Friday, July 20, 2012

Entrepreneurs: Why They Are So Important And Why We Need Them

Simply put, entrepreneurs are the innovators that stimulate job growth, economic growth and development that allows Americans to compete with and in the global economy. Entrepreneurs are vital to the future of our economy. Entrepreneurs have an attitude and behavior that benefits local communities and advances human welfare.

Who is an entrepreneur?

An entrepreneur is an individual who organizes and operates a business or enterprise, taking on the financial risks to do so.

That may sound simple, but let's take a closer look...

One of the most important things that entrepreneurship provides is employment. The unemployment rate has been at historic levels but recently there has been job growth. We feel that a big part of that job growth is due to the rate of starting small businesses. Entrepreneurs create fresh small and large-scale employment opportunities; as the business grows so do the number of employees. Entrepreneurs significantly reduce the problem of unemployment.

Entrepreneurs have changed the way we live, the way we do things. Their innovations have made life easier and increased the standard of living. Most entrepreneurs start their businesses because they wanted to do something they love, or were inspired by an idea they truly believe in. The positive effects of working in an environment that's important to you paves the way for innovations and advances in technology that increase economic development for our country. And on a much larger scale, when production of these good spreads worldwide, they make us competitors in the global economy.

Entrepreneurship is often called "economic gardening." It's a foundation that can continue to grow and year after year provide wealth to a community. Local communities benefit greatly from small businesses by tapping into existing assets and strengthening it socially and economically. On the whole, entrepreneurship has the potential to increase the wealth of communities.

Entrepreneurship is an exciting venture, and can quite literally change a person's life. There are so many great advantages to taking on such a project. To start a business you need motivation, talent and desire. You also need a strong business plan based on solid research. Entrepreneurs are capable of starting and growing a successful small business with the proper amount of education, hard work and experience.

If you have a business plan and want to become an entrepreneur, we can help you. A lot of important decisions need to be made when starting and nurturing a new business. We will use our education and experience with numerous others just like you to guide you in the formation and growth of your business. The foundation of a business is built on solid contracts and agreements. As business attorneys, we can draft contracts that will help protect your assets and help keep you out of court.

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Wednesday, July 18, 2012

7 Reasons Why Entrepreneurship Development Must Be Massively Supported

Entrepreneurship happens to be a subject I am very passionate about, right from age 15 till date. The challenge of building businesses from scratch, negotiating deals and investing in other people's business thrills me. Since the age of 15, I have been devoted to the lifelong study of entrepreneurship and investing. But even as an experienced entrepreneur, I still look up to my mentors for guidance and inspiration.

Now let's proceed with the business of the day. The word "Entrepreneurship" might sound unimportant or common to your ears, but I will advise you spend a little time on this article and get the tits and bits of what I am about sharing. The word entrepreneurship suggests several meanings and if a poll were to be conducted, I bet we will come up with 101 definitions of the term entrepreneurship.

Now what is entrepreneurship? According to Stevenson, "Entrepreneurship is the process of creating value by pulling together a unique package of resources to exploit an opportunity". It can also be said to be the readiness and skill of either an individual or group of personalities to sniff out investments opportunities, start business ventures and run enterprises successfully. But the definition I find thrilling is still that of Howard Stevenson, a college professor, "entrepreneurship is the pursuit of opportunity without regards to resources currently controlled". I feel this definition is the best so far and I thank my mentor, Robert Kiyosaki, for bringing it to my notice. So if the term entrepreneurship is now clear, then you may ask, "Why stress the need for entrepreneurship development? Well, entrepreneurship development must be massively supported because it has the potential to achieve the following:

1) Create jobs through the formation of new business ventures.

2) Utilize available manpower and resources that might have remain idle and put them into productive use.

3) Entrepreneurship development makes it possible for individuals to create wealth, independence and status for themselves.

4) Stimulates growth in other sectors with increase in demand and supply.

5) Increases productivity by means of innovation.

6) Facilitate and increase the need for technology.

7) Boost the economy and increases the nation's GDP. 8) Entrepreneurship development can reduce dependence on social security and Medicare. With this few points, I hope I have been able to throw more light on the need for individuals to embrace entrepreneurship as a way of life and a means to better the society. Join the entrepreneur's train and I will see you at the top.

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Saturday, July 14, 2012

Minority Grants For Small Businesses

The US Federal Government recognizes the issue of improving disadvantaged people's lives. Their constituents have voted congressmen and senators to power. Their primary election campaigns are based on the promise to minorities for their economic empowerment. t is these promises, which drive the politics of grant giving by Federal and local State governments.
Grants for Small Business:
A grant is a direct financial contribution made by certain organizations to the needy. It is made for very specific outcomes with no expectations of repayment. These grants are based on certain criteria and are designed to encourage entrepreneurs to start or expand their small business ventures. Millions of dollars in the form of small business grants are available for any minority group of Americans. They may be African Americans, Asian Americans, Hispanics, Indian Americans or any other minority.
Minority Grant Programs:
Government minority business grants are listed on all the government grants assistance programs. They allocate funds for lending to minority entrepreneurs, student business training, unemployed, community-based business opportunities, real-estate ventures and investment, research work and inventors, amongst others. A woman entrepreneur or an ethnic minority is entitled to funds specially earmarked for their business development.
Any entrepreneur seeking the fund for any type of business or any personal project must have a viable business plan. They should focus on how well their business would survive independent of these programs. Eventually, your aim should be to build a successful business. Have some sort of maturation plan in place to succeed without minority funds within three to five years. A lot of far-sightedness, hard work and perception of market need of your business are very important. If your business maturation plan is not in place, you are in a great risk of either business failure or being bought out. A good financial opportunity goes waste. So apply for these minority business grants and funding for a great opportunity to start your own venture and improve your social and financial status.
Types of Grants:
Ever since the Federal government has launched this minority grant for small businesses, the minority business has grown four times faster as overall US firms. Since 1992, the increase has been from 2.1 million to 2.8 million firms. These grants can be availed for:
o For initial business start-up, you can avail up to one billion dollars from minority business grants.
o Grants in millions available for expanding the existing business
o Receive $9,000 in minority grants for free legal advice.
o Millions available for purchase of your first home
o Up to $75,000 available from minority grants to remodel your home
o Receive $6,000 in minority grants for college tuition.
o Receive free monthly grant finances for emergency assistance.
o Receive special assistance for woman entrepreneurship program. There are many more listed priorities to receive these grants.
The federal government and local state government Active Affirmative Action has given a big opportunity to minor ethnic communities to start their small businesses. This will lead to their economic empowerment and social integration.

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Sunday, July 8, 2012

Changing Demographics in Entrepreneurship

Over the last 10 years, entrepreneurship has become a growing trend with growing importance within the global marketplace. In fact, according to the Global Entrepreneurship Monitor (GEM), about 330 million people, or 14% of the adults in the 35 countries surveyed, are involved in forming new businesses.
Whether it is the desire to be your own boss, pursue your own ideas or the hope of financial rewards, people are changing their outlook on how to do business. Within the scope of entrepreneurship there are four demographics that are increasing faster than ever.
Women Entrepreneurs
In 2002, the most recent year the U.S. Census Bureau collected business ownership data, there were 6.5 million women-owned businesses. That number is up 20% from 1997. Traditionally, women-owned businesses were most prevalent in the health care and professional services industries. But surprisingly, the fastest growing areas of women-owned businesses are construction (up 30%), agricultural services (up 24%) and transportation (up 20%).
Minority Entrepreneurs
The number of minority-owned businesses has also risen sharply over this same period. Growth in African-American owned businesses is up 45% from 1997 to 2002. Both Asian-owned businesses and Native American-owned businesses have also increased, at a rate of 24%.
Senior Entrepreneurs
Although the U.S. Census Bureau does not specifically collect data on senior-owned businesses, there is strong evidence to suggest more seniors are getting involved in entrepreneurship. This dramatic increase can be attributed to corporate downsizing, growing worries that seniors are going to need more income to cover future health care expenses, and an increasing desire for older workers to obtain personal fulfillment in their lives after retirement.
Young Entrepreneurs
Perhaps the fastest growing demographic of entrepreneurship is young people. According to a Gallup study, 7 out of 10 high school students want to start their own companies. Interest in entrepreneurship is also growing on college campuses. Presently there are 1992 two and four-year colleges that offer at least one course in entrepreneurship. This number is up from just 300 colleges in 1985.
No matter who is starting all these new businesses, entrepreneurship is undoubtedly a growing trend throughout the world. As the economy is struggling and people are getting laid-off, more and more people are realizing the benefits of entrepreneurship. The desire to become a corporate eight to fiver is losing steam, when are you going to jump on board?

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Tuesday, June 19, 2012

Minority Grants For Business

Minority grants are really important for they contribute a lot to the overall progress of national economy. Most of these helpful grants assist in the growth and development of new businesses, and thereby encourage entrepreneurship, to a large extent. Government funded grants for minorities are widely accessible from the Federal ministry. In addition to it, various other grant schemes are available from different state level authorities as well.

If you belong to a minority section of the community, there can be lots of options before you avail of one of these really helpful grants. As an entrepreneur belonging to the minority section, one must avail of these grants specially crafted to cater a lot of help, to the growth of business. A bulk of these grants offered is funded directly by the federal ministry, and some by the state government itself. However, to avail of one of these hugely popular grants, one must go through certain formalities.

Being a first time applicant for minority grants, one must target those specific programs which are focused to be the concerned area. It can just turn out to be the starting point of the business. These grants which are available from the local organizations, need to fulfill certain criteria as well. One must thoroughly go through the requisite application format, before applying for one of these grants.

One of the best and well-known minority grants available to individuals, who have a passion for setting up their own business comes from an organization called "Operation HOPE". Till now, they have aided close to $72 million in minority grants, to business owners and entrepreneurs belonging to minorities. If you reside in Southern California, you can pay a visit to "Operation HOPE". However, if you need to procure information on the available grants, while sitting at a remote location, their website can serve the purpose as well. But in both the circumstances do not forget to check out the eligibility criteria before applying.

Minority grants are meant to encourage entrepreneurship for medium and small scale business groups as well as individuals belonging to the marginalized sections of the population. These Grants not only help to build up the confidence of an individual belonging to minority sections, but also help in overall economic stability.

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Monday, June 11, 2012

Cheap auto insurance: understand your options before you buy

Women entrepreneurs have grown at a rate three times the growth rate for overall U.S. businesses according to the Center for Women's Business Research. Many more young women entrepreneurs are starting their own businesses right out of school. A host of colleges and universities are introducing programs geared to entrepreneurship. Because women are still having trouble reaching the top levels of corporate management they have found a way around the glass ceiling by opening their own companies.

Although traditional lending institutes prefer to lend money to people who get business and management experience before they go into business the advent of the internet has reduced the cost of doing business significantly. The advantage of the internet for small business is that it is fast and relatively inexpensive. If you want to put an ad in a major national magazine it would cost thousands of dollars. You could target an ad to readers of that same national magazine for as little as $50 on the internet. While the preparation time for an ad in the national magazine may be three months in advance, a Google ad is instant. It is hard to track the response with the national magazine. With Google you can start testing quickly.

Women entrepreneurs run into problems growing their business. They are not traveling in the same networking circles or socializing in the same clubs and golf courses as male business owners, so they're not hearing about the opportunities to raise money and to grow their business. Also, women learned how to manage money by the way they manage their household budgets where the only way to increase their disposable money or increase savings was to be frugal. Many have grown their businesses without borrowing.

Women need to change their views about borrowing money to finance growth. Everyone understands borrowing money to finance a car to handle sales calls or other business needs. Borrowing money should be viewed as a vehicle to get from one stage of business to another stage of growth much like a car goes from one sales call to another.

The types of business women are starting continue to be in the service and retail area. Women have trouble proving themselves in industries traditionally dominated by males, such as, construction, manufacturing, farming or other physically labor intense businesses. The hardest part for women is convincing a client to put them on the approved vendor or bid list. To overcome this obstacle women entrepreneurs can join organizations that support women-owned minority businesses such as the WBC (Women's Business Council). These organizations have sponsors that go all out to support minorities as part of their corporate culture and image.

Women entrepreneurs starting their own business need all the help they can get and should not be afraid to ask for it

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Sunday, June 10, 2012

The Hardest Thing For an Entrepreneur

For an entrepreneur the hardest thing to do is to get started. In this final article, Part 3 of three articles, I explain how I have seen others find the same key to entrepreneurship.

As I applied myself to finding, developing if necessary, and selling the software products and services of the software technologies business my wife and I owned I noticed that I was one of a minority. Not many people started their own companies. Entrepreneurs were a minority. They still are. For example I was the only one from my business school class who was self employed. The rest of my MBA class mates had jobs. In almost all respects, except one, my MBA classmates were better off than me. I was paying myself a pittance and ploughing any money that my company made back into hiring new people and buying the associated computing equipment. My classmates had high powered executive jobs and enjoyed good salaries. But there was one thing I could do that my classmates could not do: I could do what I wanted when I wanted even if I had to constrain what I wanted to my very meager, entrepreneurial, financial means.

Little did I know.

After seven years I surpassed my classmates' freedom and income levels. I was semi-retired. Best of all, I would never look back. The the dream I offered people I hired, the people they hired, all were critical factors in entrepreneurial success.

So I found that the second element in the key to successful entrepreneurship is to 'keep going.'

During that seven year period I wondered when financial independence would happen. I never wondered IF it would happen. Long afterwards I learned that both my wife and a key director in our company had been one step away from throwing in the towel in the fifth year of that seven year period. When I found out, I was amazed. My wife and the key director are serious people. They would have been serious when they considered quitting. In retrospect I thought they were extremely fortunate that quitting never occurred to me.

Since then, some of my business school classmates have started their own businesses. One is very successful although his business is predicated on expensively high inventory levels as a method of ensuring good customer service. Each classmate who started a business has had to overcome the hardest thing: getting started.

Over the years I met many aspiring entrepreneurs. One, Mr Graeme Hart, became New Zealand's first billionaire and is now the wealthiest man in New Zealand. Graeme got started early in life. Apparently, in his twenties, with no formal qualifications, Graeme began buying and selling businesses in New Zealand. He kept going; and his experience illustrates the second element in the key to entrepreneurial success.

In 1997 in a colossal blunder that threatened to destroy him, Graeme purchased hundreds of millions of dollars of shares in, Burns Philp, an Australian listed company. It was a dud but this was not evident to Graeme at the time. Despite the naysayers and business media ridicule, Graeme took the chairman's seat in the company and his astute stewardship of the company transformed it into a billion dollar investment. That's why I say the second hardest thing for an entrepreneur is to keep going. After all no-one else is going to keep going on behalf of an entrepreneur.

I have also met aspiring entrepreneurs who were excessively well researched and far too concerned about the adequacy of their capital funding and cash buffers. One entrepreneurial family saved about $NZ60,000. It was start-up capital for a specialised catering business. The family asked me for advice. Should they wait a little longer and save another $20,000 so as to purchase the best catering equipment and sign a lease on big, flashy, premises with wonderful cooking facilities? Or should they get started with their $NZ60,000 grub stake? You can guess what advice I gave: get started today; put your money away; persuade your suppliers to lend you all the equipment and materials; persuade them to advance enough credit so you don't have to use your capital.

The family never came back to me and, to this day, I doubt if they got started.

An extremely entrepreneurial woman asked me for advice about her specialised entertainment and professional services directory business. The woman hired a marketing and sales manager to sell hundreds of copies of the directory. But profitable sales eluded the sales manager. Without sales the business staggered fatally under the overheads and expenses load. The business lacked a pulse; cash flow was negative. If there is one thing I always, somehow, understood from the first day of my company's life, it is that cash flow is the most important objective result in a business. Profits can be zero, customer service can be terrible, and marketing can be non existent, but as long as cash flow is positive then a business will continue to operate. For this reason, I always made it my priority to make, or help make, sales. Without sales, the directory business entrepreneur could not keep going and close-down was inevitable.

Now you know why the hardest thing for an entrepreneur is to get started. And the second hardest thing is to keep going.

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Saturday, May 26, 2012

Why Multilevel Marketing Is Crucial For New Entrepreneurs

Many entrepreneurs are seeking to start their own home biz. A big portion of these new entrepreneurs are destined to fail as they try to run a business aimed with desire and incorrect knowledge. Can MLM Network Marketing opportunities teach us the necessary skills to be the entrepreneur we want to be?

By reading every word in this article, you will learn:

* What exactly is an entrepreneur?

* What are MLM Network Marketing opportunities?

* What can you learn by joining a MLM Network Marketing opportunity?

::: What exactly is an entrepreneur? :::

Entrepreneurs are a different breed of person. And they are different then men and women working at larger, older, hierarchical corporations. Entrepreneurs are generally highly independent, which can cause problems when their businesses succeed.

Entrepreneurs are risk-takers who trust their hunches and act on them. Being a entrepreneur myself, I strongly believe looking at myself that entrepreneurs are largely born rather than made. You have to have a love of starting a venture and taking risks. Entrepreneurs are driven not simply by money but the whole process of creating an idea which exists in the mind, and forming that idea into a profitable venture. A venture is fun, it's an adventure!

Success as an entrepreneur requires not only knowledge, but practice and skill in the process of doing, taking raw action. Many entrepreneurs have a deep fire in there belly, and as entrepreneurs are starting businesses younger, and younger without the proper knowledge, success becomes a very bumpy road.

One thing we are seeing lately is that entrepreneurs are starting businesses younger and younger. Business entrepreneurs are viewed as fundamentally important in the capitalistic society. This is very true as entrepreneurs are willing to do whatever it takes to become successful, they are willing to work 15 hour days 7 days a week without a guarantee of making a dime. Entrepreneurs are always trying to do things better and increase profits. The thing is entrepreneurs are always trying to create new businesses or improve their current businesses. Although entrepreneurs are vital to the economy, as they create wealth and jobs, no-one knows precisely what drives people to become an entrepreneur. For one thing money is one of the least motivators of an entrepreneur.

::: What is Multilevel Marketing? :::
Multilevel Marketing is a system of business which allows people to market the products. In effect you become the salesman for the company. This has the added benefit of cutting out the middleman and putting you in its place. Multilevel Marketing gives you your own ready made business. All without all the hassle of getting big finance and creating lengthy business plans all before seeing a return.

::: What can we learn as being part of a MLM Network Marketing opportunity? :::
Top MLM Network Marketing opportunities give you a proven system, tested. Has people earning 6 figure incomes and gives you the ability to do the same.

With Multilevel Marketing you have low entry costs, and the ability to start fast is very enticing. But heed this warning with Multilevel Marketing and that is because it is very easy to get into Multilevel Marketing, it is also very easy to get out of Multilevel Marketing.

You don't have to write a large business plan with Multilevel Marketing. You also don't need to apply for large loans with Multilevel Marketing. For the entrepreneur Multilevel Marketing can be the greatest thing as they are suddenly around successful people. MLM Network Marketing opportunities give us a platform to start right away and learn the steps necessary to create a successful business.

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Sunday, May 20, 2012

Train to Lead and Lead to Train: The Top Strategy of MLM Network Marketing Leadership

The #1 Strategy of MLM Network Marketing: To Train and Be Trained for Leadership

Multi-level marketing (MLM) leadership training constitutes a vital strategy of network marketing, where the sales force is paid not only for sales they personally generate, but also for the sales of other distributors whom they recruit, creating a downline of agents and a hierarchy of multiple levels of compensation. Independent MLM network marketing associates represent the company that makes the products or provides the services they sell. Their sales commissions are based on the volume of product sold through their own sales efforts as well as that of their downline organization.

Leadership is the raison d'etre of MLM network marketing. The independent associate develops his organization by either building a customer base or by recruiting a downline of other independent associates who also build their own customer bases, thereby expanding the overall organization. Additionally, associates can also earn a profit by retailing products they purchased from the company at wholesale price. Consequently, the MLM network marketing independent associate has several leadership roles and responsibilities:

to prospect(find) and recruit(get) other associates and customers
to build a downline organization of associates in a hierarchical structure, usually designed by the company
to train, guide and inform (build) the downline on various administrative and technical issues about the company products and procedures
to motivate and be a role model of his or her downline as a conscientious and ethical business leader
manage the downline team as a business entity, striving to achieve a smooth and healthy expansion while at the same time providing reciprocal and co-operative support of his upline and the company as a whole
As an independent entrepreneur and also working in a structured network team environment of downlines and uplines, it is important for a mulch-level marketer to understand clearly what it takes to fulfill the above roles and statuses of leadership. Knowledge, integrity, motivation, confidence, strategy and resourcefulness are universally the most important traits an entrepreneurial leader must have. Only by sharing these qualities directly or by example or through enabling your downline to be trained can the MLM distributor achieve the goal of earning a substantial and growing income.

Thus, as a leader the MLM network marketing associate must provide expert knowledge, be a trainer, mentor and motivator and continually role model the leadership status which his downline aspire to. In exchange gets authority and prestige, not to mention higher and higher compensation scaled according to the breath and depth of his downline as well as the quantity and value of sales in his hierarchy.

While it is true that some individuals are "born" entrepreneurs or leaders, it is perfectly possible to acquire these capabilities through learning and training. Leadership training is an essential component of development of MLM network marketing business. This entails not only acquiring new knowledge but, equally importantly, relating familiar facts and experiences differently - from a new angle or with a gainful mind-set - to encourage individuals and the whole hierarchy team. The latter is the main goal of coaching and mentoring. Such training, coaching and mentoring can also be attained through the MLM network marketing associate's own initiative from reading books and journal articles and attending seminars.

It is also the MLM network marketing leadership responsibility to create awareness of the possibilities and opportunities, of tools and methodologies which are most handy in particular circumstances of his down-line.

Online MLM nework marketing leadership training is a core resource and focus of this web-site. We invite you to share and discuss your ideas, tit-bits and experiences on this subject with us.

Working as an independent network marketing agent, John Barasa is in a joint-venture multi-lateral enterprise that focuses on sourcing and developing online lead generation tools. His main goal of blogging is to educate people, new to or struggling with internet business, about the enormous opportunity of web-based MLM network marketing.

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Sunday, April 29, 2012

Empowered Entrepreneur - Becoming a Leader and Building Value Through Knowledge

Another important and critical element of becoming an empowered entrepreneur is your mindset. An empowered entrepreneur must learn to assume the mindset of a true leader. You must become a leader in all aspects and all relationships of your life if you are going to be an empowered entrepreneur. Most of us start as followers. As we study and learn and observe empowered leaders we grow into aspiring leaders. We assume more responsibility and self-reliance. Finally as our knowledge grows and our connection to our inner power increases we step forward as leaders in our own right. It is all mindset and it is real. You cannot fake it. Empowered Entrepreneurs are leaders, not fakers. Spend 10 minutes with an empowered entrepreneur and you'll sense the leadership.

But don't mistake domination and coercion of others as leadership. It isn't. It is how the weak attempt to lead. Empowered entrepreneurs never dominate or coerce any follower. They empower their followers with knowledge and encouragement. They are teachers who care about others and want to help them grow and succeed like themselves. Therefore leaders offer value to followers, which is why they attract followers. Leadership, offering value and attracting people to your energy is a sign of a true empowered entrepreneur.

Skill building and expertise are absolutely a necessity to survive in this industry. Empowered entrepreneurs have an absolute hunger for knowledge. At an empowered entrepreneur's house, you can always spot the entrepreneur because he or she is the one sitting with the family reading while they watch TV. Every empowered entrepreneur has a library full of books, training courses, CD's and DVD's.

One area of particular acumen is the area of marketing and sales. If you want to be an empowered entrepreneur you will be developing your sales and marketing skills immensely. That is because as an empowered entrepreneur you will be marketing yourself, your skill, knowledge and the value you bring to others. This will be the core of your appeal and your success. Be ready to become a master marketer my friends if you are to become an empowered entrepreneur.

So are you ready to begin the journey into empowerment as an entrepreneur? Are you ready to become a leader and help others? Are you ready to devote time each day to learning and honing your skills? These are traits and skills which will distinguish you in your business and attract customers for growth.

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Tuesday, April 24, 2012

Job Opportunities For Entrepreneurs - Five Key Components of a Successful Network Marketing System

Of the thousands of jobs offered online, most of which most are frauds, scams, or systems that simply don't work, network marketing is definitely the best option and will give you the quickest means of reaching your financial goals. Not all networking opportunities are created equal, of course, so if you are serious about finding your freedom through an online opportunity, do your due diligence and research very carefully.

Here are Five Key Components to a successful network marketing system that you want to look for (the definitions of these components are by no means comprehensive but they will give you a good outline to follow):

1. Marketing System: Is it proven? Is it easily duplicated? Are there plenty of legitimate testimonials from average people who have been able to plug-in and make it work for them?

2. Compensation: Is there a clearly outlined payment plan? How do you get your money? Who gets paid first, you or the company you work with? (preferably you because then you get your commissions much sooner.) Also, is it pennies per sale or is it a substantial amount with which you could support yourself ? (You want to be sure the money you make is worth the time you invest.)

3. Training: This is huge! Ninety percent of success in the online entrepreneurial world is psychological, the other ten percent is marketing. Now if you have a great mindset, are committed and dedicated but don't have the proper training to direct your energies and efforts into money making channels, you will fail in this business. Be sure the system you choose offers solid, step-by-step, easy to follow training which will give you the platform to personally brand yourself and will ultimately teach you to become a master marketer.

4. Community: You are not in this alone! When you join a good network marketing company, you also join a supportive community of fellow entrepreneurs like yourself. This is powerful! You can learn incredibly from others and their knowledge. Most people in such a community are helpful and eager to share their knowledge with you. Learn to leverage that knowledge to grow personally and in your business.

5. Products: It goes without saying that you want to sell a product that holds value to the customer, and one that you will be proud to stand behind and promote as something that will indeed enrich the life of those who choose to purchase it.

If interested, leverage my research and the information I've learned. Through trial and error, I have found a network marketing system which completely embodies all Five Key Components. If you desire, see if the system is a fit for you, or choose another. Once you find your network marketing company, with persistence and determination, you will soon be on your way to gaining your time and financial freedom!

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Wednesday, March 14, 2012

Network Marketing Entrepreneurs Wealth Tip - Trick Yourself Into a Network Marketing Success

Let's agree on something first and foremost: You want to be successful as an entrepreneur and network marketer. Obviously you wouldn't have even glanced at this article otherwise.

But maybe the problem is that, whatever your definition of it is, success seems to be alluding you?

What I want you to do right now is read the next line over again until it imprints in your mind:

There are actually only two REAL reasons that you have not had the succes you want in your network marketing business yet.

1. You are living in quiet desperation...
2. You simply don't have the correct training, information, or knowledge to utilize and succeed with...

There is no one who can truly help you with the first one. That's all up to you. The second one I can help you with and you can also help yourself.

At this point, would it be safe to say that if you DID have the right training, information, and knowledge - and the self motivation - to utilize right now that you WOULD be successful?

Of course you would! It is guaranteed.

There are people out there like me who have dedicated their entire lives to mastering the network marketing industry - including the mindset, marketing, and entrpreneurism that goes along with it.

And do you realize that if you can just find a mentor (I know it seems like an impossible task to do - especially on the internet where everyone seems to hide behind their computers these days), that you COULD and WOULD succeed!

Are you getting excited about that yet? About the fact that there is someone (more than one, actually) who not only will teach you everything you need to know to be successful, but they'll do it for FREE.

And that is the best thing about network marketing is that people help people. You actually can't succeed if you don't help others.

Okay, so I promised to tell you how to trick yourself into success in your network marketing business...This is actually how I personally 'tricked' myself to be successful, and you can copy exactly what I did to become successful too.

Here's how:

Back when I first started my Network Marketing business, it occurred to me that I had no clue how to market online. It also occurred to me that in order to make the REALLY big money, I would need to get my hands on what the top earner's knew- and that the only way to get that was to literally buy it.

Here's the problem, how was I going to trick myself into sitting through hours and hours of training classes? This was originally an issue for me because I seem to
have some impatient 'issues' and it just takes too much time to get the million dollar information from the courses. I wanted results RIGHT NOW.

So here's what I did to trick myself (pay attention now!) It's so easy. And it totally changed my life. This is really all I did and you can do the same:

I told myself, "Okay Eric, you know how some people get really excited and go rent a bunch of movies and watch them all weekend? They spend 2, 3, 4 hours or more watching movies. Well, here is what we are going to do: You are going to be just as excited to watch this million dollar information. And then, I promise you, that you will go be able to live a life of such passion and fun and adventure and service that it deserves to be made into a movie...You'll get to have a REAL life instead of simply watching other people's imaginary lives in movies.

This really inspired me and motivated me to make it BIG time!

And how did it happen? Well, through tricking myself.

I just learned to tell myself a different story about what training courses actually were. I compared them to the exciting release of a new movie.

You see, when you change the way you look at things, the things you look at change.

I then remind myself, "There are many people out there who borrow thousands of dollars for college, graduate and get a job they hate until they get laid off, then go out and get another job they hate and start the cycle all over again."

Or, I can spend a little bit of money and a lot of "sweat equity" and learn from a multi-millionaire (not a broke college offense to any college professors)...and I can come out of that course with real knowledge that will give me a real shot at controlling my financial future, my time freedom, and my deeply - cherished bossless life of independence.

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Tuesday, March 6, 2012

Change in Working Capital

Running a business comes with its share of financial responsibilities. Accounting is all about keeping track of every dollar and every last penny. A business without good accounting professionals is bound to fail. Just like a car needs its own engine control unit for monitoring its functioning, a company needs its accounting department. There are various financial constructs and calculations, which are used in accounting to analyze the performance of a company. One of the most important ones is the net working capital of the company. It is closely related to the degree of liquidity that is available to a company for day-to-day operations. In the following lines, you will find an explanation of what is working capital and how to calculate change in working capital of any business.

What is Net Working Capital?

It is essential that the basic concept of what is net working capital be known, before we talk about how to calculate changes in it. It is one of the most basic concept in accounting when it comes to evaluating the financial condition of a company. As the name itself suggests, working capital is the cash available for the daily operations of the company.

The net working capital can be defined as the difference between total current assets of the company and its current liabilities. The current assets of the company include its inventory and accounts receivable, while the liabilities include the accounts payable. Securities and investments are also included in current assets, while current liabilities may also include debt, when calculating the net working capital. Thus the formula for calculating net working capital is:

Net Working Capital (WC) = Current Assets - Current Liabilities

When there is a change in working capital which may happen due to a number of reasons. Either there has been a spurt in the accounts receivable or there is a decrease in the number of liabilities. Analyzing the reason for change will require that you investigate the change in current assets and the amount of liabilities. If you want to look at cash flow, the operating working capital is a better choice as it only monitors the accounts receivable and accounts payable.

How to Calculate Change in Working Capital?

Now that I have explained how to calculate working capital, we can attack the question of how to calculate the change in working capital. I think the method for calculation will be clear after you have seen the above formula for working capital. The change in working capital formula is the same one.

To calculate working capital change in two successive years, you need to calculate the net or operating working capital for both years and simply subtract the second year's value from the first year's amount. For successive years, you must do the same change in working capital calculation.

The change in operating working capital will demonstrate the changes in cash flow, while the change is net working capital, will highlight the macroscopic changes in the fortunes of the company. For example, consider that the operating working capital for year 2009 of a certain company is $90,000, while the successive year sees, it rising to $120,000. Then the change in working capital cash flow will obviously be $30,000, which is good news for the company.

As you can see, calculating change in working capital is a simple exercise, if you have all the data needed for calculation. The total change in net working capital over a few years can reveal the progress made by the company in revenues, as more cash becomes available for its operations. A positive change in working capital of a company is an important indicator of its overall progress, while a negative change in working capital indicates a drop in sales. When comparing the balance sheets of successive years for a company, one needs to monitor this net working capital change. Hope, this article has cleared out all the doubts you might have regarding changing working capital calculation and its significance.

Sunday, February 19, 2012

Property Management Fees Explained

Handing over your responsibilities as a landlord to a property management firm, can let you rest easy and devote your time to personal projects. Many of my acquaintances who have properties spread all over the country, find it impossible to personally spare time for managing the day-to-day affairs of a rental property. They find it easy to outsource the entire job to a property management business, which handles everything from looking for tenants to renewing their lease contracts, besides handling day-to-day responsibilities like maintenance. If you are mulling over handing over your rental estate to such a company, the property management fees explained in this article, will provide you with an insight into the overall costs involved.

Rental Property Management Fees Explained

Most firms will provide you with an itemized list of fees that will be charged for the job of managing your rental property. There are some companies that will handle everything from rent collection and tenant search to maintenance and some which will carry out only a part of the job. Depending on the services provided and the property management contract that you sign, the total property management fees will vary. Let us see what are the itemized costs, generally charged as a part of overall rental property management fees, in the following lines.

Advertising Cost
Be it residential property management fees or commercial property management fees, one of the service components is the advertising cost of your property, which may be borne by the management company. To get tenants, your property has to be advertised in newspapers and websites with real estate property listings. Many firms handle this job of advertising for your property and charge you with whatever costs are involved for the same. So expect this to be a part of the contract.

Basic Property Management Commission
Besides the advertising costs, once you hand over a property to a management company, it charges you with a fixed commission, which may be a percentage of the rent you are paid or just a fixed fee. This may range anywhere between 10% to 15% of the total rent you receive or a fixed fee ranging from $100 to $200.

Lease Up & Lease Renewal Fees
Besides advertising for new tenants, you will have to pay extra for lease agreement creation and renewal of the tenant agreement, that is entirely handled by the firm. This may be around $50 to $100 or more, which also includes a finder's fee, in case of new tenants.

Maintenance Charges
Other than the above main components, most firms also handle the day-to-day maintenance of the property. This may include anything from plumbing repair, to cleaning out the property on a daily basis, electric repair, heating system maintenance and other such varied chores. The fees charged for these jobs, will entirely depend on the maintenance tasks undertaken and costs involved. These will be included in your monthly billing. In case of a large property, maintenance costs can be a large part of the total property management fees charged. In case of small properties, these costs may not form such a large component.

The overall property management fees, will be a sum total of all the above itemized costs. Handing over the entire job to a professional management firm will let you free up your time. If you don't want to get ripped off, I suggest that you survey the property management fees quoted by every firm in your area in detail, before choosing one. This analysis will help you make sure that handling over your responsibilities to a property management firm doesn't eat up too much, into your profits.

Saturday, January 14, 2012

Financial Planning Process Steps

Whenever we start a new venture, the first thing that we invariably do is planning. And when it comes to finance and business, needless to say, planning becomes an indispensable activity. So what is financial planning? Financial planning can be termed as a process in which financial needs are assessed first, objectives to achieve monetary goals are set (which include investments) and assets and resources are evaluated and ways to increase them are devised. Why is financial planning important? Of course! This is important! This activity not only allows the person to learn about planning his finances but also helps him understand the importance of cash flows and investments that come handy in the most unexpected situations. How is financial planning done? Yes, this is what this article is all about: the financial planning process steps! Keep reading.

Steps in Financial Planning

Financial planning is an integral part of financial management. This activity requires a lot of study and research, before one goes about drawing a plan and implementing it. Not to miss an important point on this subject, risk assessment is an integral part of any planning. So let's understand the key financial planning process steps. Below are the key steps to consider in your financial planning process.

Identifying Financial Needs
The primary responsibility in the financial planning is conducting a need analysis. An investor has a number of needs of which he needs to prioritize the important ones and plan accordingly. The important goals which are preset are, education of children, down payment of a house, health requirements, life insurance and retirement. Following these needs are the means to increase the wealth in terms of cash and property. Also a person needs to have concrete answers for the following questionnaire:

    What are your investment goals?
    How much money do you have for investments?
    Do you invest in stocks, bonds and mutual funds?
    Are your financial needs short term or are you headed for long term financial planning?
    What benefits are expected from your investments?

Gathering Financial Data
Now that you have identified the financial needs, the second step should be to consolidate your financial planning worksheet to understand your cash flow, investments and liabilities. This can consume a day to week's time depending on your needs. Take the help of a financial planner who would help you out with this marathon. The documents needed for this process would include:

    Assets, Liabilities, tax deductions and tax returns
    Balance sheets
    Income and expenditure statements
    Employee benefit plan booklets
    Retirement planning documents
    Wills and trusts
    Insurance policies
    Investment statements
    Brokerage house statements
    Bank statements

Besides, the planner will also require some more data like:

    What is your retirement age?
    What income is anticipated post retirement?
    How would you want your property to be distributed?
    What is the current economy state and where is it headed towards?
    How much inflation can occur in near future?

The planner will also make a risk tolerance assessment of your personal attitude (aggressive, moderate or conservative) towards financial affairs and at the end of the data gathering process, he is bound to get a hang of what is your current financial state and what it will be or can be in near future.

Developing the Financial Plan
Here starts the actual work of your financial planner who has to devise effective means of developing a fool proof financial planning process. Steps to develop the financial plan start with the following:

    Documenting your plan to fulfill protection, health and retirement. Also wealth creation and preservation requirements are included.
    Explaining to you about the pros and cons of every rationale included in the plan (keeping in mind the risk appetite of the investor: you).
    Understanding the tax laws and the financial operative framework of the system.

Presenting the Financial Plan

Once the financial plan is well documented, your financial planner will proofread it and present it to you. In the first round of presentation, you have to study the documentation thoroughly, with your spouse. Take your time, and if you have doubts, jot them down in a list and pass them on to your planner. He will give you clear answers for all the doubts raised and then once you have agreed, the planner will make an implementation checklist. So the next mode of the financial planning is implementing the well documented financial plan into action.

Implementing the Financial Plan
This is a pivotal phase of the financial planning process steps. And also this period takes longer time (approx. 4-6 months) than the previous stages of the financial planning. During this phase, intricate details like tax planning, retirement planning, insurance concerns and estate/property planning are discussed thoroughly. To get a clearance on certain issues, attorneys may be involved for guiding and helping out with certain queries. Quite possible, that at the end of the implementation, your financial plan may have more than 20 recommendations (of which some may be major and strategic). So, it depends on you and your planner as to how you want these recommendations to be incorporated. But yes, your financial plan is now ready!

Monitoring the Financial Plan
Once the plan is on roll, it does not mean that the financial planner is required no more. He has to be retained to provide you with periodic updates on portfolio reviews, insurance updates, investment options, tax planning sessions and changing market conditions. Besides, you need to keep your ears open to the planner's alerts on risks that can possibly crop up due to fluctuating economical conditions.

Hope this article on financial planning process steps was informative! So now, you might have understood the importance of financial planning and also you must have understood personal financial planning process steps! One could say, if the planning is complete, your job is halfway done! So, prepare your financial plans meticulously and reap the financial benefits. After all, every penny invested is every penny earned!

Sunday, January 8, 2012

Small Business Grants for Veterans

The Obama administration recently passed the American Recovery and Reinvestment Act (ARRA) of 2009 which set aside 787 billion dollars to revitalize the ailing economy. Out of the 787 billion dollars 275 billion dollars have been earmarked as federal government grants. You can avail small business grants for veterans from this sum if you meet the strict eligibility criteria. Financial assistance received through government grants is the best way to fund a business as the money need not be repaid.

The government grants are mostly given to non profit organizations and institutes working towards the betterment of society. The government also provides financial aid to business dealing with renewable energy and energy efficiency solution providers. The Obama government has even set up a task force on veterans small business development to support veterans run and start their businesses.

Small Business Assistance for Veterans

If you are looking for small business grants for veterans then one of the things you could do is talk to the officer with the Small Business Administration (SBA). The SBA has set up the Office of Veterans Business Development and you can check out the location of an office near you on the SBA website. The SBA is also the right place to check for small business grants for disabled veterans and small business grants for women.

Another resource for checking small business government grants for veterans is the Catalog of Federal Domestic Assistant (CFDA) website. The website has free details of over two thousand federal assistance programs. The website also has a help desk number which you can call for assistance regarding government small business grants and loans.

The local chapter of the Chamber of Commerce is also a good start if you are looking for small business loans and grants for veterans. They have several funding opportunities and if you fit the eligibility criteria you could qualify for a grant and if not you could check their list of available loan opportunities. They have specific grants like small business grants for minorities and women which you could apply for.

If you have seen advertisements that offer small business financing for veterans for a small fee, stay away as most of the information they offer is available free on the government grants website. If you have identified the grant which best qualifies you from the CFDA website, you can use the CFDA number to apply for that particular grant on the governments grant website.

There are several new funding opportunities under the American Recovery and Reinvestment Act of 2009 (ARRA) which a veteran can take advantage of. The details for these new opportunities is made available by the administration on its government recovery website. The 275 billion dollars worth of grants are set to be made available over a period of ten years with most of them being given out in the first three years.

Another resource for small business loans for veterans are the non profit organizations (NPOs). There are many NPOs who work for the betterment of veterans and their families. The Internet is the best resource for finding an organization which will accommodate your needs. Try organizations like 'Rotary' as they have lot of community development programs under which they could provide financial help for veterans.

The US Department of Commerce has a Minority Business Development Agency (MBDA) which is another place for you to check for small business grants for veterans from the minority community. It is advisable to invest some time in researching for grants as the financial reward is well worth the effort.