How successful people talk

By Francisco Dao

I imagine it’s a byproduct of the confidence that often comes with success, but I’ve noticed a difference in the way successful people carry on conversations as opposed to those who are less accomplished. In a nutshell, they pay attention.

This might seem like I’m pointing out the obvious or belaboring Interpersonal Skills 101. But in the real world, most people seem to have lost the ability to pay attention and have an actual conversation with the person standing in front of them. It’s as if they’re afraid of missing out on whatever else might be happening in the room, so half of their attention is always elsewhere. Or they’re so easily distracted that trying to talk to them plays out like someone conducting multiple chat sessions.

At the risk of sounding like a class-conscious snob, keep in mind I’m just a regular guy who is fortunate enough to have a wide range of friends, here are some of the differences in how my “regular” friends interact as opposed to my more successful friends.

1. Regular people will stop a conversation to pose for pictures. For regular people, a camera is like the magic watch that stops time. Whip one out, and they’ll forget everything they’re doing to pose for the shot. I can’t even think of a time when my more successful friends stopped what they were doing to take a picture. For them, the conversation was all that mattered. If anything, they avoid photos.

2. In a crowded room, regular people will flit about trying to talk to as many people as possible. I think they’re afraid of missing somebody. Successful people are usually much more comfortable talking to just a few people throughout the course of an evening and don’t worry much about who they’re missing.

3. Successful people are not only willing and able to have one-on-one conversations, they often find this preferable. I recently hosted a small dinner that was supposed to be a party of six, but two people dropped out late, and it turned into a party of four. Instead of being a problem, the interactions that evening were largely divided further into two one-on-one conversations. In contrast, regular people tend towards thinking, “the more the merrier.” I have one friend who is constantly inviting random people to join for lunch or dinner. I have to tell him, “I came here to hang out with you, not a bunch of random jokers.”

4. Successful people always wrap up their conversations. A while back a friend of mine asked me how a regular guy like me was able to befriend and earn the trust of successful people. It’s not like I have any money or anything obviously valuable to offer them. Before I could answer, she got distracted and wandered off. She never got the answer, although if she’s reading this post she has the answer now.

5. Regular people seem to have much more difficulty ignoring their cell phone. When I think back through the dinners and conversations I’ve had with my successful friends, incessant cell phone checking has never been a problem. Meanwhile, my regular friends can’t stop. By checking your phone, you’re essentially telling the person in front of you that whatever text, tweet, or email you’re reading is more important than they are. Think about how insulting that is.

Whatever advice you’ve read about the importance of paying attention, multiply it by five. It matters that much. In fact, assuming you’re reasonably interesting and can hold up your end of a conversation, it’s the only thing that matters. Random jokers might be willing to work to keep your attention but important people won’t. They have better things to do and they’re not going to keep talking to you or act like a performing monkey trying to keep you engaged if you can’t stay focused.

As I said at the beginning, some of you are probably thinking, “this is all obvious, I didn’t need to read this.” But the next time you’re out at some event or dinner, notice how many people are guilty of these transgressions. If you want to be taken seriously, then you need to treat the person standing in front of you with respect. And that starts with paying attention. 

Mudras Or Hand Gestures.

What are Mudras? How do we define them?

As per Eastern philosophies and culture and Yogic practices, 'Mudras' are systematic hand gestures. Literally, Mudra in Sanskrit means a posture/seal. More deeply, "closed electrical circuits" of the subtle channels in physical and etheric bodies are also known as 'Mudras'.

Some Western writers have defined 'Mudra' as mystic hand gestures used to focus subtle energy, transmit teachings through symbols and confer psychic protection. Chogyam Trungpa says Mudra is "a symbol in the wider sense of gesture or action………Also it is a symbol expressed with the hands to state for oneself and others the quality of different moments of meditation……."

Leaving aside the complex definitions offered by various people and sects, we will summarise to say that:

Mudras are a non-verbal mode of communication and self expression consisting of hand gestures and finger postures. They retain the efficacy of the spoken word. It is an external expression of inner resolve, suggesting that such non verbal communications are more powerful than the spoken word.

In Yoga mudras denote the finger and hand gestures and movements used in the performance of dances, rituals and rites and while engaging in spiritual exercises such as meditation. Mudras symbolically express inner feelings and inner psychological states. They also generate various qualities such as fearlessness, power, charity and peace in the practitioner and to on-lookers.

The Gherand Sanhita and the Vajrayana Tantra advise that the Mudras are capable of bestowing great powers and psychic abilities called "Siddhies" on their practitioners, hence, their knowledge should not be conveyed to those steeped in sin, to those that are not true to their word, to the skeptics and non believers, to heretics and insincere persons and those who do not observe the precepts.

Mudras have therefore always been considered an esoteric science and even as of date there are thousands of Mudras that are not available to the uninitiated (like in the Chen Yen Buddhism or True Buddha Schools). However, besides the mudras providing spiritual gains, there are mudras which are likewise of tremendous value in therapy. Constant researches by the dedicated have brought a large number of these to the fore although we still seem to be scratching the surface only of this sea of knowledge.

Tips for a Successful Relationship

Having a good relationship can be tough to maintain for many couples. However, there are some things you can do and tips to learn to maintain a successful and happy relationship. Here are several tips to keep your successful relationship going for years to come.

1. Spending Quality Time Together: One main tip for having a successful relationship is spending quality time together. If you never have time for each other, then you both start to wonder, why you are together in the first place. Make it one of your main priorities to spend at least a couple of hours together a day. Even if you both work, this is a crucial attribute in a relationship. Make time for each other.

2. Setting Goals: Setting goals and making plans for the future can be a key in having a successful relationship. This shows that you are both in it for the long run. Think about where you both want to be in five years. Do you both want kids? Do you both want to build a new home together? These are questions to bring up, if you are both in it for a while.

3.Be Intimate:  Being affectionate and passionate in a relationship is a strong point for a successful relationship. Having intimate times throughout any time of the day is a great thing to do when making the relationship work. Running out of physical connections can lead to problems in a relationship. Therefore, for a successful long-term relationship, keep the intimacies going.

4. Be Supportive of Each Other: Be supportive of each other. Never judge each other, and hold blame. Remember that you are a team, never enemies. In order to be supportive of one another, root for each other daily.

5. Be Their Best Friend: Not only should you love your partner, but you also have to like them. Being in a successful relationship means that you have to be there best friend. Becoming friends first always helps to evolve into a long lasting relationship.

6. Trust Each Other: Trust is essential for having a successful courtship. You always need to have trust in your relationship in order to make it work for a long time. When there is no trust, is when you should worry. This could be an ugly feat to have in any relationship. Always put trust in each other. Jealousy can ruin a relationship in an instant.

7. Love Yourself: In order to have a successful relationship, you must love yourself first. You simply cannot love anybody else unless you have love for yourself. Having confidence and being secure with yourself is an important factor, when wanting to love someone else. If you are secure in yourself, you can be more secure in your relationship.

In having a successful relationship, you just have to roll with the punches, and take whatever you both are dealt. If you both stick together, there is nothing you both cannot handle. Be grateful you have each other, and always be caring. Taking in these few tips can make it all worth having a partner you can spend your whole life with.

Career myths you shouldn't fall for

You've probably heard the same bits of career advice tossed around over and over from well-meaning friends, relatives, and even bosses. But plenty of the maxims that we hear repeated actually aren't true. Here are six of the most popular career myths that you shouldn't fall for.

1. A college degree will get you a job

    Generations of students have been told that if they get a college degree, they'll easily find a job afterward. Unfortunately, it's no longer so clear-cut. Degrees no longer open doors the way they used to, and too many new graduates are remaining unemployed or under-employed for months or even years, as employers opt for more experienced candidates. This is frustrating and confusing for graduates, who often feel that they did everything they were supposed to and they're not getting the pay-off they were promised would come.

2. Do what you're passionate about and the money will follow

    In reality, not all passions match up with the realities of the job market. If you're passionate about poetry or painting, you're going to find very limited job opportunities for those things. In fact, the people who get to do what they love for a job are the lucky ones; they're not the majority. A better goal is to find work that you can do reasonably happily; it doesn't need to be your passion. 

3. If you can't find a job, just start your own business

    Starting your own business is hard, and it's not for everyone. It's not as easy as just having a skill and selling it. You have to have something that people want to buy from you more than they want to buy it from your competitors. You also have to be able to market yourself, deal with financial uncertainty, have some savings as a launch pad, and overcome plenty of other challenges. It's not a cure-all for anyone who can't find a job or is unhappy in their career. 

4. Your major in college will lead to your career

    Students often come out of school thinking that their major will lead them to their life-long career path directly, but it's very often not the case--especially for majors in the liberal arts. You might have an English degree but end up in HR, or a sociology degree but end up selling ads, or a music degree but end up as a professional fund raiser. On the other hand, degrees in the sciences, technology, engineering, and math are more likely to end up pointing you toward a more defined career path. 

5. If you're not sure what you want to do, go to grad school

Grad school makes sense when you want to follow a career path that requires an advanced degree. But it's a bad use of time and money if you're hoping it will somehow point you down a career path, or if you're going because you're not sure what else to do. Many people who go to grad school for lack of a better option come out a few years later saddled with large student loans, and not any better positioned than they were before they enrolled. Which leads to? 

6. Grad school will always make you more marketable

Grad school generally will not make you more marketable unless you're going into a field that specifically requires a graduate degree. In fact, it can make you less competitive, by keeping you from getting work experience for that much longer and requiring you to find a higher-paying job than you might otherwise need because you need to pay back school loans--and even worse, if you apply for jobs that have nothing to do with your graduate degree, many employers will think you don't really want the job you're applying for, since it's not in "your field." 

Raising Money For Starting a Business

The task of raising money for a business is not as difficult as most people seem to think. This is especially true when you have an idea that can make you and your backers rich. Actually, there's more money available for new business ventures than there are good business ideas. A very important rule of the game to learn: Any time you want to raise money, your first move should be to put together a proper prospectus.

This prospectus should include a resume of your background, your education, training, experience and any other personal qualities that might be counted as an asset to your potential success. It's also a good idea to list the various loans you've had in the past, what they were for, and your history in paying them off. You'll have to explain in detail how the money you want is going to be used. If it's for an existing business, you'll need a profit and loss record for at least the preceding six months, and a plan showing how this additional money will produce greater profits. If it's a new business, you'll have to show your proposed business plan, your marketing research and projected costs, as well as anticipated income figures, with a summary for each year, over at least a three year period.

It'll be advantageous to you to base your cost estimates high, and your income projections on minimal returns. This will enable you to "ride through" those extreme "ups and downs" inherent in any beginning business. You should also describe what makes your business unique---how it differs form your competition and the opportunities for expansion or secondary products.

This prospectus will have to state precisely what you're offering the investor in return for the use of his money. He'll want to know the percentage of interest you're willing to pay, and whether monthly, quarterly or on an annual basis. Are you offering a certain percentage of the profits? A percentage of the business? A seat on your board of directories?

An investor uses his money to make more money. He wants to make as much as he can, regardless whether it's short term or long term deal. In order to attract him, interest him, and persuade him to "put up" the money you need, you'll not only have to offer him an opportunity for big profits, but you'll have to spell it out in detail, and further, back up your claims with proof from your marketing research.

Venture investors are usually quite familiar with "high risk" proposals, yet they all want to minimize that risk as much as possible. Therefore, your prospectus should include a listing of your business and personal assets with documentation---usually copies of your tax returns for the past three years or more. Your prospective investor may not know anything about you or your business, but if he wants to know, he can pick up his telephone and know everything there is to know within 24 hours. The point here is, don't ever try to "con" a potential investor. Be honest with him. Lay all the facts on the table for him. In most cases, if you've got a good idea and you've done your homework properly, and "interested investor" will understand your position and offer more help than you dared to ask.

When you have your prospectus prepared, know how much money you want, exactly how it will be used, and how you intend to repay it, you're ready to start looking for investors. As simple as it seems, one of the easiest ways of raising money is by advertising in a newspaper or a national publication featuring such ads. Your ad should state the amount of money you want--always ask for more money than you have room for negotiating. Your ad should also state the type of business involved ( to separate the curious from the truly interested), and the kind of return you're promising on the investment. Take a page from the party plan merchandisers. Set up a party and invite your friends over. Explain your business plan, the profit potential, and how much you need. Give them each a copy of your prospectus and ask that they pledge a substantial amount as a non-participating partner in your business. Check with the current tax regulations. You can also issue and sell  stock of your company as per the existing laws of your country . You'll need the help of an attorney to do this, however, and of course a good tax accountant as well wouldn't hurt.

It's always a good idea to have an attorney and an accountant help you make up your business prospectus. As you explain your plan to them, and ask for their advice, casually ask them if they'd mind letting you know of, or steer your way any potential investors they might happen to meet. Do the same with your banker. Give him a copy of your prospectus and ask him if he'd look it over and offer any suggestions for improving it, and of course, let you know of any potential investors. In either case, it's always a good idea to let them know you're willing to pay a "finder's fee" if you can be directed to the right investor. Professional people such as doctors and dentists are known to have a tendency to join occupational investment groups. The next time you talk with your doctor or dentist, give him a prospectus and explain your plan. He may want to invest on his own or perhaps set up an appointment for you to talk with the manager of his investment group. Either way, you win because when you're looking for money, it's essential that you get the word out as many potential investors as possible.

Don't overlook the possibilities of the Small Business Investment Companies in your area. Look them up in your telephone book under "Investment Services." These companies exist for the sole purpose of lending money to businesses which they feel have a good chance of making money. In many instances, they trade their help for a small interest in your company.

Many states have Business Development Commissions whose goal is to assist in the establishment and growth of new businesses. Not only do they offer favorable taxes and business expertise, most also offer money or facilities to help a new business get started. Your Chamber of Commerce is the place to check for further information of this idea.

Industrial banks are usually much more amenable to making business loans than regular banks, so be sure to check out these institutions in your area. insurance companies are prime sources of long term business capital, but each company varies its policies regarding the type of business it will consider. Check your local agent for the name and address of the person to contact. It's also quite possible to get the directories of another company to invest in your business. Look for a company that can benefit from your product or service. Also, be sure to check at your public library for available foundation grants. These can be the final answer to all your money needs if your business is perceived to be related to the objectives and activities of the foundation.

Finally, there's the Money broker or Finder. These are the people who take your prospectus and circulate it with various known lenders or investors. They always require an up-front or retainer fee, and there's no way they can guarantee to get you the loan or the money you want.

There are many very good money brokers, and there are some that are not so good. They all take a percentage of the gross amount that's finally procured for your needs. The important thing is to check them out fully; find out about the successful loans or investment plans they're arranged, and what kind of investor contacts they have---all of this before you put up any front money or pay any retainer fees.

There are many ways to raise money---from staging garage sales to selling stocks. Don't make the mistake of thinking that the only place you can find the money you need is through the bank or finance company.

Start thinking about the idea of inviting investors to share in your business as silent partners. Think about the idea of obtaining financing for a primary business by arranging financing for another business that will support the start-up, establishment and developing of the primary business. Consider the feasibility of merging with a company that's already organized, and with facilities that are compatible or related to your needs. Give some thought to the possibilities of getting the people supplying your production equipment to co-sign the loan you need for start-up capital.

Remember, there are thousands upon thousands of ways to obtain business start-up capital. This is truly the age of creative financing.

Disregard the stories you hear of "tight money," and start making phone calls, talking to people, and making appointments to discuss your plans with the people who have money invest. There's more money now than there's ever been for a new business investment. The problem is that most beginning "business builders" don't know what to believe or which way to turn for help. They tend to believe the stories of "tight money," and they set aside their plans for a business of their own until a time when start-up money might be easier to find.

The truth is this: Now is the time to make your move. Now is the time to act. the person with a truly viable business plan, and determination to succeed, will make use of every possible idea that can be imagined. And the ideas I've suggested here should serve as just a few of the unlimited sources of monetary help available and waiting for you!

Why Some Entrepreneurs Fail

Everyone that starts a business knows that there are going to be mistakes at some point in their venture. But there are some mistakes that can be avoided by learning about the problems and how you can provide a solution once you have encountered it. We shall take a look at the top 3 reasons why some entrepreneurs fail miserably in their businesses and how you can avoid these mistakes yourself.

Having No Business Plan

There are a lot of beginner entrepreneurs that forget or fail to write their own business plan before they jump into a venture. Some of them fool themselves that they have all the knowledge they need inside their head while others become overwhelmed about the idea of creating such a troublesome write up. Even though most of the information is stored in their heads, there are still market researches, advertising plans and expenditure/profit analyses that need to be written down.

The solution to this problem and how you can avoid facing a business that has no future is by making use of a basic business template or develop your own to start with. Business plans can be books with plenty of pages or just notes on a piece of paper. Certain software applications can also be used to aid you in creating your business plan and make the process much easier. The entire point of a business plan is to let you visualize how your business can achieve things realistically.

Unnecessary Purchases

Buying a lot of unnecessary supplies for your office is a common mistake why some entrepreneurs fail in running a business. This is also a common habit among entrepreneurs as they always feel the need to be prepared for the arrival of big clients. Although this mistake is smaller than the other 2, this can still turn into a big problem in the future when it comes to calculating the total amount of expenditures and find out that you have burned a lot of finances.

Before you start purchasing anything, make an inventory of the things that you have and the things that you need. Write down scenarios in which you can use the supplies that you are about to buy. There may also be some items that you are going to need, but you should make a research about them before purchasing just to make sure that you are doing the right choice.

Taking Time for Granted

A lot of entrepreneurs take time for granted as they think that they have plenty of it. Just because there is a set amount of time to work does not mean that you are going to dedicate your time on your billable hours. Businesses have invoicing, calls, quotes, marketing and research that still need to be done.

The solution to this is top set a schedule for your office work. You are going to do this yourself unless you already have a secretary that can do it. Many have taken this for granted that is why some entrepreneurs fail. Successful entrepreneurs schedule the first or the last hour of their work in a day returning calls, emails and billing. Figure out the best schedule that will work for you and stick to that.

Developing Trust As a Leader

Developing the trust of others generally involves your inner core and your actions. If you communicate your beliefs and if your actions match your words, associates will trust you.

Certain aspects of appearance and other forms of nonverbal behavior communicate the message that a person can be trusted. Some nonverbal indicators suggest a person of questionable trustworthiness. You can consciously control whether you show some of these indicators of trust and distrust.Smiling frequently suggests authenticity as opposed to smiling constantly, which suggests a cover-up for real feelings.

Flashing brief smiles and other facial expressions such as frowning suggest authenticity. In contrast, prolonged facial expressions suggest a lack of authenticity.

• Maintaining eye contact without staring sends a signal of trustworthiness.
• Being well dressed sends a signal of trustworthiness.
• Maintain a relaxed, easy manner in front of others.
• Make a point to ask team members more about themselves, not only about work related interests but also about their outside interests.
• Offer at least one sincere compliment a day.
• Go a full day listening without interrupting once.
• Be honest at all times. Honestly can some times cause feelings to be hurt but in the long run honesty is the best policy.
• Using a friendly, warm gaze helps you appear trustworthy.
• Share credit generously. When in doubt, share.
• Admit when you're wrong. No one is perfect. Take accountability for your actions and you will gain respect in the process.
• Don't forget the easiest strategy of all. Ask team members "How are things going?"

It takes a leader a long time to build trust, yet one brief incident of untrustworthy behavior can destroy trust. Always treat others as you would like to be treated and the rewards can be tremendous. Treat people with mutual respect and you will be recognized as one who they can trust and rely on.

Recruiting Excellent Job Candidates

An independent recruiter, recruiting agency or executive search firm is charged with tracking down excellent potential candidates for available job positions. Despite the fact that there are innumerable people seeking positions of employment in the 21st century, it often seems to a typical recruiting agency that qualified men and women are few and far between.

Here are six easy tips that recruiting services, staffing firms, or executive search firms should keep in mind when on the hunt for outstanding potential job candidates in the 21st century.

These tips are equally applicable to companies undertaking their own search without the help of recruiting agency services. Indeed, the headaches associated with finding qualified personnel is magnified for a company undertaking its own recruitment efforts.

1. Post an Ad on an Industry-specific Job Board. Oftentimes, a recruiter will take a scattershot approach to finding candidates that are worthy of consideration for an available position. They broadcast far and wide the fact that a certain position is open and available, in big city newspapers and on major Internet job boards.

If a recruiting agency were more thoughtful about its recruitment efforts, it would realize the benefits of positing an announcement of an available position on an industry-specific Internet job board. By posting in a selective and admittedly limited manner, recruiters and staffing firms would be reaching out precisely to the pool of people most likely to be qualified for an open position.

One excellent tool for finding industry-specific job boards can be accessed at: http://www.onlinerecruitersdirectory.com/jobboard.php

2. Use Recruiters that Specialize in a Given Field. As with advertising, choosing an effective recruiter might be just a matter of targeting, particularly for a managerial or executive position. These positions can be very hard for in-house personnel directors and human resource managers. While these people do have responsibility for hiring, the search for a new employee with skills beyond the norm for their company can best be targeted by a professional executive head hunter.

The same can be said for specialized fields, such as accounting or information systems. In-house human resources staff might know all about pharmaceutical skill-sets required for a multitude of research and administration positions, but they might rarely have to deal with hiring staff to track money or to keep the computers functioning. That's when recruiting agency services specializing in IT or in accounting can come in handy.

3. Develop an In-House Referral Program. In many instances, exiting staff members can help speed up the search for quality job candidates. Employees often have contacts elsewhere within the industry, some of which may be looking for a change of employment.

By cultivating this internal resource, a personnel director can develop a wealth of ready information about prospective employees who might well serve the organization as valued employees.

4. Search Resumes Posted on Job Boards. In addition to advertising on an industry specific job board, a diligent personnel director or recruiting agency will want to take the time to search and consider resumes that have been posted on job boards.

Often, a person pounding the pavement looking for employment may not have the time to take in and review all of the various available positions that have been posted on a every job board. This is even more true if a given prospect is a highly sought-after candidate, who might be still busy in a current position of responsibility.

5 .Use a Directory of Recruiters. Because there are so many different type of recruiters in business in the 21st century it can often be difficult for in-house human resources staff to pinpoint the recruiter that will be best able to meet the needs of a given employee recruitment campaign. But there are resources available, such as directories of recruiters.

One such directory is:http://www.onlinerecruitersdirectory.com

By using a professional directory, in-house human resources staff will be able to identify the most appropriate resources for their company and for the recruiting task at hand. Even staffing firms can benefit from such a recruiters directory to seek help in a specialized field they don't often work with.

6. Don’t Rush the Process. Finally, while it is an overused saying, “Rome wasn’t built in a day.” In the same vein, 99 times out of 100 there is no need to rush the process of seeking, identifying and hiring a new employee, particularly an executive level employee.

A personnel director should take his or her time to identify, screen, interview and hire the best candidate. Throughout this process, a human resources manager or specialist will rely on the services and support tools identified in this article.

By using these tips, in the long run the best possible candidate for a given position will end up being hired, and the company will benefit from the best possible employees.

A Successful Small Business Idea

You surely know that a small idea can lead to a great business success. The first movement is to think of an idea that would be suitable for the business market. After coming up with the idea, the next step is to put that idea into action. Of course, this is a very difficult step and having the idea is only the start of the journey. After that you will have to face many obstacles before being able to carry on with your business project. This is just the beginning of this process and there is a lot of questions you will have to answer before even start.

Some of the main aspects you have to concentrate on when you have business ideas are the abilities and gifts you can pour into the business. It is very important for you to be identified with your business project. Those ideas should be based on activities and actions you take pleasure in doing. For example, if we suppose that you dislike working in the open, landscaping business would not suit you. On the other hand, if you like working with children, setting up baby-sitting or tutoring business would be an excellent idea. In this case, without any doubt you business will be more successful because you will have put your mind, effort and also your heart on it.

Another vital step is to analyze the needs of a specific product or service in your region before setting up your business. Do people of your area need your product? Are there other business like the one you are planning to start? You should ask yourself whether or not you are the only one offering that service or product. If you are not, you will have to analyze the competence you will have to face. You have to think whether the service you are offering is one that customer would repeat, or if it is a one-time specialized service. Obviously, the former are more likely to succeed than the latter.

There are other aspects you have to take into account. These aspects are described below:

- One of them is that if the idea is unique, you will reign the market. But if there is much competition, it will be difficult to enter into the market.

- A second point would be if you can offer quality from the very beginning, otherwise, you won't succeed.

- Finally, you have to think about your capital to start your own business. There are many business ideas that require little investment and bring great profit. Some demand research, such as daycare service, and others need a large amount of money to begin the business. So take this recommendation into account before investing all your money in a small business idea.

Incorporating Your Small Business

There comes a point in time when every small business person contemplates on whether to incorporate their business or not. A lot of times small businesses start out sole proprietorships, and then become incorporated as the business expands and develops. Small business incorporating can be a difficult decision, and with this article you’ll gain a little bit of knowledge on the advantages and disadvantages.

There are many advantages to incorporating your small business, but limited liability is one of the biggest advantages. When you have sole proprietorship to the company all the liability of the company is on the owner. When incorporating the business, your only liability is to however much you invest in the company.

With sole proprietorship, all of your personal belongings, such as car and home, can be turned over to help pay the debt of the business. As a shareholder in the business, you have no responsibility whatsoever for the debts of the business, that is of course unless you give a guarantee.

Another advantage to incorporating a small business is the ability to raise money so much easier. With the ability to raise money much easier, this increases the odds of the corporation growing and expanding. Yes, you’re saying any sole proprietorship can borrow money and incur debt like any corporation. However, with a corporation you can sell shares and raise equity capital, which is a big advantage in that you generally don’t have to repay equity capital and it has no interest.

There are many tax advantages with becoming a corporation that you can take a look at as well. Some of these advantages include income splitting, potential tax deferral and more. Along with the reasons above, a corporation can have an unlimited life. The life of a corporation is not dependent on particular individuals, but the company as a whole. With this, the company has the opportunity of lasting forever just as long merges with another company or goes bankrupt.

Now that I’ve buttered up the idea of incorporating your small business, let’s take a look at some of the possible negatives.

As you incorporate your small business, there now will be two tax returns to file each year, one for your personal income and one for the corporation. This may not be a huge deal, but unlike a sole proprietorship a corporation cannot deduct its losses from the personal income of the owner. Plus, having another tax return is the last thing another business owner wants to deal with.

As a corporation is much larger and more complex then a small business, therefore the cost to create one is much higher. Just to set up the corporation will cost a lot more, then you have to tack on the increased maintenance fees, accounting fees, and more.

As with everything else, a larger business means more paperwork that must be taken care of. Corporations must keep a minute book, which contains the corporate bylaws and minutes from corporate meetings. Reports and tax returns must be completed neatly and in a timely fashion. All of the business bank accounts and records have to be kept separate from personal accounts and assets. That may sound like a load, but that is just the start of the increased paperwork that comes with the territory of incorporating your small business.

While there are many advantages and disadvantages to incorporating your small business, the decision ultimately goes to you. It is a decision that could make or break your business, therefore much more research is recommended. However, small business incorporating should be a thing that suites you and others associated with you best.

Economic Warning for Americans

For years we’ve suffered under recession, prompting us to ask, When will it end? My answer is, “It’s only the beginning.”

Historically, recessions are the result of high interest rates, pushed up as the result of loose money policies. Recovery comes when citizens begin to spend more wisely, save money and pay off their debts, but not this time. Never before have credit policies been so loose for so long, and there has been no decrease in consumer debt. It’s still on the rise, but Americans are NOT fundamentally to blame; immoral monetary policy is.

Banks used to consider a safe loan applicant to have a 36% or less Debt to Income Ratio (debt divided by gross income). This percentage is a time-proven figure indicating the financial health of an individual. Now, during the worst economy in twenty years and with no signs of recovery, our banks gladly loan to applicants with a 56% Debt to Income. What has changed? Are banks suddenly more generous? I don’t think so. One good question to ask is, Why are banks willing to accept the additional risk? But the real question to ask is, Where is this money coming from?

Not one in a thousand Americans knows the true nature of our banking system, so they have no idea that what happened in 1929 is about to happen again. Nor do they know that it was done deliberately then, and is being done deliberately now.

We have in this country one of the most corrupt institutions known to Man, and I refer to the Federal Reserve. Since it’s inception in 1913, every dollar created has interest being paid on it as if it were borrowed. This debt cannot be extinguished without destroying the currency itself, and has spawned a nightmare of debt that presently amounts to over $360 Billion in interest paid per year, accounting for half the personal income tax of the nation. Due to this, America is forced to create $7 Billion daily to cover the $1 Billion it pays in interest daily due to the Federal Reserve System. This is where the public comes in.

Federal Reserve bankers have to find a way to spend $6 Billion every day while masking the inflation it causes. Throughout the nineties it was done through real estate and the stock market. Now it is almost exclusively being put into real estate. How on Earth could so many mortgage companies be offering interest only, no money down, multi-hundred thousand or million dollar loans with high applicant debt ratios?

Here is a hypothetical example of what’s going to happen: Your mortgage banker tells you that with a 56% debt ratio, you can afford a $300,000 home, no money down. You secure the loan at 4%, costing $1432 per month. A few years later, you’re thrown out of work for three months. Back payments amount to $4296 plus late fees, legal fees, etc., and another $5k on cars, credit cards and everything else. Unable to catch up, you’ll try to refinance, but interest rates have moved up to 7%. A $310,000 loan now costs $2062 per month—more than you can afford, but banks will have tightened lending policies back to 36% and you no longer qualify for the home you own anyway. Accounting for all other debt, you now qualify for a shocking $360 per month. You are trapped, and the new bankruptcy laws they pushed for will never let you walk away.

You owned this home in a perfect numbers scenario, but any complications—unemployment, salary reduction, interest rate increase, debt ratio change, bruised credit rating, depressed home values--and you’re cooked. One mishap and every financial measure works against you. Your financial angel has suddenly become your greatest enemy. Welcome to the Federal Reserve System and their freshly engineered worldwide depression.

If you were to approach the housing market fresh, you would find that you only qualify for a $55k house now, along with the market of buyers you were hoping to unload your balloon-house on. The bank forecloses, auctions it off and you’re personally responsible for the difference, which could be massive. Bankruptcy is right around the corner, and deplorably, you are the only one who will be held accountable. You will then be a debt slave as the Federal Reserve intends, and game over.

My advice is to get as financially stable as you can. Mathematically, our situation is much worse than that of the Great Depression. No matter how generous these bankers appear, pare down monthly outlays to 36% D/I or less. Set aside three to six months of mortgage payments in case you become unemployed. Make sure you can ride out the storm.

We are coming to a point in American society to where it’s either them or us, and mass awareness is the key to our survival. Most believe the Federal Reserve is a part of the government, but it’s just a name. The Fed is a private corporation set up for private gain, with a dark history of stock market crashes, financial panics, political manipulation and ultimately, mass poverty and hunger riots. Our struggle is not new: currency control has switched from public to private hands EIGHT times since our country’s inception, and needs to be reclaimed by the people, one last time.

Don’t think you can play helpless and expect our political leaders to protect you from financial calamity; they never have. You must become Morally Armed on your own. Don’t be coaxed into believing the system is optimized for the good of all. The Federal Reserve System is not an equitable institution, and it was never intended to be. They believe if they have us strung out on debt, we are no threat to them. Let us prove otherwise.

Currency reform is the most important issue facing Americans today. How it plays out will determine whether you and your children eat or not, whether you have a place to live or even a future to look forward to. The major media will ridicule anyone speaking against the Fed, so to validate history’s greatest moral dilemma for yourself, just google “Jackson bank veto.”

America must abolish the Federal Reserve System to regain control over the economy and our government. For a concise history of world monetary policy and how it shapes world events, see Moral Armor. Then share this knowledge with your friends. Email this article to everyone in your address book and stay tuned for further developments. We’ll change the system together and bring a brighter dawn to Mankind.

Is It Necessary To Have a Business Plan?

Are you planning to start a new business? Or are you considering expanding your current business and require a bank loan or investment from outsiders?

If you are going to look for an investment of capital it is quite likely that you will be required to have a business plan. If you are starting a business, despite the work involved, a business plan can prepare you for the obstacles ahead and help ensure your success.

A business plan is something that many small businesses fail to create, however, many business owners are adamant that having a written business plan is one of the keys to their present success. Creating a business plan forces you to contemplate possible obstacles to your business and prepares you to find solutions that will help you to overcome them.

To find investors or get a bank loan, they will want to see that you have the experience or resources to run the business. They will want to see your projected income as well as your suggested repayment plan already laid out. Taking the time to do this is not only important for them, but it gives you a measuring tool to verify if your business is growing properly. You can gage your success on how close to the plan your business has actually performed. Perhaps you'll do worse, or perhaps you'll do better, either way it helps you determine how well your business is getting on.

If you have never seen a business plan before you may be concerned that is is too difficult a proposition for you to manage on your own.

While there are services available where you can hire someone to write a business plan for you, depending on your needs it may be wise to familiarize yourself with a business plan's layout. This will not only help you to provide the necessary information, but may encourage you to try your own hand at it.

There's a free tool at www.bdc.ca which will assist you in creating a business plan. Some of the topics you will be required to explain are your Market, Customer, Competition, Marketing Plan, Research & Development along with financial forecasts. You may consider hiring someone to help you with your financial sheets after completing the written part of the Business Plan.

Your Business Plan will become your guide and silent business partner - indicating where you need to improve and helping you stay one step ahead of your competition. Make it a priority to have this crucial road map for your business.

Five Reasons to Incorporate a Company Offshore

When it comes to the term ‘offshore’ used in conjunction with company incorporation, the term ‘offshore’ generally refers to any jurisdiction other than one in which the company incorporated will conduct the majority of its activities.

Usually such a jurisdiction has some degree of taxation or reporting benefit attached that makes it attractive to the company owner, and the concept of incorporating a company offshore will bring at least one of the following five benefits to a business owner: -

1) Ease of Operations – depending on the jurisdiction and the type of business activity to be conducted under the company name to be incorporated, the operating restrictions, auditing and accounting requirements and standards to which the business and its employees and directors must adhere are often far less restrictive offshore than onshore.

Exceptions to this rule are financial services based companies in many jurisdictions for example, who have to comply with extra regulatory legislation for the protection of the company’s clientele.

The advantage of easing operations particularly for a small or start up company is a reduction in operating costs and in the amount of time a company’s directors have to dedicate to form filling and report filing.

2) Reporting Simplification – this ties in with the first benefit; in the majority of offshore jurisdictions favoured for company incorporation the company activity reporting requirements are often far fewer and simpler as the business activities entered into by the company are conducted outside of the jurisdiction in which it is incorporated.

Furthermore personal information relating to the company’s directors and shareholders need not be declared in all cases or the extent to which personal information is required is far less intrusive.

3) Taxation Reduction/Negation – the reduction in taxation liability is one of the main benefits associated with investing offshore, opening an offshore bank account or incorporating a company offshore.

If you set up your company in a low or no tax jurisdiction you could potentially save yourself substantial amounts of money legally. Often the rules are that if the company incorporated in a particular jurisdiction never derives an income from the local economy it can operate tax free.

It’s therefore possible to use an offshore company in an overall international business structure and ensure profits are posted in the offshore jurisdiction and so no tax is liable! Many international corporations operate in this way and actually negate their tax liability fully.

4) Asset Protection – by operating a company offshore, i.e., outside the jurisdiction in which the company operates, it is sometimes possible to position assets away from the reach of any potential litigious action and also to shield business transactions from the eyes’ of the competition.

5) Personal Privacy Protection – the level to which a director or shareholder’s personal information is required, held, visible or investigated offshore is likely to be far less invasive and intrusive than onshore. It is also possible to appoint nominee directors and secretaries for offshore companies in many jurisdictions thus keeping the true company owner’s identity shielded.

The information contained in this article cannot constitute advice. Each individual’s circumstances are unique and whether or not offshore company incorporation is something that could benefit your business can only be determined with personal advice.

Five Leadership Secrets for Challenging Times

We consistently face new and ever growing challenges in the workplace such as reorganizing, downsizing, and “left out sizing.” We are faced with the question, “How do we lead in this storm of change?” It may seem difficult at times and the decisions we make define our short-term and long-term outcomes. I will share with you five leadership techniques guaranteed to keep you on track during these difficult times.

1 Integrity.

I put this first because the lack of integrity will make or break you as a professional, as a leader, as a person in the long run. The lack of this will turn yesterday’s heroes in today’s villains. For example, “MCI was the apple of the business community’s eye. High revenues, high profits, and high growth; MCI was beating the competition hands down.

Then it was discovered that there were gross accounting irregularities that accounted for the astounding profits. You see, management made a decision, “Do I continue to sustain good growth and be able to look at myself in the mirror or do I cook the accounting books and spend the rest of my time covering up this integrity deficiency? The real shame of the MCI situation was that AT&T, Sprint, and others in the industry had to cut costs and lay off thousands of employees to compete with MCI’s false numbers. The lack of integrity at MCI not only affected the company but also the livelihood of thousands and the industry as a whole.

I was recently speaking with a recently retired City Council member who is well respected in the community. I asked her what the secret was to her success while on the council? She mentioned that one of her political adversaries said to her, “While you were on the council, I didn’t like the way you voted, but I respected the way you voted because you were consistent with your votes and had the city’s best interest in mind.”

Ask yourself what decisions that you make are right for the long term? Be consistent in your actions, whether it is with management, your team, or your family.

2. Knowledge.

With change happening faster and faster every moment, it is extremely important that you gain the knowledge to master these changes. You owe it not only to yourself, but to your team and management. As I always say, “It’s not having the right answer, it’s that you have the right answer faster than before.” Many times during my teambuilding programs a student will say, “I didn’t know where to find the answer.” Then I will say, “That is an unacceptable answer.” Because part of being a leader is acquiring the skills to find the right answers. With the Internet, classroom and online training, mentors, etc., the knowledge is at your fingertips.

Challenge your team members to use the same resources to acquire the knowledge to master their challenges. By acquiring this knowledge, you will be able to navigate your team through the ocean of change and achieve your goals.

3. Decisiveness.

You have seen them. They wait for information, then more information before making a decision. Then they need more information to support the information they already have.Then they need a committee to analyze the information. Then they wait for the perfect time to make the decision.

Well, you know what I mean. Anyone you know? Make the decision! Good things happen when you take action; you grow, you adapt, and your team grows. There is no perfect time to make a decision. Leaders make decisions based on past experience, putting into action the decision, and staying and adapting the decision if needed. But make the decision. The worst quality you can show your team is indecision. What do you think your team sees when you can’t make a decision? Make the decision and go for it.

4. Vision.

This is the ability not only to see what is the present - anyone can do that - it’s the ability to see the future. Outstanding leaders can not only see their team for what they can do now, but what they can become, and paint the picture for them. These leaders are consistently communicating and coaching their team members to that vision. One of the best ways, and least used methods, to convey your vision is the team meeting.

Every meeting should start out with the team vision, mission, and goals; and the rest of the meeting should tie into the vision. For example, the motivation portion of the meeting should tie into the vision, the information portion of the meeting should tie into the vision, the training portion of the meeting should tie into the vision, etc. Also, invest time to develop your team members’ personal visions and show them how they can accomplish their personal goals by tying into the overall vision. By consistently communicating the vision, your team will move with purpose, feel they are personally making a difference, and achieve their goals sooner.

5. Unselfishness

Stephen Covey, in his successful book Seven Habits of Highly Effective People, wrote that a true leader must be a servant to the ones he or she leads. The leader must be able to “give of oneself for the good of the team.” In other words, be unselfish in words and action. Be unselfish in praise of others, in public, especially in front of management.

Be unselfish in the ability to take time to listen, really listen to your team’s concerns. A recent management survey said that the average time management invests doing “pure listening” to employees during the year is a mere two hours- just two hours! What was meant by “pure listening” time was listening with eye contact, acknowledgement, and not answering the phone while listening, not speaking with another person while listening, etc. Be unselfish in the ability to help your team. Whether it’s the ability to readily assist with a difficult telephone call, jump in and remove road blocks for team members, or “be there” for a team member during challenging moments. Believe me, your team will remember those moments and excel for you.

Now I challenge you to put into action just one of the leadership techniques I mentioned above to achieve your vision, your mission, and your goals in the future.

Difference between successful businesses and struggling businesses

Have you ever noticed how some businesses seem to do extremely well, and go from strength to strength, whilst the majority just seem to muddle along?

Since starting my own business I've met many small business owners and what I've noticed is that the vast majority of them seem to just about get by, but few reach the level of success that they're actually capable of. Some of them end up failing altogether, some lurch from project to project, and some do OK, but never really achieve the success or lifestyle they envisioned when they started their business.

On the other hand, I know a handful of extremely successful service business owners, who are making high 6 and 7 figure incomes every year (and rising) - and yet they don't work longer hours, their products and services are not magnitudes better than their competitors and they aren't geniuses!

So what is the difference between the successful businesses and the struggling businesses?

In a word: Marketing

Whilst there can be other factors that affect the ability of a business or practice to be successful, such as the economy, trends, cashflow and product/service quality or innovation, the number one difference between successful high-flying businesses and their struggling counterparts is good marketing.

Here is the lament of one survey respondent which is typical of the angst felt by service business owners who know they do a good job, but who don't understand why they don't have a queue of clients at their door:

"We know our products and services are good - we get great feedback from those clients we've worked with - but we still have trouble getting potential customers to buy in. Our services offer real benefits to clients but we are not as successful as we should be when we see what other companies offer (not as much) and yet are still very successful."

If you offer a quality service or product that produces great results for your customers or clients, and yet you're still struggling to get all the clients that you want or need, or to charge the fees you deserve, you probably have a marketing problem.

What do highly successful business owners do that others do not?

The first thing that they do is to realise that their primary objective is to build their practice or client base. In the words of Michael Gerber (who wrote The E-myth) they "work ON their businesses, not IN their businesses". What this involves is making the time to work on the business - in particular on marketing and product or service development, rather than spending all of their time handling clients, delivering services and dealing with administration.

They also look for areas where they can gain "leverage". Simply put, this means gaining maximum return for every hour they work. Instead of trading hours for pounds or dollars, they find ways to do the work once and get paid for it many times. They find ways to market their services one to many, instead of one to one (thus reducing marketing and sales effort and time). They delegate those activities which take up a lot of time (but which don't add much value in terms of moving the business forward) or which they are not skilled in such as admin, accounting, website maintenance and copywriting.

They also develop a success mindset, understand their strengths and weaknesses, take risks, innovate, hang out with other successful people and build a support network around themselves.

But above all, they learn how to market their businesses and create a marketing system that keeps a steady stream of prospects knocking at the door, without taking up all of their time!