Business Plan

Unsecured Line of Credit – Very Easy to Apply Online

2012-02-08T06:45:00.000-08:00

Getting cash in a short time can be a problem for anyone whether personal or business. If you love shopping, you may be considering applying for personal loan can provide cash quickly and easily. However, you should be able to use the loan wisely. In addition, the loan could also be an option for executive. Businesses can apply for Business Loan to get cash to meet the various needs of the funds in their business. In applying for loans, you should choose the unsecured loans because the loan procedure easier. For small businesses, small business loan can be a right choice. These loans are available for business people in a smaller scope.

Unsecured personal loans would be very helpful for personnel to obtain cash to fund a variety of personal needs such as treatment costs, medical costs, or utility bills. While, unsecured business loans are an option for entrepreneurs to get funding that can cover a variety of business needs. Executives can use the cash to pay for office rent, office electricity bills, or other. Nowadays, there are many lenders available on the internet. Lenders provide online services for borrowers who wish to make a Lines of Credit. If you wish to make Unsecured Line of Credit online, you should be able to find lenders trustworthy and reliable, so you can get cash match what you expect.

Gangbang Sex? You Got Them All, Mates

2012-01-20T10:42:00.000-08:00

Need some good porn to enjoy? You have this Bang You Later site with you that will be able to give not just some good porn videos and movies, but actually the best porn materials ever. Add to these all best and high quality of porn materials is that this site provides completely free sex movies and videos for you to enjoy, either though downloading or streaming process. So yes, you have to do nothing but to enjoy the very best materials of porn movies ever.

Moreover, this site does not just give you some sex movies to enjoy. They do give you all categories of sex videos you could think of, or want to, enjoying. If you want to look for more gang bang sex related movies, you are welcome to check the site’s collections for free. Feast your eyes already with the highest quality of porn videos where you could even select your own materials to download or stream. There are many movies of inter-racial sex parties which will easily satisfy your desire to find the best porn materials ever.

Of course, sex-ethnicity is not just what this site is best of. A school girl getting fucked in all possible holes of her sexiest body might be something of your interest also (or it must be, right?). And watching a very hot brunette MILF being gang-banged by her own son’s friends (yes, it could get hotter even when her own son is participating!) will easily be ones of your own porn most favorite videos and movies. And do you really want to what the best thing of all in this site? They could give you even more porn videos for those categories, as well as any other categories of sex videos and movies. Yes, they are free site and they are constantly updating!

Strategic Business Planning

2012-01-09T21:40:00.000-08:00

To many managers, the term "business planning" is a buzzword to describe what 30 years ago was conceived as the financial budget, and therefore the restricted realm of the accountant. To others it may represent a document required to obtain an overdraft or a loan from their bankers. A business plan may prove to be the most important document that may be compiled in any business. This paper aims to eliminate such taboos and simplify what the strategic business planning process is all about, and how its benefits could be maximised by the management of a business.

THE TERM "STRATEGIC BUSINESS PLANNING"

When we speak about a strategic business plan, the message to be conveyed is about the strategies and tactics to be adopted by an organisation to reach its missions and goals. An integral part of the plan is financial in nature, but the strategic business plan is no plan at all if it does not address marketing, human resources, ICT and all other resources needed to integrate and fuse the organisational efforts to achieve targets, in terms of maximisation of profits. Thus, an effective business plan should serve FOUR underlying purposes:

We could keep going on asking questions as much as we would like our plan to be detailed. Probably the answers to some would need more effort in terms of time and resources than others. The most important factors which determine this preliminary stage of planning is to ensure that we are asking ourselves the right questions, that they are leading our business in the direction we want it to go. On the other hand, a manager must be aware of asking too many questions that lead nowhere. The objective of this process is to enable the manager to grasp what the target is and then plan on how to achieve that target.

Should You Write Your Own Business Plan?

2012-01-09T21:30:00.000-08:00

If you are just starting a company and looking for funding, or looking for additional funding for growth, you will need to develop a traditional business plan. Creating a business plan is a business hurdle that entrepreneurs seem to dread. Do you do it yourself? Do you hire someone to do it? How do you get it done quickly, but without spending too much money on it? Will what you do yourself be adequate to get funding?

In this article I will discuss the pros and cons of do-it-yourself business planning versus having a business planning consultant do it for you or with you.

The Do It Yourself Business Plan

Particularly if you are seeking capital of less than $200,000, consider creating the plan yourself after taking a class or reading some books or getting some coaching for someone who has written successful business plans.

Consider taking a three-hour business planning class through SCORE or the local Small Business Development Center. Even if you decide afterwards not to write your own plan, you will have a much better idea of what you want out of the process and what to expect.

There are some good reasons for an entrepreneur to do the business plan:

First of all, because you can. If you've read sample business plans and find their accounting jargon intimidating, you are not alone. But as long as you can clearly get your message across and have other people such as you accountant look at the plan before it goes to lenders or others, you can do this work yourself.
It is in learning the business planning process that you develop analytical thinking skills necessary to run your business with an intimate understanding of your own business model. Going through the planning process is an invaluable business experience.
You need to know the plan inside and out and really understand the variables involved. You are the one who will be asked the tough questions by potential investors or lenders, such as "What will you do if only half your expected revenue comes in?" or "What will you do if you find out that direct mail is not working for you as your primary marketing tool?"

How To Prepare A Business Plan That Guarantees Big Profits

2012-01-06T09:55:00.000-08:00

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 thru 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...

Events; New Trends, New Technologies, the Future…

2011-08-23T13:42:00.000-07:00

Since the creation of this blog we have posted different areas of the event planning industry that affect events; from trends to how to acquire the money for the creation of a new event planning company. But, what’s next? Are events going to survive the economic depression? Are there any new ideas? New trends?

Gladly, I can say that the event planning industry is a thriving one worldwide. It is considered a billion dollar industry, with a stable spot within the entertainment industry. However, like everything else new trends, topics and ideas are being established in order to appeal to a more technologically and modern audiences.

One of the most modern and popular trend are Green events. Previously, we explored how trade-shows and conventions are incorporating the green trend in order to be more environmentally conscious regarding their displays and presentations. Another green trend that has emerged is green catering. Caterers have boosted their revenues with eco-friendly practices. Not only are they helping the environment but also they are appealing to a green customer with the desire of having an environmentally friendly event.

According to the article, Green Grows the Greenbacks: Some caterers Boost Revenue with Eco-Friendly Practices, on the magazine Special Events, reported that

“Though the green practices themselves—such as cutting energy use and trash-hauling costs—tend to be revenue-neutral, Cuccaro says, the big payoff comes from green-minded clients. "We definitely pick up more business as a result" of green practices, he says.”

This is a very good service event planners can suggest their clients who are on board with green events. Not only are helping the environment but we are creating conscious events that are modern and appealing to new modern clients. New trends are always emerging is up to event planners to be constantly researching new ways and techniques to create one-of-a kind events that are appealing to the always changing entertainment industry.

As a recent college graduate I have learn the importance of research and thinking outside of the box. It is important to understand the industry, know what and how things are being done. This is the only way to make yourself stand out from the competition, in addition this way you or your company will always have a competitive edge. Learning about all the different components that make a successful event has definitely given me an advantage over those already established companies that have stayed behind.

Resources:
- http://specialevents.com/green_events/some-caterers-boost-revenu-with-eco-friendly-practices/

Investors Wanted for New Business Opportunities.

2011-08-14T13:20:00.000-07:00

As we all know the business industry is currently undergoing a global crisis. However, investors and other investing organizations are willing to fund potential ideas. Amazingly, there are numerous ways of acquiring funding for a new venture or for expanding already successful businesses. Sometimes funding will come from the most unexpected places; all you have to do is do the correct research.

For the last couple of posts we have established the importance of having and/or creating a business plan. We have also stated that one of the most important areas of the business plan is the financials. Now, after completing your business plan your next step is to begin looking for investors.

After doing some research myself, I have stumble upon some organizations that have very successful financing opportunities. The National Committee Investment Fund (NCIF) is one of these organizations. The National Community Investment Fund is a non-profit, private equity trust that invests in banks, thrifts and credit unions that generate both financial and social returns. To be considered a CDBI, an institution must focus a substantial part of its business on low- to moderate-income people or communities.

“NCIF invests in CDBIs that display both strong financial and social performance. To determine if an institution meets these criteria, NCIF evaluates the institution using a Development Impact analysis as well as an internal CAMEL analysis. In addition, the institution must also provide a planned exit strategy.”

The CAMEL analysis is explained in detail on the diagram to the left. If you meet NCIF’s qualifications make sure you look for more information on the requirements and the steps to take in order to be funded by the NCIF. For more information on the national Committee Investment Fund you can click here.

Another help for small businesses, especially Micro-businesses is the AEO, Association for EnterpriseOpportunity. AEO is a national membership organization and voice of microenterprise development in the United States. AEO's management team is focused on working with our members and partners to pilot new initiatives. One of the new initiatives is the Catalyst Initiative;

“If one in three microbusinesses in the United States hired an additional employee, the US would be at full employment. If this possibility is to become a reality, the economy must continue to show signs of a rebound so that confidence recovers, demand grows, and companies can bounce back. At the same time, there is an urgent need to reduce costs to reach micro-businesses and to invest in the capacity of the non-profits that are uniquely positioned to meet needs of LMI business owners.”

This initiative can also be applied for non-profit organizations. Other initiatives include “green” companies and minority audiences. If you think you can apply for this or any other initiative or for more information on AEO funding feel free to browse the AEO website by clicking here.

As you can see different organizations have taken on the task of helping enhance the professional world. Helping new and/or established entrepreneurs achieve success. Make sure you continue to do research and look for investors. As you can see they are out there looking for devoted, hard-working people with successful ideas. Good Luck!

Resources:

http://ncif.org/
http://www.aeoworks.org/index.php/site/

Business Plan Part 2: No Walk in the Park.

2011-07-30T22:26:00.000-07:00

Continuing with our previous post, creating a business plan is no easy task. For the past month I have been creating one for a potential business I have planned, a specialized corporate event planning company based in Puerto Rico. I can assure everyone that it has not been a walk in the park.

Taking into consideration the expert advice of Dave Lavinsky, I have certainly developed as detailed as possible all the key sections of the business plan. Every section has been personalized and strategically described, this will give any reader and/or investor in great detailed what the company is about, it’s goals, objectives, financials, team, etc.

Simone Brummelhuis, advices us to specifically point out what makes your business successful and how it can benefit an investor or a bank, She suggests that your top sections should be your financials. People who are interested n investing in your idea want to see numbers. Personally, two of the hardest sections while creating the business plan have been the law and financing sections. However, options like outsourcing outside help from a lawyer or an account can be of benefit of those who have difficulties in those areas. Agreeing with Brummelhuis, in my personal opinion the financial section is the most important. Those who are going to invest in your business NEED to understand when they will get their investment back and when they will start making some money.

Having great resources like a good book on business plans, watching a tutorial video and reading about expert advice can be a great way to save money and create a successful business plan. Knowing the areas that you need more help can be a very good factor while creating your business plan.

I do have to point out that research is key while creating this sort of document, but don’t be discouraged having a business plan benefits your business enormously. Remember these tips and the creation of a business plan are a step closer to your SUCCESS.

Resources:

Information

- http://www.growthink.com/team/dave-lavinsky

- http://thenextwomen.com/users/simone-brummelhuis

- http://articles.bplans.com/writing-a-business-plan/what-is-a-business-plan/33

Pictures

- http://www.olsbizdev.com

- http://www.businessplanning.ws/category/financial-analysis

- http://www.whenyourbrookdriesup.com/resources.htm

Become an Entrepreneur; Start with a Business Plan.

2011-07-11T11:52:00.000-07:00

Throughout the start of this Blog we have posted numerous trends, tips and strategies that benefit your business. However, this post will benefit those who want to start their own businesses or lack a business plan. We will discuss what is a business plan, the importance of creating one, the benefits of having one and we will present various expert views on the subject.

Let’s start by explaining what is a business plan. A business plan is any plan that works for a business and/or company explaining what the company is, its goals, overall numbers and future. (Bplans)A business plan is meant to look ahead, allocate resources, focus on points, and prepare for different opportunities and problems.

It is crucial for any business to create a business plan. Nowadays, people continue to disregard owing a business due to a false impression that you only need a business plan to start your own business. A business can help running a business, whether you need a loan or investment or not, any business needs a plan that can optimize growth and development.

According to Dave Lavinsky, founder of Growthink and President of Growthink Publishing, a successful business plan must have the following ten key points:

1. Executive Summary

2. Company Analysis

3. Industry Analysis

4. Analysis of Costumes and Competition

5. Marketing Plan

6. Operations Plan

7. Development Plans

8. Management Team

9. Financial Plan

10. Appendix

He expresses that many forget to explain several points resulting in a poor business plan. (Growthink)Lavinsky is an internationally renowned expert in the fields of business planning, capital raising, and new venture development. Over the past decade, Dave has guest lectured at top universities, developed over 100 business plans, and has written hundreds of articles on entrepreneurship, business planning and capital-raising. (To learn more about Dave Lavinsky click here)

Another expert advice comes from Simone Brummelhuis, former attorney and founder of The NextWomen, the first Women’s Internet Business Magazine and community. She expresses the importance of highlighting your business’ success and detailing the steps you have taken to achieve success in your business plan. (To learn more about Simone Brummelhuis click here)

Pointing out in your business plan what makes your business successful and how it can benefit an investor or a bank can help your business bloom in a blink of an eye. Having key elements like your financial plan, and your analysis of customers and competition can be decision makers when negotiating an investment or a loan. People who look for smart investments want the facts and numbers right away. Sections like the ones listed above makes it easy for those interested to make a decision and have an incentive at the time of the investing.

Taking these suggestions into consideration and researching more do’s and don’ts when creating a business plan can help your business enormously. Remember that creating a business plan benefits everyone; investors, banks, clients, staff and most importantly YOU! When you start creating a business plan you are a step closer to Success!

Resources:

Information:

- http://articles.bplans.com/writing-a-business-plan/what-is-a-business-plan/33

- http://espresso101.com/newsletter/388

- http://www.growthink.com/team/dave-lavinsky

- http://thenextwomen.com/users/simone-brummelhuis

Pictures

- http://www.betadaily.com/2010/02/07/professional-business-plan-writer/

- http://www.rpxgroup.com/commercialization/business_planning.asp

- http://www.businesstouch.info/importance-business-planning/

Game On! Integrating Social Media in your campaign using Contests.

2011-06-16T21:07:00.000-07:00

We have discussed in previous posts the importance of incorporating all the different social media platforms available in order to attract more people to your events, conventions, trade-shows and even your company profile. (For more information on the importance of integrating social media to your campaign click here) However, there are even more ways that social media can help you bring more traffic to your website, blog or page. Featuring contests, competitions and/or coupons can help bring more traffic to your page, resulting maybe in more sales, more downloads or more clientele.

A recent example of this new technique is the American sporting goods store, Callaway. Famous for their golf equipment and goods, Callaway has become one of the biggest brands in the sports industry. With artist endorsements and sponsorships, Callaway has been able to appeal to a younger audience and attract people to their brand.

Like many of today’s companies, Callaway can be found in numerous social media platforms like Twitter and Facebook. [Want to follow them on Facebook? Like them here] Recently, they have created a father’s day contest; Tee off with Diablo Octone and Justin Timberlake, where the lucky winner wins a set of Callaway clubs, meet Justin Timberlake and play golf with him. For more information on the contest you can visit Callaway’s official website http://www.callawaygolf.com/Global/en-US.html or click here.

In order to enter the contest you must like their page first in Facebook. This guarantees a member in their Facebook page, giving the company access to your profile, likes and dislikes, and most importantly your information where more contests, equipment, and news can be distribute in mass quantities.

As you can see very well known brands are incorporating contests and/or competitions to their marketing campaigns. The mix of utilizing social media and attractive techniques like the contests can benefit you in many ways; bringing you more traffic to your site, more followers, and customer data. All of these points can be used as evidence of a successful marketing campaign.

Incorporating these types of techniques in the event planning industry can be easy and very entertaining to your clients or customers. For example, if you are participating in a trade-show doing a contest or a giveaway can bring more people to your booth. The contest can require people giving you their information, which you can later use as data for emails or newsletters.

Remember to be creative and unique this is the only way your company, business or corporation can be successful. Using everything the Internet has to offer can benefit you no matter in what industry you are, make sure you integrate social media to your marketing plan in order to achieve your marketing goals.

Resources:
Information
-http://www.slideshare.net/socialmediaanswers/integrating-social-media-into-your-marketing-campaign
-http://www.callawaygolf.com/Global/en-US.html
-https://www.facebook.com/Callaway?ref=ts&sk=app_111452482273231
Pictures
-http://www.tributemedia.com/blog/kelsey-bates/nows-time-be-unique
-http://www.penn-olson.com/2010/01/27/top-10-social-media-countries/
-http://hookgolfswing.com/golf-gear-and-reviews/top-golf-club-makers.html

Help Us, Help You!

2011-06-15T20:29:00.000-07:00

Marketing?...Go Digital!

2011-06-02T13:00:00.000-07:00

We have established in previous posts the importance of incorporating new technologies and social media in events, conventions, meetings, etc. However, social media is just one channels of digital marketing. Marketing has evolved tremendously over the past few years. Now incorporating RSS feeds, podcasts, search engine optimization (SEO), pay per click ads, and SMS and MMS messages will enhance the way you market your event, product or service. Although marketing and promoting events depend on the theme, concept and target market of the event itself, event planners can benefit from digital marketing since one of it's benefits include getting immediate feedback from the consumer.

Taking advantage of all the services the Internet offers can help you increase and improve how you market your convention, meeting, trade-show, conference and/or seminar. Google search engine provides several tools that can help you create a more efficient digital marketing plan. One of these tools is called a Google Analytics. This is a free and easy way to keep track of your website traffic and marketing effectiveness.

"Powerful, flexible and easy-to-use features now let you see and analyze your traffic data in an entirely new way. With Google Analytics, you're more prepared to write better-targeted ads, strengthen your marketing initiatives and create higher converting websites."

This is a great tool to have. For more information on the product and how to use it see the video click here.

Another tool event planners can use to enhance their event's marketing plan incorporating digital marketing is Google Webmaster. This is also a free and easy tool that helps you get data about crawling, indexing and web traffic. In addition, it sends you notifications every time there is a problem with your site. With Google Webmaster you can find out how Google views your site and how it is ranking it. You can also analyze data and see how many people found your site in search results, and how many people actually clicked on it. In addition, it tracks from all over the Web and shows you who added a link to your site. It also creates sitemaps in order to see how many pages have been added to your index. For more information on this great tool see this video.

As you can see search engines like Google are offering numerous services, for free, that help website owners learn more about what their visitor's trends and habits. This way website owners can personalized and enhanced their marketing techniques with actual and exact information. These are only a few tools you can utilize in order to obtain the best results when using and applying digital marketing. For more details on What is Digital Market? this is a good blog article, which explains and defines what it is exactly.

5 Key Components Of A Small Business Acquisition Loan

2011-05-27T23:22:00.000-07:00

Major Challenges To Securing A Business Acquisition Loan

Qualifying for a small business acquisition loan can be quite an ordeal to say the least.

If the business being sold is very profitable, the selling price will likely reflect a significant amount of goodwill which can be very difficult to finance.

If the business being sold is not making money, lenders can be difficult to find even if the underlying assets being acquired are worth substantially more than the purchase price.

Business acquisition loans, or change of control financing situations, can be extremely varied from case to case.

That being said, here are the major challenges you'll typically have to overcome to secure a small business acquisition loan.

>>> Financing Goodwill

The definition of goodwill is the sale price minus the resale or liquidation value of business assets after any debts owing on the assets are paid off. It represents the future profit the business is expected to generate beyond the current value of the assets.

Most lenders have no interest in financing goodwill.

This effectively increases the amount of the down payment required to complete the sale and/or the acquisition of some financing from the vendor in the form of a vendor loan.

Vendor support and Vendor loans are a very common elements in the sale of a small business.

If they are not initially present in the conditions of sale, you may want to ask the vendor if they would consider providing support and financing.

There are some excellent reasons why asking the question could be well worth your time.

In order to receive the maximum possible sale price, which likely involves some amount of goodwill, the vendor will agree to finance part of the sale by allowing the buyer to pay a portion of the sale price over a defined period of time within a structured payment schedule.

The vendor may also offer transition assistance for a period of time to make sure the transition period is seamless.

The combination of support and financing by the vendor creates a positive vested interest whereby it is in the vendor's best interest to help the buyer successfully transition all aspects of ownership and operations.

Failure to do so could result in the vendor not getting all the proceeds of sale in the future in the event the business were to suffer or fail under new ownership.

This is usually a very appealing aspect to potential lenders as the risk of loss due to transition is greatly reduced.

This speaks directly to the next financing challenge.

>>> Business Transition Risk

Will the new owner be able to run the business as well as the previous owner? Will the customers still do business with the new owner? Did the previous owner possess a specific skill set that will be difficult to replicate or replace? Will the key employees remain with the company after the sale?

A lender must be confident that the business can successfully continue at no worse than the current level of performance. There usually needs to be a buffer built into the financial projections for changeover lags that can occur.

At the same time, many buyers will purchase a business because they believe there is substantial growth available which they think they can take advantage of.

The key is convincing the lender of the growth potential and your ability to achieve superior results.

>>> Asset Sale Versus Share Sale

For tax purposes, many sellers want to sell the shares of their business.

However, by doing so, any outstanding and potential future liability related to the going concern business will fall at the feet of the buyer unless othewise indicated in the purchase and sale agreement.

Because potential business liability is a difficult thing to evaluate, there can be a higher perceived risk when considering a small business acquisition loan application related to a share purchase.

>>> Market Risk

Is the business in a growing, mature, or declining market segment? How does the business fit into the competitive dynamics of the market and will a change in control strengthen or weaken its competitive position?

A lender needs to be confident that the business can be successful for at least the period the business acquisition loan will be outstanding.

This is important for two reasons. First, a sustained cash flow will obviously allow a smoother process of repayment. Second, a strong going concern business has a higher probability of resale.

If an unforeseen event causes the owner to no longer be able to carry on the business, the lender will have confidence that the business can still generate enough profit from resale to retire the outstanding debt.

Localized markets are much easier for a lender or investor to assess than a business selling to a broader geographic reach. Area based lenders may also have some working knowledge of the particular business and how prominent it is in the local market.

>>> Personal Net Worth

Most business acquisition loans require the buyer to be able to invest at least a third of the total purchase price in cash with a remaining tangible net worth at least equal to the remaining value of the loan.

Statistics show that over leveraged companies are more prone to suffer financial duress and default on their business acquisition loan commitments.

The larger the amount of the business acquisition loan required, the more likely the probability of default.

Get with the Program...

2011-05-25T17:30:00.000-07:00

Social media and technology have rapidly and surely emerged in our everyday lives. Not only people write everything they feel, do, or want, but also society has created a large reliance in technology and social media networks such as Facebook, Twitter, Blogs, Apps, etc. Events, meetings, conventions, seminars and trade shows must get with the program and incorporate the new emerging technologies and new trends to attract the attention of the attendees and of potential clients.

Get the code!

Let’s start with a new trend, the QR Code. It is a specific matrix barcode readable by a QR barcode readers and camera phones. QR codes are being found in several advertisements in different medias like print ads, and digitally. This will be a great innovative way to market and promote your meeting or convention. How does it work? Add a personalize QR code on your conference collateral. This way any attendee with a smartphone with a QR reader app can scan the code and be directed to any link that you desire. The link can be to a meeting’s website, a company website or a Facebook page, etc. This can also make your business cards a competitive edge. You can generate your own QR Code at http://qrcode.kaywa.com/ where you can make your QR code and link it to a URL, SMS, and/or other options.

Tweet Tweet!

Twitter is one of the biggest social media website used worldwide. For those who are not with the program, Twitter is a social networking and micro blogging service utilizing instant messaging, SMS or a web interface. Event planners can integrate Twitter by using hashtags- a word that begins with a # symbol that will bing all the conference or event -related tweets together. (Example: #2011Convention) If everyone has the hashtag Twitter will automatically compile all of them together. The best part is that you don’t have to register a hashtag, just inform your client and/or attendees of the hashtag, and done.

Apps:

Another good idea for conference and trade-show attendees is utilizing eMobile. This tip is compliment of the Daily Hot Ideas from the Meeting and Conventions Magazine. “With eMobile (powered by CrowdCompass), attendees can download the latest conference schedule and attendee information and refer to it even when Internet connectivity is spotty. The app, usable on Android, BlackBerry and Apple devices, costs $995, plus $1 per attendee, for planners using eReg, the registration software provided by eTouches. For planners using different registration software, check out EventMobi and other tools by CrowdCompass. (800) 516-4265; etouches.com”

Social media has become a part of how we do business, marketing, advertise and live. The event planning industry is not the exception. Take these tips into consideration and I am sure your event will be even better. Be social!

If you still don’t believe or know how social media influences, here is video that can maybe change your mind.

References:

Information

- http://www.meetings-conventions.com/dailyhotideas/dailyhotideas.aspx?startid=25

Pictures

- http://qrcode.kaywa.com/

- http://technorati.com/blogging/article/wanted-social-media-gurus/

- http://www.dumblittleblogger.com/2011/05/13/will-twitter-ever-make-a-profit/

- http://venturebeat.com/2009/03/06/want-all-25000-iphone-apps-that-will-be-7244269/

Video

- http://www.youtube.com/watch?v=lFZ0z5Fm-Ng

Create Buzz for your Event...

2011-05-24T16:45:00.000-07:00

Event Planning takes a great amount of details, dedication and work. At times, making a successful one-of-a-kind event can take an extravagant amount of time and what if no one actually gets to know about it? Having numerous clients, event planners often create events that require media attention or a general public attendance. There are several steps and measures event planners can use in order to get the media attention or buzz necessary for your event.

Research is everything! The first step is to determine what makes your event unique. Are there going to be celebrities? Is it for charity? Any local hero present? Knowing your target market and what they want to hear gives your event a competitive edge. It will also grab the attention of not only the audience but it will attract the media. In addition to this, you must know what dates are the best to hold your event. If it is a corporate event and the theme is the environment, why not do it in April 22nd, Earth Day? This will definitely capture the attention of many who are “green” and it will also go in accordance with the event theme.

Second, depending whether you have a publicist or a public relations person in staff, the event planner or event organizer must have knowledge of most of the local media sources. Be familiar with the names and titles of local newspapers, magazines, and website staff. This way you can make sure that your press release or event information sent via email, regular mail, and/or fax can be received and published by the correct person. Here is when the need to have at least basic knowledge of Public Relations kicks in.

In order for you to be completely prepared to reach out to the media you must have at least a press release, a press kits, and/or an online press room. According to the article, How to Attract Media to your Event, from the Meeting & Conventions Magazine an online pressroom should have the following:

“• Must include all press releases or announcements.
• Provide a list of frequently asked questions about your organization and
event.
• Indicate a contact person (name, phone and e-mail) for all media inquiries.
• Provide additional multimedia assets that the media/bloggers can embed
on their websites, such as info-graphics, videos and/or photos.
• Provide quotes from the organizer, exhibitors, sponsors and past/present
attendees.”

Remember to always invite the media to your event and make sure you have an assigned area or seating section for them, this way they will feel comfortable and “important”. This can secure another coverage plus, it can begin a beneficiary and receptive relationship between you and the media. Make sure you always follow-up with a thank you letter to all of those who covered your event, this way people will remember you and continue to cover your event because they enjoyed working with you. If you have zero knowledge of how to create press releases and other documentation make sure you consult a PR representative or publicist. Keep creating successful & unique events and but now add some buzz!

References:
Information
http://www.meetings-conventions.com/articles/how-to-attract-media-to-your-event/a40774.aspx
Pictures
http://www.willirish.com/2010/08/create-a-business-buzz-with-social-media/
http://empoweredonlineentrepreneurs.com/online-marketing-software/creating-a-buzz-with-synnd%E2%84%A2/
Media Kit Example:
http://nubbytwiglet.com/2007/12/26/successfully-selling-yourself-how-to-build-a-press-kit/

Q&A with the Experts

2011-04-19T11:16:00.000-07:00

In our last post we established the importance of being legally protected and legally “advised” at every moment in any type of industry. However, like we have discussed before legal terms, clauses, and agreements vary according to the industry, service and/or product being provided to the public. Dive In! Events, Conventions, & More… had the opportunity to discuss in a Q&A with attorney at law Maranyeli Medina about the legal system regarding small businesses in the event planning industry.

Our Attorney:

Maranyeli Medina is a law school graduate from the Universidad Interamericana of Puerto Rico. Ever since she was a child she was intrigued by the excitement and drama of the courtroom. As a young adult still in her undergraduates’ program she realized her passion for law and justice, realization that made her decide and pursue law as a career. She expresses her love and passion for what she does with great excitement and how being an attorney allows her explore and experience many different areas and different cases. Her goals as an attorney include achieving maximum excellence in professional performance and that each person who seeks her help can leave feeling comfortable and believing in the justice system.

Dive In: If a legal situation arises involving a corporation v. an individual, knowing that the case’s outcome depends on the legal matters involved, does the corporation have the advantage because they have a better legal team?

Medina: Not necessarily, although having a high purchasing power has a direct correlation with the ability of hiring a good lawyer this is not always the case. However, at times legal teams who represent big companies and/or corporations are so high in demand they dedicate less time to prepare themselves. In addition, in cases of breach of contracts, for example, the justice system provides the necessary means of legal protection for the weaker economical class.

Dive In: Have you ever heard of a legal case involving an event planning company? If so, is it common in court?

Medina: Yes I have. However, I rarely see these types of cases in the courtroom.

Dive In: Knowing that event planning companies rely mostly on their relationships with clients,. How important is having a personalized contract / agreement with every client?

Medina: It is extremely important. A well-written contract is one less claim in case of a trial. Remember that contracts must consist of clear and accurate terms and it is best that at the time of reaching an agreement both parties come to the negotiating table in good faith and clearness.

Dive In: Is it more “legally” convenient to have a generic contract? Yes or No? Why?

Medina: You can have a general agreement and / or contract but it is preferable to personalize contracts based on the specific circumstances of the case or situation.

Dive In: What clauses do you consider that should be “must haves” in contracts for event planners?

Medina: Clauses that provide protection in case of a breach or non-compliance. Also, depending on the case I think it would be good to include an arbitration clause. (An arbitration clause is a commonly used clause in a contract that requires the parties to resolve their disputes through an arbitration process. Although such a clause may or may not specify that arbitration occur within a specific jurisdiction, it always binds the parties to a type of resolution outside of the courts, and is therefore considered a kind of forum selection clause.)

Dive In: Signed agreements, for example releases, help event planning companies have very small liabilities. What else can we do, in order to avoid being sued for liabilities? What other measures do we take?

Medina: I believe that if you have a good, solid, clear agreement or contract without any room for misinterpretation or miscomprehension, you should be fine.

Dive In: What are some legal measures, being a small business, we have to consider that we haven’t mention before?

Medina: In my opinion, I will continue to insist on the importance of a good contract. Dealing mostly with clients and customers, an event planning business must rely on a very solid contract.

Dive In: What do you recommend party planners to do in any legal case?

Medina: My legal suggestion is to always try to reach a mutual agreement or compromise instead of litigation. This way both parties save a lot time and money. If this does not work, turn to litigation as soon as possible.

Dive In: How important it is to trust your lawyer? Safety in numbers... the more lawyers you have, the safer you are? True or False? Why?

Medina: Absolute confidence in your attorney is a must. You must be completely honest with your representation in order to conduct the case in the most effective manner. Regarding safety in numbers, when it comes to attorneys, the client always has the freedom to pursue various legal opinions regarding their situation. However, I don’t believe that because you have more lawyers you have a better hand, this is relative and depends on the situation.

Dive In: In your opinion, what is the biggest legal myth in the legal system?

Medina: To me one of the biggest legal myths is when an adverse outcome is considered to be an equivalency to a failed justice system. Individuals must understand that many factors affect a court’s decision or a case outcome.

Dive In: Taking into consideration that a business may be based in Puerto Rico, does corporation laws differ a lot? Yes or No? Why?

Medina: They are not dramatically different, but when we take into consideration corporate law we have to understand that the legal system has established some general principles to follow. However, we have to understand that the laws of the jurisdiction govern corporations where they are incorporated, which is not always where the “ principles” were established.

As you can see it doesn’t matter what type of business you own, being legally insured and oriented gives you a corporate advantage and security. Ms. Medina also pointed out during the interview that the law system, like everything in life, has room for improvement, for example, getting up to date with technology and taking advantage of the benefits that these advances provide society nowadays. Dive In! Events, Conventions & More.. would like to thank Ms. Medina for taking the time and answering our questions helping us understand the legal world. Event planners make sure you are legally advised and oriented in order to be safe from any legal situations, make sure to always seek legal help and advising in order to avoid any legal problems. Remember, KEEP IT LEGAL!

Reference:

Photo: http://www.thebillablehour.com/timesheet_08_07.php

Keep it Legal!

2011-03-30T19:58:00.000-07:00

Being legally secured and insured is a must for running any business either small, big, private, public, etc. no matter in what type of industry. Nowadays, company owners have to be extra careful with their contracts and insurance. Having the access and knowledge to a vast amount of legal information, people are doing anything and everything to keep themselves out of any legal situation. The event planning industry is no exception; numerous lawsuits and legal situations occur everyday in this area of the entertainment world.

Having the vision to create a corporate specialized event planning company in Puerto Rico, entails a lot of paperwork and most importantly, making sure my insurance is up-to-date and that I am covered from any possible liability. Nevertheless, nothing is certain and things happen.

For example, in 2010 an adult entertainment convention company sued Secaucus’s former mayor, Dennis Elwell and the Meadowlands Expo Center, over being forced to move a 2008 tradeshow from the town to Edison just days before the event. The company sued to regain its $32,500 deposit and an unstipulated amount for their losses for moving the 3-day show to another location. The situation began when Secaucus filed a lawsuit to ban the trade show from the town, citing violations of municipal and state ordinances on alcohol and proximity to a day-care center. The event company representatives say in the lawsuit that everything about the event was approved, and claim that the convention center officials later denied knowing details of the trade show. Situations like these can be avoided with more detailed and more specific contracts.

Other examples include a case where an event planner in Atlanta settled an out-of-court agreement with the Academy of Motion Picture Arts and Sciences over the use of a gold statue, which according to the academy infringed on the copyrighted “Oscar” statuettes. Another example is a lawsuit by MGM’s Grand Hotel in Vegas filed against a New York based event planning company for not paying what they owe for a charity event hosted at the hotel in 2007. Both situations can be avoided taking the necessary legal measures and precautions.

Legal situations can be avoided in most cases. Attorneys recommend party planners to always have a lawyer, “especially one that practices intellectual property law” and when in doubt make sure you discuss and clarify any legal matter with them. So, party planners take notes and make sure you protect yourself and your business. Legal information is accessible, so there are no excuses. Good luck and keep it legal.

Reference:
http://www.nj.com/hudson/index.ssf/2010/09/secaucus_hartz_mountain_sued_o.html
http://specialevents.com/news/planner-threatened-with-lawsuit-over-oscar-style-decor/
http://www.lvrj.com/business/22803794.html
http://www.translucid.ca/site/2010/12/03/when-events-go-wrong-what-do-you-do/
http://www.mindingthecampus.com/originals/2011/02/how_the_law_schools_went_astra.html

Trade-Shows Go Green…

2011-03-23T21:42:00.000-07:00

In today’s society going green is in. Of course the event planning / convention / conference industry is no exception. New ways of creating exhibitions have been developed in order to save money and support the new trend of becoming environmentally conscious.

These green exhibits, also known as sustainable exhibit booths, should minimize the environmental impact. Depending on the size of the trade show or convention, these new modern booths can be made either small or large. However, it all depends on the needs of the organization that will be purchasing and utilizing the booth. Today, many are focusing on making sure that their exhibits and booths are sustainable and ultimately result in a lower potential waste. Creating an environmentally-friendly atmosphere and look. The key of creating a sustainable exhibit relies mainly on the materials used in the production process. Incorporating elements like Swiss wood (a renewable resource and net remover of carbon dioxide from the atmosphere), low energy lighting, using recycled paper as materials, and organic foods and beverages. Practicality is the main focus of this new trend.

Places like Switzerland have already incorporated this new environmentally friendly trend in numerous conventions and trade shows. In 2010, the Switzerland Convention and Incentive Bureau (SCIB) received the IMEX 2010 Green Exhibitor Award due to their sustainable exhibits. In addition, companies like Evo Exhibits and Skyline Exhibits, create top-of-the line eco friendly trade show displays, exhibits, and booths. Skyline Exhibits, located in Minnesota, USA, have created a 2-facet method of creating sustainable exhibits.

“Skyline contributes to environmental sustainability in two ways: By providing lighter weight, modular exhibits that have smaller environmental impact than traditional custom exhibits, and by minimizing the impact on the environment from our manufacturing operations.

These two facets -- lightweight modular exhibits, and more environmentally friendly manufacturing, can be viewed through the lens of Reduce, Reuse, Recycle.”

As you can see new trends and new ideas are being incorporated in the event planning industry. Helping the environment concerns us all, and what better way than helping with little details like this. This is not only a great way to be environmentally conscious but it is a great way to develop a positive corporate image and PR, sending the message that you do care. Event planners and organizers should be applying new trends like this for their green conscious clients. I am sure ideas like this will make them very happy and pleased. Remember, keeping an open conscious about the world and trying to become more conservative is the way to save money.

On the following video you can see how a sustainable exhibit can look like and what materials are used. Video by Evo Exhibits, another green display production company.

References:

Information:

http://www.skyline.com/green-exhibiting/skylines-contribution

http://eventplanning.about.com/od/productionentertainment/ss/sustainable-trade-show-booths-minimize-environmental-impact.htm

http://athensmidday.scrippsjschool.org/index.php?option=com_content&view=article&id=226:going-green-is-athens-new-thing&catid=10:reporter-blogs&Itemid=4

http://www.evoexhibits.com/

Pictures:

http://www.advatumdisplays.com/

http://www.flickr.com/photos/abidoan/4125130333/

http://www.homorazzi.com/article/on-your-way-to-becoming-an-eco-gay/

http://www.degreeofhonor.com/pages/Greent.html

Video:

Courtesy of Youtube - http://www.youtube.com/watch?v=SnwL--fGHeY

Meet the El Conquistador Resort

2011-03-02T22:02:00.000-08:00

One of the greatest privileges humans have is the liberty of constantly choosing different options in any given situation. Whether if its choosing right from wrong, black or white, right or left, good or bad, chocolate or vanilla, etc. Using the corporate world as an example, thinking outside the box and doing things differently can sometimes help establish new ideas, determine new points, and ultimately reach goals and objectives faster, more efficiently, in a fun, unique and entertaining way. This is why corporations and/or companies should explore new venues and destinations for their corporate gatherings. Feel free to explore all the choices and different opportunities the beautiful island of Puerto Rico has to offer for your corporate events, conferences and/or conventions. I guarantee your event will be a total success.

Fajardo, Puerto Rico

Say hello to the El Conquistador Resort, a Waldorf Astoria Hotel Resort. Perched high above the ocean on 300-foot cliff, El Conquistador is one of the most luxurious resorts in the Caribbean, located in Fajardo,Puerto Rico.

Resort Accommodations

It is divided into five villages, with breathtaking, panoramic ocean views at The Grand Hotel including the villages of Las Brisas and La Vista. The resort is located on the northeastern tip of the island, near El Yunque Rain Forest. It is 4 miles away from stores and attraction of downtown Fajardo and Las Croabas. It counts with an on-site-world-class golf, spa, casino, water park, wind surfing, scuba diving, fishing and more. It even has its own private island, Palomino Island, just a 8 minutes boat ride (provided by hotel for guests) where guest can relax and enjoy the sun, beach, restaurants, water sports and more. El Conquistador Resort is located 31 miles from San Juan (the Island’s capital) and the Luis Muñoz Marín International Airport (SJU).


Atlantic Conference Center

Grand Atlantic Ballroom - 21,090 sq ft

In addition, El Conquistador Resort has all the commodities and accommodations that your company may need to conduct your next event, trade show or convention in the brand new state-of-the-art Atlantic Conference Center. You can host a function in the Grand Atlantic Ballroom, the largest ballroom in Puerto Rico with a space of 21,090 sq ft; or on the smaller Grand Caribbean Ballroom with 19,982 sq ft space. Your company has the opportunity to hold a board meeting in one of the 16 breakout rooms or meet in one of the 100,000 sq ft of indoor /outdoor meeting space.The resort also offers professional event planning staff and catering services for any event, luncheon, or dinner, etc. El Conquistador also offers numerous business amenities and services, which include, audio-visual equipment rental, printers, fax, Wi-Fi, and more.

This is ultimately one of the top 5 resorts in the Caribbean, with top-of-the class facilities and services. Remember U.S citizens: you don’t need your passport to travel to Puerto Rico, we are a U.S territory. (For more information on Puerto Rico's culture, climate, location and more Click Here) This is a great option for your company or corporation's events to be unique, fun and entertaining. For more information on the resort visit their website or click here. I urge you to consider this great venue and destination; I guarantee you won’t regret it. “ Life is anything, but square. So, why think inside a box? – Unknown

Enjoy the following clip with a more inside look of this great resort.

El Conquistador Resort Official Website

Sources:

El Conquistador Resort Official Website - http://www.elconresort.com/index.cfm

Video:

El Conquistador Resort - Puerto Rico - Waldorf Astoria Collection

http://www.youtube.com/watch?v=co1LLQ99KwE

Pictures:

http://www.uigolf.com/custom_logos/?1=e

http://jordanpicture.blogspot.com/2010/12/el-conquistador-resort-in-fajardo.html

http://www.privateislandsblog.com/2009/11/16/family-friendly-private-island-resort/el-conquistador/

http://blisstree.com/feel/wedding-venues-puerto-ricoel-conquistador/

http://averylanedesign.com/blog/

http://www.skulpt.com/3d-animator-career-options.htm

A Client's Point of View in Negotiations: Event & Convention Planners Take Notes!

2011-02-20T16:45:00.000-08:00

What event & convention planners should know about their clients to have successful negotiations...

For the event and convention planning industry negotiating is everyday’s cup of coffee. Negotiating prices, dates, themes, entertainment, client contracts and more is done on a daily basis. This is why having knowledge on deal making tactics and methods are vital in this type of industry. Although it is imperative for event planners to understand and know how to execute a successful negotiation, do they know what their clients are thinking? What are their key strategies when it comes to negotiating? In this interview with Mr. Angel L. Rodríguez we will explore what customers do, avoid and look during the negotiating process when dealing with event, conventions, and/or trade-show planners. Remember, knowing the other persons needs, interest and wants are results in as a great advantage for the other negotiator. Therefore event planners take notes!

We had the opportunity of talking with Mr. Angel L. Rodríguez, Vice-President of Roger Electric Co. in Puerto Rico. He is also head of the convention and activities committee of the Professional Engineer Association in Puerto Rico (CIAPR). Mr. Rodríguez often uses event planner services for both his business and the association activities. During this interview we asked Mr. Rodríguez about his approach when it comes to negotiating with his event planner, his expectations, tactics and results.

When it comes down to choosing and closing a deal with an event planner, how do you approach your event planner when dealing with prices, fees, and contracts?

I tend to use an aggressive approach. Doing previous research on prices and fees makes me have an advantage on how much I ask and on how much I can settle for. Sometimes insinuating that we have other options makes prices, fees and contract clauses come into more agreeable terms.

What do you expect from your event planner, when it comes down to agreeing on a deal? Mutual gain? More benefits for you? Or more benefits for the event planner?

Every time I negotiate I prefer ending with a win-win situation, this way you can be satisfied with your deal and the dealer will be pleased with the final outcome. This also guarantees future business opportunities for other activities for both parties. Mutual gain is my best bet.

Do you have a back up plan or BATNA, at the time of the negotiation? How do you approach the planner with this information? Do you use the BATNA as leverage in order to get what you want?

When it comes to negotiating, either with a party planner or with anybody business wise, you always have to have a back up plan. Now, the key is trying to obtain what you want without being too obvious. I tend to notify before hand that I have certain options, but I will be more than welcome on listening to what they have to offer me. This was the person feels that his or her offer is being considered and that they have a chance of making a deal. This often results with pleasing numbers and a successful deal.

What do you prefer, having a good “friend like” relationship when it comes to negotiating or do you prefer establishing roles and status from the get go?

This is very complex because it depends on the situation. I think the best way to approach a negotiation is establishing the points and terms from the beginning. This is when separating the person from the problem comes into play. I believe that keeping a professional and trustworthy relationship is the best way to do negotiations.

Has someone used any dirty tricks or tactics in order to close a deal? Have you used any? What was the outcome of the negotiation?

I don’t believe in dirty anything. Using dirty tricks or tactics is very unsuccessful. Maybe you can trick someone once but it wont work again, this is when negotiations go wrong. Being as straightforward and honest as possible is the best way to end up with what you want.

If you had to summarize your negotiating techniques, what is the most important one and most successful in your opinion?

Like I said before every negotiation is different and the approach varies. I usually tend to wait for the other person to make the first move, this allows me to know if they are benefiting from the situation and allows me to re-negotiate something better. I usually prefer doing the early process of my negotiations through email but at the moment of closing the deal I prefer a personal encounter. I do believe enormously in the value of a handshake. This can go either wrong or extremely well, but I do think that this old fashion trend keeps things classy and professional, it all depends on the relationship and trust both parties have acquired. Being prepared for every negotiation also gives you an advantage. I strongly recommend reading “The Art of Negotiation”, by Gerard Nierenberg. This book has really helped me with my negotiation tactics not only with entertainment activities but with my business as well.

I have to agree with Mr. Rodriguez, tactics, techniques, and approaches vary depending on the situation and the negotiation. However, doing research, knowing the other persons’ needs and wants definitely makes you feel more confident at the time of the negotiation. Being prepared is the key of a great negotiation. Hopefully, now with this blog event and/or convention planners can have a better view of how their clients operate, what they look for, and how they approach negotiations. Good luck and happy negotiating! Special thanks to Mr. Rodriguez for taking the time and answering our questions.

Resources:

Roger Electric Co. - http://www.rogerelectric.com/

CIAPR - http://www.ciapr.org/

The Art of Negotiation - http://www.amazon.com/Art-Negotiating-Gerard-Nierenberg/dp/156619816X

The Ultimate Internet Marketing Tool!

2011-02-05T06:41:00.000-08:00

Attention All Traffic Hungry Internet Marketers: How To Quickly & Easily Generate Huge Amounts of Backlinks With Simple Push-Button Software That Will Help Your Websites Reach Page 1 On Google, Yahoo and MSN, On Complete Autopilot!

Get this tool.

INTERNET MARKETING ROBOT

Click Here!

See The New Websites getting indexed in minutes. Click here to watch this video.

Top 5 Convention Centers in the U.S

2011-01-19T21:53:00.000-08:00

Although, I am encouraging everyone to consider the beautiful island of Puerto Rico as one of your choices for hosting your event and/or convention, here is a Top 5 list of the best convention centers in the United States.

Number 5: Hawaii Convention Center in Honolulu (250,000 sq. ft of exhibit space)

The design of the glass-front center represents the unique culture of Hawaii, with its bold architecture, $2 million Hawaiian art collection, and features such as a rooftop tropical garden, glass-encased meeting rooms and outdoor function spaces lined with giant palm trees, make this convention center a very pleasant one. You can find 10,000 committable hotel rooms within 1 mile of the center. The Honolulu International Airport is conveniently located 9 miles West of Waikiki Beach, 4 miles West of Central Honolulu and 7.5 miles West of the Hawaii Convention Center. Hawaii’s currency is U.S. dollars and main language is English. In addition, Honolulu (capital of Hawaii) has been ranked one of the safest in the nation.

(For more information on the Hawaii Convention Center click here)

Number 4: Georgia World Congress Center (1,500,000 sq. ft of exhibit space)

Located in the heart of downtown Atlanta, the Georgia World Congress Center Authority, which includes the 3.9 million square foot convention center, the 71,250-seat Georgia Dome and 21-acre Centennial Olympic Park. This convention center ranks among the top five largest convention destinations in the country as well as one of the best sports and entertainment campuses in the world. The Georgia World Congress Center opened its doors in 1976 as one of the nation's premier convention facilities with 350,000-square-feet of exhibit space. Over the years, the Georgia World Congress Center underwent numerous expansions to meet the needs of growing conventions and special events.

(For more information on the Georgia World Congress Center click here)

Number 3: Minneapolis Convention Center (600,000 sq. ft of exhibit space)

The Minneapolis Convention Center (MCC) has nearly 480,000 square feet of trade show space, 87 column-free conference meeting rooms, a 28,000-square-foot ballroom, and an auditorium with great production and flexible technology options, the facility can handle any event from a small meeting to a large convention or trade shows. It is located close to freeways and only 20 minutes from the airport on the southern edge of downtown Minneapolis. In addition, this trade show and event center is connected by climate-controlled skyways to the downtown hotels, restaurants and shopping. One of the great things of this convention center is that recently they have acquired new solar panels. The panels are fully installed, and the system is fully running as of mid-November 2010. This is a great option destination for the new “green” conventions and/or trade shows.(For more information on the Minneapolis Convention Center click here)

Number 2: Las Vegas Convention Center (1,040,000 sq. ft of exhibit space) The Las Vegas Convention Center is a 3.2 million square foot facility located within a short distance of more than 100,000 guest rooms. Operated by the Las Vegas Convention and Visitors Authority (LVCVA), the center is well known among industry professionals for its versatility. It also counts with 144 meeting rooms, handles seating capacities ranging from 20 to 2,500. A grand lobby and registration area link existing exhibit halls with new exhibit and meeting rooms, and allowing simultaneous set-up, breakdown and exhibiting of multiple events. The LVCC is one of the largest convention centers in the world. Having the availability and the capacity for thousands of people, the Las Vegas Convention Center is one of the top choices for bigger companies and for the world’s largest trade show companies.(For more information on the Las Vegas Convention Center click here)

Number 1: Orange County Convention Center (2,000,000 sq. ft of exhibit space)The Orange County Convention Center is one of the nation's ten largest convention centers having an amazing 2,000,000 square feet of exhibit space. In its entirety, the Orange County Convention Center features:

Two 92,000-square-foot general assembly areas 
74 meeting rooms/235 breakouts 
The 2,643-seat Chapin Theater 
A 200-seat Lecture Hall 
The 62,000-square-foot (multi-purpose Valencia Room
Three full-service restaurants/8 food courts 
Three-business centers
In-house electric, plumbing, rigging and technical services, plus wireless mobility throughout the complex
On-site parking for 6,227
Three covered loading docks/173 truck bays

The OCCC is located 11 miles southwest of downtown Orlando in the middle of Orange County's tourism core. The Orange County Convention Center is within walking distance of more than 6,000 hotel rooms, and within 45 minutes driving distance to more than 86,000 hotel rooms in the Orlando area. In average, the OCCC hosts approximately one million delegates annually and provides a $1.9 billion dollar total economic impact annually to the Central Florida economy, all at no cost to Orange County Citizens.(For more information on The Orange County Convention Center click here)

It is certain that all the convention centers listed above have all the qualities and attributes that your company, business or industry needs to host an excellent and top-of-the class event, convention and/or trade show. They all have an impressive amount of exhibit space and top of the line technology. It all depends on your market and the objectives and goals of your event.

*Remember to consider Puerto Rico as one of your destinations for hosting these type of events. For more information on venue opportunities and entertainment in Puerto Rico feel free to browse through the blog.

Resources:

-Hotel & Conventions http://www.hotelsconventioncenter.com/

-Hawaii Convention Center http://www.hawaiiconvention.com/

-Georgia World Congress Center http://www.gwcc.com/Default.aspx

-Minneapolis Convention Center http://www.minneapolisconventioncenter.com/

-Las Vegas Convention Center http://www.lvcva.com/index.jsp

-Orange County Convention Center http://www.occc.net/default.asp

Event Planning? How to Benefit your Pocket!

2011-01-10T08:02:00.000-08:00

The special events industry has grown enormously during the last two decades. The annual spending of events worldwide is estimated to be at $500 billion. It is no secret that the economic status worldwide of businesses and companies is not at its peak. Therefore, the need to keep employees and clients interested and motivated is crucial in a time like this. In addition, companies have recognized that only so much work can be conducted thru the phone, texts, and emails. This is when the ideas to create special events, seminars, meetings and/or conventions are taken into consideration.

Now that we have established the need and importance of the production of corporate events, let's establish how an event planning company makes its revenue. According to the web article, How to Start an Event Planning Service, at entrepreneur.com, it is crucial to know that the goal in pricing a service is to mark up your labor and material costs sufficiently to cover overhead expenses and generate an acceptable profit. It is said that first time business owners often fail due to unknowingly low service rates, therefore make sure you are gaining profits from your services.

There are two types of events; social and corporate, for our interest we will focus on corporate events. On the corporate events industry planners typically charge a fee for their services, plus a handling charge for each item they contract. Another option is charging clients a "flat fee" or a "project fee", this is often used in large events and/or when corporations want an estimated figure to stay on budget.

Fees are generally determined by three factors.
1.              Market Segment (Corporations- using flat fees)
2.              Geographic Location (For example, fees are higher in the northeast part of the United States)
3.              Experience and Reputation of the planning company (If you are starting out it is only reasonable to charge a lower service fee)

This is why knowing your target market and doing your market research is so important. Most event planning companies’ price their fees-for-service using the Cost Plus Method (CPM), it involves calculating the unit cost of producing the product and adding on a target profit margin. This means, that you contract out the labor, supplies and materials involved in producing an event and then charge clients a service fee of about 10 to 20 percent of the total cost of the event, with 15 percent being a rough average. However, in order for your company to know the final net income, I advise you to produce a pro forma (for more information on Pro forma click here) this will determine how your company will make its revenue, determine expenses and much more.

Below is an info graphic of the event planning industry you might like. Enjoy.

By: Melanie Rodriguez / Market Research

Resources:
- http://www.entrepreneur.com/article/37892-5
-http://www.laurieco.com/html/cost_plus.html
-http://www.businesstown.com/accounting/projections-statements.asp

Out of ideas? Dive into Corporate Theater...

2011-01-09T21:56:00.000-08:00

Corporate events and/or conventions sometimes lack innovation and creativity. It's up to event planners or convention organizers to continuously design and come up with new ideas for these types of events. After doing some research, new methods are being used by numerous companies to appeal to their employees and/or clients. Among these new methods we can find theme conventions and business or corporate theater.

Many event and convention production companies are using business theater as a new innovative way to spice up corporate seminars, events, and/or conventions. Business or corporate theater are productions written and produced specifically to support and illustrate the theme and goals of your particular event. Agencies who actually produce this type of shows make sure they have very accurate information about the company, the employees and typical work situations. This way the shows have very realistic facts and characters, creating a very direct message. The advantage of this type of theater is that corporations have the opportunity to deliver desired messages using comedy, music or drama to their desired audience in a unique way.

Agencies like the Killing Kompany have been consulting corporations for over 15 years.
"The Killing Kompany creates custom designed interactive training and awareness programs of any length and design for corporations and other organizations. By combining live performance by professional stage, TV and film actors with interactive audience participation, we can help make your company seminars on specific corporate problems and their solutions more provocative, unique and entertaining - and, of course, more effective.

Whether your company's goal is education, staff motivation, training, problem-solving or individual growth, we offer the most effective tool to replicate, and vividly illustrate the solutions to, the real and problematic situations your employees and managers confront in their day to day settings"
Using ideas like corporate theater can make your event or convention a one of a kind. People continuously need to be entertained and what better way to motivate, educate or problem solve with something not ordinary and fun. So next time you need to do something different, appealing and creative think out of the box. Keep looking for new ways to keep your employees and/or costumers interested with innovation and creativity. This is a great way for corporate activities to have a large number of assistance and support they deserve. So, next time you are organizing a corporate event think beyond the norm. Ideas like this will make your company stand out.
 For more information on Business Theater and companies like the Killing Kompany click here.
Resources:

Killing Kompany- http://www.killingkompany.com/kk01008.html
Owen Show Productions - http://www.owen.bc.ca/osp/corporate%20theatre/index.html

Meet Puerto Rico! Puerto Rico Convention Bureau

2010-12-16T20:10:00.000-08:00

Say hello to the Puerto Rico Convention Bureau (PRCB), somewhat similar to PR Dive In 101, the bureau's website shows the opportunities the caribbean island of Puerto Rico offers for local and international corporations interested in having and hosting their events and/or conventions on the island.

Once you enter their interactive website, you are mesmerized with the colorful pictures and all the options you can choose from. First, you have the "Planners" option, here you can start to plan, manage, or promote your event in Puerto Rico. Then you have the "Members" option, where you can grow your network or grow your business by joining the PRCB. Next, is the "Media" option, where you can informed on the latest news from the premier meetings and convention destinations in the Americas. And lastly, you have the "Puerto Rico" and "Convention Center" options. Here you can explore and learn all about the destination and acquire all the necessary information of the largest most technologically advanced convention center in the caribbean.

Joining forces with the PRCB would have a great outcome for both the bureau and PR Dive In 101. This partnership will encourage both local and international corporations to consider Puerto Rico as one of their firsts options when looking for a venue. This is a great way to increase the island's tourism numbers, in addition to helping with the economic revenue in the island.

Showcasing all the opportunities and all the options corporations have in order to create their corporate events and/or conventions, is only a small part of what the bureau really does. On their website costumers can plan and manage their events. Definitely, we want to create the same vibe and recognition as PRCB. This is why doing a partnership or membership with them will help get our brand and name out there, in our desired industry.

It is nice to know that others have the same interest in showcasing what our native land has to offer. Remember to consider Puerto Rico as a venue for your next corporate event or convention.

For more information visit their website. Puerto Rico Convention Bureau

Official PRCB website

References:
http://www.meetpuertorico.com/

Crazy Money Making Ideas

2010-12-04T23:10:00.000-08:00

Sometimes new money making ideas are immediately usable. However, sometimes you just have to let your imagination run wild and be impractical. This is a way to get that creativity going, and no matter how crazy the ideas may seem at first, there is usually a way to bring them down to earth, as in this first example.

Rental Cabins In The Air

I started with a crazy thought: "What if people could rent a cabin up in the sky for the weekend?" Right away my mind tries to make sense of the idea, and because the over-all goal is to have profitable innovations, it looks for ways to make it into a money making idea. I first imagined cabins which are suspended under large hot-air or helium balloons.

As much fun as it might be, this didn't seem very practical. When I explored the idea further, though, I wondered if existing balloon-ride businesses could tap into other markets. If, for example, the gondolas were outfitted properly, and the balloons tethered, so they could be allowed to float two thousand feet overhead, would meditators then pay for a peaceful meditation retreat in the sky?

Another thought came to mind. Balloons could be high in the air, but easily cranked back in on a line. This might be simpler and cheaper than traditional rides, which involve chase vehicles and unpredictable landings. Perhaps this could be another way to make money with the balloons, charging a lower rate for simple up and down rides, and so getting new customers that couldn't afford the usual rides.

This is how a crazy idea comes back to earth. Perhaps even the "weekend cabin in the sky" idea could someday be a money making idea, but if not, that's okay. The point here is to get the creative flow going, and then find more practical ways to channel the output.

More Crazy Money Making Ideas

The following are pure imagination. I leave it to you to find a way to make these ones into potential money making ideas. Good luck and have fun!

- Put seats on the wings of an airplane and sell rides to thrill seekers.

- Sell advertising scratched out on the face of the moon.

- Rent out the animals at the zoo.

- Start an underwater school.

- Make a roller coaster course people pay to take their personal cars on.

- Sell pets genetically engineered to die young, for those who hate long-term commitments.

- Rent out children to undecided prospective parents.

- Have marriage insurance policies that cover the cost of a divorce, just in case.

- Have a swimming pool restaurant; diners sit in floating seats and eat off floating plates.

Scan the list and stop on any of the crazy ideas that catch your attention. Chances are good that you can find some way to transform it into a more practical idea, and that is the point. This exercise in imagination may be fun, but it is also a profitable technique for generating money making ideas.

Start the Movement!

2010-12-03T09:35:00.000-08:00

Difficult…but Not Impossible: Start the movement!

The development of IN Entertainment Co.

To develop a brand, a company, service or product has its obstacles but certainly it’s not impossible. This is the case of IN Entertainment Co. designed to be the first specialized event/convention company in Puerto Rico. This is an innovative idea that has a very promising outcome. Knowing the obstacles and the economic depression the world is facing, anyone would back down on following their dreams or hold back on their plans, but fortunately with a good idea, a good business plan, and a determined group of followers, maybe NOW is the moment. This is what Kimberly Fowler, CEO & founder of Yas Fitness Centers, tell us about overcoming the obstacles when it comes to opening a new business. Her most important step is the first one, taking the "Leap of Faith" in your idea and product. Now, how can you develop your idea into a success? Easy...starting a movement!

Let’s use Derek Sirves talk, How to Start a Movement presented at Ted.com. Here with the help of surprising footage he explains how a movement begins and all the factors that must be taken into consideration in order for it to be successful. With his unusual video presentation and comedic approach he gets his point across in a very entertaining way.

Get to know Derek!

Derek Sirves is the creator of a new project called MuckWork, where he wants “to lessen the burden (and boredom) of creative people”. A professional musician since 1987, he started CD Baby by accident in 1998 when he was selling his own CD on his website, and friends asked if he could sell theirs, too. CD Baby was the largest seller of independent music on the web, with over $100M in sales for over 150,000 musician clients. In 2008, Sivers sold CD Baby to focus on his new ventures to benefit musicians, including his new company, MuckWork, where teams of efficient assistants help musicians do their "uncreative dirty work."

Applying it to your idea:

As we learned with the Derek’s speech, a movement is easy to create. Remember that a leader takes the leap of faith, but without the followers the idea crumbles. This is a great way to approach your idea. Take more time, explore your market and make sure you brand yourself and your product, idea or service in a way people support and follow.

In conclusion, IN Entertainment Co. here we come! Remember every path has its obstacles, how you overcome them is the real key to success.

References:
Video: How to start a movement by: Derek Sirves http://www.ted.com/talks/derek_sivers_how_to_start_a_movement.html
Sources:
http://finance.yahoo.com/video/companynews-18928726/common-obstacles-facing-new-business-owners-23094884
http://samvak.tripod.com/nm01.html
http://www.ted.com/speakers/derek_sivers.html

Business Start-up Costs

2010-12-01T14:08:00.000-08:00

If you are considering starting your own business, then you have no doubt considered the investment required for various business start-up costs. The first thing you need to do is find a market that your business can be successful in. Next you must look at approximately how much it will cost you in just basic business start-up costs; business licenses, lawyer consult fees and form preparation fees, accountant fees/accounting programs, inventory costs, business insurance, leases, and utilities are just a few of the standard traditional business start-up costs. You must also consider how you are going to support yourself and your family while you venture takes off; this could be at least two to three months, and you want to make sure you can pay your mortgage, all your bills, feed your kids, and have a little extra left over for incidentals, in addition to business start-up costs.

If you choose to not have a physical location for your business, you may want to consider offering your goods and services via a website or mail order catalog. This is a great way to reach a large audience all at once, but business start-up costs associated with this mode of doing business can be expensive as well. By the time you pay someone to create your website, host it, register your domain name, and start a merchant account, you have made quite an expenditure, unless of course you are capable of building your own website, which many people are. Yahoo! offers web hosting, domain name registration, business email, and store front options for a very reasonable price worth checking out. This is a great way to save on some of those business start-up costs that could otherwise break the bank.

The traditional way that business has been conducted in this country has changed dramatically since the advent of the World Wide Web, opening the door for a number of new ways to conduct business. You no longer have to have a physical storefront address to sell your goods or services, a rather archaic point of view. More and more people are buying goods and services on the internet, which is a great place to feature your business while keeping your business start up costs at a minimum. You don’t need to lease that 900 square foot shop for $2800 a month to sell what you can sell just as easily with a website and a little marketing campaign. Business start-up costs do not have to be astronomical, in fact, they can be quite the opposite. You can visit a number of online sources that offer an abundance of information on business start-ups costs and links to essential sites that can help you get your business up and running!

Space Heater Business.

2010-11-26T16:47:00.000-08:00

Space heater is a one of most important tools to endure coldness in winter. A space heater is a self contained device for heating an enclosed area. Space heating is generally employed to warm a small room in the house, and is usually held in contrast with central heating, which warms many connected spaces at once. The reason people choose space heater is because the cost of space heater is lower than the central heating. Space heater are usually portable or wall-mounted, and may use natural gas or propane as its energy source, but are most commonly powered by electric.

Space heater can be divided into two categories where one of them is that transfer their heat primarily by convection and another one is transfer the heat by radiation. The convection heaters, heating elements either warm the air directly or heat oil or another filler, which in turn transfers heat to the air. The example of convection heater is Big buddy heater. The air then warms the objects and people in the space. Convective heaters are suitable for providing constant, diffuse heat in well-insulated rooms. Oil heaters warm up slowly but do not reach dangerous surface temperatures while wire-element heaters that fan assisted can be reach desire temperature and can warm up the air more quickly. The example of radiation heater are Dimplex compact electric stove and Dimplex electric fireplace insert.

The Radiative heaters or halogen heaters usually comprise tungsten filaments in heat-resistant quartz envelopes, mounted in front of a metal reflector in a plastic case. They operate much like halogen light-bulbs, but radiate their energy primarily in the infrared spectrum. They convert up to 86% of their input power to radiant energy, losing the remainder to conductive and convective heat. The main advantage of radiative heaters is that the radiation they produce is absorbed directly by clothing and skin, without first heating the air in the space. This makes them suitable for warming people in poorly-insulated rooms, or even outdoors like a hall or garage.

The space heater that powered by electricity usually has ceramic or Nichrome heating elements, and may be fan-forced with a blower or a squirrel-cage fan to improve heat transfer. These often employ efficient heat pumps, which use reverse-cycle air conditioning to transfer heat to the inside from the outside. The other type of energy source is natural gas such as propane, butane, or liquefied petroleum gas. They may be convective or radiative, in the latter case by heating a matrix which then emits infra-red radiation. Gas heaters burn their fuel in air and produce carbon dioxide. In well-insulated rooms the oxygen concentration may drop and carbon monoxide may accumulate to toxic levels due to incomplete combustion. For this reason gas
heaters should be used only in rooms with adequate ventilation. But new technologies such as Big buddy heater and Portable Kerosene Heater have an ability to control the carbon monoxide level in the room.

As conclusion the space heater business should consider the type of space heater and its operating manual. This is important for the seller to suggest the most suitable space heater for their customer and provide the safety guide to operate the space heater. The knowledge from the seller will increase the customer trust and this will turn them into loyal customer. Beside that the basic technical skill about the space heater is really worth to help the customer if they have a problem with their

space heater.

Therefore I suggest 4 most compliance space heater:

Dimplex compact electric stove
Dimplex electric fireplace insert
Big buddy heater
Portable Kerosene Heater

Benchmarking: Avoid comparing yourself to the industry average.

2010-11-25T11:32:00.000-08:00

Most organizations conduct employee surveys of various types either annually, every two years or sporadically. Some organizations use the data from the employee survey to affect real change that contributes to their ongoing success. There are organizations who like to focus on comparing their survey scores to the scores of other organizations and there are the organizations that do little with their survey results. The focus of this article is to discuss the middle group: those organizations that like to focus on and compare their employee survey scores against the average scores of all the organizations that are in a third party database.

Many surveying companies sell their services on the basis that they will be able to compare the scores of the one company against the average score of all of the organizations in their database. Comparing yourself to someone else is enticing. We have been exposed to comparative data from the first day we stepped inside a school. Throughout our primary and secondary education we were compared to the rest and typically this comparison was against the “class average”. We knew who the smartest and the dumbest kids were but it was the average that counted. Was I above or below the class average? That was important in terms of dealing with our own self esteem and dealing with our parents. This was not the case for all students. The parents of some students demanded top marks and that is exactly what those few students worked towards. They had to be the best. They had to have the top marks.

This was all very interesting but in the end it was irrelevant. When it came time to apply to university a new standard had to be reached. University entrance requirements varied but one thing was clear. Average marks were not good enough. In fact being above average in many instances was not good enough. University entrance requirements were demanding and one had to strive for a new and much higher standard than “average”. The profile or status of a university that you were interested in attending, determined the level of academic excellence you had to achieve.

It is puzzling to see how many organizations fall into the trap of placing a great deal of emphasis on comparing their surveys scores to a database that represents the average of a number of companies. These comparisons are sought not only for the overall scores of the employee survey, but for every question in the survey.

It would appear that a fundamental question needs to be asked by every organization-why are we conducting an employee survey in the first place and what are we going to do with the results.

From a strategic perspective it would seem reasonable to think that an organization would wish at the very least, to demonstrate that the survey is helping the organization to achieve their strategic goals. In other words, they are conducting the employee survey as a way of obtaining employee information that can be used to improve for example, workplace practices in order to lift their employees’ working experience. In turn this will lift the customer experience and profits.

However, if this or some other strategic purpose is not being fulfilled by the employee survey than the value of conducting the survey is questionable. One could argue that comparing oneself to other organizations is in fact a legitimate strategic objective. It is worth knowing how you compare to the best. How does your stock performance compare to the best in your business sector-not the average of all the companies in your business sector but only the best? How do your employee survey scores compare to the best in your business sector-not the average of all the businesses in the database but only the best?

Comparing oneself to the very best is legitimate especially if the best sets a benchmark that you adopt as your own. But to compare oneself to the average serves no useful purpose. If a senior management group knows that their scores are better than the average of all the companies in a database, strategically of what use is this information. Perhaps it may give them a sense of pride knowing that they are better than the average. But it may also lull them into a false sense of confidence. The question that should be top of mind is “are we really as good as we can be and are we really achieving a level of excellence that will sustain us over the long term.”

For example, employee turnover in the retail sector is fairly high. Most retailers take it for granted. Entec Corporation has been working with Gap Inc. Canada for several years. Gap offers excellent training programs especially for their associate managers and store managers. In 1999, Gap was routinely being raided by other retailers and their annual turnover rate for store managers was 39% and for associate managers it was 48%. This was costing Gap hundreds of thousands of dollars each year in recruiting and training. With over 200 stores and 10,000 employees across Canada, these costs were unacceptable. Entec Corporation was engaged by Gap to conduct an Organizational Health Survey. Gap acted upon the recommendations in the survey and was able to reduce manager turnover rates to 13% in one year.

But these lower turnover rates were accompanied by real business gains. For example, secret shopper scores increased by 5% after only eight months and sales in Canada over the last few years have improved to a level where the Canadian operation moved from being about in the middle to becoming one of the most profitable divisions in the world. The survey results were linked directly to the bottom line.

If Gap accepted “the trap of comparing themselves to the average” and accepted the conventional wisdom that “this is the average turnover rate in retail so we are OK”, they would not have saved thousands of dollars each year in training and recruiting. More importantly they would not have experienced the benefits that reduced turnover brought them; namely preserving human capital of highly trained managers that helped to grow Gap’s business. This last point is typically overlooked. The impact of a reduction in turnover of well trained employees to the bottom line of a company is considerably higher than the cost savings achieved from reducing recruiting and training.

Several points need to be considered when embarking on an employee survey:
1.    Develop clear strategic objectives
2.    Measure towards those objectives
3.    Inform your employees of the survey scores
4.    Follow up with positive implementation
5.    If you must compare yourself to others, compare yourself only to the best

If this process is not followed the organization can expect:

1.    Employee participation rates in the survey to be low (30% or lower)
2.    Rising employee cynicism with the organization (why bother if the activity of completing an employee survey does not make a difference)
3.    Employees become disengaged from the organization
4.    The organization loses an opportunity to make significant strides in performance

Conclusion

The trap an organization falls into when they become focused on benchmarking themselves against others is that they lose sight of what is really important-what is it that we are doing well and where do we need to improve in order to create an even better organization than the one we already have. If you must compare yourself to others, compare yourself only to the best and do not get side tracked.

Cash Flow Planning for Solo Professionals

2010-11-20T10:16:00.000-08:00

You’ve heard it a million times – cash flow can make or break a business. Lack of cash flow planning is the reason why many businesses fail. In fact, many PROFITABLE businesses fail because of cash flow issues. Without adequate cash flow, you can’t pay your bills and you can’t make plans for your business.

So… what is cash flow planning? Cash flow planning is projecting your future cash inflows from sales, services, and loans, and comparing them to your future cash flow needs (suppliers, salaries/wages, loan payments, taxes, etc.). The difference between the two is your net cash flow.

Why is cash flow planning so important? Cash flow planning can help you identify problems down the road, and fix them before they occur. Cash flow planning can also help you make decisions such as should I attend that conference I’ve wanted to attend, should I buy the new computer I’ve been wanting, or do I need to work extra hard this month to avoid a cash flow deficiency next month?

The first step in planning your cash flow is knowing where you spend your money! Solo entrepreneurs need to have a good grip on both their personal and business spending, as most solo entrepreneurs rely on their business income to meet personal finance goals (i.e., pay the bills!). So, you should track both your personal and your business spending, although I recommend that you keep them separate (that’s a topic all by itself).

What’s the best way to track your spending? You can use pen & paper, spreadsheets or a software program. The best method for you is the method that you will actually use on a regular basis.

You should project your spending for at least the next 12 months so that you include annual and other periodic expenses. If you are experiencing a cash flow crisis, you should track & project your cash flow on a weekly basis, instead of monthly.

If you are an existing business, you can project your cash flow for the next year by reviewing your expenses for last year. If you are a new business, you will need to estimate your start up costs in addition to regular operating expenses.

Start up costs include inventory, legal expenses, advertising, licenses & permits, supplies, and many more costs that you may not have thought of. To research startup costs you should contact your local Small Business Development Center, contact a SCORE counselor, join groups of similar business owners, and read as many books or articles you can find on the subject.

To improve your cash flow, you should:

1. Complete the first 3 steps. You have to understand cash flow planning, track your cash flow, and project your future spending needs before you can improve your cash flow.

2. Create best and worst case scenarios and create appropriate responses to both scenarios. For example, if your best case scenario is to increase sales by 50%, how will you use the profits? Will you put the profits back into the company by investing in new equipment, training, etc.? If your worst case scenario is a drop in sales by 50%, how will you continue to cover your monthly expenses? By planning for the best and worst case scenarios, you’ll be ready for any situation.

3. When estimating your future income, realize that some people will pay late, and account for that fact in your projection.

4. Charge what you’re worth. Many businesses, especially service professionals, under-charge when they are first starting out. This is a great way to go out of business. Make sure you are charging what you’re worth, and remember you’re in business to make money, not to give your expertise away for free.

5. Watch your business spending. Focus on the value the item brings to your business, and avoid lavish spending (i.e., do you really need the fastest, newest computer available?).

6. Don’t hire until necessary. Consider using virtual assistants or temporary employees before hiring permanent employees.

7. Give incentives for early payment for products and services. On the flip side, chase down invoices the minute they’re late. Charge interest or late fees to encourage timely payments.

8. Update your cash flow regularly. Your cash flow plan will change frequently as your business grows. You may want to update your cash flow plan weekly when you first get started, then switch to monthly once you’ve got a good handle on your cash flow.

Remember - whether you are a new or growing business, your cash flow projection can make the difference between success and failure.

Q&A with the Experts

2010-11-15T22:13:00.000-08:00

A project in business is a collaborative enterprise, frequently involving research or design, carefully planned to achieve a particular aim. Whether your business includes selling a product or providing a service projects are everyday tasks. The event/convention production industry obviously is not the exception, and PR 101 had the opportunity to discuss very important points in the development of conventions with a talented local Puerto Rican PR firm; Eferrer Public Relations & Integrated Communications.

Eferrer is a boutique firm specializing in Public Relations and Integrated Marketing Communications, established in Puerto Rico.

“We believe success strives in being strategically creative. Offering our clients the perfect marketing mix based on a continuous process of analyzing necessities, opportunities and weaknesses of our clients, keep us on the competitive edge”

-Eferrer Public Relations & Integrated Communications

PR 101 had the opportunity to have a Q&A with the company’s founder & CEO, Edaliz Ferrer. Here she gave some pointers on project (in this case Convention/Event planning) development, among other things.

PR 101: What are the main starting steps to create a convention?

Ferrer: The main points taken into consideration at the starting point in the creation of a project are the objectives, and the purpose of the project. You also have to take into consideration the audience that you want to address, the date, very important the budget, and the history; has the event been done before or is it new.

PR 101: What are the key factors to a successful event/convention?

Ferrer: Definitely, I believe there are 5 key factors to a successful event. First would be the planning, this includes the brainstorming process and the determination of the roles within the work group. Another key factor are teamwork, and your ability of budgeting. Last but certainly not least, it’s a tie tied between time and sponsors, both equally important.

PR 101: Which are some of the common objectives for a prosperous convention?

Ferer: To be able to meet every objective established for any event is the best to determine how successful or unsuccessful the event truly was. This is why at the time of choosing the most common and most important objectives of a convention production I chose the following:

· Earn triple of the investment

· Be able to do the event continuously, at least once a year.

PR 101: Working on a PR firm, what is the most common request from clients that are looking for new venues to do conventions or events?

Ferrer: Every client is different. They have different needs, ideas, suggestions and requests. I can say that the most important qualities they search within new venues are the venue’s capacity, its cost and its accessibility.

PR 101: Which are some of the common mistakes event coordinators or producers make, creating events?

Ferrer: Wow, at the time of making an event you have a great responsibility of meeting every client’s demands and request but sometimes we do have mishaps. No need to say that sometimes its trial and error what helps us get better through time. Some of the main mistakes are concentrating on the assembly, equipment, sound, and lights, and not on the content of the event.

PR 101: What tips can you suggest for creating a one of a kind event?

Ferrer: A one-of-a kind event is not very difficult; you must have a good and creative name, an innovative idea, new opportunities to expand the market within sponsors and knowing how to target your market.

PR 101: Why is Puerto Rico is a good alternative for an event/convention?

Ferrer: Puerto Rico is a great destination either to do tourism or to create an event or convention. Considering the year round nice climate, quality service, a wide range of activities for all ages and preferences. In addition you have the option of incorporating water sports, and top class nightlife. And remember Puerto Rico is part of the USA, which means that if you are American you don’t need a visa or passport to come and visit.

PR 101: What venue in Puerto Rico would be a good choice to do a company convention?

Ferrer: The best one would be the Predo Roselló Convention Center.*

PR 101: What does Eferrer Public Relations & integrated Communications have to offer in the Event/ Expo/ Convention department?

Ferrer: At Eferrer Public Relations & Integrated Communications we offer and guarantee the best production and content you can wish for. Not only a one of a kind experience but attention to detail like no other. In addition we provide media exposition free from cost. In conclusion, we offer an unforgettable experience.

PR 101: Does Puerto Rico really does it better? Why?

Ferrer: OF COURSE! We offer great service, first-rate tourism; some of the finest hotels from 2 to 5 stars, plus affordable air fees and accommodations can be found easily. You can have the best of worlds, Spain’s exotic history with hip modern cities and fine entertainment. Plus we speak English!

From left to right: Camila Calderon, Edaliz Ferrer, Diana Otero & Ishaa Lopez. Staff at Eferrer Public Relations &Integrated Communications

So, consider Puerto Rico as a venue for your next event/convention. You won’t regret it. Special thanks to everybody on Eferrer Public Relations & Integrated Communications, especially Ms. Edaliz Ferrer for taking some time off her hectic schedule and sharing some of her knowledge with us.

For more information on Eferrer PR Firm, add them on Facebook or follow them on Twitter.

The T Factor

2010-11-02T00:47:00.000-07:00

The T (Team) Factor...
The importance of a Team in the creation of an event and/or convention.

The task of making a successful event and/or convention, requires a large amount of planification, budget, brainstorming and the right team to make an exceptional activity. Like in any project or business, the people or team used to complete a certain task is the number one factor or element, to ultimately develop and complete victoriously an event.

During the process of creating an event certain steps involving your team and other areas, have to be considered.

Estimate the number of people who will be attending your event.
List what items would be needed for the venue.
*Make a list of the number of people required to assist in the running of the event. This includes your personal team and other required personnel such as, camera operators, lighting operators, sound controllers, car park assistants, caterers, etc.
Split your event into workable categories. Make sure you assigned a team member to take charge of each category.
Make sure the overall event coordinator has no other task than coordination.
Assigned a suitable person to act as a master of ceremonies. (This person is also considered part of your team)
Make sure your program is structured so that the attendees have time to eat, bathroom breaks and occasional breaks.
Assign a team member to be in charge of making sure local by laws are met and making sure the insurance is in place.
Assign a host.
Make sure you have appointed personnel to deal with unwanted situations. This includes assistants.

This is a guideline to some of the most important team members and roles that you need in order to create an event/convention. Although, these check points depend on the event, the number of attendees, objectives, budget, among others. Positively, the team in charge of creating an event is CRUCIAL. However, making sure the communication, coordination, roles, balance of contributions, mutual support, effort and cohesion, appointed by the boss or project manager, are going to be the key factors in determining the quality and success of your event.

Conclusion: The TEAM Factor is the key factor to the success of your event and/or convention. Make sure the team you choose meets with all the requirements and necessities of the task. This way the event will result in SUCCESS. Teamwork is the word of the day!

Importance of Teamwork:

Sources:
Video: http://www.youtube.com/watch?v=mKucprXVGMU
Information:
http://www.feministcampus.org/fmla/program-materials/pdf/6-- EventPlanning%20thru%20Public%20Speaking.pdf
http://www.wikihow.com/Organise-a-Convention

Advertising Secrets

2010-10-25T21:06:00.000-07:00

When I first got into the online advertising business, I was looking for the magical combination that would put my website into the top search engine rankings, catapult me to the forefront of the minds or individuals looking to buy my product, and generally make me rich beyond my wildest dreams!

After succeeding in the business for this long, I'm able to look back on my old self with this kind of thinking and shake my head.

If you're reading this article and you've come this far, you're probably looking for the magic answer yourself. You've probably read a few dozen or a few hundred articles just like this about pay-per-click advertising, maximizing return on investment, keyword stuffing, black-hat seo tactics, text-link banner exchanges, and the list goes on.

Well, I'm here to tell you that I have the one be all end all answer and I'm sharing it with the world!

The truth is that there is no magic secret to online advertising. No one method will generate the largest amount of income/exposure for every website or business imaginable - it's all a matter of trial and error, time and talent.

That's a pretty weak answer, I know. It would have been much cooler for me to tell you that buying tiny classified ads in your local paper was the key to success and riches. Well, I'm sorry. For the few of you that have been down this road before and are starting to get it, you'll hear a ring of truth in my words. The sooner you stop looking for a quick fix to make your message stick, the better.

For what it's worth, these are my thoughts.

1) The internet has only been alive for a few short years, and in that time it has changed dramatically many times over. Remember in 1995 when everyone first discovered the cool little animated envelope .gif that you would click on to send them email? Where was your online bill-pay, instant messaging, and dynamically generated page content then? And only a few short years later you can see how far we've come and use that as a measure for how far we can go.

The point is that the internet, like other forms of media, is a rapidly evolving monster. What works for online advertisers today might be completely ineffectual only a few months from now. That's why the best advertisers are constantly researching and creating their own unique marketing strategies. The trick is to find out what works for you, and to make sure that you revisit it from time to time to tune it up as the market changes.

2) You Have to Spend Money to Make Money. It's a tired line, but it's that way because everyone says it. Don't be afraid to add fuel to your advertising fire and take it to another level. Try investing (note that I said investing and not spending) five, ten, or fifty thousand dollars in advertising. If you don't jump out a window the first time you do it, you may walk away with a big smile and a little pocket money!

The hard part about investing a big chunk of money is coming up with it in the first place. If you already have $50,000 laying around for advertising and are just looking for a place to put it, give me a call. If you're not that lucky, try looking at the Small Business Administration for ideas on how to get a small business loan.

If you don't want to go farther than your mailbox, examine some of those credit checks your bank keeps sending you in the mail. A lot of people take advantage of their fairly reasonable interest rates to fund projects.

3) Presentation is Key. You'll find that excellent writing skills and good marketing go hand in hand. As you improve on one, the other is bound to follow. Knowing how to write, and how to write well will give you an extraordinary advantage of the majority of individuals vying for your customers' attention. I don't know about you, but I get a lot of spam for people wanting to sell me their "good, cheap, A+ #1 $$$ rolex watch, discount Viagra, H0t s1utz, etc."

Needless to say, I have never purchased anything from them and most likely, neither have you. If you have, please drop me a line and let me know how it worked out. I'm always wondering how many of those are a scam.

The emails and circulars that I do purchase from come from GoDaddy, buy.com, Google and a host of other professional companies that take a few minutes to earn my trust with good punctuation, grammar, and quality content.

If you don't have a talent for writing (and you know who you are) you have two choices:

Get better - easier said than done. Like most things, writing is one part talent and nine parts hard work. Take some classes, do peer editing suggestions, or send it to me look over (first ten-thousand submissions only).

Or, get someone else to do it - leaving more time for you at the helm. I like this option not only because it's a time saver for me, but also because the work generally comes out better than anything I could have done. This article is an excellent example. I provided a detailed outline, some good anecdotes, and the strategies above and the copywriters at danifer.com did the rest. I made a deal with them to write the article for $149 and we share the syndication rights. Not bad for half an hour's work.

If you can't afford to hire a pro, be courteous to yourself and your audience by simply re-reading your work, running a spell check, and letting your wife/husband/friend/co-worker look it over. You'd be surprised at how many things invisible to you will stand out to a fresh set of eyes.

10 Ways To Reduce Tax Burden For Your Small Business

2010-10-23T00:40:00.000-07:00

Everyone worries about taxes and looks for ways and means of reducing the tax burden. When you have a small business of your own you must up date your knowledge of tax laws that pertain to “small businesses.” As a business owner you must understand clearly about accounting systems and tax planning. Sit down with your accountant and plan on ways of maintaining business expenses, filing receipts, planning on “tax saving” investments, and a strategy for running the business in the most beneficial way.

Did you know that:

1.    According to law you can reduce your tax liability by hiring family members to carry out work in your business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.

2.    Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRS’s criteria.

3.    Think about “deferring income” postpone receiving money to January instead of December. This means that payments received will be up for “tax” calculations a year away. However ask your accountant’s advice as the benefits are dependant on profit and losses for the year and your corporate legal structure.

4.    Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.

5.    Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.

6.    Include expenses of business related travel in the current year.

7.    Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the business can be included for accounting and applicable tax waivers.

8.    Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.

9.    Be sure to deduct from your taxable income money paid to licensing fees, businesses taxes, and annual memberships to businesses related organizations. Be sure to deduct interest paid on borrowings for running the business and related fees. Insurance premiums paid to insure the business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.

10.        Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.

Decide whether a cash accounting system or accrual one will benefit your business. The tax deductions are different depending on the system you use. When setting up your small business take the advice of a tax and accounting professional as to which accounting system would be most suitable.

How to Write a Business Plan

2010-10-21T23:12:00.000-07:00

There are many types of symbols. Money from investors, banks or financial organizations is one such kind of symbols.

A successful Business Plan (=a successful manipulation of symbols) is one which brings in its wake the receipt of credits (money, another kind of symbol). What are the rules of manipulating symbols? In our example, what are the properties of a successful Business Plan?

(1) That it is closely linked to reality. The symbol system must map out reality in an isomorphic manner. We must be able to identify reality the minute we see the symbols arranged.

If we react to a Business Plan with incredulity ("It is too good to be true" or "some of the assumptions are non realistic") - then this condition is not met and the Business Plan is a failure.

(2) That it rearranges old, familiar data into new, emergent, patterns.

The symbol manipulation must bring to the world some contribution to the sphere of knowledge (very much as a doctoral dissertation should).

When faced with a Business Plan, for instance, we must respond with a modicum of awe and fascination ("That's right! - I never thought of it" or "(arranged) This way it makes sense").

(3) That all the symbols are internally consistent. The demand of external consistency (compatibility with the real world, a realistic representation system) was stipulated above. This is a different one: all symbols must live in peace with one another, the system must be coherent.

In the example of the Business Plan:

Reactions such as: "This assumption / number/ projection defies or contradicts the other" indicate the lack of internal consistency and the certain failure to obtain money (=to manipulate the corresponding symbols).

(4) Another demand is transparency: all the information should be available at any given time. When the symbol system is opaque - when data are missing, or, worse, hidden - the manipulation will fail.

In our example: if the applicant refuses to denude himself, to expose his most intimate parts, his vulnerabilities as well as his strong points - then he is not likely to get financing. The accounting system in Macedonia - albeit gradually revised - is a prime example of concealment in a place where exposition should have prevailed.

(5) The fifth requirement is universality. Symbol systems are species of languages. The language should be understood by all - in an unambiguous manner. A common terminology, a dictionary, should be available to both manipulator and manipulated.

Clear signs of the failure of a Business Plan to manipulate would be remarks like: "Why is he using this strange method for calculation?", "Why did he fail to calculate the cost of financing?" and even: "What does this term mean and what does he mean by using it?"

(6) The symbol system must be comprehensive. It cannot exclude certain symbols arbitrarily. It cannot ignore the existence of competing meanings, double entendres, ambiguities. It must engulf all possible interpretations and absolutely ALL the symbols available to the system.

Let us return to the Business Plan:

A Business Plan must incorporate all the data available - and all the known techniques to process them. It can safely establish a hierarchy of priorities and of preferences - but it must present all the possibilities and only then make a selection while giving good reasons for doing so.

(7) The symbol system must have links to other, relevant, symbol systems. These links can be both formal and informal (implied, by way of mental association, or by way of explicit reference or incorporation).

Coming back to the Business Plan:

There is no point in devising a Business Plan which will ignore geopolitical macro-economic and marketing contexts. Is the region safe for investments?

What are the prevailing laws and regulations in the territory and how likely are they to be changed? What is the competition and how can it be neutralized or co - opted? These are all external variables, external symbol systems. Some of them are closely and formally linked to the business at hand (Laws, customs tariffs, taxes, for instance). Some are informally linked to it: substitute products, emerging technologies, ethical and environmental considerations. The Business Plan is supposed to resonate within the mind of the reader and to elicit the reaction: "How very true!!!"

(8) The symbol system must have a discernible hierarchy. There are - and have been - efforts to invent and to use non-hierarchical symbol systems. They all failed and resulted in the establishment of a formal, or an informal, hierarchy. The professional term is "Utility Functions". This is not a theoretical demand. Utility functions dictate most of the investment decisions in today's complex financial markets.

The author(s) of the Business Plan must clearly state what he wants and what he wants most, what is an absolute sine qua non and what would be nice to have. He must fix and detail his preferences, priorities, needs and requirements. If he were to attach equal weight to all the parts of the Business Plan, his message will confuse those who are trying to decode it and they will deny his application.

(9) The symbol system must be seen to serve a (useful) purpose and it must demonstrate an effort at being successful. It must, therefore, be direct, understandable, clear and it must contain lists of demands and wishes (all of them prioritized, as we have mentioned).

When a computer faces a few tasks simultaneously - it prioritizes them and allocates its resources in strict compliance with this list of priorities.

A computer is the physical embodiment of a symbol system - and so is a bank doling out credit. The same principles apply to the human organism.

All natural (and most human) systems are goal-oriented.

(10) The last - but by no means the least - requirement is that the symbol system must be interfaced with human beings. There is not much point in a having a computer without a screen, or a bank without clients, or a Business Plan without someone to review it. We must always - when manipulating symbol systems - bear in mind the "end user" and be "user friendly" to him. There is no such thing as a bank, a firm, or even a country. At the end of the line, there are humans, like me and you.

To manipulate them into providing credits, we must motivate them into doing so. We must appeal to their emotions and senses: our symbol system (=presentation, Business Plan) must be aesthetic, powerful, convincing, appealing, resonating, fascinating, interesting. All these are irrational (or, at least, non-cognitive) reactions.

We must appeal to their cognition. Our symbol system must be rational, logical, hierarchical, not far fetched, true, consistent, internally and externally. All this must lead to motor motivation: the hand that signs the check given to us should not shake.

THE PROBLEM, THEREFORE, IS NOT WHERE TO GO, NOT EVEN WHEN TO GO IN ORDER TO OBTAIN CREDITS.

THE ISSUE IS HOW TO COMMUNICATE (=to manipulate symbols) IN ORDER TO MOTIVATE.

Using this theory of the manipulation of symbols we can differentiate three kinds of financing organizations:

(1) Those who deal with non-quantifiable symbols. The World Bank, for one, when it evaluates business propositions, employs criteria which cannot be quantified (how does one quantify the contribution to regional stability or the increase in democracy and the improvement in human rights records?).

(2) Those who deal with semi-quantifiable symbols. Organizations such as the IFC or the EBRD employ sound - quantitative - business and financial criteria in their decision making processes. But were they totally business oriented, they would probably not have made many of the investments that they are making and in the geographical parts of the world that they are making them.

(3) And there are those classical financing organizations which deal exclusively with quantifiable, measurable variables. Most of us come across this type of financing institutions: commercial banks, private firms, etc.

Whatever the kind of financial institution, we must never forget:

We are dealing with humans who are influenced mostly by the manipulation of symbol systems. Abiding by the aforementioned rules would guarantee success in obtaining funding. Making the right decision on the national level - would catapult a country into the 21st century without having first to re-visit the twentieth.

Business – Strategy and Execution

2010-10-21T06:24:00.000-07:00

Every company aims to formulate good strategy and execute that strategy well. But many times it is found that it was either good strategy, bad execution or bad strategy and good execution. Why and how to avoid this?

Let us begin with what is a strategy? In simple terms, it means the plan to achieve the desired goals or results. If any organization has well defined goals, and can develop a strategy to achieve them, it should be half the battle won. But it is seen that execution fails. Why should that be so? It may be the fault of the team that executes the strategy, or certain unknown factors that unexpectedly or unknowingly creep in while executing the plan.

What should be done? Ideally the team that forms the strategies should consider the factors such as who are the people who will execute, does the company have the capacity to execute, what if any unexpected change or event occurs while executing, what are the risks involved, and so on. No strategy can be created without taking into account the ability of the people who will be executing it. One may create a great marketing plan but if the field marketing staff fails to understand and execute the game, it is bound to fail and then the blame game begins.

Can a company make a single team that not only creates the strategy but is also responsible to execute it? This will eliminate many such hiccups on the way. The problem is expertise. I am a good strategist and not a good executor. You are a bad strategist but a good executor on the ground. What if such arguments are presented by the team under formation? All right, how about creating a strategy and keep the execution team in the loop throughout the process of creating strategy? This creates another set of problems. The views of both the teams may be so different that no positive outcome will ever result.

I have discussed in brief about these factors above. In real life, more complications arise and especially in large organizations, the complexities increase. The only solution for the top management is to set goals and discuss them with every one. After getting every one in confidence, create strategies and let every one participate in the strategy formation. Decide about what is totally achievable and why may be achievable. Let the team that will execute commit itself to achieve what is totally achievable and promise them with rewards if they manage to achieve the other part also. The synergy between the strategy makers and the executors will ultimately decide the final outcome.

Boost Your Sales Through Sales Trainings

2010-10-20T17:15:00.000-07:00

Many people regard sales as the most effective way of earning unlimited income. In fact, 7 out of 10 salespeople who were interviewed why they preferred sales as their job, they have contended that in sales, they can earn income on tap. This goes to show that they can either earn more or earn less.

From this point of view, salespeople view their success based on the kind of sales training that they have. Of course, no one could instantly exert expertise without the proper training that he needs in his career.

Hence, many salespeople are more than willing to submit their selves to sales training. They know that it would be one of the best ways to earn and achieve success.

So for those who cannot understand why sales training is important in a salesperson's career, here are some of the advantages of engaging into such sales booster activity.

1. It is a great help

Based on its basic concept, sales trainings are especially created to help the salespeople hone their skills and improve their craft. Their ability to create more sales is improved through the acquisition of advanced marketing strategies.

2. Molds better attitude

Another best thing about sales trainings is that they do not mainly focus on improving the skills and abilities of the salesperson as far as selling are concerned. Through these trainings, the attitude and behavior of the salesperson towards sales are improved.

Sales trainings teach them how to deal with the clients properly, how to handle objections, and how to persuade people. These things are not commonly taught on ordinary training programs.

3. Teaches good interaction

Through sales training, the seller will be able to identify the right strategy in dealing with his clients. It provides the right combination of language, perception, attitude, and the art of selling in order to interact with the client in the most favorable method.

The focus of this activity is to make the seller realize that selling should never be hard, or what most salespeople believe as hard selling. The point here is that with proper interaction, selling becomes an art, where the words and emotions are interlaced so as to lure the client to buy the product.

The Upshots

If sales training had been effective and was properly explained, chances are, sales will grow. But if it was done otherwise, more than a few unconstructive results may happen.

One of which is the lack of communication or miscommunication. Without proper orientation on the job and proper comprehension of the nature of the job, both the management and the employees might have difficulty in communicating the correct ideas and concepts.

Also, without sales trainings, salespeople will be less confident in distributing their products. This is because they are not fully aware on how to face their clients and how to persuade them into buying.

And last, without proper sales trainings, the people will not be enticed to do their job and advanced on a higher level of enthusiasm. This is because they are not aware of the possible compensation they will get ever they have performed better.

Indeed, sales trainings are not just any ordinary program and not just like any other training program designed just for the sake of having it. It has its purpose, and its results will definitely reap more income.

Five Tips To Managing Your Small Business

2010-10-19T12:15:00.000-07:00

Managing a small business is rewarding, both personally and financially. However, it is also stressful and time consuming. By keeping in mind the following five tips, small business owners can better manage their business and feel less stressed.

• Maintain a healthy work-life balance. If your business is run out of your home, try to set business hours that you work by, take breaks throughout the day or go out for lunch. Destress and recharge your batteries by developing interests or hobbies outside your business.

• Set goals. Setting short and long-term business goals can help you keep your business on track. They can also offer a sense of direction that helps to guide business growth. Whether it's opening another store or increasing profit, it doesn't hurt to "think big."

• Keep finances in order. Keeping track of money coming in and going out can easily get out of control using paper, spreadsheets and file folders. If this is your method, it's time to accurately track and keep your company finances organized throughout the year. This will also make tax time a whole lot easier. No matter if you have simple or complex accounting needs, with the help of financial software such as QuickBooks, you'll be able to easily and effectively manage your finances. For more information about managing your business finances.

• Stay informed. With any business it's important to stay informed about the industry, business trends and current events. At the same time, you need to stay informed about specific laws, regulations and tax codes that affect your business.

• Develop a network. Small business owners often don't have the support and resources that a large company can provide. Therefore, it's important to build a strong network of people-employees, vendors and other small business owners.

For example, participating in local business organizations and conferences are good ways to find support and develop a professional network. This network will prove invaluable when you need inspiration or advice on how to better manage your business.

Managing a small business doesn't have to be a juggling act. Simple tips can make managing a small business a breeze.

7 Key Strategies to Earn Customer Loyalty

2010-10-18T04:55:00.000-07:00

The key of your business success is building customer loyalty. Holding on to existing customers is as important as soliciting new customers to keep feeding your list with fresh subscribers. Customer loyalty is the key to your business growth and profit. Because loyal customers generate a continual revenue stream through repeat purchases, they bring your business-increased profitability at a lower cost.

Like in any other moneymaking system, to succeed as an email marketer, you will need to understand all the secrets that are available to keep growing your business and apply them immediately.

How to Build a Business Relationship to Gain Customer loyalty!

Everywhere you go online they tell you that you must have a list to succeed. That's true but it doesn't go far enough until you understand exactly what makes subscribers eager to pay for your products, success will remain subtle.

If you don’t know how to build a business relationship to keep your subscribers enthusiastic, eagerly waiting for your articles and rush to buy your product without any regard for brand, your list is worthless.

Hands down the main key factor of a responsive email list is the Trust Factor. If you earn your subscribers trust, you will have much more success when it comes to advertise to your list. Without the trust of your subscribers, they will be leery when it comes to pulling out their credit card to buy from you.

1 - Earn your subscribers' trust

Honesty is essential to earning customers' trust, and that trust is the key to gaining customer loyalty. Earning customers trust is important to the success of any business. Being honest goes with not hiding anything.

Let your subscribers know your Identification and contact information, such as your name, physical address, email address and telephone number. It is important that you let your subscribers know how to contact you for assistance. The more they know you as a person, the more they'll trust you. And when it comes to asking for money, nothing is more important than trust.

Warning: Be sure to be selective in what you promote to your subscribers. If you suggest a product that turns out to be a scam, your subscribers will likely blame you first for recommending it to them. You really can’t afford to take a hit like this to your reputation.

2 - Give Them What They Want

When your subscribers sign up to your ezine, they are doing so for a reason. They want the information you are telling them they will receive. Keep giving them that, and they’ll be happy as can be. Diverge from that, and you could find yourself losing subscribers quicker than you can get them.

Tips: Ask Your Subscribers what they want. Don’t guess. Use this great, easy to use online tactic to find out exactly what your subscribers will buy from you or what subject they want to learn about. You could hold a contest. By sending them simple questionnaires or surveys will give you a sense of your market's needs, wants and preferences. Give the winner a quality prize and/ or gift that he can’t find elsewhere. Getting your subscribers involved like this will also keep them interested in your emails and help get more emails opened.

3 - Don’t send “too many” marketing messages.

Two thing you really need to watch, as a publisher, is how to advertise your product/ service and what product you endorse. Nothing ticks off a subscriber more than thinking a publisher is only in it for the money. This will happen if you advertise too much, or if you advertise the wrong products.

Sending out an email newsletter with too much ads and a little or no quality information will hurt your reputation. You have everything to lose, and nothing at all to gain by stuffing your Ezine with ads.

The ads in your Ezine aren’t the only things you have to worry about. This also includes any ads you send out that are separate from your regularly scheduled newsletter. Sending out an ad each day is not the way to go if you want to build customer loyalty. It is the way to go if you want everyone to unsubscribe from your list.

4 - Make your subscribers your friends!

Give your subscribers a good sense of who you are. It’s important that your subscribers see you as a real person, because they will likely never meet you in person. One thing every successful publisher does is just talk about whatever is on their mind in each issue of their Ezine. They may talk about their family, their favorite sports team, politics, the weather, anything that’s going on. They usually ask the reader to write back a few comments about it, or the reader will just write back without being asked to. This creates a bond between the publisher and the reader that could result in future sales and future partnerships.

5 - Over Deliver

Nothing makes people happier than knowing you pay attention to them. Make your customers and potential clients delighted by giving them more than they expected. After they order your product or sign up for your publication, give them a gift or a bonus that wasn’t advertised, in addition to any gifts or bonus you promised they would get. I’m not talking about any ebook or software they can download from any website. Give something that no one or only a few other people are giving away. This kind of gift and bonus says that you put a lot of attention and thought into helping them succeed.

From time to time and in special events send free gifts just for the heck of it. By continuously over delivering, your subscribers will realize that you are trying to help them learn what they need to know, and they will appreciate it when you give them the tools and information they need to succeed. This is obviously geared more towards strong relationship and they stay loyal customers longer.

6 - Help Them Out

Besides giving your subscribers what they want, helping them with whatever they need help with is the best way to earn customer loyalty. While this works on an individual basis, instead of taking care of all of your subscribers at once, the people you are able to help will be very grateful, and will probably tell their friends, colleagues and neighbors about you. Positive word-of-mouth is a powerful way to acquire new customers and build customer loyalty.

If one of your subscribers sends you an email asking for help, help them out as much as you can. Don’t just give them a quick, one word answer. They’ll probably just be back asking for a little more information. Just go ahead and tell them what you can, and be nice about it, even if you think it’s a stupid question.

7 - Don’t Use Hype

I’m sure you’ve seen this before. It seems to be everywhere you look people trying to hype-up their offer to make it sound better than it is. Most people just want you to be straight with them.

If you just stick to telling the truth about a product, without making it look like hype, I think your subscribers will have much more respect for you. Personally, I think its stimulating when someone sends me a sales letter and outlines how I can benefit from it without trying to make it sound better than it is. Most people can tell the difference, and will probably be turned off by the hype.

The bottom line

When you combine all of these keys, you’ll build a strong relationship with your subscribers and they stay loyal customers for years. All you need to do is find a way to include all of these keys into your business marketing strategies, and you’ll soon find yourself getting new subscribers, building relationships with and earning customer loyalty.

Becoming A Coach In Everyday Life

2010-10-18T02:54:00.000-07:00

Be the change you want to see occur in the world around you. We can't make other people be more considerate, helpful, honest, etc., but if everyone were to work on themselves and develop these attributes, our world would be a better place.

Don't be judgmental. Look for and recognize the good in yourself and in others. We are all capable of so-called "good" and "bad" behaviors and we all have our "good" and "off" days. We are all unique and it is wonderful that we are different and not all the same - in our appearance, our thoughts, our opinions, our likes and dislikes. Being different is not threatening, it is not "bad", it is just "different". Embrace the differences and be happy for the variety. Likewise, forget the concepts of "right" and "wrong". People are not good or bad or right or wrong; they just are. If you were in "their shoes" maybe you would act differently, or maybe not. Being judgmental wastes time and cuts you off from opportunities and meaningful relationships - because you are not perfect either, and your judgment might be worse than the person's you are judging!

Respect. Don't make the mistake of thinking your rights are the only ones that count. Don't ignore the other person's rights. Our fundamental right is to be respected. Being wealthy does not make a person more deserving of respect and neither does a high-flying career with a fancy title. Respect is not about material issues or where one sits on the social ladder. Respect is acknowledging another human being's dignity and treating them how you wish to be treated yourself. We all came on to this earth equal and we're all checking out as equals. What happens in between is just a series of different life experiences. The poor man who lives in a slum, who cares for strangers, volunteers assistance without expecting anything in return and lives a clean, honest life is more deserving of respect than a wealthy businessman who dresses in fine clothes, lives in a huge mansion, and treats everyone like pond amoeba, cheats on his wife, swindles his shareholders and has forgotten how to tell the truth.

Be a Good Listener. How often do you really listen to other people? How often do you plan what you are going to say next while they are talking, or allow your mind to drift off onto something else instead of concentrating on their every word? It takes practice to be a good listener, but in being one, you are showing respect and in a position to better comprehend the real message being given to you. You avoid misunderstandings and missed instructions. Furthermore, the other person will appreciate your attention and return the courtesy.

Be interested - not interesting. This goes hand in hand with being a good listener. People love to talk about themselves and will delight in the opportunity to do so, so ensure you ask questions and take an interest in what they are telling you. Don't worry about them hogging the limelight - you can have your turn during the conversation. Have you ever met someone who only talks about themselves? Count the number of times you use "I" in your conversations. Judging, arguing points, interrupting the conversation, and using "I" a lot are sure signs you need to review your communication skills.

Respond from Your Heart. We tend to respond to others using our head, not our heart. We formulate stories about us, we defend our ego, or we judge other people or what they have said. If we respond from our heart, we can respond with understanding and a sense of connection. Find something good to say about people and to people. Build people "up" - don't knock them down. Go with your gut instincts.

Be truthful. There is a good reason for the saying "honesty is the best policy." Nothing good ever comes from lies, and there is a difference between being diplomatic and telling an outright lie. Nobody trusts a liar. If you've made a mistake, well, welcome to the human race! You don't have to lie to cover it up. You don't have to tell your truth "brutally", there are gentle and tactful ways of delivering truths and you should think carefully before you speak. But don't try to be deceitful because it has a habit of coming back to haunt you, and in those situations you are worse off than if you had just come clean in the first place, as uncomfortable as that may seem at the time.

Be helpful. When you need a helping hand, don't you just love the person who comes up and offers that to you? Wouldn't you love the opportunity to repay them? You can be that person that others look to respectfully with gratitude in their hearts, who will, one day, repay the gesture. What comes around, goes around. If you want people to be helpful to you, you must be helpful to others. It doesn't matter whether this is assisting your boss with a special project you can see he needs help with, or a co-worker who is struggling with a large workload, or an elderly neighbor struggling up the stairs with her arms full. People do remember kindness.

Maintain Your Integrity and Your Dignity. People with their integrity intact are easier to deal with in work or personal situations. They know where they stand and you know where you stand with them. You will feel better about yourself when you set your standards and stand by them and you will attract those who respect your standards and who have standards of their own. Being a doormat is disrespectful to yourself and to the person 'walking all over you'. It does not allow them to grow and learn to do something for themselves. Learn to say no gracefully. You have as much right as everyone else on the planet to have your own opinion and your own way of doing things, and reminding you of point (1) above, nobody has the right to make you feel 'bad' if you think, feel or dress differently. Remember, "to thine own self be true."

Go the Extra Mile. I mean this in a couple of ways. First, whether you are either asked to do something, or you are offering to do something, remember that if something is worth doing in the first place, then it is worth doing well. And while you are at it, what little touches can you offer to improve it? For example, who would you rather go to for your shoeshine… Mr. A does a wonderful buff and polish and is timely and not too expensive. Mr. B also does a wonderful buff and polish, he is also timely and not expensive, but he is also cheerful and interested in you and whistles while he works, so after your polish, you go on your way feeling on top of the world! Mr. B just went the extra mile for you. He didn't just polish your shoes, he lifted your spirits and made you feel good. If you are offering a co-worker assistance with copying some documents, go the extra mile and ask if she needs a hand stapling them or collating them. Going the extra mile need not involve a large expense of time, energy or money, but it's value to the recipient is often priceless, and one day, it will be reciprocated.

Say What You Mean and Mean What You Say. Neither beat around the bush being evasive, nor make promises you can't keep. On the other hand, if you say you are going to do something, do it. Be known as a reliable person. Honor your promises and agreements wherever possible - this stems back to integrity. Prepare to be flexible if need be, but know that you don't have to bend over so far backwards that your back snaps. Being assertive and being aggressive are two entirely different things, and you do not need aggression to be assertive. In fact, you are better off without the aggression! If you are wishy-washy and allow people or circumstances to be unconcerned for your position, you will develop that reputation and find more and more people willing to walk all over you and more situations in which it occurs. Being like this does not prove you are valuable to anybody - it just means you are a 'pushover'.

Manage Your Finances & Get Back in Control of Your Life

2010-10-18T00:49:00.000-07:00

“If you would be wealthy, think of saving as well as getting”

----- Benjamin Franklin (1706-1790)

There is no shortcut to personal and financial. Getting rich entails long years of discipline, hard work, thrift, and wise use of resources. Those who get rich quick usually do so because: they won a million dollars on lottery; duped other people in a scam; or inherited a fortune from a wealthy father or relative.

But if we go back to the root of the issue, it may be important to ask, “Why are some people poor?”

One of the main reasons why many people are poor or remain far from becoming rich is encapsulated in two words: financial mismanagement. Financial mismanagement is about squandering one's resource on things or activities that do not bear fruit or result in additional income. Mismanagement of finances is also one of the common causes of marital trouble and a source of enormous stress and anxiety in people.

So many people have fallen into the debt trap and now feel totally out of control of their life and finances.

So what can the average person do to better manage his or her finances? You do not have to be an economics graduate or a finance guru to get out of debt and stop the cycle of living from paycheck to paycheck. To get back on track in terms of your money and investments, consider the following suggestions:

1. Eliminate Your Debts, Avoid Unnecessary Spending

If you are like most people, credit card interest payments actually consume a large portion of your monthly income. The solution is simple: pay-off your existing debt and avoid making additional loans or unnecessary purchases. Eliminate debt as fast as you can. Make a list of payables and prioritize either by starting on items that have the higher interest or those that can be easily paid off. The choice of which debt to pay-off first depends on your paying capacity, or the amount that you take out from your monthly budget to settle the debt. Another tip is to tell your bank to set automatic payments on your checking or savings account so you can avoid late payment charges and other penalties from the credit card company. Avoid missing payments since the compound interest on your loan or credit will affect your financial position.

2. Have an Emergency Account

After paying off every single debt, the next step is to start on an aggressive savings plan. There are actually several savings plans that you should start on. One such plan is to have an Emergency Account. Always set aside at least 5% to 10% of your paycheck as savings. If your budget permits it, save a separate amount to fund your emergency fund which you can use for unexpected expenses, sudden loss of a job, hospital bills, and other unplanned spending. Having at least six month's worth of your salary as an emergency fund is a workable goal. However, make sure that you use the emergency fund for emergency purposes only and not for trivial spending.

3. Check Out Your Company's Retirement Plan

Retirement plans help individuals set aside money that they can use after they retire. A 401(k) is a retirement plan that was named after a section of the United States Internal Revenue Code. The employer-sponsored plan works by setting aside a portion of an employee's salary which, in turn, is invested in mutual funds, stocks, and other investments in the money market. Another option is to invest the money in company stock. The advantage of the 401(k) is that the plan is tax-deferred.

4. Pension for the Self-Employed

If you are self-employed or belong to an unincorporated business, you can study the potential benefits of the Keogh Plan which allows self-employed individuals set aside up to 15% of their income or they can participate in a mutual fund company and make automatic contributions or you can get a pension plan.

5. Invest Your Money

While saving some of your hard-earned money is a good start, leaving it all in the bank may not give you the results you need. Get educated about investments and other financial instruments you can use to make your money earn more than what you are currently getting from the bank. The first step is to learn about passive and active income. You must also learn how to analyze and choose investments that will earn more money in the long run. Mutual funds, stocks, and other investment options are available for you to study and consider.

6. Manage Your Money Online

If you have an Internet-capable computer at home or at work, you can actually manage your finances online. You can check your balance and credit statements, transfer funds, pay your bills, and monitor the status of your savings through your bank's online system.

Indeed, there is no shortcut to wealth. Living the good life entails planning, setting goals, discipline, a great deal of sacrifice. Getting rid of worry and anxiety attacks over financial difficulties is not an impossible task. When you save and invest wisely, you will be able to prepare the tough times that are sure to come; and you can have enough to enjoy life, which is the reason why we need to take control of our finances.

Entertainment - NIGHTLIFE

2010-10-17T11:59:00.000-07:00

Do the SALSA!!

If you are in the mood for dancing the night away, live latin music, good typical food at a great atmosphere, "The Latin Roots" (Club/Restaurant/Lounge) is your spot for the night!

"The Latin Roots” is a Club, Restaurant and Lounge made for those passionate of the Latin music; Salsa, Merengue, and Bachata.

The club recently opened it's doors on November 2009, and its practical location at Historic Old San Juan makes this club a must see. Just entering the club you will feel the latin beat and history enter your mind. Starting with the club's walls, in them you can see the history of tropical music with the memorabilia of the greatest interpreters of the Latin music…

The most important Orchestras are part of the venues' calendar. They also present “Vive la Salsa” show, this show is a musical magazine that will take you on a journey to the very roots of latin music.

Hungry from all the dancing? The Latin Roots cuisine is an extravaganza of all the Island’s delicacies. The tradition of Puerto Rican cuisine and the fusion of tropical flavors offer you a unique menu, specially designed for you.

Don't know how to salsa? In “The Latin Roots” you will also learn how to dance Salsa. With the opportunity of getting some dancing lessons at the club, their Salsa teachers are always available to make your visit at “The Latin Roots” an unforgettable experience…

Have "The Latin Roots" all to yourself! The club offers the opportunity to celebrate Private Parties and Events.

PRIVATE PARTIES
“The Roots” room is the perfect place to celebrate your party. This room has a capacity of 60 people, a bar and bartenders dedicated to your party only. The club's personnel will take care of all the details of your event. In addition, they will give you a bottle of champagne so you can enjoy your party!

PRIVATE EVENTS
Likewise, their room is available for events of up to 800 people. Their services include music, food, drinks, shows and everything you need for your event to be a complete success.

The club opens Monday thru Sundays from 11:00 AM to 2:00 AM.

During the day…
The venue in the Old San Juan area fills up with color, art and music. Learn how to dance to the rhythm of a live orchestra and with the best Salsa teachers, enjoy spectacular dance exhibitions, and you can catch the musical magazine The Salsa Dream with beautiful dancers and great singers while you enjoy the delicious Puerto Rican food.

During the night…
At nightfall, “The Latin Roots” turns to an elegant and sophisticated club where you can dance to the rhythm of the greatest Salsa, Merengue and Bachata orchestras. Each new day, a new rhythm goes along with Salsa at “The Latin Roots”. On Tuesdays they mix it with Bachata, Wednesdays and Sundays with Merengue…

Get Schooled!! On Mondays and Thursdays, Salsa classes are the main course of the dance floor and on Fridays and Saturdays enjoy the greatest interpreters of tropical music.

This is definitely the place to enjoy live latin music! For more information you can access the club's official Website The Latin Roots.

A BAILARRR!

(Danceee)

References:
http://www.thelatinroots.com/

Pictures:
http://puertorico.mydestinationinfo.com/en/the-latin-roots
http://www.google.com/imgres?imgurl=http://www.frylow.com/logos/latinroots.jpg&imgrefurl=http://www.frylow.com/frylow_testimonials.html&usg=__B9LhKcVrjOVB_XLB2L6lqWJbu9M=&h=94&w=213&sz=11&hl=en&start=31&sig2=fxaz3jWXqQhdjInpennd4g&zoom=1&tbnid=iD2Hx05QQecBTM:&tbnh=75&tbnw=170&ei=7G2-TPqbMsWBlAfVo9HiBw&prev=/images%3Fq%3Dthe%2Blatin%2Broots%2Bpuerto%2Brico%26um%3D1%26hl%3Den%26client%3Dsafari%26rls%3Den%26biw%3D1440%26bih%3D780%26tbs%3Disch:10%2C727&um=1&itbs=1&iact=rc&dur=308&oei=uW2-TPGHAYO0lQf548jkBw&esq=2&page=2&ndsp=28&ved=1t:429,r:8,s:31&tx=64&ty=49&biw=1440&bih=780

Business loan and how to acquire it

2010-10-17T04:07:00.000-07:00

Business(perniagaan) loan can cater to your each and every aspect of your business. The urgent requirement of funds for your business can be catered through a business loan. It is easy to seek a business loan now a day. All you need to do is to fill up an online application form and your application form will reach to suitable lenders. The lenders may contact you by making thorough analysis of your application form. There are lenders in U.K. who can provide you with the business loan quickly and with great ease.

Business loans are offered according to your need and business concern. A business loan can be availed by entrepreneurs for various business requirements. It can be used for purposes like maintaining cash flow, establishing infrastructure, purchasing office equipments, machinery etc.

A business loan can be sought for small, medium and big businesses. If you are suffering from an adverse credit history then also you can seek a loan. It can also be used to start a new business venture or in expanding your existing business.

The business loans are flexible enough for loan repayment terms depending upon the current revenue trend. A great advantage with a business loan is that you will get competitive interest rates and your loans would be processed faster. The growing competition among the lenders in UK will help you in getting a businesses loan cheaper.

With a business loan you can attain an unimaginable profit in your business. Business loan will help you to cater to all your business need which would be really tough for you from other resources.

Don't let funds come your way in becoming a successful entrepreneur. Seek a business loan and expand your business, the way you want.

5 Good Reasons a Self-Employed Professional Should Take Vacation

2010-10-16T10:42:00.000-07:00

So you think you're not justified in taking time away from your business because you're self-employed? Here are five great reasons why you should definitely take a vacation:

1. Physical down time
You work hard to grow and maintain your business. Trying to be superhuman will certainly take its toll if you allow it to. Give your body a break by taking in some R&R.

2. Mental down time
Your days are filled with busy, sometimes even hectic, day-to-day activities related to your business. If you don't allow yourself to get away from it once in a while, your peace of mind and general well-being will most definitely suffer. Get out and play. Your mind will thank you!

3. Spend time with loved ones
Your family and friends see you working, working, working, sometimes rarely coming up for air. Both you and they will appreciate spending some quality time together.

4. See the world (or your own back yard)
The important thing is to do something you enjoy, whether it's traveling or, if that's not your cup of tea or you don't have the budget for it, spend time at home. If you also work out of your home, this could be challenging. The key is to stay out of your office during your vacation time. Try getting creative with this. Make your office "off limits" by closing the door and placing a sign on it. Do whatever it takes to keep your mind off working. How about a hobby or a day trip to the beach? Think of what you can do within your budget that's fun. Or do nothing at all!

5. You have a life
Although this one is a no-brainer, it surprises me how many small business owners don't feel as if they deserve time off. There is too much to do, and not enough hours in the day to get it all done. Well, I've got news for you. It's always going to feel that way! Only you have the power to allow yourself time off. Even if you prefer only to take a day here and a day there instead of a week-long (or longer) vacation each year, that's a whole lot better than never taking time off. Trust me, you'll feel better about yourself and your work if you take regular vacation time. You'll be healthier, too!

3 Reasons Why Every Business Needs A Newsletter

2010-10-15T22:13:00.000-07:00

There are many benefits you and your business can reap from publishing your own newsletter.

1. Keeping In Touch -- Your customers and clients are the lifeblood of your business. What better way to stay in touch with your existing customers than through a newsletter? A newsletter allows you to add personal touches to your relationship and celebrate milestones, both your own and your client's. In addition to furthering your relationship with your clients, a newsletter can also allow you to introduce new products, offer special sales or discounts to your existing client base, and encourage referrals.

2. Hook In New Customers -- Unless they have an immediate need or came to you through a powerful referral, most potential customers won't buy right away. Often they will shop around and compare which means you will likely never see them again. However if you have a free newsletter that offers interested clients the opportunity to learn more about you, your business, and your products for free and they can also learn more about your interaction with your existing customers. A newsletter can be a very simple strategy to turn a one-time visitor into a lifetime customer.

3. Establish Your Expertise -- No one knows more about your business than you do which makes you an expert. Likely the construction of your own business has further left you with a great deal of expertise in your field. Share your nuggets of knowledge through your newsletter to deepen your relationship with your existing customers and convince potential customers that you are the answer to their problems.

Now that I have convinced you that you need to publish your own newsletter, I want to go over a few questions that budding editors and publishers always ask.

What exactly is an electronic newsletter?

Just like their paper counterparts, electronic newsletters deliver written messages usually relating to a common theme or topic. The main difference is that an electronic newsletter transcends paper and ink and most likely only ever exists on a computer screen.

Some electronic newsletter are delivered only via email while others are delivered only on the web. Most are delivered in some combination of the two. Most of my ezines and newsletters are delivered via email but also available immediately via web page (or rather blog page) and RSS feed.

You can choose the method is most suited to you and your audience.

How do you publish an electronic newsletter?

It is much easier to start publication of your own electronic newsletter than it is to start up a print publication. You simply need to decide on a topic, name your publication and start writing. It is easy to find an audience (beyond your own customer base if you choose) through the various ezine and newsletter directories around the internet as well as going directly to the source, for example discussion boards for people interested in your topic.

You will need to determine a delivery method, which means most likely setting up your own web site or page on your existing web site; creating an archive for your issues once they are created, which could mean setting up a blog; and tracking your readers, which likely means setting up a mailing or autoresponder service. However you can use free tools to do any of these things.

Puerto Rico Convention Center

2010-10-15T14:02:00.000-07:00

Puerto Rico has various venues for different types of activities and events. However, if you are planning on creating a top of the line convention these is no doubt that the Puerto Rico Convention Center is the best way to go.

The Convention Center is located in historic district of Miramar in San Juan and was inaugurated on November 2005. The convention center is owned by the Puerto Rico Convention District Authority, and managed by SMG. Designed by TvDesign, it is the largest convention center in the Caribbean and the most technologically advanced in Latin America.

I had the opportunity to talk with Melissa Figueroa, Assistant Coordinator of the Convention Center and she was able to offer us more insight on their services and the facilities.

PR Dive In- The convention center is relatively new, has it gained the popularity you expected on the production of conventions and events.

M. Figueroa – Definitely! The convention center opened its door on 2005 and we have been able to create numerous conventions and events since it’s opening. We also have been the home to various graduation ceremonies and nightlife events for big local companies like Medalla. We also have our calendar full with Expos of different industries.

PR Dive In – The convention center is known as the largest convention center in the Caribbean, how many people can the center accommodate? Click Here to see the Convention Center’s Floor Plan.

M.Figueroa - The convention center is able to accommodate groups of up to 25,000 people with a total space of 580,000 square feet and 152,700 sq ft of total exhibit space subdivided into three halls, all on one level. The center has adjacent parking lots with a total capacity of 1,800 vehicles, although this may be increased in the future.

PR Dive In - The convention center is located in a very centric location, What surrounding facilities can people enjoy while having an event on the Convention Center?

M.Figueroa- We are located in the PRCC District that includes a Sheraton Hotel footsteps away from the center. Also we have Ficus Café, a “side walk café” that offers nightlife entertainment. As I mention before we are practically starting developing more recreational areas surrounding the center. The PRCC plans to include a 96-unit residential building, office buildings with 50,000 feet of commercial space, a retail and entertainment complex, a cinema, waterfront cafes, restaurants and walkways. Most of these are still under construction.

PR Dive In – For those interested more on your services and facilities, whom can they contact?

M. Figueroa - You can visit our official website Puerto Rico Convention Center or calling our offices to (787) 641-PRCC (7722) or send us an email to info@prconvention.com

Big thanks to Ms. Figueroa and keep visiting because PR Dive will continue to keep posting more services and opportunities in this venue.

ENJOY!

Choosing A Name For Your Company... That Makes Sense...

2010-10-15T08:45:00.000-07:00

One of the most important things your company needs is a name. Your name will be the very first thing that almost all of your customers see from you -- long before they meet you, they'll have responded to something (or someone) that told them the name of your business.

So What?

So, if you're planning on running a professional operation, don't call it 'A1 Supplies' just because you want to be listed first in the phone book. You have to pick a name that says something about you and your business, and that people in your target market will be able to say without feeling stupid.

The Professional Name.

If you're running a serious business targeted at other businesspeople, you'll probably want to keep the name sober, but memorable. A good formula is your surname, followed by what you do: 'Smithfield Tailoring', or 'Watson Engineering'. You might also want to add the name of the town where you live: 'Watson Engineering Anytown'. Little things can make a big difference: 'Watson & Associates Engineering' or 'Watson Engineering Co.' both sound quite good, for example. Don't use your first name, though -- it sounds terribly amateurish. Would you rather deal with Ted's Office Supplies or the Johansson Office Supplies Co.?

Another approach is to leave out your name altogether, and simply become 'Anytown Engineers' or 'The Anytown Engineering Co.'. This makes you sound like the first choice locally, especially if your main competitor has the name of another town nearby in their name.

The Corporate Name.

They sound quite bad, I reckon, but there's a still a place for them -- mainly if you want to deal with the big companies that this kind of name appeals to. Simply think of a word to describe your business and translate it into Latin. Then add the word "Consulting", if you want.

The Trendy Name.

If you're going for a more young or technology-savvy market, you might want a less formal name. Names of this form should be kept to one word, and preferably written in lowercase, URL-style. Another common trick is to make '.com' part of the name. Notice the difference between 'Fun House' and 'funhouse.com' -- the Fun House doesn't sound all that much fun, does it?

The Playful Name.

You'll be surprised how many people will love your name if you just decide to name it after an animal, and use that animal in your logo too. If you don't have much of a marketing budget, this is a good way to get a quick brand identity -- if you choose the panda, for example, then people start associating you with pandas, and you can have panda-pattern designs on your stationery and decorate your office with bamboo. Don't underestimate the power of this, seriously.

The Shortened Name.

One naming method that seems to be especially well-used by the big hitters is to take two words that describe your business, shorten them both, and make it one word. So you end up with Fedex (Federal Express), or Microsoft (Microcomputer Software). This is good for suggesting what you do without having an overly lengthy name.

The Random Name.

If all else fails, a great way to make up a name is to just string together sounds that you like until you come up with a made-up word. This can be a surprisingly good way to come up with a name -- and it will be completely unique.

Make It Easy.

Whatever you do, though, make sure your business' name is easy to pronounce and spell. If your surname is hard to say, don't use it. If people seem to have trouble spelling a made-up word, come up with something easier. You'll lose out on an enormous amount of word-of-mouth business if people have to write your name down just to communicate it to each other.

Check for Others.

Once you've got some ideas, make sure you check that no-one else is already using them. It will be expensive to get halfway through starting up a company only to find that the name you wanted is already taken. Also, you'll have trouble establishing any kind of Internet prescence with an over-used name, if that was part of your plan -- if your name is too common, you won't stand a chance of getting yourname .com.

Acquire New Business

2010-10-15T02:44:00.000-07:00

A major part of keeping profitable and growing your business is maintaining a focus on business development. Even when you've got the right mix of work, clients and employees you should be looking for new opportunities. You could establish a process to do this whilst ensuring your existing customers don't get neglected. The process helps you manage new business opportunities in a cost- and time-effective manner.
Generate leads
Identify the types of companies you want to work with and a realistic number of companies you want to target over a given period of time. For example: an accountant with experience in the marketing industry might decide to target five opportunities per month focussed on marketing consultancies.
Finding potential clients and identifying new opportunities can be done through networking events, tenders listed in newspapers and industry magazines and headlines in newspapers about new projects and industry seminars. Keep an eye on your industry and stay aware of new developments.
Track the companies you approach in a database ( you could use Microsoft Excel or Access). Tracking should cover the obvious things (company contact details etc) as well as details of what was discussed, potential works, actions and more.
Qualify the leads
Once you have a list of identified companies you must review to ensure they are realistic opportunities. Some areas to think about include:
• Do you have the right contacts to get started?

• Do you have the right services to offer them?
• How can their website help you understand them better?
• Do you have any conflicts of interest in pursuing this company?
• Does this client have growth potential or would it be a quick job?
• Who makes the decisions? How can you reach them?
3. Raise your business profile
By raising your company profile (no matter how small you are) you'll be able to generate new business with less effort. As a leader in the industry new business will come to you. There are many ways to raise your profile; you could try sponsoring events, adverts and gaining media coverage. The size, location and target market of your business this will dictate what medium to use and the areas to cover.
4. Show them what you're made of
Start to reach your qualified opportunities by showcasing your company's products. Send them a brochure or a copy of any newsletters you produce and invite them to join; show off examples of your work; highlight relevant media articles.
Develop standard template letters in Word to send to potential clients to accompany your credentials/brochures. Ensure you link to your database (Excel, Access or Outlook) when merging the letters and envelopes to ensure you don't have to re-enter details.
There is no specified time for this courting so be patient. It could be six months before anything comes to fruition.
5. Set a meeting time
So you're in the door. Now you need to sell yourself. Tailor the meeting to suit the way you operate as a business. It could be a formal PowerPoint presentation or a discussion over coffee. You may have no choice for the style of the meeting but make sure you are comfortable and well prepared. During the meeting be sure to demonstrate the knowledge you have developed in the previous stages.
6. Follow up
You've presented your capabilities and ideas. Don't stop there. Follow up is essential. This is a major part of the process and should be taken as seriously as the other steps. You'll probably be able to build on ideas from the meeting, or you might find an interesting/relevant article or statistics you could send to re-open discussion. Even if you don't have anything to send, thank them for the opportunity.