kind of an unspoken thing that everyone knows in those circles. Now then is this necessarily a bad thing? No not really and let me tell you why.
When outsourcing to government contractors the US Military is looking to save money and streamline things and they need a smooth transition. If a government contractor already knows what is going on and how things work around there, well then things go pretty smoothly.
Now then, let us all consider how the private sector works? Well it works much the same way and there is a good reason for it. Ask any supply chain executive or change-management consultant. You see, there is a thing called organizational capital and when a new company or team comes onto the property it takes a while to get everything working right and this is not as easy as it sounds.
Once that hurdle is over, the last thing you want to do is start all over again with another group. My article is in response to a GAO report I read which completely missed the point on this issue, so consider all this in 2006.

___________________________________

By Lance Winslow
"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/wttbbs/

3 Easy Steps to Positive Cash Flow for any Business

2006-03-24T07:19:00.000-08:00

Smart businesses utilize this technique to create opportunity and although this process is common many businesses do not know anything about it. Companies that sell a service or a product can take advantage of this to insure a positive cash flow.
Accounts receivable factoring has been around for more than 4,000 years. The term "to factor" can be defined as the act of buying or selling accounts receivables at a discount. Factoring is not a loan, as a result the process is simple, quick and a no-brainer.
Applying this definition to a business such as a staffing agency illustrates the technique in action, but remember this would also work for a business that manufactures a product, such as shoes or parts for an automobile engine, etc.
Staffing agencies normally invoice either bi-monthly or monthly depending on the contract or agreement. This creates a cash flow crunch for the staffing agency because once the invoice is submitted the client or customer normally has 30 days to make payment. The staffing agency has payroll to meet plus all the other expenses incurred while running a business. What happens if payment is not received in 30 days? Cash flow trouble!
Factoring the account receivable solves this problem. Once an account is set-up the staffing agency can immediately factor their invoice and receive money sooner rather than waiting for payment from their client.
This technique is used by some of the most successful organizations and there are only three steps that need to be completed to incorporate this technique into your business model:
1. Identify a firm that works with multiple funding sources to guarantee the best possible agreement;

2. Complete a simple worksheet to determine the best possible terms. Remember this is not a loan.

3. Allow the certified cash flow consultant to work with the funding sources to set-up an account.
This technique is incredibly powerful and the certified cash flow consultant is paid by the funding source that is ultimately selected. Learn more by visiting http://www.divergentgroup.com

__________________________________

By Greg Meares
Greg Meares is a certified cash flow consultant and principal of Divergent Capital Group (http://www.divergentgroup.com) He specializes in assisting companies with cash flow needs so they can grow and create a thriving business. Learn more by visiting http://www.divergentgroup.com

Quality of Management Attracts PR

2006-03-19T22:48:00.000-08:00

Late Friday afternoon, while watching Bart Jaworsky, associate mining analyst for Raymond James, discuss his three top uranium stocks on Canada’s ROB TV, it again became evident that the very best publicity is reserved for those with quality management. Readers will recognize Jaworsky echoing the very same themes, which have run through our commentary since June 2004, in every feature from ISL mining to U.S. uranium assets, and from the recent Wyoming series to the widely “How to Choose a Uranium Stock.” Jaworsky picked Energy Metals (TSX: EMC), UR-Energy (TSX: URE) and Strathmore Minerals (TSX: STM; Other OTC: STHJF) as his top three choices.
What attracts the big time publicity is the name behind the company. Often it is not the Chief Executive. If one were to speak to Gene Ramos, Reuter’s energy reporter based in New York, the first question he will fire back at you is: “Who is this person?” Translation: What has he accomplished? Bart Jaworsky astutely focused on “quality of management.” That is a lesson investors should learn.
For example, this past week, Strathmore Minerals was fortunate to have a triple play in publicity. On Tuesday, Lawrence Roulston, who writes Resource Opportunities, recommended Strathmore on ROB TV. On Wednesday, Bill Murphy’s Midas Report recommended Strathmore. On Friday, Jaworsky featured Strathmore on ROB TV. Who’s doing their public relations? In reality, the media attraction stems from the quality of management. When Spencer Jakab of Dow Jones (and Barron’s) wants a good quote about uranium, he turns to David Miller, president of Strathmore. Miller was chief geologist for Cogema’s ISL operations in the United States. Again, who are you and what have you done?
In the case of Energy Metals, when it comes to ISL mining, the engineer in charge of developing their U.S. assets is Dennis Stover. His claim to fame was designing the Smith Ranch ISL facility now owned by Cameco’s Power Resources. A review search of the ISL literature will inevitably turn up Dennis Stover’s name. Stover has proven himself, built a respectable reputation and inevitably will attract media attention at some point.
Finding a Wyoming geological textbook that omits the name of William Boberg, chief executive of UR-Energy, is easier said than done. His papers and presentations through the late 1970s and 1980s helped define the extent of Wyoming uranium geology. With previous experience at Conoco and Kennecott, as a uranium geologist, Boberg’s endeavors to bring his company’s Lost Soldier property into full production will, at some point, attract strong media attention.
What brings the media to a company’s door is not the tout by a self-serving, self-absorbed and megalomaniac newsletter writer, but all of the attributes we featured in “How to Choose a Uranium Stock.” Quality management, great (and proven) properties, hidden value in the company, and loads of cash help simplify an investor’s decision. Jaworsky warned about Kazakhstan, an area we’ve avoided coverage on because of the political climate (ditto for Mongolia). Focusing on North America reduces risk when it comes to uranium exploration and development.
In every uranium deal, there is a single individual who knows what is going on, as Bill Sheriff of Energy Metals advised us. If you want to know what is really happening at Smith Ranch, you talk to Patrick Drummond, the plant supervisor. He’s been in mining his entire life, having started off in the coal mines of Scotland. The Power Resources operation draws praise from Wyoming’s State Representative David Edwards and State Senator Robert Peck. The people who live in nearby Douglas, Wyoming speak highly of Power Resources.
At Uranerz Energy (OTC BB: URNZ), it is Glen Catchpole, who previously ran a Wyoming ISL operation, and helped develop Cameco’s ISL assets in Kazakhstan. Forum Development (TSX: FDC) has Dr. Boen Tan, who helped discover two of the Key Lake deposits in Canada’s Athabasca Basin. ESO Uranium (TSX: ESO) has precious metals geologist Tony Harvey advising the company. Perhaps it will be ESO’s Mikwam gold project in northern Ontario that puts this company on the map. With Forsys Metals (TSX: FSY), one turns to Graham Greenway, who previously compiled a resource estimate of FSY’s Valencia uranium property in Namibia for Rossing Uranium Ltd. Max Resources (TSX: MXR) has Clancy Wendt, who previously drilled the Utah property, and expects to again find uranium in the same place he found it more than 25 years ago. Mr. Anti-PR, Norman Burmeister of Kilgore Minerals (TSX: KAU), fails to boast about his stint as chief geologist for Silver Standard (NASDAQ NM: SSRI) or his former Bull Run gold mine. Yes, it is mentioned on his website. But, Norm is the kind of guy who quietly lines up a drill rig for his Idaho gold property, fairly certain he’s going to hit something big this summer. Then again, he doesn’t issue a wave of news releases to pump up his stock. These are the kinds of people the media just love to interview. They all have the “hidden” story that makes the reporter’s feature work for his readers, viewers or listeners.
These companies personify the qualities we investigate before writing about them in this column. Mainly, it is the quality of management that sets apart the possible winners from the likely losers. Everything flows out from that key point. If management really does know in which direction the company should be going, they’ll find the right properties. Fund managers will be eager to finance them. Investors will be less fearful about speculating on the company’s prospects. Eventually, even the most reluctant newsletter writer will be compelled to feature the company, or at the very least acknowledge the company has a shot. As long as the commodity price continues running higher, it becomes a win-win situation for those participating. Most of all, at some point, the mainstream media will stumble across such companies, or someone will bring the company to their attention. And then, you get the kind of rallies we’ve seen in Strathmore Minerals and some others.

_________________________________

By James Finch

James Finch contributes to StockInterview.com and other publications. His features on uranium stocks and the sector have been widely quoted across the world. His archived articles can be found exclusively on StockInterview.com at http://www.stockinterview.com James Finch welcomes feedback from you and can be contacted at jfinch@stockinterview.com

You're the Expert, You Fire Him!

2006-03-19T22:46:00.000-08:00

Steve and Ellen had three children: a daughter in New York, another daughter in California, and a son who had stayed around to work in the family company.
The couple ran a manufacturing company in Indiana started by the husband's father.
Although he was in his nineties, the grandfather still came to the office every day (during the parts of the year when he wasn't in Florida).
Like so many family businesses, there were three generations involved simultaneously. The problem? The successor: Steve and Ellen´s son, Stevie.
His attitude, now that his sisters had moved away, and since he had stayed in their home town and worked for the company, that it was natural that he take over the business, and it did not matter to him if he worked hard or not, because someday, it was all going to be his, anyhow. It was his birthright.
As you will see, however, the people involved in this story seem to believe that the purpose was patently obvious. It doesn't need to be discussed. As a result, members of three generations of the family have quite different individual interpretations of what that purpose obviously is.
On my first visit to the business I found out exactly what that meant.
The nature of their industry created several times each year when the plant ran 24 hours a day, 7 days a week for a month to six weeks at a time, to meet the demands they faced in a very competitive industry.
I happened to be there during one of those times. The son was supposed to be in charge of the factory floor and of one of the work shifts. Right in the middle of this busy time came a defining conflict for him, and for the business.
You see, Stevie was a baseball player. And his team, sponsored by the local bowling alley, was in the championship. So on a day when he was supposed to be at the plant, running the line and managing a crew, he did not even show up.
He was a no-show!.
I talked to the grandfather, and to Steve and Ellen. They were all hard-working, hard-driving people. Real taskmasters because they had to be in order to build their business over the previous thirty years from nothing to something that supported the entire family in good form.
After meeting with them, I talked with Stevie and his wife, meeting their two small children, in their house, which was owned by the company.
It was definitely a comfortable setup: Stevie and his family lived for free, and he was paid very well. Far better, in fact, than he likely would have been paid by anyone else, considering his attitude, his education, his interest, and his skill level.
Listening to him, I was astounded by his attitude. I told him very flatly that if he didn't start paying attention to his responsibilities, and stop pushing his parents and grandfather to the limits of their patience, he was going to find himself out of a job, and out of the cozy environment he relished. Why he had taken this attitude was simply beyond me, but his response set the stage for what happened next.
"Wayne, I understand what you're saying."
Now, if anyone ever says that to you, it will mean exactly the same thing: He understood the words that were coming out of my mouth, but he was not going to change his behavior. It was as simple as that.
I conferred again with Steve and Ellen and the grandfather, who had a particularly close relationship with his grandson. Everyone said that they had talked to him, and that they hoped that he would snap out of it, pay attention, and get to work.
But his feeling of entitlement and hubris were so great that I didn't hold out any hope that he would change his ways, and that somewhere down the line, there was going to be a blowup.
Within a very short time, I got a call from Steve. He went into excruciating detail about all the things that had or had not happened, all the issues still unresolved, even though we had all tried to make it as clear as possible that something had to give. He was at his wit's end, and something needed to be done. I was, however, a little surprised at what he felt that course of action should be.
"You're the expert," he told me. "You need to come up here and fire him."
And so I did.
I must say, it was a pretty unpleasant experience. After talking with Steve and Ellen, I went over to the Stevie's house, and not only did I fire him on behalf of his mom and dad, but I had to tell him that he would have to get out of the company-owned house by the end of the month.
Steve had written a letter, which I presented to him, that made it very clear that if he didn't move out, he would send the Sheriff to evict him.
Stevie was shocked. For that matter, the entire family was shocked. And I was relieved that it marked the end of my involvement in a truly distressing situation.
That was all they had wanted me to do: to fire their son.
It was about a year and a half later that someone told me that Ellen had passed away. I called Steve to pay my condolences, and we had a rather interesting conversation.
It seems that Stevie, after being fired from the family business and forced to move himself and his family out of their free lodgings, had finally gotten the wake up call he had needed for so long.
Within a few months, he had started working with his grandfather on a side project, and eight months after he was fired, he had won his original job back. And with it, he had also won a lot of self-respect.
Six months after his reinstatement, he was really taking charge and managing his responsibilities.
Although Steve was still devastated by the loss of his wife, he was truly glad that she had been around to see her son make a comeback. She had seen him become the kind of success they had always hoped for.

_________________________

By Wayne Messick
Wayne Messick is an investigative reporter at http://www.iBizResources.com - whose web site offers resources for businesses, professionals and trade association executives. Recently this story, along with two dozen others was posted in the "stories" area on http://www.iBizResources.com/doright.htm

Life Insurance Policies - Get the Quick and Dirty Crash Course to Life Insurance

2006-03-03T07:00:00.000-08:00

What is a life insurance policy?
A life insurance policy is a contract between an insurance company and a policy holder (insured) to pay out an agreed amount to the insured's beneficiaries (usually family) upon the death of the policy holder. The policy holder agrees to pay premiums as calculated by the insurance company.
Life insurance policies are purchased to protect the surviving family members from the loss of income that would occur as a result of the death of a family member.
There are two types of life insurance policies, permanent and term.
Permanent Insurance Policy:
Permanent policies are more expensive and complicated than the term policy. Permanent insurance remains in effect for the policy holder's lifetime (as long as the premiums are paid as agreed by the policy terms and conditions). In addition to paying out death benefits, it provides investment opportunities. A permanent policy's value increases over time and the insured may borrow against the accrued value of the policy. This increase in cash value is tax deferred until the money is drawn.
There are three types of Permanent life insurance policies.
Whole: Whole life policies are traditional permanent insurance that accrues cash value over time. Most whole life insurance policies pay dividends to the policy holder.
Universal: Universal life insurance polices are more flexible than the other permanent policies. It allows the policy holder to change the amount of insurance and premiums as financial needs change (subject to insurance company underwriting terms and conditions).
Variable: With variable life Insurance policies, the death benefit and the value of the policy are based upon the performance of a separate investment fund. Most policies guarantee that the death payout will not fall below a certain minimum, however the cash value of the policy is not usually guaranteed. There is more risk involved with Variable policies.
Term Insurance Policy:
Term is the most basic and least expensive form of life insurance policy. The term policy remains in effect for a designated period of time. The term can be anywhere from 1 to 30 years. There is a set premium and a set death benefit pay out amount. If the policy expires prior to the death of the insured, the insured may either renew the policy for a specified term or let it expire.
With term policies there is the option to convert to a permanent policy. Sometimes an insured may not be able to afford the more expensive permanent life policy initially. As they become more established and their career and their financial situation improve, they may opt to upgrade their term to a permanent life insurance policy . The upgrade does not require the policy holder to undergo an additional physical examination.
The underwriting guidelines for the various insurance companies differ, so shop around and do your homework before purchasing a life insurance policy.
View our recommended source for insurance quotes life insurance quote, car insurance quote, affordable health insurance

_______________________

By Gavin Bloom

Car Insurance on Rentals

2005-12-06T22:13:00.000-08:00

When it comes to car insurance, there are a couple of traps you can fall into. The contracts are complicated and extremely difficult to understand, and that’s if you even have the time to read them. The fact is that most people don’t read insurance contracts and there is a significant information shortage when it comes to consumers and the contents of their own insurance contracts.
One of the problems with this information gap is that it can lead to wasted money. Every time you rent a car you are asked what kind of insurance you would like. The options are generally to take none, which costs nothing, or you could cover liability insurance, which should cost about $10 per day. Then you have a variety of options to cover the rental cat itself, prices for which vary from company to company and state to state. The full coverage option, which includes liability, passengers, and the rental car usually, comes to about $25 to $30 a day. Most people genuinely don’t know what option they should be taking.
Liability
Liability insurance is the only insurance you are required by law to take out. All the others are optional. That’s the first and most important thing to remember when you’re at the rental desk, and the total price for your two-week vacation car is quickly adding up and up. The other thing to know is that in many cases, you will be covered, to some extent by your existing car insurance. You will have to check your insurance policy to make certain, but for the vast majority of drivers, they will have liability insurance by virtue of their own car insurance, and this will carry over to the rental car.
It is however, unlikely that full or comprehensive coverage will carry over from your own car insurance. This is because comprehensive insurance is calculated based on the value of your car. Insurers don’t want to be in a position where they set your policy based on your say, $15,000 vehicle, and then have to pay out when you crash a $40,000 rental. So your policy will state that only liability insurance is provided when you rent.
Credit Card Cover
You may still require no insurance from the rental company however. This is because many credit card companies, including both visa and MasterCard, offer this insurance if you pay for the rental with one of their cards. This is a major benefit of using a credit card and should not be wasted. Again you should check with your credit card provider what they cover, but the bottom line is, if your own insurance covers liability, and your credit card covers the rental car, why pay a couple of hundred dollars for extra insurance when you’re already covered?
If you are in doubt as to your insurance, it is wise however to take the rental company’s policy, especially liability.

_________________________________

By Joseph Kenny

Joseph Kenny is the webmaster of the insurance site http://www.insure121.com/ where you will find information, news and links to the leading providers of car insurance in the UK.

Year End Planning

2005-12-06T22:10:00.000-08:00

Can anybody tell me what is so important about the next four weeks? Christmas and New Year's Eve parties do not count as valid answers. Instead, you are given a few last opportunities to get your 2003 finances in order to minimize the tax bill you'll pay next April.
We all know about mortgage deductions, and charity giving being deductible and a few other things like that. We also know about the standard deduction, home business expenses and other stuff that you can learn from software programs like Turbo Tax (not an endorsement). But what about the lesser known deductions - medical savings, and others that I am not going to get into because I am not a tax expert. I do know who to recommend you go to talk to: a financial planner.
Preferably a Certified Financial Planner.
Okay; here's a short test - all True or False answers.
1. T or F Financial planners are the same as stockbrokers
2. T or F Financial planners are primarily investment advisers
3. T or F Rich people are the only ones who can afford financial planners
4. T or F Financial planners aren't worth the money you have to pay
5. T or F You should only work with fee-only planners
6. T or F You can develop your own financial plan
Tally up your totals. How'd you do? If you have more than 5 False marks you're doing great. Anything less, read on and learn what you can about how to improve your year end financial planning.
1. False - the Financial Planning Association notes that a stockbroker, insurance agent, and other financial sales personnel have the function of selling financial products. These days just about anybody can hang out a shingle claiming to be a financial planner.
A good planner's job is to help you identify your financial goals and working with you to develop a plan to reach those goals.
2. False - investment advice is just one part of what a planner does. Financial planners are supposed to look at your entire financial picture - debt, taxes, retirement, savings, estate planning and insurance.
3. False - an increasing number of planners are working with modest- income clients. Go to www.fpanet.org to look for a financial planner.
4. False - sometimes you get what you pay for. A planner is an objective third-party who can help you budget better, reduce taxes, or even prevent a costly financial catastrophe.
5. False - with a caution. Fee-only planners can cost $100 an hour and so can be prohibitively expensive. If you have a planner who also sells financial products, beware of high-pressure tactics. Financial planning won't help you if the planner pressures you into buying products you can't really afford or aren't what you need.
6. False - with a caution. This depends on what kind of person you are. If you are good at planning your financial future you won't need a financial planner. If, however, you are like most people you don't have the time or inclination to figure out how best to use your money then you really should consider hiring a financial planner.
So in the last four weeks of this year you need to sit down and decide what financial moves you can do to best help yourself. If this requires the use of a planner, don't hesitate to contact one. At the very least, sit down for an hour with all your paperwork in line and see if they have any suggestions as what you can do. With the power of the Internet behind you there is little reason why you can't improve your financial situation in this remaining time if you just know what to do.

__________________________________

By Roger Sorensen

America's Financial Guide can be found at ==>http://www.Slave2Work.com Subscribe to Money Basics via http://www.slave2work.com/ezine.html

Low Risk Investments – They Can Yield High Returns!

2005-12-06T22:08:00.000-08:00

Low risk investments are those investments that historically have proven to rise over time with low downside volatility.
Many people believe that the lower the risk the lower the return, however there are exceptions to the rule and one of these is investing in land.
UK Land – A Low Risk Investment
When most investors think about low risk investments they don’t think about land - they normally think of bonds, money market funds, savings accounts, and blue chip stock mutual funds.
Land however has proved itself as a low risk investment, and in the right location, land can yield a return far above traditional low risk investments.
With a 920% average growth over twenty years, UK land values have provided much better returns for astute investors than most discretionary asset advisors - even in high-risk investments such as growth mutual funds.
The Advantages of Buying UK Land
The advantage of buying UK land is that demand is out stripping supply and this scenario looks set to remain in place for the near future.
Many international investors are now buying into UK land - here are five reasons why:
1. The UK needs 4,400,000 new homes over the next 20 years.
2. Houses in 90% of towns in the UK are unaffordable for first time buyers, and low cost housing can rectify this.
3. The UK is the second most densely populated country in Europe and has a fast rising migrant population creating strong demand.
4. Over the last 30 years, the demand for new homes has increased by 30%, whereas over the same period house building rates have dropped by over 50%.
5. Action is now urgently required to address the acute shortfall in affordable housing.
Low Risk Investments and Diversification
Most asset advisors recommend spreading your investment portfolio into several different asset classes to maximize income and capital growth potential, and land can provide the perfect diversification.
Land is an easy to understand investment, unlike stocks or equities, you own something that’s real, and it has historically risen in value. Many investors believe that buying land is expensive and in the past, this was true, but now there are many companies catering for the smaller investor.
What’s the Catch?
All investors want to make big money and get rich quick, but most sensible investors know there is no such thing as money for nothing and they are correct.
The location of the land provides the risk in land investing - to make capital growth from land investment and maximise capital gains you need to buy land that is ripe for development. This means the land to built on is located in a sought after area. This requires research and homework, but there are many reputable companies offering this service so you can rely on expert advice in planning your land investment strategy.
Maximising Risk and Reward
Of course, a hedge fund investment could provide you with greater growth potential, but land, taking into account the risk / reward, makes it a very attractive addition to your portfolio.
We quoted an average gain of 920% in UK Land values over twenty years, and the important point here is that this was the average. With careful selection of the location in which you buy your land, gains could of course be much larger.
In conclusion, land gives you above average gains combined with low downside risk, and you should consider making land a part of your low risk investments strategy.

________________________________

By Stephen Todd

to learn more about investing in UK land and other low risk high return land investments please visit our web site: http://www.lpgroupinternational.com

The Best Investment

2005-12-06T22:04:00.000-08:00

For the next twenty years, personal security is the finest investment we can make. Make a two year plan. A five and a ten. Never sell your investment. Hold it no matter what appearances are. I want such fine camping equipment I can starve to death anywhere in the world, in total comfort. Then I can focus on eating.
I too live in a place where the odds are better than even, I will have to give up my home. How about you? How will I be travelling? What and who will I want with me?
After comfort I look at food. How much should I carry for each person? Will I need to move more than a hundred miles? Will I need fuel to move, or can I move what I want with a bicycle and trailer? This means camping. Over nighters, week enders, Summer camps, etc. Can I be comfortable with 40 pounds of worldy goods? Can I start with more and shed as I go?
So I think of food storage in the event I get to stay home. I think of what food to carry if I don't and I plant a kitchen garden in total optimism. I plant seperately to generate seed stocks of the things I want to grow next year. A well set up and run kitchen garden gives me superior food year round with great convenience.
Next I invest in super immunity. The coming plagues will kill people like flies because the antidotes will only follow the death and destruction. Can you hear and feel the fear in the media? When you take responsibility for your own super immunity and for those close to you, you have taken appropriate action against a threat far more serious than terrorism. Be Prepared! - No joke.

__________________________________

By Ed Howes

Ed Howes sought and found. Knocked and entered. Now he sees things differently. To see more of what he sees, please visit http://www.justanotherview.com

Overwhelmed by the Daily Deluge of E-mail?

2005-12-05T23:58:00.000-08:00

Part of being an effective marketer is being an effective time manager. The little time suckers in our workday can collectively add up to a LOT of time taken away from our core functions and billable work. One of the biggest time drainer is our In-Box.
Tame your e-mail beast by mastering the art of email management. This will reduce your stress, streamline your workflow, and improve your efficiency. Here are some strategies you can implement:
1. Avoid Constant Interruptions: Turn off your auto send/receive or set it to a reasonable timeframe, like every hour or two. Some people find they are most productive at certain times of the day - like early morning. If this is true for you, regularly block out that chunk time and DON'T check your e-mails until afterwards. You will be amazed at what a huge difference this one change will make in your workday.
2. Respond with Brevity: If possible, reply with an action-oriented 1-2 line response. Always keep your messages under 10 sentences. Communicate your main point in the first sentence or two. Then delete or file the email, and get back to work!
3. Use Proper Grammar: Do NOT bypass standard grammar and punctuation. Create a well-written message. It will save your recipient time, as well.
4. Break Up Topics: Use separate paragraphs or bulleted lists when possible to save time for your reader. Get in the habit of doing this and people will tend to respond in kind. It saves time when you can scan lists quickly.
5. Use the Subject Line: Make sure you are very descriptive in the subject line. Or, use the subject line for the entire message: Meet 10:00, 5/30 Ok? You can establish agreements within your office to use codes in the subject line like NT for No Text and NRN for No Reply Needed.
6. Don’t Break for E-zines: If you are like me, you get a lot of professional e-zines. These are interesting and important for our continuing education. However, they can also serve as easy distractions from the task at hand. Instead of taking the time to read each one as it is received, stick them all in a folder labeled “Ezines” and reserve time each day or even each week to read them all at once.
ACTION ITEM: This week, take 3 steps toward taming your e-mail monster! Ideas: Talk to your office and set up agreements with internal e-mails. Create e-mail folders that will help you organize your inbox. Reset your auto email send/receive.
I hope this gives you some great ideas to reduce inbox clutter and streamline your communications. I’m not a natural organizer, but the more I create new time management habits, the more I find time for creativity and my core business strategies.
Work smarter, not harder!
Copyright 2005 Kinesis, Inc.

__________________________________

by: Wendy Maynard

Wendy Maynard, the Marketing Maven, publishes REMARKABLE MARKETING, a weekly ezine for business owners, freelancers, and entrepreneurs. If you're ready to skyrocket your sales, easily attract customers, and have more fun, get your FREE TIPS now at http://www.gomarketingmaven.com.

Achieving Financial Security in an Unreliable Economy

2005-12-05T23:55:00.000-08:00

Financial Security is a false concept that developed in American society based on the idea that security comes from the perceived reliability of a regular or planned paycheck. Many people, believing in the commitment of their corporations to their well-being, have found themselves downsized, layed-off, outsourced, transferred, or, in some cases, even fired. The immediate reality becomes harshly apparent and sadly disappointing.
The bottom line is that Corporate America will always be focused on the bottom line. As a dependent corporate employee, you are subject to the whims of the corporation. You have absolutely no control over how much you earn, where you work, the longevity and reliability of your income, or your position. You are simply a number. At any given moment, some nameless pencil-pushing number-cruncher, can deem that you are no longer an asset to the company and, rather, have become a liability. At any given moment, it can be deemed that you no longer factor into the profitability of the corporation - and your OUT. They don't care if you have a mortgage to pay, 3 kids in college or a new shiny car with a hefty payment. They don't care that you've come in early for the last 9 years or given 20 years of your life to them. The bottom line is that you don't effect the bottom line in a positive way...so you're OUT.
Corporations no longer hold value in employee commitment or dedication. Each day, companies are choosing to cut costs by outsourcing to less expensive countries with cheaper labor, downsize, and reduce costs by eliminating cost of living increases, benefits and retirement guarantees. Recently, the media has been focusing on the deliberate actions of corporations that cost employees each year. The Christian Science Monitor, on November 7th, 2005, featured an article, “Workers Face Paycheck Pinch”. In the article, the author, Mark Trumbell, details the lag of Corporate America to maintain pay increases with inflation:
"For all its strength, the current economic expansion is not boosting the American worker's paycheck. Wages have been rising nominally: Average pay rose 8 cents last month to $16.27 an hour, according to a government report Friday. That's not fast enough to counter inflation.
By one common measure, average pay for an hour's work has less purchasing power than it had four years ago - when the current growth cycle began. It's a pattern of weak wage growth that's now several years old, but the trend has worsened in recent months. Wages for the most recent quarter were 2.3 percent lower, after inflation, than workers received a year before"
Time Magazine recently featured an article entitled “Broken Promises”
"It was part of the American Dream, a pledge made by corporations to their workers: for your decades of toil, you will be assured retirement benefits like a pension and health care. Now more and more companies are walking away from that promise, leaving millions of Americans at risk of an impoverished retirement."
"Corporate promises are often not worth the paper they're printed on. Businesses in one industry after another are revoking long-standing commitments to workers." (Bartlett and Steele, October 31, 2005, p. 32-33)
So, how do you achieve Financial Security in this changing global economy? Employers aren't even keeping up with inflation and are doing everything in their power to reduce benefits and retirement income. The days of being rewarded for loyalty to corporations are long gone – it’s now every person for themselves. In addition, loop holes in corporate law enable companies to restructure, file bankruptcy and maneuver their way out of promises to employers to provide benefits.
In reality, true Financial Security is belief in yourself and your ability to instinctively create income for yourself at any time, anywhere. Entrepreneurs understand true Financial Security. They’re self-reliant, creative, independent and solution focused. We know that at any given time, regardless of the economy, trends, timing, etc. that we have the skills, know-how, and guts to create our life. Entrepreneurs refuse to be dependent on or subject to the whims or decisions of corporate America, rather establishing themselves as corporations, producing their own incomes through commitment, service and sheer motivation. We are responsible for our own retirements and count on the promises of no one. Entrepreneurs ARE financial security and as such we reap the rewards.
There are many opportunities for people to become successful entrepreneurs. Thousands of people have made fortunes on the internet alone. Decide what type of business you want, what your ultimate goal is (time, money, leisure, etc) and go from there. A common misconception is that businesses take thousands of dollars to start. It is true of some, but there are many lucrative opportunities available for nominal start-up costs. Once you make the decision to be self-employed, do your research, find the right business for you and move forward from there.
Copyright 2005 Shannon Lavenia

_______________________________________

by: Shannon Lavenia

Shannon Lavenia is a premier trainer and business educator in the field of wealth creation, entrepreneurism, and internet marketing. She can be contacted at http://www.trueprosperitynow.com or 800.303.2580.