Seven Figure Business

Corporate Rescue Law: An Anglo-American Perspective (Corporations, Globalisation and the Law) (Hardcover)
By Gerald Mccormack

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When it comes to marketing your business event you have so much to think about. You have to think about who you want people to see the event and how the event is going to be marketed for the public. When it comes to marketing your event, it is usually for a social or benefit event. You will want as many people to attend as possible and that is why you need to look at your marketing strategy with a positive and respectful attitude.

The first factor of marketing an event successfully is to get the word out. You will want to think about hanging flyers, using mass media, or by the word of mouth. You can use all of the different ways or just a few. Most of the time, you will use the word of mouth, along with some flyers (not many) and using the radio airwaves. You can get most of the publicity for free if it is a non-profit organization event.

The second factor is the way that you market. You can market your event by using some emotional factors. You can have signs with children who have some type of disease if that’s what the benefits for. If you do that you are using emotional triggers to make someone feel bad enough to at least donate, if not attend the dinner. Depending on the type of event it is, you can use different emotions for different things.

The third factor to keep in mind is getting the right people involved. If you can get a local celebrity to help back the benefit or show up at the event, then you are more than likely to get a good turn out. You can get a local athlete from a major league team, a politician, a local news anchor, or anyone who has a huge influence on the community.

The fourth way to market your event is to use tactics to get a big crowd. If you can get a person with a lot of pull to come to an event, they will encourage others to come. This influence can be because they share the same political party, are friends, or business associates.

The fifth way to market your event is to make it look like an exciting party. Have a TV commercial to explain what it is and why you are having the event. You may want to show previous years of the event and how well they turned out.

You should also never forget the power of the newspaper. If you can get the newspaper to donate or write an article about the event, you have just gotten free publicity, which is the best publicity.

You should also think about where the even is being held. You will want to make it located in a part of the city that is easy to get to and that many of people will want to travel to. You should make these types of events a local event and make the whole community apart of the event. When you make the community apart of the event by asking for their help or attendance, you are promoting your event and the reason for it.

Lastly, you should always use respect in your ads. Never discriminate based on sex, race, or even education. If you want a good turn out, you should market it to the public and state the attire of the event, as well as other information so that the whole community and neighboring communities can join in the event activities.

The way that you market your business event will determine how many people show up for the event and how much you benefit from throwing the party.

Hoshin Kanri for the Lean Enterprise: Developing Competitive Capabilities and Managing Profit (Paperback)
By Thomas L. Jackson

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Evolution of Home Based Business Models

The development of business models has a brief history.
The oldest, most basic business model is the shopkeeper
model.

This involves setting up a store in a location where
customers are likely to be and displaying their
product or service for all the passer-bys to see.

Out over the years, business models have evolved,
changed and become more sophisticated.

The bait and hook business model was introduced in the
early 20th century. This model involved offering a
basic service for a low cost, often at a loss.

This part is the bait. Then by charging compensatory
recurring amounts for refills or other products or
services, this is the hook.

Examples are the razor, which is the bait, and blades,
which are the hook, cell phones that are the bait and
the service charges and airtime that are the hook.

In the 1950’s new business models came from some of
today’s well-known companies like McDonald’s and
Toyota.

In the 1960’s Wal-Mart was the innovator and the
1970’s saw new business models from FedEx, Toys R Us,
the 1980s pushed Blockbuster, Home Depot and many
computer companies to the forefront with their
innovative business models.

In turn, many dot-coms suffered because of their
poorly thought out business models.

Today’s business models depend on how the technology
available is used. Entrepreneurs on the Internet have
also created new models that depend on the emergent of
technology.

Using computer technology, a business has the
advantage of reaching a large amount of customers with
a minimal cost.

Introduction

America is coming home to work. Home-based offices are becoming the wave of the future. Tens of thousands of workers are opting for this way of life, a life in which they can make their own hours, commute to work in seconds, make their own choices and become their own bosses.

For many the home office is becoming the location for a full-time job and the primary source of income. For others it is a part-time venture. Many start on a part-time basis and grow their business into a full-time operation.

Current figures available indicate that during 1991 the percentage of self-employed working from home jumped by almost 6% to approximately 12 million. While working at home has an almost irresistible appeal to many, and many have some big misconceptions of what it is like, here is some very useful information that can help you get started successfully.

Legalities of Working at Home

Zoning

Before setting up your new business it would be advisable to check on the legal status of your business. You need to check zoning laws for your community which may dictate if you can legally operate a business from home. We realize that many businesses never check on zoning for their home-based business and chances that they ever get into difficulties with the law are probably pretty slim. If there are no changes in structure and you do not have customers and or employees enter your home, regulations will tend to be far more easy. Laws and regulations change from community to community, but the following 5 factors will generally be regulated items:

1. Separate business and private entrances.

2. Square footage of the home which is taken up by commercial space.

3. Employees working in the home.

4. Certain occupations such as jewelry or clothing.

5. Storage of commercial goods, especially any hazardous materials.

Here is an important suggestion: keep relations with your neighbors on a friendly basis. Your neighbors will soon become aware that you are working at home. Some may even be envious, and yes, unfortunately zoning authorities will generall become aware of home office zoning infractions through a “friendly neighbor”.

Business License

Most cities or counties require businesses to be licensed. Some home-operated businesses, however, are not required to have a business license. Check with your local City or County Clerks Office to obtain regulations for your locality.

D.B.A. Registration

If you are using your own name as your business name it will not need to be registered, but if you use any other name, or even your abbreviated name, almost all localities require that you register the name. This is called a fictitiousname registration or D.B.A. “Doing Business As” registration. If your name is:

Randy M Jones and you name your business Randy Jones or Randy M Jones Enterprise you will not have to register it, but if you call it: RMJ Enterprises you will generally have to register the name.

Most states have a name search bureau which is a part of the state government. You will generally be able to call this office to see if a given name has already been registered to someone else in the state. This is important to do, or it could be costly later. If you give your business a name which is already registered to anoher company, the other company may demand, and even take legal action to make sure you comply, that you cease to use the name.

Your Company as a Legal Entity

Businesses are most commonly set-up as one of the following entities:

The Sole Proprietorship
Incorporation
Partnership

Most new businesses choose the Sole Proprietorship. It is the least complicated. It requires no paperwork. The proprietor you, or you and your spouse as the owner, or owners, are taxed for all net profit from your business. You add the income of the business to other income, or deduct the business loss from other income. Your tax adviser can give you specific information.

The disadavantage of the Sole Proprietorship is that as the owner you can be held fully liable in a lawsuit. An incorporation, on the other hand, will give you some protection. In this case the “INC” rather than you is the legal business entity. If you are starting a business that tends to have liability exposure the corporation may be the way to go. In this and other legal questions, only your attorney can give you competent legal advice.

Partnerships are generally chosen when unrelated individuals own a business. A partnership should be set up by an attorney, or all kinds of problems can develop later.

Designing Your Work-space

First, you must determine how much space you need. Chances are what you may initially think is quite large may be crowed or not enough space. While many businesses are started from a corner of the bedroom or kitchen, if the space is available it wouldbe far better idea to take a spare area of the house and convert it it into your office. There may be space in the basement, garage, or a spare bedroom. Having a separate space is more efficient and will make for maximum efficiency. It is also psychologically important. You do not want home activities to interfere with your business, or vice versa.

Friends and family will need to be told politely firmly that business hours mean business and dropping in, or calling to chit chat is not acceptable. Psychologists suggest that you work “from” home not just in your home. There is a danger of becoming isolated. Inasmuch as time allows, participate in seminars and local business activities and organizations.

Financial Planning

It is said that owners of new businesses never have enough time or money. The majority of small businesses which do not succeed will fail because they are not properly financed. With regards to your financial planning carefully review all required start-up expenses as well as on-going expenses before revenue will be generated. Estimate your profit margins and all fixed and controlled expenses. Almost all entrepreneurs will tend to be much more optimistic about their estimate of the financial performance of a business taken what is necessarily realistic. There are always unforseen expenses.

It is a good idea to only invest in absolutely necessary expenses. This applies to furnishings, supplies and all equipment. Computer equipment in recent years has become outdated within a short period of time. So, if what you acquire will serve you well for 2-3 years will be able to upgrade your equipment later on. Your empasis should be on conserving capital. As your business develops, unexpected hurdles will come along and periods of low revenue. Your capital will make it possible to keep your business operating during these times.

Why Should You Have A Business Plan?

While writing a business plan can be made into a highly sophisticated undertaking especially by large coporations, its easy to do when done for a new or small owner operated-business. Essentially, you will be committing your plan to paper. As you do so your thought will become more formal and concrete and this will tremendously assist you in the development of your business. If you are considering to obtain financing for your new business either through a bank or the SBA, a formal business plan will be a necessity. Home-operated businesses will have a much more difficult time in obtaining financing.

Don’t Forget Uncle Sam

As in all undertakings of life from birth to death and beyond, the IRS will be there to watch over you. Almost all small, home-based businesses will start out as “Sole Proprietorship.” This legal status is best for ease of handling and for tax benefits. Your net business income or loss becomes an addition or deduction to other income ddeclare at the end of the year. Careful record-keeping of all business revenue and expenses is a must. Keep a separate business checking amount for your business. Do not intermingle business and personal expenses. Other special tax benefits and regulations apply to home-operated businesses. You should obtain professional advise from your tax adviser.

Free Publications available:

“Record-Keeping For A Small Business” IRS publication 583. Call the IRS 1-800-829-3676.

“Business Use Of Your Home” can also be obtained free from the IRS.

“Tax Guide For Small Business” is an annual IRS publication #334. It is also free.

Insurance

One disadvantage of being self-employed is not having health and disabilty insurance. You may also need liability insurance. Your homeowners insurance covers your belongings in your home, but itmay not cover all business inventory and equipment. Check with your insurance agent to make sure you have the right coverage.

Factors that will Determine Your Success

Do Your Homework

The more you know about your business, the better your chances of success. Attend seminars and join trade associations. Read books and trade publications. If you do not have a business background a business introductory class at a local college would be advisable.

Planning is Key to Your Success

You and your family’s future and livelihood is at stake. So your decision and planning to start a business are very serious matter. Establish a long range plan which encompasses your business and financial plans. You should obtain legal or financial advice from an attorney or accountant before committing to nay long range or major financial transactions. Agreements with suppliers or customers shoul;d be put into writing.

You Must Wear Many Hats

Small business owners over time can become experts on a variety of subjects. At the start the most important aspect is the mind-set. Your communication to the rest of the world through all available means will determine your success. here is an abbreviatedmarketing check list:

Telephone equipment
Promotional Material
Advertising (Don’t forge the Yellow Pages)
Stationery
Direct Mail
Membership in Organizations
Direct Sales

Invest in Good Equipment

The right equipment will make your work easier and your business more efficient. To conserve cash used equipment should also be considered.

So What Are Your Chances

The better you think they are the better they generally are, and don’t forget that among thousands of others:

Apple Computer, Domino’s Pizza, and Walt Disney all started as home-based businesses.

Resources/Associations

There is a great deal of expert advice and resource material available to you. Much of it is free of charge. A variety of literature is avilable, both excellent books on all business subjects and various magazines. Your local Chamber of Commerce often sponsors classes. Banks can give you advice, or can be used as a sounding board. Local schools offer a variety of classes of interest to business owners. Don’t forget the Public Library. Last, but not least, don’t forget the U.S. Government.

SBA (small Business Administration) offers a range of services such as loans, financial consulting, computer and technical consulting services and a variety of publications.

Check your local telephone pages, or contact:

Small Business Administration
1441 L Street NW
Washington, DC 20416
(202) 659-6000

United States Chamber of Commerce provides literature, telephone referrals and other services to small businesses. Contact your local Chamber of Commerce or:

United States Chambers of Commerce
1615 H Street NW
Washington, DC 20062
(202) 659-6000

Internal Revenue Service offers a variety of services which includes workshops, films and publications to clarify tax matters for small businesses. Contact your local IRs office or:

Education Branch, Taxpayer Service Division
IRS, Department of the Treasury
1111 Constitution Ave.,NW
Washington, DC 20274
1-800-424-1040

Better Business Bureau (BBB) The BBB can be an important ally in checking on potential suppliers and other businesses. Check for telephone listing in the city where the company you are checking on is located.

What You Need To Know When Selling Annuity

Annuity is a mode of payment employed entered upon by two parties wherein the payee gets a certain amount of money yearly until the whole sum is paid for. A person and a company or an individual and a branch of the government normally enter into annuity agreements for retirement payment purposes.

Annuity is a form of an investment. It can also be paid for in an immediate manner but only after the maturity period is reached. It is also subject to tax and its interest rate can either be fixed or variable. For people who pay for their annuity on a yearly basis until it reaches maturity, they can pay through a flexible premium plan or a single premium plan.

Right now, annuity payments come in the form of structure settlement, investment annuity, workman compensation, or lottery winnings. As stated earlier, you normally have to wait for several years before you can get a lump sum out of your annuity payments.

However, with the sell annuity programs offered by different financial companies these days, you don’t have to wait very long to get your money. You can acquire cash out of it today. There’s no need to wait for decades.

There are many private company buyers of investment annuities in operation today. Most of them have been working in the industry for several years now. They are the experts when it comes to the cash out of annuity payments so that you can get your money fast and easy.

When going for these companies to acquire income out of your annuity payments, you have to make sure that you go for the organization that follows superior customer service. Keep in mind that you’ll be selling your hard earned retirement money. If you entrust it not to the right people, you might not be able to strike a good deal out of it. Worse, you might go through difficulties during the cash out process.

Response time is very crucial. The financial company you’ll employ should be prompt in answering your concerns about your annuity. They should work fast and efficiently, to the point that they act as if you’re their only customer. Their way of dealing with your should be on a personal level as well. You’ll immediately feel if you’re treated as a source of income and not as an individual.

Not everybody is familiar with the whole transaction of selling annuity. It is important that your agent explains everything to you before the transaction even begins. Selling annuity is not as simple as signing some documents and getting the check. It would have to go through numerous legalities amounting to a thick pile of paper work. And more importantly, you would have to understand every paper that you’re signing. That is, if you want to strike the better deal out of your annuity payments.

If the financial agent of your choice falls short in informing you of the things they have to do and they thing you have to understand, better go somewhere else. Or if you have the time for it, you can simply make a research about how these things work.

This way, you’ll have deeper knowledge about the processes and you won’t be taken as a fool during the transactions

Source Facts About Selling Annuity

How To Compose a Home Based Business Model

The home-based business model explains just how a
business expects to make money and how it is
positioned within the value chain.

A traditional retailer’s business model will assume
that the retailer can purchase the correct goods at a
discounted price and sell them for a mark-up to make a
profit.

The model will also project a specific amount of foot
traffic and what the revenue per customer will be. A
poorly thought out business model can be the downfall
of a business, especially a small, home-based
business.

The business model design should include the modeling
and description of the company’s value propositions,
target customer segments, distribution channels,
customer relationships and value configurations.

Also included should be the company’s core
capabilities, partner network, cost structure and
revenue model.

If you are seeking out finances for your business, it
is important that you have a well-structured business
model.

This business model will show potential lenders a few
things about you and your business. First, it will
show just how serious you are about your new business
venture. It will also show potential lenders how well
your business may prosper.

Lenders do not want to take on a high risk like a new
small home based business without knowing that there
is an actual need for what the business is providing.

There are many professionals available to help you
write your business model for a fee, but in the long
run of things, it may be the best money you spend to
get your business up and off the ground.