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You’re home on the range, and in front of the range, brewing that cup of coffee and doing a lot of thinking. You’re wondering if you can make money from home in your own business. The answer is, yes, you can. If you want to make money from home there are plenty of ways to do it. The key is to find something you love to do, that others find of value, and then provide it.
You have to enjoy what you do or else it will show in the way you present your business. Being unenthusiastic about your product or service, means your advertising and promotions will reflect that attitude. So will any face-to-face talking you do about your business. You will not make money from home if the work does not inspire you. You will begin to avoid doing the work necessary and ultimately fail. Choose something you love and instill your love for it into all your work, and dealings with customers.
To make money from home you need to fill a want or need in the marketplace. Do you love to cook or bake? Do you have a unique product, maybe an old family recipe that everyone loves and you know would sell? Why not set up a business to make money from home by supplying this food product to small food stores. It could be that to-die-for chocolate fudge recipe of your grandmother’s. It could be Uncle Harold’s family-famous barbecue sauce. The public may well eat these products up if you offered it to them. There’s your way to make money from home. You are doing something you love and you will do it with passion.
When it comes to your own home business you need to make sure, you continually innovate. All the big companies are always coming out with “new and improved”. You can make money from home when you offer a product, and then offer variations of the product down the road. Take that chocolate fudge recipe from Grandma. You are selling lots of product. You are receiving inquiries about maple fudge. There, you can add a new product to your home based business. Now you can capture the “I’m allergic to chocolate” market while still keeping your existing sales. You can make money from home, and more of it, when you respond to your customers’ wants and needs.
To make money from a home based business you will want to offer exemplary customer service. Working from home, for yourself, means you can give your own unique brand of personalized service. You do not have to tow the company line and use “corporate speak”. You can connect with your customers through your personality not constrained by a corporation’s policy. That’s often why people love dealing with small family businesses, the uniqueness of the proprietor shines through. Again, when you love what you’re doing, you’re exuberance and passion for your work will shine through. That is a great driver of sales. That alone can help you make money from home consistently.
The number one way to make money from home is to “work” when you are at home. It’s very easy to procrastinate and do other things when you work at home. Of course, that garage does need cleaning out, and yes, it’s about time you rearranged your DVD library. Just make sure you schedule your moneymaking activities first. If you are going to work from home to earn a living, then working has to be your priority. Schedule everything else for “after work” hours.
You can make money from home when you treat your home based business like any other business. When you fill a market need, innovate, give great customer service, and put the time in, you will succeed. Bring the efficiency mindset of the corporate culture into your home based business then season it with your individuality. Your business will be productive but uniquely “you.” When that happens, you will make money from home, for a long time to come. surveys
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The sales presentation is your best opportunity to show and tell, but there’s more to it than just showing and telling. You also need to think strategically about the customers buying process and needs, your competitors’ offerings, and why your solution is best.
To plan and deliver winning sales presentations, try the following approach:
Find out in advance how much time you will have.
Have you ever had a key decision-maker leave in the middle of your presentation because he was out of time? You can’t hold someone’s attention when he’s looking at the clock.
At the beginning of the meeting, ask how much time the prospect has set aside, then adjust your presentation to take no more than 60% of the allotted time. Why only 60%? Because your prospect’s decisions to act typically occur at the end of the meeting. Adjusting your presentation will allow enough time to resolve any remaining issues, and reach an agreement. This is one key skill learned through sales management training.
Check in.
Another good question to ask at the beginning of every sales presentation is, “since the last time we met, has anything changed?” If your competitor gave a presentation yesterday afternoon you may have a few new hurdles you need to overcome. The sooner you identify those hurdles, the more time you have to plan a response.
Take his temperature.
The next question you want to ask is, “Where are you in your decision process?” If he tells me he’s scheduled presentations with three suppliers and I’m the first presenter, I know the chances of this prospect agreeing to a decision at the end of my presentation are virtually nonexistent. For starters, it would take the prospect more time, energy and stress to cancel the appointments than to go ahead with them.
More importantly, the prospect wants to hear all three presentations, because from your customer’s perspective, comparison is necessary to recognize value. Never go for the close when you are the first presenter. You’re simply asking for something that you can’t get, and customers will think you’re pushy. Instead, come up with a legitimate reason to come back after the other presentations, when the prospect likely will be in a position to make a decision.
Try to be the last presenter.
The last presenter has a significant advantage, because he is closer to the customer’s point of decision. If I am the final supplier to present, and have shown why am I am the best choice, it’s only reasonable to ask for a commitment to buy. It also creates an opportunity to address any lingering concerns that may prevent a sale. Just by being the last presenter you will increase your sales performance substantially.
In one of the largest sales opportunities I ever worked on, I was the third of three presenters to a committee of seven decision-makers, the most senior of whom was the Executive Vice President, I’ll call him Mr. Burns.
Ten minutes before the conclusion of my presentation, the phone rang. Mr. Burns had a plane to catch, and his cab had arrived. As he stood up, I said, “Mr. Burns, before you leave, may I ask you one final question?”
I asked, “Now that you’ve evaluated all the options, is there any reason why my solution is not your best option?”
He paused, then said “Yep!” And out came his final concern about my solution. It was a concern I was ready for, but I never got a chance to respond because his comment triggered a firestorm of conversation around the conference table. Mr. Burns missed his cab, but several other decision makers drove him to the airport so they could continue their discussion.
A few weeks later, I learned that in the car on the way to the airport, a lower-level decision-maker had resolved Mr. Burns’s concern, and I won the sale.
This example shows that today, as much as 90% of the sale takes place without you being in the room. So it’s essential to make sure that the prospects championing your cause have the tools to sell other decision makers for you.
Start with a quick review of the customer’s goals and objectives. On a flipchart, list each of the customers buying criteria. This list is your outline for effective sales presentation. Next, show how your solution meets and exceeds each customer criterion.
Throughout your presentation, get a reaction from your prospect. For example, after demonstrating a capability you would ask, how would this be an improvement or how would this help. Interactive presentations keep prospects more involved and interested.
Communicate all your unique strengths.
Today’s customers want to know two things: can you do what we need done, and how can you do it better than the other options we are considering? It’s not enough to show that you can meet your customer’s needs. You must also have some reasons why your solution is the customer’s best choice.
To ensure that my strengths are understood, I always prepare a flipchart titled “Why we are your best choice” which lists at least three reasons why I’m the customer’s best option. Often, I list seven or eight reasons. The more reasons you have, and the more compelling those reasons are, the better your chances of winning the sale.
In sports, when two teams are evenly matched, the winner is the team that makes the fewest mistakes, and executes its plays the best.
To deliver a winning sales presentation, you must do the same. When you implement these 10 tips in your sales presentations, you will win more sales. To learn more great sales techniques, you should attend a sales course.
If you’re like me then I am sure you have had enough of doing the same old routine and dragging yourself bright and early out of bed to go to your mundane 9 to 5 job. This is no way to live really. There comes a point in everyone’s life that we begin to feel this way.
The main difference we see in people who are unhappy with their current place of employment, is that there are those that will settle and think to themselves, “well it won’t get better than this” versus those who are not content with where they are or what they are doing and actually choose to take the risk, making the conscious decision to make a change and take action.
With everything moving to the online now days you can find the right internet jobs from home that can either put some extra cash in your wallet, or ultimately turn into a fully-fledged successful business that you can commit to on full-time basis.
There are so many people all over the world making a living from their online businesses. This being said, it is sometimes surprising to know that so many other people have yet to take up this low-cost, low-risk business opportunity. Internet jobs from home are only going to grow and get bigger. Why is this? It’s because the more the online market grows, the more consumers there will be, which effectively will mean more products that will be able to be sold. The internet is without a doubt the world’s biggest retail store, the only difference is that you can buy anything from the comfort of your living room.
Some opportunities that exist from internet jobs from home can create multiple streams of income that with time can work for you and all you need to do is sit back and watch the dollars pour in. It does sound simple, and that is because it is, but to make internet jobs from home really work takes a little more knowledge and of course, some hard work.
Researching the right products and services that are available for your business is essential and must not be overlooked. For me, the areas that appealed to me most were internet media advertising and affiliate marketing.
Internet media advertising is the different mediums that exist online, ranging from video viral marketing to blogging and much more. Affiliate marketing is where companies (the merchant) pay people like us (affiliates) a percentage of the sale that is performed through referrals. An example of this can be as simple as a sale of a ringtone download. The affiliate would promote the ringtone service on their website, blog, article or any other form of internet media advertising method, then provide a link that will have their referral code embedded within the link. Once the consumer has made their purchase, the supplier will transfer a percentage of the total sale price. Both Internet Media Advertising and Affiliate Marketing go hand-in-hand.
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QUESTION:
I recently launched a website for my sporting goods business. Do I need to do anything special to attract customers to my website? I know nothing about search engines and marketing as such. Please tell me where to begin. — Sean M.
ANSWER:
Sean, that is a question that has been asked by every business person who has ever launched a website. If I build it, will they come? Of course they will — if you?ve built a website that appeals to dead baseball players.
For those of you who didn?t get the ?Field of Dreams? reference, let me put it this way: No, Sean, if you build it they will not come, at least not without some effort on your part.
Assuming that a website will automatically attract customers is the single biggest mistake that many business owners make. It is this mistake that eventually leads them to dismiss their website as a failure and abandon their online sales efforts.
I can?t tell you how many times I?ve heard a client say, ?Well, I threw up a website, but nobody ever came to it and I didn?t sell a single thing from it! Dang thing was a waste of time, if you ask me ??
Forgive me, but ?threw up? is the operative term there. These short-sighted entrepreneurs (God love them) mistakenly think that all they have to do is throw up a website and that their business will automatically double overnight. And when nothing happens they blame it on the infallibility of the Internet, on El Nino, on the Bosa Nova, on their customers? everything but their own lack of marketing efforts.
If you build it, will they come? That, Sean, depends totally on you.
When it comes to attracting customers, opening an online business (or an online branch of an existing business) is no different from opening a traditional brick and mortar shop. Without a little fanfare and a well-devised marketing plan, chances are your website will become just another spot of roadkill on the Information Superhighway.
The first step in devising your marketing plan is to ask yourself this question: Who is my customer? Who is it that I want to attract to my website? Believe it or not, this is a question many entrepreneurs fail to ask. The identity of your customer is incredibly important because if you don?t know who your customer is, how can you expect to market to them?
The next question concerns the locality of your customer. Do you want to attract a local or global clientele to your website? If the answer is local, then you will gear your marketing efforts toward customers in your own backyard, which means incorporating your website launch with your offline marketing efforts.
If the website is the online branch of a brick and mortar business, include the website URL in all your print materials and advertising campaigns. Consider running ads in the local paper, on radio or TV announcing the launch of your site. Use direct mail or in-store posters to announce the site launch to your existing customer base. In short, keep doing what you?re doing to attract customers to your physical store, just add your website address to the mix.
Just remember, it?s important to consider your website a branch of your brick and mortar business because that?s exactly what it is. A good business website will help you sell more products, widen your range of clientele, and increase your revenue without adding overhead. Don?t sell your website short. Make it work for you.
If you are seeking a global audience, your marketing efforts will be quite different. Attracting customers from around the world is a more difficult task than attracting customers from around the block. Fortunately, the task is not impossible. The Internet has leveled the playing field in many ways. Now every business, no matter how large or small, has the ability to do business internationally.
In the most basic sense, an online marketing campaign to attract global customers should include the following efforts.
Register With Search Engines
There?s not enough room in this newspaper for a thorough discussion of search engines and their effectiveness (or lack thereof) in driving traffic to a website. Suffice it to say that 95% of search engine traffic comes from Google and Yahoo, so start there. It?s also important to realize that just registering with search engines does not guarantee you traffic, but it certainly can?t hurt.
Unfortunately, the free search engine lunch ran out a couple of years ago when search engines figured out that people would actually pay for listings and higher placement. Since that time the only way to guarantee a high (or at least higher than others) ranking is to pay for it. The two most popular pay-for-placement programs are Yahoo?s ?Yahoo Express? and Google?s ?Adwords.? Visit their respective websites for details on these programs. Be prepared to spend several hundred dollars at a minimum to get your site listed.
Exchange Links With Similar Sites
One free ? and potentially effective – way to drive customers to your website is through link exchanges with sites of similar interest. Locate sites that make a good match to your own and contact the owner to ask if they will link to your site in exchange for you linking to theirs. If you sell golf balls on your website, set up a link exchange with another website that sells golf clubs. You post a link to them and they post a link to you. It?s called digital back scratching, and if done properly, can work well to drive traffic your way.
Go To Where The Customers Are
If the mountain won?t come to Mohammed, then Mohammed must go to the mountain. One little known way to attract customers to your website is to market your products on a mega-site like eBay. There are thousands and thousands of people on eBay at any given time and each one is potentially your customer, so it’s a great place to drum up business. Your goal is not to make a living selling on eBay, but to use eBay as a marketing tool to drive traffic back to your website. Go to where the customers are, then bring them back home with you.
Let?s use our golf ball example. Post a few auctions on eBay selling your golf balls at a ridiculously low price so your auction attracts plenty of attention. When customers make a purchase, add them to your client list and send them an email inviting them to visit your website for more great products. eBay also lets you create your own ?About Me? page that you can use to advertise your business.
We have just scratched the surface, but hopefully this is enough to get you started. I wish I could tell you that attracting customers to your website is easy, but the truth is, it’s anything but. It takes hard work, creativity and above all, perseverance.
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Selling on eBay is maybe one of the best methods to start a web business, but most of the people don’t know what they can sell or where to find supplies.
The subsequent problem many individuals have is getting their items correctly packed and shipped. They each like to sell on eBay for some additional money. Since he is getting the majority of his items by going to garage sales, he is getting up early Sat.
morning, grabs a coffee and rushes out to his lorry and drives from one garage sale to the following, just like he’s been doing for the last two Saturdays. Ben was excited as he drove home contemplating the enormous profit he would make selling it on eBay.
As quickly as he got home he commenced taking photos with his electronic camera till he ultimately got an ideal quality photograph. Ben then uploaded the photograph to his PC.
It was late when Ben ultimately got his knife on eBay and prepared to sell. Now, he had to punctiliously package the knife with the buyers correct shipping address and take it to the post office, in the meantime, getting stuck in the rush hour traffic. Ben is pissed off but after a long wait he is getting his item off with a pleasant $71. But does not that sound like lots of work and hassle? Jason sleeps so long as he wants, which is generally around 11:30 on Saturdays. He is getting up and prepares a pleasant pot of coffee and taking it, goes into the livig room to observe some cartoons with the children.
When the show is over he is getting on the Net with another cup of hot coffee and logs onto his eBay Wholesale Providers – Drop ship Account and reveals some products that are hot on the market. He decides on portable with a great reduced price of $549 which was his wholesale cost. But wait Jason does not also have to pay for this till it is sold. Jason is now prepared to launch his eBay auction.
His wholesale provider has many of these computers available.
So Jason decides to list five on the dutch auction. Ebay’s Dutch Auction permits you to sell as many of one item as you like, so Jason hits the Dutch auction button and his sale is launched for five PCs.
That is it, now Jason goes and relaxes with his ( still hot ) cup of coffee. At the end of a seven day waiting period, at which time the sale has stopped, Jason has sold all five computers for $825 each. This is all Jason has to do : After his five consumers have sent their payments to his paypal account, he sends the addresses of the five consumers with payment of $549 x five = $2745. Jason has now finished his job which took him about half an hour of his time and leaving him with a pure $1380 profit. Jasons Wholesale Provider will ship the computers to the purchasers. It is clear that using wholesale providers who will also dropship would be one secret to success as an ebay seller.
Having a pro site for your ebay auctions is much the same as a card. Your ebay auction site will show your visitors everything you have to supply and they can see that you have high quality products. It’s going to be worth your time to be told how to be a pro ebay seller, because if your listing looks appealing and pro it will trap your visitors to remain on your internet site longer which will end in more bids and a higher price which = more profits. I am sure you’ve heard that before, but it’s a terribly vital part of your success as an ebay seller. Better yet is to send them a free digital product in relation to their purchase as a “thank you”. This could make them need to purchase from you again rather than purchasing from somebody new.
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They Do Exist – Moms Who Work From Home
By [http://ezinearticles.com/?expert=Allie_James]Allie James
Are you a mom that has been considering working from home but not sure about the legitimacy behind trying to do so? Well let me be the first to tell you that moms who work from home do exist and I am living proof of it. In this article I will go over a few stay at home jobs for moms that any mom who is serious about working from home can do so. I understand that that there are different reasons for mothers wanting to work from home. Maybe it’s because they want to bring in a little extra income to help with the family expenses. Maybe she’s a single parent that is looking to make a full time income from home. Maybe she just wants to try something new while earning some cash at the same time. No matter what the scenario is if you are a mom you can make some money working from home.
Become A Virtual Assistant – This is a very popular work at home opportunity for moms. The idea here is that a mom can work for companies that need certain tasks done via the internet or telephone. There are a lot of these type jobs out there but you should know that there is a significant amount of competition when it comes to these jobs but these jobs are by no means impossible to get. Any type of office or customer service experience will be a nice asset to have when applying for these jobs. To find these types of jobs just do a Google search for “virtual assistant jobs”.
Take Online Surveys – Even though this isn’t a way to bring in thousands of dollars a month. Taking paid surveys online can bring in some extra cash. The trick to making money by taking surveys is to sign up with as many paid survey sites as you can. The more companies that you sign up with the more paid opportunities you will receive. You also want to make sure that the survey companies that you register with do pay cash not just sweepstakes entries.
Start Your Own Internet Business – This is the route that I personally took and enjoy. Many moms who want to work from home may be intimidated by owning there own business, but believe me it can be done. Many moms has started very lucrative internet businesses in under a years time. The thing is having an idea and running with it. You would be surprised if you knew how some of your favorite hobbies or skills could be turned into a money making internet business.
Allie Is A Work From Home Mom Who Loves What She Does. If You Would Like Some Great Information On How To Start Your Own Money Making Internet Business Go To http://SiteBuildItBizz.wordpress.com
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If you work for a publicly traded company, there are simple yet effective steps you and your investor relations director can take now to dramatically increase your company?s exposure and attractiveness to investors thus bolstering share value and shareholder support. These are simple, yet proven strategies for gaining and maintaining a loyal and ever-increasing investor following. Read ?em and reap.
[1] Stay One Step Ahead of your Investors ? Provide accurate and timely information about your Company
How do most investors tell a good stock from a bad one? They don?t?it tells them. It tells them by its trading activity, volume, chart history, etc. But most importantly, it tells them at the click of a button: “View Latest Headlines”.
In fact, do that right now. Go online (where most investors conduct their due diligence and make their trading decisions) and view your company?s last five press releases just as an average investor would. Based on what you see, is your company?s stock a buy?
If you recently repainted the building; that?s great! Brag about it at the next office party. But if your company just signed a multi-million dollar global distribution deal— spend the few hundred dollars on the press release. Better yet?try dividing that one big PR into three or four smaller PR?s. When it comes to substantive positive news, quantity is better than quality, also known as the Shotgun Effect. When the news is not particularly flattering or general housekeeping stuff, the reverse is true; keep those announcements few and far between if possible.
Also keep your company?s website current. Be sure all recent press releases are reflected on your company?s website and the information is updated quarterly. If your company is not growing or changing enough quarter by quarter, somebody is not doing their job. (For help with your website IR section or shareholder awareness campaigns, try contacting the people at www.EvergreenMarketingInc.com.
[2] The Whispers of Happy Shareholders can be Deafening
Word of mouth is still the best advertising there is. If you get the chance to speak directly to any of your shareholders try asking them how they first heard about your company. The answer will most likely be, “from a fellow investor”. There are people out there right now who know enough about your company to recommend it to everyone they know?.or not. They?re called shareholders. The key is keeping that army of voices well supplied with a steady stream of good news to spread.
Remember, your shareholders can promote and discuss your company and its investment potential in ways and places that you legally cannot. In this Internet / information age, you, as an executive of a publicly traded company, are one of the few who do not have total freedom of speech. Those shareholders are your not-so-silent majority out there for (or against) you on the World Wide Web, 24/7 in places you probably don?t even know exist.
If you really want shareholders to get excited enough about your company to tell everyone they know about it, try getting one of them on the phone sometime or sending a personal email; even if it?s just to say hello and thank them for their support. Speaking directly to the CEO of a company they own stock in is like talking to the Governor to some investors. I?ve seen it. More importantly, I?ve heard about it.
[3] The Hungry Cat Makes the Best Hunter
If a tree falls in the woods and there?s no one there to hear it, does it still make a sound? Who cares! But if your company releases positive news and there?s no one there to hear it, someone will care; your shareholders.
Nothing discourages current shareholders (as well as potential future ones) more than seeing a stock end the session with little or no increase in share price or volume on a day when positive news is released. Sure, the wire services are global, but more than likely, it will only be your existing shareholders who will be watching for and (hopefully) reading your company?s press releases.
As we discussed earlier, the best way to attract future shareholders is by utilizing current shareholders to help do the “hunting”. Think about this; if every one of your shareholders fully understood and believed that if there were twice as many of them, the share price might be twice the price it is now. You must keep your army of shareholders constantly growing if for no other reason than the fact that all of your current shareholders will eventually sell your stock and move on?it?s only a question of when.
[4] Get Organized. Get Ready. Get Going!
All eyes in the room are on you. “Okay Boss, what?s the plan?” And then you answer?.
Your corporate plan to increase shareholder support and awareness is like a roadmap that details the fastest and shortest route to your destination. Planning the trip is the easy part. Getting everyone else on board for the ride may take some work. That “work” starts with everyone knowing what their specific duties are and the most effective way of carrying them out.
This leads us to; “Get Going!” Activity creates productivity and productivity creates new shareholders, as well as helps keep existing ones. You should put together a 30 to 60 day calendar that outlines your shareholder awareness program. You should be able to identify specific developments that should take place during each week.
In the beginning, be sure to avoid the getting ready to get ready trap. Once you have the bulk of your operation and team in place, get them started. Don?t get too discouraged if your early results are less than hoped for. This type of undertaking is more like running a marathon than a sprint. It may take a few small steps at first to get your operation up and running for the long haul.
[5] You Cannot Expect What You Are Not Willing to Inspect
Delegation does not equal leadership. You need to stay updated from those actually implementing your shareholder awareness and support programs. What they do right and what they do wrong will determine the success of your program. Your management (and inspection) of the program and those implementing it are key factors in achieving your goals.
I?m sorry to say the bulk of investor relations duties are often viewed as a necessary evil. However, if you want your stock to reflect a strong market capitalization you need to be willing to go the extra mile. On behalf of your shareholders, take charge of your investor relations program then let everyone involved know exactly what is expected of them.
These simple yet effective steps will have a huge impact on how current shareholders as well as future investors view your efforts to gain their support by first supporting them. Leadership is easy?.if you?re willing to assume it.
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In recent years we’ve seen a HUGE increase in the number of small businesses owned by women. This growth has been so dramatic that millions of people now think of a woman when they visualize who owns the businesses they buy from.
Women everywhere deserve a big pat on the back for this amazing accomplishment. But as is always the case for small business owners, there is still a lot of work to be done.
The one thing your small business MUST have is a web site. Sure, ten years ago having a site was an option many small businesses could do without. But that is no longer the case. Here’s why:
* These days consumers and business leaders are more likely to use search engines than the Yellow Pages. They’ll type the name of your town and your type of business into Google and start their research from there.
* A web site lets you put as MUCH information as you want in a public forum. You no longer have to pay thousands for a big newspaper ad just to let customers know about your prices, new services, or show photos of what you do. Now you can keep all that information available on your web site 24/7 at little or no cost.
* You know as well as I do that most customers are a little shy about asking questions. Often they don’t even want you to know they’re interested until AFTER they have learned more about your product, service, or idea. A web site allows that vast number of potential customers to privately and anonymously read all about your business. Then, when they’re ready to buy, they’ll come forward with their questions and orders. This is a MUCH more efficient way to do business, which leads to my next point.
* Web based business operations can be EXTREMELY EFFICIENT. Customers often prefer convenient email over phone or in-person visits. Email encourages customers to organize their ideas, contacting you when they know what they want and are ready to act. You’ll find your web site generates many more customers and the customers you get are better organized.
Women everywhere deserve a big pat on the back for this amazing accomplishment. But as is always the case for small business owners, there is still a lot of work to be done.
* Finally, women love to buy from women-owned businesses. Women, as a group, tend to be less compulsive shopper than men. While a large segment of men will buy an item on impulse, the vast majority of women prefer to learn about your product or service, getting all the details they can before placing an order. Web sites are perfect for presenting a lot of information at very little cost.
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Regardless of the type of business you conduct, there is a significant risk of being sued in our litigious society. Lawsuits can range from claims of negligence to defective products to disputes with employees. Incorporating is a means of guarding against these potential threats.
Single Incorporation – Protecting Your Personal Assets
Incorporating your business is a method for creating a legal wall between your personal assets and business. Any judgment against your business will not impact your personal assets. While your home, savings, stocks, etc., are protected, what happens to your business? If a judgment is rendered against your business, the business assets are as good as gone. This doesn?t have to be the case.
Double Incorporation Strategy – Protect Your Business Assets
Many businesses can benefit from pursuing a double incorporation strategy. The strategy is designed to address the situation where a business has significant assets that are exposed to litigation risk. If you incorporate your business, it is all well and good that your personal assets are not at risk. But what if your business has a number of high value assets such as manufacturing machinery, office equipment, popular domain name, custom software or other items? Merely incorporating your business will not protect these assets because they are owned by the business entity. Since a successful lawsuit would result in a judgment against the business entity, all assets of the business could be seized as part of the judgment. In short, you lose your machinery, office equipment, intellectual property or any other item of tangible value. The double incorporation strategy prevents this scenario.
As the name suggests, the double incorporation strategy involves the creation of two business entities. The first is your “at risk” business that interacts with your customers or clients. The second entity, a “holding corporation”, is then created to own the valuable assets of your business. This holding corporation then leases the relevant business assets to your “at risk” entity. If the “at risk” entity is sued, the holding company merely recovers its assets and the plaintiff is forced to settle for pennies on the dollar because the “at risk” entity has few assets. In essence, the plaintiff wins the battle, but loses the war.
Lawsuits can range from claims of negligence to defective products to disputes with employees. Incorporating is a means of guarding against these potential threats. The first is your “at risk” business that interacts with your customers or clients.
Most people know that a business entity can be used to create a protective shield for their personal assets. If your business has high value assets, now you can use this double incorporation strategy to protect those assets as well.
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Fat Loss 4 Idiots
Fat Loss 4 Idiots Review
Fat Loss 4 Idiots Reviews
I don?t know how many times I?ve flipped through the channels and heard Lou Dobbs talking about ?Exporting America.? Now, I know Lou is discussing the political and economic context of American companies outsourcing their jobs overseas. However, this new one-dimensional definition of outsourcing has other implications to some of us in the States.
I am no expert on politics, economics or Lou Dobbs, so I?ll keep my opinions on those subjects to myself. However, what I would like to discuss is the negative connotation that the word ?outsourcing? has taken on in this country.
There are thousands upon thousands of small businesses in this country whose sole survival depends on other companies outsourcing their needs. Just think about it for a moment. How many companies in the service industries only exist to support the needs of other businesses?
Imagine if every company had to act as a fully self-sufficient corporation. They must handle all of their own HR issues?no more employment agencies, payroll companies, etc. They must employ a full-fledged IT department to handle all of their own web design, networking, software and database designs. Each enterprise has to have enough administrative assistants, data entry specialists, desktop publishing experts, marketing gurus. The list is endless.
If American companies were to completely eliminate all forms of outsourcing, life as we know it would end!
Now, we all know that this is not what Lou or anybody else who has defined outsourcing as one of the most popular buzz words of the last few years is talking about. I understand that most people know that the business to business outsourcing within America is not a bad thing. Nonetheless, it seems strange to me that one word can take on such a life of its own. It?s really not a new phenomenon, yet it is the first time that I?ve encountered one of these controversial terms in my own ventures.
Let me say that as a business person in a field that is solely based on other businesses looking to my company to meet their needs, I find myself quite often searching for synonyms to outsourcing. Not that there?s anything wrong with it, but when I?m advertising, I?m forever brainstorming for words to replace that one that starts with o and ends with source! After all the talk that?s been spinning around Washington and the rest of the country, it seems that it?s turned into a dirty word.
I?ll keep my opinions on those subjects to myself. However, what I would like to discuss is the negative connotation that the word ?outsourcing? has taken on in this country.
Obviously, most people understand that there are all types of outsourcing. On the other hand, when you?ve got limited time and space are you going to choose a ?hot button? word to describe what you?re selling?
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Fat Loss 4 Idiots
Fat Loss 4 Idiots Review
Fat Loss 4 Idiots Reviews
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