Posts Tagged ‘personal’
4 Steps to Inspired Goal Setting
At the beginning of the year, there’s often an orgy of goal setting. People get into a collective frenzy about setting personal and professional goals.
Traditional goal setting often doesn’t work because we are not in vibrational harmony with our goals. The feelings we have about our goals aren’t aligned with our thoughts. So we often effort and take too much action before we’ve properly aligned our feelings and beliefs.
Here are 4 Steps to Inspired Goal Setting.
1. Know why you want the goal
Many of us to becoming specific about our goals way too early. We haven’t felt the essence of why we want what we want. We really need to feel our desire about our goals.
What is it we really want; more time to spend with loved ones, space, a sense of aliveness, pleasure, joy. If we don’t know why we want what we want, then all the action in the world won’t make any difference.
You could also call it the Vision Thing. To have a bigger vision regarding our lives puts goal setting in context and makes them far easier to achieve. If your goal is a “have to” “must” or an “ought to”, then it aint gonna happen. You joined that gym because you “had to” lose weight and how often did you go?
2. Gain clarity about your desire
Haven’t you already done that? Well, partially. You can only set personal and professional goals for yourself. If your desire isn’t there, then it aint happening:.)
If your goals aren’t crafted with your true desires in mind, then they’ll go unfulfilled and/or self sabotage is often the result. It’s important to be excited by the possibilities that working towards your goal will bring.
Also, cultural and social expectations often shape our goals as to what we think we can have as opposed to what we actually want – so need to gain clarity about what is truly your desire and what belongs to other people.
You’ll never be able to do enough to satisfy other people, so stick to satisfying yourself.
3. The Specification
Once you’ve ramped up your desire and feelings about the goal, here is where the SMART model (S = Specific, M= Measurable A= Action orientated R= Realistic, T= Time based) comes in. Write down your specification in rich feeling detail and then…………
4. …………. Let Go
That’s right. Let go of your judgements, your timing of when it should happen, your attachment to the outcome looking the way you think it ought to look.
Letting go means that you stop efforting and yearning and waiting. This frees you up so that you are not wedded or attached to a specific outcome, but let the Universe deliver.
From here you start to use your intuition and take inspired action. Inspired action is effortless. You take action from a place of feeling good.
It opens you up to receiving ideas, opportunities and different kinds of assistance. You may find yourself drawn to call someone, or someone contacts you out of the blue. For some reason you take a different route to work and you see something that gives you an idea.
You do less as more comes to you. You stop “having” to do things and end up effortlessly achieving your goals.
And if you don’t achieve your goal(s)……………………..
Reframe it – maybe the Universe was telling you that this wasn’t the right path and was leading you to something better, even though you didn’t always see it at the the time. Hasn’t that often happened in your experience?
Follow the above process and you’ll find yourself achieving your goals with much more ease and joy.
Julie Plenty helps creatively self employed people prosper by using the Law of Attraction, because they ARE their business. For more self empowerment and Law of Attraction articles, and to sign up for her Life Design newsletter, visit:
How to Unleash Your True Golf Potential – Part 2
In (Part 1) of this article I discussed how muscle imbalance can often keep a golfer from achieving his or her true playing potential. Even though these imbalances are quite common they often go untreated due to the fact that the golfer is focusing on the symptom and not the cause. The symptom in this case is the inaccuracy and loss of power in their swing. The cause is the muscle imbalance.
Postural deficiencies (imbalances) consist of tight (shortened) muscles and weak (lengthened) muscles. Common golf posture consists of a forward head and rounded shoulders. Proper program design will call for the tight muscles to be stretched and the weak muscles to be strengthened.
In addition, the average person also has a weak core and lack of neuromuscular joint stabilization making it even more difficult to control their body during a functional movement such as golf.
Common muscle imbalances of a golfer:
Forward Head Position
Anterior (front) neck muscles (tight/shortened) – Stretch
Posterior (rear) neck muscles (weak/lengthened) – Strengthen
Rounded Forward Shoulders
Pectoral (chest) muscles (tight/shortened) – Stretch
Rhomboid (upper middle back) muscles (weak/lengthened) – Strengthen
Lack of Core Stability
Transverse abdominals / Internal Oblique (weakness) – Strengthen
Pelvic floor muscles (weakness) – Strengthen
The “Core” is where all movement begins. It is also the controlling force behind an individual’s center of gravity. The core muscles support the spine and pelvis and are an essential part of driving the ball with power and accuracy.
Stabilization training increases communication between the nervous system and the muscular system which will result in increased joint stabilization during functional movements such as golf. Performing exercises that require balance such as single leg exercises, stability ball exercises or using unstable surface’s will increase neuromuscular efficiency (communication between the nervous system and muscular system).
The combination of corrective exercise, core training and stabilization training will greatly improve your ability to unleash the true potential of your golf game. A balanced posture, strong core and efficient joint stabilization will decrease any pain or discomfort in your swing and significantly improve the power and accuracy of your game.
Craig LePage, CSCS, NASM-CPT, is a well-known Fitness Professional in the Charlotte, North Carolina area and is the Director of Precision Fitness Mooresville. He has been helping people reach their fitness and wellness goals for more than 10 years. His credentials include a Bachelors of Science Degree from the University of Bridgeport Connecticut, CSCS credentials from the NSCA and a Personal Training Certification from the NASM (National Academy of Sports Medicine). Craig has written for Charlotte, NC area Newspapers, authored his own fitness & nutrition program and is a frequent guest on a Charlotte area radio show that focus’ on health and wellness. He is currently co-authoring a golf specific exercise book (Play Better, Longer ? Golf) and is also working on a book of his own that should be available sometime next year.
For additional information please contact (Craig LePage); craig@ncprecisionfitness.com, or log on to http://www.lakenormanfitness.com
How to Deal With A Death in the Family and Still Run Your Small Business
As a small business owner we have to deal with tax law changes, local ordinances, environmental laws, Worker’s Compensation, etc. Just when we thought we had everything under control, something terrible happenes. A death in the family. Oh my God you say? What do I do now? Well since I have been there, let me tell you what you need to know.
When someone close died in my life, I plunged immediately into an unfamiliar state of emotion, frustration, anxiety and grief. Needless to say, I wasn’t any good to my business. I couldn’t make decisions and was totally helpless not knowing what to do. After talking to financial advisors, attorneys and accountants, all of which was very time consuming and extremely costly, I learned that I had a lot more to learn.
If you have a death in the family and all of a sudden you realize you are in charge, gather the following information before consulting the professionals. It will save you time away from your business and relieve some of the stress. Not to mention make it easier for your consultants and saving you money. Here is a list of the things you may need to do to settle the estate and who can help you with answers:
GENERAL PROCESS FOR ESTATE SETTLEMENT
Send for Copies of Death Certificate
Gather Information on Estate Assets: Executor, Trustee, Family Members, Financial Advisors
Meetings With Estate Planning Attorney, Accountant, Financial Advisors
Valuation of Assets – Date of Death or Alternate Date Six Months Later: Executor, Trustee, Family Members, Financial Advisors
Get Appraisals for Real Property and Business Interests: Executor, Trustee, Family Members
Preparation and Filing of United States Estate Tax Return Form 706: Attorney
Preparation of Estate Settlement Allocation Schedule: Attorney
Preparation and Filing of Estate Income Tax Return: Attorney and Accountant
Meetings With Family To Determine Appropriate Reallocation of Estate Assets
Consider – Assets and Amounts to be Placed Into A/B, A/B/C or Other Trusts, Needs And Abilities Of Surviving Spouse, Family Gifting Programs: Executor, Trustee, Family Members, Financial Advisors
Set Up Listing of Buys/Sells for Schedule D of the Applicable Income Tax Returns: Executor, Trustee, Family Members, Financial Advisors
Transfer and Change of Title/Ownership Registration of Estate Assets into Newly Created Trusts, Existing Trusts, Business, Joint or Personal Accounts: Executor, Trustee, Family Members, Financial Advisors
Preparation and Filing of Applicable Joint and/or Individual Income Tax Returns: Accountant
One of the hardest parts of estate settling I found was the filing of the Estate Tax Return. The following is much of the information you will need. Your accountant and attorney will ask for it so you may as well have it ready.
INFORMATION NEEDED FOR UNITED STATES ESTATE TAX RETURN
FOR EACH ASSET IN THE ESTATE YOU WILL NEED TO INDICATE THE OWNERSHIP. FOR EXAMPLE: DECEDENT, SPOUSE, JOINT WITH SPOUSE, JOINT WITH OTHER JOINT TENANTS, TENANTS IN COMMON, LIMITED PARTNERSHIP, GENERAL PARTNERSHIP, PART OF BUSINESS INTEREST
Real Estate:
Description, Property Appraisal, Valuation Include Personal Residence Here If Applicable
Stocks and Bonds:
Description, CUSIP Number, Number of Shares, Price Per Share, Bond Par Value, Number of Bonds, Price Per Bond, Total Value
Mortgages and Notes:
Face Value and Unpaid Balance, Date of Mortgage or Note, Date of Maturity, Name of Maker, Property Mortgaged, Interest Dates and Rate of Interest
Cash:
Name and Address of Financial Institution, Account Balance, Account Number, Nature of Account – Checking, Savings, C.D.’s
Insurance on Life: Name of Insurance Company, Policy Number, Number of Decedents: Form 712 Life Insurance Statement from Company, Include – Insurance on Decedent’s life receivable by or for benefit of estate and receivable by beneficiaries other than the estate
Jointly Owned Property:
Information as indicated above – Interests Held By Decedent and Spouse as the Only Joint Tenant, All Other Joint Tenants
Other Misc. Property:
In this section list items not included in any other;
section above such as -
Debts Due the Decedent
Interests in Business
Interests in Partnership or Unincorporated Business
Insurance on Life of Another
Section 2044 (QTIP from Prior Transfer) Property
Claims, Judgements
Rights, Royalties, Leaseholds
Reversionary or Remainder Interests
Shares in Trust Funds
Household Goods and Personal Effects
Automobiles, Boats, R.V.’s
Annuities, IRA’s
Name of Financial Institution,
Trustee or Custodian
Pensions:
Description Account Number, Account Value, Beneficiary Information; Transfers During,
If Applicable, All Necessary Information Decedents Life:
Powers of Appointment:
If Applicable, All Necessary Information
In addition to all of the above information for the federal estate tax return, you will need information including descriptions, asset values and expense amounts for the following allowable estate deductions:
Funeral Expenses
Expenses Incurred in Administering Property Subject to Claims
Debts of the Decedent
Mortgages and Liens
Net Losses During the Administration
Expenses Incurred in Administering Property Not Subject To Claims
Bequests to Surviving Spouse
Charitable, Public and Similar Gifts and Bequests
I hope you never have to use this information. But if you do, this will save you thousands of dollars in consulting fees, weeks of lost revenues from your business and a lot the stress, hardship and anxiety I went through.
“Lance Winslow” – If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Needs Versus Wants For Entrepreneurs
How often do the words “I need” come out of your mouth, as it relates to your business? When you run your own company, it’s easy to think that the only way to succeed is to be moving forward with your expenses — the newest technology, a broader circle of professionals providing you services, involvement in more and more costly marketing efforts, etc. And it’s particularly difficult to resist the urge when you know you can generally take a tax DEDUCTION for any business expenses. But did you ever stop to think how many of those requests are actually needs, and how many are simply wants?
WHAT IS A NEED?
Let’s start by defining “need.” In the strictest sense of the word, a “need” is something that you have to have to get by in this world — a NECESSITY. In your personal life, you need food, shelter, clothing, medical care — the basics. You will probably experience physical suffering of some sort if you don’t have your needs met. In your business, you also have some basic needs — business cards, basic office equipment and supplies, a scheduling and follow up system, involvement in some networking activities, and generally some professional development or continuing education for your field. You can’t run your company successfully without them. Depending on your area of specialization and experience, some assistance with accounting, legal, or other professional issues might also be considered a “need.”
A want, on the other hand, is something that you desire — something you would like to have. But by no means will you suffer in any way (except perhaps mental anguish!) if you don’t get the thing you want. “Wants” quite often fall into the category of LUXURIES — nice to have, but the world won’t end without them. Having a computer that could keep Mir running or an Amazon.com quality website certainly fall into this category. But other items could be considered wants, depending on the type of business your run, your customer base, and the level of product or service you provide.
MAKING THE DISTINCTION
The hard part comes when you live in a prosperous capitalistic society, like ours. The “western” standard of living is so high that even many of our poor tend to live above the level of basic needs. In 1998, 97% of “poor” Americans (as defined by the Census Bureau) owned a television — something that could definitely be considered a luxury. In many third-world countries, less than 30% of the population even has access to electricity — which most westerners would consider an absolute necessity. My intention is not to make anyone feel guilty — it’s simply to point out that the distinction between want and need is often RELATIVE. It depends on the area in which you live, the company you keep, the lifestyle you choose, and the expectations of the society around you.
It is also important to have some PERSPECTIVE about your place in the world marketplace. If you are running a small business, the goal is not to become a multi-millionaire in the first year — sinking every penny you can get your hands on in your company, without an eye to the future (look at all of the dot-bombs in the early 90’s). You have to start out slowly — growing responsibly and spacing out your business investments as your revenues increase. At one point in your company’s lifetime, having a staff person to handle administrative duties may definitely be a luxury — but farther down the road, it might well become a necessity for you to handle the influx of new customers. On the flip side, you might make some changes in your business structure that allow you to let go of staff, reduce your need for expensive technology, or decrease some other expense. This is why it is so important to constantly RE-EVALUATE your needs and expenditures — to make sure they are still in alignment with each other.
THE POWER OF ADVERTISING
We are influenced, every day, by the popular culture around us. Television, magazines, movies, and advertising have all done a splendid job of PROGRAMMING us to think that we need a lot of excess consumable goods. Pretend that you are watching TV or flipping through your favorite business magazine and see an ad for something fabulous — the latest PalmXXII, Turbo, complete with satellite com link, scanner, global positioning system, and built in web server. Suddenly, your heart speeds up, and you get a tingly feeling in your gut. It’s perfect — how had you ever lived without it before? You rush right to the store — what?! You don’t have any left in stock?! Your heart sinks and you feel a rush of disappointment. You spend the rest of the day moping because you couldn’t find it anywhere.
Now, this might be a bit of an exaggeration, but it’s not far off the mark for some people. How often have you learned of a new product and were certain that you absolutely had to HAVE it? What if you had never seen the ad? Would your life be any worse off? It’s as if the knowledge that something exists causes the need for it.
KEEPING UP WITH THE JONESES
And, of course, we have peer pressure! But with the advent of the “global society,” the Joneses are not just the people next door anymore. They include business tycoons and techo-gurus and imaginary people on TV that don’t even really exist. But we hold these folks up as the STANDARD against which we should measure our own lives. Just because Bill Gates has an office that will run itself entirely through voice recognition, we think that our manual way of doing things is dated. And since that 24 year-old dot-com wiz profiled in Fast Company reads 23 business journals a week, we think we need to start subscribing too.
THE HIGH COST OF NEEDS
So why is any of this a problem? Let me ask you a confidential question — how much DEBT is your business carrying? Do you have several thousand (or tens of thousands!) dollars of past credit card purchases that you are still trying to pay off? Are you paying every spare penny you earn through your company each month to pay for your “corporate” lifestyle? How does your financial future look? Are you able to save for a rainy day — to put aside a reserve in case the economy tanks?
When your spending PRIORITIES are out of whack, you tend to experience stress, guilt, and anxiety — it can even affect your health. And just think about how many personal relationships are strained (even broken) over money issues. This can be a particularly sensitive issue for entrepreneurs, as the line between business and personal finances is often so blurred. Is that really how you want to live your life?
BALANCING NEEDS AND WANTS
Certainly, no one is suggesting that you give away everything you own and become a monk! But it is important that you strike a balance between those things that you have to have and the things that you would like to have. And it’s important that you be able to PRIORITIZE your business spending. The goal is to focus on those things that will really improve your efficiency, effectiveness, and bottom line — rather than just look flashy.
SO WHAT DO I DO NEXT?
Start by making a LIST of all your wants and needs. Try to be brutally honest about which category they fall into. Then, take a look at the items in your want list. First, ask yourself how much each purchase will IMPROVE your quality of life as a business person — how it will boost your company’s bottom line or build a base for future growth. Rate them with an “A” for a large improvement down to a “C” for a negligible improvement (and if it will actively detract from your entrepreneurial quality of life, cross it off the list!) At this point, don’t even worry about the “B’s” and “C’s” — if we get you to a point where you can have all of your “A” wants, then you can think about the rest.
Now, take a look at your “A’s” — try to decide if there is some way you can BALANCE between your high-priority wants and your needs. What are you willing to give up? Where are you able to compromise? Perhaps you can forego the expensive computer and make do with the one you have to afford hiring a PR agent to help increase your exposure. Or buy your office furniture used to leave enough room in your budget for that additional certification program you’ve been wanting to take. If you make these decisions based on how the purchase will improve your life and your business — based on your own personal priorities (instead of someone else’s!)– you shouldn’t go wrong.
Ramona Creel is a Professional Organizer and the founder of OnlineOrganizing.com — a web-based one-stop shop offering everything that you need to get organized at home or at work. At OnlineOrganizing.com, you may get a referral to an organizer near you, shop for the latest organizing products, get tons of free tips, and even learn how to become a professional organizer or build your existing organizing business. And if you would like to read more articles about organizing your life or building your business, get a free subscription to the “Get Organized” and “Organized For A Living” newsletters. Please visit http://www.OnlineOrganizing.com or contact Ramona directly at ramona@onlineorganizing.com for more information.
Handing in Your Resignation and Serving Notice
Have you made the right choice? Before deciding to resign from your current position and move to a new employer, you should weigh up as objectively as possible all the relevant factors: remuneration, working environment, location, travel demands, training and development opportunities, promotional prospects, and your future bosses.
Consider also what impact a job with the new company would have on your resume. Once you have received and accepted a formal written commitment from your new employer, you should serve notice immediately.
It is important to behave in a professional manner throughout the resignation process. Your character and your personal integrity should never be in question. Be positive; be co-operative; and avoid recriminations.
State that you are leaving the company and hand in your letter of resignation at the same time.
Be prepared for a reaction. If your employer presses you for reasons, give brief and positive answers. Don’t argue or complain. Don’t allow yourself to be deflected from your purpose or drawn into a protracted discussion.
Do everything possible to establish a friendly tone and leave a good impression. State that you are leaving because your new employment offers you opportunities for advancement. Your decision is the result of careful consideration.
Your written resignation should be concise and definite. Do not go into details or give your reasons for leaving. If you have any grievances, don’t express them in the letter. Give no cause for animosity. Ask if there is anything you can do to ensure a smooth transition.
In the letter, state that you are leaving and when. Give as much notice as possible. Two weeks is generally acceptable, but check your contract or the company handbook.
Sample letter:
Dear ( )
I have decided to resign my position as (??..) at (company) effective (date) to take a position with (new employer). I greatly appreciate the opportunity that you and (the company) have given me to develop my skills and further my career.
I shall make every effort to ensure that the transition period goes smoothly for all concerned.
Yours sincerely
( )
Counter offer. Your decision was carefully thought out, so stick to it. Changing your mind makes you appear indecisive and creates a negative impression. It calls into question your long-term commitment and loyalty to your current employer.
During the period of notice, carry out your duties in a diligent and professional manner. Assure your boss that you will complete any outstanding task. If this is not possible, leave detailed instructions for your replacement. Check that all your records are in order. Inform your colleagues that you are leaving. When discussing things with them, resist the temptation to make disparaging comments about your present job or boast about your new one. Do your best to leave on good terms with everybody.
Exit Interview. Many companies expect their employees to attend an exit interview with the Human Resources Manager. If requested to do so, co-operate fully. Conduct yourself in a professional manner. Say only positive things about your employer and the company. Focus on accomplishments or learning experiences you had while employed there. Remember that anything you say is likely to be recorded in the personnel profile.
Visit the author’s website at: http://www.assignmentsplus.com
Gerard McLoughlin, author of ‘Four Minutes To Interview Success’, has contributed career-related articles to hundreds of recruitment companies, websites and publications throughout the world, including: USA Today, JobBankUSA.com, US-Recruiters.com, etc.
To receive FREE career tips on a regular basis, sign up today for The Assignments Plus Newsletter.
The Most Powerful Attribute in Antiques and Collectibles
What can increase your sales volume and make you more productive day in and day out? You’ve probably heard this three word statement that seperates those who wish they could do better,from those who really do.
Knowledge is power!
This three word statement is more than just a great philosophy. The more knowledge you have about antiques, the higher the increase in your overall profitability…as long as you use that knowledge. Knowledge can literally make or break your antique business.
Here’s a difficult lesson that was taught to a high-minded museum by a shrewd, savvy antique buyer with knowledge.
I love this story! It vividly illustrates the difference between knowing and being in the dark about antiques and their value. I was browing in an antique shop a number of years ago, when I struck up a conversation with the owner. We talked about incredible finds that we had stumbled across over the years. Her story topped anything that I had ever done…hands down!
It all started when she attended the last day of a weekend sale at a local museum. It seems that the museum was desiring to remodel, and they were attempting to raise needed funds by selling off some antiques that had been found in the carriage barn that stood on the property. Obviously, she was not expecting to see anything spectacular because she assumed that the sale would be “cherry-picked”.
And then it happened!
While walking through the sale, she discovered a large painting with a faded gold frame. Something about the painting looked strangely familiar, and she thought to herself, “I’ve seen that in a history book somewhere.”
She quickly ran to her vehicle and poured over several large painting identification books that she had brought with her from her personal library. After taking 10 minutes to research, she was almost positive that this painting was a rare item indeed. She went back inside, and with a few minutes left in the sale, she wrote a personal check for $125. and loaded it into her station wagon.
Life took a sudden and drastic turn…for the better!
Upon arriving home, she began to dig deeper with her research tools. She “burned the midnight oil”, and as morning broke, her heart was beating faster as she came to the realization that this painting was something very special.
The next morning, after more phone calls and cross-checking, she gingerly loaded the painting and took it to a temperature controlled vault in the same city where she urchased it. This $125. painting later sold for several million dollars at a major auction house, and this woman’s financial future was changed in dramatic fashion literally overnight.
The museum curator was appalled, overwhelmed and completely flabbergasted!
Imagine that you are the curator of this museum, and you placed the $125. price tag on this million dollar painting! This tag sale had been held to raise money for projects around the museum. If the curator had only possessed the knowledge to even “check it out”, the outcome could have been far more positive for the establishment that he represented!
Knowledge and research made all the difference.
Aside from the curator, think of all the antique dealers, collectors and enthusiasts that had toured this weekend-long tag sale. Here was an item that could change their entire lives financially, and they walked right on by. any one of them could have sold the painting, banked the money, and just “fiddled” around with antiques instead of trying to make a living from them. And the difference was knowledge!
How to get antique knowledge.
With the advent of the Internet, research is easier to do, and the knowledge is much easier to come by. There are literally hundreds, if not thousands of sites that are dedicated to various collectibles, art and antiques.
Visiting the library all day, once a month can be one of the best ways to increase your knowledge of antique items. The library is still one of the most untapped resources for gaining expertise on a variety of antique subjects. Talk to the librarian, ask questions, and dig! The human mind is like a sponge, and someday you may need what you are learning today.
A methodical approach toward research and gaining knowledge can pay huge dividends in your antique world. It’s the secret that can make a huge impact in the buying decisions that you make!
Michael Temple is a retired auctioneer, speaker and the owner of Antique Power Dealers, an antique and collectible business resource. (http://www.antiquepowerdealer.com) He is also the author of the report, “6 Costly Mistakes Antique Buyers and Sellers Make…and How to Avoid Them!” You can own a copy by asking for it. Send your request to: freetips@antiquepowerdealer.com
The Deal is in the Details
What Startups Need to Get a Business Loan, Part 2
In part 1 of this article, entitled “Three C’s”, we looked at the overview of startup business loan requirements from the lender’s perspective. We read how cash, good credit and sufficient collateral form a joint partnership to enable a loan request to bond together into a doable deal. Part 2 will convey the borrower’s documentation necessities in a more detailed fashion. Bear in mind that the following points are of a “generally complete scope”, and that different types of lenders may have additional, similar, or unique conditions to adhere to.
All would-be borrowers of startup business capital need to begin to create and/or gather the following information:
Business Plan – This is not the same as a full scope “business plan” that you would have professionally prepared to approach a venture capital firm. What your plan needs to document is the type of business, ownership information, legal entity (i.e., sole proprietorship, partnership, corporation, etc.), the origination date of the company, the type of product or service offered, and any organizational or management information that the lender should know about, such as:
How many employees will you have, if any, and what their function will be
How you intend to get business
What your selling terms are (e.g., 2% 10 days, net 30)
What facilities are utilized, etc.
Use of proceeds – Disclose the loan amount and how the funds will be used (percentage of working capital, of new equipment, of paying off other debts, etc.).
Projections – This is a major area. If you can get letters from two or three trades that say they are ready to give you projects once you are funded, it would help tremendously. Also, include income and expense projections for the next three years prepared by you or by an accountant. Generally, lenders will want to see cash flow such that your net income from the business will be at least 1.5 times that of the debt service.
Personal Financial Statement – Make sure to list all of your assets and all of your liabilities. List any personal debt owed to banks, finance companies, etc.
Personal Tax Returns – Provide copies of the last three years personal tax returns. Make sure to include all pages.
Personal Resume – You can create this yourself; there’s no need to hire a professional to do this. However, do your very best to make it look professional.
Articles of Incorporation – If the business entity is a corporation, provide a copy of the Articles of Incorporation and the borrowing resolution of the company.
Partnership Agreement – If the business entity is a partnership, provide a copy of the Partnership Agreement.
Business References – Provide three letters of reference, one being from another bank or lender. Ask for testimonials. Do not just list names and phone numbers.
Listing of Fixed Assets – List all your fixed assets with their approximate fair market value and their make, model and serial numbers. List their liquidation value as well.
Equipment – If any of the proceeds are for new equipment, provide invoices or equipment description(s). List any equipment for the business in your possession, it’s age, a copy of title, the original dealer invoice, and the amount of hours on the equipment.
Bank Statements – Include bank statement(s) to verify the amount of cash you have to put down on the loan.
Credit Report – If you have ordered and received your personal credit report, include it as well.
Professional Assistance – List the contact information of your banker, your accountant, your attorney, and your loan broker.
With all of this information compiled, you’re well on your way to having a nice package to present to a lender. A very wise move would be to contact a professional loan broker to assist you in putting the documentation together into a format that commercial lenders and banks want to see. Brokers are also able to submit your loan request to a few different lenders to provide you with the best possible rates and terms. He or she will also strengthen the request by making certain that all of the appropriate paperwork is gathered and put into it’s proper order.
Though this procedure may seem daunting, and the documents take a good amount of time to create, there is an additional benefit that is not readily apparent to most borrowers. If, for one reason or another your loan is not approved with the initial attempt, it only takes a few forms prepared by your broker to convert your request into an SBA loan. At that point, you may have a much better chance of funding. Since it’s beyond the scope of this article to discuss SBA loans, contact a loan brokering professional for more detailed information.
Mark Uptain is the owner of Regent Business Capital, a loan and lease brokerage that works with lenders nationwide to help small and medium-sized businesses get financing. His website The Equipment Leasing Source, offers free equipment leasing information and competitive quotes to businesses throughout the United States.
Conflicts With Your Boss Are Inevitable, But Can Be Healthy
If you are a pro-active, get-things-done type, sooner or later you will come in conflict with your boss. The same sort of assertiveness and confidence that leads you to have a mind of your own has helped him to earn his position.
Another reality is that if you do not have some periodic disagreements with your supervisors you are probably not being as assertive as you should be in moving your career ahead.
These conflicts can prove to be hazardous to the health of your career if they are not handled with common sense, says Ramon Greenwood, senior career counselor, www.CommonSenseAtWork.com>
No one enjoys conflict, especially with the boss. But when you have an honest difference of opinion, it is better to pay the price of discomfort and take the risk of some penalty than to bottle up the frustration and nagging conscience that results from not meeting what you see as your responsibilities.
Knowing you will have conflicts, you can be prepared to handle them so there are no individual losers.
TURN CONFLICTS TO ADVANTAGES
Greenwood says there are nine steps you can take to lessen the damage that can result from conflicts with your boss. In fact, you can turn these conflicts to your advantage.
1. The first step is to concisely define the issue– preferably in writing– so that you have a clear understanding as to what the controversy is all about. Determine how important it is to the parties involved and to the organization.
If it is not truly important beyond your personal feelings, forget it. Save your energies for another time when the stakes are significant.
2. Give full consideration to the points of view of all parties concerned, especially the boss. His responsibilities are different than yours. He may have a legitimate reason for his opinion, which you are not aware of at the moment. The conflict you see may disappear with an explanation.
3. Weigh your reasons and objectives against the good of the organization. Before you “go to the mat” on an issue, be sure you are motivated by what you believe to be the larger interest and not just your own narrowly defined agenda.
4. Ask for a face-to-face discussion with your boss if, after due consideration, you still feel the difference is worth pursuing. If the matter is not resolved with a meeting, ask permission to leave a written explanation with your boss for his further consideration.
5. Never push your boss into a corner where he has no room for compromise. Do not air the conflict with your boss in the presence of others.
6. Avoid letting the matter be positioned on a personal basis. Emotions and personalities have no place in a confrontation with the boss.
7. Be tactful. Show respect for the boss’s position and responsibilities. Whatever the outcome of your differences with him, he is still your boss.
8. Keep the matter in perspective. It is good to remember that win, lose or draw, it is a rare situation when the resolution of an issue results in a pot of gold at the end of the rainbow or the world coming to an end.
9. Don’t pin a medal on your chest if you prevail or wear the black of mourning if the decision goes the other way. Get on with the job. If you have been heard and the boss still doesn’t agree, be a good trooper, support his decision, openly and aggressively. If the outlook is contrary to your basic values look for another job.
If you can’t discuss the inevitable conflicts with your boss in a free and open manner so as to arrive at acceptable resolutions, or if such disagreements are so frequent and painful that your life and career are being disrupted, recognize you have a problem larger than any single issue. It may be that you are at odds with the standards and objectives of the boss or the organization. Or the personal chemistry between you and your boss may be out of balance.
If you can’t resolve the conflicts or live with them, locate another opportunity. Life is too short to exist in a world of turmoil and confrontations, in the opinion of Greenwood.
Senior career counselor for http://www.CommonSenseAtWork.com, Ramon Greenwood is a former senior vice president of American Express; a professional director for various businesses; a consultant; a published author of career related books and a syndicated column
Online Customer Service – The Cornerstone of a Successful Online Business
Online customer service is still one of the most frequently overlooked aspects of running a successful online business. Yet, in the highly competitive world of Internet business, it could be (and should be) the one thing that sets you apart from your competition!
Most Internet businesses that have a drive to succeed focus all of their time and resources on building a great site, and then trying to drive tons of traffic to that site. Honestly, these are two incredibly important factors for success. After all, a site won’t be successful without tons of new potential customers hitting it, and you want that site to convey a professional image of your business by its appearance and ease-of-use. However, you must keep in mind that you are operating in a highly-competitive environment. You probably already know that there are tens, if not hundreds, of other businesses that offer the same basic goods and/or services that you do! They are battling you for the same exact keywords, and constantly enhancing their site to make their visitors’ experience better than yours.
So, how are you going to differentiate yourself from your competition? What is going to set you apart? What is going to help you get, and keep, more customers? The answer lies in the online customer service that you provide! Before I get into how to provide excellent online customer service, let me explain why providing online customer service is so important.
On the Internet, customer loyalty is incredibly difficult to obtain unless your site is associated with a popular retail store (e.g. Walmart.com, BestBuy.com), or has developed a successful reputation and goodwill over a long period of time (e.g. Amazon.com). The fact is, Internet customers are much more likely to shop around from site-to-site because it is so EASY. In the brick-and-mortar world, shopping around for an item means getting in the car and driving from store to store, not to mention, parking at each location, and then going in to find the item. That sounds like an entire afternoon project, just to purchase one item! That is why most people don’t do that, especially for a low cost item. They develop loyalty to one store for a variety of reasons that matter to them, and they buy the item almost exclusively from that store. Think about your personal life. Don’t you usually buy groceries from the same store week after week because it is easier than going somewhere else and having to learn where all your favorite items are located?
The Internet works very different. I can wake up in the morning, and before I finish breakfast I can browse the top ten sites listed on Google for the item I’m looking for. Its so easy to shop around! I don’t know anything about any of those sites so how do I decide which to buy from? Sure, I’m looking for the best price, and I also want a site that looks credible so I don’t perceive that I may get ripped off. That may narrow my list from ten to five sites. They all offer my item at about the same price, they all have professional looking sites with easy-to-use shopping carts, and I found them all in the top ten search results on Google! By common Internet business logic they’re all doing it RIGHT! But, only one will get my business today. And who’s to say that even if I have the best experience possible with the one I choose, that I’d ever buy from them again. Remember, it’s so easy to shop around, and there are still several other good-looking companies that offer similar items.
The difference is in the customer service. That is the one way that a website can set itself apart in this competitive world. It can take the best website, full of stylish graphics and rich content, and make it more than an image on a computer monitor. It can give it a personal touch. Its that personal touch that will differentiate yourself from your competition. Potential customers will want to buy from you, and customers will want to keep coming back. They know you… and you know them. Your business has become more than just an image on a screen to them.
So, how do you provide great online customer service?
Traditional wisdom says to include your telephone number and email address on your site in highly visible locations. Unfortunately, doing just that doesn’t go far enough, and probably will only offer minimal benefits. To call you, a dial-up user may actually have to log off your site just to get in touch with you, and you’re trying to keep them on your site! Even with a high-speed connection, a phone call may not be the most convenient thing to do, especially if you don’t have a toll-free number. And if you do, phone calls are costing you a lot of money! With email, your customers can contact you, but how long will they have to wait for a response–an hour, several hours, a day, a week? You may have a great policy about quick follow-up, but do your customers know that? They just sent you an email and they don’t know when they’ll hear back… if ever. Plus, posting your email on your site opens you up to getting tons of spam.
So, what’s better than telephone and email? Here are three tools that can increase your sales, build your customer loyalty and retention, and save you money.
1. LIVE CHAT: Putting a live chat system on your website will have incredible benefits. Picture a potential customer browsing your site and having a question about placing an order. Again, we’ve discussed that phone and email aren’t the best solution for this scenario. Now, picture having a large, noticable live chat button right there on your site. The visitor clicks it, enters their name and question, and they are IMMEDIATELY connected to you or one of your employees. Now, you know who they are, and they know who you are–you’re beginning to develop that personal relationship we talked about. You can help them with their order, answer any questions they might have, or upsell them to a different product. All this, and they never left your website. Next time they need something, there’s a good chance they’ll want to come back to your site and talk to you again.
2. KNOWLEDGE DATABASE: A knowledge database is a collection of self-help articles that a customer can search through to find answers to their questions. Let’s face it, as easy as you make your website to navigate and use, you’ll still have people that have questions, problems, or concerns. With a knowledge database, the customers can quickly and easily browse for answers to their questions, and get help quickly and effectively. Its like FAQs, only turned up a notch.
3. TICKET SYSTEM: Using a ticket system is the best way to support current customers, and to answer questions from potential customers. A customer or potential customer creates a ticket and submits it to your company. Your company receives the ticket and can route it to the appropriate person or department for follow-up. It is quick and easy, and the customer gets an answer from the most qualified source at your company for the problem they had. Tickets also allow you to track your customers to get to know them better, and track your issues to find out what you could be doing better. Tickets are far more organized, secure, and useful than email–both for the company and the customer.
Search engine optimization and site design are important. But you’re operating in a highly competitive environment, and you need something more to set your business apart. Something to make your website more than just a simple collection of graphics and content on a screen. You need a personal relationship with people viewing your site. The kind of relationship that will create new sales, and encourage repeat purchases. This can be acheived through effective online customer service.
Please feel free to reprint this article so long as you include the resource box listed with the article.
Dan Cavanaugh is the Senior Marketing Director for CSLive, a fully integrated and affordable online customer service system, featuring live customer chat, a ticket system, knowledge database, live web meetings, internal messaging, and much more. To find out how easy and affordable it can be to provide great customer service on your website, click here: http://www.CSLive.com
Establishing Credit ? What You Need To Know Part 2
In my previous article “Establishing Credit ? What You Need To Know Part 1″ I discussed the need for a good credit history and what lenders were looking for prior to loaning an individual money or additional funds based on their credit history. This article will go into the necessary steps someone needs to take in order to initially establish their credit history.
The first and easiest step is to show any potential lenders that you actually know how to handle money. This can be easily achieved by opening either a savings or checking account (opening both would be better) in your name. As you successfully use these accounts you will prove to a lender that you can handle money and are ready for the increased responsibility that comes with having additional credit.
Another means of establishing credit actually involves borrowing funds and then paying them back over time without any late payments. Although this method to establishing a good credit history is quicker and very effective when compared to the long drawn out procedure of making withdraws and transfers to your savings/checking account it comes with the drawback of the cost associated with obtaining the loan in the first place. If you’re having trouble obtaining a loan but still wish to use this method to establish your credit history then seek out a friend or relative with known good credit and have them cosign on a loan for you. Remember this is asking a lot from that individual so please don’t abuse the trust they put into your ability to repay the loan on time and without problems.
Other popular methods of establishing credit include applying for credit cards or department store cards. Again, although this method is very effective for establishing credit (provided you make your payments on time) it could be costly if you start to carry a balance on these cards. Always check to see that there is no annual fee and make sure you are aware of the financial charges imposed against you if you should decide to carry a balance on any card you have. Obviously the best plan is to always pay your balance off in full each and every month. This allows you to build your credit history and avoid being buried under a mountain of high interest debt.
A word of caution ? identity theft and credit theft is a very real and dangerous problem in today’s society so you want to make sure you do everything you can to protect your newly established credit history. Always make sure to secure your credit cards and never let anyone obtain your personal identification number (PIN). If you have numerous credit cards avoid carrying them all at once. Instead just carry the card you normally use and file the rest away in a safe place. Always make sure to keep information such as contact numbers and account numbers of the cards you have been issued. This will help you if you ever lose or have a card stolen.
If you find that you have lost a card or had it stolen simply contact the company that issued the card and report your situation. If the card hasn’t been used prior to your reporting it lost or stolen then you’re relieved of any future financial liabilities against the card. If it has been used prior to your reporting then you may be held accountable for up to $50. Finally, always be cautious about who you give your account number to and remember to keep all receipts and records that are associated with that particular card.
Establishing a good credit history isn’t that difficult if you start small and work your way up. It will take some time but if you do it right it will definitely pay off in the future and allow you the opportunity to obtain credit for the items you really want to purchase or may really need.
Timothy Gorman is a successful Webmaster and publisher of Debt-Relief-Solutions.com He provides more debt relief, consolidation and free credit counseling information that you can research in your pajamas on his website.
