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Have You Done Your Cultivating Today?

2009-03-24T17:33:00.001-07:00

I grew up on a farm, moved to the big city, if there is such a thing in Nebraska, only to come home and marry the farmer 13 miles up the road from where I grew up. I know a thing or to about cultivating. To the non-agriculture readers cultivate on the farm means to go out into the field and run a machine through it to remove all the weeds and debris from the corn rows. This allows the corn to get all the nutrients that it needs to grow, so that when harvest comes around we have the best yield we can get.

Today was a cultivating day. My office was so stacked with crap, I could barely find the keyboard. I finally had to sit down and clear it out so that I could focus on the work that needed to be done.

Then I proceeded to look out the office door only to realize that the rest of the house was nearly as bad. I needed a machete to cut through the clutter just to find the kids.

Once the house was clean I noticed my 3 kids needed some extra tending so I shut off the phone and heaven forbid hit the power button on the computer. We played some games and even watched a movie.

Then I laid down for a long over due nap.

Work at home moms and dads need to take some time to cultivate something other than their work if they plan to be productive. Going 9 - 0 on the business, the house and the kids all at the same time will eventually take over your productivity. Your focus will be come skewed and you will begin to work more with less output. I bet that the moms and dads that are reading this can relate to these words.

We need to be reminded to stand back and cultivate the important things in life every so often and you will see a greater yield. Do you need to cultivate today?

Employee Evaluations: Four Tips to Help Managers with Performance Review Conversations

2009-03-24T17:32:00.005-07:00

Managers talk with the people on their teams every day. Whatever the topic, most of these conversations happen with no stress, little anxiety, and minimal tension. But when the conversation is about an employee’s performance, anxieties often abound. Here are four ways to reduce the tension and defensiveness that too often surround performance evaluations.

1. Don’t wait for the meeting to deliver the performance appraisal form.

I worked for large corporations for fifteen years before beginning my consulting career. Every one of those companies — GE, United Airlines, PepsiCo — took performance appraisal very seriously. And my bosses at those companies also took their responsibilities for performance evaluation seriously as well. But all of my bosses kicked off the appraisal discussion in a way that was guaranteed to get it off to a bad start. How did they begin? They set up the time for the meeting and then waited until I was sitting across the desk to hand me their completed appraisal form.

At the start of the meeting my boss would give me his appraisal form and I would engage all of my speed-reading skills, whipping through the document as fast as I could to see what he had said about my performance. While I was reading the evaluation (and probably missing some key points in my haste to take everything in) my boss would be behind his desk, pretending to work, but in truth trying to gauge how I was reacting to the evaluation he had written.

What a terrible way to begin! Don’t wait until the meeting starts to give the employee your performance appraisal document. It’s far more effective to go up to the employee an hour or so in advance of the meeting, and say something like this: “Mary, you know we’re getting together at two o’clock to go over your performance appraisal. Here it is. Why don’t you take some time between now and then to review it? Read it carefully and jot down any questions that you’d like to ask.”

Giving the person the appraisal to review in advance of the meeting can lessen defensiveness. It allows her time to think about what you’ve written and prevents spur-of-the-moment reactions. You’ll usually find that giving the person a chance to read what you’ve written in advance produces much more effective business discussions.

2. Set a time frame (and give yourself an extra fifteen minutes).

Your discussion of a person’s performance evaluation may be one of the most important interactions you'll ever have with that individual; make sure you’ve allowed enough time. In most cases, an hour should be sufficient to review the appraisal document itself as well as discuss many of the other subjects that often pop up during performance reviews — development activities, career plans, and future goals and projects. Make certain that the very next activity you’ve scheduled after finishing the review isn't one that must begin at a set time. If you provide yourself with a little flexibility at the end, you can take the time to wrap up the discussion comfortably.

3. Don’t start by discussing the form itself.

Yes, the form is important, but the form simply serves as the formal record of your assessment of how well the individual has done over the past year. Rather than beginning with the first entry on the appraisal form and moving lockstep through the document item-by-item, it’s more effective to start by asking a general question that requires the employee’s thoughtful consideration: “Tim, you’ve had a chance to read the appraisal. Why don’t you start by telling me how you feel the past year has gone?” Then listen as the individual responds and continue the discussion from there.

4. Don’t fixate on getting the employee to agree with your performance appraisal.

One of the most common questions managers ask me during training sessions involves how they can gain an employee’s agreement with what they’ve written in the performance appraisal, particularly when what they’ve written isn't entirely favorable. “Don’t try!” is my advice to them.

What is a performance appraisal? It is a formal record of the supervisor’s opinion of the quality of the employee’s work. Pay attention to the key phrase, “. . . the supervisor’s opinion . . .”

Of course the employee is going to have a different opinion — all of us believe we’re above average. The goal in the performance review discussion is not to gain the employee’s agreement, although it is nice if that happens, the goal is to gain the employee’s understanding. As long as the employee understands how you came up with the evaluation, you’ve done your job. Of course, he may disagree (particularly if you’ve set the bar high and have tough, demanding standards). But don’t waste time trying to convince a person that you’re right and she’s wrong. The important thing is that she understands your expectations and how her performance was assessed.

There’s a lot more to conducting good appraisal discussions, of course. But these four tips should make a tough job just a little bit easier.

eBay Drop Shipping is the Future

2009-03-24T17:32:00.003-07:00

We all pretty much know that Ebay is this Internet phenomenon that is making billions of dollars by hosting online auctions. Basically, people post things they want to sell and buyers browse the site for the things they want to purchase. Eventually, buyers and sellers meet up and the bidding process begins. But, the Ebay business website is also a place where drop shippers come to unload their wares as well.

Drop Shipping Basics

The term has started to catch on in the mainstream but there are still a lot of people out there that don't know exactly what drop shipping actually is. Basically, drop shipping is sales. Let's say that company A sells product X. Now company A does not sell directly to the public but you can buy their products at stores around the country.

But stores, like the Ebay business machine, operate to make a profit. Therefore, they must charge more than they paid for the product in order to make their profit. So, they either buy the product X directly from the manufacturer or from a distributor at wholesale price and then turn around and sell the product at retail price. The difference between those two prices is their profit.

In drop shipping, you become the retailer. The interesting thing about drop shipping is you do not need a store or even an inventory to sell your products. With the help of the Ebay business machine, you actually don't even need a website either.

Drop Shipping Mechanics

So how exactly does drop shipping work? First of all, you find a wholesaler that is selling products you are interested in reselling to the public. After setting up an account with them, they send you product descriptions of all their products or at least those you are interested in selling. If you do not have a website, you can post these product descriptions on the Ebay business website.

When a customer decides to buy one of your great products, they place an order and send their payment (including shipping costs) to you via credit card. You pass this order along to the wholesaler along with your payment.

The great thing about being a drop shipper is that this is where your involvement ends! The wholesaler then processes the order and then ships the product directly to your customer-but with your company name on the packaging! The customer never knows that they are actually receiving the product from a wholesaler and you are pocketing the difference between the wholesale and retail price! Could it possibly be any simpler?

By using Ebay to advertise your products and benefiting from their incredible traffic flow, you are really reaping the whirlwind at almost no cost and with very little effort. And since retail price is roughly double that of wholesale, just imagine the profits you can make drop shipping! No store to maintain, no inventory to worry about, and no large investment of money-this, friends, is the miracle of drop shipping and why it is definitely the future! There are literally thousands of companies looking for people to sell their products so there are opportunities everywhere right now! By using Ebay, you could literally be selling products within a day and making huge profits so don't delay-start your drop shipping business today!

Do you have a Business Idea?

2009-03-24T17:32:00.001-07:00

Every year tens of thousands of people strike out on their own with a vision of starting a successful business. They have the idea, they've got the plan…all they need now is to take the actions to turn their dream into reality.

It is at this point that many a budding entrepreneur comes unstuck. No matter how hard they try, failure seems to greet them at every turn. Of course, all seasoned entrepreneurs know that it takes a hell of a lot of determination and guile to keep on driving forward in the face of adversity. It also takes some know-how…practical knowledge that stacks the odds of success in their favor.

Getting to grips with Joint Ventures

One of the best routes to business success for entrepreneurs is establishing joint ventures. The right joint venture partner can help kick-start a business and get the all-important cash flowing in. What's more, setting up a joint venture does not require a financial outlay on the part of the entrepreneur either.

So, what could a joint venture partner bring to your business? They could bring expertise, a ready-made customer database, manpower, equipment and access to foreign markets. The right joint venture partner could even run your operation for you in return for a share of the profits generated, or provide financing in exchange for equity share. The possibilities are endless!

Finding Joint Venture Partners

Historically, locating joint venture partners to work with tends to be a drawn-out process. First off you must advertise your requirements and then conduct interviews to find the right type of candidate who fits with your needs and company ethos.

Today, thankfully, there is an easier way. Joint venture search companies, such as www.jvbase.com provide entrepreneurs with quick access to joint venture partners.

These types of joint venture search facilities screen potential joint venture partners, manually matching them up with your requirements. They remove a lot of the hassles that are traditionally associated with finding joint venture partners, so leaving you free to concentrate on the more important aspects of moving your business forward.

If you have a business idea and have the determination to make it work, no matter what obstacles stand in your way, get together with a joint venture partner. By doing so, you could find yourself on the fast track to success.

Don't Shoot the Sales Team

2009-03-24T17:31:00.003-07:00

Revenue is down. Sales are slowing. The CEO looks up from the business plan and realizes that the company won’t meet analysts’ expectations. Focusing on the organization’s sales leader, the stage is set for sacrificing a scapegoat.

Upon who else should the axe fall when the sales organization misses revenue targets? After all, aren’t sales and revenue the responsibility of the sales leader? The answer may be as easily forgotten as it is obvious.

To one degree or another everyone in an organization impacts the revenue generating process. The strategic plan of the board of directors and the CEO provides the overall strategy for revenue generation. The marketing department provides crucial demographic and psychographic customer or client information on which the sales department relies in formulating industry and account strategies. Manufacturing, finance, legal, customer service and all other departments facilitate or constrain the process of generating revenue, each in their own peculiar way.

The sales organization’s influence in enterprise revenue generation is con-centrated in the sales pipeline. Identifying bona fide sales opportunities, managing those opportunities through the sales pipeline until they produce revenue, and then managing customer or client relationships are the primary responsibilities of the sales and sales management teams. Rarely, if ever, does the sales organization control the resources of manufacturing, marketing, finance, legal and customer service.

The picture most companies present to the world show the sales organization “out there,” in front of customers and clients and in front of the rest of the company’s departments. Even marketing, the first cousin of sales, is more often than not as disconnected from sales as are the other departments. The sales group leads the company charge, and the other departments take up rear support positions, providing tangible and intangible support.

Revenue generation is a cross functional, company-wide process that involves every department and all employees in the organization. The CEO and the Board of Directors set corporate strategy and everyone else in the organization executes that strategy. We have never observed a situation where the sales organization is in disarray while all the other business segments are humming along with little or no friction. In those rare cases where the failure or underperformance of an enterprise’s revenue generation process lies within the sales organization, the appropriate sales executives, managers and sales professionals should be held accountable and should suffer the requisite consequences. Before CEO’s shoot their sales teams, however, they might want to take a critical look at the entire revenue generation process and how each business segment contributes to or detracts from the success of the process. Like America’s favorite psychologist, Dr. Phil, would advise: Every department in an organization either contributes to the company’s revenue generation process or contaminates it.

Doing the Right Thing--Even When Her Job Was At Stake

2009-03-24T17:31:00.001-07:00

Here’s a true story I’d like to share about doing the right thing—even when her job was at stake.

Her name is M. and she is an attorney who manages the legal department of an insurance company. As my coaching client I supported her through a really challenging ethical dilemma with her boss. She had finished giving her annual performance evaluations to her small team, two of whom received the highest marks. Their annual salary increments were based on these ratings.

M’s boss meanwhile was on a new track regarding performance evaluations. He felt that the trend in recent years was to for managers to be too generous. He wanted stricter accountability in certain areas and this meant lower ratings in general.

So he called her into his office one day and told her that he disagreed with one of the two highest ratings she had given. He wanted her to lower her evaluation for this individual.

M. genuinely respected her boss but felt that he was mistaken in this case. She really believed that the person to whom she had given the excellent rating deserved it. She thought it would be unfair and potentially very damaging to his morale and commitment to the job if his evaluation was lowered. So what to do?

M. had impressed me from the beginning of our coaching engagement with her deep connection to her spiritual values and how she tried to use them as guides in her work. She was nearing retirement age and was working on a Master’s degree in pastoral counseling, something she looked forward to doing at her church when her lawyer-ing days were over.

So after informing her boss that she didn’t want to change the evaluation rating of her direct report and why, he continued to pressure her to do just that. They had several conversations that didn’t create a win-win resolution.

We discussed her feelings, thoughts and options in a couple of coaching sessions. M. felt very strongly about her position and even concluded that, if push came to shove, she was willing to risk her job rather than back down on the issue. In fact, during one of our sessions, she was convinced her boss would fire her.
Fortunately for her, she was in a financial position where she could take an early retirement.

Would she have taken the same strong position on her value of fairness and honesty if she was at an earlier stage of her career? What if she had a young family to support—how would that have affected her willingness to compromise with her boss? Let’s face it, circumstances do play a role in how far we are willing to go to do the right thing. I guess everyone’s conscience operates differently, so there really isn’t any one “right” moral course of action in so many of the situations we face. We take everything into account—our values, our feelings, our needs, the needs of others who rely on us –and then we make the best ethical or moral decision we can. And that’s not always easy!

In a coaching session, we worked through the steps listed in the “Tips” section below. M. decided to stick to her guns and to let the chips fall where they may. Doing so had an interesting effect on her boss. He stopped trying to persuade her to lower the evaluation. Instead, he took full responsibility for his decision by lowering the evaluation himself and telling the employee that it was his decision. He prepared M. for what he was going to do and she had time to think it over before the three of them met together. She decided that, even though she disagreed with what he was doing, she could live with it as long as the employee knew where she stood.

During the meeting her boss took the high road and made it completely clear that the lowering of the evaluation was totally his choice and he gave M. the opportunity to state her position. The consequence of this was that her relationship with the employee remained solid and M. felt good about herself for taking a stand on one of her core values. Her respect for her boss increased because of the way he handled the situation in the end. The employee wasn’t happy, but his feelings were balanced out some by the show of integrity from both superiors, she found out later.

Notice how M.’s taking the moral high road influenced both her boss and her direct report to do the same. Instead of initiating a nasty grievance process or resigning, her employee dealt with his setback in-house rather than going outside for help or leaving.

This story strongly illustrates the ripple effect of putting trust and integrity principles into practice at a high level. When one person does this, it seems to turn on a light for others, and that’s really beautiful to behold. It’s so easy to take our cues from others, after all we’re social animals. But then someone comes along who takes their cues from somewhere else, from a place deep inside and we call that special place by so many different names. So when a courageous person does this, then we are all reminded that we have that place inside too, and we start to dare to live from there once again. I want to encourage you to be that courageous person.

If you are struggling with an ethical dilemma at work, and aren’t sure how to move forward, email or call me, and I’ll be glad to discuss the situation with you.

Tips for Doing the Right Thing When Facing a Tough Ethical Choice:

* Take your time. Before making a tough ethical decision at work, take the time to identify the core value you feel is in danger of being compromised in the situation.
* What are your needs? Once you identify your core value at play, clarify your needs in the situation. For instance, M. needed to act with fairness and honesty, to maintain her direct report’s high morale and commitment, and to continue her good working relationship with him.
* Look for the third alternative. What are your options for getting these needs met? This can be tricky, because if strong emotions come into play, which they often do, it’s human nature to narrow down our options to one or two courses of action, usually the ones at either extreme such as giving in or getting out. There may be a third alternative you just can’t see yet for meeting your integrity needs. In M’s case, the third alternative presented itself after she drew her line in the sand. I’ve seen that happen a lot. When you take a strong stand, the other person stops trying to change your thinking and changes their own instead.
* Wait and see. Sometimes, if possible, doing nothing is the best response to pressure to do something that feels unethical or against your conscience. The person applying the pressure just stops after a while, often because they regained their emotional balance.

Discount Merchant Account Availability

2009-03-24T17:30:00.004-07:00

Find out if discount merchant account services are available for your company by browsing Websites of potential lenders. By checking application guidelines, you will soon see whether you quality, and if so, how to apply and enhance your chances of being approved for this account. Getting a merchant account makes you eligible to accept credit card payments. Think of how greatly your sales volume could increase when you allow customers to pay with credit instead of insisting on cash or checks. They will love you for providing this option, and your sales volume could quickly skyrocket when happy customers come to visit with plastic in hand.

A discount merchant account lets you provide credit payment options at one low price. For example, after paying a possible application and setup fee of perhaps $100, you may be charged just $19.95 per month for the options of accepting credit card and debit payments as well as e-check processing and related services. You have to be careful when shopping for a merchant account, as there may be all kinds of hidden fees that are not listed on the home page. Instead, these may be buried in fine print or posted on a distant link from the home page. You need to find out in advance what the costs will be and how you will be expected to pay them. For example, ask about an online application fee, a membership fee, and a setup fee, among others, if you don’t see these posted. Some services will tell you that what you see is what you get. In other words, if you don’t see a certain fee in the price list, it doesn’t exist and cannot be added later. Even if you accept a merchant account under certain conditions the first year, during the second year your fees could change, so ask about the long view as well.

Applying for a discount merchant account must be undertaken with caution. Something that sounds too good to be true probably is just that. Look for a lender’s name you can trust along with a reputation built on values like integrity and respect. Avoid companies that you are unfamiliar with, as there are many fly-by-night entities looking to make a fast buck. Get the contract in writing, and make sure you read it all before signing up. Ask for clarification of any terms or conditions you do not understand. All too often, an unwary entrepreneur may end up in dire straits when a seemingly lucrative merchant account becomes a sinkhole.

Don’t rush out and buy all types of credit processing equipment when your merchant account is approved. First, make a business budget that includes a category for growth and marketing. Then look for the right kind of equipment that will best serve your customers’ needs. For example, you don’t have to buy every type of credit processing system available when a simple plug-in terminal will do. Keep your expenditures low while you get used to this new way of collecting payments. If all works out well, you can add more options later with your discount merchant account.

Boosting Employee Morale With Employee Surveys

2009-03-24T17:30:00.003-07:00

Do you know exactly how your employees feel when Monday morning approaches?

Are they eager to get back to a satisfying workplace and to perform important tasks?

Or, do they sit home Sunday night dreading another week of unimportant work performed for an ogre of a boss?

The truth is probably somewhere in between; but without actual knowledge of the facts, it’s hard to improve anything.

The ideal workplace provides employees with empowerment and direction when needed, but shies away from unnecessary micro-management. Employees feel they are contributing to meaningful goals in a significant way. The ideal workplace offers compensation and benefits that meet the needs of employees and cause them to remain loyal to an organization for the long term.

If you don't know where your employees’ morale level stands, you can't make life better or productivity higher. Better morale means greater productivity which translates into an improved bottom line. Unhappy employees miss more work and produce inferior work.

By measuring your employee morale level through an Employee Satisfaction Survey, you can learn how your employees feel – provided your employees believe that their honest input will result in appropriate change where needed. The danger of conducting Employee Satisfaction Surveys, of course, is that if you do not allow change where change is needed, you may well cause employee morale to drop even lower.

Suppose, for instance, that one result of a survey is that your employees feel your management style inhibits effective production of quality work. Would you be willing to alter your management style and more proactively empower employees?

If you’re not willing to change, you will likely be wasting time and money by performing surveys. If you’re willing to keep an open mind, surveys can lead your organization to greater heights and result in decisive morale increases.

Some questions that can reveal a great deal about employee satisfaction include:

(1) Do you feel that management listens to your ideas on how to best accomplish tasks?

(2) Is there a recognizable tie between how well you perform your job and your monetary compensation?

(3) Do you often feel you could do a better job if management would only get out of the way?

(4) Do you feel, once assigned a task, that you are empowered to perform that task?

(5) Do you feel that innovative thinking or "outside the box" thinking is encouraged and rewarded?

(6) Are there enough recognition programs for recognizing outstanding accomplishments on the part of employees?

An effective Employee Satisfaction Survey should not be too lengthy; 20 to 40 questions ought to reveal what you need to know about your employees. Whether you select yes/no questions or choose a 1 to 5 scale (where 5 means complete agreement and 1 means complete disagreement with a survey statement), you should, upon survey completion, compile the results using a database that will let you to analyze the results and convert them into bar charts or other graphics which make them easier to understand.

Once you’ve analyzed the survey results, feedback to the employees is crucial. Otherwise, they will likely conclude that what they have to say doesn't matter, resulting in an additional hit to morale.

Hopefully, some of your survey results will indicate areas of high employee morale. Those areas are not likely to need significant attention. The areas where employee morale gets low scores offer the greatest potential for improvement. Develop an action plan and implement that plan with full knowledge of employees. Better yet, involve employees directly. Employee involvement in the development of the action plan and its implementation can lead to positive outcomes and creative solutions to identified challenges.

Most importantly, be aware that you can only fix what you know is broken. Once you’ve identified areas of low employee morale, you can zero in on those weak spots and achieve measurable increases in employee morale, productivity, attendance and loyalty on the part of your employees.

Auto Insurance Rates

2009-03-24T17:30:00.001-07:00

will vary depending on the insurance agency, your driving record, and the type of insurance you are looking to purchase. I you are looking for affordable car insurance or truck insurance then read on.

There are ways to reduce your premiums without giving up coverage. One of the easiest things to do is get auto insurance rate quotes online. This will allow you to comparative shop stress free.

Raising your deductibles is the easiest way to reduce your rates. The higher the deductible, the lower the premium will be. The deductible is the portion you will have to pay in the event of accident, before your insurance coverage steps in. It’s important not to carry a deductible that’s more than what you are able to pay. Your insurance company will not honor its portion of the claim until you’ve paid your deductible. However, the higher your deductible the lower your premium cost will be, so you need to find a

Always remember to ask your insurance broker for any available discounts. Quite often we forget to ask and they don’t seem to volunteer the information. A clean record on the current policy for a certain period of time, having your homeowner's coverage with the same insurer, taking a defensive driving course, having an accident free driving record, and having an approved anti-theft device will reduce your auto insurance rates.

The type of car you drive can also reduce your rates. Stay away from cars that have a high class rating. Rates vary among the different makes and models of vehicles. The different rates are based on the risk of accident, cost to repair, higher theft rates for a particular model and replacement costs such as with a new vehicle. So be sure your vehicle isn’t going to be in a category that increases your rates too much.

A safe driving record consisting of no accidents and no traffic violations will get you the most substantial discount. Most insurance companies are very good at recognizing good driving habits. These are the drivers they want to insure because their risk is much lower.

If the car is old and not very valuable, comprehensive insurance is probably not worth buying as it can quickly add up to more than you’d ever receive in the event of an accident. You can save up to 20% by eliminating collision insurance. You may want to opt not to carry collision insurance as well which can save you and additional 20%.

Check around to make sure you are getting the best auto rates you can. Online auto insurance shopping has taken the guess work out of buying insurance and you can very quickly see if you are being hosed. So if your insurance is coming due now is the time to start shopping!.

Are You Wealthy Yet?

2009-03-24T17:29:00.003-07:00

Here's a real simple way to become wealthy.

Marty and his wife live at home with their 2 children. They own
a 3 bedroom house in a middle class neighborhood and try to live
within their means. Marty works full time in the Printing
Industry, while his wife is in charge of the home and looking
after the children.

They've accumulated some credit card debt and have 2 years left
on a car loan. They try to stay out of debt as much as possible
and together they've managed to contribute a total of $32,000 to
their own Retirement Fund. It is kept in term deposits receiving
5% interest annually.

Two years prior, the couple bought an older house that they
fixed-up and rent out for $850 a month. After paying the
mortgage and taxes $300 is left over each month. This goes into
their savings account each month.

At Christmas, the family bought themselves a new computer and
decided to start a home-based business. Things started out
fairly slowly but after 8 months they were receiving a steady
check of $400 a month which also goes into their savings
account. This part-time business will continue to grow with the
effort they dedicate to it.

This business also offers them some very lucrative tax savings.
By taking advantage of these Tax Strategies they are able to
save an additional $300 a month on tax that was normally
deducted from Marty's paycheck at work. This monthly income is
also added to the couple's savings.

Marty has just begun writing an E-book about his "production
expertise" at work. His plan is to market this book on the
internet for profit

Every Sunday the couple takes a drive to stay familiar with the
Real Estate market in their area. They're looking for another
property, a "handyman's special" to fix-up and rent out. They
have saved enough for a down payment and their credit with the
bank is well established.

The family's total monthly expenses are $2000. Now, here's the
question:

Does Marty's family have Wealth yet?

To answer this question properly you first have to understand
exactly what "wealth" means.You achieve wealth when: *Your
Passive Income is the same or greater than your Expenses.* So
what does this mean?

First, what is Passive Income?

Passive Income is money that you are paid over and over again
for work that you only do once. (This excludes using a gun or
finding cash on the street) Some examples of this would be
royalties for writing a book or a song, commissions that you
receive for sales that others make and interest from bank
savings or dividends on stocks/options that you own.

Second, what Expenses are we talking about? This one's a little
easier to understand. Expenses are the total amount it takes to
run your household and your life. This includes, rent, mortgage
payments, car insurance, food, credit card and loan payments,
etc………

Let's look at Marty's family a little closer…………. Does Marty
have any Passive Income? Yes he does. Marty's salary is not
considered Passive Income. That's because he has to work 40
hours a week just to get the basic amount. If Marty doesn't go
to work then he doesn't get paid. His overtime also doesn't
count as Passive Income.

The interest from their Retirement Fund does though. It's paid
to him month after month as long as it's left in that account.
So, $32,000 at 5% is $1600 a year. Divided by 12 months equals
$133 a month in interest. Ok…..what else?

After the mortgage and expenses are paid with the rent money
they receive on their rental property they are left with $300
every month. This is Passive Income. Just as long as the tenant
stays and pays his monthly rent.

How bout that $400 from the home-based business and the Tax
savings. Is this Passive Income? Well, Marty's wife made sure
that she chose a company where she could sign new business
accounts and get paid commissions on those accounts over and
over again. They've made a 5 year commitment to build this
business part-time. So yes, both the $400 and the $300 in Tax
Savings would apply as Passive Income. Let's add up Marty's
total Passive Income.

Interest $166.00 Rental Income $300.00 Home Based
Business$400.00 Tax Savings $300.00 Total $1166.00

Not including Marty's salary from work, his family's Passive
Income is $1166.00. Not bad. Every month this amount flows into
the family's bank account, regardless of anything else they do.

We said that Marty's monthly expenses total $2000.00 a month.
And we also said………… You have Wealth when: *Your Passive Income
is the same or greater than your Expenses.*

$2000 Expenses subtract $1166 Passive Income = $834 monthly
balance needed to have Wealth.

Marty's Expenses are still more than their Passive Income so
they're not wealthy just yet. But they're well over half-way
there. With this kind of knowledge a family can know exactly
where to focus their financial attention.

Maybe when Marty writes that ebook he could get some sales and
royalties from it. Also the new Real Estate and more work on
their Home-based business would certainly help them to attain
more Passive Income. Once Marty's Passive Income is more than
the family's Expenses then Marty could start to have much more
freedom. He may even choose to quit his job and continue
developing his Passive Income streams.

Take a look at your own finances. What are your monthly
expenses? Do you have more Passive Income than your Expenses? If
you do Congratulations. You're Wealthy!!! If you don't. It's
time to get started and start adding Passive Income from other
areas as soon as possible.

When you truly understand this principle, you'll be well on your
way to becoming wealthy

A Home Based Business That Works

2009-03-24T17:29:00.001-07:00

Everyone seems to be trying to work from home today. With the success most people are having from running a home base business everyone wants to get in on it. I myself have started up a home based business, but I keep my full time job. I have the time and freedom to do what I want to my business when I want.

Starting a home business is not that easy though. You have to be willing to work hard to get it up and running to the point where it almost makes you money with out you doing anything. Once you have reached that part of your business that is when most people will start another home business. That is how they make even more money by running more then just one home business. It took me a good two months before my home business got off the ground and into gear.

I have the found the perfect work from home business that anyone can do. With my hard work I put into my home business I started to see results a few months after I started. What is this business? It’s working with the e-currency exchange program. It is simple to start but hard at first because there is a learning curve. I bought a simple guide that showed me step by step how to start off in this amazing business. Once I was done I invested $400 and applied the steps that I learned, and watched my money grow to $4,000 in under Two months.

The more you put in the more you will make. My little brother (21 years old) didn’t think it worked but gave it a shot and only invested $100 into it. Before he knew it his money turned into $700 in under 32 days. You can see just that little more put in will make a big difference. The great thing about the e-currency exchange program is that your money grows everyday by 1.5% - 4.0%. There is nothing better then watching my money grow day after day. This is the easiest home business that I found that really does work.

7 No Cost Tips to Market Your Business

2009-03-24T17:28:00.000-07:00

7 No Cost and Low Cost Tips to Market Your Business
by Kathleen Gage

Marketing a business can be fun, exciting and creative. It can also be very frustrating and expensive if one doesn’t know what outcome they are looking for or how to evaluate cost effective methods of marketing.

Over the years people have come to know me for my unique ability to develop low cost and no cost strategies to market and promote a business, product or service. Strategies that have realized incredible returns.

Some of my successes have included:

- Before my last book was published I pre-sold over $8,000 in books
- Over 250 people registered for a recent seminar in less than 2 weeks and the cost to promote was under $25
- One company used my strategies for a career expo and made over $180,000 in consulting fees
- One speaker sold over $23,000 in product sales back of the room at a two hour seminar with strategies outlined in my program

I don’t share this to impress anyone, rather to impress upon you when using the right strategies for your market, you can realize some incredible results.

People have also come to know me as someone who is a stickler when it comes to putting systems in place. My marketing successes are a direct result of the systems I have implemented.

With a bit of forethought, planning and desire, you can successfully market your business in a very effective manner. Below are seven proven strategies sure to increase visibility, leads and sales.

1. Business Cards
Business cards are often one of the most underutilized tools in one’s marketing.
Use the front and back of your business card to gain full benefit. Depending on your market you can put some very valuable information on the back such as a sports schedule, emergency numbers, or special dates people want to remember.

Keep some in your wallet, your automobile, on your desk, and some at home. Be sure to carry them with you wherever you go and be willing to hand them out as opportunity presents itself.

Creatively distribute your card. When you eat out you can leave one with the tip.
If you borrow a library book, use one as a book mark. Hand them to clerks in stores who may know other people who could use your product or service.

When someone gives you their business card be sure to enter their information in your database. Send them a short note or email within 48 hours of meeting them to keep your name fresh in their mind.

2. Send a picture
A great way to keep your name fresh in a customer’s mind is to send them a picture of when they purchased a product or service from you.

Put a picture of a buyer’s auto purchase in a beautiful calendar. Likely, the proud owner of the vehicle will display the calendar for the next 365 days.

For specialty gift shops, when a customer makes a substantial purchase, have a picture taken with the shop owner. Frame the picture and send it to the customer.
Chances are very good the picture will be displayed proudly for friends and family to see.

A dentist who specializes in smile makeovers can easily arrange to have a professional makeup artist and photographer capture the patient’s beautiful new smile. No doubt the patient will be more than happy to show others their new look.

3. Associations
Associations particular to your market are a great resource for marketing. There are associations specific to virtually any industry, job type or business. A quick web search will likely show you how much is available.

A major opportunity within many organizations is the chance to network. Additionally, to make presentations. Along with presentations come publications.
Often, when you do a presentation, you will get a mention in the association newsletter, their Ezine and/or on their website.

In many cases, when an organization has a newsletter or Ezine, they welcome the presenter writing a press announcement for them. It saves them time and often assures you have a better chance of the information making it into the publication.

They may also welcome you writing an article for their publication or website.
This lends itself to pre-presentation visibility. Additionally, you will position yourself as an expert and increase credibility.

Most organizations have the following opportunities that can help you to gain visibility and do some very effective marketing:

-Newsletters
-Internet listings
-Links to you website
-Discounted advertising rates
-Networking opportunities
-Business referral services
-Special recognition events
-Education seminars
-Business and membership directories

In many cases you will need to be a member of the association to take advantage of the multiple marketing opportunities. In other cases membership is not necessary.

4. Committee Involvement
Committee involvement is a great way to give back to the association or community while building visibility for you and your business. In some cases, you may even want to get involved in a committee where you have little experience or knowledge. This will give you an opportunity to stretch yourself and meet and network with individuals you may not have otherwise had the chance to meet.

5. Contests and drawings
Contests are a favorite for many businesses such as restaurants or those that have high foot traffic. Contests are a great way to build your database quickly.
You are generating very hot leads when you have a contest with people who have already frequented your place of business. The key though is to do back -end marketing. Far too many businesses hold contests, get lots of names and do nothing with them. In this case, it is a complete waste of time to hold a contest.
You can advertise a contest to gain new foot traffic in your place of business.
Trade show booths are a great place to hold a contest. Pre-show marketing helps to generate traffic at your booth. Invite people to stop by booth # _____ (whatever your booth is) to enter to win. Creative contests can also generate free publicity.

6. Cross-promoting
Join with other companies who have products or services that compliment yours and promote each other. Let’s say you have a massage business. You could partner with a candle company to sell their candles to your massage clients. They can give out coupons for your massage business. Or the candle company can partner with a gift basket company. Cross-promoting is only limited by your imagination.

This can considerably cut down the cost of business promotion and allow each business to use promotion techniques that might be too expensive to implement alone.

7. Bonuses
Secure special offers from various businesses who want to share a similar market as you. When a customer buys a minimum amount they receive a bonus packet with the various offers from the other vendors. This is a win/win all the way around. The other vendors gain visibility, you have something extra to offer you customers and the customers get incredible value for their purchase.

Be aware of who you cross-promote and joint venture with. You want someone who will be equally committed to a campaign.

Mesothelioma Lawyers

2009-01-03T15:43:00.000-08:00

Mesothelioma is a rare form of cancer that has developed through exposure to asbestos. This deadliest disease affects the lining of the various organs like lungs, heart, abdomen and other regions. Every year around 3000 people are reported to have mesothelioma. The rate of mesothelioma-infected people is increasing constantly every year. Mesothelioma may take several years to develop in a person who has been exposed to asbestos.

The compensation can be awarded in millions of dollars as the best compensation to a person who has developed mesothelioma. A mesothelioma lawsuit offers you many regulations and procedures to receive compensation. A well-specialized lawyer who deals with the mesothelioma case type can help you to receive the maximum compensation. There are various law firms with well-specialized top lawyers who offer you the best service in receiving maximum compensation.

The National Law Journal named Baron and Budd, P.C. as the plaintiff’s hot list. That firm is considered as one of the top most law firms for mesothelioma case types. There are several law firms with well-specialized lawyers for this case type. Hackard and Holt are some of the top lawyers in the Sacramento area. KazanLaw, Brayton Purcell, and Clapper & Patti are a few of the major lawyers in the San Francisco Area.

Mesothelioma litigation compensates people who have developed mesothelioma due to exposure to asbestos by some irresponsible company or distributor of asbestos. Hiring the right lawyer can help you in getting the right compensation. An asbestos attorney can be consulted for further litigation if the person is adversely affected by mesothelioma.

The various top lawyers from the law firms available are Paul, Hanley and Harley LLP; Cooney and Conway; Simmons Cooper LLC; and Lewis and Scholnick; they are available in the state of New York. Several top law firms that are well specialized in mesothelioma are also available in other states which provide excellent service with maximum compensation.

by ilham dalimunthe

Can Washington Mesothelioma Attorneys Help My Case?

2009-01-03T15:42:00.000-08:00

Washington Mesothelioma Attorneys have a proven track record when it comes to securing compensation for those that have been wronged by asbestos manufacturers. In fact, most lawsuits filed by Mesothelioma attorneys settle quickly and result in a hefty cash award for the victim and their family.

Asbestos Mesothelioma lawsuit case studies have shown time and time again that asbestos manufacturers were aware that their products caused Mesothelioma cancer but covered it up in order to keep turning a profit. Today, approximately 3,000 new cases of Mesothelioma due to asbestos exposure are diagnosed. The law says asbestos manufacturers have to pay for this grievous mistake.

Where To Find A Mesothelioma Attorney In Washington

If you have been diagnosed with Mesothelioma cancer due to asbestos exposure, the law limits the amount of time that you can file a lawsuit. That is why it is vital to seek a competent attorney as soon as a Mesothelioma diagnosis is made.

Often, the compensation earned from a Mesothelioma lawsuit is enough to cover the staggering medical costs associated with Mesothelioma treatment and to secure the financial future of the family.

To find an attorney with Mesothelioma experience in Washington, contact the following law associations. They can connect you with a skilled attorney in your area and provide you with valuable information to fight your lawsuit.

· Washington State Trial Lawyers Association, 1809 7th Ave. #1500, Seattle, WA 98101, (206)464-0703, www.wstla.org.
· Washington State Bar Association, 2101 Fourth Ave., Suite 400, Seattle, WA 98121, 1-800-945-9722, www.wsba.org.

Remember, if you have been diagnosed with Mesothelioma cancer, you need to act quickly to file your lawsuit against asbestos manufacturers. Contact a Washington attorney today.