Archive for May, 2009

Let’s face facts…. the economy stinks and the job market is a joke. The more experience you have, the harder things are. Why? Kids fresh out of school are willing to work for far less than we are, so we’re being put out to pasture while we still have plenty of good years ahead of us. If you think it’s easy finding a job in your 40′s….. think again.

Well, fortunately, earning a solid income from home is not only possible, but it’s not as hard as you might think. Yes, it takes work, but the steps involved are not that complex. This article is going to outline the 3 simple steps to earning a solid income from your home.

The first step is the hardest but will also set the foundation for everything else that you do. You need to target a market. There is a very simple way to do this so that you’re not beating your head against a wall. Go to a keyword research tool of your choice and look up keywords in you selected market to see how many people are actually interested in it. You can’t supply something if there is no demand.

The next step is to plan out HOW you are going to monetize that market. Let’s say you decide to target the tourism market. What are you going to do? Are you going to write your own book on the subject? Are you going to promote an affiliate product? Are you going to sell memberships that provide people with savings while they vacation? All of this must be thought out before you even begin anything.

The final step is the easiest… Market. There are so many ways to market on the internet, its ridiculous. If you’re low on funds, the best ways to market are free or low cost. Articles, forum participation, good old fashioned search engine optimization, there are even some low cost solo ads around. By combining as many forms of promotion as you can, you’ll begin to see results quickly. Then, as you start to see income, you can invest in more expensive forms of advertising.

That is all there is to it. This isn’t rocket science. Find a market problem or drawback. Find a way to turn the negative into a positive. Market your solution. Naturally, there is more detail for each of these steps, but this is the general idea.

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Article Source:http://www.articlesbase.com/small-business-articles/earning-a-solid-income-from-home-is-not-only-possible-937847.html

The good news – banks seem to be picking up their lending to small businesses.  The bad news – it is mostly SBA loans and you still have to qualify.  Bank standards have not changed or been reduced – but banks are now more willing to look at SBA backed loans – given “well qualified” borrowers.

With this never ending recession – the number of qualified borrowers is dropping like a sky diver without a parachute.  Bad economies put such huge pressure on individual financial situations combined with nearly impossible bank requirements nearly all potential entrepreneurs are essential shut out of the their markets in terms of obtaining a small business loan to start and grow their business.

Thus, new small business owners have to find ways to get creative in financing.

Here is an example of using personal loans for business start-up capital:

If you are still employed, still earning a salary or wage, but are thinking about venturing out on your own, this is a great time – starting your business at a point that the economy can only trend upward.

Getting financing for any purchase in life is called leverage.  Leverage means using cash flow – be it from a job or other means – to finance items that would take years – if not decades to save up for.  Leverage also means using your current situation – either your salary or wage or small business income to get working capital or make a large purchase and let that purchase pay for itself.

With that in mind, potential business owners can leverage their current situation (current income), apply for a personal loan – then get their venture started using those funds.

Once you have the capital in hand, for the most part, you can use it any way that you deem the most beneficial – including starting a small business.

There are non-bank sources of capital – that provide personal loans up to $125, 000 – that is a lot of money to get a business off the ground.

There are also other non-bank financial companies that provide smaller amounts in personal loans up to $30,000 – that are easier to acquire – e.g. less focus on credit or income.

The key here is that in order to start a small business you do not necessarily need business capital – as all money is the same color.  Additionally, for those facing other bank requirement issues like time in business or profitability or even collateral, personal loans may be the only answer.

In my opinion, if you have a great business idea but only lack the funds to get it off the ground; you should use any and every resource available to you – otherwise all you have is a great idea.

Joseph Lizio holds a MBA in Finance and is the founder and owner of Business Money Today – www.businessmoneytoday.com

Article Source:http://www.articlesbase.com/small-business-articles/using-personal-loans-to-start-your-small-business-937866.html

If you are already a member of Maverick Money Makers, you are aware of the huge amount of quality content and education you can find inside the Club.

However, I have seen new members struggle to attain results because they usually feel a little bit overwhelmed by the incredible amount of content and they simply do not know where to start.

If you fall into this category, you have to clear your mind and drop your current approach so you can make the most out of this internet marketing community.

First, do not skip any of the tutorials. I know that some may seem a bit lame, because particularly the introductory ones are not straight to the meat, but believe me, if you watch and listen closely, there is a lot of value in them to help you get the right mindset to start working effectively.

Second, be patient, do not rush things, test and evaluate everything you learn. There is no better way to improve the performance of your business than a continuous process of trial and error.

Third, stick to one method or strategy at a time until you nail it. Only then, move to the next one, because if you do not do this not only are you missing on valuable money making opportunities, but also you are confusing yourself and probably hurting your ability to develop other areas of your internet business.

Fourth, if you want to speed things up, go to the “quick money blueprints” section, which contains a set of tutorials designed precisely to help you get results particularly fast. Try not to start picking tutorials randomly.

Fifth, you need to be organized and follow a routine. Do not take a look at the tutorials one day an then the next week start putting what you learned in practice. Try to dedicate one or two hours everyday to one tutorial and immediately start executing the methods and strategies you just learned.

Abide by this and you will see consistent results within the Maverick Money Makers Club and your internet marketing business will grow fast.

If you are not familiar with Maverick Money Makers you can learn more about this Club at the: http://www.specialonlinebusinessreviewauthority.com

Visit the Online Business Review to share with us in depth information about online business oriented tools and resources proven to deliver results.

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Any business owner who is struggling to stay afloat in the current atmosphere of declining sales would be wise to heed some key advice taken directly from savvy business consultants.

Economic woes seem to be a global problem lately. The only way that you can remain profitable, and perhaps even increase sales, is to take a good, long look at the state of affairs in your company.

What to Do Right Now

Unfortunately, time is of the essence when it comes to protecting your business. These are the first steps to take:

• Perform an unbiased review of processes in your organisation. Develop new ones, rework existing ones, and adapt as necessary.
• Be ruthless in deciding what offerings are profitable and which are not. If a product or service is not selling, get rid of it.
• Lean Manufacturing principles are good to review, even if your business does not manufacture products.

Ways to Improve Your Business

Most business consultants will offer some valuable advice to get your company back on track. Here is a sampling of some of the things they might recommend for your company.

• Schedule regular meetings for both managers and employees. This is one of the best ways to keep on top of what is happening in your business, now.
• Ensure you have a tracking system in place that assures customers are getting the products and services they request.
• Send out a customer satisfaction survey. If your customers are not pleased with your company, than nothing else really matters.
• Review your quality control procedures and make sure everything you provide to your customers is of top quality.
• Stay on budget. If any department is going over budget, then scrutinise why and take appropriate action immediately.
• Ensure that your accounts are paid up. Take action to collect on any accounts past due.

What You Must NOT Cut From Your Business

Perhaps the most valuable piece of business advice in the current economy is that there is one thing you cannot do without: marketing.

Now is not the time to scale back your marketing efforts or decrease your budget for advertising and promotion. Competition is at its most fierce, and the only way your company will stand out from the crowd is through effective marketing. Are you losing customers? Then get new ones via promotional tools.

These tips are some of the best advice gleaned from business consultants worldwide. If you are concerned with the state of your company’s finances, then don’t wait. Start making changes now.

Chris Jenkinson has been a business consultant for many years. He provides further advice about consulting services on the GizTheBiz blog.

Article Source:http://www.articlesbase.com/small-business-articles/business-advice-for-a-bad-economy-936028.html

Are you in the market for a car or a computer but don’t want to pay retail prices?  Try buying at a Phoenix surplus auction!  This article is designed to provide you with the details on what a Phoenix surplus auction is and how they work.  Specifics may vary from auction to auction; however, the following information includes helpful and important guidelines from which everyone can benefit.

Have you ever wondered what happens to all of the equipment that is purchased each year by federal, state and local government agencies, and school districts?  Well, don’t worry – they don’t just toss it out in the garbage!  In fact, in most states they are required by law to sell unused and outdated equipment back to the public at an auction!  

Phoenix surplus auctions can feature just about any kind of equipment – vehicles, boats, computers, office furniture, heavy machinery, industrial tools, military equipment, aircraft and more.  Some of these items are in brand new condition, some are used and a very small percentage are no longer usable.

Phoenix surplus auctions are conducted in two ways: live or online.  In a live surplus auction, only bidders who are physically present at an auction onsite are able to bid.  These auctions usually have a notation that reads “Sorry No Online Bidding.”  The agency or school disposing of the property usually posts a public notice about the surplus auction, including information such as the location, date, time and a list of the items that will be auctioned off.  

When you bid on items at a surplus auction, in most cases you are agreeing to accept the item “As-Is.” “As-Is” means there is no warranty on the property and the bidder is responsible for removal from the auction location.  It also means that the bidder must rely on their own information to make bidding decisions – the bidder is responsible to inspect the property!  There is almost always an inspection period that is granted, usually the day before the auction, so that bidders can look at the items they are interested in bidding on.  Live surplus auctions are open to the public, but you must register in order to bid.

Online surplus auctions are also open to the public.  In fact, they serve a wider audience as anyone with a working internet connection can bid after they register.  In most cases, surplus auctions are actually held in both live and online setting simultaneously.  This will be noted in the auction publication.

You can purchase a lot of equipment for much less than retail price at a surplus auction.  Remember though, to bid with your head and not above it. Research carefully what you are interested in and what it would bring in if you intend to resell it. Set a firm price in your mind and don’t go over that price. Don’t ever get caught up in the heat of the moment when the bidding starts going crazy. Take a step back and re-evaluate before you pay more for something than you originally intended!

Deb Weidenhamer is CEO of Auction Systems, the Southwest’s most active auction and appraisal company. Learn more about what a surplus auction is and check out our Phoenix surplus auction schedule. Visit us online or call 800-801-8880 for more information.

Article Source:http://www.articlesbase.com/small-business-articles/what-is-a-phoenix-surplus-auction-learn-today-and-save-money-932498.html

One of the biggest problems that small businesses face is the rising costs of Health Care. Do you own a small business and work with your spouse? Do you think you are taking all the legal tax savings possible? Chances are you are not.

Let me tell you about one of the best-kept secrets to lowering your health care costs quickly, the

Health Reimbursement Arrangement!

The Health Reimbursement Arrangement Plan is an overlooked tax advantage available to sole proprietors. They are called HRAs or IRC 105(b) Plans.

A legal loophole allows sole proprietors access to HRA Plans. The provision allows spouses and the spouse’s family members to be covered. The sole proprietor can offer HRA plans to their employees, but cannot be covered under them themselves. However, if your spouse is an employee you are able to be covered under the plan.

Tax Benefits To The Sole Proprietor for offering the plan:

Funds you pay out to employees and any covered family members through an HRA Plan are an allowable business deduction for income tax, and if your spouse and family are covered it also can be deducted for self  employment tax purpose. Virtually any out of pocket expense used for your health care can be deducted as a full business expense so no state, federal or self employment tax. Imagine in addition to your health insurance and dental premiums you could add co-pays, deductibles. over-the-counter medications, vision and eye care, prescription medications, Physicians office visits, Chiropractic Care and much more.

The Two Main Questions The Self Employed Ask:

1. I thought I was already deducting my insurance premiums and

2. I am self-employed and deducting my medical expenses

Here are the facts:

1. 100% of health insurance premiums became tax deductible for the self employed starting in 2003. The self-employed can take the deduction whether they itemize or not. However. most tax payers are unaware that the 100% health insurance deduction only affects income tax and does not reduce the income tax when calculating Social Security taxes. The 15.3 % Self -employment tax is still paid on insurance premiums. If an employer elects to establish a Section 105 plan for a spouse/employee, the social security taxes are eliminated for the employee as well as the employer!
2. Medical expenses are deductible if the self-employed itemize deductions, however, they are only able to write off deductions in excess of 7.5% the Adjusted Gross Income. The following are two examples:

• If Adjusted Gross Income is $60,000 and you have $6,000 in out-of-pocket medical expenses you can only deduct $1500 ( $60,000 x .075=$4500 and $6,000-$4500=$1500
• If Adjusted Gross Income is $40,000 and you have $3,000 in out-of-pocket medical expenses you can deduct $0.00! ($40,000 x .075=$3,000 and $3,000-$3,000=$0.00)
• With a Section 105 Plan the employer can deduct the entire $6,000 or $3,000 as a business expense

How Do I Set Up My Own 105 HRA Plan?

Legally, any individual could administer a HRA for their business. However, they would need to be familiar with complicated tax codes and supply all of the legal documentation required by the Internal Revenue Service (IRS), The Department of Labor (DOL) and The Employee Retirement Income Security Act (ERISA). The IRS also requires that reimbursement of all medical expenses deducted through a HRA to be substantiated through a independent third party.

Call me at 404-492-7942 or email me at quentinmoses@gmail.com now to see if you qualify and possibly save over $3800 in taxes this year!

Google Profile:

Quentin Moses is a licensed Life and Health Insurance Agent in Georgia who helps Small Business Entrepreneurs in Atlanta protect their Family & Assets. Quentin has over twenty years experience working with business owners and their investments on Wall Street. He has conducted the workshop “Health Insurance for Small Business” for SCORE Atlanta.

Email quentinmoses@gmail.com if you would like a free consultation

My Google Profile: http://www.google.com/profiles/quentinmoses
if you own your own Small Business

Article Source:http://www.articlesbase.com/small-business-articles/the-real-secret-to-quickly-cut-your-small-business-health-care-costs-932897.html

Small Business Startup Tips

Have just one captain – decide who’s really in charge of your small business because shared responsibility is no responsibility.
Create and communicate – be really clear about the roles and responsibilities within your company and articulate your vision. By doing so shows to your staff that you have a clear direction which in turn leads to a successful business.
Focus – be careful not to lose sight of your goals, no matter what gets thrown your way. Remember to keep a close eye on the financial side of your business too.
Plan (P.P.P.P.P.P.) – Prior Preparation Prevents a Pretty Poor Performance.
Develop more systems – systemise the routine; humanise the exception.
Practise – make sure your customer service is cutting edge and superior to your competitors.
Think – spend some time thinking about the various ways to be different, innovative, creative and exclusive.
Don’t pretent or delay – learn to take action right now!
Go that extra mile – build great rapport and long-term relationships by doing that little bit extra.

Another important thing to remember while your trying to manage the plethora of things you need to do during the work day – and that’s to have FUN..!

There is one quote that changed my life and I still refer to my piece of paper stuck to my wall each day. “In a hundred years time, it won’t matter what your bank balance was, what house you lived in or the car you drove. The only important thing will be the impact you have had on a child’s life”.

Pretty strong words, don’t you think? Starting up a business is both rewarding and challenging. To be successful, just work hard and the rewards will come!

Marc

www.cashflowintoaction.com

I’m a CPA that makes a difference! I have been advising on business strategies for many years and I’ve come a long way in my journey to help create successful businesses for people who have little or no financial knowledge. Share with me some of my tips and

Article Source:http://www.articlesbase.com/small-business-articles/my-top-tips-for-developing-a-great-small-business-933238.html

To establish a small business in Canada the first thing you need to find out is some small business grants for funding your business. It is not an easy task although to locate the best available grants in Canada. Most of the small business grants Canada government offers are restricted to some specific types of business at specific locations. And to avail those, you have to abide by certain terms and conditions and invest some amount of personal money as well.

Though there are quite a few subsidies for funding small business, to find out a small business grant you have to search really hard. You have to know where to look for to get a grant which would not have too many terms and conditions and will be easy to avail. As there is no readymade list available for the small business grants Canada government has, to follow some guidelines would always be helpful to make the search less difficult.

If you log on to the websites of Canada government, you will rarely find the term “small business grants”. This is because the government offers very limited grants for small business. Instead of searching for small business grants Canada, you can look for contributions, subsidies, rebates, tax rebates, shared costs, or non-repayable loans. This can be helpful because through these searches you can find out some non-repayable funding for your small business, which can actually serve the purpose of a small business grant.

Businesses which fulfill the criteria of availing grants from Canada government or those located in areas which are specified for government grants, can obtain the small business grants Canada easily. But for other businesses, obtaining funds may be slightly difficult. In Canada, retail businesses receive the least funding from government grants. And businesses located at a particular area get more grants than those of other areas. So, you must plan to locate your small business accordingly to get the best possible grants.

The core sites of the Canadian government are helpful in providing the lists of small business grants Canada government assists with. The Industry Canada Website will give you information about the available government grants in your region. Another such helpful core site is Canada Business Network. And you can also visit the regional Business Service Centre websites, some of which will have helpful information on small business grants.

To make your search more specific, you can look for grants which are available for the particular type of small business that you want to start. Searching on the Canada Business Website by Business Sector can be helpful. Searching through search engine may also useful if you know where to look for.

If your business will be involved in exporting, research and development, or improvement of the environment, chances of getting a small business grant for your small business will be much higher. Special emphasis are now given on developing alternative energy sources and green energy options.

Though the small business grants Canada government offers are few in number, by putting yourself at the right position, you can easily avail the grants for funding your small business.

To start a small business in Canada, you must find out information on small business grants Canada government offers for funding your business.

Article Source:http://www.articlesbase.com/small-business-articles/finding-grants-for-small-business-in-canada-becomes-easy-with-some-tips-932880.html

In the past few months, we have seen how the world economy has been turned topsy-turvy. Jobs were lost and many people around the world lost fortunes as the share markets worldwide crashed. What is the way out for people who invested in these financial markets in order to finance their businesses? Are we living in an earth where the governments of the world cannot take care of its citizens? That is the not the case, thankfully. Free grants available in the form of government grants are an answer to this issue.

When we think of governments and their departments, the first thought that comes it mind is the long administrative procedures. Nothing seems to move and one waits for endless days to get the job done. That is not the case always. Every year, when the government prepares the budget, a considerable sum is kept aside to be utilized as free grants. Government grants are utilized for the purpose of funding people who want to go that extra mile and do something worthwhile, but sadly lack the finances to do so.

It is common knowledge that government grants are for non-profit entities. That is a myth. Free grants are available for entrepreneurs, usually small businesses. It doesn’t matter what is the social status of an individual or what is the financial background of the individual, free grants are for all and sundry. People stay away from these government grants primarily due to ignorance or for fear of rejection. Yes, it is not mandatory that free grants are made available to every person that applies, but the chances of approval are quite high. Background checking and other formalities are carried on, but if someone wants to make an honest living and contributes to the betterment of the society, government grants are a viable option.

Say, someone who wants to set up a new business and requires working capital for buying assets like equipments, supplies, office space, machinery, computers etc., availing a free grant is a great idea. Government grants don’t limit it to people setting up new businesses. What about those people who want to expand their current business? Free grants in the form of government grants are available for them also. Expanding one’s business could entail relocation too. Government grants can be used for relocation expenses too!

Many of us fear taking loans because of the high interest rates. To address this issue, government grants are available at very low or no interest rates. Although there is a background checking done, it is nothing like credit checks. Another attractive feature of government grants is there is no need for collateral or a guarantor. In fact, the government, in some cases, acts as the guarantor itself to help people take loans from banks. To dispel other similar myths about government grants, governments have spared no expenses in advertising about free grants. There are multiple websites that offer information on availing free grants and even help people apply for them.

So, if you are interested in doing something good for the society and believe in the gospel that businesses should be run with a profit motive in mind, but in an aesthetic manner, go ahead and apply for your free grants today in the form of government grants.

Are you a potential or an existing entrepreneur who is looking for financial support but don’t know how? Apply for free grants available in the form of government grants and fulfill your dreams.

Article Source:http://www.articlesbase.com/small-business-articles/grant-money-available-in-the-form-of-government-grants-932893.html

So, you started your own business! You should be proud of yourself.  Now, as you know the first twelve to eighteen months are the crucial ones. Statistics show that if you can make it that long, you have a great shot of being in it for the long term. One way that I can help you with this mission is what NOT to spend money on when starting out. I for one thought I needed all the latest and greatest to make my company a winning one. Well, it couldn’t be further from the truth. While being frugal with your capital and revenue is not fun, it is not a bad thing. In fact, it is a great thing. Spend your money on things that will add value to your organization and in the long run, earn you money. Its easy to figure out what to spend money on, but sometimes it is necessary to remind ourselves of what we don’t necessarily need.

1. Staff. Do you really need an accountant, bookkeeper, secretary or IT professional right away? Think about outsourcing jobs that are not essential to the running of your business. Virtual assistants and secretaries are quite prevalent and necessarily much less expensive than hiring somebody for eight hours a day, five days a week. When it comes to the bookkeeper or accountant, these are indeed very important positions. I don’t know what I would have done without mine, but with that said, you don’t have to put an expensive retainer agreement together. A bookkeeper can come in once per month to balance the books if you can’t do it yourself. When money is tight, you will learn to wear many hats. It might be mind numbing in some cases, but you will learn a lot.
 
2. Office Space. If you are truly adamant about not running your business out of your home, which will indeed save you a kazillion dollars in start up costs, than I would suggest finding a desk/cubicle situation in a suite of other offices where you can take advantage of all the services including a conference room, that usually is included in these situations. But this is NOT a cheap option. If ego is getting in the way of a fabulous home office, even if it is in your garage, get over it! Some of the largest companies were started in a garage. It’s true. Google it.
 
3. Advertising. Any sort of advertising is generally expensive with regard to your return on investment. You must do a lot of research and figure out if the demographic that will be seeing the ad can turn into potential clients. I would save money in the beginning and put your energy toward networking. Join your local Chamber of Commerce; Create a great logo and corporate website on which you will blog, blog, blog and link to your social media outlets such as MySpace, Facebook, YouTube and Twitter. These are free and you can leverage your contacts and expand your universe. For my money, there is absolutely no substitute for creative marketing campaigns, whether they are grassroots based or guerrilla in tactic to get some buzz going. Further, in lieu of advertising, try writing some articles and distribute them through free article directories and press release services, which you can link to your website. Aha!
 
4. Expensive Software. With so much free online software available why spend hundreds of dollars on the name brands. With this said, however, if certain software is particularly important to the running of your business, then by all means, buy it as long as it is in your budget. If you can afford last year’s version, but not the latest one, buy that for now. I am really speaking to those of us who don’t need Dreamweaver, when creating a blog. 
 
5. Expensive Collateral Materials. I am not talking about the inexpensive business cards that you have made up for yourself on your computer. What I am questioning are the pricey name cards on thick textured cardstock in multiple colors, only to have them be stuffed away in a rolodex. Nor is it necessary for the success of your company to produce pricey four color fold outs extolling your services. Trust me when I say that you can create beautiful informational pieces inexpensively. You may want to check with people in your professional networking groups if they have ins with printers and the like so you can save even more money.

Marley Majcher is the CEO of The Party Goddess!, a nationally acclaimed full service event planning and catering company and is a regular on air contributor to national TV shows discussing all things lifestyle, entertaining and how she assists small businesses, solopreneurs and entrepreneurs go from 0 to profitable in record time. Majcher currently spends any free time she might have, usually between 10:45pm and 11:15pm on Tuesdays planning her own annual blowout party every November.

Take a look at the company’s website at www.thepartygoddess.com to see what The Party Goddess! does for clients, and get some great ideas for your next party or event.

If you are thinking of becoming a party or event planner or just want to learn more about it, go to: http://www.howtobeapartygoddess.com. Here you will learn what it takes to be a rockin’ party planner and how to start a new and profitable business.

If you are a small business owner, entrepreneur or solopreneur and want to take your online, service oriented, manufacturing or creative company, from 0 to profitable in record time, check out Marley’s much followed business site at http://www.butareyoumakinganymoney.com.

You can always email Marley at info@thepartygoddess.com

Article Source:http://www.articlesbase.com/small-business-articles/the-top-5-things-to-not-spend-money-on-when-starting-your-business-928138.html