Tag: Business

Business Law Attorneys

This professional offers legal advice to persons who are involved in all aspects and stages of any business. Some of the things that business law attorneys do include:

• Make sure that there is compliance with all local business laws. If they do business internationally, they will make sure they comply with those laws too.
• Offer advice and file forms for each step from the formation of a business to the dissolution if necessary,
• Handle lawsuits
• Review and write contracts
• Create staff manuals
• Enforce polices or guidelines
• Cover all communications with the media

One important job of the such law attorneys is the formation of a new business. If there is more than one owner, they will advise them on the type of business they are forming. It could be a partnership, corporation, or limited liability company. When forming a business of any type it entails a concrete understand of the liability and tax implications of each kind of business. Once the business is formed, the attorney may be responsible for filing all of the yearly reports and other forms involved with the business with the different government agencies.

Many times businesses will use such a law attorney when they want to terminate or dissolve their business. This is done to ensure that the pre-established dissolution guidelines are followed correctly. The attorney may also handle new issues like a lien, a big number of assets, or an outstanding debt. Business law attorneys may also give advice on some of the daily happenings in a business. They may be asked to develop guidelines for human resource staff regarding the firing and hiring of employees. If an employee feels that they have been sexually harassed, discriminated against, or wrongfully terminated they may handle the lawsuit if one has been filed. They could work on the behalf of the employee or employer.

Sometimes business owners will call business law attorneys if they have questions about specific ways to save money such as whether they should own or lease a building. They may also want advice on where they can conduct their business to avoid having to pay high taxes, which is particularly true if they are thinking of expanding their business internationally.

Some business law attorneys are familiar with patent laws so if a business has developed a product they may contact an attorney to help protect their interest by filing a patent. If the attorney has an understanding of intellectual property laws, they may be asked to help a business trademark the name of the product or their business name. Business law attorneys may act as the businesses spokesperson if a lawsuit they are involved in catches the attention of the media.

Small Business Owners: Your Leadership Style Can Increase ‘Profits’

Covid-19 pandemic has forced a lot of business closures. Government leaders are issuing stay-at-home orders and the government is reopening in phases, which has limited customers sizes to 25%, 50% and 75% for the health safety of our community. How can you lead in constant changing environment? How do you motivate employees and simultaneously look for the next product to keep the doors open? How do you change your management style to be an effective leader in such a uncertain future and ‘doing more with less’ employees.

Leadership

I suggest send out a survey of what qualities they want to see in a CEO (then pledge to do everything you can to live up to these expectations)

Leaders need to provide coaching, because no one ever got to be the best without the constructive feedback, probing questions and active teaching. Be honest and positive in all communication messaging.

Search for opportunities to improve

  • What’s new?
  • What’s next?
  • What’s better? And not just for yourself but also for those around you.
  • Find a significant purpose for addressing your challenging and most difficult assignments.

Who you are and what your values are (then you give voice to those values)

Leader must affirm the shared values of the group.

Inspire a shared vision

  • Envision the future by imagining, exciting and enabling possibilities
  • Enlist others in a common vision by appealing to shared aspirations
    • Imagine the possibilities
    • Find a common purpose

Leaders who focus on the future attract followers more readily

  • Read trends
  • Listening to Podcasts
  • Watching documentaries

People regard most favorably those leaders who regularly talk about the ‘why’ of work and not just the ‘what’ of work

People who are leaders want to do something significant, accomplish something that no one else has yet to achieved.

Motivating Employees

  • Cross Training Employees about each other roles/responsibilities
  • Mentoring
  • ‘how can I help you?’… walking around 30 minutes a week
  • Delegating responsibilities
  • Brown Bag lunches (training)
  • Praise and Work for work above normal day activities

Sending them to seminars

Have them to do presentations

Quarterly Corporate Town hall Meetings (teleconference)

Weekly recognition of outstanding performers

  • Email
  • Walking around
  • Must be based on ‘visible’ performance (daily if outstanding)
    • Monthly meeting (recognize your performers)

Social Media interaction with customers

  • Do you have a scalable website (WordPress)
  • Do you have LinkedIn profiles about employees and products
  • Engaging with customer markets about current happenings
    • Facebook
    • Instagram
    • Reddit
    • Twitter
    • Weibo (china)

Finally, some business owners will make the necessary changes to keep afloat and some will drown. Navigating in rough waters, takes a team effort, innovations and commitment to ride it out!!!!

Your job as a business leader is to communicate, communicate with honesty and positivity to build trust in customers, employees and shareholders.

The Correct Way to Enhance Your Fantasy Sports Business in 2021

In India, the fantasy sports market is overflowing with a promising circumstance and as the client base keeps on developing immensely, Online Fantasy Sports administrators are on the journey to rule the opposition and move to the top. As per the FIFS-KPMG report, there were under ten organizations in 2016. Today there are in excess of 140+ Fantasy Sports App Developers working in India.

With the ceaselessly expanding numbers, the organizations with explicit market situating and additionally an upper hand can just succeed. Both fresh introductions and existing brands are doing combating to develop their piece of the pie.

To make a buzz among clients, it is basic that fantasy sports platform ought to have something novel to bring to the table its clients. Despite the fact that fantasy sports developers like some other business can carry out extraordinary statures in the event that they get greatest yield from the current resources and in the event that they check their costs.

They can bring in huge cash if their challenges get filled and the expenses of client obtaining isn’t so high. Allow us to jump into the prescribed ways of maintaining an effective fantasy sports business and perceive how it can do ponders for you:

Try not to attempt to turn into another Dream11. Focus on building a little beneficial business first

Fantasy sports organizations at early stages ought to at first mean to carry out 5000 to 10000 dynamic clients. This can be accomplished by saving fewer challenges for particular matches and associations, ideally mainstream ones. With less quantities of challenges for famous matches, the passage cost can be channelized to keep the higher prizes.

Following this, there will be under 10,000 clients taking an interest which builds the likelihood of the clients winning on your foundation. Having said this, there could be no other explanation which would prevent your clients from consistently playing on your application.

Spin your reality around your clients and more clients will rotate around you

Fantasy sports developers are giving intense consideration to new client securing however are not putting enough accentuation on the significance of loyalty and maintenance. Dominating a fantasy match is perhaps the greatest inspiration of fantasy sports clients. Enchant your clients with unimaginable client service.

Cycle the withdrawals rapidly and consistently keep in contact with them through proper correspondence channels. Additionally, presenting people behind the endeavour, office, your image’s vision to your crowd will help in acquiring their trust. Informal, the best type of advertising must be dominated by giving them a perfect gaming experience.

Home is the place where our story starts

Not adequately advertising your business at your home ground and boosting your nearby presence can cost your likely clients to the contenders. Fantasy sports new businesses can begin their showcasing and client procurement stage by focusing on their nearby town or the city.

Setting up an actual presence is an incredible method to get through the commotion, get your image before likely clients of your locale. The thought is to have an orderly methodology for client securing so your promoting efforts have a neighbourhood flavour which makes most extreme effect.

Individuals are most affected by loved ones instead of acclaimed superstars

As indicated by new examination from the innovative experience office named Because, loved ones are on normal four to multiple times bound to influence individuals’ image buys than noticeable influencers. Regardless of the developing notoriety of influencers advertising and rise of whizzes in online media, the examination shows that most people want more associated, further human associations.

Administrators need to take a gander at influencers in an alternate manner. They ought to underscore on reference models, run worthwhile reference plans and prize client loyalty to rouse client activities and convert these clients into brand advocates.

Find new and imaginative approaches to reach and connect with crowds

Perhaps the most well-known promoting methodologies brands have is online media as the sole or significant showcasing channel. Truly, it’s free, and it’s quantifiable, however on the off-chance that you don’t have a general showcasing and correspondence methodology, it’s inconceivable that your monetary targets can be cultivated through informal communication.

There are numerous alternate approaches to spread mindfulness and put you before your clients. Attempt neighbourhood papers, radio broadcasts, hoardings, school and college celebrations to develop your crowd.

Your organization is your total assets

Give most extreme inclination to your own organization. As opposed to spending a great deal of cash on promoting, influence your own hotspots for client securing. Advance the stage among companions, family, partners, colleagues and request them to spread a positive word from mouth. Additionally, the business world is always showing signs of change. Meeting up with your end clients can assist you with understanding them much better.

Having discussions face to face with potential clients is an important type of statistical surveying. It will assist you with getting know how they see your foundation, what is critical to them, and their trouble spots. Not exclusively will it help you with securing however it may likewise assist you with making your foundation shockingly better.

The Bottom Line

As you can recognize at this point, no single factor alone can decide the achievement of a fantasy sports business. Indeed, quick personalities would frequently depend on in excess of two all-around attracted procedures to the advantage of their fantasy sports business.

Having a fantasy sports business isn’t a flawless opportunity, it is challenging and needs a lot of focus with optimum resource utilization to get success in 2021. You need to make changes in your existing Fantasy Sports platform or you can go with an experience developer to ensure flawless performance and better user reach.

QNet Review – Is It a Legitimate Business?

When you go online and search for the phrase “definition of scam”, these are some of the results you’re going to get;

  • victimize: deprive of by deceit
  • a stratagem for gain; a swindle
  • to swindle (someone) by means of a trick
  • obtaining money by means of deception including fake personalities, fake photos, fake template letters, non-existent addresses and phone numbers
  • a fraudulent or deceptive act or operation

We can now say that a scam company is the one which usually represents itself to the people in a way that is deceiving (not it’s true image) and end up obtaining money through the process.

Now the question is, is QNet a legitimate company or just another SCAM? Should you get involved with QNet? Are you going to receive what you have been promised by QNet, or will you be deceived? Can your dreams really come true by you participating in QNet?

Before I answer the above questions, you have to understand that QNet is just one out of thousands of other Network Marketing companies out there. You should also understand that out of all those companies, some are legitimate companies and some aren’t. Some are Network Marketing Companies and others are just pyramid schemes. Some are there for the short-term (to rip you off and/or bad management), and some will be there for many decades and centuries to come. So before you decide to get involved in any company, you should understand where the company stands.

7 Things to look for in a Network Marketing Company before you get involved

  1. Age of the Company: It is known that 90% of all start-up Companies fail in the first 5 years in business. 90% of the remaining 10% also fail in the next 5 years in business. This also applies to all Network Marketing companies. So before joining any Network Marketing company, it is good if the company at least has lasted more than 5 years. 10 years is even much better.
  2. Credibility of the Company The credibility of the company is very important. You should ask these questions to yourself. Does the company have any history of taking advantage to their customers or business partners? Does the company have any history of any illegal activities? Is it legally registered? Who has the company worked with? How has the company contributed into society?
  3. Size and Growth of the Company Knowing how big the company is, is very important. Where are the offices operating? How many offices they have? In how many countries? How many independent representatives/distributors are with the company? That’s all important. It shows how stable the company is. But an even more important question to ask is, how fast is the company growing? Growths is more important than the size. There are companies which have been in business since 1970’s and they have 7,000,000 Independent distributors and there are companies which have started in the late 90’s and they have 6,000,000 Independent distributors. Now which company should you get involved in? It’s smart to get involved with the 2nd Company.
  4. Products The type of products the company sells is also important. You should understand that Network Marketing is all about having a large group of distributors promoting and marketing a product to the market place and sharing the profits from the sale of those products. That’s how the company survives and distributors earn a living. We all have to admit that not all products sell the same. When we look at most successful Network Marketing companies out there, the products they promote are in either of the following niche:
    1. Health and Wellness Products (80% of all Network Marketing Companies)
    2. Telecommunication services
    3. Vacation
    4. Gold and Silver numismatics and jewelery (It’s a growing trend)
    5. Education (Self improvement, Financial education, marketing etc – a growing trend)

    So it’s really important to look at which products the company has before you embark into the opportunity. It also has to be a product that you like and that you’re passionate about.When it comes to selling emotions are more powerful than logic. The more emotional you are to your product, the more you sell.

  5. Compensation Plan You are into Network Marketing to make money. Serious money! Period! If the company you get involved in doesn’t pay you good money for you building the business, I seriously think you should look somewhere else. You have bills to be paid and send your children to the best schools. How many dollars can you make when one person gets involved into your Network Marketing Opportunity? $5, $10, $30, $100, $1000? I know companies which pay up to $1700 when you recruit a single person into the business. Off course he has to buy a product which is much worth more than $1700, but hey! people have money to buy expensive things. I don’t know about you, but I don’t really think it’s worth getting involved in a company where I have to recruit many people to get small amount of dollars while I can make ten times more with a single person. This is a secret I found in marketing, if the consumer sees much value to the product, even if it’s $1000 product he/she would gladly would love to buy the product and sometimes even beg you (a car is a good example).

  6. Training: It is a known fact that best business trainings are found in Network Marketing Companies and not in a Business School. I suggest you buy Robert Kiyosaki’s book,” Business School ” to understand more. It’s only in Network Marketing where you can find a dishwasher with not even a college degree becoming a Millionaire in less than 5 years. It is really important that the company you get involved in has that training to raise you from where you are to where you want to go.

  7. YOU: This is the MOST important factor for success in Network Marketing. If YOU want to make it BIG in Network Marketing, go look at the person in the mirror. Do you really want to do it? Do you have what it takes? Are willing to put your heart and soul into your business? The answer to all your success lies within you. Stop looking somewhere else. Only 10% of people in Network Marketing make good money and live the life of their dreams. The rest just occupy space and complain about everything but themselves. “You can’t fly with the eagles when you’re down scratching your back with the turkeys.” You’ve got to choose either be an eagle or a turkey. You can’t be both!

Now the question still remains. Is QNet legit or just another Scam? I’ll answer this question by going through my 7 points.

  1. Age of the Company: QNet has been in existence since 1998 (headquarters based in Hong Kong) so that makes the company stable and it qualifies for 10% of companies which have survived in 10+ years.
  2. Credibility: Is QNet credible? Lets see –
    1. 2000 & 2002 – Worked closely with Vatican making a Commemorative Coin for John Paul II- Worked with the government of Indonesia and received the endorsement of the Bung Hatta Commemorative Coin from HE Megawati Sukanoputri – The former President of Indonesia
    2. 2001 – FAO/UN appointed QNet as exclusive distributor for its gold coin programme to create awareness against world hunger among the public
    3. 2003 – Title sponsor for International Badminton Federation (IBF) World Cup held at Birmingham UK.
    4. 2006 – Worked with FIFA becoming the official distributors of FIFA 2006 World Cup Coin Programme and FIFA Centennial Coin Programme – Sponsored the Brazilian Soccer team in 2006 World Cup – Title sponsor for International Badminton Federation (IBF) World Cup held at Madrid, Spain.

    And many more. The Company has been involved in many things, sponsoring sports, Government meetings, giving away donations to many countries in Asia and Africa. It’s beyond the scope of this article to mention all. This clearly shows that the company qualifies for my 2nd important thing you need to look at in a Network Marketing company.

  3. Size and Growth of the Company: QNet now has 6 Million Independent Representatives and has expanded to more than 180 countries worldwide. The company is just 12 years old. 6 Million in 12 years, that’s a great number. That clearly shows that the growth of the company is extremely good.

  4. Product: QNet promote products of wellness, telecommunication, jewelery, numismatics (gold and silver coins) and vacation. As you can see these products are the hottest trends. They have captured a great audience which makes their products sell like CRAZY!.

  5. Compensation Plan: Very few companies pay BIG money when it comes to their compensation. When I say BIG money I mean up to $1000 per every person you recruit. Well QNet pays from $30 to $1700 whenever you recruit a person depending on which product he/she bought. I don’t know about you but If you ask me, $1700 per every person I recruit is good money. How many companies pays that good? Very few. Another BIG advantage about QNet is that when you buy a product once, you have a business for life. The only money you pay is $10 for you virtual office annually.

  6. Training: QNet has a sister company called The V. The purpose of the V is to nurture, support and train the whole QNet Network of 6 Million plus. They have offices in different parts of the world offering training and training materials. They produces very powerful video trainings and they host various conventions in different parts of the world. In June this year, they hosted a Convention that had more 8000 people from 70 different countries who attended making it one of the largest business gathering ever held in Malaysia. That’s a good sign. I can assure you with such a training, life would never be the same.

  7. YOU!: Now the question is can you be successful in QNet? Do you have what it takes? Are you willing to pay the price for success. It is said even winning a lottery requires you to get out of the house to go buy the lottery ticket. You can be in the perfect company which has the perfect compensation plan, but if you don’t take that ACTION, nothing will happen. I hope by now you have the answer whether QNet is Legit or Scam. Only you can decide which answer to give yourself. I did my part. Your part is for your brain to process this and decide. Legit or Scam?

I hope this article was informative. Feel free to comment down below. Tell me what you think. QNet – Legit or Scam? If you liked this information please share it with all your friends.

I wish you good luck in your journey,

Your Online Marketing and Business Coach,

Dr. Said Said – See you at the Bank!

A Dozen Tips for Starting an Import/Export Business

Thinking of starting an import/export business? Jennifer Henzel, a Certified Import/Export Trade Professional offers these tips for getting started:

1. Many countries have set up offices (Consulates or Embassies) in foreign countries to promote the exporting of their goods. The Consulates will supply you with industry directories and more. Embassies are located in a nation’s capital and Consulates in different cities. In many cases, the Embassy web site will contain directories and manufacturer lists, as well as an email link that you can use for sourcing

2. To import goods, communicate with that country’s Consulate situated in your own country. If you are uncertain what products the other country wants, you can obtain catalogues and lists of manufacturers.

3. Contact your country’s taxation department to ask about registration numbers or other procedures that you must follow. For example, if you are Canadian, you will require a Registration Number, issued by Canada Customs and Taxation Agency (CATA). When you inform CCTA of your plans to import or export, they issue an extension to your business number. This number is used on all related documents.

4. Find out about licensing requirements, if any. Many countries do not have licensing requirements for most products. However, if you are importing or exporting high-risk products (pharmaceuticals, liquor, chemicals, arms, certain food items and certain articles of apparel), you might need a license. “I strongly recommend that people start out with low risk items that can be easily traded and have fewer barriers­ like giftware and consumer items,” said Henzel. “Certain industries, like dairy, are guarded by lobby groups in some countries. You will be faced with quotas and restrictions.”

5. Embargoes are trade barriers set up against other countries. Many countries have embargoes against Cuba, for example. First, contact your own government to determine whether there are restrictions or embargoes against the country you are considering. Next, contact that country’s Consulate or Embassy to see if there are restrictions against goods from your country.

6. Participate in the local Boards of Trades (or Chambers of Commerce if there is no local Board of Trade). In addition to networking, you have access to research libraries and other resources that will offer good trade information.

7. Use customs brokers. “Small businesses attempting their own paperwork can run into delays at borders. If you make a mistake, you can be fined,” said Henzel. “A custom broker’s service is well worth the fee you pay.”

8. When exporting, understand that there is no one solution to shipping and customs handling that will work in every situation. Every deal is different. Each company and each set of products will require a different set of services, or a combination of services. Engaging the services of a freight forwarder is one possibility. Freight forwarders arrange shipping and customs for goods going to other countries. “You have to shop for these services and do your research,” Henzel explained. “Ask a lot of questions. It’s no different than buying a piece of furniture. You shop around first.”

9. Be familiar with Incoterms, as posted to the International Chamber of Commerce Web Site (http://www.iccwbo.org/index_incoterms.asp). Incoterms are standard trade definitions that dictate the shipping and payment responsibilities of each party. The two companies involved negotiate Incoterms for each deal. The best known Incoterms include EXW (Ex works), FOB (Free on Board), CIF (Cost, Insurance and Freight), DDU (Delivered Duty Unpaid), and CPT (Carriage Paid To). “You negotiate according to the Incoterms,” Henzel said. “You decide who pays for shipping, who pays for insurance, etc.”

10. Consult your bank for information about Letters of Credit, the most common form of payment when trading internationally. With a Letter of Credit, you minimize your risk because the banks assure that the goods are delivered before the money is exchanged. As an importer, a Letter of Credit reduces the risk of having to pay in advance for goods, or of paying for goods that are inconsistent with the product description in the Letter. As an exporter, you have the buyer’s bank’s assurance that you will receive payment provided you ship the goods as specified within an agreed-upon time.

11. Participate in Trade Missions. Consult your Board of Trade or local Chamber of Commerce to discover what is available.

12. Finally, look to the Web for information about international trade. Many web sites offer an array of information that you can access for no charge, including Henzel’s site (www.importexportcoach.com).

Business Requirements – What Is The Difference Between Good And Bad?

What is a ‘Good’ Requirement?

Many customers have asked us to give them examples of ‘good’ business requirements. Some of the braver have even asked for ‘bad’ requirements for comparison. Presumably the bravest by far are those who have presented us with samples of their requirements and requested an evaluation of the ‘quality’ of the requirements. After much hair pulling, brain thrashing, and pouring ashes on our heads, we have decided to approach this topic head-on (don’t even get me started with that ad!). Since the topic is, however rather humongous (i.e., too big to consider in a single article), we have decided to break it down.

‘Good’, Albeit Young and Immature Requirements

First off, we need to point out that the ‘goodness’ of a business requirement depends on where it is in its evolution. For convenience’s sake, we divide the requirements determination process into three major stages, ‘Capturing’, ‘Clarifying’, and ‘Confirming’.

Our basic philosophy is that business requirements may exist in the wilds of corporate America, we don’t know for sure. The reason we don’t know is that we can’t tell whether something is a requirement or not until we have captured them. What we as business analysts (a.k.a. those responsible for capturing business requirements) need to do first is plan the hunt. We need to study requirements in their natural habitat to try to learn as much about them as we can. Anything we can learn about their habits, their behaviors and their preferences will aid us in the upcoming hunt to ensure that we can snare as many of them as possible in the time allotted. ‘Capturing’ it is all about getting the requirement any which way you can – through interviewing, observation, analysis, blue-skying, brainstorming, brainwashing, butt-kicking, or whatever-works-for-you.

In this formative stage of its life, a ‘good’ requirement is a statement that:

  • starts with the words ‘I (or We, or Our Department, or My people, or a specific role) need (or don’t need or want or don’t want or should or should not or will or will not)’ OR it defines some dimension of a specific component of the future solution;
  • names a single component/feature/behavior/state that whoever has the authority in the business community to make the decision decides is an outcome of the project worth funding;
  • focuses on the business outcome, not the technology to be used; and
  • can be traced back to the individual with the authority to ‘own’ and ‘fund’ this requirement.

A Couple of Fine (IONSHO – in our not-so-humble opinion) Examples:

  1. Sales needs to be able to see which contracts will be expiring within the upcoming 90 days.
  2. I want the system to automatically calculate sales taxes based on relevant sales tax laws.
  3. The website visitor won’t need to click more than once to get to the order page from any other page on the site.
  4. We need to be able to respond to a code red incident anywhere on the planet within 24 hours.
  5. The sales tax will be localized by the zip code of the ship-to address.

On Clarifying Requirements

Requirements clarification is really all about making sure that more than one person (i.e., the author) fully understands what the requirement means. Requirements are, after all, a means of communication, so unless both the creator and the reader of the requirement agree on what it actually means, it can not call itself a clear requirement.

Just as a good for instance, let’s take the first requirement from the set above:

“Sales needs to be able to see which contracts will be expiring within the upcoming 90 days.”

Makes perfect sense to me, after all, I wrote it. What does it mean to the developers (whether they are sitting in a third world country or a cube next to me, whether or not they speak English as their native tongue, and whether or not they share a cultural background with me)? What kinds of questions could those developers have?

An Exercise in Clarity

As an exercise in your analytic abilities, you might at this point want to take two minutes to see how many questions you can think of that you would like answered to make sure that you understand my intent and not just your interpretation of my words. Whether you write them down or not, count them. In this case, quantity counts.

All right, here is my two-minute list:

  1. Who or what are “Sales”? What can they do? What will they do with whatever I give them?
  2. What does “to see” mean? Do they need the physical contracts or just a list?
  3. What constitutes a contract?
  4. What makes a contract “expire” and why do they care?
  5. Upcoming 90 days? Starting from when? Does this view change day-by-day or weekly or monthly or hourly or what?
  6. Come to think of it, what constitutes a day in this context, 24 hours (a day in a single location) or the global day (and is that 47 hours or how does that work, anyway)?

OK, those are the first 6 (or however many you want to count) questions that hit my feeble mind, but remember, I am the author! You can probably do much better because you look at the world from your perspective. All of this indicates that, although the requirement was clear to me when I wrote it, it may just have some subjectivity that needs to be resolved lest it lead us to develop the wrong solution.

When Does It Ever Stop?

Let’s consider what we just did. We took one sentence and created a bunch of questions that will lead to who knows how many more sentences, each of which will consist of terms that need clarification. Sounds like a classic example of analysis paralysis to me. How does it end, when do we finally know enough to stop dithering around and start developing the solution?

Great question! Actually, quite possibly THE question for business analysts everywhere. The most expensive answer is, of course, to build the solution and then see whether or not you understood the requirements correctly (which could have a negative impact on your chances for a career in business analysis).

The best answer our industry has come up with to date is the old Chinese quote, “A picture is worth a thousand words”. In other words, draw a diagram or create a prototype of what you think works and test your understanding of it. If you and your counterparts (Subject Matter Experts, a.k.a. SMEs on the one side and the developers on the other) are versed in modeling techniques, a good exercise is to have each side draw a quick diagram (process model, data model, swimlane diagram, whatever) of what they understand the requirement to mean and then compare models. Models are, however, not the only method available to you.

Why Do We Not Clarify?

“Why do many of us skip the clarification process”, you ask? (At least, I think that’s what I heard you say in my head.) For starters, many people don’t like to ask questions for fear of appearing ignorant. (That’s my line — questions don’t show ignorance, they show interest!). Secondly, figuring out what to ask is hard work. (Of course, not as hard as being President, but still.) Even though a question shows interest, some questions at least SOUND stupid, so how can you be sure that YOUR questions are not the stupid kind? O.K., how many of you picked up on the preposterous use of parenthesis in this paragraph to “clarify” what was meant? Did it clarify or confuse? Ahhh, the conundrums we create by craving clarity.

This thinking and that pesky deadline that is looming lead you down the rosy path of, “Well, the subject matter expert must mean this, since that is the only thing that makes sense to me”; and another promising project goes kerplunk. There is a better way, there has to be.

The Decomposition Dilemma

Decomposing requirements statements probably has as many different definitions as there are letters in the name of the technique, but our take on it is the simplest (really, it is, trust me). All you need to think about are two things.

People and systems both do things. In our parlance, we call these things functions, activities, or processes. In doing things, both people and systems consume resources (such as data) and they create new resources (including new data). The primary purpose of information technology is to help us do things cheaper, better, faster and remember what we did by keeping track of the related data. Well, since requirements are supposed to define a future information technology, maybe we should just focus what the system will DO and what it has to KNOW for starters to see where it leads us.

Functional and Informational Components

In its simple form, decomposing a requirement statement consists of asking three questions, starting with “What does the requirement state or imply that the system (or a person) will need to DO?” Since doing anything requires some form of action, we are looking for answers in the form of verbs and objects (i.e., “calculate sales tax”, “deposit check”). Since the verbs indicate the action, the objects are typically data (or something that we need to have data about).

Once we have a list of all of the things that the system or the users need to DO, the second question for each item on the list is, “What data does the system have to KNOW in order to do that?” Since data is a thing, now we are looking for nouns or noun phrases (i.e., “sales tax”, “amount due”, issuing bank”).

The third question is “Where does that data come from?” and the answer here can only be another function or somewhere outside the system (i.e., the bank, the customer, the IRS – sorry bout that last one, but it is a valid source as well as a pain in the anatomy)

And So It Goes

O.K., you started out with a simple sentence that defined a future feature, state, or behavior of a component of the business system and now you have a couple of long lists of things the system has to do and things it has to know. The only significant question left standing is whether you know enough about each item on the list to communicate to the developers or assemblers of the solution. It might even be a good idea if you also knew how to recognize if these things are there and work the way you want them to once the solution is delivered.

Is everything clearer now?

Confirming before Coding

Confirming business requirements is really about making sure that the business community and the technical community understand the same thing under the requirements. It is also about ensuring that they both agree on relative priorities within the set of requirements so those requirements that are most important to the business community will be addressed first. Prioritization is not something that can be done unless it matters, so we are not going to delve here into the intricacies of this critical step at this time. Suffice it to say that unless your business requirements are confirmed and prioritized, they are not ready for prime time which, in our philosophy, means “Ready to be Managed”. In the end, the manageability, maintainability, and feasibility of your business requirements is what makes the difference between ‘good’ and ‘bad’ business requirements.

May the best requirement win.

Top Ten Factors in Running a Successful Construction Contractor Business

It is not easy running a construction business. There are many pitfalls and ways to lose money but if you follow some basic steps you can not only make a living but become very wealthy. Many successful construction contractors have learned there are certain things you absolutely must do right all the time and certain skills you must have or acquire in order to make it in this very competitive industry. In this article I will summarize what it takes to be a successful construction contractor in their order of importance.

Most Important Factor: Hands On Experience

Do not even think about starting a construction contractor business unless you have at least five years of broad (meaning general, not specialized) construction experience. The only exception to this is if you intend on specializing in one area and one area only. We call this a niche. Niche’s can be very profitable, but they can also go away, change or be replaced by technology, new products, changes in the industry or societal changes. The best chance for success in the general contractor business is to gain experience doing everything. This general experience has many benefits. It gives you the ability to identify and hire competent individuals, fire incompetent ones, evaluate good work product and identify poor work product. Probably the most important thing it gives you is the ability to transition from being a technician to being a manager. The best experience comes from small to mid-sized construction companies that require you to be a jack of all trades. Larger companies have a tendency to pigeonhole you into niches. That is fine if your business model is a niche, but if you start a general contractor construction business with skills in only a few niche areas, you will fail unless you hire to your weaknesses.

Second Most Important Factor: Outstanding Accounting System

If you do not have a sound accounting system your construction business will eventually fail. This CPA has witnessed this too many times than I care to recount. Sound accounting systems allow you to evaluate whether or not you make a profit on a job by job basis. Going with gut instinct is dangerous and fraught with risk. A sound accounting system helps you identify those things you do right on each job as well as the mistakes you’ve made. Numbers don’t lie. Unfortunately, my experience has shown me that most construction contractors pay little attention to their system of accounting. There is a fear that proper accounting will set the business owner up for higher taxes. Thus, cash received on a job and cash disbursed go unreported in an effort to avoid tax. What a mistake. I don’t care how great your gut feeling is on each job, if you don’t have an accounting of every penny on each job, you can rest assured you are flying blind and losing money on each job. You will go out of business and your family life will suffer. If you decide to start your own business you need to act like a professional business owner and that means creating a sound accounting system. Failed accounting systems lead to litigation, failure and bankruptcy.

Third Most Important Factor: Effective Management

When you have hands on experience in the industry, forged by many years (at least five years) of working in every facet of the construction business, you are better able to make the transition from technician to manager. Effective management requires that you have sound procedures on many aspects of your business. Well-defined work product processes, along with accompanying task-specific checklists, allows you to drill your workers on every aspect of a task within a job. You should have a work product process with accompanying checklists for just about every major task within a job. This eliminates human error and allows you to make corrections before the task is officially completed. It is a construction company owners #1 management tool. You must develop a process for each job and each task. This process must be in writing and stored in a binder for each job, along with the task checklist. The task checklist should be calendarized. Your jobs binder should include the following:

Tab #1 – A copy of the signed contract and any change orders.

Tab #2 – Budget for the job. Budget for each change order.

Tab #3 – Accounting for income and expenses. The income portion would include the contract bid price, monies received either as deposits or as the stages of the project are completed and monies received for change orders.

Tab #4 – Task List Summary.

Tab #5 – Task #1 Process Summary and Checklist.

Tab #6 – Task #2 Process Summary and Checklist.

etc.

Last Tab – Customer sign off letter on completed work along with standard testimonial letter signed by customer, listing customer’s name and contact information along with permission to use the testimonial in marketing and as a reference for prospective customers. You will transfer copies of each testimonial letter to a separate binder that you will take with you to each prospect. This testimonial binder may be the only thing separating you from your competition. It gives assurance to prospects that you take customer satisfaction very seriously and may be the difference maker. It allows prospects an opportunity to reach out to previous customers in order to obtain references. It also shows the prospect your company is very organized and well run. Lastly, have a picture of the before and after on each job in this binder.

Fourth Most Important Factor: Strong Business Partnerships

A stable of competent subcontractors who have many years of experience working together is crucial to the success of a job. Each job is a team effort and having a strong network of competent individuals/businesses available to you for each job, and who understand your businesses processes, will make each job run much more efficiently. Efficiency and competency = profit on each job.

Fifth Most Important Factor: Project Bidding Process

You can be the most skilled, best managed construction company, with a stable of talented subcontractors and still go out of business if you do not have a strong process in place on bidding for each job. You can lose your shirt if you underbid a job. How does this happen? The most common cause of underbidding is not doing your homework and relying on your gut or unverified estimates rather than a fail safe process of checking and double checking each cost within each task. The devil in any construction job is in the details. The bidding process is very much like your business plan for each job. It must identify every task, every cost and each cost must be checked and double checked before bidding on the job. Where many construction contractors go wrong is in estimating the cost of tasks incorrectly. These incorrect estimates are caused by flawed assumptions on the tasks and the associated costs, which is the result of not accurately verifying and then re-verifying every task and every cost. It is a painstaking process but you must get the bid right. Your assumptions on each task must be vetted not once but at least twice. You know the rule: measure twice cut once. This adage is particularly true in the bidding process.

Sixth Most Important Factor: Marketing

Everyone in the construction business understands the importance of referrals. Most of your prospective customers come by way of referral. But referrals are not enough. What should be part of your marketing tool belt?

1. You should have an active web site that includes customer testimonials front and center.

2. You should join a networking group.

3. You should join a civic organization.

4. You should provide valuable assistance to local community non-profit groups (one or two will suffice nicely).

5. You should have a regular process of bidding jobs that are not referral-based

6. You should have a process for direct mailings very week.

7. You should have business cards, stationary, job site signs.

8. You should advertise in the yellow pages or local newspapers.

9. Customer Testimonial Binder (referenced above).

10. You should have brochures.

Seventh Most Important Factor: Stay Current With Technology and Replace Old Equipment/Tools

You must upgrade your equipment and tools to stay current with technological changes. This will not only improve efficiency but also the quality of each job. You must also replace old equipment and tools in order to get each job completed efficiently and on time. You will know when it is time for new equipment and tools when the old equipment and tools begin breaking down at a rate that causes recurring delays. When equipment/tools breakdown it can cause cost overruns and result in late completions. No matter how good the quality of your work is, missing completion dates harms your reputation.

Eighth Most Important Factor: Hire To Your Weaknesses

No matter how much experience you have and how skilled you may be there are certain things each one of us does well and certain things we do badly. More often than not, the things we do well are the things we enjoy doing and the things we do badly are the things we hate doing. A skilled business owner will hire people who do have strengths in areas the business owner has weaknesses. As an example, one of my clients nearly went out of business because he did not like having to make calls to collect receivables. My advise to him? Hire someone who is expert in collections. He took me up on my advise and eventually, his collections expert, became his partner. His business is thriving now. Hire to your weakness and watch your business boom.

Ninth Most Important Factor: Document Mistakes and Failures

This should be incorporated into your Job Process/Task List Binder. You must learn from your mistakes. Mistakes should not be considered anything other than an experience learned. Document those bad experiences and incorporate them into your job process and task list binder so as to never repeat them again.

Tenth Most Important Factor: Change Orders

Most contracts include language regarding change orders. Change orders are caused by many factors, which is beyond the scope of this article, but let me be clear in saying that you must cost out every change order as if you were costing out the job. You must then process the change order (list each task and assign a date of completion for each task) and attach a task checklist for each new task resulting from the change order. Lastly, you must get the customer to understand and sign off on the change order or you will not collect your full price for the job. Many construction contractors unfortunately do a poor job in addressing change orders. They are reluctant to highlight it with the customer and gloss over it in an effort to avoid confrontation. The reason? The reality of change orders are not addressed up front when you are bidding on the job. Customers only see the price you gave them and that is in the contract. You must address the reality of a change order occurring at the outset of the bidding process and before the contract is signed. If a customer understands from the very beginning that change orders do occur often and that a change order will increase the price of the job, you will be less shy about confronting the customer when it does occur.

How To Prepare A Business Plan That Guarantees Big Profits

It is always said “If you Fail to Plan, you Plan to Fail”

Success in business comes as a result of planning. You have to have a detailed, written plan that shows what the ultimate goal is, the reason for the goal, and each milestone that must be passed in order to reach your goal.

A business plan is written definition of, and operational plan for achieving your goal. You need a complete but success tool in order to define your basic product, income objectives and specific operating procedures. YOU HAVE TO HAVE A BUSINESS PLAN to attract investors, obtain financing and hold onto the confidence of your creditors, particularly in times of cash flow shortages–in this instance, the amount of money you have on hand compared with the expenses that must be met.

Aside from an overall directional policy for the production, sales effort and profit goals of your product–your basic “travel guide” to business success–the most important purpose your business plan will serve, will be the basis or foundation of any financial proposals you submit. Many entrepreneurs are under the mistaken impression that a business plan is the same as a financial proposal, or that a financial proposal constitutes a business plan. This is just a misunderstanding of the uses of these two separate and different business success aids.

The business plan is a long range “map” to guide your business to the goal you’ve set for it. The plan details the what, why, where, how and when, of your business–the success planning of your company.

Your financial proposal is a request for money based upon your business plan–your business history and objectives.

Understand the differences. They are closely related, but they are not interchangeable.

Writing and putting together a “winning” business plan takes study, research and time, so don’t try to do it all in just one or two days.

The easiest way to start with a loose leaf notebook, plenty of paper, pencils, pencil sharpener, and several erasers. Once you get your mind “in gear” and begin thinking about your business plan, “10,000 thoughts and ideas per minute” will begin racing through your mind…So, it’s a good idea when you aren’t actually working on your business plan, to carry a pocket notebook and jot down those business ideas as they come to you–ideas for sales promotion, recruiting distributors, and any other thoughts on how to operate and/or build your business.

Later, when you’re actually working on your business plan, you can take out this “idea notebook” evaluate your ideas, rework them, refine them, and integrate them into the overall “big picture” of your business plan.

The best business plans for even the smallest businesses run 25 to 30 pages or more, so you’ll need to “title” each page and arrange the different aspects of your business plan into “chapters.” The format should pretty much run as follows:

Title Page Statement of Purpose Table of Contents Business Description Market Analysis Competition Business Location Management Current Financial Records Explanation of Plans For Growth Projected Profit & Loss/Operating Figures Explanation of Financing for Growth Documentation Summary of Business & Outlook for The Future Listing of Business & personal References

This is a logical organization of the information every business plan should cover. I’ll explain each of these chapters titles in greater detail, but first, let me elaborate upon the reasons for proper organization of your business plan.

Having a set of “questions to answer” about your business forces you to take an objective and critical look at your ideas. Putting it all down on paper allows you to change, erase and refine everything to function in the manner of a smoothly oiled machine. You’ll be able to spot weakness and strengthen them before they develop into major problems. Overall, you’ll be developing an operating manual for your business–a valuable tool which will keep your business on track, and guide you in the profitable management of your business.

Because it’s your idea, and your business, it’s very important that YOU do the planning. This is YOUR business plan, so YOU develop it, and put it all down on paper just the way YOU want it to read. Seek out the advice of other people; talk with, listen to, and observe, other people running similar businesses; enlist the advice of your accountant and attorney–but at the bottom line, don’t ever forget it has to be YOUR BUSINESS PLAN!

Remember too, that statistics show the greatest causes of business failure to be poor management and lack of planning–without a plan by which to operate, no one can manage; and without a direction in which to aim its efforts, no business can attain any real success.

On the very first page, which is the title page, put down the name of your business-ABC ACTION–with your business address underneath. Now, skip a couple of lines, and write it all in capital letters: PRINCIPAL OWNER–followed by your name if you’re the principal owner. On your finished report, you would want to center this information on the page, with the words “principal owner” off-set to the left about five spaces.

Examples: ABC ACTION 1234 SW 5th Ave. Anywhere, USA 00000

PRINCIPAL OWNER: Your Name

That’s all you’ll have on this page except the page number -1-

Following your title page is the page for your statement purpose. This should be a simple statement of your primary business function, such as: We are a service business engaged in the business of selling business success manuals and other information by mail.

The title of the page should be in all capital letters across the top of the page, centered on your final draft–skip a few lines and write the statement of purpose. This should be direct, clear and short–never more than (2) sentences in length.

Then you should skip a few lines, and from the left hand margin of the paper, write out a sub-heading in all capital letters, such as: EXPLANATION OF PURPOSE.

From, and within this sub-heading you can briefly explain your statement of purpose, such as: Our surveys have found most entrepreneurs to be “sadly” lacking in basic information that will enable them to achieve success. This market is estimated at more than a 100 million persons, with at least half of these people actively “searching” for sources that provide the kind of information they want, and need.

With our business, advertising and publishing experience, it is our goal to capture at least half of this market of information seekers, with our publication. MONEY MAKING MAGIC! Our market research indicates we can achieve this goal and realize a profit of $1,000,000 per year within the next 5 years…

The above example is generally the way you should write your “explanation of purpose,” and in subtle definition, why you need an explanation. Point to remember: Keep it short. Very few business purpose explanations justify more than a half page long.

Next comes your table of contents page. Don’t really worry about this until you’ve got the entire plan completed and ready for final typing. It’s a good idea though, to list the subject (chapter titles) as I have, and then check off each one as you complete that part of your plan.

By having a list of the points you want to cover, you’ll also be able to skip around and work on each phase of your business plan as an idea or the interest in organizing that particular phase, stimulates you. In other words, you won’t have to make your thinking or your planning conform to the chronological order of the “chapters” of your business plan–another reason for the loose leaf notebook.

In describing your business, it’s best to begin where your statement purpose leaves off. Describe your product, the production process, who has responsibility for what, and most importantly, what makes your product or service unique–what gives it an edge in your market. You can briefly summarize your business beginnings, present position and potential for future success, as well.

Next, describe the buyers you’re trying to reach–why they need and want or will buy your product–and the results of any tests or surveys you may have conducted. Once you’ve defined your market, go on to explain how you intend to reach that market–how you’ll these prospects to your product or service and induce them to buy. You might want to break this chapter down into sections such as..publicity and promotions, advertising plans, direct sales force, and dealer/distributor programs. Each section would then be an outline of your plans and policies.

Moving into the next chapter on competition, identify who your competitors are–their weakness and strong points–explain how you intend to capitalize on those weaknesses and match or better the strong points. Talk to as many of your “indirect” competitors as possible–those operating in different cities and states.

One of the easiest ways of gathering a lot of useful information about your competitors is by developing a series of survey questions and sending these questionnaires out to each of them. Later on, you might want to compile the answers to these questionnaires into some form of directory or report on this type of business.

It’s also advisable to contact the trade associations and publications serving your proposed type of business. For information on trade associations and specific trade publications, visit your public library, and after explaining what you want ask for the librarian’s help.

The chapter on management should be an elaboration on the people operating the business. Those people that actually run the business, their job, titles, duties, responsibilities and background resume’s. It’s important that you “paint” a strong picture of your top management people because the people coming to work for you or investing in your business, will be “investing in these people” as much as your product ideas. Individual tenacity, mature judgement under fire, and innovative problem-solving have “won over” more people than all the AAA Credit Ratings and astronomical sales figures put together.

People becoming involved with any new venture want to know that the person in charge–the guy running the business knows what he’s doing, will not lose his cool when problems arise, and has what it takes to make money for all of them> After showing the “muscle” of this person, go on to outline the other key positions within your business; who the persons are you’ve selected to handle those jobs and the sources as well as availability of any help you might need.

If you’ve been in business of any kind scale, the next chapter is a picture of your financial status–a review of your operating costs and income from the business to date. Generally, this is a listing of your profit & loss statements for the six months, plus copies of your business income tax records for each of the previous three years the business has been an entity.

The chapter on the explanation of your plans for the future growth of your business is just that–an explanation of how you plan to keep your business growing–a detailed guide of what you’re going to do, and how you’re going to increase your profits. These plans should show your goals for the coming year, two years, and three years. By breaking your objectives down into annual milestones, your plan will be accepted as more realistic and be more understandable as a part of your ultimate success.

Following this explanation, you’ll need to itemize the projected cost and income figures of your three year plan. I’ll take a lot of research, an undoubtedly a good deal of erasing, but it’s very important that you list these figures based upon thorough investigation. You may have to adjust some of your plans downward, but once you’ve got these two chapters on paper, your whole business plan will fall into line and begin to make sense. You’ll have a precise “map” of where you’re headed, how much it’s going to cost, when you can expect to start making money, and how much.

Now that you know where you’re going, how much it’s going to cost and how long it’s going to be before you begin to recoup your investment, you’re ready to talk about how and where you’re going to get the money to finance your journey. Unless you’re independently wealthy, you’ll want to use this chapter to list the possibilities and alternatives. Make a list of friends you can approach, and perhaps induce to put up some money as silent partners. Make a list of those people you might be able to sell as stockholders in your company–in many cases you can sell up to $300,000 worth of stock on a “private issue” basis without filing papers with the Securities and Exchange Commission. Check with a corporate or tax attorney in your area for more details. Make a list of relatives and friends that might help you with an outright loan to furnish money for the development of your business.

Then search out and make a list of venture capital organizations. Visit the Small Business Administration office in your area–pick up the loan application papers they have–read them, study them, and even fill them out on a preliminary basis–and finally, check the costs, determine which business publications would be best to advertise in, if you were to advertise for a partner or investor, and write an ad you’d want to use if you did decide to advertise for monetary help.

With listing of all the options available to your needs, all that’s left is the arranging of these options in the order you would want to use them when the time come to ask for money. When you’re researching these money sources, you’ll save time by noting the “contact” deal with when you want money, and whenever possible, by developing a working relationship with these people.

If your documentation section, you should have a credit report on yourself. Use the Yellow Pages or check at the credit department in your bank for the nearest credit reporting office. When you get your credit report, look it over and take whatever steps are necessary to eliminate any negative comments. Once these have been taken care of, ask for a revised copy of your report and include a copy of that in your business plan.

If you own any patents or copyrights, include copies of these. Any licenses to use someone else’s patent or copyright should also be included. If you own the distribution, wholesale or exclusive sales rights to a product, include copies of this documentation. You should also include copies of any leases, special agreements or other legal papers that might be pertinent to your business.

In conclusion, write out a brief, overall summary of your business- when the business was started, the purpose of the business, what makes your business different, how you’re going to gain a profitable share of the market, and your expected success during the coming 5 years..

The last page of your business plan is a “courtesy page” listing the names, addresses and phone numbers of personal and business references–persons who have known you closely for the past five years or longer–and companies or firms you’ve had business or credit dealings with during the past five years.

And, that’s it–your complete business plan. Before you send it out for formal typing, read it over once a day for a week or ten days. Take care of any changes or corrections, and then have it reviewed by an attorney and then, an accountant. It would also be a good idea to have it reviewed by a business consultant serving the business community to which your business will be related. After these reviews, and any last-minute changes you want to make, I’ll be ready for formal typing.

Type and print the entire plan on ordinary white bond paper. Make sure you proof-read it against the original. Check for any corrections and typographical errors–then one more time–read it through for clarity and the perfection you want of it.

Now you’re ready to have it printed and published for whatever use you have planned for it–distribution amongst your partners or stockholders as the business plan for putting together a winning financial proposal, or as a business operating manual.

Take it to a quality printer in your area, and have three copies printed. Don’t settle for photo-copying..Have it printed!

Photo-copying leaves a slight film on the paper, and will detract from the overall professionalism of your business plan, when presented to someone you’re trying to impress. So, after going to all this work to put together properly, go all the way and have it duplicated properly.

Next, stop by a stationery store, variety store or even a dime store, and pick up an ordinary, inexpensive bind-in theme cover for each copy of your business plan. Have the holes punched in the pages of your business report to fit these binders and then slip each copy into a binder of its own.

Now, you can relax, take a break and feel good about yourself..You have a complete and detailed business plan with which to operate a successful business of your own. A plan you can use as a basis for any financing proposal you may want to submit..And a precise road-map for the attainment of real success…

You just complete one of the important steps to fulfill of all your dreams of success.

What’s the Best MLM Business For Seniors?

…Let’s define BEST and Seniors. BEST first – definition: Most excellent, top, finest, greatest, unsurpassed, paramount, preeminent, superlative. WOW That’s a tough bill to fill.

Now Seniors – definition: Older, Higher, Higher Ranking, Superior, Leading, Chief, Major, Most Important (of course).

How to find the BEST MLM business for Seniors: Start by answering these questions: What are you interested in?

Do you LIKE to sell? What? Phone equipment/plans, Jewelry, Plastic-ware, Cleaning products, Nutritional products, Exercise programs/equipment, Water systems. Do you need a weight loss product? Do you like drinking shakes and dieting, taking fat burning pills, or something easier like just changing brands of something you are already using?

I could go on for two pages at least, but you get the idea. Just get on the Net and look up MLM businesses and keep clicking until you find something you LOVE. Next check out everything about the company and products to be SURE it isn’t just infatuation. Now… JOIN… OR… complete the process in the NEXT paragraph FIRST so you are SURE you’ll be comfortable with your choices. Remember not to get sidetracked by the “shining stars”. What I mean is, if you want people to join YOUR program pick a sponsor who is on the way up… not already at the top. If everyone goes with the Top Dogs, how will anyone new succeed?

Next (or first) is a little bit more difficult task: Find a coach or program you think you can work with. Someone or something that motivates you because you are going to need that motivation to do what is necessary to grow your MLM business. Go about this the same way you found your niche company. Get on the net. Now you can look up programs, trainers, coaches and you can even go to article directories like this one and check out authors who write about what you want to do. Many of them list their training sites if they have one. They even give you free training in their articles. Avoid the Top Dogs here, too.

While you are there, remember to leave a comment on the articles you’ve read. It doesn’t have to be much, even a “Thumbs-Up” will be appreciated. Most MLM on-line businesses will require you to do article writing to build up contacts for yourself, so treat others as you would like to be treated. And don’t let Article Writing scare you. There are PLENTY of programs to teach you to do that, too, if your coach doesn’t already have one built into his/her program. There are also people who can be hired for a song to do this for you.

Now you can sign up with the coach, trainer or program that suites you, and that you can afford. Follow their instructions to the letter. Stay Focused. Put as much time into it as you can manage; the rewards will come, but it does take work up front. Tackle one task at a time so you don’t become scattered. Stay on track!

Being a senior myself, I’m not too crazy about the idea of an MLM business that is BEST for Seniors (we don’t ALL want to sell rocking chairs do we?)! Because Seniors have more experience, patients (for the most part), money (well, maybe not these days), wisdom (you gotta give us that) and Moxie (when was the last time you tried to “put one over” on a senior?)!

Consequently, ANY MLM Business would fit because it isn’t the business, it’s the way it’s MARKETED. So more importantly, what is BEST for YOU? And THAT shouldn’t have anything to do with whether or not you are a Senior. Is there a BEST MLM Business for teenagers?

I’m not trying to get out of fulfilling my commitment of telling you which MLM business if Best for Seniors, but I think you can see: there is no ONE answer to that question… Other than: Everyone is different with different interests, so no matter what social structure you fit into YOU need to find the RIGHT MLM BUSINESS for YOU. As a Senior, you have more wisdom and insight than you did years ago, use them to answer the above questions and find the Right MLM Business for YOU no matter what your age!

Another point, of course, is Seniors may be even MORE suited to an MLM business than the youngsters out there. Providing you aren’t “stuck” in your ways. Seniors can be young in a lot more ways than one can imagine. Most of us look in the mirror and wonder who we are seeing because we don’t FEEL that old!

So an MLM business could be just the perfect set up to keep us Seniors Acting even younger; by giving us hope, excitement, anticipation, the chance to help others, and something to dream about again. I don’t think I’ve ever seen anyone more determined than a Motivated Senior! Now Start Looking!

Why Your Business Should Invest Into Direct Mail

Like any good entrepreneur, I’m always thinking of ways that I can develop and grow our businesses and brands. One of the best marketing strategies does not occur in the digital world. Each week, one of my companies sends out over 1,000 pieces of direct mail. We have an excellent response rate, even with a younger demographic target audience.

Think about it; people are deluged with emails, social media posts and instant messaging. In the digital world, it’s a novelty to receive a great piece of direct response material in the mail. However, there are a few differences in what we do in our direct mail than what was done in the old school days.

  • We experiment with all types of colorful pieces.
  • We rarely send any letter.
  • The pieces are always vibrant with images and very little copy.

There are a couple of reasons why your business should consider direct response to prospect and grow your business.

  • Response Rate: Last year, Compu-mail noted, “Direct mail household response rate is 5.1% (compared to.6% email,.6% paid search,.2 online display,.4% social media). This is the highest response rate the DMA has ever reported, since coming out with the Response Rate Report in 2003.
  • Personalization: When your prospects receive mail (not including bills), particularly those who are of Generation X or older, there is a familiar feeling. The older generations still like to receive something in the mail with their names on it. They can touch the piece, and there’s something novel about it in today’s world.
  • Generational Myth: Believe it or not, a sizable portion of Millennials also like direct response because it’s something they too can touch and hold. According to a Forbes article, 36 percent of people under the age of 30 like to check their mailboxes, and 95 percent of those between the ages of 18 and 29 have a favorable view of mail, such as personalized cards.
  • QR Codes and PURLs: Companies have been experimenting with testing QR and PURLs (personal URLs), which redirects a person who receives a piece of mail back into the digital age. Since most people now have a smartphone, these codes can be scanned by the target audience for more information.
  • Messaging: If you’re doing a particular project or sale, consider using direct mail to bolster the urgency. My team and I have gotten high response rates to direct mail pieces that have had a deadline to partner with our companies. One of the key reasons we have seen this work is because with all of the emails people receive, lots of times they are dismissing this form of communication quickly just to get through their email box.
  • Multi-channel Marketing: Direct response is an excellent way to support your digital marketing efforts. We know that people have to see your brand and logo multiple times for it to begin to “stick” in their minds. Direct mail helps reinforce your brand’s digital efforts. Prospects not only see you in the digital world but also in the “real world.”
  • Testing: Direct mail provides your business with an opportunity to test another method for reaching out to your prospects. We’ve tested direct response with high-level prospects in our target audience, and the new accounts we’ve obtained has paid for the mailing expenses
  • Easy Analytics: Direct mail results are straightforward to understand. You don’t need to have anyone on your team sign-into a digital platform to pull a report for you. Direct response provides you an easy way to see how much you spent against the amount of new business you achieved.
  • Credibility: Direct mail, because it’s familiar and tactile, gives the recipients an automatic sense of your credibility. We live in a world of “fake news” and raging social media debates about content in the digital space that is authentic and real. Direct response cuts through the noise and instantly gives credibility because of the investment and its familiarity.
  • Creativity: Direct response is an excellent way to experiment with color, size, shape and different packaging for your pieces. Sophisticated marketers are experimenting with many different types of mailings to stand out from a regular sized and traditional letter and envelope, which encourages people to look at the piece.

The Data & Marketing Association (DMA) has reported that direct mail has declined. However, in a digital world where people are inundated with massive amounts of content, direct mail stands out as a creative way to cut through the noise. At the very least, direct mail is an excellent complement your digital efforts, and at best, it’s a great way to obtain new business.

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